LAVAswap X DATT Community AMA Full Review

LAVAswap Introduction:

LAVAswap is one of the first interoperable decentralized cross-chain exchange protocols driven by the Huobi ecosystem. IHO replicates the technology and customer resources of leading BSC, ETH and DOT projects for HECO, and is committed to building a new community-oriented decentralized cross-chain exchange protocol.

Official website: www.lavaswap.com

DATT Introduction:

DATT is a decentralized digital asset trusted service network that builds a unified infrastructure for value interconnection, value circulation, and value growth among Internet applications, empowering the traditional Internet. Through the NerveNetwork cross-chain, it can currently be circulated on multiple public chain mainnets including Ethereum/BSC/Heco/NULS/Nerve.

Official website: www.datt.one

The following is the AMA transcript:

Question 1: First, please ask the two guests to briefly introduce themselves and their respective projects.

Fei Er: Hello everyone, I am Fei Er from DATT. I am very honored to be here to talk about blockchain and our DATT project with you all. Thank you LAVA, thank you everyone.

DATT (Digital Assets Trust Token) is a decentralized digital asset trusted service network. It builds a bridge between the Internet and blockchain, based on a unified "digital identity" to achieve the free flow of value; it uses cross-chain, DeFi, distributed storage and other basic functions as a fulcrum to support the Internet ecology; it strongly guides the blockchain and introduces Internet traffic and users to the blockchain industry.

DATT's goal is to lower the threshold from the Internet platform to the blockchain field. By building a universal blockchain underlying protocol, Internet products can be easily connected to the blockchain platform, lowering the user learning threshold, allowing Internet users to participate in the blockchain field more easily, enriching the blockchain ecology and users, and prospering the industry.

Mia : Hello everyone, I am Mia, the brand ambassador of LAVAswap. I graduated from the University of Toronto in Canada with a major in Finance + Actuarial Science. I am an early evangelist in the blockchain industry. I have invested in and promoted many high-quality blockchain projects. I have been deeply involved in the industry for many years and have accumulated rich industry experience. I have accurate insight and judgment capabilities in the crypto market. I serve as the brand ambassador of LAVAswap this time because the DEX platform is about to become the next outlet of the crypto market, and the economic ecological model of LAVAswap will become the vane of the future development direction of DEX. Therefore, I pay great attention to and am optimistic about the future of LAVAswap.

LAVAswap is one of the first interoperable decentralized cross-chain exchange protocols driven by Huobi Ecosystem

LAVAswap breaks through the traditional model of blockchain to create an innovative decentralized DeFi model. IHO quickly integrates new technologies into the old system, replicates the technology and customer resources of leading BSC, ETH and DOT projects for HECO, and the cross-chain protocol realizes the integrated application of seamless interoperability between chains. With a fair and just DAO governance model, world-leading community resources and services, a multi-dimensional ecological layout and top-level security audits, LAVAswap is committed to building a new community-oriented decentralized cross-chain exchange protocol.

Question 2: Can you introduce the products currently launched on DATT and LAVAswap?

Fei'er: DATT is a public chain that builds the infrastructure from the Internet to the blockchain, allowing Internet platforms or products to be more easily connected to the blockchain network. Combined with the characteristics of the Internet, DATT's planned product functions include: cross-chain (connecting Internet assets and blockchain assets), Defi (Internet asset mortgage, copyright pledge, traffic pledge, digital currency mortgage), decentralized storage, DEX, contract incubation and other major product functions. We have already negotiated an Internet platform and will conduct a pilot on this platform. We will soon see the implementation, and we will tell you as soon as there is further news.

Mia : LAVAswap recently launched the DAO governance model iLAVA to explore and experiment with the most accurate decentralized autonomous model of blockchain protocols. iLAVA is the voucher model of the LAVAswap DAO governance model and an important part of LAVA's DAO system. Holders of iLAVA will enjoy staking rewards and other community rights, be able to participate in platform governance, and gradually achieve complete decentralization of the platform. iLAVA can be understood as a LAVA membership system under a "smart contract" agreement, established for loyal LAVA holders. iLAVA holders can use their tokens to vote on governance proposals regarding protocol changes and upgrades.

At the same time, LAVAswap liquidity pool launched the Promotion trading pair. LAVAswap's key recommended trading pairs will be gradually delivered to iLAVA holders to propose and vote for the final decision. This will greatly enhance the community governance power of iLAVA holders, and LAVAswap will further achieve the goal of fully decentralized DAO governance.

LAVAswap.com has launched more than 90 staking lossless mining pools and liquidity pools to meet the different needs of different users.

Question 3: From a product perspective, could you please give us a detailed introduction to the core competitive advantages of DATT and LAVAswap?

