Fun creates enthusiasm and energy. Satoshi Club is always full of this emotions and its guests as well. Today we would like to tell you about the AMA session with our friends from Dopeswap. The AMA took place on November 05 and our guest was The Dealer, CMO of Dopeswap.

The total reward pool was 800$ and has been splitted in 3 parts.

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&Bitcointalk community

Mary | Satoshi Club: Hello,Satoshi Club! We are happy to announce our AMA session with Dopeswap! @TheDopeDealer welcome to Satoshi Club:grinning:

D. | Satoshi Club: Hello Satoshi club! @TheDopeDealer hello and welcome!

The Dealer: Hello everyone, Firstly I want to thank you for giving me the chance to present our project to a broader public 🙂

Mary | Satoshi Club: And thank you for coming here) i think public need to know about Dopeswap 😀

The Dealer: Thanks, I will be happy to explain all the details about our project 🙂

Mary | Satoshi Club: Could you, please, tell us more about yourself and your background and of course about Dopeswap:+1: Some kind of intro:wink:

The Dealer: Sure. I am the CMO of Dopeswap. I’ve worked with many crypto project’s as a marketer but I would like to save my Anonymity .
Dopeswap aims to become a DEFI project that connect most of the DEFI Ecosystem.
Right now we already have a yield farms working.
We are going to introduce AMM DEX , Vault, Delegated Vault , Governance until New Year. We will share the rest of our plans when our New Roadmap is out. That will happen after New Year

Mary | Satoshi Club: It will be present from Santa for your members?)

The Dealer: Haha yeah, Thanks that a great Idea dough 🙂 So we already have a date for the New Roadmap 🙂

Mary | Satoshi Club: Can you share this date with us?)

The Dealer: 25th of December

Mary | Satoshi Club: as i told it will be delivered directly under New Year Tree:joy:

D. | Satoshi Club: nice Christmas gift:innocent:

The Dealer: Yes new Roadmap from Dopswap 🙂 The new roadmap will be bigger and even more ambitious

Mary | Satoshi Club: Ok, how did you understand that world needs Dopeswap?)

The Dealer: Well the thing that caught us is that most of the DEFI projects have a huge inflation and no Deflationary Features. We believe that in the world of finance is not sustanable.So we decided to present a DEFI project that have Inflationary as well Deflationary Features What is more we believe that in the future people will need to use one platform for everything of the DEFI ecosystem

D. | Satoshi Club: yes, it would be very convenient – all DeFi things in one place

Mary | Satoshi Club: And what about market competition?:wink:

The Dealer: Well we believe that we are still really early in the space. So if we work hard when mass adoption comes we will be way more prepared. Yes there is a lot of competition. Right now we are aiming to become an AMM DEX. We see really big competitors in UNI and Sushi. Anyway their token holders suffer really much. Their super Inflation is killing their token as well as APY-s. Which will at some point make the LP- providers search for a better place for their money. As you know everything is about Liquidity in DEFI. We believe that if we can keep the supply relatively stable the Price will grind higher which will make the APY-s go higher. That will of course bring more LP providers to our platform

Mary | Satoshi Club: Well, so you have tremendous incentives to develop something incredible:wink: and the world of DeFi will be yours)

The Dealer: We don’ think the world of DEFI will be only ours. It’s main idea is decentalisations. So there will be a lot of platform succeeding. Right now the people who are in DEFI are maybe below 200M. What happens when another 200 comes?

Mary | Satoshi Club: Can’t even imagine 😃 It will be crowded here)

The Dealer: Yeah.. So there will be a lot more platforms needed. What is more in the future we believe there will be cross platform protocols.

Mary | Satoshi Club: Right, as in 2016-2017 we had just some exchanges…

The Dealer: Yes… And when the big Boom happened around October-December 100 new exchanges opened. Coinbase and Binance wasn’t accepting more customers..

Mary | Satoshi Club: Yes🤦 i remember this. Everything was overloaded. I think after BTC pump we can have new altseason and possible we will see those 200m more. And it will be your time to take the stage:wink:

The Dealer: I believe even more than 200M. The DEFI party is just starting :)Yes that’s why we are constantly building our platform and we are fully open for community suggestions. I fixed like 3-5 Bugs on our UI on their suggestions. They wanted TimeLock – one day after that the contract was ready and deployed. So we will be ready when that time comes

Mary | Satoshi Club: You will) sure, our AMA will bring new community members to your group and you will have new suggestions 😉

The Dealer: That’s what we want. You know a good platform is built with time. We are always open for suggestions

Q1 from Telegram user @michaelaelf

Dopeswap will make swapping all tokens on the ethereum network as easy as buying some dope on the alleys of Amsterdam. When I read this I thought: have you made an audit and everything is alright? Because if vulnerabilities are found and people will loose money, then it will be like smoking a bad dope on the streets of Amsterdam 😀

The Dealer: Hahaha 😀 Well we haven’t audited the contract yet. Anyway our team of 3 Developers have tested it for months and haven’t found any issue. We will be doing an audit really soon. Already connected many companies and we are discussing their offers. What is more today we deployer a TimeLock Contract. Every Transaction for the DopeDealer contract will take 48 hours. More than enough time to withdraw all the funds.But Audits are first on the Checklist

Mary | Satoshi Club: Can you explain in details?)

