AMARush Recap: StormSwap Finance

Avaxholic | #1 Source for Everything Avalanche

6 min readSep 9, 2021

In order to connect Avaxholics with Avalanche-based projects, Avaxholic honorably represents AMA Rush Campaign. This is a big chance for Avaxholics to directly interact with and understand deeper about Avalanche projects, whether top tier projects or newcomers. For the third AMA, we’re proud to have StormSwap Finance — a newcomer in Avalanche as our guest.

“Avaxholic — together we BUIDL”. Besides updating news, we’re upgrading more about data analytics — real time data and research about projects to help investors always be confident when investing in the Avalanche Ecosystem.

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AMArush Campaign: The third guest — StormSwap Finance — *AMARush Campaign: The third guest — StormSwap Finance*

Avaxholic: We’re proud to be one of the biggest Avalanche Ecosystem Community. Our discussion group has over 5000 investors in Avalanche. We always update the latest news for investors in Avalanche projects. We want Avaxholic to be the biggest community for anyone who joins Avalanche Ecosystem to have a freedom of speech to discuss with everyone.

We’re honored to welcome our guests today: Zoidberg and Zeus from StormSwap Finance.

Can you tell us a little bit about yourselves and StormSwap Finance team?

Zoidberg | StormSwap: Hi all, thanks for hosting us today

I am the project manager at StormSwap, I have a degree in business marketing & management and have been in stocks / crypto since 2016, my interest for yield farms picked up over the course of the lockdowns

We are an anonymous team. We have taken every other step to ensure the security of our protocol is top standard without KYC. Our devs have experience in defi space over a reasonably long period of time. Being anonymous helps us to focus more on the important stuff: product development, security, community development etc.

We are a core team of 6. 3 full time developers; a lead engineer, frontend dev, solidity dev, graphic designer, myself as the project manager and Zeus as our community manager.

Avaxholic: Thanks for your introduction! I believe it makes everyone more curious and excited about today’s AMA.

Now let’s jump into the most exciting part today!

1. StormSwap is a newcomer on Avalanche ecosystem. How do you distinguish yourself from other yield aggregator projects in general and Avalanche-based top tier projects such as Yield Yak, Beefy, Snowball in particular?

Zoidberg | StormSwap: At StormSwap, our bunker vaults are a little different to other protocols, it will be a community run vault where users are able to click the compound button for all users staked. This could be a really big feature for us as it means your rewards are able to constantly compound meaning more APY. Claimants will be rewarded some AVAX for compounding user rewards, this should help to incentivize users to keep the compounding train going

On top of this, we also offer waterfall dividend pools where users are able to stake our native token STORM to earn other favourable cryptocurrencies such as WAVAX, USDT.e, USDC.e etc

We are right now actually in the middle of a 3-day spree where we will be launching 3 new waterfall pools in 3 days, one new a day!

Avaxholic: Quality answer! I see on StormSwap you have Waterfalls, Lagoons, etc. I think everyone here now can understand more what makes StormSwap stand out from other competitors.

2. When it comes to yield farming, investors mostly care about profit. Why do you focus on providing a safe experience? And how do you guarantee that?

Zoidberg | StormSwap: Whether they mostly care about profit. No single user should blindly invest in a project without doing any research. Currently in DeFi, we are seeing many rug pulls and exploits and for us to deliver a safe experience, we wanted to make sure that our contracts are audited before launching. We made sure that any issues that were found in our code were resolved to give our investors peace of mind when investing in our protocol. On top of this, we have locked our liquidity with RugDoc and received a clean rating.

Zeus | StormSwap: For those that have not seen our audit or RugDoc review, you can view it below.

You can find our audit here: https://paladinsec.co/projects/stormswap-finance/

And our RugDoc review here: https://rugdoc.io/project/stormswap/

Avaxholic: As an investor, I’m really glad to hear that. With such vision, I believe StormSwap will grow strongly. You guys have achieved many milestones lately.

3. Talking about your milestones, congrats StormSwap on ranking #2 in Top Avalanche DeFi Apps on Dappradar. Can you explain incentives for this quick growth? What’s your next step?

Zoidberg | StormSwap: Thank you! We received a very well welcome to the Avalanche Network, we are thriving here. We did have some insanely quick growth for a project who started with no platform at all, we believe this comes down to good marketing strategies and a well thought out foundation with the security being our top priority, nowadays DeFi is a jungle full of rugs and we are happy to provide a safe and secure platform!

To incentivize users for our quick growth, we spoilt our investors with an early release of a dividends pool where they were able to stake STORM to earn WAVAX before farming was launched. We will be adding more pools over time using a percentage of withdrawal fees collected from non native staking & fees from our bunkers.

The next step is to launch our bunkers which brings a lot of new features including community auto compounding and a claimers reward as well as opening up for more burns and buy backs to strengthen our native token $STORM

Avaxholic: Nice to hear that! I think a good and clear strategy and roadmap are important factors to make investors understand the values and decide to invest in a project.

4. Liquidity Mining plays an important role in a DeFi project. What’s your Liquidity Mining Strategy to attract users?

Zoidberg | StormSwap: Providing liquidity helps to build our protocol. By providing liquidity, we are rewarding users with our native token STORM which can be used to stake and earn other tokens in our waterfall dividend pools, offering ways to earn a passive income and bring a ecosystem to our platform

Besides all the farms, we focused on rewarding our liquidity providers by having the best pool weights for our farms. As you can see in StormSwap, most of the rewards are distributed among lp providers. We are also in talks with Pangolin to add a liquidity mining pool in their farm where storm lp users will be rewarded PNG

Avaxholic: Nice! I believe that’s the answer everyone here is expecting to hear from you!

5. StormSwap Finance is building on Avalanche but Crosschain Yield Farming is trendy right now. Do you think one day, StormSwap will bridge to another chain?

Zoidberg | StormSwap: Right now, our focus is to build and become one of Avalanche top defi protocols. We want to attract users to come over to Avalanche with us and experience what we also experience which is a super-fast, reliable, and low-cost network which has room for huge growth potential. Once our protocol is fully developed, we may consider building cross chain but there is currently no current decision on that yet. Besides, who wants to anyway? The community over here is amazing and we feel supported in many ways!

We are aiming for that #1 spot!

Avaxholic: I see. So right now, you want to fully dedicate yourselves to Avalanche right? I hope everything will go well as planned and you’ll become an ever-growing protocol on Avalanche! Keep it up, StormSwap team!!

And that’s the top 5 questions. I hope that everyone here today has gained a deeper understanding about StormSwap. Thank you for spending your time with us today Zoidberg and Zeus. Very much appreciated. We’ll keep updating the latest news about StormSwap. Hope to hear great news from you!

Zoidberg | StormSwap: We are here to stay! The storm is too strong to give up!

We would like to make a little announcement here as well. We notice that you guys at Avaxholic are very into graphic design as well, we love that stuff as well! We would love to see some great memes come out from the Avalanche community

We will be hosting a meme competition with some very nice prizes, be on the lookout at our Twitter for the announcement and more details: https://twitter.com/StormSwap_Fi.

Thanks for hosting us today.

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AMARush Recap: StormSwap Finance

Written by Avaxholic | #1 Source for Everything Avalanche