JP:Make members feel happy while using the blockchain.20210302

At 20:00 on March 2nd, 2021, Vswap founder JP was invited by the community to provide a wonderful speech. During the speech, JP explained in details with the development plan of the online Vswap DEX, staking concept, community badge, NFT community economy, zkrollup layer2 improvement plan, and answered 10 community questions that users care about. The following is the recording, let’s listen to what he said carefully:

In the past few weeks, we have launched the function of the ETH,TRX wallet and launched the Vswap swap function running on Ethereum. So today as invited, I will provide some hints for the next steps.Now,the current test is about the asset deposit and staking function on Ethereum and the design of the community badge. We are also working on the relationship between NFT’s economy and VAL, and how to collect and auction NFT works of community members.

First of all, the opening of the Vswap swap function on ETH is good news for us. This allows our community to use our own products to exchange Eth assets, so in the near future, assets related to Vswap will also be available through Vswap Performing staking and liquidity pool mining, then we have technically realized the first step of multi-chain development. Regarding the release on other public chains, technically we need to do some migration and optimization. But now we have some world-leading understanding and ideas about Swap, and we want to upgrade some technologies on the current basis. These technological upgrades involve many combinations of algorithms and complex functions, which require some cleverness and experimentation. At present, we are studying some technical documents of Ethereum Layer 2, and are studying the optimal purchase routing solution for Layer 1. This attempt has not been fully developed by other developers in the world, so we are willing to try.

Regarding assets, everyone knows that one of the functions of Vswap is that you can purchase assets through Vswap. We have always hoped that through our efforts, more people can participate in the blockchain. However, the development of blockchain technology is a challenge for ordinary people.It’s a difficult professional Industrial project. So we thought of the concept of using Non-Fungible token assets, which means the only asset ID around the world. We hope that through our guidance, the community can begin to understand the type of blockchain assets and try to create NFT assets by themselves. It will be a breakthrough for members. You can sketch, take photos, edit, and do graffiti. As long as it is your original creation, you can transfer it through V-wallet. Then the Vswap node can select the NFT artworks that can be listed for auction through internal voting. The auction revenue part belongs to all participants in the node community, and the other part belongs to the creator himself.

We hope that through our efforts in the next period of time, members can touch crypto world assets and community assets, and can personally invest in asset creation, which will be permanently recorded on the blockchain. We think it means a lot for the history and the community and individual.

Regarding how to apply for a node, we will use the method of staking ETH on the blockchain to first select the Ethereum sub-community. Community members can obtain community badges for free through staking. Each community badge represents the right to establish a sub-community. The sub-community will be established in the future. Node affords many important social functions such as asset production, auction submission, and VAL deposit guarantee.

This is the main part of our development team in the past and next stage. Feel free to ask questions.

This is the arrangement of our development team in the next stage. You can ask questions if you have any

1. Excuse me, because of the congestion and high gas fee of Ethereum, why Vswap still choose to dock on Ethereum first? Will Vswap dock on other public chains in the future?

Solidity development and EVM memory are derived from Ethereum technology. Other public chains that are currently well developed have referenced a lot of structures from Ethereum and performed partial optimizations. Basicly,ethereum has become a technical standard for blockchain development, using its own language and framework, and the developer community is very active. We are more inclined to carry out migration after solving all the problems that need to be solved on Ethereum. As for congestion and gas costs, it is understood from the perspective of blockchain that this is precisely the requirement of Pow’s data non-tampering strength. There are many solutions based on layer 2 to alleviate this problem, and this problem can be solved.

2. What is DEFI, and what is the relationship between vswap and defi?

My point of view is that: Defi is a data specification and data distribution function running on the blockchain. In essence, all valuable tokens recorded on the blockchain are just strings. In the eyes of users, defi is a technical tool that allows you to directly buy and sell assets without going through the server, and transfer tokens between your own address and contract addresses under your control.Many parts of Vswap function run on the blockchain, which means that Vswap has many defi products and designs. The DEX on Vswap can realize trading through the blockchain without intermediary intervention. . The transaction function of Vswap is not stored on any IDC server, but on the blockchain. The blockchain helps Dapp complete the data storage function. Then Vswap is the concrete manifestation of the blockchain.

