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26 Oct AMA w Megalodon
Today we will talk about 3 main topics, along with answering additional questions the community might have
  • SquidStake and the External Launchpad, why are we allowing an AMM?
  • Swap-As-A-Service that targets projects and scales our ecosystem, and Squid Stake was one of the first projects brought on with this.
  • Lending platform arm, shedding some light on future plans
LaunchPad: I will share some of the thoughts of the team. So Why SquidStake?
For AS, we’ve had decent price action for tokens, which means we have a platform that more people are confident in and will stick with longer. We’ve come to a point of near 250M TVL for our platform as liquidity for our farms, close to 125M locked. Across our products, we have steady APRs but not too high and now we would like to expand.
We do what we call horizontal scaling, imagine a scenario with more projects building farms, locking in more TVL. The team is also pretty solid in calls with their founder (who doxed himself to us) and has experience in previous projects in other chains. This particular team will do us proud and AS team will put in our own capital to support them.
Why not put a limit per user and a captcha (Anti-bot) to the launchpad of Squid? It would be healthier for the launch to put a limit to the quantity of tokens that can be acquired for users… Otherwise one single person (or bot) will Buy the 5M in a single tx
Our launchpad follows an overflow model, if a whale commits the full allocation, and everyone else contributed x4, the whale only gets 20% still. Everyone stands to gain from this pie and gain some tokens.
In pair with other projects like SQUID, are we planning in the future to actually increase multipliers to some of the pairs, for example the volume of swaps will increase in future ?
Yes we are definitely looking to increase multipliers, but emissions are limited, at about 10 FINS/block. So have to juggle farm multipliers. But if we support other AMMS, then they have their own emissions, etc. A lot of projects create liquidity pairs from PCS, and thus the more people use them, the more TVL they lock. That’s our dream and endstate, that our LP pairs are used and help us out a lot.
Could you be a little more clear to me on how the squid token and JAWs/FINs will not be in conflict in value?
The end state they are looking for is not as Y.O., per se because of the risk and logistics required to run and they aren’t looking to do that. However, their purpose is to lock in major tokens like BNB-BUSD, USDT-BUSD, etc. AutoShark goal is now to get more exposure, to focus on smaller to midcap projects to lock their liquidity. We have a larger community and people that are in it for the long term. We can aim to be centerpiece for more projects to onboard.
Can they count on liquidity in Squid Stake for AS swaps?
Yes. Money locked in farms does nothing for the platform, but people using our LP pairs will help much more, more liquidity, less price impact, and volume from arbitrage trades is also sought after. For FINS tokenomics, the more trading volume we have, the more value we distribute.
In the beginning JAWS-BNB was used for the launchpad. Why FIN BNB this time?
Many many answers to this. FINs have higher liquidity than Jaws and can be used this time.
JAWs on the other hand can be used in a balanced way to farm squid for example. So both tokens have their uses. Short-term price movement will occur for the two tokens but it is not going to be an area of concern.
We have some use-cases for our NFTs as farming and dividends through airdrops. What other use-cases are planned for the NFTs?
What is happening right now is that our team is working on something interesting in the pipeline (which cannot be shared right now). An increase in exposure is the best right now. We don’t want to end up forcing ourselves to purposely give more and more utility to the token and impact the tokenomics.
There are potential use cases for the NFTs in the lending platform (not confirmed yet)
How can the deposit function be safe? Can’t it increase chance of rugpull?
This kind of rug pull on the deposit function is a common occurrence. 10% is the max deposit that Squid stake can set. We have gone through their code with our auditors WatchPug
Seeing that AS have a lot in common with Squid Stake, would it be possible to use AutoShark NFTs on the Squid platform and vice versa?
We aren’t keen to do it right now as it may affect each other’s tokenomics.
What do you think were reasons you didn’t get into the September Monthly Stars?
Some of the negative news that surrounded us for a bit. We have been growing to a quarter-billion TVL and may still garner mention, maybe even top 10 position but it will take time or bust.