Fei Er: Although the current blockchain industry is booming, it does face some challenges, such as the implementation of Internet applications, which is also an inevitable form of the future development of the blockchain industry. As technology and the industry mature, we have found the key to cracking the implementation of Internet applications on the blockchain. DATT will focus on the implementation of Internet applications on the blockchain and is committed to truly promoting the integration of the two networks.

1. Digital identity: Building a unified user "digital identity" is the foundation of the digital economy era. DATT takes the construction of a unified "digital identity" as the core, realizes the penetration of the Internet and blockchain, and lays a solid foundation for the free circulation and exchange of digital assets between the Internet and blockchain.

2. Cross-chain: DATT breaks through the closed boundaries of Internet application systems and promotes the expansion of blockchain ecological space, improves asset liquidity, and solves the performance bottleneck of a single blockchain system. DATT's cross-chain will achieve the true integration of the Internet and blockchain, which is the foundation for building an integrated ecology of the Internet and blockchain and a higher level of comprehensive industrial upgrading.

3. Decentralized storage : With the rapid development of the Internet, data has also grown exponentially. The storage of massive data has brought huge security risks to local storage. DATT connects Internet application data with decentralized storage, which not only guarantees the ownership of user data, but also promotes the prosperity of the digital economy era.

Mia : As DeFi develops further, interoperability and openness to emerging ecosystems such as HECO will enable more mainstream adoption. DeFi has gamified decentralized finance. Any business or person, big or small, can participate. This is exactly what we are doing at LAVAswap: creating simple and fun products and making them more accessible to ordinary consumers.

A simple and easy-to-use terminal product is the entire premise of DeFi, and we will achieve it together with HECO. We believe that DeFi should be fun and easy to use for everyone, and with the help of HECO, we will achieve this goal.

And LAVA's cross-chain bridge will be open to the entire crypto world's asset gameplay. LAVASwap will efficiently link many assets such as NFT and DeFi to achieve barrier-free and efficient circulation of all cryptocurrencies.

Most DEXs consider the development of local chains, while LAVASwap strives to shape a panoramic ecosystem of the blockchain industry with a higher level pattern. LAVAswap will become the most suitable application for DEX in the future.

Question 4: Could you two tell us what your future development goals and plans are?

Fei Er: The biggest innovation and highlight of DATT is that it has jumped out of the internal cycle of the small circle of blockchain and is oriented towards Internet applications. It will inject a massive user base into the blockchain and provide the Internet with asset operations and monetization methods based on cross-chain and DeFi. Only when combined with the actual economy such as the Internet, value can flow from the source and truly achieve sustainable value growth.

We have been expanding network cooperation and attracting Internet users, such as the lifestyle website "Dangdao", as well as the food and entertainment categories under negotiation. The DATT ecosystem will also derive more valuable products in the future. Focusing on the core of "value", using Token as a tool, we will innovate and derive more and richer functions, so that users can achieve the maximum spillover benefits, guide users to sink, and finally achieve a seamless integration of the Internet and blockchain.

The core goal of the DATT project is to introduce and implement Internet applications, which are the "real economy" in the blockchain field. Compared with the current blockchain field, the capacity of the Internet application real economy is several orders of magnitude larger. At present, DATT has negotiated cooperation with several other ecosystems. As the main network is launched and stabilized, other ecosystems will be gradually connected, and the 100-ecosystem plan will also be launched one after another.

Mia : Cross-chain bridge: LAVAswap is deploying a cross-chain bridge, which will connect different assets on different chains, making it easier for users to access new assets and innovative functions, and realizing integrated applications with seamless interoperability between chains.

The first phase of the cross-chain bridge of LAVAswap, which is about to be launched, will support asset conversions on three chains: Huobi Ecosystem Chain (HECO), Binance Smart Chain (BSC) and Ethereum, including mutual conversions between HECO-Ethereum, BSC-Ethereum and HECO-BSC.

iLAVA : LAVAswap will build a completely decentralized DAO governance ecosystem through the iLAVA membership model. The platform will gradually launch iLAVA's voting and DAO governance mechanisms, and will continue to expand iLAVA's ecological model to empower iLAVA holders with greater governance rights.

Mining pool: We will continue to provide mature token liquidity mining pools (LP) to the HECO ecosystem. At the same time, we will continue to improve our farming pools with new, smarter, and cheaper experiences to bring you a better user experience.

Question 5: "Digital identity", "decentralized storage" and "cross-chain" are all hot topics at the moment. Combined with "building a bridge between the Internet and blockchain", how does DATT lead the blockchain?

Fei Er: Looking at the current Internet industry, whether it is point rewards or copyright acquisition, it is a static method, which either harms the interests of users or incurs more costs. It is difficult to achieve an appropriate balance between user benefits and costs. The DATT project focuses on introducing traditional Internet applications into the blockchain, focusing on "value", achieving the complementarity and integration between blockchain and Internet applications, and realizing the empowerment of Internet applications by blockchain. With the support of blockchain technology, the cost of applications can basically be determined by the user group or the real needs of the market. It is easy to achieve a dynamic balance between user benefits (stickiness) and costs, and achieve an optimal way.

