LBank AMA Recap with BABYSWAP
On 11 July we held an AMA with the BABYSWAP team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
It's Baby A here, Global Operation Director of BabySwap. Happy to be here
To give you a brief intro, we launched on June 1st last year, as the best AMM+NFT DEX for newborn projects on BNB Chain, because we saw strong potentials within the newborn and long-tail projects. However, that's not all of the story. We always wanna provide a full structure, where AMM is the fundamental, NFT is the connector, and GameFi is the ultimate goal, Web 3.0 is the bonus point. Check out the calendar and you may see that we had our first year anniversary last month!! That's why we are here with you guys to share about our growth in the first year as well as the future plans — Baby 2.0 era has arrived!
Other than the brief introduction above, I want to say that BabySwap is to assemble all BEP 20 and 721 assets on the BNB chain, helping both kinds of projects growing on the BNB Chain, providing DeFi services, marketing support, and initial offerings to these projects.
We feel that our model is very much like a baby wonderland and that’s how the theme Babycame. One baby can have enormous potential and strengths, and this is what we initially visioned and hoped to offer. Baby helps baby, right? We grow together.
To start things off, users must pay a lot of attention on how to make money on BabySwap, could you elaborate ways to earn on BabySwap? And what are the advantages BabySwap has?
As we have stepped into Baby 2.0. So we basically accomplished all the fundamentals.
Let me introduce BabySwap Smart Routerto you — you can now trade over 90% of BEP 20 tokens on BabySwap! We will choose the best route for you. Along with the Smart Router, we updated our farms and only reserved the BABY, BNB and other public-chain farms, such as SOL, AVAX, FTM, and ATOM. Our liquidity for these tokens are top 2 on BNB Chain, so it helps the projects and our BabySwap in protocol earnings and trading experiences. We also reserved 1inch farm, since we have partnership together and we seem to be their only liquidity place on BNB Chain. Top liquidity for the main tokens, plus the Smart Router, you will definitely be getting the best trading experience here. And no need to say we also have the trade mining I mentioned above.
We also have several kinds of staking service, for $BABY and for other projects. For projects who need DeFi service but lack experience or time to build one, BabySwaps staking service will fulfill your needs.
Farms and Pools will be the full-service DeFi station, and will be furtherly upgraded.
Stake LP Earn BABY (Already online): We no longer accept new ALT into the Farm, to ensure that BABY can best service BABY and mainstream tokens and maximize the outcome.
Stake LP Earn ALT (Upgrade in progress): We will furtherly accept PancakeSwap LPs to the farm, meaning that you can use your LPs on PancakeSwap to stake on BabySwap, and projects don't need to separate their liquidity to 2 platforms since we have the Alt farm upgraded and we have Smart Router for trading.
Stake BABY Earn ALT (Already online)
Stake ALT Earn BABY (Already online): We will lower the BABY output gradually. For those tokens who need staking service, it will be directed to the ALT-ALT pool.
Stake ALT Earn ALT (Already online)
Stake LP from other platforms (Eg. PancakeSwap) to earn Alt (Already online)
We will also be having NFT staking in the future.
Trading and Staking to earn, those are nice ways! Or you could just buy $BABY on BabySwap. I've heard so many words that other than $BABY, you also have vBABY? Can you explain the difference and how are they used on your platform?
$BABY is our core token for sure, and its fair launched on June 1st, 2021. You can earn $BABY by trading on BabySwap. You will earn the trade mining rewards in $BABY! You could also build your LP and stake in our Farms, there are some pretty juicy APRs in the farm. It has many other use cases as well. For example, Perpetual trading fees, Staking to earn, NFT Market currency, IFO and INO participation, collaborative projects use cases, and upcoming features such as Lucky Baby (Lottery) and etc.
For vBABY, vBABY is the VIP membership of BabySwap, which earns more benefits for users. vBABY is minted by BABY in the ratio of 100:1.
You can get as many vBABY as you want. And here's the benefit you can get.
Share vBABY: Each block produces 6 BABY, which will be distributed to vBABY holders in vBABY as rewards.
