Crypto Society Ama Recap with Beamswap — 21 January 2022.

9 min readJan 23, 2022

Beamswap is the first Decentralized exchange (DEX) with an automated market maker (AMM), providing liquidity and peer-to-peer transactions, built on the Moonbeam network boasting a variety of features such as an integrated EVM bridge and a trading platform with Limit orders, portfolio tracker, charts and more!

Bilo | Crypto Society

@DexOperator It’s our pleasure to have you with us today. I would like to welcome you here on behalf of our entire community.

Could we begin with a brief history of yourself and your team and your roles at Beamswap and what you were doing before Beamswap?

Tim| Beamswap

Hey, thank you for having us.

I’ve been in crypto since 2016. I’ve known some of the team members for more than a decade and it’s fantastic that we are able to work together. My role is taking care of companies operations as a CEO. Before Beamswap I was trading and doing arbitrage & market making. I also helped out a couple of projects and VC’s along the way.

Bilo | Crypto Society

Excellent — thanks for the background.

Bilo | Crypto Society

Can you tell us about why you thought Beamswap needed to be built and what problem it solves? And How Beamswap started?

Tim| Beamswap

We have used a lot of DeFi products in our time in crypto and every network needs a reliable DEX. We have been huge fans of Polkadot since we first heard about it in 2017. Moonbeam going live was the perfect opportunity for us to build the products before the network went live and to then capture the first movers advantage after it launches.

We have chosen to doxx ourselves and to on board partners as we wanted to have a competitive advantage over any other potential competitor. Trust & security are really important for us.

Bilo | Crypto Society

How would you describe Beamswap if you were talking to someone unfamiliar with digital assets?

Tim| Beamswap

That’s an interesting question. The simplest would be as a decentralized exchange that offers a variety of other products to users to take advantage of the DeFi ecosystem and reward them in the process.

Bilo | Crypto Society

Great answer!!

Funny question: What chain is Beamswap built on and why did you make that choice?

Tim| Beamswap

Moonbeam. We have been huge Polkadot fans and Moonbeam being EVM Compatible meant that the users will be able to transition easily from other EVM chains that they are using.

Bilo | Crypto Society

So then Beamswap would be interoperable on Etherieum. Any other chains? And Why is it important in your view to have this interchain operability?

Tim| Beamswap

In theory with any EVM compatible chain: Avax, Fantom, Polygon, BSC … We plan on focusing on Moonbeam as native DEX as that’s the key to succeed. Cross chain DEXs aren’t the top DEX on any of the networks that they support.

Polkadot parachains will be interoperable with each other in the future so we will be able to list tokens from those.

Bilo | Crypto Society

What is the Beamswap token ($GLINT) used for? Is there another token associated with your eco system?

Tim| Beamswap

$GLINT is used for governance and powered up by the Beamshare product it earns a portion of DEX’s fees and can be used for IDO participation.

Bilo | Crypto Society

I see. Thanks — Tell us a little about Beamshare.

Tim| Beamswap

Beamshare is the single-sided auto compounding pool for Glint. Its best described in our documentation and with the introduction video .https://docs.beamswap.io/products/beamshare as it might be a bit complicated for some users to understand at first.

When they deposit their GLINT into the Pool they receive $SHARE as proof of deposit. They can move $SHARE to participate in syrup pools and IDOs while still earning APY on their initial glint deposited.

Bilo | Crypto Society

Will there be any NFT’s 👀

Tim| Beamswap

You never know, there might be 😎

Bilo | Crypto Society

With so many launchpads out there, kindly describe how you see Beamswap’s unique added value that differentiates you from others. Also, what differentiates your DEX from others? What are the advantages of trading on Beamswap? Can you describe some of the more important features?

Tim| Beamswap

Its Beamswap ecosystem as a whole that the projects can take advantage of. Users will get guaranteed allocations and earn APY on the tokens they need to hold in order to participate. We are different from others as we are openly doxed and we are more DeFi Hub than just a simple swap. The biggest advantage currently is our liquidity so the users can execute trades without much slippage or price impact. They can also take advantage of our high APY in return for providing liquidity, our integrated bridge to seamlessly transfer assets from supported networks, Beamshare, etc.

Bilo | Crypto Society

Yes that’s very true. And huge congratulations on your launch. Honestly one of the most successful and smooth launches I’ve seen!

Please Tell us a little bit more about your portfolio tracker feature.

Will portfolios be updated automatically by connecting wallets?

