Falcon Swap AMA with Crypto Daku

November 11th 2020 — Tim and Eric, co-founders at FalconSwap participated in an AMA within the Telegram Crypto Daku group. Below is a report of this AMA

daku saurabh
@Tim_falcon welcome

Tim | FalconSwap
Thank you Daku for inviting us for the AMA here

daku saurabh
Time to start :)
Hi All , welcome everyone. We are having Falcon Swap team here for this round of AMA.
Welcome
@Tim_falcon @eric_falconswap for this AMA

Tim | FalconSwap
Great to be here

daku saurabh
Before we start AMA, we will love to know about your role and day to day work experience in FalconSwap

Tim | FalconSwap
I am a co-founder at Falcon Swap and a blockchain developer for over 5 years. I trade a lot saw the growth in the popularity of Uniswap and other protocols and the issues that come with that and started working on building a solution for it, and then once we had everything ready we decided to move forward with the launch.
I am responsible for development and outreach at Falconswap

daku saurabh
its 2nd AMA with falconswap : Can you tell community about falconswap idea in general. And what all has been done since TGE till now in terms of development and partnerships

Eric | FalconSwap
This is our second AMA here and there has been a lot done since the launch of our token.
Completed the first iteration of the protocol and platform
Launched private beta
Updated contract and platform
Launched Public beta
Tested the protocol on mainnet
Currently running bug bounty
and also working on bugs to prepare for mainnet launch

daku saurabh
when is next version going to be launched? zero gas fees is something which we all are looking for .

Tim | FalconSwap
We are working on launching the version to the mainnet. Working on fixing some bugs and multiple optimisations.
Can not give the exact date for the launch as we need to get audit done too but we are close to finishing everything from our end.

Eric | FalconSwap
Adding to this, we will be launching zero gas fees trading too

daku saurabh
Important dates:
💥Public Beta Release — 22nd October 2020
💥Bug Bounty — 23rd October 2020
💥Additional Pair Addition — 27th October 2020
💥Mainnet Deployment — 29th October 2020
💥Bug Resolution — Ongoing
💥Audit — TBA
💥Mainnet Beta Launch — TBA

Public beta is packed with core functionalities of FalconSwap protocol:
✅ Gasless transactions
✅ Privacy trading
✅ Order aggregation
✅ Layer 2 Order matching
✅ Withdraws to any wallet
✅ Non-custodial trading

here are notes for falconswap , we are soon going to be in Audit and then beta right?

Tim | FalconSwap
Yes, we are currently undergoing bug resolution phase and will be going to audit after this

daku saurabh
regarding partnerships: Can you tell us partnerships done in past few months (latest i remember is with CHainlink price oracles)

Tim | FalconSwap
Chainlink is our latest partnership
We also partnered with
Open predict
Dextools
Ethverse
Trustswap
And many more projects
We will be sharing the news about more partnerships in the coming days

daku saurabh
What are next 100 days priorities for you?

Tim | FalconSwap
I remember the last time I was here we shared our plan and we are glad that we are on track to accomplishing that.
For the next 100 days we will prioritise on launching everything in our development pipeline and market to a wider audience.

daku saurabh
nice. lets open floor for questions from community

Question from JaKi
Layer 2 scaling solutions are just one component of the complex Ethereum 2.0 roadmap. Isn’t it ? How developers apply L2 scaling solutions for ? Without compromising the security of the L1 blockchain, How could Falcon Swap achieve faster blockchain transaction times, and lower fees?

Tim | FalconSwap
Our L2 scaling solution is as secured as Ethereum blockchain, FalconSwap runs on Ethereum. The faster speed and gas fees savings are achieved by our protocol and relayer network.

Question from Md Tanbir
Your project looks good but it confuses me that there are so many other swap project. What should I pay attention in #Falcon_Swap platform to give it the importance it deserves? What are your planning to achieve with your project?

