Alium Finance x Satoshi Club AMA Recap from 9th of May
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from AliumFinance and our guest was @Winniebluesm8 — Chief Business Development Manager for Alium Finance. The AMA took place on 9th May.
The total reward pool was 500$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Website
Gold Rocket | Satoshi Club:
Hello, dear community! We are pleased to announce AMA with AliumSwap
Andrés M. | Satoshi Club:
Hello everyone, welcome to another AMA session
Gold Rocket | Satoshi Club:
Today our guest is @Winniebluesm8!
Denis D:
Hey everyone!
Mary | Satoshi Club:
@Winniebluesm8 you can write now
Denis D:
Thanks for having me here
Gold Rocket | Satoshi Club:
Hello and welcome to Satoshi Club, @Winniebluesm8!
Andrés M. | Satoshi Club:
It’s an honor for us, we are happy to have you here, how are you?
Gold Rocket | Satoshi Club:
We are honored to have you here today! Thank you for joining
Denis D:
Doing Great, thanks
What about you guys?
Gold Rocket | Satoshi Club:
We’re excited about the upcoming AMA
Andrés M. | Satoshi Club:
Excited for this AMA and to know more about you, could you give us a short introduction about you?
Gold Rocket | Satoshi Club:
Andres, you steal my text
Joke
Denis D:
Sure.
I’m Denis Denisov
Born in Russia, Educated in Scotland
Been in crypto since 2018
Tried out a few different positions in different projects
Now I’m Chief Business Development Manager for Alium Finance
Andrés M. | Satoshi Club:
Haha
Gold Rocket | Satoshi Club:
How did you get to be involved in crypto & AliumSwap?
Excellent background for business development
Denis D:
I started in crypto in 2018 importing Cryptocurrency Mining Equipment from Bitmain
As for Alium Finance I’ve joined the company at the very early stage, from the very start
Gold Rocket | Satoshi Club:
What is the essence of AliumSwap?
Sounds good
Denis D:
Alium Finance is a MultiChain DeFi ecosystem with an ambitious roadmap of CrossChain DeFi and NFT products.
And Alium Swap is our first product.
Alium Swap is a MultiChain Decentralized Exchange with a Cross Chain option already operating on Binance Smart Chain and Huobi ECOChain with Ethereum , Near, Matic, Avalanche, OKExChain, and more coming.
Gold Rocket | Satoshi Club:
We can see that your project is completed in the crypto trend
How long does it take to develop a project? What plans do you have for the future? And what can we expect from AliumSwap?
Denis D:
Our Roadmap is very ambitious, so we will be gradually developing it over the next years,
We already Released Alium Swap on two blockchains Binance Smart Chain and Huobi ECO Chain
Next is 5+ more blockchains and Cross Chain Bridges between them
Also, Smart Farming, Smart Staking and a MultiChain NFT Marketplace
What we are looking forward to is to create a safe and convenient MultiChain Hub for users to experience all sorts of DeFi products on Multiple Blockchains without the need to jump platforms
Gold Rocket | Satoshi Club:
Yes, you really have very ambitious plans. And we at Satoshi Club love it
Also, we would like to know about your team. Who is on the project team?
Denis D:
Sure.
We have a handpicked selection of DeFi veterans working for both Development and Business Development side
For example — our founder Vladimir is also a founder of a few DeFi Projects including SpaceSwap
You can find more detailed info about each of the Team members on our Gitbook Page
https://aliumswap.gitbook.io/alium-finance/team
Gold Rocket | Satoshi Club:
Where is your office located? Or do you work remotely?
Andrés M. | Satoshi Club:
Wow, so Allium is part of a whole ecosystem
Denis D:
We work remotely, our team is spread around Europe
Gold Rocket | Satoshi Club:
Thank you very much for the great intro! Ready to jump into community questions?
Denis D:
Yeah, let’s do it
Q1 from Telegram User @Pratze
Lets speak about your IDO, tomorrow on 10th may i hear that there will be 4 place on big platform for your IDO. Can you describe which platform all your 4 IDO will be happen? And then what about your ‘AliumSwap’? It will be alive after your IDO and we possible to swap there?
Denis D:
Yeah, we are looking at 4 IDO platforms, but the date will be a bit later on, somewhere around 15th of May
We are in talks with Multiple Platforms
Our Partner Projects include Launchpool and MantraDAO
After the 4 IDOs we will have an Initial NFT Offering at our own Platform
After the Initial NFT Offering we will be listing our ALM tokens on DEXes and the trading will start then
Gold Rocket | Satoshi Club:
Nice to see familiar names. MantraDAO was at our AMA by the way
Andrés M. | Satoshi Club:
Could you share some NFTs designs?
