Swix DAO AMA On Polygon News

The following is an AMA that occured on May 13th, 2022, in the official telegram channel of Polygon News, some community members interactions within the AMA had been edited for readibility, you can see the video of the AMA here if you prefer:

Participants:
GP {BETO}: @GPVVKING on Telegram. MaticNews.com: https://twitter.com/maticnews_com
Swix Bob: https://twitter.com/swixbob
Swix King: https://twitter.com/SwixKing
Swix Stucco: https://twitter.com/senor_stucco
Swix Jedi: https://twitter.com/swixJedi

https://t.me/polygonnews/290246

Arranged as text for wider publication by @swixshepherd https://twitter.com/SwixShepherd

SWIX DAO AMA ON POLYGON NEWS

Swix Bob: hello hello

Swix Jedi: gm everyone!

GP {BETO}: Welcome guys!! A pleasure have you here with us this afternoon!

Swix Bob: our pleasure!

Swix Jedi: Good to be here, thanks for the warm welcome

GP {BETO}: So guys today we have with us a very new but at the same time a project that worked for many months on it, very promising and most important with an IRL application.

MaticNews.com: AMA WILL START NOW !
CHAT WILL BE MUTED during the AMA but you can ask your questions when it is finished. In the first part the guests will reply to my questions that you all can read and follow here, then after the AMA is finished, they'll reply to your questions for approximately 15 minutes (or as long as they want). We are probably the most active group on Polygon and I know many of you would like to know more about this project, but please be patient, you'll be allowed to ask your questions after the AMA! Don't forget, in order to be eligible for the rewards, please follow all accounts in the last pinned message! (https://t.me/polygonnews/289615) This ask me anything (AMA) session is for general information purposes only! The messages you read here in this group during the AMA and outside the AMA are not investment advice! Please do your own research!

GP {BETO}: Another ama on a Polygon chain project after the big success of past ones! Let's start with an introduction of you and your team! What past experiences you all have got if any?

Swix Bob: The founding Swixie team is made up of an ex-defi fund founder and two global real estate investors and operators. Our in-house tech team consists of 5 full-time solidity engineers and full-stack developers with experience from working at Polygon to building several Ethereum-based apps. The founders met in one of their London properties and are fulfilling the vision of a web3-native property rental ecosystem through SwixDAO. Book amazing properties all over the world while being rewarded through SWIX, which you can either use for more stays or stake to retain staying power.

GP {BETO}: That’s a brilliant introduction and it’s very nice to see a project with a big experience in real life that want to bring their knowledge at the blockchain service. Priceless experience Out of curiosity, why did you choose this name, is there any backup history?

Swix Bob: It’s the name of the most prestigious postcode area in London, and also where the founding Swixies met. The name wasn't phonetically easy to pronounce so we changed it to Swix with an i. It is also the birthplace of where the founding swixies met and spent their time brainstorming the entire Swix ideology. We are hugely connected to that time and that place and it is where we will put our Global HQ. In relation to the backup history it is also where two of the founding Swixies received their education in the business of real estate.

Swix Stucco: It's essentially the alphanumerical ground zero for the protocol. SW1X ---> SWIX

GP {BETO}: Wow, that’s a brilliant name! I hope will bring wealthy customers to the platform. Very good idea, congrats to whom in the team had it! What is SwixDao? Please introduce the project (to) us!

Swix Stucco: That (idea) was (of) Swix King Wish it was me though!

