A big thank you to @SaucerSwapLabs and the @hedera community for joining us in todays Moonshot AMA!
For those who missed it, no need to worry. You can read all about it down below.
Make sure to follow us on twitter @GreatMoonshot to never miss an AMA again.
What drew Saucer Swap Labs to HBAR initially? – LCX_Princess
As for this first one, we didn’t really consider building on other networks. We have been long time members of the Hedera community before the idea of a DEX presented itself.
With that being said, building on this network makes perfect sense for a variety of reasons. For one, we have a first mover advantage of providing a key component of DeFi architecture to a first-in-class network.
Beyond the market opportunity, there are many technical advantages, which I’ll briefly mention:
(i) HSCS (Hedera Smart Contract Service) interacts with HTS (Hedera Token Service) in such a way that tokens are not contracts (ERC20 standard), but are instead created by and controlled through HTS so that the network’s consistent and predictable fee structures can be taken full advantage of;
(ii) The network does not have a mempool, which renders frontrunning – a huge problem on blockchains – non-existent on Hedera;
(iii) HCS allows for DAO-based governance frameworks in which users can create ballots and cast votes in a decentralized, immutable, and transparent manner. This actually will increase the ways our DAO can articulate itself.
Ultimately, these native advantages of the Hedera network result in a more seamless user experience on SaucerSwap. Without worrying about being front-run, exorbitant gas fees, and exploitative backdoor arbitrage, every individual may access the protocol using the same technology with complete transparency and no unfair advantages.
Will Saucer Swap Labs be leveraging the JSON RPC relay to integrate Metamask and other widely used non-Hedera native wallets into SaucerSwap #DEX? – BarHBARian
Great question and the short answer is yes — integrating the JSON RPC relay is on our roadmap. This will allow us to support EVM wallets like Metamask, and also read contract calls free of charge. We anticipate MetaMask and Trust wallet integrations to bring in a lot of cross-chain users. The JSON RPC Relay is a really exciting prospect for the network in general and we intend to take full advantage of it.
How does Saucer Swap labs stop front running? – Zepzi
Yeah so, for anyone who doesn’t know, front running is a common occurrence on Ethereum where miners choose which block of information to process depending on the value of the fees. On Hedera, this does not occur as there is fairness of ordering and no concept of blocks or miners. Front-running transactions is impossible, and the concept of miner-extractable value (MEV) is also irrelevant. This is a big value proposition of our DEX, and it all comes to down to the advantages of the native layer we’re building on.
Will we see Saucer Swap Labs at any crypto conventions and events? – loveofcryptoNFT
For sure! We will attend crypto conventions and events to network and speak about our DEX. For the short-term, we don’t have any scheduled, as we have our heads down developing and marketing via socials.
Has the team considered launching a mobile app? – theNFTbank
We have considered it, and want to provide a better UX for mobile users, as over 60% of our web traffic comes from mobile. Right now, interacting with our DEX via mobile is possible, though not optimal — a progressive web app would likely be the low-hanging fruit for better mobile UX, as HashPack explored. A dedicated mobile app would likely follow, but we haven’t yet unpacked that as a item on our near-term roadmap.
What coins will be available for individual staking on Saucer Swap and what will be the minimum staking period? – pau47072404
Yeah, so for single-sided staking, the only coin that will be able to be staked is SAUCE, which is our native token. Staking SAUCE will then return a derivative token, SAUCEr, which can be staked in Community Pools to earn HTS project tokens.
You can read more about how this works in our (extensive) documentation: https://docs.saucerswap.finance/features/single-sided-staking
SAUCE staking is going to be a robust feature that pulls in multiple streams of interest – this will be game-changing. One such mechanism will be integrating Hedera’s native staking rewards into our single-sided SAUCE pool – this sort of integration is not possible on other networks. Again, Hedera will be showing its strength on our DEX through some of these unique value propositions and feature sets.