Tim | FalconSwap
Falconswap is a completely new and unique concept that uses same underlying pool of Uniswap but aggregates orders and matches them before they are sent on Uniswap or other AMM pools. This saves both gas fees and slippage.
Moreover, FalconSwap offers privacy trading where the details of the trades are not associated with the buyer’s or seller’s address when you check on Etherscan.

Question from Isaaco
-Bug Bounty program are used to check for vulnerabilities in smart contract. Do you have any on-going? How can we participate in your bug bounty program?
-You recently launched your public beta. Have you opened up registration for beta testers? How do we test Falcon Swap public beta?

Tim | FalconSwap
We will have a professional audit done after an internal audit.

Question from Hendra sico ©®™
As a Layer 2 protocol, how can I achieve high THROUGHPUT, solve the problem of scalability, and interoperability and what’s your Comparative advantages over other layer 2 chain like Matic, chromia…?

Eric | FalconSwap
All the orders are aggregated first before sending the final order to the blockchain. So, a lot more orders can be executed and matched within a single transaction.

Question from �💲💵C_ryp_tO 🐳 P_ott_eR👓💲💲
FalconSwap has a very interesting name. What does it mean for creators? And will it mean an incredible focus on DeFi platforms?
@Tim_falcon @eric_falconswap

Tim | FalconSwap
For us it’s very inspiring as Falcon is both agile and lightweight. That’s our vision for our project.

Question from van
The financial markets, cryptos market … all fell due to the covid-19 epidemic. Does this affect your project development plan?

Eric | FalconSwap
Not at all, we have been actively developing despite the volatility in the market

Tim | FalconSwap
We kept on delivering our promises and people believe what they see not what they hear. Our community has a trust in the project because they have seen how much work has been done and constant growth Falconswap has seen since the launch.

Question from Arta
All platform that use a SWAP mechanism, must affront 2 issues, the low Liquidity ( that cause Big spreads between orders) and Slippages, so can you tell me how you will solve this instrinsic limitations?

Eric | FalconSwap
We use the liquidity of the Underlying AMM pools, so there is no issue about liquidity as well as slippage.

Question from 👙Kimmese👙
Currently, there are many cryptocurrency projects based on blockchain to develop with good ideas but still fail. So on what basis does FalconSwap succeed?

Tim | FalconSwap
We are no longer an idea, plus there is a need for this platform and people are looking forward to use it.

Question from Maksym
When FalconSwap keeps user funds safe, who will be in charge of security?
Is it possible to earn FSV tokens in addition to providing liquidity?

Tim | FalconSwap
The platform is completely non custodial, so we have no control over funds.

Question from ︵❣️Kim AI︵❣
What is the objective of $Falcon Swap in 2020? What are $Falcon Swap strengths compared to other projects? Are there any fFalcon Swapre issues that #Falcon Swap Defi will need to improve and change? Please let us know

Eric | FalconSwap
The objective is to deliver our promise and start getting adoption.

Question from 💲💲💵C_ryp_tO 🐳 P_ott_eR👓💲💲
Really with FalconSwap you will get the “lowest gas rates” in each operation? even when interacting with UniSwap will it keep your gas costs to a minimum? or will it be changeable?
@Tim_falcon @eric_falconswap

Tim | FalconSwap
We will generate revenue in the platform and that will be used to cover the cost of the gas fees. Great thing is that user pay the same trading fees as they pay in Uniswap, so no added costs to the users.

Question from Hendra sico ©®™
Why bring in ERC-1155? Could FALCON not perform as expected without ERC-1155 FT integration systems?

Tim | FalconSwap
We never brought in ERC1155, It seems you are confusing this with another project.

Question from Jibon Alip
We can see uncountable amount of Hacking & Leaking News today in this Cryptocurrency Space. How you ensure that the assets of #Falcon-Swap Users are Safe and Secure?

Tim | FalconSwap
The funds are completely non custodial and we will not have any control over the assets at any time.

