We recently hosted an AMA with TeaSwap, on August 1st at 2 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by the TeaSwap team. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce TeaSwap to our community in layman’s term?
Ans — TeaSwap is a DeFi project, for the moment on BSC only, but soon on Polygon and Arbitrum. We have 3 goals:
1- Funding associations community takes care about
2- Educating people to DeFi
3- Promote Sports/e-sports and link them to blockchain.
Q2. What are the advantages of TeaSwap to other alternatives in the Blockchain field?
Ans — Regarding all Yield Farming Projects, a few have real use cases, goals and vision. For 100 projects, 90 die within a week. TeaSwap is here since end of April. Building a lot but not only pure DeFi features, as use cases grow and get real links to the outside world.
Today, MINT allows funding of associations but can also farm SUGAR and TEASPORT + gives access to optimized vaults coming and maybe most important, allows a weight of vote (DAO) to all activites regarding TeaSwap.
The SUGAR IFO’s coming + the partnership we are about to close regarding using SUGAR to have personnalized trainings in DeFi gives an intense value of it regardless of farming opportunites.
TEASPORT has never-seen features in DeFi with interactive farming in EURO2020 than DeFi automated strategies regarding Olympics. This is one of the first instant sport results-related token, bringing possibilities to higher levels regarding the latests crypto streaming possibilties for sports.
Q3. What are the major milestones TeaSwap achieved so far & what are in the future pipeline?
Ans — We accomplished a lot so far with a focus on DEFI features / Phase01. We published an update of our roadmap (Todo-List) in Twitter last week.
I would say a Milestone was to be able to deliver a full service of yield farming and to constitue a first strong and faithful basis of investors. Second milestone was to be able to introduce a Sporting Feature in our ecosystem.
This allowed us to be identified by Chainlink Labs because of the Data Feeds we use for SportParties. We are still in discussion with all the Labs staff of Chainlink in order to perform. Next Milestone for DEFI is the Vault Feature, next week. And TeaParties in September.
Questions Asked on Twitter For TeaSwap Team!
Q1. Just going through your site, I got to know that TeaSwap’s ecosystem revolves/focuses on 3 pillars. Can you brief us about them? Also, a lil bit about the 3 different Tokens that you have mentioned that bring equilibrium to your goals?
Ans — TeaSwap ecosystem indeed revoles on 3 pillars, each one linked to a token.
- Funding associations (through MINT)
- Educating people to DeFi (through SUGAR)
- Promote Sports and Esports (through TEASPORT)
Each token interacts with the others making the whole system moving towards its goals. MINT has a 2.5% transaction fee in its tokenomic with part of it going to coming associations partners. SUGAR will soon be used to buy professional DeFi individual trainings.
TEASPORT is used in our SPORTPARTIES to make people discover, follow and play sports while real life results have a direct impact on TEASPORT, thanks to Chainlink Data Feeds ongoing integration (VRF already integrated, see here Chainlink Tweet about us: https://twitter.com/chainlink/status/1417107003915317249?s=20) which be link automatically and instantly sports results to activities in our Dapp, increasing a lot the use of our SportParties.
Q2. In the past few months, we’ve seen boom in projects that utilise blockchain across DeFi ,NFTs and Gaming. Kindly discuss more about the opportunity that TeaSwap is capitalizing on by merging the gaming industries with blockchain technology?
Ans — The use of Chainlink Data Feeds is also a great progress to link the blockchain to external events. We have now linked DeFi automation strategies (Vaults) with Sports lives results through our SportParty, which is a big step and improvement in the gaming process.
We aim to go further for the next SportParty and give an even more unique feature to our investors.
Q3. In your website I couldn't find about your team. Does teaswap has a professional team qualified in their own fields? Are you planning to hire more team members?
Ans — CrashBanditCoin: Ok let me introduce my self : I’m CEO and main dev of TeaSwap. Professional dev consultant for an international Cryptocurrency Firm. For me full stack solidity & react (5y exp in front dev & 3y in back/solidity).
