Swipe LIVE AMA 5/31

Caroline Santos

7 min readMay 31, 2021

Welcome to the AMA

Thanks for joining everyone, and I am sorry for the delay. So lets jump right into it:

TLDR Updates:

⁃ Swipechain Technical Paper released

⁃ Venus Incident Post Mortem published (No insider)

⁃ Swipe will no longer manage the Venus Project

⁃ Joselito will focus on health & Swipe

⁃ Swipe Reward Token will be enabled through Governance

⁃ Swipe organizational and community changes

⁃ Retroactive SRT Farming Program to commence

(Date to be determined)

All details about the AMA can be found here: https://joselitolizarondo.medium.com/joselito-ama-5-30-edition-b1bfb122afe5

The contest winners are: @luckycecilia28, @ZeeOMad, @Skye0600, @Anthony142212, and @ter_atas1. I have added a follow so please DM me to claim your part of the $10,000 AMA reward.

I will be doing a live AMA instead at the 3am slot in the @SwipeWallet chat room at 03:00 UTC to answer questions that are posted in regard to the AMA.

Thanks,

Q: When will you burn 10million sxp ?

JL: My founder allocation has already been burned in full.

Q: Could you elaborate on the detail of the Venus protocol liquidation airdrop compensation detail?

JL: The Venus Council will be handling this once they have more details surrounding it.

Q: Are swipe tiers coming to Binance cards?

JL: They already are for grandfathered Steel and Slate, for actual opt-in tiers for new customers is a work in progress and we from Swipe side have no control of its timeline right now. But if you had a previous order and we open in a new region you can be grandfathered in.

Q: What’s happening with the APY ( bsc farming ) on swipeswap?

JL: Farming rates will be improved once we have the rewards mechanism launched.

Q: When is single swipe token staking coming?

JL: As mentioned in the AMA we plan for this to come out the same time SRT mining starts. So i would assume, but not 100%, by summer.

Q: First, I have always enjoyed your managing of both products, and I wish you best with your health concerns. I was just wondering if you could elaborate on the method for the upcoming srt AirDrop Nd what required to get it, Ty.

JL: Thanks Sean for the kind words. In regard to SRT Airdrop, the way it will work is very similar to how 1inch and Uniswap worked when they launched their tokens.

We are finalizing the terms internally, but it will be retroactive to liquidity providers and users.

Q: USA slate holder here. My card and I are sad. We miss each other.

JL: I can only imagine :/, Binance.US has its own priorities right now, but we are trying to get a clearer timeline on this and will post if we do.

Q: There are so many Turkish SXP holders..actually i think they are more crowded than others who speak in English.

JL: We will work to get more turkish engagement.

Q: Given the size of the community and the value/utility of SXP, are there any plans for an “SXP” launch pool similar to “BNB” launch pools?

JL: There are plans to address this. Especially now that from Swipe’s and my side its all SXP and Swipe, we will have more to share on this in the coming weeks.

Q: What’s the incentive for liquidity providers on swipe swap from now until SRT is released? Seems to be better options to stake elsewhere.

JL: We will iron out these details ASAP. It’s not ready to share yet.

Q: When can we expect to hear from the new Venus Council?

JL: I hope within the next 1–2 weeks, maybe sooner. It will be composed of prominent and well known ecosystem players who will control the protocol moving forward and work with the community.

Q: Is there a Swipe logo on the back of the Binance card?

JL: Yes

Q: Would you describe the election process for the new Venus Council?

JL: Please wait for a public announcement on this. I am pretty sure you wont be disappointed.

Q: Is there a time and date window for compensation? And will the market conditions be taken in consideration when determining this? As they go hand in hand. Thanks.

JL: There are alot of variables, better to let the Venus Council handle this question in the coming weeks.

Q: Hello @JoselitoLizarondo sir, I am @Skye0600 from the twitter AMA winner’s list. I haven’t yet got a follow back to DM the details sir!!

JL: I will double check Twitter

Q: Can we have an example on how using a binance credit card results in a fee being paid in sxp. If I make a credit card purchase part of the fee gets converted to sxp?

JL: Please see swipe.io and scroll down to issuing to see how the fees work.

Q: Health is more important than money so let people pray for you :) Save swipe because it is diving.

JL: Health is wealth. Something I will be focusing now more of my time on while we establish pure focus from an organization level on Swipe.

Q: Why did you choose ThorChain in particular?

