Hey, Community!
The EmiSwap team participated in an AMA session on Polygon’s Telegram chat on 23rd November at 12:00 UTC. Polygon community members sent their EmiSwap related questions to Greg Mars, EmiSwap Founder, and Ismail Bagosher, from EmiSwap Business Development and Partnerships, who answered them.
Keep reading for the whole conversation.
Can you please tell us about yourselves and also about how EmiSwap came into existence.?
Greg Mars: EmiDAO was founded in March of 2021 to become the world’s most entertaining and intelligent DAO, enhancing decentralized decision power. EmiSwap, the first product of the DAO, strives to provide individuals with the information and resources they need to become financially independent and realize their full potential.
Can you please tell us a bit more about EmiDAO, its features, its standout points, and everything about it that excites you?
Greg Mars: EmiDAO aims to be the cross-chain De-Fi hub. EmiDAO seeks to provide a one-stop-shop solution for cross-chain De-Fi by bringing together the best protocols in one platform, much like Polygon in a way! Key EmiSwap Features are:
- ISM Cross-chain Swap: We will start by supporting swapping from all the major L1s via bridges. In our second phase, we will build a one-click, instant cross-chain exchange to enable faster interoperability between chains without waiting for the bridge transaction.
- NFT: Later in our roadmap, we build NFT utility into the DEX and trading experience. We believe that the gamification of these protocols will make it easier to interact with and speed up the adoption.
- ESW Token: It is also worth mentioning that emiDAO is where all profits generated will be distributed back to the token holders. Soon, the community will vote on all future development decisions via community governance.
I was pretty curious about all the significant milestones EmiSwap has achieved so far, and what can we expect from you guys in the future?
Ismail Bagosher: As our vision is to become a cross-chain de-fi hub, we are pleased to have launched on Polygon, Ethereum, KCC, integrated with Shiden (Astar), NEAR, Avalanche, and BSC soon. These are the building blocks of our ambitious project. We also have full-fledged DEX, staking, and farming capabilities. Moreover, as mentioned above, we have developed the necessary mechanics to create a reward-sharing governance token to ensure we remain on top. We have also established the architecture needed to achieve our instant cross-chain swap to eliminate waiting times for the bridge!
Maybe you could help the community by telling us about the benefits for users, liquidity providers?
Greg Mars: There are 2 Airdrops + Referral program + Farming Pools.
- The 365% APR airdrop: Users can provide liquidity for any pair and receive LP tokens, stake LP tokens, and ESW pair into the farming pools and win a 365% APR airdrop (per liquidity) + Additional % APR for farming + 0.25% of the platform fees paid by swappers.
- The 180% APR airdrop: Users can provide liquidity in any pool with ESW token (for example, ESW/USDT) and get 180% APR (per liquidity) + 0.25% of the platform’s fees paid by token swappers. And the referral program works for 365% and 180% Airdrops.
- XXX% APR Farming pools: Users can provide liquidity, stake LP tokens in farming pools, and receive high XXX% APR rewards + 0.25% of the platform’s fees paid for by token swappers. The XXX% APR farming pool will be launched in November/December.
The Referral Program
Level 1–3%: If you invite USER1 by your referral link, you get 3% of their rewards.
Level 2–5%: If USER1 invites USER2, you receive 5% of USER2 rewards.
Level 3–7%: If USER2 invites USER3, you receive 7% of USER3 rewards.
Emiswap seems to have a huge plan. It is already on Ethereum, Polygon, and KCC; simultaneously, it will be launching on, Near, Avalanche and BSC. What is the reason behind this move, and how can you cope with commitment?
Ismail Bagosher: Great question! Our mission is to create an easy-to-use cross-chain solution for users to interact with de-fi protocols from the entire space. To achieve this, we need to support all the major L1s and L2s. Considering that every significant L1 and L2 have its technologies and ecosystems, we believe that the first step to reaching our goal is to understand and be familiar and to build a community base with all of them.
