Blitz FalconSwap AMA with Crypto Revolution

April 1st 2021 — Eric and Tim co-founders at FalconSwap participated in an AMA within the Telegram Crypto Revolution group. Below is a report of this AMA

Danny | Crypto Revolution
Okay guys
Eric is online
Welcome @eric_falconswap

Eric | FalconSwap
Hey there everyone

Danny | Crypto Revolution
Welcome @Tim_falcon

Tim | FalconSwap
Hi guys

Danny | Crypto Revolution
Okay last 1,2 days are extremely hot in FalconSwap Community. Lol

Tim | FalconSwap
Last night has been eventful and I guess people were looking for this Blitz AMA
I thing things will start getting hot again soon

Danny | Crypto Revolution
Looking forward for my Advisor position 😅😅
Haha

Eric | FalconSwap
Anytime

Tim | FalconSwap
And for all the good reasons

Danny | Crypto Revolution
You are about right 😀

Eric | FalconSwap
A lot has happened at our end since the last week’s AMA

Danny | Crypto Revolution
So let’s start from here

Eric | FalconSwap
And I believe it is a good time to communicate with the community about what exciting is about to come

Danny | Crypto Revolution
We are ready
Please share all the updates and news you have 🙂

Eric | FalconSwap
So, since my AMA last week
🔹We successfully tested the protocol including xPrivacy
🔹Got an initial audit done and fixed some recommendations
🔹We had an idea to make the xPrivacy much better with more advanced on chain encryption (on chain encryption is going to be a game changer)
🔹Testing that out too and the last night’s test results have been exciting

So what’s ahead
🔸This will go to final audit by tomorrow after final testing from our end
🔸As soon as the final audit report is there, V2 contract will be launched

We will share the exact launch dates once we have exact confirmation about the completion of audit.

Danny | Crypto Revolution
Seems like people don’t have patience and were not happy with the fact that V2 Release is getting pushed back all the time! How you respond to that?

Danny | Crypto Revolution
Nice 💯

Eric | FalconSwap
Sometimes things take time, especially when we are working on innovative technology which is unique and not really a copy of anything.

Danny | Crypto Revolution
Well I personally know that! Better develop good Product than rush and put something bad out there

Eric | FalconSwap
This is not a general solution but a very protocol level development happening in areas where each feature has a potential to be a project in itself

Danny | Crypto Revolution
But I guess people want everything to go quick. Lol

Eric | FalconSwap
And people are finding trouble identifying how big is the new feature we are adding
And using the same contract, our multiple services will support each other
No matter a person is looking for cheap trades, privacy trades or payments — they need to keep the funds in the same contract
That’s the bigger vision that we are keeping
Not being narrow sighted here

Danny | Crypto Revolution
For non technical people, could you please explain what is on chain encryption and why it’s going to be a game changer?

Eric | FalconSwap
So basically with on chain encryption, this is going to become the tornado cash of trading plus payments for xPrivacy trades.

People will sign from their wallet, which will be undergo encryption before sending to blockchain and will be decrypted with the decryption smart contract. This will protect all the information sent to the blockchain. In essence you will be able to trade on decentralized, non custodial exchanges with the privacy that even centralized exchanges may not even be able to provide.

Danny | Crypto Revolution
Danny could you please ask what Xprivacy is, they keep mentioning it but they never gave a single word about what it is!
It’s still unclear of how tied is it with V2 aggregation part? Could you please clear this one as well Eric. Thank you

Eric | FalconSwap
I think my above answer also explains how xPrivacy is doing

Now about the same contract as V2, we are designing it in a way that a user can deposit tokens in the same contract no matter what feature they want o use. Then another contract that works with v2 contract for xPrivacy

Danny | Crypto Revolution
@Danny can u ask how long the audit will take approximately with taking into account the changes they made and the speed that John Wick is normally working at? Will they work on the weekend as well to push this audit through as fast as possible?

Eric | FalconSwap
The audit is expected to take about 3–4 business days. It may go a little lower of higher depending on the work the audit firm has

Danny | Crypto Revolution
Okay so before I give people possibility to ask you few questions 😀
When is the hard date for the release of V2?

