FairySwap X Crypto Lab
? : 15th March ,2pm UTC
Venue: https://t.me/TheCryptoLab1
FairySwap:https://fairyswap.finance/farms
Michael Schofield: Hello everyone, I hope all doing great here ❤️
Please welcome our today guest @tinker_block from the team of FairySwap ?
Michael Schofield: Hello, @tinker_block how are you?
Tinker Block: great,happy to be here
Lets start Our Today AMA
Michael Schofield: Firstly, please introduce yourself with us.What’s your role in Fairy Swap and also introduce your team with us?
Tinker Bell:Hi everyone, my name is Tinker Bell, one of the contributors of FairySwap ?♀️?♀️?♀️ currently focused on Fairy’s product and community initiatives.
I am leading the marketing and growth team to pioneer and innovate the blockchain ecosystem. After graduating from New York University from the States in 2014, I started my entrepreneurial journey in the Fintech industry building unicorn startups in Silicon Valley.
I have been looking at the blockchain industry for the past few years and have been fascinated by its exponential growth and the vision of the Web3 world. I strongly believe blockchain and crypto will transform the future of the financial industry and lead to a more decentralized, democratized, humanized future for our next generation, benefiting billions of people. With my background in fintech, I was naturally attracted to DeFi when the industry was still in its infancy.
Having witnessed the growth of the industry from early projects including UniSwap, Sushi, Compound, to the DeFi 2.0 today, I feel extremely privileged to join this journey with the smartest people in the world. This also brings me to my journey with FairySwap.
Michael Schofield: It’s our pleasure to know about you tinker.
Here is my 2nd Question
Q2: Now please tell us about your project “Fairy Swap” What were the initial thoughts and motives behind this project?
Tinker Bell:FairySwap is the first Automated Market Maker (AMM) Decentralized Exchange (DEX) built on Findora, a new kind of blockchain that provides on-chain confidentiality and programmable privacy. With Findora’s EVM, FairySwap gives you unbelievably fast cross-chain swaps with Layer 1 chains like Ethereum and Binance Smart Chain, while minimizing fees and maximizing efficiency. Fast and inexpensive privacy on public blockchains — that’s the magic of FairyLand.
FairySwap is pioneering Findora’s DeFi and metaverse future and is 100% committed to privacy protection, auditable transparency, and permissionless access. We’re creating a future where anyone in the world can access needed financial services without exposing personal data or risking identity theft.
Michael Schofield: Awesome, Now there will be lots of opportunities for the Findora Blockchain users.
Here is Question No 3
Q3: Fairy Swap is looking stronger as compared to others. My question is which features of your project will attract more investors and players towards your project?
Tinker Bell: In terms of transactions, FairySwap has built DEX on Findora and gradually implemented cross-chain transfers with Rialto bridge integration to capture high yields and privacy protection on Findora.
In terms of NFT, FairySwap is developing the DEX NFT, where NFT artists come from the industry. Different from other NFT markets, FairySwap’s native NFT market will endow NFT with community rights, future platform NFT buybacks, and many other innovative initiatives.
In terms of community， FairySwap has active local users from Europe and the United States, Korea, Japan, Vietnam， and other places, all of whom have contributed to FairySwap by participating in DAO. At present, these communities are still under construction. We believe that with the development of the mining ecosystem, our DAO organization will be much stronger.
Michael Schofield: No doubt, FairySwap has unique features as compare to other decentralized swaps.
Here is 2nd Last Question Of Our First Segment
Q4: Please share complete Tokenomics of your token with its distribution and use cases?
Tinker Bell: For DEX, we know that liquidity is the core mechanism for the rapid development of the platform. Encouraging users to add liquidity to the platform requires a fair and reasonable incentive mechanism. Part of the core users come from the supporters of the platform itself, and the other comes from high-quality project parties. The incentive for the latter is the specific difference between FairySwap’s mining ecology and other DEX’s.
FairySwap has its own mining mechanism, and any project will have the opportunity to be launched for liquidity mining. As long as the project complies with the platform algorithm rules, mining permission will be granted to gain the trust of users. This kind of decentralized mining mechanism is very rare in the market.
The projects participating in mining are completely free from the interference of the centralized organization, and all the projects conforming to the contract algorithm can participate in mining.
Profit is fairly distributed, without labor and other centralized factors involved in decision-making.
LP ming block：
1、LP mining of Platform token
When LP treasury pools reach 100k USDT and the commission fee exceeds 100 USDT for 3 days, then users can start FAIRY token mining.
46% of FAIRY mining tokens is distributed to LP mining of platform tokens.
All LP pools shall adjust the pool mining ratio according to the commission fee ratio
2、LP mining
When LP treasury pools reach 200k UPDT and the commission fee exceeds 200 USDT for 3 days, then users can start FAIRY token mining.
32% of FAIRY mining tokens is distributed to LP mining.
All LP pools shall adjust the pool mining ratio according to the commission fee ratio
LP mining profit calculation:
Individuals token output = individual staked funds/ total staked funds in the pool * daily token output of the pool
Daily token output of the pool = daily LP mining output * mining ratio of the pool
Single token mining block:
10% FAIRY is allocated to single token mining block
The mining ratio is based on the number of staking addresses or the amount of funds. The single token launched initially is Fairy and FRA
Transaction mining block
12% of total FAIRY is allocated to transactors via transaction mining, where users should participate in specified transaction pairs to do transaction mining. Specific rules will be announced till opening.