Coping with commitments is tough, but we are getting great support from our partners to help us achieve this mission most efficiently. We are currently part of the NEAR foundation and most recently part of the Shiden ecosystem, supporting us with deploying our Dapp and capital through Dapp staking. And, of course, a massive thank you goes out to the Polygon Team and Ecosystem for their fantastic support. Once we have built our foundations in the chains we want to operate in, it will be an exciting and scale-able journey to innovative onboard products onto the DAO. Hard job, but we’ll get there!
I guess we’ve covered more or less everything, but before we conclude, I think many in the community would love to be a part of EmiDAO and stay up to date with all the news and other developments. What’s the best way to keep in touch? Also, please feel free to mention any points that you think I might have missed maybe?
Greg Mars: People can stay updated on the latest from EmiSwap or reach us on:
- Telegram https://t.me/EmiSwap_Official
- Medium https://emiswap.medium.com/
- GitHub https://github.com/EMISWAP-COM/
- Twitter https://twitter.com/emiswap
Ismail Bagosher: Thanks Aditya, I would like to say that we have designed the DAO for the community. So we encourage any ideas for projects or protocols that the community feels must be addressed.
I had a question like… I am pretty sure that while getting those milestones, you might have faced a lot of hurdles… So, What are the challenges that you faced in your journey?
Ismail Bagosher: That’s a great question. As a team of entrepreneurs, we all have our own skill sets and experiences, which have made things easier. However, building across various L1s and L2s requires a lot of care, from development to community engagement. One of the toughest challenges is trying to understand what chain to integrate and at what speed. A natural follow-up would be how do we keep the communities engaged until the development is done.
Greg Mars: One more challenge was to start on Ethereum. The transaction prices are high, which was a big issue for the community. Also, there was no support from the protocol. With Polygon, I’m sure we will move much faster!
Ismail Bagosher: Thankfully, with compact solutions like Polygon, we can reward those who support our journey and keep them engaged! I guess it’s clear we’re big fans of your solutions. 😄
Community questions
Can you tell us how safe our assets are when we use EmiSwap?
Greg Mars: We did 2 audits: Hacken and BlueSwam.
Can you please tell me what Liquidity Providers need to do to get 180% Apr and 365% Apr? For 180% Apr, I need to simply provide liquidity in Pair with ESW tokens, like MATIC/ESW or USDT/ESW, right? And for 365% Apr, I need to provide liquidity in any pair, for example, QUICK/MATIC, and stake its LP tokens in the Farming pool — LP/ESW? So I will get 365% on QUICK/MATIC + 2000% from Farming LP/ESW?
Greg Mars: For 180% — yes, and keep liquidity for at least 1 month. For 365% — yes, exactly.
We know some projects fail due to a lack of liquidity and trust. How will you build trust among investors to avoid these troubles?
Ismail Bagosher: Hi Beng, we have been audited by Hacken and Blueswarm, as seen on our website. Great question, Although we are building a cross-chain DEX, we will make more utility solutions. So trust is created by the development of great products.
What is the best place to get ESW?
Ismail Bagosher: Bitmart is a great place to start!
Greg Mars: And EmiSwap on Polygon.
Will there be additional use cases of $ESW in the future?
Greg Mars: The current use cases are:
- EmiSwap profit distribution among ESW holders; If the trading volume is 10mln/day. ESW holders will receive $25k per day.🚀
- Voting by ESW users;
- Ability to participate in Emi LaunchPad with ESW tokens.
- Utilities in NFTs are already on the roadmap. As well as the NFT marketplace. https://emiswap.medium.com/all-you-need-to-know-about-nft-magic-cards-7c0ec9875800
Ismail Bagosher: Thanks, it’s been a pleasure !! 🚀🚀🚀
Greg Mars: Thank you! It was a pleasure to answer the questions!
We would like to thank Polygon for hosting our team and for their beautiful questions. Thanks for reading!
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