JL: THORChain has a proven trackrecord in cross-chain swaps. They have the entire architecture built out, we can easily retrofit it into our protocol and bootstrap cross-chain swaps. This was the logic.

Q: Hello Jose VRT so much use cases, I’m have so much big hope with this token from venus, could you tell us your planning in 2 years ahead for this token? and when we can start using its use case?

JL: VRT use-cases are previosuly in the supplemental white paper for that. Please take a look when you can. Thanks.

Q: Where do you and the Swipe team see the world of blockchain being in years to come, and how will Swipe change the landscape of the cryptocurrency space in years to come?

JL: Swipes key has always been bridging crypto and commerce. I think along the way we let that part of our business just become a backburner while we tried to solve DeFi. I see that changing in the next few weeks in a positive way.

Q: Is there any specific partnership between Swipe and American Express?

JL: No.

Okay thats all i saw that I could answer that wasn’t duplicate.

I will open it back up for a minute for any popup questions. Thanks.

Q: Is Swipe planning a 100m SXP max cap? When do you think it’s going to be achieved?

JL: I dont have a magic ball sorry, but yes on the former.

Q: @JoselitoLizarondo where is the VENUS AMA?

JL: This is the AMA + the one in my official channel

Q: when will you burn the xvs?

JL: XVS burn will be decided upon by the Council

Q: Most of investors just focus on the price of coin in short term instead of real value of project. Can you tell us the motivation and benefits for investors to the Swipe coin long term?

JL: This is a good market analysis. For Swipe, we are changing off-ramps fundamentally. We believe we have the partners in place to continue to be the leader in crypto off-ramp products and we will focus our attention where we have the highest probability of success.

Q: Then who will continue with Venus sir? Is there a Binance team to help?

JL: Binance and Swipe are helping the transitions over to the new Council. Its not an overnight job, requires alot of changes, but its happening as we speak.

Q: When SwipeSafeMoonMars? Kidding aside, are we still on track to release Swipechain by July?

JL: So far yes re: testnet

Q: Will Binance have more say in the over all runnings of swipe now?

JL: Yes until i return to a 100%

Q: Who receives the sxp fees paid? And what happens with those coins?

JL: Swipe and nothing as of right now. #HODL (Not Investment or Trading Advice)

Q: issue 83256 waiting since 2,5 months for my refund money and lost coins. support still cant help me.

JL: Send me PM please.

Q: @JoselitoLizarondo Sir, any news on Swipewallet V2?

JL: Not yet, it’s a work in progress. We may change some items here.

Q: Is the bnb validator program still a thing on xvs with 45% apy?

JL: The Council will handle this, but yes its still on the roadmap.

Q: @JoselitoLizarondo What took you guys so long that working with venus protocol together with swipe delays the progress of swipe so much?

JL: I think due to me not having as much oversight as i did in Q4, alot of things didn’t have quality checks and risk control. This changes today.

Q: Hi Joselito, wishing you the best of health:) With the new Venus council, how can they ensure that the protocol is truly decentralised? And not control from top down

JL: The Council will have incentives tied to their independent association with Venus.

Q: If the new venus council has already been chosen and began developing, will they make it known sooner than a few weeks who they are? Any acknowledgement from them would be great sooner rather than later. Hope you feel better soon.

JL: We are working on an announcement here to finalize the transition.

Q: The LP withdrawals on swipe defi are not working. Are the devs fixing it on priority. Thanks for any answers.

JL: Please use metamask for now.

Q: Thank you for your time today Joselito. I hope you recover very soon. Could you please tell us a bit more about Binance future involvement in Venus? Thanks!

JL: Binance is not involevd in Venus, but they are shareholders of Swipe which ran Venus, Swipe was ran indepedently for a long time as part of our acquistion plans. But since my oversight has deminished due to health reasons, this changes as well to help bootstrap Swipe back on track. Venus will be ran by an independent Council of pros.

Q: Who choose the xvs commitee members?

JL: Swipe and Binance are helping with this process right now

Q: @JoselitoLizarondo even posted on n Twitter for help and nothing

JL: Send PM

Q: Perhaps ignore credit cards and skip right to crypto merchant platform

JL: Our Card market is growing exponentially. No reason to cut it.

Okay thats all i can answer; if i skipped a question its not because i didnt read it, its just I cant answer it right now.

Thanks everyone, back to work. Take care and have a good week.

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