DATT aggregates users through the eco-wallet to achieve the ultimate user sinking. The eco-wallet is an essential tool for DATT users to manage eco-assets, and it is also a gathering place for all eco-users. Users can manage their DATT and eco-assets in the wallet, and can also obtain token rewards through tasks and behaviors. Eco-partners can use the eco-wallet to provide various types of activities to introduce high-quality users to their own ecosystems, and ultimately achieve eco-user sharing and achieve ecological prosperity. DATT wallet realizes three-dimensional operations such as comprehensive asset management, application portals, and community marketing after the integration of the two networks from several core dimensions such as assets, applications, community games and activities.

DATT ecological partners are well-developed platforms on the Internet. Through cooperation with ecological partners, we can share advertising resources, making advertising spaces more competitive and scarce, thereby increasing advertising revenue. Ecological partners will also give back part of the advertising revenue to users, and the feedback is not limited to repurchasing DATT.

Any advertiser who needs to promote can directly purchase the advertising space of ecological partners through the DATT platform, thereby creating advertising revenue for DATT. All DATT revenue will be used for Token repurchase, further ensuring the scarcity of DATT.

Question 6: LAVASWAP has just launched the DAO governance model iLAVA, with the goal of creating a completely decentralized governance model. Can you introduce iLAVA to everyone? What good news can the DAO governance model bring to community users?

Mia: The DAO governance model is an important trend in the future development of the crypto market. Some projects have already begun to test DAO governance. LAVAswap believes that the decentralized autonomous model of DAO can represent the future of the blockchain industry, so it has laid out the development of the DAO governance ecosystem early on.

LAVAswap launched the DAO governance model iLAVA to explore and experiment with the most accurate decentralized autonomous model of blockchain protocols.

The launch of the DAO governance model is one of the important milestones in LAVAswap's exploration of blockchain value. iLAVA can be understood as a LAVA membership system under a "smart contract" agreement, established for LAVA's loyal currency holders. LAVAswap will allocate 10% of the tokens to the DAO governance system to reward long-term platform contributors and DAO model contributors. Users are given the right to propose and vote for governance, as well as more membership rewards and rights. Let every community member participate fairly in the construction of the LAVAswap network ecosystem.

iLAVA was officially launched on April 21st, and the rewards for the first 30 days of its launch were doubled: total daily rewards = 8000 x 2 = 16000 LAVA/day! If you are interested in the DAO governance model and want to build a truly decentralized governance platform with LAVAswap, iLAVA is your best platform to showcase your skills.

iLAVA in-depth analysis and tutorials: https://www.yuque.com/lavaswap/zvuf5x/nqealg

Question 7: What new opportunities and possibilities will the combination of DATT and LAVAswap bring to both? How to play the liquidity mining of DATT and LAVA ?

Fei'er: Liquidity mining is also a hot topic nowadays. DATT has cooperated with LAVAswap. After the DATT staking mining pool ended on April 23, it also launched liquidity mining for two trading pairs:

Stake DATT-NULS-LP and get LAVA;

Pledge DATT- USDT - LP to get LAVA;

DATT can now be circulated on multiple public chain mainnets such as Ethereum/BSC/Heco/NULS/Nerve through NerveNetwork cross-chain. The assets of subsequent Internet cooperation projects based on DATT will also be diverted to LAVAswap to achieve integration.

Mia : We are also very happy to work with DATT. In the future, we hope to continue to explore cooperation with DATT in more aspects, including community interaction, to further achieve a win-win cooperation between the two parties.

Question 8: What do you think will be the biggest challenge in your respective fields in the future? How can you successfully break through?

Fei Er: We view decentralized blockchain and centralized Internet as equals, which is a binary opposition. It is a practice of replacing one technology with another. This cognition is a huge misunderstanding. In essence, from the development history of blockchain, blockchain is first a set of innovative technical systems and a decentralized governance system around value to achieve independent token issuance. Based on currency, a decentralized capital and financial operation system represented by DeFi has been developed. Blockchain has gone through more than 10 years of history. It is not difficult to see that blockchain is a technical system with value as the core and developed around value, while the Internet is a technical system with the realization of functional requirements as the core and developed around the performance experience of functions. Blockchain and the Internet are not essentially a binary opposition relationship, but technical systems in different dimensions. Therefore, it is bound to be a wrong choice to rebuild Internet applications by replacing the Internet with blockchain.

Therefore, how to integrate the "value" core of blockchain with the "function" of the Internet is the first problem that needs to be solved in order to introduce massive traffic from Internet applications into the blockchain.