Question from Cosmos
Congrats on bringing a successful testnet, how satisfied are you about the work you’ve done till now ? Do you think u could’ve done better or faster ?

Tim | FalconSwap
We are very happy with all the work we have done so far, we are very close to completing a challenging task of building a new protocol which is unique.

Question from Mun Dog
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?

Tim | FalconSwap
We have been actively building our community and will keep on expanding and even at a bigger scale when we launch.

Question from Om
Hi Falcon swap team 👋
Who will do the auditing and when can we expect the report to be published ??

Eric | FalconSwap
The audit firm will be decided once everything is completed. We have talked to multiple firms but will finalise based on who can deliver it on time.

Question from ︵❣️Kim AI︵❣️
Your token supports DEX liquidity and transaction growth, what strategy are you employing to turn it into a stable token with higher value than that of the competition?

Tim | FalconSwap
The stability with the growth of the audience. We are at a much lower marketcap than the competition and look forward to capture the value of the platform in our token after the launch.

Question from 💲💲💵C_ryp_tO 🐳 P_ott_eR👓💲💲
Since FalconSwap is a layer-2 scaling solution built on Uniswap, how will you remain stay relevant for users if Uniswap solves its problems in its Version 3 or other Swap platforms like Sushiswap or Honeyswap or LuaSwap gains massive traction?
@Tim_falcon @eric_falconswap

Tim | FalconSwap
If other platforms gain traction then Falconswap being an aggregator will use the underlying pools on them.
Privacy trading will still be highly important on Ethereum mainchain and with that Falconswap’s relevance will grow.

Question from KIM ♥️♥️
Do you have any reward programme event ongoing or upcoming,please give us details & do you have any ambassador programme also? Many community organize event for attract more people. It is also main thing for attract investors.

Tim | FalconSwap
We will launch community building exercise soon

Question from Honey Badger
What do you think is the future of digital collectibles and NFTs and how then does FalconSwap plan to be at the forefront of this innovation?

Tim | FalconSwap
We have plans for that too but we will share more details about that at a later stage, the first thing in our priority list is to get the platform on the mainnet and commence trading.

Question from Issac sa
Many DeFi protocols are clones of existing ones, can you show us your genuineness and key features that helps you stand out

Tim | FalconSwap
There is not one like Falconswap.

daku saurabh
https://academy.binance.com/en/articles/impermanent-loss-explained
We don’t have an AMM pool in Falconswap so there is no issue of impermanent loss.

Tim | FalconSwap
Or I should say Falconswap is not like other swap platforms, this is a new protocol.

Eric | FalconSwap
We do not have the issue of impermamnent loss as we use the underlying AMM pools like Uniswap

Question from Chan
Now what problems do you see in the blockchain environment that is preventing you from growing and what are you doing to solve it?

Tim | FalconSwap
So far we have received a very positive response from the defi trading community and since we are solving some of the pressing issues associated with trading on Uniswap and other similar platforms, we are confident we will build the traction needed to take Falconswap main stream. And if any challenges comes our way then we can certainly handle them.

Question from AzeRaE
How long does the team need to stay anonymous. Is there any legal (non-compete) issue to stay anonymous. Pre launch reveal ?

Tim | FalconSwap
The team has preferred to remain anonymous to maintain the privacy feature of our platform and we plan to keep providing that.

Question from TRUST ME
Staking contribute to the success and development of a project and community,is there any plan for staking?

Tim | FalconSwap
Yes, we will launch staking by next month

Question from Quang
How does Falcon Swap intend to stand out with so many Crypto projects out there?

Tim | FalconSwap
We are unique and fill a gap in the market. We are addressing a demand not trying to create demand for something people are not aware of.

Question from Crypto Andre
tim, eric appreciate your works. you guys doing really good but any possibility of hiring any marketing guy ? imo we need more exposure for falcon while many wp projects making noise 🦅

Tim | FalconSwap
We have been actively talking to more people in the industry and are in progress of expanding our marketing operations

Question from FSer Lim ♥️♥️♥️
Why does FalconSwap still use Ethereum blockchain while it has a slow speed and high gas fee?Do you have any plans to launch your mainet or convert to other blockchains in the future?

