Recap of AMA session with AliumSwap team
Thank you for participating in the AMA Session held on August, 10 on the AliumSwap Telegram group with Denis Denisov, Chief Executive Officer at AliumFinance.
For those of you who may have missed it, below is a transcript of the questions revealing the project and those that came up from different members:
Can you describe what stage the project is currently at and what has been achieved?
Denis Denisov: So far we have achieved most of our Roadmap goals for the period. We launched Alium.finance MultiChain DEX with 4 chains Binance Smart Chain, HECO, Polygon and ETH, and fully audited it. We launched Alium.art NFT Marketplace on BSC and attracted many creators. But the most important updates are what will come soon.
What are the expected use-cases for $ALM token besides the upcoming farming feature?
Denis Denisov: ALM is the core of our ecosystem and we are working on integrating Farming, Staking, Strong Holders Pools, ALM Auctions on NFT Marketplace and ALM NFT Game Utility.
A pressing question from all our local communities: what’s the current and future marketing strategy?
Denis Denisov: Our Marketing efforts are now focused on preparing for the Big Launches of Mobile DEX App, Cross-Chain Bridges, Farming, Strong Holder Pools and NFT Gaming. All these 5 events will be big milestones in terms of Marketing and Promotion, so expect something Big very soon!
Any chance to uncover any of the upcoming updates to the community and our audience? A hint to what to expect from the future of Alium?
Denis Denisov: The next couple of months are going to be very eventful! We will be launching Mobile DEX App, Cross-Chain Bridges, Farming, Strong Holder Pools and NFT Gaming and Marketing Campaigns to accompany each release.
Can you explain to us how do you guarantee enough liquidity to your swaps? What are the incentives that you offer to the liquidity providers?
Denis Denisov: Our main upcoming incentive is the Farming Feature on 3 Chains BSC ETH and Polygon. By Providing liquidity users will earn loads of ALM, access Strong Holders Pools and some will earn Rare NFT Characters from the Upcoming Game. And as usual — earn a decent % from all the trades done with their Liquidity.
Many projects raise funds with IDO, ICO, Presale, etc. events. in fact, once listed on the market, 70% of them just play pump and dump schemes and end the story with Rugpull. What makes $ALM Different and won’t do the Same Schema? And How do you earn Community trust?
Denis Denisov: Well, as I’ve mentioned before the Public Sale, our Project has quite a long Development Cycle with many DeFi and NFT Products to be released. Anyone can see our Progress and Roadmap Milestones which we achieved after the Pancake listing. Despite the low price of the token we continue to deliver our promises and working on our Products and Ecosystem. Our upcoming Updates, Products and Partnerships will help us to drive the Utility, Price and Community up again.
I would like to know if you have completed any security checks? We have seen dozens of hacks, exploits and the like this year so what measures have been taken to protect the AliumSwap community?
Denis Denisov: Every product and Smart Contract we release is fully audited by the Top Smart Contract Security firms — Chainsulting, Certik and Hacken.
AliumSwap decided start with BSC to become an “AMM leader” on this network, but currently there exist so many good AMMs on this chain, like SushiSwap and PancakeSwap, so can you tell us what are your “weapons” to affront them a be the first option to traders?
Denis Denisov: Our main “weapon” is the CrossChain Bridges and a variety of Blockchains. We already implemented 4 and will implement even more this year, to allow our users to trade MultiChain in a safe and convenient manner. Our Farming Feature will ensure Liquidity and New DeFi and NFT Products will provide Utility for those participating in it.
Revenue is an important aspect for all projects to survive and maintain the project/company. What are your plans and ways to generate profit/revenue from tokens? In regard to this please explain your income model?
Denis Denisov: Our products all have different Income Models:
- DEX profits of Trades and Cross-Chain Swaps
- NFT Marketplace profits off NFT Sales Commissions and Partnership Placements
- NFT Game with Play To Earn Feature will profit off Players’ in-game activities and NFT sales
What are the biggest advantages to be a Alium Shark and hold big amount of tokens?
Denis Denisov: We will be releasing many Utility Features for ALM. Strong Holder pools will let the long-term Holders Get increase the number of their Tokens and get NFT Gaming Characters. Farming will allow Holders to earn more ALMs by maintaining liquidity in the trading pairs. Staking, ALM NFT Auctions, NFT Game, all these features will benefit the Holders
Alium came out a little later than the NFT hype, at the moment NFT games have become the leaders in popularity and rate growth, does Alium have any ideas in this direction? Perhaps a partnership with a project or launching your own game?