The Dealer: Many people from the community was scared because we didn’t have timelock. As you may know we have 25 hours vesting for the NON-DOPE pairs. So there was a little panic that our Key’s might be compromised and the funds Drained why no one can withdraw their money. Anyway we deployed a Smart Contract that is the Owner of the DopeDealer contract. The TimeLock contract have 48 hours pending transcation before it get executed. So if something wrong happen (like compromising our keys) people will have 48 hours to withdraw their money. Anyway in the future we will do a MultiSig wallet. When it comes to audit it’s really needed ofcourse. There always can be a backdoor in the contract and we want to make sure that all the funds are safe

Mary | Satoshi Club: Thank you:+1: i see, that you really care about your users)

The Dealer: We are community driven project. If the community don’t like what we are doing we can even transfer the keys to a better developer. That would be possible after the governance of course

Mary | Satoshi Club: Democracy and desentralisation:grinning:

The Dealer: Yep. That’s what Dopeswap is all about 🙂

Q2 from Telegram user @batrud

You have raised only 8 ETH in presale and 2 ETH in public sale. That’s roughly 4000$ now. It’s a low amount. How do you plan to be sustainable with this money?

The Dealer: Firstly we were planning to do a FairLaunch on uniswap. Anyway we decided to do a small symbolic presale to raise some awareness as well as bring some good developers,marketers and community managers in the team. We are really against all the greed in DEFI space. People raising 500 ETH for nothing. Our bussiness plan is explained in the Treasury section in our whitepaper. I will try to explain it with some words. After the Migration our TEAM LP Tokens(Initial Liquidity) will be locked in ETH/DOPE pairs. The rewards will go in the same manner. 80% to Staking pool. 10% to Marketing Fund, 10% to developer fund. So actually that’s our business plan

Mary | Satoshi Club: You know, it’s really seldom) Usually everyone wants to raise as much as possible

The Dealer: Yeah we don’t get that. Giving people so much money without having anything done.

We have some Team Tokens which if we succeed to do what we want , they will be worth a lot. And then we will get our reward

Mary | Satoshi Club: It’s logical and honest 😀 hope you will get the best reward later for your work

Q3 from Telegram user @madkaren

I have read that you plan to become one of the leading DEX in the market by applying new features when compared to Uniswap. What new features do you plan to apply and why do you think that I should leave Uniswap for Dopeswap?

The Dealer: Well in DEFI space it’s all about the liquidity. So if we can attract enough Liquidity at some time it will be more affordable to trade on Dope than Uni. The Deflationary Features are what will make our APY-s bigger than theirs. As you can see UNI is going down and down. So the APY-s are going down too. At some point it wont be affordable for LP-s to stay there. Our token will stay relatively stable (Inflation-Deflation). We have Floating Burn Rate which will be decided by our Governance, 0-5%. We are not saying that we will take any liquidity from Uniswap Anytime soon.

But no one though that Binance can anyhow replace Bittrex at the times

Mary | Satoshi Club: It’s circle, no one thought that Bittrex will replace Poloniex)

The Dealer: Yep there is a place for everyone. Even though we don’t become a Leading Exchange there still be a place for us in the future 🙂 What is more our platform wont be all about the DEX

That’s just the first step. We are up to Vaults Strategies, Delegated Vaults and many more products to come.

Mary | Satoshi Club: We will see more on 25th December)

The Dealer: Yes. Also we will release rest of the product on our recent roadmap until then

D. | Satoshi Club: how do you plan to bring more liquidity on your platform?

The Dealer: With better APY-s

D. | Satoshi Club: and of course i should ask – any plans on NFTs?:sweat_smile:

The Dealer: Haha we know that’s a huge tendency in crypto right now. Anyway we don’t have team big enough so that someone spends his time with NFT-s. You may now that to make one NFT-s you might need a lot of time. For now we have way more work to do to fulfil our roadmap. But in the future- you never know 🙂

Q4 from Telegram user @daviessss

Your initial supply is incredibly low compared to other projects. How did you come with this number? What’s the logic behind it?

