Rango Exchange AMA Summary Recap with Shin Chan Community
We held a live AMA with Rango Exchange on 28th October 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Mika | Shin Chan: Before AMA start, can you introduce yourselves and the team background?
RanGojo: Sure,
We are a fintech startup established 3 years ago, started our journey in crypto with algo trading and arbitrage, and Rango is our first product in crypto space.
We have started with a small team of developers, but we are expanding in a very rapid pace.
Atm, we are more than 10 people mostly developers and also marketers, designers, etc. We are going to hire more devs and UX designers as soon as we close this round of investment.
Mika | Shin Chan: Do u have any upcoming news or events that the community need to keep an eye on?
RanGojo: Yeap, we have our token launch in about 3 months from now, also we have a good surprise from Rango Private sale, several well known VCs want to invest on us. The names are secret yet. 😁
There are tons of other updates including
* Private sale result
* IDO in few months
* Massive amount of integration with L1 & L2 in Q4
* Launch of stable version in Q1 2022
And a lot more that you can read on our whitepaper.
Rango is a multi chain aggregator. We integrate all dexes and bridges and find the best path between two tokens on any chain and also between multiple chains.
Our vision is to integrate all dexes and bridges on all blockchains so users can move smoothly anywhere they want, with lowest costs and through secure/decentralized channels.
Our public beta is up and running:
https://rango.exchange/
AMA Twitter Section Begins:
Q1: I see Rango is similar to regular swap and some of Rango’s Competitors are UNISWAP, 1INCH, SUSHISWAP etc , Can you tell Me What Features of Rango Make It Different and Unique from these Competitors and how does it work?
RanGojo: We in many aspects resemble 1inch, which aggregates everything on a single blockchain like ETH, BSC or Polygon, but with a fundamental difference, we aggregate cross-chain and in-chain services from every blockchain to create a super route around all the crypto ecosystem.
We let user travel from anywhere to anywhere else in the cheapest and easiest route.
Although there are some similar attempts going on, still we are unique in the crypto market by the scope of the problem we solve and usability of the product. We support 27 blockchains right now.
Q2: Is Rango completely safe? How do you secure your platform in providing trading and other trading features, what are your security measures?
RanGojo: We choose a non-custodial approach to implement our aggregator.
It means that all swaps and bridging are done in users’ own wallets, absolutely nocentralized ownership from Rango is forced.
So even your multi-step swap fails in the middle, your funds remain safe inside your own wallet.
Furthermore, we planned to use our fee outcome to build a treasury to compensate potential loss for the users.
Q3: I see that,the platform have not yet released any token.
But there are quite a few imposters claiming to be your token.
So,could u give us a clear idea on when and where will the token launch occur?And how can the users buy it safely?
RanGojo: Sure, so the best idea is to join our telegram and twitter groups and stay tunes for updates.
But based on our roadmap, we are going to launch our token on Terra in about 3 months (in first quarter of 2022)
Pylon, Starterra and Thorstarter are some candidates for our IDO launch, but not finalized yet.
The only source of truth about the token is our announcement channel @ https://t.me/rango_info
Q4: RANGO EXCHANGE recently announced integration with HARMONY. Could you please tell us more about this integration? What advantages will each project receive? And what are the plans for this collaboration?
RanGojo: Sure, by integrating Harmony into Rango, users will be able to swap their coins from any chain to Harmony and vice versa. So it would bring a huge transaction volume to both Harmony and Rango projects.
Imagine you want to go from Cosmos to Harmony, You need to change swap UI 3 times (e.g. Binance Bridge, 1Inch, Harmony Bridge) to do so, but using Rango, it would be a smooth multi-step swap in a single UI.
We’ve submitted our grant proposal which is accepted last week 😎, more infromation is available here:
And there will also be good news on other top blockchains integration and of the market in Q4. The same synergy is going to happen between Rango and many other major players in the market as well.
Q5: Non-crypto users must be present for mainstream adoption to take place. What strategies do you have in place to attract non-crypto consumers to your project? Is there a plan to collaborate with non-crypto users and real-world applications in the near future?
RanGojo: We are providing the best UX for both expert users and new comers, and we want to have the most number of integrations so our users won’t need to worry on how to switch many uis/ux to achieve their goal.
So Rango would be a good starting point to get familiar with crypto blockchains and dexs and a the best trading tool to trade cross-chain.
Another thing that comes to my mind is our Fee Service which will be launched in 2020 Q3, that would help users to have the required fees for their multi-chain swaps by paying Rango tokens, without struggling with multiple CEX and DEXes to find few dollars of BNB, ETH, etc just to do a simple swap.
Telegram Live AMA Begins:
Q6: Does Range Exchange really have any barriers that currently limit them from enjoying their full potential in DeFi? If so, could you tell us what would this be? And when do you estimate to overcome these small obstacles?
RanGojo: Good question,
So one probelm that users are facing rn is that they need to have fee inside several wallets to perform their multi-chain swap.
So I think our Fee Service that will be launched in Q3 will help them a lot, just imagine pay Rango token and recieve required fee for the swap.
Q7: “RANGO”
I searched it meaning in Google It says ,” LATE RISER”, In any Possible that this meaning can be fit in to RANGO platform?
RanGojo: well this question
The name is taken from an animation of the same name, Rango is a chemeleon, and chemeleon is a lazy character that don’t move too much but it can change color of itself to adapt to the new environment.