How are we getting to the top of the MVB?
Security is very important, as well as the growth of the platform and a strong community. We command slightly more than half of the TVL of larger TG groups. We need to grow, organically, have more community members, and many things are planned.
How are you engaging CMC?
We, more importantly, want to be listed as a Dex. When new projects list on us, they can list on CMC. It will take one or two months, hopefully, sooner.
Any solid plan for more exposure/growth/marketing to attract more users?
The Launchpad is a form of marketing as well, and other efforts as well.
In lending borrowing feature, we will give FINS, JAWS right, not another token?
Some of these larger lending platforms require further incentive to use lend/borrowing. Margin trading and lending aren’t doing well because there simply isn’t enough incentive. There may be a need to provide additional incentives, the team is still in discussion if a 3rd token is relevant and how it can mix with JAWS and FINS.
If you’re going cross chain, will you go to an established chain or to a new frontier?
What we realized in Polygon was that there isn't enough adoption, in our opinion. If a new frontier, it would tarnish our reputation if we have nothing to show for it.
What about order books being brought into the AMM, is that still on the table?
We have something similar in mind, but will be solidified with the margin trading arm launch. We can partner with other projects to augment the platform with that in the meantime.
Will squid team lock liquidity on our platform after launch?
We will send back half liquidity, the other half we release at a later date.
Will there be a separate launchpad for NFT owners like how ApeSwap separates BNB and Gnana launchpad in future?
We may consider this. We have more things planned to grow our ecosystem first ( E.g. Lending feature for example)
I want to trade/sell my zShark nfts with AutoShark. When would this be done?
The team is building a V2. Emporium, halfway done and we will eventually get there.
What is AutoShark’s current collaboration with Alpaca and any plans to take this partnership further? (Or is it still in the pipeline? Pls do share!)
There have been some initial discussions as of now.
How will AS lending be similar and different from existing lending platforms like aave, alpaca, qubit, etc?
We need to understand utilization rate and whatever we build, which needs to be high, for APYs to also be high. Similarities are: we are building this protocol to be able to do leverage trading and leverage farming. Execution will be different. By this, we will have a higher utilization rate than other platforms in the market. This feature is something we are planning to do.
Will NFTs have a role in this lend/borrow platform?
Still early for a final decision at this time.
What are you guys doing to prevent bots from taking all the NFTs in 10 secs?
Mega: We have tried to think about solutions to this. Some of these could be to do a Dutch auction whereby prices could start at a high price e.g. 8BNB that drops by unit time to the floor price of 0.8 bnb. This is one way of doing future drops. Another means could be to limit the number of NFTs in the wallet. A decision will be made at a later time.
To allow people with NFTs to have a whitelist for the next tranche NFTs drop?
There is a risk of a non-guarantee sell out which would hurt the holders of NFTs. Any problem would be having non-available for public sell which would not be good as well.
What about a DAO, do you have plans for this?
We want to make sure that the AS ecosystem reaches a certain stage to become the no 1 defi app. We want to be the place to have a whole suite of features e.g. yield farming, optimizer, nft marketplace, lending, margin trading. And a DAO would be considered when these have all stabilized and we have fully grown our ecosystem.
Is the theoretical deflationary price for Jaws the same? At 0.8–0.9?
This is like moving target board. Over time, as we scale up our ecosystem the token price will appreciate. Now we have about a million dollars USD of dividends in the pool.
There’re constantly humongous deposits, and nothing helps JAWS
Jaws is a yield optimizer token. When we have profits, JAWs will leech some of those profits. When deposits are done, FINs will benefit first. Whatever price trends are happening now is due to external factors due to events.
Lending platform when?
This is what we must do to get that 1b TVL. For leveraged farming, we need leveraged protocols that allow you to stake more than you currently have, like stake 200% borrowed TVL and accrue 200% APR, and the like. ETA of Lending, it isn’t easy and takes a bit of time, especially the UI. Smart contracts are also complicated but I hope it can be done as a Christmas present for you guys.
Last modified 29d ago
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