How big does Saucer Swap Labs want to get and what different thing do they think they can do that’d draw people other blockchains onto this one? Basically increasing volume. – nftcliq
We of course intend to grow as much as possible, while remaining true to our product / market fit. Simply put, Hedera is a beast. The network is incredibly powerful, and we are really just scratching the surface of what we can achieve.
Already, our DEX is fast, efficient, cheap, and does not have any front-running, which is a huge problem on other blockchains. Combine that with some of the features we will be rolling out Q4 and the beginning of next year, and I think you will get an idea of how much we intend to grow.
What are the top 3 priorities in 2022 of Saucer Swap Labs? Can you share some upcoming plans? – bowoaan87
Sure thing, so some of the top priorities right now are…
Solidifying our role as the primary DEX on Hedera – we have already made a huge splash with $18.5M TVL. We intend to grow our liquidity as a number one priority.
Additionally, becoming an endpoint for bridged liquidity from a myriad of other networks is paramount – we are currently underway with implementations to achieve this goal. Lastly, growing our partnerships and collaborations both within Hedera and cross-chain will further embed SaucerSwap into web3 at large, and set us up for creating more value well into the future. Feature implementations extend from those three general priorities.
For now, is there a feature that Saucer Swap Labs relies on for them to survive in the crypto era which is experiencing bearish this year so that users in their dex especially users and loyalists of the Hedera Ecosystem so that they (users) continue to use this DEX as the main DEX? – Sarsboy_
A real brain twister this one.
Good question – so, we received a grant from the HBAR Foundation which is helping to fund our very attractive Yield Farming rewards.
Look no further than the APRs on our farm page to get an idea of the rewards being currently offered.
These APRs are in part made possible by the HBAR Foundation.
This is one way we are able to flourish in the bear market. Achieving $18.5M TVL in one month during a bear market is massive. According to DeFiLlama, we surpassed top DEXs on other networks, like Algorand, Harmony, and Cardano (surpassed SundaeSwap today).
Of course, we are fans of other networks, and welcome liquidity to be farmed — but I did want to mention the growth rate we’ve had so far, which has been incredible.
It shows the potential for the SaucerSwap protocol as well as the Hedera ecosystem at large.
Hello, I love using Saucer Swap labs, but I want to ask if you have any plans of incorporating charts into your dex, just like poocoin on BSC so as to make it easier for users to view price changes and actions? – kvng_smartosky
Yes, we will be incorporating charts into our DEX.
This is one of the first things we will be rolling out after this AMA, will likely be deployed this week. Charts will first be supported on the analytics page for our protocol, then will be built into the web-app to allow for a more seamless trading experience.
How to become a Saucer Swap ambassador? Do I need to meet any requirement to be accepted and what will be my role as an ambassador for the platform? – Anthonystarkzz
Yeah, so we currently do not have an ambassador program.
But, we do award community members for participating on Twitter and Discord periodically with our “Dog Star Awards” which are paid in amounts of 10,000 SAUCE. We’ve paid out a couple dozen of these since we implemented it a few month ago.
If you want to be in the running to win one, be a helpful and active community member, and you might catch the eye of someone from our team.
These are announced in our Discord server, which can be found here: https://discord.gg/saucerswap
I’d like to ask when charts will be available on SaucerSwap to view HTS tokens’ price history? – Albman55
As indicated in a previous answer, charts will be available soon on our analytics page, then will be implemented into the web-app.
What is next for Saucer Swap Labs? – cryptopyrite
Yeah, we’re working on several features concurrently. One of which is single-sided staking for the SAUCE token.
We are also integrating a bridge into the frontend of our web-app. Additionally, there have been a lot of HTS tokens popping up in the ecosystem, so we are currently working with partners to support those HTS projects on our DEX as the ecosystem grows.
Will there be any trading reward based on activity? in the future? – nimwlist
This is something we have talked about and it is definitely an interesting idea. It’s not something that we will integrate in the short-term, but we may well circle back to it in a few months when other features have been rolled out.
It’s a good example of a TradFi feature being integrated into a DeFi application – this in general offers a lot of opportunities.
For more information about about SaucerSwapLabs Check out our coverage of them here.
The winners of the giveaway were announced here.