agriimony
commented
3 years ago JBe Mar 9
Why Binance Smart Chain. What is the rational over other technologies like Matic (Polygon), xDai, SKALE?
Also curious if AST holders will have to stake to a pool on BSC to claim those rewards. If so, AST holders need to be aware of the risks they take in staking with that pool. Does anyone know who is running validators for the BSC? When/if it goes up in smoke I am not voting to bail out the AST/BSC stakers.
I get the feeling that Binance is a distraction.
VladislavW Mar 10
How do AirSwap Contract replication increases the trading volume and generated fees amount?
It’s quite simple. We just let the users of BSC to swap their tokens through the AirSwap RFQ exchange (what is also a good marketing move as was said because there is no any RFQ DEXes still on BSC) and generate additional fees for all AST stakers. That could be achieved by cooperation with 1inch on BSC or similar aggregators. We can also try to discuss the opportunity of implementing MetaMask Swaps on BSC with MetaMask team since AirSwap, Activate and MetaMask are affiliated.
Why not huobichain?
I don’t think that huobichain is more popular than BSC. Maybe it is popular in Asia (haven’t done any research of that yet) but i think we could start from BSC and if it works, we can also move to huobichain too.
How do i see the staking and claiming process with BSC? Do we have to stake on BSC etc.?
I see it in the next way. All staking and claiming process is still on Ethereum network and stays the same. All fees generated in BSC are accumulated in the pool contract deployed in BSC. Stakers just need to choose the BSC network in MetaMask extension on the Activate AirSwap governance page Activate - Buy, use and manage utility tokens 4 and claim as usual to their wallet in BSC.
Does it brings any additional risks or disadvantages to the current product deployed in Ethereum Mainnet?
I don’t thinks so. In fact that would be two separated products under the AirSwap brand that are working in Ethereum and BSC networks. Smart Contracts code should be just forked because of BSC supports EVM and should not have any vulnerabilities.ktrancoin Mar 10
I wonder the same, why not Matic first, its so popular now?
Summary
Goal is to increase trading volume on AirSwap. The proposal is to make replication of the AirSwap exchange functionality to the Binance Smart Chain (BSC ) to get additional trading volume and swap fees. A correct implementation should result to increase generated fees amount by enabling BSC users of MetaMask (or any similar aggregator like 1inch) swaps to exchange their assets through AirSwap Smart Contracts deployed in BSC.
Specification
All AirSwap Smart Contracts can be replicated to the BSC without any additions because of BSC compatibility with Ethereum network. Claiming mechanics doesn't need any additions to implement it. Users that have points received from voting would just need to chose the network at MetaMask extension they want to connect and claim. That could be implemented in activate portal at governance section.
Rationale
We could increase the total income of all current AirSwap stakers and have the opportunity to attract new users to AirSwap governance functionality.
Also it is a good option for smaller stakers to claim their rewards from BSC pools because of BSC network fees cheap cost (a few cents per transaction).
Problems
MetaMask doesn't support swaps in BSC but maybe the AirSwap team can contribute to implement it in MetaMask. We can also try to cooperate with 1inch (that is now live in BSC) or similar aggregators.
Credits
Thanks to Don, BrDreamin83, 2x, aaaaaaaaaa and Lasse for their contributions to this AIP
Copyright — All proposals are public domain via CC0.