This AMA session aims to detail and clarifies all the exciting features and novelties we are preparing for the upcoming months.
Host: Hey everyone, it’s time! Welcome to our AMA event with the LuaSwap team. Join us today, we will have anh Nang Nguyen, LuaSwap Project manager, and Tryphena, our lovely Marketing Manager.
Welcome and thank you for taking the time to join us! Alright, we’ll first have some questions to Nang and Tryphena directly, before we open it up for community questions. Let’s get started!
Could you please introduce yourself to the LuaSwap community?
Tryphena: As Kevin said, I am Tryphena, Marketing Manager of LuaSwap. I started in crypto in 2019 as an investor & trading learner. Crypto quickly became from a hobby to a passion and later a full-time job as a Blockchain/Crypto Marketing Specialist.
I joined team LuaSwap in 2020, learned a lot and improved, and now I’m in charge of Marketing Strategy for LuaSwap. Two years have passed, but for me, this is still the beginning.
Nang: Hi all, as private investor, I participated in crypto in 2018, then officially join TomoChain team later on as a Product Manager. With the great help of Tryphena, Kevin, and the teams, we have gone through 6 years in the industry till now. During this time, we also helped several products as the roles of advisors, too. Great to hearing more from the community.
Host: Awesome, just out of curiosity!
If the bear market lasts for a long time, how would the team manage and build up the confidence for long term investors?
Tryphena: I could say that, markets, no matter in TradFi or DeFi, all have an up & down cycle. Of course, like other token prices, we’ve suffered a lot as we’re part of the market. However, building a comprehensive DeFi Hub for users which has more and more utilities to offer is our ultimate goal. So, this is the time when WE and other projects need to focus on BUILDING, developing projects and adding new, quality features.
I have to admit that it is really difficult to keep on developing when you see the numbers going down. But, I would say that, these market conditions will show really strong projects as only a few will go through this bear market - a tough time actually. We take current market conditions really seriously and will continue developing regardless of how tough they can be.
We have learned so much from the vibrant community which surrounds LuaSwap. We always make best efforts to stay focused on building a LuaSwap protocol that solves the most pressing problems faced by DeFi space and ultimately offers value to its users.
Until now, we have trading, staking, IDO launchpad LuaStarter (Let’s enjoy on luaswap.org) and more features to offer on the way. There is continuous work behind the scenes on complying with all sorts of regulations, especially IDO launches. And I can promise, when the timing comes, you will see big explosions.
Host: That’s awesome to hear!
What is the latest progress of LuaSwap and how much have we successfully completed?
Nang: There are so many we’ve done with LuaSwap pool analytics, launching LuaSwap on TomoChain mainnet & continue expanding to other networks, providing a much higher value to customers. Also, we are trying to expand marketing activities through new channels, including influencers, new partnerships, media features, and a bunch of community-driven campaigns, like LUATurns2 that’s happening. Team expansion is under development, across marketing, technical, and business development to scale up LuaSwap in all areas
Things to await! We will focus on Building and Developing IDO/INO features, with plenty more events and media features. LuaSwap ambassador program will be launched in the near future to incentivize users to stay more with us and make contributions to LuaSwap’s growth. New product features, especially NFT related ones and integrations will go along with that, and we’re always actively working on finding new ways to collaborate with other projects, keep exploring new businesses and expand the LuaSwap network. That’s a whole lot to look forward to. The team must be working non-stop to get so much done.
In the very soon future, we will be ready to realease new IDO features on other chains and ready for the good market situation. Hence, please keep following us.
Host: What do you think about launching NFT-related features like INO, NFT game, Metaverse or adding these elements to LuaSwap Ecosystem?
Nang: NFTs and Metaverse are pretty interesting concepts, the world is moving towards art and digitization of art, along with giving value back in the hands of artists, indeed LuaSwap would go all in. Here’s how.
- Launch INO feature (ready for EVM compatible network)
- Collaborate with TomoMasterDAO to incubate Gaming/ Metaverse projects launching on TomoChain network then support them with IDO launching on LuaStarter
We know everyone has been waiting for the debut of INO, but we decided to hold back its release. We’ve already strategized how we would push out this feature, the team spent months preparing the system & the marketing plan for it, with the whole lore and things set up to drive.