Eric | FalconSwap
The hard date will be shared as soon as we have more clarity on when we are getting the audit report.
Following the best practice here and while we can just release it today, we just want to ensure we take all the necessary steps to ensure the security

Danny | Crypto Revolution
Btw you didn’t answer which Company is doing the Audit. Could you please 😀

Eric | FalconSwap
So we do testing, then internal audit, audit from some peers and audit firm
Can’t share that, people tend to bug the audit firms to know stuff

Danny | Crypto Revolution
Okay Eric. Understandable

Eric | FalconSwap
We saw that last time that people started emailing the audit firm we used for our previous audit

Danny | Crypto Revolution
Lol 😂😂
People are funny

Danny | Crypto Revolution,
Okay I’ll open the chat now
For few questions for you

Question from Enzo GEANT
Eric, Xprivacy and aggregation will be on the same contract, does that mean that both are released at the same time ?
will Xprivacy also aggregate orders or it’s an independent service ?

Eric | FalconSwap
This is completely non custodial so people remain in control of their funds and we use on chain encryption

Question from zuka44
What marketing efforts are being made and if they are not, when do we expect them to start since launch is getting close?

Eric | FalconSwap
Joint marketing activities
Explainer videos
Reviews
Outreach campaigns
Inbound marketing campaigns

Question from Cardozzo
does xprivacy will take additional cost on the transactions? fsw ftw!

Eric | FalconSwap
xPrivacy will have fees unless you hold FSW (There will be slabs)
The part of the fees will be used to buy back tokens for token burns and staking reward distribution

Danny | Crypto Revolution
Okay I left all the good ones

Question from Ayman
How will you guarantee insta transactions on low volume pairs

Tim | FalconSwap
You will be able to chose if you want instant trasaction or you need to wait for someone’s order to come

Question from luismibit
And the article that you wanted to publish today, is it still planned for today?

Eric | FalconSwap
Yes

Question from Ragnar
Is this a server based solution or will it be a decentralized peer to peer solution?

Tim | FalconSwap
Decentralized solution, the encryption is also done on chain

Danny | Crypto Revolution
Add on Question from me: When FSW Staking will be available?

Question from Hma
Can we keep our money on v1 contract or do we need to withdraw before v2?

Tim | FalconSwap
You can keep it there for now if you are looking to use it, there will be no urgency from our end to remove it

Question from tim gallagher
Hi Eric, to be clear, has v2 aggregator protocol been audited externally?

Eric | FalconSwap
Yes

Question from James — FomoSexual
Tim/Eric, In light of yesterdays “drama” do you have plans to get a community manager who you can communicate updates to daily/or often? Can I vote for that person to be Don Won? /Don_won_for_president

Tim | FalconSwap
There’s been some work done from our end and we wanted that sprint to get over before we can give more clarity. Also, Eric mentioned last week that the V2 is expected to be launched this week, this was tentative and no exact date was share ever. People assumed a date and bashed us for not launching on a date they thought.

If you know us, you must have seen that we provide exact date once things go for audit. And we have been saying that over and over. We are building a lot of things under tight deadlines and sometimes a delay for a week or something can happen.

Question from Austin
Can the team give a step-by-step checklist, so that everyone understands where we are going and the steps we have taken?

Tim | FalconSwap
I believe Eric share this early in the AMA, more steps will be shared as we progress

Question from Danny | Crypto Revolution
Add on Question from me: When FSW Staking will be available?

Eric | FalconSwap
We are working with a partner for that who is providing staking service, we will share the date with a joint announcement in the coming days
I think we have covered the questions here

Danny | Crypto Revolution
Yes sir. All done. I’m personally looking for the next IDO 😀😀
Anything for Final you would like to say
Guys
He dodged the first part of my questions where I asked if aggregation comes with Xprivacy, he’s not mentioning swapping at all…
But tim said yesterday it will come a few days after x privacy. I still have no clue how it’s supposed to be on the same contract but released at different times, I want to be talked to like if I was a 5 years old, I’m not a crypto dev :(
And before final Words may be explain more simple here

Eric | FalconSwap
1 thing, If there is an exact date for launch or any event then it will be announced officially. We will share the exact dates, please refrain from speculations.
We are in the final stages before the launch and things are looking good, just a little patience will help us a lot in taking this to masses. We are building good product and some product decisions even if they little longer are worth the wait.

Danny | Crypto Revolution
Okay perfect. Thanks guys
I think we cleared everything up
One Advise from me to FalconSwap Community: Patience guys. Patience! It’s a golden key in Crypto!!!
Thanks again for stopping by @eric_falconswap and @Tim_falcon

Crypto Revolution Telegram : https://t.me/crypto_revolution1

For more information about FalconSwap & FalconPool

• FalconSwap Website: https://falconswap.com/
• FalconSwap Exchange: https://falconswap.exchange/
• FalconPool: https://falconpool.io/
• FalconSwap Medium: https://medium.com/falconswap
• FalconSwap Telegram: https://t.me/Falcon_Swap
• FalconSwap Twitter: https://twitter.com/Falcon_Swap