BuildClub X JioSwap Twitter Spaces AMA Recap.
In a Twitter Space interview with Build Club, Emmanuel Appiah, the Chief tech at Glibx and co-founder of JioSwap, shared his view about the future of crypto, web3 and some of the problems JioSwap intends to solve. Here is a recap of the interview for those of you that didn’t get the chance to listen to it on Twitter.
Monica: Share with us more about yourself and your new project, JioSwap.
Emmanuel: I am Emmanuel Appiah, also known as dezzyboy, chief tech at Glibx INC, a software development company based in Canada. I have been active in the crypto space since 2016, and I’m the co-founder and CEO of JioSwap Finance.
Monica: Let’s talk about JioSwap; what is it, what problem does it solve, and how does it work?
Emmanuel: JioSwap is a multichain slash cross-chain, automated market maker or AMM specifically designed for trading stable coins and pegged crypto assets on various chains. Jio allows you to earn passively by depositing your stablecoins, tokenized Bitcoin, or ETH on the platform, enabling users to trade and earn interest from their deposit.
Jio is also great for large trades, where current AMMs don’t offer competitive rates.
It addresses the high slippage issue with a hybrid function stable swap implementation.
Monica: What initially made you decide to build this project?
Emmanuel: So, the hybrid function algorithm is not new, curve was the first project to implement it. Which is part of the reason why we are very confident in implementing this in our own application, as it’s been battle-tested and proven to work well. We’ve made some iterations to the synth swaps and will later support cross-chain swaps, which we believe is essential for interoperability in unlocking deep on-chain liquidity.
Monica: How long have you been in the Web 3 space?
Emmanuel: Yeah, so as I mentioned earlier, we have been working in this space since late 2016. I don’t believe the term web3 was common at that time anyway. I worked on a few open-source projects, notably bitshares. I remember at that time; we were building what we called Gateways that facilitated deposits and withdraws of crypto assets onto the bitshares trading platform. And on and off ramp fiat gateways.
Fast forward two years later, during the master node protocol craze or frenzy. Worked on a tooling application that essentially allowed users to set up a masternode with one click of a button.
Monica: In your opinion, how have you seen NFT marketplaces and just NFTS, in general, evolve?
Emmanuel: Fun fact about NFTs: I purchased my first NFT this year, but I think it’s a great way for artists and celebrities to interact with their fans. I think that’s the most obvious one. Still, without sharing any alpha, I believe NFTs are a great way to fund positive social changes globally, and yeah, it’s definitely going to continue to grow as we learn more ways to utilize it and figure out some of the nuances.
Monica: What advice do you have for people who are kind of entering the web3 space specifically with using your project?
Emmanuel: We’re currently on test net. We’ll have a test that faucet available shortly, so anyone can request some tokens and play around a bit. Or, if you look to test our application, feel free to join our discord. And can provide you with some test net tokens for exploring.
And don’t be afraid, and feel free to ask questions when you join.
Monica: Being that you’ve been in this space since 2016, what part of your experience caused you to kind of bring this idea of building JioSwap?
Emmanuel: Yeah, so the idea was pretty simple, providing an essential defi product on numerous programmable blockchains that lacks the implementation of an efficient, stable swap. So, we just focused on chains that have high growth potential and focused on building on top of them. Yeah, we look forward to taking advantage of this gap and providing our services where needed.
Monica: You’ve been building with us. Let’s talk a little bit about what your experience has been being part of Build Club.
Emmanuel: Yeah, it’s been an amazing experience. The Build Club team has been very helpful and resourceful, to say the least, in assisting us through this journey. It’s been an amazing experience so far, and we genuinely appreciate the hands-on help we’ve gotten that has made our journey on building on nervous much more comfortable.
Monica: That’s wonderful to hear. And then how about building on Godwoken the layer two of nervous?
Emmanuel: It’s been such a great experience so far getting a chance to learn more about nervous Layer 1 chain through Godwoken and the concept of ckbytes. Yeah, some pretty cool stuff.
Monica: So, the biggest takeaways with your project specifically and maybe some of the biggest takeaways with Web3 in general?
Emmanuel: I think it’s important to note that when issuing Jio tokens, we do so with care and understanding of the limitation and the actual fundamental cash flow that the protocol will accrue from the fees generated upon launch. Some may say hey, well, why do you need a token? Well, I think it is a good question. But I think tokens are a great incentive for early supporters, but also understanding the limitations and how to alleviate sell pressure with underpinned cash flow or revenue makes a big difference when distributing token emissions. Minting tokens that actually will hold value.
Find out more about jioswap by Joining the community and getting involved:
Discord: https://discord.gg/cXgH4BW7EB
Twitter: https://twitter.com/jioswap
Website: https://jioswap.finance
Telegram: https://t.me/jio_ann
github: https://github.com/jioswap