Denis Denisov: NFT Collectibles are still a Developing Market, with the Initial Hype gone, it’s time to focus on a more serious and sustainable development.
As for NFT Gaming — we’ve been working on creating our own game since the beginning of the project. However, making an interesting and engaging game is a much more difficult task than producing a half-baked early 2000s game copy with some NFTs thrown in during the Hype.
Our Gaming Concept, Setting and Character Designs are in the late stage of Development, and we will soon reveal something Big and Exciting.
Alium means different. Apart from being different, and with more markets than just crypto (NFTs), is it Aliums aim to make other exchanges obsolete, or to serve a market that hasn’t been covered yet?
Denis Denisov: Actually, it’s quite the opposite — we aim to create a DEX that can coexist with other exchanges and benefit DeFi users with our solutions. We aim to provide users with fully audited Cross-Chain Bridges to connect the divided DeFi world and provide them with our DeFi and NFT Products. In light of the recent Hacks or Cross Chain DEXes, we put an extra focus on the security of our Contracts and welcome any project or Chain who want to benefit from our Solutions to participate.
So many projects already exist in the market aren’t able to grow due to useless features and no real use-case of their product. What is the strength & the uniqueness of your project that I can’t find in other project offerings? Can you list outstanding features of your platform?
Denis Denisov: We are aiming to build an advanced MultiChain ecosystem with a focus on the Utility of the token. We strive to keep evolving and integrating the most advanced Blockchains, Products and Solutions to accommodate the needs of DeFi and NFT users. Our MultiChain solutions and Bridges are fully audited and let our Users experience DeFi in a safe and convenient manner. Our start wasn’t so Flashy and the road has been difficult so far, but we strive to make it long term and prevail, be it Bull, Bear, or Crab Market.
You point out that you have a great diversity of DeFi products that meet customer demands, but could you really tell us a little more about the products that are already available and those that are still in development?
Denis Denisov: Sure! The DeFi product which was already developed is a MultiChain DEX with BSC HECO ETH and Polygon. As for the ones in Development:
- Cross-Chain Bridges between the Blockchains
- Smart Farming will allow users to get extra benefits for providing Liquidity
- Strong Holders Pools — community pools for ALM and more which will allow the Long Term Holders benefit from the “paper Hands” and get NFT Gaming cards as extra rewards
- Staking to allow users to increase their holdings
- NFT Game with Play to Earn mechanics to let users Profit while enjoying the game
The big problem for a lot of Defi projects seems to be that when farming starts, the price goes down because people unload to put liquidity into the farm. Will there be an incentive to hold and not just farm and dump?
Denis Denisov: Yes! Strong Holders Pools and Staking are designed specifically to Prevent the Farm and Dump. Staking lets users Stake their coins “against time” while Strong Holders lets users Stake their coins “against other Holders”. NFT Gaming will also be a great Utility Tool to prevent dumping and redirect ALM supply towards sustainable circulation.
I could read that Alium Swap will carry out multiple special activities in our official communities, but could you really give us more detail about it? how often will they take place? and what will be its theme?
Denis Denisov: Our Big Community Activities will be related to the Big Launches. For example — once the NFT Gaming Characters arrive — we will hold a giveaway for community members and NFT purchasers. Another example is the Distribution of the Early Supporter’s NFT with Inbuilt Benefits which just happened while we were holding this AMA.
Yield farming has come to stay in the DEFI space, please tell us how AliumSwap compares to many yield farms offering high APY on liquidity staking, and why would crypto investors pick it over other yield farming opportunities?
Denis Denisov: One of the key differences and advantages we offer — we will hold the Farming on Multiple Chains. Another key difference is the Strong Holders Pools where the Farmers can earn even more Coins than farmed initially as well as NFT Gaming Characters from the Upcoming Game
A-a-a-and that covers up the community questions section for today’s AMA session as well as the AMA itself! Today we had our CEO Denis Denisov answer all of these wonderful questions! Thank you, Denis! Don’t forget to check up on our community from time to time.
Denis Denisov: Thanks for all the great questions asked today. Don’t forget that you can ask yours anytime in this chat and @jan_alium and our wonderful Community Management team will answer them.