VoltSwap AMA Summary Recap with Shin Chan Community

We held a live AMA with CEO from Meter.IO on 4th September 09:00 PM (UTC+8). Here’s the recap for those who missed it.

Introduction

Jack: Before AMA start, can you introduce yourselves and the team background?

Xiaohan: My name is Xiaohan Zhu, CEO of Meter.io I have a mixed engineering and finance background. My first 15 years are in R&D in various high tech companies in the silicon valley, then I started a VC fund to invest in fintech and crypto. In 2018 I started Meter.io with my cofounders and have been focus on building on the project since then. All my cofounders are seasoned developers/architects in silicon valley high tech companies

After Meter’s mainnet and interoperability fully launched recently. Our focus is now ecosystem development. We are launching VotSwap (https://docs.voltswap.finance https://voltswap.finance) on Meter mainnet on Sept 9th.

docs.voltswap.finance (https://docs.voltswap.finance/)

There is currently an airdrop gleam campaign on https://gleam.io/competitions/jGKkA-voltswap-listing-contest The potential value of the total reward pool is in the tens of thousands since the reward tokens are still prelaunch.

gleam.io (https://gleam.io/competitions/jGKkA-voltswap-listing-contest)

Voltswap is a completely community driven project. We have donated the project to the community and I am helping on launching the project.

We don’t have any dev shares. All the tokens belong to the community.

Twitter Section:

Q1: VoltSwap provides a layer 2 front running and MEV resistant infrastructure which will not allow bots to take advantage of big orders. Can you kindly explain how this front running resistance works?

Xiaohan: There are many swaps including layer 2 swap on the market. We designed VoltSwap with 3 unique features to solve some pain points for retail traders and investors.
1. With the help of the Meter infrastructure, trading on voltswap is not only lightning-fast and low gas cost transactions but also front running resistant by default. When trading on Uni, Sushi and Pancake, you will notice whenever you place a relatively big buy order. There are bots trying to put a buy right in front of your order and the same size sell immediately after your order. It makes you enter at a worse price and the bot directly profits from your trade without taking any risks.

The way it works is that Meter network charges a minimum gas price. Transactions that meet the gas price requirement are ordered based on the time the network receives them instead of the gas prices. With more than 110 validator nodes on Meter, Meter is the most decentralized and fastest Ethereum layer 2 side chain. VoltSwap is both censorship and front running resistant yet fully transparent as the original Ethereum.

The other 2 key features are:

2. Maximize liquidity mining without the risk of losing funds with NFT smart wallet for each individual users

3. Crosschain assets trading and onboarding exchange DeFi chains with no KYC restrictions.

I can explain more later

Q2: I can see that you have 2 tokens here — the Metastable Currency $MTR & the Governance Token $MTRG. So can you site the differences between the two tokens & what more we can do with our tokens $MTRG & $MTR from adding Liquidity, Trading, and Staking?

Xiaohan: There are two native tokens on the Meter blockchain. $MTRG is for governance/staking and securing the ledgers. It also has the best liquidity. $MTR is a metastable coin used for paying gas and transaction fees on Meter blockchain. You will need at least some $MTR when trading on VoltSwap (we will airdrop you some when you bridge in assets to Meter) You will see many base pairs with MTRG on VoltSwap

$MTRG probably will be one of the most liquidity assets on VoltSwap

Q3: I read Staking/Liquidity mining in VoltSwap is designed to encourage long term behavior. How long is the minimum Staking period and how much % of the Reward will we get? For example, if a user unstakes before the end of the specified time, what will happen?

Xiaohan: There is no minimum staking period on VoltSwap. You could stake and unstake immediately. However, we designed the scheme to be encourage more long term behavior.

There are only Stake and UnStake operations for the liquidity mining program. There is no separate reward harvest function for staking. The user will have to unstake a portion or the entire stake if he wants to receive the rewards.
The rewards take 10 weeks to fully vest starting from 10% vesting immediately. If a user unstake before the end of the 10 weeks, only the vested portion of the rewards can be withdrawn. The unvested rewards will go back to the pool as rewards for other staking participants. A user who has staked for more than 10 weeks will earn 10x rewards compared to someone who stake and unstake in the same day.

