HECO AMA Series Recap — CroxSwap
Guest:Founder & CEO of CroxSwap：Jesse
Host:Andy of HECO
Introduction — Segment I
Welcome, Jesse. Could you tell us about yourself? What did you do before CROXSWAP and why did you choose to work for CROXSWAP?
Hello Everyone, I am Jesse, Founder of CroxSwap. I started croxswap an year ago with an intention to create a best passive income platform for everyone. Before starting croxswap I was a programmer and database engineer for over 10yrs. I worked with many multinational companies.
Reason for choosing CroxSwap was, I realized there are not many sophisticated products that offer sustainable farming and cross-chain interoperability. That’s when the idea of CroxSwap came in.
Q&A — Segment II
- Could you tell us more about your project? In other words, what does CROXSWAP do?
Croxswap is a multichain fully decentralized next-generation yield farming protocol. It offers unique ways to earn rewards for providing liquidity with single and dual farming strategies. Croxswap is solving the missing piece of a puzzle in DeFi by providing an opportunity for other projects to deploy their liquidity pools without any hassle of coding farming contracts.
2.There are many similar out there, some have been quite successful. What is special about CROX compared to other projects?
Crox has been unique since the beginning where we have built sustainable farming strategies with optimized APYs. With Croxswap any liquidity provider can stake one LP token and earn two reward tokens at once with a single harvest option to save the gas fees while claiming rewards. We have tried multiple rewarding systems as well. One of them was a Grand pool where you stake just CROX and earn 15 partnered tokens in a single harvest.
3.Great, could you give us some info on the CROX Token?
Sure. CROX token is a limited supply token with only 5,000,000 tokens as Max supply across all chains. Crox will become rarer every day which will lead to more demand and less supply.
CROX token is currently used as a reward token for our dual farms and also a native token pool. It has a high yield APR% compared to non-native tokens.
4.What would be one’s motive to hold CROX tokens? What can we do with $CROX ?
There are many reasons why one needs a CROX token and where it will be useful.
CROX has multiple use cases as it is a utility token.
1. You can stake CROX and earn other tokens as rewards
2. CROX is given out as a farming reward token
3. CROX can be used in our upcoming launchpad where you get discounts on presale tokens if you are a crox holder
4. CROX will be used in our cross-chain bridge as a bridge fee token to create seamless and gas free transactions.
5.Discuss your roadmap for 2022 and what new features can we expect by end of the year?
Our roadmap is very solid for 2022. We have been in the industry for a year now. In 2022 we planned to deploy our new token with an unlimited supply which will become a farming reward token while CROX will remain as a bridge fee token. Our new token and Dex will have a cross-chain aggregator to find the best prices for swapping across multiple networks.
Before that we are going to launch our new single token vaults to optimize the yields which are more than just vaults.These vaults will have a jackpot included.
For example, You will have an option to stake HT or HUSD and optimize your APY , 1% of the yield is send to a monthly jackpot pool where one user will earn 70% of the jackpot and 20% is redistributed back to all depositors. 10% will be sent to a Grand Pool for following month. More details will be provided in our next medium post with a how to use guide.
For detailed roadmap you can check out https://docs.croxswap.com/road-map
6.What value does Croxswap bring to HECO chain?
With this amazing partnership we are going to open multiple pools and farms for HECO users. We are going to develop Do-it-Yourself/(DIY) pools where project owners can create their own farm using our platform without any deployment of farming contracts from their end.
7.If you were to summarize your project in 1 word, what would it be? Why?
Sustainable Farming — Because we use different strategies to overcome the impermanent loss for liquidity providers and also help gain liquidity for other platforms.
8.How do you guarantee users’ asset security?
We value our community and their assets. All our contracts are audited and security is our high priority. In the last one year we have been keeping everyone’s assets safe and scanning for vulnerabilities regularly.
9.Awesome. Anything else you guys would like to add before we go into the live questions session?
I would like to say many thanks to the HECO team for giving this opportunity to bring croxswap in front of valuable users. Keep an eye on our upcoming vaults + jackpot pools. They are going to be single token pools where we are going to use tokens like HT, HUSD etc. Thank you once again. Feel free to ask any questions regarding croxswap.
HECO Chain is a decentralized, high-efficiency, and energy-saving public chain, and the first product launched on the HECO Chain Open Platform. On the basis of supporting high-performance transactions, the compatibility of smart contracts is realized. HECO Chain’s native digital asset is HT, which uses the HPOS consensus mechanism.
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