Greg: As for me Marketing Manager And business dev - EngIneer (FR state diploma / 1998)
Business dev in Fintech and marketing manager experimented (more than 20 years of experience)
Familiar with African NGOs funding and donor processes and Passionate by Crypto funding. I am an active Member of BSC since 3 years.
Amau Dlr: Channel Manager : Master in finance with 7 years experience in digital marketing and communication (linked to finance).
In DeFi for a year, early investor in both BSC and SOLANA blockchains.
Known moderator for french communities in BSC and SOLANA before joining TeaSwap - Professionally involved in helping humanitarian and animal causes projects.
And TeaSwap maximalist.
Q4. Teawswap uniquely has the objectives of Funding Associations, Educating People on DeFi, Promote Sports & E-Sports, and I wonder what the recent results and final objectives have been achieved to achieve them.
Ans — Teaswaps results (in the 3 months of existence of the project) are:
1- Funding Associations: 2 NGO founds willing to participate. Binance Charity is also being discussed.
2- DeFi Education: Lots of tutorials and trainings on top of daily information posted. Partnership to use SUGAR to have personalized trainings is 90% closed
3- Promote Sports/E-sports: AIming to have our own webTv with comments regarding impacts on TeaSport, we are at the beginning of the story.
Q5. What are the functions of MINT, SUGAR, TEASPORT and what are the MINT, SUGAR, TEASPORT roles in the project?
Ans — MINT, with 150K limited supply its 2.5% tx fees in tokenomics, aims to bring new fundings to associations community cares aout and voted for. Using MINT allow you to get access to Optimized vaults, and TeaParties.
SUGAR, farmable token and linked to DeFi education will be used for IFOs, and be exchange for personalized trainings in DeFi together with being the main partner farming token for other serious projects.
TEASPORT, fun and playable token relater to SPORT PARTIES with interactions with real life sport events directly thanks to Chainlink Data Feeds;
All these 3 aimes to create a pure ecosystem balanced and our vaults coming with buyback and burn on SUGAR/ TEASPORT will give us a huge performing boost.
Questions Asked by our BlockTalks Community Members during live Session to TeaSwap Team!!
Q1. Does your communication and marketing strategy is gonna be the same on the Polygon and Arbitrum blockchain? Are we gonna see new secret things on those 2 bc?
Ans — We gonna keep the same spirit within our communication. BUT there will be indeed some chanegs: MINT and TEASPORT will be crosschain, SUGAR will remain on BSC to be really the main farming token of it.
But on Polygon and Arbitrum there will be equivalent to SUGAR. They can be farmed with MINT
-> ASPARTHAM and STEVIA will be the equivalente (suprise)
https://teaswap.gitbook.io/teaswap/features/tech-innovations/cross All the infos will be soon shwown here, check regularly.
Q2. What are you doing to promote your project in countries where different languages are spoken? Do you have local community group?
Ans — Our documentation is already translated in different langages see it here: https://teaswap.gitbook.io/teaswap/ and we planned to open serveral TG for specific countries as you can see in our Roadmap.
Q3. Could you explain the specific features which tthe development team is working on to increase the robustness of vaults? What advantages do these features bring to the TeaSwap holders?
Ans — The main advantage to bring vaults for holders of Teaswap it’s because a part of perf fees will be use to buy back tokens of teswap ecosystem.
Q4. Burning tokens is the best way to keep the price of the token under control and reduce the quantity. So, what are your plans for burning tokens?
Ans — Indeed all vaults are gonne buyback AND burn SUGAR direcly on a daily basis. This will bring a buying pressure on SUGAR, aiming to give more yield to the whole ecosystem.
Q5. You point out that TeaSwap is the first project to combine DEFI and Gamified Farming, but could you really tell us more about the benefits of combining them? And how do they benefit to finance associations?
Ans — The world of sport and eSport is a major community of adopters who will be able to link our fund-giving program.
Q6. Security has always been the main task of the project. But lately, many cryptocurrencies and blockchains have been taken over by hackers. What security measures should you take to avoid being taken over by hackers?
Ans — Yes. We are working with Chainlink to avoid FLashLoans and got audited for our pools by techrate and after Vaults release plan other audits in order to show our ability to be 100% safe.