AMARush Recap: Swift Finance

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 Swift 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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Avaxholic: We’re proud to be one of the biggest Avalanche Ecosystem Community. “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 Avalanche Ecosystem.

Our guest today is Timothy | Marketing Lead from Swift Finance. Could you tell us a little bit about you and Swift Finance team?

Timothy | Marketing Lead: Hey everyone!

It’s Tim here from Swift Finance! 🙂

Avaxholic: Nice and I expect your project with more updates, Swift Finance could be a promising project in the future

We also picked up the best 5 community questions from the Google Form

So let’s jump right into the first question of our AMA event today

Timothy | Marketing Lead: Let’s go!

Avaxholic: Here’s the first question

1. As your introduction, your project’s designed with the “APR reset” feature and this one’s only available on non-native farms and pools. I’m really curious about this difference and how to make a profit on it. Can you explain more?

Timothy | Marketing Lead: Most yield farms die because of their native token does not possess any demand and people are constantly selling, which pushes the APR of their pools down.

Eventually, since there are no new deposits because the APR is not high enough to attract new investors, the devs will not be able to continue development or buy back tokens as there are no more deposit fees being collected.

Swift Finance solves that completely as the pools will go on rotation and there will constantly be new deposit fees being collected.

This allows continuous fee-sharing in our pools where SWIFT holders can stake and earn a part of our fees.

This ensures there will be a constant demand for SWIFT and ensures a stable token value with high APR’s every SEVEN days.

How you can make a profit from entering our non-native farms is entering early on during each APR Reset.

We will normally boost our Pool rewards FIRST by 3–5x depending on the Pool, which gives you either USDC.e, wAVAX, or wETH.

There will then be further incentives during the first few hours of our APR Reset, where you’d be able to earn more.

You can then stake those SWIFT rewards to our natives or Pools to earn even more.

As long as farmers keep SWIFT working within the yield farm, most of them can expect to see profit.

Done for Question 1!

Avaxholic: That’s impressive. We can see how potential the project with a lot of valuable features built up by you and your team

2. DeFi is trending now and there are quite some yield aggregators at the moment on the market, which projects do you think is your competitor directly and do you also think any of them inspire your project to have more development?

Timothy | Marketing Lead: **We’re a yield farm, not a yield aggregator (I believe Yak and Snowball are, not us)

Right now, we can’t truly say we have direct competitors as our APR Reset concept is truly unique.

However, if we were to compare to yield farms as a whole, Frost Finance comes to mind as they’re building their very own NFTs , which we are doing right now as well (which we’re basing on the mechanics of Loot).

Regardless of the size of the yield farm, they do drive us to do better and this benefits the Avalanche ecosystem as a whole in the end.

Done for Question 2!

Avaxholic: Interesting! So I think with this innovation, your project will become one of the most notable project on Avalanche and will grow faster and faster. Expecting a successful breakthrough with this feature

Timothy | Marketing Lead: We’re looking forward to that as well!

Avaxholic: Yes so the next question

3. I’m waiting for the day you launch the Lotteries function and I heard a lot about this one will offer users rewards from yield farming and winning more $SWIFT. Would you please talk a bit about the methods? I’m so excited to know more

Timothy | Marketing Lead: We’ve got to correct you right there ;)

We’ve already launched our Lotteries a while back and we’re proud to say that we’re the FIRST AND ONLY stablecoin lottery currently available on any chain.

We have plans in the future to include more tokens, through partnerships mostly.

The rewards for our lotteries come from the deposit fees that we collect from our non-native farms that we rotate on a weekly basis.

Done for Question 3!

Avaxholic: I see. This is a quality answer for the question. I think now we can know a lot more about Lotteries function what makes Swift Finance become the difference 😍

4. What happens when the APR goes down gradually and old farmers withdraw their money and no new farmers invest in as well. I wonder how to keep it working. How can your team keep it stable?

Timothy | Marketing Lead: Come win stablecoins with our Lotteries 😉

Well that’s really the whole idea of our “APR Reset”.

By “resetting” the APR we are able to ensure high APRs every week.

And with our Stake SWIFT, Earn xxx pools, this will create constant demand for the SWIFT token which will help with price stability and APR.

Of course a bigger question would then be, how do we ensure that non-native farmers are able to make back their deposit fee and also profit.

A few measures that we’ve taken to ensure APR remains stable throughout the week for our non-natives is that we’ve disabled deposits a day after each APR Reset begins.

This way, there won’t be new money entering that will lower the APR.

Of course, this means we make lesser in fees but we want to improve the experience for our yield farmers. This has worked so far as APRs have remained stable throughout the week.

In regards to new farmers entering, we are working on increasing awareness of our yield farm either through media outlets or partnerships.

Avaxholic: Niceeee i really like the way I think about this function.

It will help Swift Finance’s users a lot.

I really see the project will go big in the future and the way Swift Finance’s team grow it really professional and optimized for users 😎

So last question for today

5. Integrating with Avalanche Blockchain could offer you a great many advantages but do you think you will direct Swift Finance to become a multichain project in the future? If yes, which blockchains do you collaborate with next? 💪🏼

Timothy | Marketing Lead: At this moment, we do not have plans to expand to other chains.

However, there is a possibility that we will do so in the near future.

The chains that interest us at this moment is Fantom and HarmonyOne.

Avaxholic: Yes I bet your project will continue to thrive more and more and we believe every choice you made serving for the fastest development

Hopefully everyone here today gonna have knowledge and more experience using Swift Finance. 😇

Thank you for your time today Timothy

Timothy | Marketing Lead: Thank you for this AMA session, Suam! 😁


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