Q4: I have read that Meter is suitable for interoperability with Polkadot, Cosmos and many other blockchains. Can you tell us about the advantage that Meter can be used as a sidechain to enable value interaction?

Xiaohan: We recently announced partnership with Moonbeam/Moonriver. Meter Passport will be the official asset bridge for their parachains. The asset bridge will be live in the next 1 to 2 weeks. https://cointelegraph.com/press-releases/meter-passport-bridge-deploys-on-moonriver-with-moonbeam-deployment

Cointelegraph (https://cointelegraph.com/press-releases/meter-passport-bridge-deploys-on-moonriver-with-moonbeam-deployment)

Meter will be one of the major gateways into the Polkadot ecosystem.

It benefits Meter’s design concept that Meter will be able to connect to other blockchains as layer 2 solution. It at the end become a high performance and scalable router that allow smart contracts to move and communicate across major blockchains

Q5: Since Meter connects to multiple chains, VoltSwap have the exchange capability to swap assets from different chains to facilitate cross-chain arbitrage and incorporation of multiple exchange chains without KYC restrictions? How does VoltSwap work in this regard?

Xiaohan: Since Meter Passport connects to multiple chains, VoltSwap provides the swap capability for swapping assets from different chains to facilitate cross chain arbitrage and onboarding various exchange chains without KYC restrictions. For example, VoltSwap will have trading pairs between USDT from Ethereum and BUSD from BSC. BNB from BSC vs ETH from Ethereum

These will help users to trade cross chain assets and facilitate better price discovery

Telegram Live AMA Begin:

Q6: Can you share your fundraising situation and how your private and public offering tokens are distributed? And what are the plans for the next IEO? What should we prepare if we want to participate?

Xiaohan: There is no public/private sale for $VOLT token. Everything will be mined/air dropped. However we may seed a small liquidity pool for $VOLT/$MTRG at launch to reduce volatility. This will subject to community governance vote

Q7: Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?

Xiaohan: Yes, there will be extinction pools on VoltSwap to facilitate cross liquidity mining with other projects. This will remove $VOLT tokens from the market

Q8: which chain are you using for your native token and do you plan integrate to bsc,polkadot in the future?

Xiaohan: Meter Passport is already integrated with BSC, Polkadot integration with MoonRiver will likely come next week

Q9: where can i buy token? Will it be less expensive or more expensive?

Xiaohan: VOLT tokens are launching on Sept 9th. $MTRG/$MTR tokens can be obtained from the exchanges listed here: https://meter.io/getcoins

Q10: Can you share your fundraising situation and how your private and public offering tokens are distributed? And what are the plans for the next IEO? What should we prepare if we want to participate?

Xiaohan: $VOLT token will be mined. The best way to engage is to participate. There will be some risk free trading pairs like (BUSD from BSC to USDT from ETH). If you are risk tolerance is low. We will also have a small $MTRG single token pool for earning $VOLT for a short period of time

Q11: What is the relationship with Meter and VoltSwap? How they connected to each other?

Do I need to complete KYC to use your swap platform?

Xiaohan: Meter’s relationship with VoltSwap is similar to BSC with Pancake and Polygon with QuickSwap. There is no KYC required for on/off boarding

Q12: What is the reason why the meter system consists of two coins?
What are the differences between MTR and MTRG and can you tell us the advantages it will provide for Meter users?

Xiaohan: $MTR is a metastable token for gas and payments. You should not expect your everyday payment tokens to have too high volatility. It is uncapped and miners will create more when the price is too high. $MTRG token is for investments and moon.

Q13: What is the maximum supply of the token? Can you share the tokenomics structure with us? How many tokens will be vested and locked by the team/investors?

Xiaohan: There are 100M VOLT to be mined in the next 4 years. No investors/team tokens. Everything belongs to the community and the community decides how to use them

Q14: 1-As Voltswap is a Layer 2 swap,
I see that there is an ERC721 NFT contract -based smart wallet for every users,
What is the main motive of this smart wallet on Platform?
Please elaborate on this?

2-Could you tell more about the Cross chain Meter Passport?
How is it helpful?