3. When will the Vswap node be started and what are the requirements for operating a node?

You all see the node icon in app,what’s the node is not eos node,Let me explain our Vswap node meaning.The node is actually a sub-community in our design. The sub-community has its own economic cycle. We are designing the on-chain staking function of Vswap. The staking function will be very creative. The eligibility of the node is obtained from the staking on the chain in the first stage. Vswap will open USDT, ETH, DAI staking pools on eth. These three types of staking pools will allow users to staking assets to the specified contract, so the bonus is the community badge.Community badge is ERC20 on ETH. In our community, who has collected 1 community Badges, whoever is eligible to initiate a Vswap node. You can collect it independently, or you can initiate a group to assemble together in the wallet. This community badge will have its own NFT ERC-721 token in the future. It will be very valuable, and at the same time it will be the spiritual symbol and revenue certificates to this node. The community badge collected on ETH will represent the consensus of the ETH community in Vswap.

4. What is the development goal of Vswap? What are the advantages compared to UNISwap and Heco DMEX transaction, and is it competitive?

The ideal of Vswap is to make members feel happy while using the blockchain. In Vswap, you can trade assets with the best price in the entire network. In terms of technology, what we are interested in is not the same as other applications and DEXs. What we care about is how to buy assets with your address more quickly and with low cost, so the price,the speed of search and interaction are what we hope to be able to break through. After using Vswap DEX, you will find that Vswap has reached the capabilities of similar top leading products，but for us, it’s not enough. The next step may be to do more research work on Layer 2 to reduce gas. Vswap also has its own wallet and community design. On this aspect, other DEXs currently do not have it. We will carry out more commercial construction within the community so that every member can participate in commercial activities.

5. Does VAL have plans to list on to a centralized exchange in the future? In addition to vswap, which exchange will it be traded on?

Vswap token VAL will issue the permission to listing on centralized exchanges in the form of a whitelist, and these exchanges can dock VAL contracts for listing.

6. How many stages will VSWAP follow and plan for developing?

The personal role construction of the community will be the function we will launch in the next stage. System will provide the community and leaders’ activities more freedom. The NFT (non fungible Token) economy will be a scenario for the circulation of production transactions within the community. The main reason is that the NFT will ignite the brightness of community, bring self-creativity, which will promote the potential value and circulation of VAL. You can create your artwork and submit it to V-wallet, just like other program developers submit Dapps. I think there will be More ordinary people participate in the blockchain and leave a mark that belongs to you. V-walllet will assist you to produce ERC-721 marks or more unique global unique certificates, then you can confirm your creation through this symbol and profit in the community. At the swap side, we will continue to dev the technical route of Layer2 ZKrollup and put more transactions on lower-cost Markov tree.

7. Is the V-wallet transfer function enabled before listing on the exchange?

The community badge will enable the internal transfer function in the community, and community members can collect or donate community badges to prepare nodes.

The internal transfer of VAL will not open until the end of stage one mining.

8. What scheme and tech are used for real-name authentication?

We have an AI recognition system that will be used to test this performance in the future.

9. What ecological construction plan does Vswap have in the future, and what is the value?

The ecology of Vswap is what I am most interested in. First, we provide swap functions, currently on Ethereum, and later on more public chains. On Ethereum, we will try to integrate and reconstruct the two technologies of aggregator and Layer2 to create a low-rate transaction environment, which means that Vswap transactions on ETH require the lowest gas cost in the world.

We are designing the NFT transaction scenario, because NFT is community origin digital asset. In addition to the Swap function, we will create NFT auction method, making NFT become a popular asset in Vswap community. After some progress has been made, in terms of wallet decentralization, Vswap’s browser will be integrated with the wallet to provide an interface for dapp access, and the dapp provided by the community developers of the Mandalorian Project will have opportunities list on the page. These dapps will include interesting peripheral applications such as banking, lending, and games. Val will be able to connect developers, community nodes, digital asset creators, and community members, then we will become an economy together.

10. How long will VAL be opened for trading, what is the initial price set at, and what are the expectations?

Currently, VAL is not open for trading, we don’s want members join Vswap only for price,we want a pure community grow up with Vswap. There is no VAL on ETH for trading now,VAL only exist in V-wallet at this moment. Currently, it can only be obtained through V-wallet. I also hope that everyone forgets the price, because price is an Illusion by measuring the unit currency of another economy with the unit currency of this economy. The Vswap economy is expanding, and the total amount of tokens remains unchanged. At an ever-increasing reasonable price,what we need to do now is to expand the economy through the power of the community.So that more people realize that Vswap is a very interesting community, then Val’s circulation and usage scenarios continue to increase, VAL will be more valuable. Therefore, the value of VAL is not only depending on developers’ hard working,but the community also needs to realize that the more people in the community accept our concept, the better the price performance will be.