GrapeSwap AMA
27th May, 2021
See the compilation of this amazing 1st GrapeSwap AMA
Grape Community Users and Grape Team
1 — What made you start GrapeSwap?
Grape Team: We are a team of software company which part is pointed to financial process for blockchain (Lidia). As a project for Binance Chain and other blockchain we started at Jan/1 the Grape Token to arrive all of our projects in Blockchain. We’re experienced team developing for blockchain since 2017.
1 — Please explain how the burn mechanism will work?
Grape Team: We have stages for distribution and burn. At this moment we are in distribution moment. In order to boost price we should create tools to allow Grape owners to activate burn process based on users usage. Users which has more Grape/Grape-up tokens in use into Grape system could receive a burn token ticket that will burn the Grape reserve. It is under internal discussion about technical way to do that, but it may occurs in the next months.
3 — What’s the next blockchain for grape? ETH? SOL? DOT? ADA?
Grape Team: We have planned deliver cross-blockchain after our V2 tools, in this order:
1- ETH + POLYGON
2- FTM (FANTOM)
3- HUOBI CHAIN or AVALANCHE
after that
- SOLANA
- POLKADOT
4 — What’s the purpose for 10 Grape-up token and how do you intend to use each?
Grape Team: At first platform uses Grape Token as main token and other 10 Grape-up tokens that can be used to improve earnings as Power-up. As ERC token it is “tradeable” and can be offered based on how much earnings 1 Grape-up token represents in Grape profit.
We also prepared these tokens in Staking, Farming and Liquidity Provider to bring for Grape-up token owners more flexibility when they dont want just use it as power-up.
5 — What’s special about Grape V2?
Grape Team: We consolidate the last 3 months of user usage, understanding strong and weak points. We’ll improve these areas:
- User experience improvement using a ONE tool for ALL, more integrated and easy to use.
- Preparing for a cross-chain integrating. - New tool versions:
- Stake and farming
- Auction
- Instant Buy
- Rewards
- Airdrop marketing tool
- Order book
- Burning
- Deep Tools
- Lotterry - and more…
6 — But the price of grape-up does not correlation to the market and amount of total supply of each grape-up
Grape Team: For present moment have no correlation, we are looking for future Grape price vs (acquisition of Grape-up or Grape-up usage to improve Grape earnings). In other words, some Grape-up may keep their prices when Grape Token raises, but all of this will be defined by free market.
7 — Why not burn some supply to keep positive pressure on price?
Grape Team: It could be possible to do, we are in discussion for Grape-up reserve reducing, but we prefer to enter with V2 before. The burning tool will be in V2 … we don’t want to burn it by our own decision, we prefer that each holder decides to burn their own position (relative quantity).
8 — Why is the grape liquidity so shallow? When will liquidity increase so some of the yield can be converted into profits? Typically, the dev team provide the initial liquidity supply. Why have they not or when are they planning to provide?
Grape Team: We are the developers of Grape ecosystem but we are users and investors like everyone who believes.
We are not an investment fund, we are a development team capable of providing tools to advance in DeFi, Cross-Chain and DAO.
The function of providing liquidity belongs to everyone who believes in the ecosystem.
Currently, there is little liquidity because the community is growing organically. This need more time to grow but it is more consistent and long lasting.
We look at successful models like Uniswap and Pancakeswap, not token models that are born one day and die the next.
9 — You are saying you want grapeswap to grow organically?
Grape Team: Exactly, fast expansion may occurs but organically. The first year of Uniswap was organically, after entering in a network effect…the network effect depend of all of us…Grape users
10 — How will GrapeSwap market this project in a space that is becoming some what saturated? For example how will you get users to use your platform rather than amms like PancakeSwap?
Grape Team: All of us can see PancakeSwap as a black hole inhaling everything, but for now crypto business has low representative market. It may increase in next year beyond Pancake or another currenty big platform. So we will grow together. That’s why we don’t see a saturation yet.
We are also preparing to new blockchain network entrance, so it may bring new users.
An finally we are so different platform if compared to thousand of copies of pancake that exists, with different products and layout.
We are a development team that is always innovating. We will not stop launching exclusive tools. The network effect time will come for sure.
11 — To go organically, cross-chain makes sense, but have you considered other fast growing transaction based markets, such as; sports betting, gambling, prediction markets? You mentioned lottery, so maybe explain more of that.