Trading fee: 0.025% of the user's trading volume will be distributed to vBABY holders in vBABY as rewards. Y’all should know we have high trading volumes, got like $12 Billion for last 3 months
NFT market trading fee: 2% of the NFT market trading volume will be distributed to vBABY holders in vBABY as rewards
vBABY redeem fee: 50% of vBABY redeem fees will be distributed to vBABY holders in vBABY as rewards
Referral reward: Invite your friends to get 10% vBABY minted by users. If your invited friend uses 100 BABY to mint 1 vBABY, he/she will get 1 vBABY, and you will get 0.1 vBABY at the same time.
USDT Dividend: Sharing 0.05% of the total trading volume on BabySwap to vBABY holders as USDT Dividend
Baby Pool reward: We just added another one that 5% of your vBABY investment will go to the BABY Pool, while you can enjoy both BABY pool and vBABY income at the same time! Well start from 5% and increase the percentage in the future to earn more!
Lucky Baby: 50% of the BABY used for tickets purchased in Lucky Baby will be distributed to vBABY holders in vBABY as rewards
Hint: There's a 10% redeem fee for users who redeem vBABY to BABY again. 50% will be allocated to vBABY holders as mentioned above, 50% will be burned
vBABY is currently the most popular feature on BabySwap, you can earn BABY and USDT at the same time. It's like doing a part-time job, but effortless.
We will keep adding features for the AMM part, and actually, some of them are in progress already. Please stay tuned for more!
Q3: That seems to be a great place to earn and HODL!! Why don't you briefly talk about some other innovative features?
Here comes the most interesting part! Let me mainly focus on 4 latest updated features- NFT Market, Perpetual, Lucky Baby and DID.
BabySwap has launched a comprehensive NFT ecosystem, including NFB (Non-Fungible BABY), Profile System, Marketplace, Toy Figure, etc. We will be talking about more on NFT Market today.TheBabySwap NFT Market is a dedicated BNB chain platform for buying, selling, and trading NFTs.
NFT Market brings together BabySwap NFB (Non-Fungible Baby), INO (Initial NFT Offering) projects, IFO (Initial Farm Offering) projects, and many more trending NFT collections to provide a fully-featured platform for NFT projects and users. Now that we have dozens of collections online, and will be adding more gradually. By using our Import List feature, you can also list your NFTs via simple clicks, and it will match with the market price automatically for you. Moreover, we just added Filter, where you can easily target your NFTs by collections, elements and prices.
And then, here comes the Perpetual. A perpetual contract is a special type of futures contract, but unlike the traditional form of futures, it doesn't have an expiry date. So one can hold a position for as long as they like.
Some of you might not be familiar with perpetual and there are plenty of places to research before you actually use the feature. I have to say Perpetual Swap has a relatively higher risk than Spot Trading. Please DYOR on perpetual tradings other than the guidebook provided by BabySwap and know your own risks before you start trading. If you are confident in your knowledge in perpetual, feel free to use BABY as the trading fees and enjoy the 10% discount!!
These are all fundamentals of BEP 20 and BEP 721 tradings, and we will update more on them.
Next one, we have Lucky Baby online. In Lucky Baby, you will be able to win huge rewards by accomplishing simple tasks or buying tickets using a small amount of BABY. The result of our 5th round is really jaw-dropping! One got $541.2 using ONLY 15 BABY! Yes, you are looking at the authentic and correct number here!! ONLY 15 BABY can bring you fortune by 500 times! 🤑😱 Chances are random! Note that you can get double or even triple rewards since the Piggy Bank will randomly select the winning tickets! You might have 2 or 3 winning tickets in hand!
Dont miss out! Lucky Baby cycles every 7 days, each round starts and ends every Wednesday! Be the next Lucky Baby!
Last but not the least, we finally launched DID v0.5!! DID is the Decentralized Identity in Baby Metaverse. It is a Social Platform with unique identities, Web 3 data, Web 2 social media, and Baby Wonderland. We have more functions in progress, and hopefully can announce it soon! Create your Web 3 profile and soon you will be able to explore every piece of land in Baby Wonderland! Check it here: https://home.babyswap.finance/did
I can only leak a little about Baby Wonderland, stay tuned and be ready to be astonished!