As to why we pushed it back, you know, the NFT market isn’t great right now. A lot of the partners and platforms that we intended to work with, their NFT prices are much lower than expected. On top of that, there are a couple of other additional features that we are trying to work out and prioritize and most people are not willing to divest their NFTs assets at this point.
Also, my expectation is that there will be a change in the tokennomic model in the soon future, so, we will find the best project to launch on LuaSwap rather than lots of average quality projects.
Host: In terms of future development, what do the LuaSwap team plan to focus on next?
Tryphena: Let me handle the Marketing side and Nang will share more regarding product development. Lots of things to share with you guys today!
About LuaStarter side, along with searching for potential IDO deals and supporting them with setting up the IDO system, we will be implementing various Cross-marketing activities with IDO projects to incentivize both project’s communities and LuaSwap community, and attract more new users to LuaSwap ecosystem.
The marketing activities for NFT features will also start to commence soon, following the release plan of INO feature, as Nang shared before. And we will be looking to expand our reach and audience significantly before we launch our INO feature, following the meticulous plan we have spent for a long time.
Regarding community activities, we are planning to have the LuaSwap Ambassador Program, which we will announce publicly soon and this should help create an influx of new users to the platform. Focusing on building a solid community, we wish to bring ideas, products, or services with the best value and benefits to users. The LUAturns2 anniversary happening right now will be followed by other mini events to boost engagement and encourage members to stay with us longer.
Nang: Thanks Tryphena, let me add on regarding to product side:
- Attract new liquidity providers through listing new IDO tokens on LuaSwap and make LuaSwap a useful place for trading activities.
- Attract traders: The amount of liquidity residing on the LuaSwap is an essential requirement for its attractiveness to traders. However, to make it even more appealing, the LuaSwap team has been working hard on improving the DEX’s interface and user experience to offer markets that are unique in DeFi.
- New features: As we mentioned above, new features such as INO, multichain integration, NFT related features will be developed step by step following a meticulously planned schedule.
- Interoperability: Integrating LuaSwap into different blockchain networks and protocols has been an objective for the team from the start. Avalanche or Solana (others such as Aptos and Sui, too) have been under consideration since identified as a solution to high transaction fees and congestion problems. Though launching on several chains has the disadvantage of fragmenting liquidity, so it must be a strategic decision.
- Keep searching for new IDO launches: Our vision is much greater than what is known right now, but we are looking to change this with an expanding long-term roadmap. You can expect LuaSwap/LuaStarter to grow more into the DeFi space, as well as expand in more ways for innovative projects to raise what they need to build the future of finance, DeFi, gaming & more. The IDO mechanism could be adjusted to tap into demands from projects, especially in the way that fairly distribute to the loyalty member while avoiding negative impact on other token holders.
- Collab with TomoMasterDAO to incubate new projects: We will support new projects with the integration into TomoChain network from new listing to marketing coordination.
- Also, when we expand to the new ecosystem, there will be a suitable and interesting mechanism to be introduced to the community while keeping the same rights of the existing token holders.
Tryphena: Great to hear that! I would like to add some more information about the Marketing plan.
Having said that, the best marketing efforts are not just on the campaigns we push out but also to engage with other partners. As such, a lot of effort has been put into understanding and collaborating with other projects to improve yields and reach where LuaSwap has not gone currently. In fact, we have discussed and come up with a specific plan for expanding the community and attracting users by collaborating with TomoMasterDAO, connecting more with partners, organizing cross-marketing events/minigames, and KOLs cooperation.
We also continue generating insightful information to educate and onboard users to DeFi and Web 3. From our experience thus far, we’ve found that marketing LuaSwap will need to do more with basic education given the nascent stage of the industry. Our DeFiBreakdown series & LuaSwap O’Clock are warmly welcomed by the LuaSwap community and that is our driving force to create more valuable information.
LuaSwap new features could also come from your own feedback and comments. We value and appreciate all feedback from the LUA community and our product team regularly checks with our marketing team to gain insights into our user’s needs.
haha sorry Kevin but there is so much stuff I would love LuaSwap community to know more.
Let’s move to the next question.
Host: No worry! A lot of new DeFi protocols are springing up these days to solve the inherent problems associated with DeFi & Dexs. How do you intend to stay competitive?