Grape Team: In the more than 20 years of software we have developed for several areas:
- corporate
- financial
- artificial intelligence
- stock Exchange
- gaming and gambling
- operation system
and any other computer science tools
everything is possible! Lottery will be a great tool
12 — For somebody that wants to support GrapeSwap, what kind of risk should they expect when providing liquidity? Do you recommend to provide liquidity on GrapeSwap or PancakeSwap first?
Grape Team: For our users and community the better way is:
1 — first add liquidity to PancakeSwap because Coingecko and Coinmarketcap only consider volume from this liquidity pool.
2 — next, it is important to have at least 20% of the liquidity that you have in Pancake within GrapeSwap … this will make a better movement between the products of the ecosystem. Ideal that this should remain balanced 50% Pancake and 50% Grape.
Coingecko and Coinmarketcap also need the minimum and non trivial liquidity amount on pancake GRAPE/BUSD be more than USD 10K.
Follow these links to provide liquidity
GrapeSwap
BNB/GRAPE: https://grapeswap.lidia.in/#/add/0xb699390735ed74e2d89075b300761daE34b4b36B/ETH
PancakeSwap
BNB/GRAPE: https://exchange.pancakeswap.finance/#/add/0xb699390735ed74e2d89075b300761daE34b4b36B/BNB
13 — Do you plan to have audits completed and post the results publicly? It adds a lot of confidence when investors see a completed audit. Maybe even offer a way for the community to fund the audit costs?
Grape Team: The audit today no longer represents security against hacking, but rather the developer’s impartiality about the code in the smart contract.
We are already investing our development team’s time in infrastructure, security and even marketing in social networks and Google for Grape ecosystem.
We have no short-term plan to finance the cost of the audit.
The audit can be contracted independently of us because our contracts are published.
Clearly, we will be present in an audit process, but it would be a community fund to make this possible.
Our idea for Auction V2 is also to be a Patreon funding, so either the grape ecosystem can be financed or anyone can place a token to receive funds from N investors.
14 — What’s the timeline the team is considering to begin heavier marketing? The platform is so versatile it offers nearly every asset holder some way to participate. It has more farms than any other protocol.
Grape Team: The market costs came from platform fee receives. We plan to aggressive market actions for next tools which new users will be prepared to use properly Grape environment.
Our development is agile and flexible and we can place as many tokens as the market wants within farming and staking.
About aggressive marketing actions, in fact we need a network effect, whoever likes Grape should share and indicate.
We have already invested in social network marketing and Google, see how many 0.8 Grape transactions there are in the contract. This is a controlled airdrop action to give Grape taste to new users.
See the grape airdrop tools results: https://bscscan.com/token/0xb699390735ed74e2d89075b300761dae34b4b36b
15 — In addition, what marketing strategy did you use to attract investors? Also, most of investors nowadays just focus on the price of token in short term instead of real value of a project. Can you tell us the motivation and benefits for investors to the Grape token long term?
Grape Team: It is clearly a trick of some platforms which want attract investor offering just price. We are acting with differential tools like Auction, Rewards, Grape-up, Instant Buy, Order Book. Not only basic Swap/Liquidity Provider. Investors may collect high returns as we believe in platform growing.
There is no pump and dump GRAPE price promoted by ours and on official Grape groups. Our focus:
- development tools
- decentralized organizations — DAO
- you all investors and holders making money using the ecosystem, buying, selling, trading, bidding, paying using all GRAPE token circulation economic
16 — What future airdrops do you have planned?
Grape Team: V2 airdrop tool:
- timelock to provide higher amounts of airdrop (anti-bot system)
- will be more like rewards than just airdrop…the user needs to interact and use the ecosystem tools and the GRAPE token is the key
17 — Why don’t you have a pool to stake grape for BNB?
Grape Team: We are planing in near future to uses bluechips coins like BNB to offer in Stake or Rewards. It demands high reserve which we are working for.
18 — There was talk about IDO? Who are you planning to work with for IDO? There are many launchpad to pick from.
Grape Team: We have already submitted our product to all major protocols at BSC (e.g. Binance, Pancake and many others).
We still haven’t received a response from who will host this launch
We continue to work hard and with your help so that soon they look at us and launch an IDO.
Imagine what it will be like for those who already have GRAPE as an early adopter!
After this value added AMA session, Grape Team plan to schedule a monthly AMA, stay tunned!
Twitter: https://twitter.com/GrapeSwap
Telegram Group: https://t.me/grapeswap
Grape Tools: https://grapestaking.lidia.in/