Based on the above cognition, DATT is centered on "value", starting from the interests of users, focusing on the realization of value, distinguishing and using tokens appropriately, and better promoting the application of blockchain on the Internet. In the future, the tokens issued by DAPP based on DATT will mainly represent equity shares, truly realize decentralized and community-operated applications, and the value of tokens will be determined by the value created by the application, rather than by investment and speculation as it is today, thus gradually changing from chasing the price of tokens to pursuing the growth of tokens.

Mia: The rapid development of DeFi has also driven the development of DEX, but most of the current DEXs are too dependent on ETH, resulting in high ETH transaction fees and long transaction times. We think the ETH network is great, but DeFi does not belong to just one chain. It should be available to everyone. We see that the HECO ecosystem is expanding rapidly. DeFi has attracted a lot of attention, and the demand for it will only get stronger. We don't think the ETH network will be the only supplier, so having a strong and powerful brand like Huobi will be of great help to the HECO ecosystem.

As DeFi further develops, interoperability and openness to emerging ecosystems like HECO will enable more mainstream adoption. DeFi has gamified decentralized finance. Any business or person, big or small, can participate. This is exactly what we at LAVAswap are doing: creating simple and fun products and making them more accessible to ordinary consumers. A simple and easy-to-use end product is the entire premise of DeFi, and we will achieve it with HECO. We believe that DeFi should be fun and easy to use for everyone, and with the help of HECO, we will achieve this goal.

And LAVA's cross-chain bridge will be open to the asset gameplay of the entire crypto world. LAVASwap will efficiently link many assets such as NFT and DeFi to achieve barrier-free and efficient circulation of all cryptocurrencies. Most DEXs consider the development of local chains, while LAVASwap strives to create a panoramic ecosystem of the blockchain industry with a higher level. LAVAswap will become the most suitable application for DEX in the future.

Question 9: In your opinion, can DeFi enter the mainstream financial industry's field of vision, and what driving force will it bring to the transformation of the traditional financial industry?

Fei Er: In my opinion, DeFi is the second stage of blockchain development - a representative of typical technologies and applications in the financial era. As an infrastructure for application ecology and value ecology, DeFi maximizes its financial functions, connects applications, users and developers with finance, promotes entrepreneurship and innovation, and provides growth and income opportunities for application ecology and value ecology. Any new thing has its bubble period and maturity period. Now DeFi is very popular because DeFi is in its relatively initial stage and has received excessive attention. A large amount of investment has also entered this field, which has further promoted the rapid development and maturity of DeFi.

Mia : DeFi emerged in early 2019. So far, I think DeFi is still in its early stages of development, but it has already formed an industry trend. The emergence of DeFi also has certain inspirations and lessons for traditional finance. DeFi solves some pain points of traditional finance and is an innovation of the financial system. For example: decentralization, no need for expensive middlemen; no need for permission and trust; peer-to-peer services, higher efficiency, etc.

The emergence and innovation of DeFi has enabled many businesses that traditional financial services cannot carry out, while serving customers that traditional finance cannot serve. Not only that, DeFi has also improved the global financial infrastructure, allowing everyone to participate fairly through simple and transparent rules.

The purpose of DeFi and traditional finance is to serve the financial industry. As the industry develops, I believe the entire ecosystem will continue to improve over time.

Question 10: Can you two talk about the current status of the crypto market? Are there any areas that need improvement?

Fei Er: The current crypto market is developing rapidly, sweeping all walks of life in a flash. With the successful breakthrough of NFT, more and more mainstream artists are binding their works with NFT. The discovery and tokenization of artistic value will inevitably lead to the Matthew effect in part of the market and the rise of emerging intermediaries, as well as the financialization of the art collection market by blockchain. The adhesion and mutual catalysis between the two will inevitably lead to the pursuit of scarcity and the catalytic effect on the replica market. The development of NFT will expand and open up a huge market. However, the application field of NFT is still relatively single, concentrated in small circles such as games, crypto art, and card collections. Large-scale application has not yet been realized, and NFT has typical problems of early products in the crypto world, such as easy to generate bubbles.

Mia : Today, the world is gradually getting rid of the era of cash use, and the crypto industry is also booming and growing. The current outbreak of DeFi, the entry of institutions, and the enhancement of blockchain technology have led to continued rapid growth in the crypto field.

Still, the crypto industry is a small part of the capital market, and it is only used by crypto enthusiasts in developed countries. The UI problem is one of the biggest pain points of DeFi. The user experience needs to be greatly improved so that non-crypto laymen can use it from the "user interface" and "necessary entry knowledge" level. At the same time, regulatory pressure is still an obstacle, and the security of users' funds needs to be better improved.

We would like to thank the following media for their strong support for this event!