HECO AMA Series Recap — iSwap
Guest: Michael — Commercial Director of iSwap
Host: Andy from HECO
Q1: Please igive a brief introduction of iSwap such as background, positioning, mission, etc.
A1：iSwap ( www.iswap.com), is a cross-chain transaction platform with fast speed(up to 3 seconds), the most complete tokens supported( more than 3000+ tokens) and low cross-chain handling fee(0.2% handling fee), which is deployed on HECO, BSC, Ethereum, OKExChain and Polygon chains.
This is the first time that the cross-chain transaction time has been shortened to the second level, which is 15 times faster than the transaction time of the similar type of cross-chain solution in the market. It is also another major infrastructure change in the DeFi following after the Uniswap AMM system.
iSwap’s mission is to enable users enjoy low transaction fees, fast speed, more supported tokens and lower slippage while they complete cross-chain transactions.
Q2：How and why did your team decide to establish iSwap?
Well, the DeFi has been popular for nearly 4 years. The needs of assets exchange between different chains has been growing greatly.However, when the iSwap team entered the DeFi world in early 2021, we were surprised to find that cross-chain transactions were still complicated and low efficiency. As you know, the time is money in DeFi, and iSwap hopes to provide hundreds of thousands of DeFi users with a better cross-chain experience.
Moreover, our team has a strong background and technical support in IT, network security and development, which can ensure that iSwap can bring convenience to users, so iSwap was launched in early August.
Q3：Well, since we are talking about of cross-chain, there has just been an asset stolen incident some days ago, and users are more concerned about security issues, so how does iSwap control the risks?
A3：Here is the principle of how we design iSwap.
First of all, iSwap does not lock positions or own LP. All assets in the cross-chain positions in different chains are hold by iSwap itself. The market maker mechanism is introduced to re-balance the positions and ensure the fluency of cross-chain transactions.
Secondly, we have a strict private key protection mechanism to protect the security of the administrator account and Relayer account.
In addition, iSwap currently only supports cross-chain transaction between the same address to avoid the risks of transactions between different addresses.
Q4：iSwap has been growing rapidly in the last 3 months. Can you give a summary briefly?
A4: Yes, for sure. iSwap officially launched the beta version in early August by supporting the cross chain swap between HECO and BSC. In that period, we cooperated with HECO and Huobi Wallet to launch LuckyHECO events and Welcome New Users from Huobi Wallet Event to establish the iSwap earlier users.
On September 6th, iSwap was launched officially, supporting the cross-chain and single chain transaction between 5 chains (HECO, BSC, ETH, OEC and POLYGON). At the same time, iSwap received millions of investment from Huobi Ventures. To celebrate the iSwap official launch, iSwap cooperated with Mdex to launch the “Cute Elephant” Speed Challenge Event. This is the event which enables more users knowing and using iSwap as their cross-chain platform.
From September to October, iSwap have established in-depth partnerships with ButterSwap, Booster, MakiSwap, Jswap, CherrySwap,Xswap and users can directly experience iSwap’s 3-second cross-chain service on their website.
Really appreciate for the support and trust of the relative parties.
Meanwhile, we launched a multi-DEX version this week. Now it covers 30 DEXs and 3000+ tokens, which provides users lower slippage, more tokens options and the fastest service. It is also what we commit to provide to our users.
Welcome to experience our new version in https://www.iswap.com
Q5：Congratulations, we see that the iSwap is supporting more chains and tokens, and improved a lot. Will iSwap offer any prize for launching the iSwap Multi-DEX Version?
A5: Yes for sure, we hold a Multi-DEX event today together with ButterSwap, CoinWind, CherrySwap to bring more than 30,000 USDT total prize pools to iSwap users, welcome to join this event, the event link is www.iswap.com
Q6：Wow, it is a big event with such a huge prize pool. Maybe the users can’t wait. Besides, the users are more concerned about our following-up product development, would you like to talk about it?
A6: Okay, we will continue to update the products. From the perspective of users, the chains, such as arbitrum, Fantom, and Avalanche, are the most popular recently. We will integrate these chains into iSwap ASAP.
In addition, we are also preparing for cross-chain aggregation transactions to offer the best transaction route for users to save the transaction costs. It will be launched shortly.
Q7：Very good! iSwap always considers from the user’s point of view. Here is another question that users are more concerned about, will iSwap issue tokens?
A7: Hahaha, this is also the most FAQ in our community. The first thing iSwap considers is how to improve the user’s cross-chain experience. So we will focus on offering better cross-chain transaction products and will not consider issuing tokens at this moment. Really appreciates for for iSwap users’ understanding and supporting.
Q8：At the end of the talk, can you briefly introduce how to use iSwap?
A8:We will recommend the best DEX for users, and then begin to swap.
The handling fee, trading route and gas fee will be shown on the transaction page. Just with a simple click, the assets will be traded successfully within 3–10 seconds.
The clean-designed interface and smooth operation are also warmly welcomed by iSwap users.
Q9：Would you like to introduce the iSwap official information channels, so that we can follow iSwap to get more events and upgrading information?
A9: Welcome everyone to to join and follow iSwap community! The links are as follows, we will release the latest events and upgrading information in our official channels. (Such as iSwap Multi-DEX V3 version with $30000 prize pool event was launched already), so welcome to participate the event and following iSwap to get latest information, thank you again!
Twitter: @iSwapCom
Telegram: iSwapCom
Medium: @iSwapCom
Email: contact@iswap.com
About HECO
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.
· HECO Website
· HECO Twitter and Telegram Channel (For the latest news)
· HECO Telegram Community
· HECO Discord (Welcome all developers to join!)
· HECO Explorer
