BSC.chat Interview Transcript with Blueswap Finance — Binance Smart Chain
Below you will find the transcript of the interview between Aorlan and DeFi CP of BSC.chat with the manager from Blueswap. This interview was conducted on the BSC.chat Telegram room April 11, 2021.
Aorlan
Hello and welcome, @blueswap are you ready?
BLUESWAP manager
Yes, I’m ready!
Aorlan
Ok, let’s go.
Thanks you for joining us today. Why don’t you start it off with an introductory message about who you are, your background and experience and the role you play in BlueSwap Project.
BLUESWAP manager
Let’s go!
Hello everyone! We are a team of developers, entrepreneurs, and designers working to make crypto a world a more artistic place.
I am the lead developer at Blueswap.
I have several years of experience as a backend engineer mainly using nodejs/typescript & solidity. I am also an external auditor for other some crypto auditing groups that I cannot name for now. I am in charge of all contracts and fixing some of the UI issues.
Aorlan
Amazing, you are one of the masterminds behind the project, that’s great.
BLUESWAP manager
Thanks :)
Aorlan
Talking about the team.
How many people are on your team and what roles do they play?
BLUESWAP manager
Well, can’t exactly tell you the figures but we have separated roles. I develop the contracts + couple of frontend devs , a fantastic designer, and 5–6 master-painters managing the communities.
Also we have external auditors to proofread my codes.
Aorlan
Wooww great!
You are all good friends, do you know each other outside the BSC? Sometimes good communication is important for a project, how do you decide things?
BLUESWAP manager
Yeah our team knows each other off-line of course except our Masterpainters.
Our core team design the new layers and listen to our Masterpainters’ opinion to make few changes, ways to announce things.
Aorlan
It is good that everyone gets along, communication and respect is too important in this.
Ok, now we will go into more details of the project.
Why did you start the project? What was your motivation?
BLUESWAP manager
Okay
I was a yield farmer. I witnessed many projects just being copies of previous ones with just a few logos changed being used to scam people of their money. Either a creator would abandon their projects after selling their tokens, which I was a victim of a couple of times; or rug-pull the entirety of the funds including LP tokens.
I want to change that by creating a farm people from all walks of life can enjoy from its stability and high yields.
To achieve this to some degree, we have tweaked the tokeneconomic of our $BLUE token, and designed the layered farming with several features to give our tokens a genuine value.
Aorlan
Yes, that is something that happens very often in BSC, only CopyPaste, rugs and many things, it is good that they bring something new and fresh.
Tell us a little about how BlueSwap works?
What is a layer farm?
BLUESWAP manager
Layered farming makes natives token valuable by enabling them to farm new tokens with less inflation.
Also, contract already deployed cannot be changed.
So to add new functions or fix something, we should deploy newly developed farms.
Layers are not one-directional flow. Organically connecting them to contribute each other would be the point.
Aorlan
How often is another layer created? That is, today farm green, tomorrow we swap green for red? What makes the green burn?
BLUESWAP manager
Well, layers are not made that easy. Each layer comes with some updates and new feature. Also it has a life cycle. When new layer comes out, former layer decrease it’s emission and eventually stops.
For example:
BLUE will completely stop it’s emission when next layer comes out since 2 layers came out after BLUE already.
Green and purple will also decrease their emission.
Users can earn high APR at the new farm if they hold the former layer’s tokens. There are many tools to burn them including the burning pool.
Aorlan
I understand, well that means that we will see more colors, it will make the project last a long time.
Tell us about your tokenomics, are there any burns?
BLUESWAP manager
We’re continuously implementing special deflating mechanisms to our tokens. First one is the $BRUSH .
Farmers can buy $BRUSH only with their $BLUE to gain higher APR at layered farms
Our next feature ‘Paint Bucket’, which is a variation of lottery system, is also designed to burn tokens regularly.
BLUESWAP manager
Sketchbox is also designed to burn our tokens while giving users a chance to earn valuable prizes :)
Next feature will a Lock-vault.
Well, this is to lockup native tokens to decrease supply while giving true value to the holders.
Tune in !
In the lock vault, there are also additional features to burn our tokens :)
Aorlan,
Is this working already? or is it an alpha leak. lol
great, that of burn to have a better APR.
BLUESWAP manager
Sneak peek :)
Aorlan
Tell us a little about the brush and What deposit fees does BlueSwap have and what are the funds used for?
On our layered farm, there are several categories.
