The new DEX trading platform IFSwap was officially launched on CoinexSmartChain (CSC) at 8th, December 2021.
At the same time as IFSwap was launched, the CoinexSmartChain community held an AMA for IFSwap, and invited Bibo, the founder of IFSwap, to introduce IFSwap for everyone. The host of this event is Oliver Hampande, the head of CoinexSmartChain Marketing.
Opening introduction
Oliver Hampande：Fellow CSC family！Do not panic, you are not muted or banned, there we will start today’s AMA with IFSwap, don’t forget raise your questions to win massive $IFS.
Let’s go! I am sure you all are very excited for today’s AMA session.
Let’s welcome @bibodeng , IFSwap Founder!
Bibo：Hi, everybody! I am bibo, The founder of IFTip & IFSwap. We have build IFPool, IFTip before, now we want to bring you IFSwap.
Topic Q&A
During the topic Q&A stage, the host Oliver asked Bibo questions around some issues that users care about.
Oliver Hampande：OK, bibo, at the beginning of the AMA, can you have a brief introduction of IFSwap? What is IFSwap?
Bibo: Of course. IFSwap is a AMM-based Decentralized Exchange (DEX) built on CSC, allowing users to exchange tokens easily by liking the wallet without creating any account. IFSwap provides Swap, Farm Staking, Syrup Pool and IFO modules.
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Oliver Hampande: Pretty cool, seems to bridge multiple functions in IFSwap. While there is already OneSwap on CSC, why need a new DEX?
Bibo: Yeah, I think members you already know OneSwap. But why I want to build a new Dex for CSC?
CSC is a smart contract blockchain on CoinEx. With the ongoing globalization, more and more innovative projects will be developed on CSC. However, Oneswap was launched at an early stage. It aims to provide professional multichain tradings service, such as limit trading orders, and has suspended DeFi staking, which leads an undesirable market depth. Therefore, an easy-to-use and user-friendly DEX is needed to help new projects launch well.
In this context, IFSwap is lauched. It’s easy to use and and provides LP farming rewards to encourage users to keep trading on CSC. We also provide tools for new projects. Those who want to start an IFO and want to join a syrup pool, can contact us for help. Both users and projects can benefit from IFSwap.
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Oliver Hampande: Exactly, how can IFSwap make things different?
Bibo: Yeah, IFSwap is easy to use and encourage people to continue to use CSC for trading.cause there are LP farming rewards and other modules we can provide help for new projects.
For example, New projects who want to start an IFO and want to join a syrup pool, can contact us for help.We need more projects on CSC, We want more projects on CSC, so while we provide tools for new projects. I think users and projects want IFSwap.
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Oliver Hampande: How nice to read that. It would be very interesting. Does ifswap have tokens? And how about the token model?
Bibo: Yeah, IFSwap have it’s token — IFS,with a total circulation of 100 million,of which 50% is used for liquidity mining output, and the mining time lasts for 10 years.
Oliver Hampande: Wow…10years, amazing
Bibo: The dev team holds 15%, which is released linearly every quarter for five years.We want IFSwap a decentralized project, so as to ensure the continuous effectiveness of the team.The rest will be placed in treasure for future operations.
Oliver Hampande: Most people might be interested in #Airdrop mechanism
Bibo: IFSwap also has transaction fee, to buyback IFS.
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Oliver Hampande:So is there an Airdrop on IFSwap? What is the airdrop strategy?
Bibo: IFSwap will give airdrops to users on CSC. Before our snapshot time, 2021–12–08 20:00 PM Singapore time, users who can meet any of the following conditions will be in our airdrop list:
a. Users holding IFS-ERC20 receive 1:1 airdrops
b. Users have used IFPool, and holding iCET
c. Users have used WaterLoan and holding WAT
d. Users have used Oneswap and holding ONES
e. First 50 person retweet our AMA tweet
Each unique CSC active address can get 200 IFS, the retweet user get another 100 IFS, airdrop will be launched in a week after AMA. If there are IFS tokes left, they will be sent back to Treasure Vault.
Oliver Hampande:That would be great! Can i confirm whether the snapshot time is already passed?
Bibo: Yeah, The snapshot time is pass, but if you used protocols of CSC, such as OneSwap, IFPool or WaterLoan, you will get this. We will analyse onchain actions.
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Oliver Hampande: What does the launch of IFSwap mean to IFT?
Bibo: Yeah, some of you may know IFT?
Oliver Hampande: Yes, i know that.
Bibo: IFSwap is conducive to flourish CSC ecosystem and bring together our IF protocols. Users can stake on IFPool, exchange tokens on IFSwap, and lend on WaterLoan. All these protocals together build a DeFi ecosystem. They can support each other, and facilitate more innovation DeFi. For example, iCET generated by staking on IFPool can be deposited and borrowed on the lending platform. This scenario is very reasonable and can release the user’s token liquidity. As a new project token, IFS can be matched into a trading pair with IFT, so that users can swap easily, and IFT can be used on IFSwap.
After a DeFi closed-loop, or IF Networks as we call it, is built to meet the the needs of users for swap, lending and staking on CSC. We will push IFTip as the entrance of those DApps, which means a lot for IFT.
Oliver Hampande: Understood, great usecases and fuel in the whole ecosystem.
Bibo: Yeah, You are right! In short, The DApps support each other’s Token, and make more use cases.
Now IFT all staked on IFPool or lending on Waterloan. The liquid part is small.
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Oliver Hampande: Great to hear that, where can i start my Journey with IFSwap?
Can you also share some links?
Bibo: hah, actually, we launch it today. You can visit it in here ifswap.finance
Oliver Hampande: Thanks so much for your kind answer, it will be very helpful for us to better understand IFSwap.
Users also ask for about 10 questions after Topic part, Bibo have answered it. The AMA has come to a successful conclusion. We hope that everyone will have a deeper understanding of IFSwap and have more expectations for the ecology of CSC. We hope that there will be more and more projects on CSC family, and we will work together to build the CSC ecosystem.