The Dealer: Well our main Idea was to many a Scarce token, However the numbers doesn’t really matter. It’s all about our token metrics, mint rates and burn rates. We believe that our metrics are great. There is not a logic behind the number. We just liked 1000 🙂 It’s simple and rounded 🙂 Our main goal is to succeed to keep the Total supply around that number. At some point when the Minting and Burn rate goes nearby 0 the Total supply will stop at 1000

Mary | Satoshi Club: But, to be honest, you knew that this numbers will be like a magic) please, at least it’s great marketing step)

The Dealer: Yes in the recent months of crypto we saw a tendency that people loved project with really low circulating supply

D. | Satoshi Club: haha yes true

Mary | Satoshi Club: And low numbers do not affect the quality of the project, but, i see that you are to delivering both)

Q5 from Telegram user @max_serbov

There is a section on your website called “coffee shop”. Could you explain what will it’s role be?

D. | Satoshi Club: https://dopeswap.org/coffee-shop/

The Dealer: Well actually that is our Yield Farm. We decided it would be interesting to name it like that 🙂

Mary | Satoshi Club: Yes:joy::joy::joy: Nice menu)

The Dealer: Right now we have 6 on the menu. But soon we will add more 🙂 So stay tuned. We will have everything for everyone soon 🙂

Mary | Satoshi Club: I like mushrooms:joy::joy:

The Dealer: We have some of these 😀

D. | Satoshi Club:

The Dealer: We will be doing it soon. The past two days were really busy for us. So we didn’t have time for almost anything

Mary | Satoshi Club: Alcohol lovers are lost in the space of dopelovers))))

The Dealer: Yeah… We are not into alcohol too but you know.. There should be something for everyone 🙂

Mary | Satoshi Club: Do you plan to expand your menu?)

The Dealer: Yeah sure. We are planning to add few more in the new future. People in the community are asking for Meth and Crack. Even Walter Wild offered his offers in the chat :)He told us he have a good meth for sale :joy:

Mary | Satoshi Club: I am asking for Whiskey :joy_cat: I am so conservative :joy:

The Dealer: Ahh… We will put some Whiskey specially for you

Mary | Satoshi Club: Thank you) i will be proud:joy:

The Dealer: You are welcome. We will try to please all our customers 😂

Q6 from Telegram user @alexeimaruta

I see that a lot of vesting periods will happen for different funds or actions (like voting). Are this vesting periods included in a smart contract that is public?

The Dealer: We still haven’t released our Governance Contract. Yes they will be included. The reason to make a vesting on the voting is because many bad actors can manipulate the votes. For example buy some coins ,vote something which is bad for the project and than dump it. So in that way no one would like to risk his money just to ruin our project. The vesting period will be for the only for the people who Vote. It will be 15000 blocks which is approximately 50-54 hours

Mary | Satoshi Club: Can you give a simple example?

The Dealer: For example someone (who want’s to buy cheap DOPE) can propose and vote for the minting rate to be raised to 0.5 for 1 week. After the vote is passed he immediately dumps his holdings which will even more affect the price. After that week is done he will be able to buy DOPE for a pennies. So with that vesting if he votes for that his money will be locked in the staking pool for some time. Which means he will loose his money. What is more he needs to be a whale to succeed with that vote. There will be a quorum needed

D. | Satoshi Club: good mechanism

Part 2 — live questions from the Telegram community

Q1 from Telegram user @AugusS7

Could you really explain the Dope Swap motto “You should put your pink glasses on”? How is this related to an exchange that provides great initial liquidity?

The Dealer: That’s another marketing joke from our team. As you see there is a little “pink glasses ” on the unlock button. So you will not be able to see anything about the site until you put the glasses:) (Putting pink glasses on usually mean getting high)

Q2 from Telegram user @leixagarcia

– As I see in your Whitpaper Dopeswap will not have a fixed token burn rate, but variable. It is unusual to see this, what advantages does this burnout strategy offer over the price of the token? Will it be like this forever?

The Dealer: This gives us a control over the inflation of the token. In the beginning the Burn Rate will be decided by the team. We have a good financial adviser . Later on the Burn Rate could be voted on our governance page too

Q3 from Telegram user @Jonahapagu

Dopeswap aims to become the leading AMM Decentralised Exchange and in line with this You plan to Migrate to your native Exchange on 17th November.. but on your Github you have only two repositories which are the “dope dealer contract” and “dope token contract” repositories both built on Ethereum with I’m interested in knowing how far you have gone in preparation to release your DEX, why is there no Github file related to the project you are building.. so users can see for themselves what you are building.

The Dealer: Right now we are still testing our Migration Contract on our own testnet. We haven’t made it public on our github. When it comes to DEX the code will be forked out of Uniswap.

Q4 from Telegram user @lahkoklu

What goals is the Dope Swap project trying to achieve itself? what about the exchange fee using ETH which we know this fee is very expensive, what is the response to DopeSwap itself.