Q4: That's pretty sick! Where are you on your roadmap? What are your plans to upgrade the BabySwap ecosystem?
We had finished up with our Baby 1.0 roadmap by adding those small features related to trade, stake, and NFT. We also had a great disclosure of our 1st-year anniversary series events and did massive features upgrading. We had different features online every day for the past weeks.
You are also expecting these in the following month:
DID (Web 2 Social Media, Achievements, Baby Wonderland)
Baby Metaverse online
Other than BabySwap, we also have BabyWealthyClub, a solely operated PFP NFT project on BNB Chain: https://babywealthyclub.com/
Baby Wealthy Club was introduced to the public. Baby Wealthy Club was a brand created by a talented designer originally from BabySwap, and its the PFP project supported by BabySwap. It will be solely operated by the BWC team, and we believe BWC will eventually become like BAYC, Moonbirds, and other top projects on Open sea. Please follow BWCs Twitter for more info, and see how amazing it is: https://twitter.com/BabyWealthyClub
As Baby Wealthy Club mint and Wealthy baby revealing period were over, an increasing number of people bought and held Baby Wealthy Club NFTs. Baby Wealthy Club went like crazy in its trading volume and popularity! It's never too late to own your Wealthy babies and join the Wealthy club to live a chilling, earning and shilling life! Grab your chance to discover more about BWC! Treat yourself with some nice NFTs shopping: https://market.babyswap.finance/nfts
And let's check out our last piece of the disclosure of Baby Metaverse!
BUILDNGS? MAPS? METAVERSE? All correct! Be ready for the official launch of the Baby Metaverse!
In addition, from time to time, we adjust $BABY Tokenomic and Better Utility and BuyBack accordingly for a healthier market and benefits boosting for our users.
Money comes and money goes, it all goes to BABY! And we have even bigger financial support to get you through the bear market. Hold long, and stay strong.
Lastly, I highly recommend you guys to follow our Twitter: https://twitter.com/babyswap_bsc! With Baby Metaverse making a huge leap into web 2, we need your love and support! We've also released news related to Baby Wealthy Club, thrilling features and updates on BabySwap, and the revealings about Baby Metaverse! Keep yourself in the loop for more updates, we got all the news you want to know there! Don't miss out!
Have you been audited? Have not heard you talk about that security of funds is what every investor craves and plans to escape in case of insecurity if funds, scams and rug pull? How strongly built is your security put in place?
We’ve done a full circle audit with both CertiK and Peckshield. We also will have all new features audited before it goes online, and that’s why we have 9 audit reports here: https://www.certik.org/projects/babyswap
We also have skynet service from CertiK, and it monitors our contract 24/7. Our score is also the top on BNB chain.
What is your strongest advantage that you think will make your team lead the market?
Our advantage is definitely being as a full-functional Metaverse. We assemble both BEP 20 and BEP 721 assets on BabySwap. You could trade almost any tokens on our swap, and trade the most trending NFTs on BNB Chain in our market. I really like the idea and we are also following the idea of AMM+NFT+GameFi+Web3. So it made us stronger where AMM is fundamental, NFT is the connector, and GameFi is the ultimate goal, Web 3.0 is the bonus point.
And as I’ve mentioned above Baby Wealthy Club is the significant and symbolic asset of Baby MetaFi, and a bridge that connects Web 3 with Web 2! Altogether, BabySwap and Baby Wealthy Club make the whole Baby Metaverse the most unique and stand out the most! Baby never stops building! You will see more in the following times! Please stay tuned and check out the feature map here:
How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates? Plz answer my questions
Telegram Annoucement: https://t.me/BabySwap
What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
To assemble all BEP 20 and 721 assets on the BNB chain, to let users at least check on BabySwap once a day, to make you feel like all the financial and fun features are on BabySwap, to create a crypto space with Web 3.0 as your wonderland. I think we are halfway through.
And our upcoming updates are all in the last Q&A in the first session! Please check it out if you are interested!
Is your platform a global or is there any restriction to certain regions?
We have dozens of multi-language local groups for BabySwap. Our website also supports dozens of different languages. And we have more than 140k Telegram members in the official main group, along with 14 local groups, so we are pretty globalized and will be more globalized in the future. We welcome all investors.