Burning pool ,brushed farm, normal farms.
BLUESWAP manager
On brushed farm, you need to pay 1 brush to enter. Instead, you could enjoy higher allocation point and compete only with those who paid brush .
Aorlan
Could be called a VIP area.
BLUESWAP manager
Yes.
Deposit fees are used in our activities including marketing and dev payouts, audits. Well, so far most of the deposit fees comes in forms of our native tokens. So we are just burning them or use in partnerships like cross farming.
We need about 10000~20K$ worth of our native tokens when partnering with bigger projects.
So many parts are kept as a reserve for the marketing.
Aorlan
It’s great, I imagine you guys will have your other jobs, so the project should give you some extra income.
Yes, that is very common in BSC, for an association they ask for a minimum of 10k.
BLUESWAP manager
Yeah sure.
Aorlan
How the developers div their day, in the project and with the family, is a funny question.
BLUESWAP manager
Well, thankfully we are working in a very flexible environment in our real life job. so we can put aside many part in developing our project. Not having much time with my family for now :) haha
Aorlan
Oh, I hope you have a break soon, that sounds exhausting.
BLUESWAP manager
We might once we get into the orbit soon :)
Aorlan
Your project, it is ideal for NFTs by name. Do you have integration plans?
BLUESWAP manager
Of course, since our concept is all about art we are preparing for the NFT. Purple will be the core token in our NFT market. NFT feature will come after next layer.
Next layer has a feature that NFT will be used.
Aorlan
Woow, I imagine that NFT will have a maybe Stake function?
BLUESWAP manager
Haha details will be announced later :)
Aorlan
You told me you were an auditor, How many audits does the BlueSwap have?
BLUESWAP manager
We have externally audited by bsc-checker and War On Rug for now.
BSC-Chat Member
What is the aim of Green Token ?
BLUESWAP manager
Oh, it was an open question time
Aorlan
Lol no, but you can answer him.
BLUESWAP manager
https://palettefinance.medium.com/dev-thoughts-on-blueswap-tokenomics-1a7e4080a653
Well, we have a whole article about that. Green is used on every betting situation on our platform. We have many gambling features like palette lottery, sketchbox, and 3rd part dapps that uses green to gamble.
Also, there will be a feature that uses green in the vault too :) tune in!
Aorlan
That would be one of the questions: is there a strategy with tokens?
BLUESWAP manager
Yes, we give unique roles to our tokens.
Blue is our core token so it is used on almost every situation. green is as described above.
Purple is for the NFT as i might said earlier.
Aorlan
Nice, that each token its function, I like that.
Aorlan
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
BLUESWAP manager
Yes, these are our main links:
Web: app.blueswap.finance
Docs: docs.blueswap.finance
TG: https://t.me/blueswapfinance
Twitter : https://twitter.com/FinancePalette
BLUESWAP manager
Join TG and follow twitter to Tune in for our latest updates!
Aorlan
Cool. What is biggest focus for BlueSwap at the moment and what is the number #1 priority for the team in the next 6 months?
BLUESWAP manager
For now, we are working on to implement the delegate farming to give a sustainable income to the holders through vault. Once the system get into its orbit, we will focus on NFT and making our own AMM.
Aorlan
Well, you are focused on the now, that’s good, do you have a defined roadmap?
BLUESWAP manager
Yeah this is our roadmap. you can see it on the docs page.
DeFi CP
How are the max caps in the purple burning pools determined? When are they announced?
BLUESWAP manager
Max caps are quite difficult to decide. If cap is too high, the APR goes low and if cap is too low, meaning of burning gets diminished and APR might go crazy. So we are controlling it closely watching the market.
Also, too many high earning burning pool makes other pool’s apr low. So we’ll have to delist or diminish the allocation point of the existing burning pool to add new one.
DeFi CP
Understood, that’s interesting
Aorlan
Well I think we have reached the end, we are going to free you from the kidnapping here. Lol
Thank you for joining us! Any final thoughts to share?
BLUESWAP manager
Thanks for the great interview!
Well, tune in to our channel to get the great announcement soon guys!
https://t.me/blueswapfinance
DeFi CP
Thank you @blueswap ! We’ll be tuning in for sure :)
Aorlan
Yeah, it was 1 hour of good information, your project is great, I wish you a lot of success guys,@billcashidy wanted to be here, but his city is in protest and he had to flee to his bunker to lock himself up.
BLUESWAP manager
Wuh..what a situation. Thanks!