The Dealer: We believe that in really recent future the problem with fees will be solved. As you know the ETH2.0 is announced to com in december

Q5 from Telegram user @Jonahapagu

Dopeswap is adding a few features, which will make the token’s price more stable and significantly increase the APYs.. one of which is the “Floating Transaction Burning Feature” Can you explain what this is and how it works

The Dealer: Floating Burn Rate will try to keep the Total Supply of the token around 1000. In the beginning it will be impossible because of the big Mint/Block rate. Anyway by the time the Token Supply will stay around 1000.. 1000 Total supply will increase the price which actually will increase the APY-s. In some way you can think of it like taking floating tax of the traders and giving it to the actual users and LP -providers

Q6 from Telegram user @Mickey0555

What makes Dopeswap different from this community and what’s the value proposition for a crypto investor to be on Dopeswap over them?
What are the main utility and real-life usage of the $DOPE token
Could you give me 3 key points to convince angel investors invest in $DOPE in long-term?

The Dealer: Well as you know DEFI space is really innovative and risky place. So as an investors I will tell you don’t put more than you are willing to loose completely.
Anyway at some points the big Investors will understand that for providing liquidity you can create new assets. That really new and interesting concept.
We believe that in the future more institutions will come in DEFI space too as happened with Bitcoin
1- Holding Dope will give you a chance to Stake it and Earn some Yields.
2-Gives you a chance to participate in the Governance
3- You will need dope to use some of our coming products. (like if you want to make a Vault Strategy you will need to pay a certain amount of DOPE)

Q7 from Telegram user @kaito080

Currently, there are many potential cryptocurrencies like Balancer and Uniswap that will go head to head with DOPE, so what new breakthroughs are needed for DOPE to gain a foothold in the DeFi platform?

The Dealer: These are great platforms . Anyway as you know everything is about Liquidity in DEFI. They token models give’s a slowly decreasing APY-s. LP looks only for APY-s. Dope will give them a bigger APY

Q8 from Telegram user @AmirJosh

There is no mentioned about Slippage on your website and on the medium articles that I read. Is this function not present on Dopeswap DEX Platform or I just missed the portion explaining about it?

The Dealer: Yes in order to buy DOPE token you need to increase the slippage at least to 3%. Thats because of the burn rate .Thank you for the reccomendation. We will do it after the AMA

Q9 from Telegram user @Alika061

staking on #DopeSwap with what tokens are good and profitable pairs? and is there a way for beginners to follow staking and farming.

The Dealer: Right now our biggest APY-s are on the DOPE pairs . That measure is done so that we can succeed to keep the price stable ( as well as APY-s). The APY for staking is around 1600%. ETH-DOPE pool (around 3500%)

Q10 from Telegram user @DiegoRME

Are there any members of your community who are active and show interest in your project who can be part of your team?

The Dealer: Yes we are open for new members in our team. Actually during our Presale we welcomed . 1 Solidity Dev , 2 WEb integration devs and 1 bug tracker, as well many marketers. That was the main idea of the Presale. So you if have something to contribute to our project ,please feel free to contact me.

Q11 from Telegram user @Erol1763

my question is do you have users and partners who actually used your service yet ? What is the competitive advantage your platform has that you feel most confident about ?

The Dealer: Yes we have many users who are already farming . Actually the TVL(Total Value Locked) is a lot more than our Market Cap.

Q12 from Telegram user @Idee02

Can I be a market maker with DopeSwap in your DEX? Why did you choose AMM over Professional Market Maker, despite the limitations of AMM?

The Dealer: With a market maker at the back it wouldn’t be a DEX. It will have a centalized entity . What is more we saw what happened to orderbook DEX-s in the past…

Q13 from Telegram user @tsumannis

Through which non-custodial wallets can we currently access Dopeswap? At least Metamask did not work for me.

The Dealer: We are currently supporting Metamask,Trustwallet,Portis,Torus,Formatic and Burner Connect. There will be more walet’s to come if our community ask us. If you have problems with Metamask just PM me so we can fix it .

Q14 from Telegram user @Kevinliliana

What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?

The Dealer: Yes the community is most important for every project. We just launched and we are happy that we got really big attention at the beginning. Also we decided to reward our early members of the community with Early LP incentive

Q15 from Telegram user @BERTA2020

Where can I buy your $DOPE token to participate in your farming / Staking system?

The Dealer: Right now $DOPE is listed on Uniswap.org. After that you can easily use our Website to join the Staking/Farming. Here is a link : https://app.uniswap.org/#/swap?outputCurrency=0xBfEC1b4C9398600fe2cbc918d500E494aef3e6F5

Part 3 – Quiz Results

In the final part we tested your knowledge in terms of Dopeswap. They’ve prepared 4 questions for this part. The total reward pool for quiz was 1000$.

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