Xiaohan: In all existing swaps, users have to deposit their LP tokens into staking contracts for liquidity mining. The owner of the staking contracts typically has admin rights to the contract and the capability of stealing users’ funds. The risk becomes higher for projects run by anonymous teams. In addition, such a design limits users’ capability to participate in multiple liquidity mining programs when they are available at the same time. VoltSwap creates an ERC721 NFT contract-based smart wallet for each user. Only the user has access to the wallet. The user could subscribe to as many liquidity mining programs as he wants and the tokens never have to leave the wallet. This smart wallet design will become the standard for liquidity mining on the Meter network.

Q15: 📌Can you tell us more about the “Meter Passport” that the meter will have? What is the Passport Meter’s effectiveness on your platform? What are the advantages? Also, are there any rules or regulations that the user must follow in order to use this passport?

📌Is a staking program supported by your project? If so, please explain how your stake system works. What are the prerequisites for users who want to invest in your platform? Do you intend to burn tokens in order to raise token value and attract investors?

Xiaohan: MeterPassport is a high performance blockchain router that allow assets transfer and smart contract communications across blockchains. It is secured by 5 top service providers as realyers. We used similar architecture for Avalanche Ethereum Bridge and the top TVL was more than $300M at the time. It will also be used by the Moonbeam team as their official asset bridge to other blockchains

Q16: Can you explain one by one why there is 4 different tokens in the whole ecosystem? What is the utility and use-case of MTR, MTRG, eMTRG and $VOLT?

Xiaohan: $MTR is the gas token on meter mainnet, $MTRG is governance token for Meter blockchain. eMTRG is wrapped MTRG on Ethereum. $VOLT is the governance token for VoltSwap, which is completely community driven

Q17: I was able to read that they require that the stake have a minimum time of 10 weeks of blocking of assets, but could you really explain why? And in case I do not meet that time, I will not get any reward?

Xiaohan: You will always get reward no matter how long you stake. However the longer time you stake the more reward you get. The rewards take 10 weeks to fully vest starting from 10% vesting immediately. If a user unstake before the end of the 10 weeks, only the vested portion of the rewards can be withdrawn. The unvested rewards will go back to the pool as rewards for other staking participants. A user who has staked for more than 10 weeks will earn 10x rewards compared to someone who stake and unstake in the same day.

Q18: How makes you so enough Security Measures in VoltSwap

💢How can you grow “TRUST” about wallet in customer’s mind?
How do you manage your platform for prevent from cyber attacks and hackers?

Xiaohan: VoltSwap uses an unmodified version of Uniswap V2, which is battle ground tested. The staking NFT wallet contract was a collaborative work with ampleforth and is fully audited

Q19: I don’t find any exact information on how can I mine $VOLT token. Kindly give me the link where I can get full information about $VOLT token?

Xiaohan: https://docs.voltswap.finance https://voltswap.finance Mining will be online on Sept 9th

Q20: Can you talk about the various flaws in the existing Cryptocurrency which Meter targets to solve
and provide users with highly-decentralized, high-performance EVM compatible side chain for Ethereum and other public chains ?

Xiaohan: Here is a comparison of various layer2 on the market. We believe a decentralized side chain approach is the most user friendly

Q21: Meterswap has anti-bot resistant infrastructure where no bots can take advantages of our bug orders. Can you explain in more details how does this function actually works?

Xiaohan: In addition to the lightning-fast and low gas cost transactions on Meter. DEXes built on Meter is also front running resistant. The network charges a minimum gas price. Transactions that meet the gas price requirement are ordered based on the time the network receives them instead of the gas prices. With more than 110 validator nodes on Meter, Meter is the most decentralized and fastest Ethereum layer 2 side chain. VoltSwap is both censorship and front running resistant yet fully transparent as the original Ethereum.

Q22: You mention in the AMA today is that we need some $MTR token to use VoltSwap. Then what is the need of $VOLT token in the ecosystem? What kinds of operation/utility do $VOLT has within the ecosystem?

Xiaohan: $MTR is the gas token for sending transactions on Meter blockchain. You will just need a few of them

Q23: How does Meter Aims to lower the cost of its Cross-Chain Infrastructure?
I saw that You are also looking to develop Cross-chain synthetic assests,
Can You tell more about it?

Xiaohan: We are going to release a new threshold signature based solution which is more decentralized and cheaper to use

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