The idea of complete decentralization is not only to continue the spirit of DeFi, but also to tap into some early high-quality blockchain projects and give back to the community in the form of mining rewards. The launching of FairySwap not only enjoys the dividend of the initial tokens, but also mobilizes the activity of the community again.
Michael Schofield: Cool, there will be so many great products going to launched by FairySwap ?
Here is My Last Question
Q5: What are your aims in next 2 years according to your roadmap? What if I ask you what is the ultimate goal of Fairy Swap?
Tinker Bell: After liquidity mining starts, FairySwap will also open a cross-chain bridge to solve the transaction problems of users in different ecosystems. In the future, Fairyswap will be more open, innovative, and diversified, and develop in the metaverse, NFT, DAO governance, and other fields.
NFT Marketplace: Open up the NFT marketplace and launch building blocks for a play-to-earn RPG game to establish anonymous on-chain identities. FAIRY tokens holders can purchase FairyNFT, participate in GameFi, and other metaverses Dapps.
DAO governance: The FairySwap Protocol is managed by a global community of FAIRY token holders through Fairy Improvement Proposals (e.g. adjusting pool parameters and yield farming multipliers, adding/subtracting trading pools, integrating new ecosystems, taxation policies, etc.)
Thankyou so much for the in-depth Information, now it's time to start the Twitter segment
Lets hear some Twitter Questions
With the rise of axie, the"play to earn"game market is getting everyone's attention. Players care about how much money they can make from the game. So what in the game #fairy_swap farm will attract a large number of players to participate?
FairySwap Farm is not a play to earn game, it’s a liquidity mining program, so there are some basic differences between those two model. Basically, user need to provide liquidity on FairySwap and stake the LP token to earn rewards and trading fees.
Liquidity pools are used to facilitate decentralized trading, lending, staking, and we have seen that Liquidity has become an integral part of many ecosystem. Many projects run into liquidity problems. What liquidity system will #FairySwap use to increase the token value?
At launch, FairySwap will use the basic x*y=k AMM system to facilitate the DEX, but we are exploring the possibility of Curve and Uniswap V3’s style AMM algorithm.
One of the limitations of some P2E games is that they require a high initial investment to start playing, many of which are very expensive.
Can we start playing #fairy_swap with a small investment?
Will there be any discounts or benefits for early adopter's?
Any amount of investment are welcomed in Fairyswap, but you could also think about the FairyNFT, which will play a key role in future Findora ecosystem and FairyVerse.
Cool ?
STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your GREAT PROJECT have plan about to Staking?
Yes, right now you could stake FRA on FairySwap to earn FAIRY rewards, for more info, please visit
https://www.fairyswap.finance/pixie_drop
Michael Schofield: Thankyou so much for the in-depth Information, now it’s time to start the live segment.
Q1: Do you have AUDIT certificates? or, Are you working to AUDIT your project, to make it more secure, trustworthy and reliable?
Tinker Block: At the audit level: Our code has been audited by the most reliable company CertiK, and you can check the detailed report on this page: https://www.certik.com/projects/fairyswap.
At the technical level, FairySwap’s code is 100% open source and open to review by anyone. Finally, our cross-chain solution is integrated through the Rialto Bridge, which is a mature cross-chain solution.
Q2: Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Tinker Block: The FairySwap Protocol is managed by a global community of FAIRY token holders through Fairy Improvement Proposals (e.g. adjusting pool parameters and yield farming multipliers, adding/subtracting trading pools, integrating new ecosystems, taxation policies, etc.)
Q3: Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?sir
Tinker Block: ?Follow us on:
Website: https://fairyswap.finance/farms
Twitter: https://twitter.com/fairy_swap
TG Ann. https://t.me/FairySwapANN
Reddit: https://www.reddit.com/r/Fairyswap
Q4: Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Tinker Block: At present, the DEX track on the market is relatively mature, such as Uniswap and Sushiswap, etc. As the first DEX on Findora public chain, our first advantage is that we have the whole Findora ecosystem as support, which can be used as a springboard to obtain more community support through our own economic system.
A secondary advantage is private transactions. FairySwap leverages bleeding-edge cryptographic algorithms, including atomic swaps and anonymous transfers, to create ZK synthetic assets to protect trader privacy.
Our third advantage is cross-chain transactions. At present, with the Rialto Bridge integration, FairSwap supports the cross-chain transfers of various tokens from major EVM ecosystems. For example, with the Rialto bridge connecting to both BSC and Ethereum, many tokens on BSC and Ethernet can be transferred to the Findora Smart Chain at a very low cost (the Rialto Bridge will initially reimburse users for crossing-the-bridge fees). Users can trade quickly on FairySwap at a very low gas fee and gain privacy protection of assets when recharging and withdrawing money through Advantage two.
Q5: Since NFT is popular nowadays, is there a plan for NFT integration?
Tinke Block: After liquidity mining starts, FairySwap will also open a cross-chain bridge to solve the transaction problems of users in different ecosystems. In the future, Fairyswap will be more open, innovative, and diversified, and develop in metaverses, NFT, DAO governance, and other fields.
NFT Marketplace: Open up the NFT marketplace and launch building blocks for a play-to-earn RPG game to establish anonymous on-chain identities. FAIRY tokens holders can purchase FairyNFT, participate in GameFi, and other metaverses Dapps.
Michael Schofield:@tinker_block ,Thanks For That Amazing Session
Tinker Block: thx for holding this great session!
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