Tryphena: Well, I can handle this question
We appreciate some of the awesome DeFi projects & innovations that make the most of DeFi and offer users their best services. We think we don’t need to set ourselves apart as we, together, build and develop products towards a decentralized future. With the developed market and a massive number of users coming to DeFi, we commit ourselves to building a multichain protocol that can serve as a DeFi Hub for users to experience.
For our more immediate, short-term goals, we will continue to focus on our short term goals, as we mentioned above, to provide users with a comprehensive DeFi platform with convenience, and reliability.
Host: That’s amazing, and we look forward to see all the integration and initiation go live soon! Let’s move on to some Twitter questions! What’s your main focus right now, are you focused on the community or market/Exchange or the products?
Nang: The main focus is the community, for sure.
I think that all these factors are the 3 most important elements of any DeFi project. So I would say these three items can be carried out at the same time: Building and developing the product/new features, getting customers and users and exploring & building partnerships
We are always on the side of the user and the current market. So we are focused on product performance, quality improvements and prioritizing the features that are most in-demand from users’ perspectives, as we mentioned above (Multichain deployment, IDO/INO, NFT related features, etc,…). We are aiming to continue user growth and feature development and delivery – both will increase trust in LuaSwap sustainability. This could create upsides for LUA token and then benefit retail investors.
Besides, we have been building and expanding our partnerships with many IDO projects, blockchain organizations, and communities.
IDO will be definitely long lasting features as long as the market still grows, so will will focus on finding to good deals without any limit of expanding to the new ecosystem and also taking advantage from LuaVentures and other partnerships, too.
There is also no limit to improve the existing features to adapt to the market situation and the growth of the whole web3 industry.
Host: What do you think about the explosion of the NFT + DeFi association that is causing a lot of interest in the world? How does LuaSwap capitalize on and exploit this fact?
Given that the competitive landscape for Defi is huge, we think there are opportunites to explore here
Tryphena: yeapp! NFTs bring up a very interesting crossover between crypto space and real word application. It’s something we’re definitely looking at supporting.
We believe that there is a lot of room for growth in the NFT and De-Fi combination. In addition to the current features: DEX, liquidity mining, staking, and IDO feature, we have a plan to launch INO features to tap demand from NFT retail investors, as Nang shared above. We want to build a friendly interface in which users will be aware that they have bought an NFT. The system is ready, and it will be launched very soon.
Personally, I think that this is clear proof for NFT and DeFi associations that could bring real benefits to users.
Host: User experience is a very important issue in most projects. Does your project focus on this? What have you done to bring the best user experience, especially to new users?
Tryphena: You get it! UI and UX are absolute key factors, and we emphasize them almost obsessively in our development process. We are always keeping the user experience and the varying knowledge of crypto in mind throughout our entire development process to make UX/UI more fulfilling.
The best way, I think, to go about having a top-notch UX and UI is to get input from the people who actually use it. We launched some community surveys previously, which we think could revamp (and, in our opinion, improve) the UI and UX.
We also spend a lot of our time in the community Twitter, Telegram Chat…, communicating with our users and getting serious feedback, discussing their experience of the platform, and how they think we can build to improve it. All of this is aimed at improving our product/platform experience.
So if you’ve been using our LuaSwap platform, or have some first impressions and insights to share, we are pleased to jump into discussions with you, so kindly reach out if you want to chat!
Host: Agree with you that UX is key in adaoption and usage, especially at this stage! And to be further connected with the community, the Ambassadors program has been planned out for quite some time!
Can you tell more about the ambassador program at LuaSwap! Ambassadors play a very important role in every project. Do you have an ambassador program? If yes, how can I be one?
Tryphena: Well, we have received a lot of interest in the Ambassador program from our valuable users (along with numerous other interesting ideas). We are exploring this interesting idea and the Ambassador program is currently in the structuring phase actually. If you guys has ideas on how to amplify the value of this campaign, I am always available to listen.
Don’t hesitate to reach out to me if you have any fascinating ideas.
About the structure of the program, we might have multiple levels of Ambassadors to make it as fair and as transparent as possible. Ambassadors will get selected based on their active and helpful performance. So the efforts and activities you perform within our community will help you climb up to higher levels in our community, so to speak. Each level will unlock different incentives. As a plus, they also get rewards for their engagement they make on our Twitter https://twitter.com/LuaSwap
The best advice I can give you guys now, is to spend time with the community, create and share content that will benefit the community as we will be keeping an eye on all contributions you make.
