Slope x 1Sol AMA Recap
On Dec 18th, Slope Finance was delighted to invite 1Sol Co-founder & CEO Tintin to have an AMA in Slope Discord.
Section 1- Introduction
Q: Can you introduce yourself and 1Sol to Slope Community?
A: Sure, I am Tintin, co-founder & CEO of 1Sol Protocol. I have always been an active investor in crypto, partaking in BTC mining since 2013. And I was a community developer on ETH and EOS. I am a Computer Science graduate myself and started founding tech companies 10 years ago.
1Sol Protocol is a cross-chain DEX aggregator for decentralized protocols on Solana, enabling the most seamless, efficient, and protected operations in DeFi. With DeFi infrastructure rapidly growing, aggregators in high demand, cross-chain transactions being the future, 1Sol is born to bring together liquidity from both DeFi and CeFi (swaps, orderbook DEX(s), OTC, etc.) for multi-chains.
Section 2 — AMA Content
Q: Compared with traditional single-chain DEX aggregators, what are the difficulties in the operation of 1SOL? What are its advantages?
A: From my point of view, the biggest advantage of 1Sol is that it can gather the best prices from multiple chains and help users purchase assets from different platforms.
1Sol.io aims at serving as the go-to trading portal for trading on Solana by ensuring a seamless, efficient, and secure trading experience. Each user will be provided with a full package of information on prices, slippage, and costs of all DEXs to pinpoint the most cost-effective deal based on cross-chain aggregation, and 1Sol builds on the development work of DEXs and aggregators that came before and leverages new multi-chain network architecture to pool liquidity.
Q: Compared to Ethereum, transactions on Solana have lower fees, but there is still a gap in liquidity. In what ways do you plan to increase liquidity?
A: Well,1sol brings together the liquidity of top DEXes on Solana, which is a liquidity collection. More DEX platforms will increase the liquidity on 1sol in the future. We have cooperated with Solana’s official wormhole bridge to provide a guarantee for multi-chain liquidity aggregation.
Q: Token application is what users care about most. 1Sol each have its own native tokens, what is the purpose of this native token and how will the holder participate in the project ecosystem?
A: The native token of 1Sol Protocol is 1SOL, which will be distributed on Ethereum at the first stage. After the main net is launched on Solana, the bridge between Ethereum and Solana will enable its cross-chain feature in near future.
The utility token 1SOL will incentivize governance participation, secure funds for ecosystem development, and stake security by serving network needs. And participation in Cross-Chain liquidity protocol governance will be highly rewarded.
Farming: 1Sol token liquidity pools and yield farming features
Discount: Decreasing transaction fees and cross-chain loss
Governance: Voting for swaps and markets to be aggregated or terminated
By combining the parts splitting and pathfinding algorithms, 1SOL can save users a lot of money. 1Sol will share the savings with the users, the exact percentage and sharing scheme will be decided by 1SOL token holders through voting.
Q: Can you talk about the current cross-chain status for your projects? What development stage are we currently in? What problems are you solving?
A: Yeah, Cross-chain is currently in a state of vigorous development. The main directions are centralization and decentralization. There are some projects explored in both directions, and the security and timeliness are gradually increasing. The core problem we need to solve is asset prices change with time in the cross-chain process, which causes the user’s investment cost to fluctuate. Our main solution is to perform main calculations and transactions on the faster chain and follow the calculation results on the slower chain to trade to maximize the avoidance of user asset losses caused by time latency.
Q: DEX aggregator is a practical product for users. How does 1SOL achieve the most beneficial and efficient transaction for users?
That’s a good question. 1Sol has the ability to find the most cost-efficient pathway among different DEXs. Optimizing slippage, swapping fees and token prices, and executing trade orders automatically, helps users carry out more possibly profitable tradings.
And 1Sol is more efficient than any manual checking, and it enables complex trading routes and pathways with lower gas fees spent on Solana. Leveraging 1Sol Smart Calculator based on the enhanced Dijkstra algorithm, the best swapping path is mapped out among multiple swaps, DeFi/CeFi and OTC markets.
Q: Do you have any specific developments or plans for the near future that you would like to share with us?
A: 1Sol is already listed on Huobi and Bybit right now. In the long run, 1Sol aims to be the fastest and most comprehensive DeFi aggregator in the marketplace, think about the gas fee & speed on ETH and that on Solana, we are working on Lending Protocol aggregation, CeFi aggregation, the cross-chain feature now, these are to be expected for all of the users in 2022.
We will plan and organize different activities at different stages. I suggest community members should pay attention to the news we release in time on social and participate actively, wish you guys always have the BEST PRICE on Solana with 1Sol together!
This is our roadmap:
2021 Q4: Launch mainnet, Integrate with top swaps, deploy cross-chain aggregators on ETH, Polkadot, etc.;
2022 Q1: Extend to multi-swaps, upgrade to v2 algorithm, cross-chain liquidity & bridge.
2022 Q2 Lending protocols aggregating. Yield farming aggregating. NFT all-in-one markets.
2022 Q3 Cross-chain trading with Ethereum/BSC/Polygon. OTC and Cefi markets support.
2022 Q4 Easy-configured automated trading bot deployment for professional traders.
2023 Q1 Cross-chain assets lending aggregating.
Keep following our social media for more news:
[Website] https://1sol.io
[GitHub] https://github.com/1sol-io
[Twitter] https://twitter.com/1solProtocol
[Telegram] http://t.me/onesolcommunity
[Deck] https://file.1sol.io/static/1Sol%20Protocol%20Pitch%20Deck%20v0.7.pdf
Section 3 — Community Quiz
1. Which one Investor is not 1Sol early supporter? (D)
A.Solana Ventures
B. NGC Ventures
C. Bitscale Capital
D. Alameda Ventures
2. What is the third step in 1Sol work process? (C)
A.Initialize accounts
B. Smart Calculator
C. Swap
D, Return to you
3. What centralized Exchange can users trade $1SOL? (A)
A. Huobi and Bybit
B. Houbi and Binance
C. Binance and Bybit
D. Huobi and Coinbase
4. Which DEX did 1Sol partner within Solana Eco recently? (B)
A. Slope DEX
B. Orca
C. Serum
D. Raydium
5. What did 1Sol collaborate with Solana Official to provide more liquidity? (A)
A. Wormhole bridge
B. Liquidity
C.Community expanding
D. Cross-chain technology
6. Which one is not the purpose of the 1sol native token？ (D)
A. Governance participation
B. Secure funds for ecosystem development
C. Stake for security by serving network needs
D. Only for trading
About 1Sol
1Sol Protocol is a cross-chain DEX aggregator for decentralized protocols on Solana, enabling the most seamless, efficient, and protected operations in DeFi. With DeFi infrastructure rapidly growing, aggregators in high demand, cross-chain transactions being the future, 1Sol is born to bring together liquidity from both DeFi and CeFi (swaps, orderbook DEX(s), OTC, etc.) for multi-chains.