We are the same. We help people to stay lazy but be able to change the color of their assets to anything they like.
Q8: Rango integrates any bridge if it is built. Can you integrate bridges into any network or platform?
RanGojo: If you take a look to our white paper in our website,
https://rango.exchange/docs/rango-whitepaper.pdf
there is a detailed road map about what are the next bridges and dexes we are going to integrate.
so yes, we could integrate any exisiting bridges but there are some priorities based on road map, co-marketing proposals and community requests.
Q9: 📍 In your whitepaper, even though Rango is in beta, users can download BSC, Ethereum, Thorchain, Terra, Avalanche, Harmony etc. I read you mentioned that they trust you by exchanging ~$3.3 million worth of assets between different blockchains.
Have you analyzed this success among yourselves, what could be the reason for this success and the trust you provide in the eyes of users? Your conclusion will shed light on all of us.
RanGojo: Another good question 🤗
This number is for the time of writing, it’s now more than 11M$. Well we are still beta and we warn people to avoid using the product with huge volumes, but they honestly don’t care. Because they test it out of curiosity and suddenly find it the exact product that they need in their daily life.
Since the UX is intuitive, flow is clear and the product solves some real problems. I ofc don’t deny that some of these volumes is from people that like to get airdrops or so, but we have so much positive feedback from real users that encourages us to continue and make the product better and better every day.
Q10: v
RanGojo: Let me answer this question that I saw in both twitter and telegram.
We are an aggregator and do not have liquidity of our own. Most of the hacks normally happen when you have a smart contract that locks money or other important stuff and our solution is just to aggregate them not to create them ourselves, so we use solutions like 1inch, terra swap, etc. that have already been audited and are secure enough
Q11: I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ?
RanGojo: A frequently asked question but seems you were lucky 😄
The best win-win way for everyone to participate in Rango’s growth is by two means:
- The affiliate problem: easily connect your wallet in Rango, generate an affiliate link, share it and start earning. Good news is that 100% of revenue will be for you in Q4 and Rango takes nothing in this time.
- Participate in IDO to have early access to token and help us raise some funds, it’s going to be in a few months, most likely to be held in Q1, check our announcement channel or medium for that.
Q12: 🌻Is Rango Exchange? Do you have AUDIT experience? Do you want to AUDIT your project to increase its security and dependability? Is your platform suitable for newbies to cryptocurrency? Is it exclusively aimed at professionals?
RanGojo: Let me explain more about auditing you asked.
So basically we don’t have our own smart contracts, there’s a routing backend that is centralized like 1inch that tries to find optimized route for you.
And our token related smart contracts, such as staking, governance, … contracts are forked from Anchor Token contracts which is audited beforehand.
Q13: $RANGO is the symbol for Rango Exchange. So what will $RANGO be used for and how will you encourage more use of your token? How will $RANGO be able to become more valuable over time and become an attractive investment vehicle?
RanGojo: Another good question.
This needs a detailed answer and is already explained in the whitepaper, I just give some keynotes ideas for that:
1. You can pay for fees by $RANGO
2. $RANGO will have dividend between holders as a source of passive income
3. We may spend some of the income to do some buybacks from the market to create demand
4. We will charge fees in the future from swaps in our platform and $RANGO holders will get discounts.
Q14: I note that Rango Exchange can link to a number of multi-chain wallets, like Metamask, Binance Chain, Keplr, and others, but why don’t you include Trustwallet, which has a large user base? Do you have any plans to integrate Trustwallet with the Rango exchange in the future?
RanGojo: About trust wallet,
Yes we are already working on Trustwallet and Wallet Connect in general. There are few bugs to fix before making it production-ready, try to have it in Q4.
Q15: What DotOracle revenue model? In which ways do you generate revenue/profit?So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?
RanGojo: Several questioners asked about out revenue model, but as I love attack on titan anime, I will answer to mikasa. 😁
Currently we are going to have this service fully free for user, since our 1st priority is to bring super big volumes and it will be free for coming months as well.
Later we will charge some small fees for multi-step swaps by percentage or a small fixed rate.
Also, the affiliate is another source of revenue which is already been launched and we are going to pay our first round of affiliate rewards in Nov 2nd.
Q16: 🌑 I read that Rango will integrate Cosmos infrastructure into UX. What’s next after completing Osmosis Integration and what benefits will it bring to Cosmos Rango?
🌑 How will you use the grant support from Harmony to fully integrate Harmony Bridge with Rango Exchange and how will the integration benefit between Native, ERC20 and BEP20 tokens?
RanGojo: Another frequently asked question asked by several.
The next step is obvious, we are working on Sifchain and gravity as well, so we’ll have 3 top DEXs on cosmos and will support more than 10 top cosmos-based blockchains in the coming weeks. This way users can change any assets from ETH or BSC to any asset in all the cosmos world and vice versa
The grant is being used for the development of solutions between HARMONY <> BSC <> ETH and also on marketing to bring more people to both Rango and Harmony
Q17: I have seen that you have done many AMAs, my question is, what do you expect to get from so many AMAs and what are your goals with the community? Do you consider the community to be a fundamental role in the project?
RanGojo: I think it would be the final question. 😅
We like to make people know us, because once they understand what Rango does and how it makes their life easier, they start using it everyday.
So we like to have more and more campaigns in 2022 specially after the stable release.
Making a good community is our first and foremost goal.
-End-
