Recap Session of Curryswap AMA Event Held at Crypto Mansion
Date: Jan 28, 2021
Time: 2 PM UTC
1. Briefly before we proceed, can you introduce yourself to the community
I’m CurryChef, I’ve been working in crypto full time since 2016. I’ve lead multiple large scale raises during the 2017 ICO season as well as worked alongside leading crypto businesses thereafter.
My primary experience is within business development and marketing.
2. Can you introduce your project? what are it unique quality and competitive advantages over other DEX
So we 100% have plans on launching our Dex, however the first product we will be launching is our auction lobby!
the Curry Food Vault functions the same way as High Yield Certificate of Deposit Staking Portals. Built on Ethereum, this allows users to swap their CurryChef Yield Farm tokens (CurryV1 tokens) for Food Vault tokens (CurryV2 tokens) and earn ETH dividends for staking said tokens in the Food Vault.
Users are incentivized to stake long term with various bonuses and rewards that are time-specific.
The Food Vault also conducts daily auctions, where a predetermined pool of CurryV2 tokens is available to be purchased (at a more competitive rate than say an exchange). Users bid in ETH, and depending on how much of the total day’s bid that is, get rewarded the same percentage in tokens of the daily pool.
I.e. if a user bids 10% of the ETH bid that day, they are rewarded with 10% of the token pool that day. Daily auctions end at 00:00 UTC.
Users that stake CurryV2 are rewarded with the ETH that is received in the daily Auction Lobby. 85% of the previous auction’s ETH is distributed evenly between the active stakers in the Curry Food Vault.
3. Is curryswap internally or externally audited?
Could you share with us the token distribution plan of curryswap?
We were audited by Hacken.
In terms of the token distribution, there was no presale or premine. The team only receive a % of block rewards.
You can find details here: curryswap.com
4. Trust is a rare commodity in the Crypto space. What is guarantee that Curryswap will not scam it investors?
And how does Curryswap intent to gain investors trust?
I think in our case it’s quite simple, fully audited code and proof of locked liquidity should assure investors.
To make things even better, we did not receive tokens prior to launch, we only receive tokens in the form of block rewards
5. What is $Curry? And How do Curryswap intend to leverage $Curry?
CURRY is the token within our ecosystem. The main utility of CURRY currently is incorporation of governance, access to our auction lobby + staking model.
We have a lot more utility being released soon with the launch of our Dex.
6.What is the total supply and circulating supply
The total supply is currently 12.95 million. We originally had it set to 10 million, however we had some minor issues yield farming event which made us increase the supply.
Details can be found here: https://t.me/curryswap/94
7. Do you have mechanisms such as buyback and burning to regulate the demand and supply of $CURRY, so as to increase its intrinsic monetary value??
Right now, no. However the auction lobby does definitely provide something similar. The more you stake (not sell.) the more eth you earn!
8. In looking at the current position of blockchain technology, what would be the reason for mass adoption of Curryswap in the future?
Right now, the product that aims to bring in the most “attention.” Is our auction lobby, there are not many around and very few that offer the incentives that we do.
Furthermore, our Dex will be truly revolutionary. The products and features we plan on including are truly unique and exciting!
session-2 ( Twitter Session)
1. Twitter Question from @malaakind
How do you plan to list other coins , do they need to submit any documents verification or any ERC20 compatibility can be traded on CurrySwap automatically?
Right now, it will be a Dex, so anyone can add and trade a token. It’s decentralised!
2. Twitter Question from @Jupiter_ji
The revolutionary CurrySwap ecosystem is made up of 4 main dapps: the CurryChef Yield Farm; the Static Staking Pool; the Food Vault; and NFT Airdrops.. Can you briefly describe the innovations each of these are better than other comparable products in the market ?
Sure! So our yield farm and static staking pool is currently over, so I won’t touch on that too much, and we covered the auction lobby in detail above.
In terms of our NFT rewards, what makes us really different is that we are building our own NFT marketplace where users can buy and sell NFTs + be rewarded in NFTs for staking CURRY for a period of time. It will be similar to Pancakeswap in this regard, but it will be more engaging and inventive based.
3. Twitter Question from@kerala_crypto
If we save on gas because it is a layer 2 solution. But we have to pay more fees to use the platform, then is it really profitable to use CurrySwap?
Who said we would be paying high fees? We’re on ETH now, but that doesn’t mean forever ;)
4. Twitter Question from @shihazop
What is the CURRYSWAP infrastructure that gives developers the tools needed to build DApps?
I don’t really understand this. We’re not building a new blockchain, we’re building on top of a number of them. This isn’t really a question for us
5. Twitter Question from@Athif18867738
How is CURRY development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
It’s going great! We’re building on other chains + introducing our auction lobby & Dex.
We have a very large team of developers currently working on the project. We’re active. Moreso than anywhere else
Session-3 ( Live Telegram)
1. What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
1.) Launch of auction lobby
2.) Launch of our cross chain Dex
3.) Become a top 10 Dex.
2. Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is #CurrySwap smart contract, and did you ever audit it via any external party?
We’ve had two audits completed by industry leading security firms. We have a public audit completed by Hacken.
3. What is the structure of Curryswap , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
We are decentralised and have plans to go 100% decentralised when we launch our DAO. This means anyone can join the team and add real value.
4.Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
Currently no buy back and burns. However our auction lobby does incentivize users not to sell their tokens as you will earn daily ETH REWARDS.
5. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates??
Glad you asked!
Please be sure to join our channels below:
Like us on CoinGecko: https://www.coingecko.com/en/coins/curryswap
Crypto Mansion: https://t.me/cryptomansion