Hotbit AMA🎉: WOWswap AMA in English Telegram

Cyrus: Let’s welcome WOW Degen — CEO of WOWswap @wowdegen to introduce 【 WOWswap 】 to us in AMA. Thank you for being with us today. Let’s begin!

Could you please introduce yourself to the community firstly?

WOW Degen: Sure, I would like to introduce our team and explain why we are building WOWswap. We are hardcore DeFi users since 2019. DeFi experienced extremely wow paced growth since then and unfortunately with the growth came the limitations of Ethereum blockchain: gas fees, slow transactions etc. We love to trade the hottest and newest defi projects, but when a uniswap transaction costs $50+ USD an average person cannot fully enjoy the potential of Defi. This is why we came up with WOWswap.

Cyrus: Nowadays DeFi is changing our relationship with money, investing, credit, and debt. How WOWswap is different from other project when it comes to its unique features?

WOW Degen: Besides the leverage trading, our major innovation is totally new business model in DeFi that potentially can deliver unseen APY. The APY comes from traders who borrow BNB in order to buy up to 5x more of their favorite token. In DeFi everyone used to APY — annual percentage yield. While APY that you see on your savings account makes sense, the APY that varies from 130% to 5000% and then to 10% — does not make sense in my opinion.

Cyrus: How is WOW token integrated in WOWswap ecosystem? What brings a real utility to it?

WOW Degen: WOW token is used for governance to set liquidations margins, hourly interest rate, etc. So via WOW tokens community can decide on profitability and security of the protocol. In our case this is very crucial.

Cyrus: Do the token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?

WOW Degen: Yes, sure. Let me elaborate on that

Cyrus: Could you share when is the WOWswap going to be fully launched and your milestones?

WOW Degen: The app is not yet launched, however this week we will release a sneak preview of the app. The timeline to launch is in 25 days.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
HOTBIT

HOTBIT

3.4K Followers

Hotbit.io is one of the professional digital asset exchange platforms that provide trading services among major digital currencies like Bitcoin and Ethereum.