Host: Last question for this section, buckle up everyone! What kind of partnerships can we expect from LuaSwap with different platforms or projects in the future? How can other platforms and projects benefit from LuaSwap?
Nang: Cool question! We absolutely love creating long-term, meaningful partnerships with pretty any type of legitimate project. Generally, our partnerships will focus predominantly on what the community wants and brings forward, for example, IDO projects and any projects that wish to be listed on LuaSwap DEX. We want to be able to give our community meaningful partnerships that they can use to explore DeFi, build their portfolio and build wealth!
We’re always itching to partner with innovators in this space, and those innovative partners can make use of the LuaSwap community, increasing LuaSwap exposure, as well as bringing their liquidity to LuaSwap platform!
With other projects, one of the best ways to leverage LuaSwap is using our launchpad and farming options to boost their development and growth. And we’ve got a wonderful community too.
Other than that, we also keep closed eyes on the new potential ecosytem to set up partnership and help them based on our experiences so far.
Host: Amazing! and thank you for your thoughtful answer! Now I am going to make the group chat open for quite a bit. Make sure to have your questions handy, so you don’t miss out on the opportunity to ask those questions. Nang and Tryphena will now have some time to look through, and pick out the best one from the community
Q1: What are the benefits of holding your token as long term investment? Can you tell us about the motivation and benefits for investors to keep the your token in the long run?
Tryphena: 1st Question for me
I could have stated various reasons so I can convince you that buying LUA tokens definitely benefit you in many ways. We have swapping, Adding liquid, staking to earn LUA, yield farming, and especially IDO launchpad LuaStarter, of course LUA token is an indispensable part.
LuaSwap has already achieved a lot of goals that we wrapped up above, and all those achievements could prove how strong the project is. However, I should mention that before deciding to buy, sell or hold any Digital Asset, you should conduct your own due diligence before making any investment decision.
Q2: Currently a lot of people are looking at NFTs, metaverse, and games. Can you tell me what advantages will you have in this field future?
Nang: NFT, metaverse and other digital assets that can acquire users have bright future and we have very focus on that, too. We already have product that are ready to launch NFT offering and the rest of work is that we will find the good project to launch. Also, please be aware that metaverse field requires huge resource and time to develop, not a single point of time, so you will also see the long development ahead, too.
Q3: IF THE BEAR MARKET COMES will your token PROBABLY DUMP? Do you have any plan to prepared for this bear market? How will you handle the panic sell ?
Nang: Very common question but most of the people would like to know. So, if it is the bear market, it will affect the whole market, not a single project/ token, and please do not expect it will recover in the very soon future. In this period of time, we will focus on building the product/ interesting features and get ready to release when the right time comes.
Q4: How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
2/ Feel free to get visit our website at luaswap.org, enjoy our products and our newest features
3/ Our official bot can also support you with some basic information. Just type ‘/’ and select your command
Q5: For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit?
Nang: I consider it as a aspect of product development which most people want to know but lack of attention. Most of the project failed due to poor financial management and over spending, but it is not the situation for us at the moment. In the market for 6 years (LuaSwap 2 years), we can say that we are handling it carefully, not only for us, but also for the community. You may know the revenue of any exchange is from the liquidity and transaction (directly) and from partnership, potential resource (indirect). It is also the point that you may pay attention when considering any token as an investment product (token product). By extending to other chain with general offering like IDO, INO, DEX, we are offering the must need in any ecosystem, which we are building and expanding, now.
*Thank you to anh Nang and Tryphena for your great answers. And once again, thank you for joining us today *
Our community already knows about LuaSwap already, but feel free to reshare the social media handles here!
It was a pleasure to have you both on, and thanks to our community for participating too!
Happy birthday LuaSwap!
Nang: Thanks everyone, thanks @KevinNguyen081 for hosting and @TryphenaNguyen29 for the great care. We would love to hearing from all of you if there is any questions.
Tryphena: Thanks for having me and Nang today and giving us the opportunity to spread the word about LuaSwap. It was a pleasure being here with you and LuaSwap community!
I’m always here, to listen you all!
one more thing, our LUA Season 2 Anniversary celebrating LUAturns2 is ongoing. If you would love to get part of 200,000 LUA and join the biggest party of LuaSwap, don’t hesitate to visit https://luaturns2.luaswap.org/