Tim | FalconSwap
We do not have any plans to launch our own blockchain, people use Ethereum because it is secure. Plus the added friction of moving to another chain is derring for most traders.

Eric | FalconSwap
We are not limited by the speed of Ethereum as we can accomodate much more orders and accept them on the relayer network in our trading cycles.

Question from Hizz
What do you think is holding the DeFi space back? What is preventing the mass adoption of DeFi products?

Tim | FalconSwap
Defi is still a very new industry as compared to other traditional financial services. It will get mature with time.

Question from OH SAD
Currently, Asian attaches great importance to Blockchain technology, is this a great opportunity for FalconSwap ? How is the FalconSwap project planned to develop in Asian?

Tim | FalconSwap
Didn’t quiet get your complete qustion but if you are asking about interface in local asian languages then we will have that.

Question from Issac sa
I want to know are you are made 2 types of tokens (staking token and fee token)?

Tim | FalconSwap
There is only 1 token — FSW

Question from Fidelia South
The market in the upcoming dynamic season will be quite volatile, most investors will be less active by the end of this year, so FalconSwap plans to organize any upcoming events to implement. More interesting for the crypto market as well as the year-end market?

Tim | FalconSwap
If things will be quiet then it won’t be a bad thing for us, infact it will position us at the forefront when things start heating up again.

Question from xza OIIOIOIOIOIO
From a startup project to a mainstream project being a pioneer in the industry do Falcon Swap team anticipate that many new startups will show up and compete?

Tim | FalconSwap
There is a possibility of new startups to pop up in this space but being a first mover and a team who will be working on more improvements will keep us ahead of the curve.

Question from Alice ☺️☺️
I’m a white hat hacker in internet do you think your system is secure enough from hackers? Does your project have a program that rewards individual vulnerability detection of the system?

Tim | FalconSwap
The system is being thoroughly tested and will undergo audit too.
But we will really appreciate if you may want to participate in the bug bounty as well, the rewards for finding any serious bug is good.

Question from 👙Kimmese👙
FalconSwap is great, but from an investor perspective, I’m still worried about hackers. What technologies does FalconSwap use to enhance user safety and peace of mind?

Tim | FalconSwap
User signs the transaction to trade the funds associated with his address and we can not move them or have control over.

Question from Au ns ra
Many investor only focus on the price of token in short term instead of real value of project. Can you (as a FalconSwap Team) tell us the motivation and benefits for investors to long term?

Tim | FalconSwap
This platform comes with tons of features including prvacy trading and zero gas fees trading option which are highly needed in the decentralised trading space. The value of token will be realised sooner or later as we are dedicated to build a kickass platform.

daku saurabh
thanks for joining for this AMA @eric_falconswap @Tim_falcon
was pleasure to be host again

Eric | FalconSwap
Thanks for having us here

Tim | FalconSwap
Great to be here again for the AMA
Looking forward to another one after we launch on mainnet

Question from Ghazi
What you guys will do after uploading the code in github and see alot of competitors copycat the cofe and launch similar project and probably could pull out the rug from you guys similar to what happen with uniswap and sushiswap ? Im long time investor on falconswap and worried about that ( late question ) 😬

Tim | FalconSwap
Sushiswap does not have a significant liquidity when compared with Uniswap, it did pull away some liquidity from there but since Uniswap has a dedicated team behing it, people trade there.
Even if any copycat platform launch, people will know that we will always stay ahead of them.
We have a lot planned for the future

Question from AzuRae
Elliotrades was bullish about falconswap and now does not speak about it. Have you tried contacting him for sponsoring a promo

Tim | FalconSwap
He is still a holder, he is aware of all the progress and wanted to wait till he tries out the project.
We are confident that he will cover us

For more information about FalconSwap & Crypto Daku

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