At 2:00 PM UTC on February 19, 2021, VBC hosted the AMA show with Swop.Fi, whose representative for this AMA is Mr.Sten Laureyssens, the strategic advisor of Waves association.
Host: Hello. Nice to e-meet you again at Vietnam Blockchain Community. How are you today?
Sten: I can’t complain, BTC above 50k, the sun is shining, waves above 10$, Swop.Fi is growing quickly, my mom sends me a nice cat-gif this morning, so life is good.
Host: First of all, I know many of our community have heard about you from AMA Waves last year. For those who don’t know yet, can you have a brief introduction about yourself as well as Swop.Fi to all of our audience in this community?
Sten: Of course! My name is Sten Laureyssens, I’m the strategic advisor to the Waves association, which is the foundation behind the entire ecosystem.The waves association takes care of things like funding research, grants, and technological future development. Waves ecosystem is quite large, I remember trying to explain the many aspects of the different projects last time, but this time I think most people in the community wanted to focus on Swop.Fi. To summarize, Swop.Fi is an AMM that combines 2 types of pricing formulas. 1 like Uniswap, for assets that have fluctuating prices, and 1 like curve.fi, for stable assets, like USDN or USDT, etc. I’m sure I’ll get more questions about it later, but that’s the short story. What’s maybe important to note, before we start the community questions is that, Swop.Fi recently launched its own token, SWOP. This was what we call a ‘fair launch’, so it is only possible to get the token by adding liquidity to the Swop.Fi pools and no tokens were held back for the team, etc. But SWOP has been doing pretty well, so it’s worth finding out what’s happening with it.
Question: Auditing plays an important intermediate role in the development of DeFi applications. What audit methods has SWOP applied in project development? Can you talk more about it?
Sten: The usual question! is my money safu? DeFi is still like a Wild West. Swop’s contract is currently being audited, we have an external audit going on right now. However, swop being built on our own smart contract language RIDE, gives us quite some experience. However, for development, we use auto-tests for our smart contracts. Which helps us to scan for issues ahead of schedule. There is not that much more to say about it, unfortunately, but I think we are in a good position, with a team that has a lot of experience with the smart contract language, so big issues shouldn’t arise and funds are safu.