Tim| Beamswap

Thank you. Yes when the user connects his wallet he will be able to monitor his positions in yield farms and his profit made along with a couple of other things that we haven’t revealed yet.

Bilo | Crypto Society

That’s awesome. Is there or will there be a feature to recognize and update wallets from other chains as well?

Tim| Beamswap

Not in our plans at the moment as we would need to add support for that network for our whole DEX.

Bilo | Crypto Society

I see thanks — would be really cool if that happens

Tell us about your liquidity and farming protocols, and the projects that will be initially supported for trading, LP, farming, etc… and if and when you’re planning on adding more and which ones you have in mind.

Tim| Beamswap

We started incentivizing more common pairs to enable liquidity for users when they are trading. We will slowly adjust the rewards based on the volume of the pairs, because a portion of the fees is being used to buyback and burn GLINT and we want a balanced system for our token.

We have a pool of tokens we are currently exploring to add. Yesterday we added GLMR-bUSD & USDT-USDC pairs

You can see those pairs here:

Beamswap App

Beamswap - The Ultimate DeFi Hub on Moonbeam.

app.beamswap.io

Bilo | Crypto Society

Brilliant!

Bilo | Crypto Society

You recently completed your private sale funding and launched. How did that go and can you share a list of your investors and partners?

Tim| Beamswap

Our rounds went great, we onboarded some fantastic partners and sold out. It was a bit hectic as our timeline to launch got shortened by 2–3 weeks due to Moonbeams launch being escalated compared to Moonrivers. We haven’t revealed our partners yet, some of them have done the announcement on their part, but we are still keeping our community on their toes.

Bilo | Crypto Society

What are you currently working on and can you describe your future roadmap?

Tim| Beamswap

As you can see on our roadmap we are currently ahead as we have completed all of our Q1 Targets and it’s only the 21st of January.

Roadmap

The roadmap shows our commitment and plans for future features at Beamswap Exchange. Roadmap can be a subject to change…

docs.beamswap.io

Next features we will be adding are Zap and Swap for gas. Launchpad is ready as well, but will be public once we sign on a project to launch.

Bilo | Crypto Society

Can’t wait to see what’s sure to be great accomplishments

If there was one thing you could hope to see Beamswap achieve next year, what would it be?

Tim| Beamswap

Securing our spot as the number 1 dex on Moonbeam. Our main goals are keeping the team happy and to continue growing and innovating. We want to build up a strong community as later on they will be the ones deciding the direction we go in and what products we build.

Bilo | Crypto Society

Do you wish to let us know anything else that was not covered in the questions above?

Tim| Beamswap

I think we covered the most of it, but if something comes up later on I recommend people follow our socials and join our community as well.

Bilo | Crypto Society

With this, we will open up the chat for those who wish to personally thank you for your time with us here today.

Kindly pick 5 of the best questions coming from the community for the prizes

Xxx_Jikey

Security and anonymity are always prioritized by Blockchain projects in the development of project platforms and technologies. So, do you have any technological solutions or plans to enhance user trust in these issues?

Tim| Beamswap

On the trust side — our team is publicly doxxed and KYCd with multiple 3rd parties. On security side we have a completed audit for our smart contracts and we also have an expert in cybersecurity as our advisor.

Jellyfish 🌟

Hello sir

Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?

Tim| Beamswap

We have a bunch of tutorials on our YouTube and we will be adding more as we go:

BEAMSWAP

Beamswap - is a decentralized exchange (DEX) with an automated market maker (AMM), providing liquidity and peer-to peer…

www.youtube.com

Max Win

What in particular can lead to a rise or fall of the APY? Is it just the big picture of the bull or bear market or are there other influencing factors?

Tim| Beamswap

APY depends on multiple factors. Token price, rewards for the pool and amount of TVL deposited in the pool. If token price and rewards stay the same and the amount of TVL deposited increases, the APY will go down.

константин

Do you have any plans to attract non-crypto investors to your project? It is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around your in non-crypto space?

Tim| Beamswap

Yes, a lot of our focus is on attracting new users. Ethereum is unusable for them due to its high fees so Moonbeam is an excellent choice. Our DEX will be available in multiple languages so users will be able to use all of our products in their native language and feel right at home. Us being a defi hub and having a wide array of products also makes it easier for them to find everything in one place if they choose to use us instead of competitors.

Mai Muhammad

How can I buy this token? Is it available on any exchange?

Tim| Beamswap

$GLINT is only listed on our own exchange — Beamswap but we will be listing on a centralized exchange in the near future.