Denis D:
We Collaborated with Illusorr and AfterForm who created the wonderful Designs for the Initial NFT offering
But we are still waiting for the Designs to be Announced by them
They are fully animated, but I’ll share a Screenshot )
Gold Rocket | Satoshi Club:
Denis D:
https://esatoshi.club/wp-content/uploads/photo_2021-05-11_17-28-05.jpg
This one is my personal Favorite
Gold Rocket | Satoshi Club:
That’s very beautiful
Andrés M. | Satoshi Club:
Wow I like it so much
Gold Rocket | Satoshi Club:
Thank you very much for the detailed answer! Ready for the next question?
Denis D:
Let’s go
Q2 from Telegram User @cryptofollower
On your roadmap Q3 I see there is Triple Cross Bridge. What is it exactly? I see right now you adopted Huobi ECO Chain and Binance Smart Chain. Is this mean after you adopt other blockchains you will allow people to swap tokens with triple cross? Why people would need it? Could you please explain what is Triple Cross Bridge?
Denis D:
Triple Cross Bridge just means that there would be three Blockchains you can swap between using Smart Contract CrossChain Bridges
Every time we will be integrating new Blockchain, new bridges will be added
Andrés M. | Satoshi Club:
Btw, could you share with us your roadmap? What else is coming for Alium?
Denis D:
https://aliumswap.gitbook.io/alium-finance/roadmap
Here it is
Gold Rocket | Satoshi Club:
Tell us a bit how it works?
Denis D:
We are looking at implementing 5+ more Blockchains, creating Smart Farming and Smart Staking instruments, and developing a MultiChain NFT Marketplace
It allows you to swap tokens on different Blockchains by creating a Cross Blockchain link of Smart Contracts on both Chains
So say you need to Swap a token on BSC to one on HECO
Instead of going to third party or Centralized Exchange — you just swap it as if they were on the same blockchain
Gold Rocket | Satoshi Club:
I think it’s very convenient!
One of our users asks:
“Will there be quadruple cross chain when there is 4 blockchain support added?”
Denis D:
Depending on the Chain and what will be the best course of action — some Chains are not compatible with each other, and the way-arounds will be used instead
But the Quadruple Cross Chain is the plan at the moment )
Andrés M. | Satoshi Club:
What can you tell us about open ocean?
Denis D:
We are Developing a MultiChain NFT Marketplace
Most of the features are still “Trade Secret”, we will reveal more info on it very soon
Gold Rocket | Satoshi Club:
Thank you very much for your answers! Ready for the next one?
Denis D:
Yep.
Q3 from Telegram User @Xusuo
Alium Finance have feature name with NFT farming. Can you explain more detail about how this NFT farming system work, do we possible to farm NFT and get NFT in there? Also how about feature about your multi chain NFT marketplace, its can sell all NFT from other project?
Andrés M. | Satoshi Club:
Any advance to answer the @Xusuo question please
Denis D:
NFT Farming is a system when you use an NFT to farm tokens of a Project
We are using this system for the Initial NFT Offering, our investors will be purchasing NFTs to use them to get their ALM tokens overtime
We will be also using this system for Price Maintenance and protection from Dumps by giving holders extra incentives to continue farming Tokens using the NFT
MultiChain NFT Marketplace will be a great tool to sell and but NFTs Crosschain, we will eventually let people import NFTs from other platforms
Gold Rocket | Satoshi Club:
I agree about the marketplace.
Andrés M. | Satoshi Club:
So the NFTs will have different use cases
Denis D:
Exactly
We are moving NFT capabilities beyond just Collectibles
Gold Rocket | Satoshi Club:
Thanks a lot for the answers. Can we proceed to the next question?
Andrés M. | Satoshi Club:
That’s great
Denis D:
Yeah
Q4 from Telegram user @pixma00
In February 2021 PancakeSwap, the largest exchange on Binance Smart Chain (BSC), outperformed Uniswap several times in terms of capitalization. This was the result of huge commissions on the Etherium network and the gradual migration of users to BSC-based exchanges. However, none of the BSC exchanges offered users a reasonable liquidity migration scheme. Does Alium offer some type of intelligent migration to eradicate this circumstance that is generated by the great fluidity of exchange? What will be the terms and uses of ALM?
Denis D:
We already Developed a Liquidity Migration Program and Audited the code with one of Top Smart Contract Audit Firms (We work with Hacken, CertiK and Chainsulting)
It is not Launched yet, because we are currently focused on other Developments, but it will be soon
As for ALM — it is the core of our Ecosystem
It is both Governance Token for our DAO and the utility token for all our DeFi and NFT products which will be bringing extra benefits to the Holders
Gold Rocket | Satoshi Club:
Safety first
Andrés M. | Satoshi Club:
So what are the use cases of ALM and what will be the main benefits for holders?
