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Hello, Symbiotes! If you missed Symbiosis AMA with the OEC network, now you can read it!
James (OEC):
Welcome, Diana! How are you?
Diana (Symbiosis):
Hi everyone! Nice to e-meet ya! I’m fine, thanks!
James (OEC):
Let's get our AMA started.
Please briefly introduce Symbiosis for those who might not yet know about your project.
Diana (Symbiosis):
Symbiosis is a multi-chain liquidity enabler. We aggregate decentralized exchange liquidity across any EVM and non-EVM networks. So, it means that you can swap any token and transfer liquidity.
James (OEC):
Indeed! It's cool and convenient!
You guys have dApp correct? Can you tell us about the Symbiosis dApp?
Diana (Symbiosis):
Cool question.
You can think of Symbiosis as a Uniswap-like AMM DEX, but working with virtually any blockchain network. With a single click, you can swap any token on say Ethereum to any token on OEC. No special software is needed.
Besides that, you can easily add liquidity and manage it across all chains within a single interface. So imagine you have a GameFi project, earning by playing the game, built on OEC. Once your token is deployed on OEC, with Symbiosis you can provide liquidity to it (and then we route it to CherrySwap or Jswap, or any other AMM DEX on OEC), and so from now on it’s a tradable asset!
Also, you can integrate Symbiosis so that people swap from any chain to your token on OEC without leaving the interface of your game! Just imagine how it enhances the user experience.
James (OEC):
Very cool!
You have launched on mainnet. Can you share the aspects of the mainnet?
Diana (Symbiosis):
It so happened that we had two major announcements this week. In addition to this, we now have about 20 wallets with which we are negotiating integration. Due to these technical reasons, we were forced to postpone the mainnet release by a week. We decided to stick to a balanced strategy and run a series of major integrations before launch, as it requires a lot of technical effort. I think we are growing too fast :)
Honestly, there are so many work chats in my messengers that I don’t answer my friends for days. Guys, if you're reading this, please don't be mad at me! I love you very much!
James (OEC):
What benefits do users get for swapping into OEC when using Symbiosis?
Diana (Symbiosis):
Interesting question!
- Easily swap tokens from any chain to OEC;
- Provide liquidity for newly created tokens on OEC;
- Facilitate projects development on OEC, enriching the OEC ecosystem :)
James (OEC):
What makes Symbiosis's concept of liquidity exchange across any EVM and non-EVM network different from its competitors?
Diana (Symbiosis):
First and foremost, at Symbiosis, we use the classic AMM pools model without the need to pair every token to our native token. None of our competitors even comes close to doing what we do.
Secondly, we basically can allow any token on any connected chain to be swapped to any token. In one click, without installing additional software.
Last, but not least, we bring better capital efficiency for end-users (less price slippage) and liquidity providers (less impermanent loss).
James (OEC):
Can you share with us the Symbiosis farming model? What features make it unique from others?
Diana (Symbiosis):
Firstly, let’s take a look at rewards.symbiosis.finance.
Liquidity provider tokens or LP tokens are tokens issued to liquidity providers on a DEX that run on AMM protocol. When liquidity providers deposit tokens to DEXes, they receive LP tokens in exchange. LP tokens can be used to withdraw deposited tokens and rewards for staking.
Rewards are distributed block by block. We would like you to consider waiting a bit for your reward to grow, so you could pay fewer network fees.
Right now you can do this on two networks: Ethereum and Arbitrum.
James (OEC):
From the last AMA, can you tell us which part of your roadmap has been achieved? Which is yet to be achieved and how soon will it be achieved?
Diana (Symbiosis):
Despite some delays, we are on track with our roadmap. We even add a few integrations that weren't initially planned.
We launched farming, vesting, our token appears on more and more exchanges. I think that you can subscribe to our social networks at least to observe the development of the project with the same passion as we do.
James (OEC):
We recently found out you have your mascot. Tell us more about it.
Diana (Symbiosis):
Our Symbiote is a domineering and determined alien octopus. We don't know what universe it came from or what its ultimate goal is. We only know that the Symbiote liked us, so it told us all its multi-chain secrets.
I think Symbiote will tell us many more interesting things in the future.
James (OEC):
Very cool! We like your mascot.
Tell us more about $SIS, tokenomics, and its utility and where to purchase them.
Diana (Symbiosis):
$SIS is the protocol token of Symbiosis. It is deployed on Ethereum and Arbitrum and used for staking to run a node in the relayers network and governing the Symbiosis DAO and DAO Treasure.
Also, you can visit sis.symbiosis.finance for more info.
And this one too: docs.symbiosis.finance/sis-token/sis-token
James (OEC):
What does the future hold for Symbiosis?
Diana (Symbiosis):
We think we will be very happy to maintain a partnership with the OKX and OEC teams since our token has been successfully listed on your exchange and we are planning an equally successful integration of your network into our product.
We plan to keep up with the roadmap. It looks quite impressive, I advise everyone to check it. Also keep an eye on our social media, as the world is so unpredictable, who knows what awaits you around the corner!
Community questions
Too many projects promise magic but never release any working product or prove any revenue, within a short/long time of release. Is your project also like this? If not, can you tell us, What makes your project different from other projects?
Diana (Symbiosis):
We do not promise any magic. We are different:
•Interoperable
It connects every blockchain that gets enough market attention. Our ultimate goal is to bridge together all networks.
•Non-Custodial
No one (including the Symbiosis team) has access to user funds.
•Fully decentralized
No central party can stop the Symbiosis protocol or censor users from accessing it.
Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
Diana (Symbiosis):
Our main task was to fix the terrible UX of many cross-chain and multi-chain projects.
Our vision is that users need a simple solution for moving their liquidity across multi chains; current solutions like bridges create liquidity fragmentation and are not trivial for end users.
We have a vision that a multi-chain world needs an easy-to-use solution, as Uniswap. Such a solution should allow any to any token swaps on every chain, so users don't need to look for another AMM or bridge.
3. What are the ways that you do for Marketing?
Diana (Symbiosis):
In marketing, we prefer to get a lot of feedback from users and actively participate in partner events. Also, I always pay a lot of attention to our visual communications, since I am writing a diploma on this topic at the university
How do you spread OEC across the world?
Diana (Symbiosis):
Nice question! I think we will come up with many more ways to collaborate! So stay tuned for our announcements!
James (OEC): Thanks so much Diana for going through all these questions and giving your answers! Very much appreciate it!
Diana (Symbiosis): Thank you!
Join our community!
- symbiosis_fi
- t.me/symbiosis_finance
- Medium: medium.com/symbiosis-fi
- Discord: discord.gg/symbiosis
- instagram.com/symbiosis.fi
