AMA Session FOLLOW SWAPS
GEM SNIPERS
Group: t.me/gemsnipers
Announcement channel: t.me/gemsnipersann
We would like to tell you about the AMA session with FollowSwaps , represented by Mr. Andre.
Andre is the founder of FollowSwaps . This AMA took place on 20th January at 11.30 AM UTC. The total Reward Pool Was $50.
SOCIAL LINKS
Twitter: https://twitter.com/SwapsFollow?s=09
Telegram: https://t.me/FollowSwaps_CHAT (@FollowSwaps_CHAT)
Website: https://followswaps.com/
INTRODUCTION
Q1. Who are you and how did you get involved into the crypto space? What are your experiences and expertise? Have you been involved in any other crypto project before?
I am Andrey, founder of FollowSwaps, let me tell you about our team as well to get a better picture as we are always doing things together.
The team consists of 3 core members which are vastly experienced in all kind of bots and other trading tools, also there are people we outsource. The main Dev has been coding for a long time and also made copy trading bots/other bots for Binance and BitMEX for private customers in the past. All of us have been involved with crypto since 2017.
FollowSwaps
Q2. Could you please give us a brief description of what is Followswaps. What problem is Followswaps aiming to solve?
FollowSwaps is a copy trading bot.
Copy trading is a pretty popular form of trading, and I’ve found eToro for normal markets to be an excellent copy trading platform.
We can provide a similar service in a crazy crypto/Uniswap space.
We have copy trading (when “donor” transaction was already successful) and *front-run option (which is more expensive and not needed for everyone, which allows you to make a trade before the “donor” wallet you’re following).
You’ll be duplicating their positions/swaps automatically in real-time and direct proportion.
Regarding problems we are aiming to solve,
A lot of people are unsuccessful when it comes to trading, some due to lack of knowledge, others because they simply haven’t got the time or patience to trade (and millions of other reasons). In a blockchain everything is open, you can see peoples trades, transfers, etc
Q3. So where can we find our donor?
We are using dextools/etherscan to find addresses, EXEL to sort them out and zerion.io to check wallet performance
if you try manually follow big/profitable wallets on Etherscan, check their buys or sells and copy, you’ll quickly realise it’s near impossible to follow successful wallets and be profitable, as human speed is merely not fast enough. Most of the time, price changes too quickly, and you can’t copy every trade successfully.
For example, by the time you see that someone you’re following is dumping their bag, its usually too late and the price has already changed significantly. You would also need to consistently monitor the wallet, looking out for any changes.
With the FollowSwaps bot, you unlock the opportunity to follow/copy any ETH address and even front-run them. If you pick a very good and successful wallet to copy, you can go about your day while the bot working for you.
Q4. I see your platform offers copy trading bot, could you please show our community a demo so they can have a better insight?
Anyone can go to https://followswaps.com/app , set up a bot on a testnet and try it without any risk
Q5. Do you have any competitor in the market? If so, what makes you unique and different from them?
To be honest if we are talking about copy-trading only, I don’t know any in DEX space.
Q6. Please give is a complete description of the tokenomics. Was there any private/public sale? If so, what was the price?
1359.6 WAPS Initial Circulating
849.75 WAPS presale (0.12 ETH per token)
407 WAPS and 67.7 ETH added to Uniswap liquidity pool
0.166 ETH per 1 WAPS Uniswap listing price
101 WAPS for marketing
1699.5 WAPS Max Token Supply
339.9 WAPS currently not in circulation
255 WAPS for a team locked for 3 months
84.9 WAPS for future marketing locked for 3 months
presale price was 0.12 ETH per WAPS and we raised 101 ETH from our investors
Q7. What can we expect in the future from Followswaps in terms of marketing and product development?
One of the features we always wanted to add to our bot is selling before “donor” sells if a token reaches 2x, 3x profit.
We then realized it’s technically the same as implementing the limit order feature everyone wants to have on Uniswap.
After talking to the community we decided to add limit orders in our final local version of the bot.
In February we are planning a more advanced local version with limit orders requested by our growing community.
Regarding marketing, I am trying to hold until February to do a full marketing push, we already agreed some AMAs and partnerships with influencers
Q8. How about the authenticity of the bot .. we could see lot of security breaches with the crypto world .How you will ensure that?
Security is very important to us, to allow any bot to execute trades, you need to give your private key to the bot somehow. For us, it is all encrypted and secured on our server and bot has to have access to them otherwise, it’s impossible to approve any swap, especially if you don’t know what is your next purchase is( in case of copy trading you don’t know which coin going to be the next)
As I already mentioned above, we are working on a local version where closed source module doesn’t use your keys and everything wallet related is open source.
PUBLIC ROUND
Q9.The truth is that it is almost impossible to follow successful wallets and be profitable, as human speed is not fast enough. How does FollowSwaps help me keep my wallet profitable and with good numbers? What are your use cases? What would be the difference in using this BOT?
You need to find a good wallet to copy-trade. Our bot only duplicates their positions/swaps automatically in real-time and direct proportion.
Q10.Can you briefly say how the FollowSwap TradingBot system is designed to be stable and reliable for Futures traders, even in turbulent times ?
Our bot does not make trading decisions, only copy trading
Q11.Who is FollowSwaps target customers- professional traders or the one’s that are just getting started? Who can benefit the most from the tools that you are offering?
Anyone, I believe professionals can set it up and trade, mostly using our front run add on.
The ones just started can benefit from setting u our bot and forget about this, just checking they wallets to make sure it’s in profit. Providing that they know profitable wallet and they willing to follow and copy trade it.
Q12.Using the Follow Swaps bot we can follow any ETH address .. but is there still a limit on the number of addresses we can follow? or can we follow as many addresses as we want?
Yes , if you using our bot for normal following, you can copy-trade 2 addresses.
if you want front run feature , you can only have one address to copy trade and front run
Q13. How much Token i need to buy your bot and If i hold Any benefits ?
At this moment we have two tiers, where customers can choose to hold WAPS and use our bot for free( 10 or 50 WAPS) or pay for a monthly subscription.
I would like to highlight that 50% of all monthly profit we receive will be burnt, this means you won’t see constant selling pressure on the market.
Q14. Can you give examples of use cases? Like how I can use your bot and make money? How much $WAPS Need to pay buy Your Bot? Or if i hold $WAPS So Can i get any Extra benefits?
Thinking about more use cases. Obviously, copy trading but what else?
Another use case we have is if you bought a “bag”/coin but worry about contract owners to dump/sell on you. You simply set up our bot to watch their address, to sell before the contract owner/big wallet sells. This is how the front run feature can be used in a clever way.
And thanks for your time everyone.