Denis D:
As a governance token — you will be able to use it for Proposals and Voting
As a utility — there would be Staking and extra benefits like increased % for Liquidity Providers, Farmers, etc
And it will be also used in the NFT Marketplace (but the details are a secret for now)
Andrés M. | Satoshi Club:
Thank you, we understand and will be waiting for more released news
Gold Rocket | Satoshi Club:
Thanks for the clear answer! I suggest moving on to the next question!
Denis D:
Cool.
Q5 from Telegram user @michelth
It is my understanding that Alium Swap has a novice help program that concerns guiding creators through the functionality of the platform, creating their first NFT. Can you tell us more about this valuable program? Can you tell us how you can trade with Alium Swap? What sequence of steps should you follow to provide liquidity?
Gold Rocket | Satoshi Club:
Do you have any trading guides?
Denis D:
We are collaborating with one of our Advisors on creating Easy Onboarding Programs for the newcomers for all of our Products
We understand the importance of Mass Adoption and that DeFi has a relatively high entrance barrier in terms of Knowledge
We want to challenge that and make our Products as user friendly as possible, a help the newcomers with useful tips and guides for them to get a feel of DeFi
As for Trading — it is very simple (let’s look at the BSC version first)
- You need to create a BSC wallet
- You need to link the wallet and get some BNB for commissions
- You go to “Trade — Exchange” choose the token you want to buy, and choose the token you will be buying it with, you enter the amounts and after couple of confirmations the trade is done
For providing liquidity
- You need to create a BSC wallet
- You need to link the wallet and get some BNB for commissions
- You go to “Trade — Liquidity” choose two tokens you would want to provide liquidity for and enter the amount, after a couple of confirmations your liquidity will be locked and you will start receiving the benefits
We have a couple ready
But we are working on even more guides
Looking into creating some Video Guides too
Gold Rocket | Satoshi Club:
Thank you so much! Your answer is flawless!
Do you ready to proceed?
Denis D:
Let’s do it
Andrés M. | Satoshi Club:
Clear answer, thank you Denis
Q6 from Telegram user @KASG95
Like me, many people prefer conventional exchanges over Dex, but could you really tell us what are the advantages and disadvantages of this type of Dex AMM exchange implemented in Alium? Will I really always prefer to trade on Dex regardless of the high gas rates?
Denis D:
DEX allows for easier mobility and higher control over your funds
When you use a Centralized Exchange — you’re entrusting your Crypto to that Exchange, they can block your withdrawals or do some other sketchy stuff. “not your keys not your coins”
With DEX — the Keys are yours
Our other advantage is MultiChain solution — once the commissions rise too high on one Chain — you can just switch to other chain and continue trading on the same platform instead of jumping to a different Platform
Andrés M. | Satoshi Club:
Great answer. Could you tell us about the tokenomics of ALM?
Denis D:
Sure.
Gold Rocket | Satoshi Club:
Really. the benefit is obvious!
Denis D:
What do you want to know about it? )
Andrés M. | Satoshi Club:
How is the token amount distribution?
Denis D:
There would be 250 000 000 ALM Tokens with only 31.5 million (13%) allocated for Public and Private Rounds
Other 87% will be distributed as follows
Team 13% 32,500,000
Advisors 6% 15,000,000
Smart Farming Pools & Vampiring 25% 62,500,000
Business Expenses & Airdrop 13% 32,500,000
Reserve 10% 25,000,000
DEX Liquidity 10% 25,000,000
NFT Liquidity 10% 25,000,000
Andrés M. | Satoshi Club:
Thanks for sharing
Denis D:
https://esatoshi.club/wp-content/uploads/photo_2021-05-11_17-31-10-1-1024x446.jpg
Gold Rocket | Satoshi Club:
Thank you so much! Now get ready for the most exciting part of our AMA — the live questions!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Frika_1
I saw that Alium Finance raised $ 2.2 million in less than 48 hours in a successful Personal Loop. But how will these funds be used for project development and growth? And how did they manage to raise so much money in such a short amount of time?
Denis D:
Well, we have strong and experienced Team and an Ambitious Roadmap
We had a great number of Top Investors contacting us trying to get a Private Sale slot and we ended up raising the target 2.2 Million $ in just under 48 hours
These funds are mainly dedicated to the Product Development, with more funds and resources for Marketing and Community building coming from the Strategic Partners
Q2 from Telegram user @Arisabela
You chose Chainsulting to audit your smart contracts that were recently migrated, can you tell us why you chose this German-based company? What are the strengths of ALium in terms of security?
