Bean, Project Lead of SmolSwap, dropped by to talk to Kahoobb about the exciting stuff they have been working on and to take some questions from the community. To celebrate the AMA, five members from our community who took part in the question-and-answer segment at the end were selected to win 50K SMOL each totaling 250K SMOL.
Kahoobb: Welcome everyone to our Smolswap AMA! I would like to welcome @bean_smol. @bean_smol How are you? 🙂
Bean: I’m good! how about you?
Kahoobb: That’s good, doing great myself. Can you give us a little introduction about what your project entails and what your role is in it.
Bean: Hi everyone! Here’s short introduction to SmolSwap: SmolSwap is the cutest fair launch decentralised trading platform on the Cronos chain where you can trade and earn in a safe, simple, and fun manner. I am the Project Lead of SmolSwap so I do pretty much everything else outside of dev work haha
Kahoobb: Nice! I do like your logo, very cute! So what utility does $SMOL bring to it’s investors?
Bean: $SMOL captures the economic benefit of the whole SmolSwap ecosystem and will also be used for governance purposes in the future. We are also looking to build a suite of products that will be using $SMOL and so in general, we’re looking to create more use cases for $SMOL
Kahoobb: Great, sounds like we are very early to smolswap 😄 There are many other dexes out there, what does smolswap bring to the table that is unique? Can be something as simple as art design as we all know how that can play a big role in gaining dex dominance
Bean: yes we are very early indeed! For one, I think we definitely stand out in art design. but the art design also reflects our vision of making things fun in defi. another intention we had was to attract more females into defi as we think it’s currently dominated by males haha
And also in line with our vision of making things fun, we are also looking to build games like lottery etc. we are still deciding on this.
Kahoobb: Great vision, defi is for everyone! Excited for those future games. So for the $SMOL Token, what do the tokenomics look like?
Bean: $SMOL currently has no hardcap, which is common for a dex. but we have deflationary measures in place as can be seen here: https://smolswap.gitbook.io/smolswap/tokenomics/controlling-smol-supply
Kahoobb: Reduction of block emissions, token burns, wow pretty cool! Good to see that smolswap has kept inflation in mind to make deflationary measures.
Bean: yup we are definitely aware of the need for deflationary measures with a token that has no hardcap
Kahoobb: I noticed on smolswap the different farms you offer, if I am correct, they currently are all large cap coins, can we expect to see smaller cap cronos altcoins on your farms in the future?
Bean: yes absolutely. as our farm pools only launched less than 3 days ago, we’re starting with the large caps first but we’re slowly moving to altcoins. this requires us reaching out to projects to convince them to list their native tokens with us. we have started with autofarm (although some would say they’re still a large cap coin)
Kahoobb: Wow they are very new! And getting autofarm, that’s a great start to getting altcoins! Sounds like partnerships may be on their way. very exciting.
Bean: yup and we’re also monitoring the projects that are coming in. as of now, there hasnt been too many in my opinion
Kahoobb: I know you touched on this a little bit already but do you have any plans to add more features or utility into smolswap in the near future such as NFTs, lotteries or anything like this? Is there any specifics?
Bean: as far as features are concerned, we’re current focused on building up our Farm and also start working on Smol Pools where SMOL holders can stake SMOL and earn another token. Concurrently, we’re also exploring games/lotteries and IDO/launchpad. NFTs would be a bigger project so that would come after the aforementioned. Then followed by our risk adjusted products as a longer term plan
Kahoobb: That’s great to hear, sounds like there is a lot to come for smolswap, great to know a SMOL pool will be releasing to earn other altcoins, very cool concept.
Before we go to the community’s questions, would you like to share with us your social media links, website, etc.?
Bean: yup here they are:
- 🌏Website: http://www.smolswap.com (https://www.smolswap.com/)
- 📔Medium: https://medium.com/@SmolSwap
- 🐦Twitter: https://twitter.com/SmolSwap
- 💬Telegram: https://t.me/smolswap
- 👾Discord: https://discord.gg/ec4xF3v46z
- 📕 Gitbook: https://smolswap.gitbook.io/smolswap/
I will now unmute the chat so the community can ask questions @bean_smol please go ahead and choose the top 5 questions you’d like to answer, and those will be the winners of the giveaway today! Smolswap is sponsoring the giveaway and our winners will receive from the prize pool of 250k $SMOL Tokens!
Bean: ok sure!
Kahoobb: I’ll then mute the chat back up for you to answer their questions! We will DM the winners, and collect their wallet addresses, and then we will post tx id’s as soon as our accountant does our weekly payroll. Once the 5 questions have been answered, feel free to stick around and chat with the community if you’d like, we’d love to have you here.
When asking your questions, please put this 🐶 emoji 🐶 in your question so we know you aren’t a bot. Thanks. Chat is opening up now!
Community Question #1
Begay: Is your platform suitable for crypto beginners? Or does it only limited for professional users ? 🐶
Bean: yes definitely suitable for crypto beginners. that’s part of our vision of making things simple here. we also have a very engaging team and community to assist with any questions a beginner might have.
Community Question #2
Crypto: Has $SMOL been Audited if yes then by whom and if no so when are you going to make it happen and which platform is on your priority list to get Audited 🐶
Community Question #3
Kara Obrien: How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project? 🐶
Bean: Yes we will definitely look to build these communities. In the meantime, you can use our platform in different languages. We just started hiring mods so will look into engaging mods who speak the other languages.
Community Question #4
Kunal: How do you plan to attract more women into Defi because we surely would love to see that? 🐶
Bean: Beyond the cutesy design, we are also looking to approach female crypto influencers to see if they would like to support our project. any recommendations are welcomed!
Community Question #5
Salvador: How $smol can become $swole serr?
Bean: with the strong support of the community users like yourself 😉
Kahoobb: Awesome! @bean_smol Thank you so much for taking time out of your day to tell us about smolswap! I also forgot to mention that Prizes will be paid by end of day Monday EST. Chat is reopening up now!
Bean: Thanks for the great AMA 🙂