Denis D:
We chose Chainsulting as one of the key partners because of their Reputation and Portfolio
They were a key Auditor for 1inch and shopping.io
Q3 from Telegram user @kimzyemma
Alium.finance has partnered with a lot even with a financial services company INFINITY CAPITAL, can you share with us what is the benefit that you got from this partnership?
Denis D:
Infinity Capital is our key partner in Vietnam
They help us with marketing and Community building in SEA
SEA is a very progressive region in terms of Crypto, and Vietnam is a very promising Crypto Market
Q4 from Telegram user @yellowchamp
Why does available slots is only 65 for AliumSwap? Do you have plan to add more slot so that more people will be allocated for $ALM token in your IDO? Thank you
Denis D:
These 65 slots are allocated for Gleam Campaign only
There far more slots for the IDO and Initial NFT offering
Just go to our community and join the Whitelist https://t.me/aliumswap_official
Q5 from Telegram user @ElitaJenita
Patform defense is also the main thing! how do you maintain your platform? Is your platform protected from hackers? And can you explain, how do you manage if there is an attack on your platform, including your platform user data? Is your platform ready for this???
Denis D:
We have an Inhouse team of IT Security Specialists who worked with some Major Centralized Exchanges in the past
And on top of Smart Contract Audits — we audit our Platform security too.
Q6 from Telegram user @Eminet001
How do you convince other angel users that ALIUM SWAP is different and better than other similar projects, can you give 2–3 features that make you better?
Denis D:
Our key advantages are: Team, Product and Partnerships
Our Team consists of DeFi veterans with reputation to uphold
Our Product is a cutting edge MultiChain solution with high potential
And our Partnerships are strong and numerous, here’s some of them:
Jun Capital, Exnetwork Capital, Consensus Labs, BlockUnify, Cryptomeria Capital, Infinity Capital, Alphabit, Aquablock Ventures, DCI, GFC, Mantra Dao, LaunchPool, Protocol Ventures, Master Ventures, A196 Capital, Iconomy, FBG, GBIC, LPVF and Westbridge Capital, Mooncarl.
Q7 from Telegram user @Pratze
From what I learn from today ama with Alium Finance, you have good project also with great NFT feature. Could you share to us how to get & purchase $ALM token? Any link?
Denis D:
You will be able to get some through an IDO on 4 Platforms and Initial NFT Offering
Just sign up for the Whitelist and you will get more detailed instructions on how to do it over an email
https://forms.gle/moM9K8zcYGqUPsMM7
You can also get some guaranteed allocation in our Gleam Campaign https://gleam.io/hlW8z/aliumswap-allocation-contest
Q8 from Telegram user @CallmegalonKm13
Alium Platform was created with the system supporting BSC & HUOBI ECO chain. Well, why didn’t you choose the ETHEREUM network, is it the only reason gas charges or are there other technical details?
Denis D:
Ethereum will be added later, it was mostly because of 2 reasons
- High Gas Fees
- Oversaturated market with ETH 2.0 being released relatively soon
Q9 from Telegram user @KhaleesiTheCryptoLady
What are your views about NFT hype? Do you have plan to mix NFT in AliumSwap ecosystem? When do you plan to launch your own NFT?
Denis D:
NFT is at a very early stage of the Evolution used mostly as a collectible at the moment
What we are doing is taking it to the next level
We are planning to build in financial instruments into NFTs so they can be used for Farming, Staking, and other DeFi products.
We will also be launching a MultiChain NFT Marketplace with loads of cool new features
Q10 from Telegram user @Jonahapagu
Alium Finance Happens to be one of the first projects to benefit from the Huobi ECO Chain (HECO) grant program..And Alium Finance has all it’s smarts contracts migrated to HECO network.. was this grant the sole reason why you decided to build on HECO, would you have still decided to build on HECO even without the grant, what are the benefits or advantages of building Alium Finance on HECO Chain, and how do you plan to bridge HECO Ecosystem with other Blockchains.
Denis D:
HECO is a very promising Chain with plans to Challenge the BSC dominance in the field
We are also participating in HECO Grant competition in order to Demonstrate the Quality of our solution to HECO and serve as a bridge to HECO from other Blockchains
By being one of the first HECO DEXes with a CrossChain bridge we can solidify our position as a Gateway to HECO in the world of DeFi and get a strong flow of users to our Ecosystem.
We are also working on getting a Partnership with Huobi, which will be very mutually beneficial, for the reasons I’ve explained above.
Part 3 — Quiz Results
In the final part, we tested your knowledge in terms of Alium Finance. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
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