Swix Bob: Swix provides what we call 5 star Review short-stay accommodation services. Swix DAO leases its property supply to ensure the highest quality through quality control and premium service standards, as well as to earn the juicy value produced by the properties through short-term rentals.
Swix delivers a new class of accommodation, one which fills the gap between hotel and homestay, and which upgrades the vacation rental marketplace by solving these critical problems: Quality, Efficiency, Incentive and Innovation The yields generated by the properties are generally reinvested to expand the property portfolio or growing the on-chain SWIX-USDC LP in proportion with Lease-Under-Management value growth, as per our well thought out community and management discretion. Through our Bonding functionality, investors can exchange liquidity ($) for locked SWIX tokens, and Swix invests that liquidity into acquiring property leases and furnishes each property to the 5 Star Review Swix quality standards.
Stakers can stake SWIX and earn SWIX token rewards which are backed by the real world homestay property and experience revenues, as well as with $1 in SWIX-USDC LP

GP {BETO}: And that’s exactly why we invited you today with us! We will try to go more in depth during today’s ama! Before speaking more in depth about the project, which is your mission and vision?

Swix Stucco: Our mission is to allow anybody to seamlessly rent an amazingly high-quality property, anywhere in the world, without worrying about it not meeting expectations. Our vision is to do so by leveraging the benefits of Web3 technologies and communities, and to reward Swix guests for their travel, through SWIX.

GP {BETO}: Indeed could really come out the perfect booking platform, especially for your “propriety experience” and your reward program. Really unique. Starting from the beginning, about your native token $SWIX, please tell us more about that!

Swix Bob: SWIX is born as an incentive tool to reward travellers for their stays through the SWIX token itself, which they can use to pay for stays and which represents their share of the Swix Property Ecosystem.

GP {BETO}: Simple and clear introduction. Furthermore, which are the use cases of $SWIX?

Swix Bob: $SWIX is the governance token of the Swix Protocol. Those who have the highest conviction in $SWIX, engage the most with $SWIX, and are willing to take the most risk with $SWIX earn the highest potential rewards and have the most say in the governance of the platform.

SWIX can be staked into sSWIX and allow Stakers to receive SWIX rewards paid in SWIX which are representative of the value growth of the Swix property portfolio value and the revenues generated by Swix properties. sSWIX can be locked into veSWIX to direct tokenback emissions, enabling travellers and Web3 organizations to direct their proportional voting share of SWIX tokenback emissions to locations they know they are going to be travelling to (or their DAO members).

GP {BETO}: Perfect, so basically 3 tokens in your ecosystem right? Did you already choose the Dex?

Swix Bob: yes and yes we're going to launch on Uniswap very probably since it now has plenty of liquidity on Polygon

GP {BETO}: Thanks for the further information, looking forward to the confirmation! What are the “Bonds-to-pay” ?

Swix Bob: Our “Bond-to-pay” mechanism is essentially what allows us to reward Swix guests and sSWIX holders (Stakers) with “value-backed” SWIX. Each SWIX token is backed by its proportional share of the Swix Property portfolio value (the value of each property is represented through its own Metalease - a digital representation of the property’s financial metrics and ownership contract only accessible to SWIX token holders) in addition to $1 in SWIX-USDC LP for each SWIX in circulation. Essentially, the “bond-to-pay” function is our backend mechanism which converts a portion of the value generated by Swix property revenues into SWIX-USDC LP which backs SWIX tokens rewarded to guests and stakers.

GP {BETO}: Looks as will be a key feature in the future of the platform, especially in the liquidity creation. But how can we join the SWIX ecosystem, will be an IDO?

Swix Bob: We will provide a $3M SWIX-USDC LP after the LBP, and there will also be a bonding batch on day 1 to raise more liquidity for the LP You can get Whitelisted and get a chance to participate in the earliest and most exclusive round of the Swix Protocol bootstrapping (the IDO). If you don’t manage to participate at this time, there will be a second opportunity through a Balancer LBP via Alchemist Copper at a higher valuation before we launch our official SWIX-USDC Uniswap LP.

GP {BETO}: Thanks guys for the further explanation, I suggest everyone to get whitelisted, best deals are always done in bear market in a long term prospective. Can’t wait to have more infos about the IDO. Speaking about your platform, when will be possible to try it? Looks as something that will change the short term rental proprieties booking.

Swix Bob: You said it right! Our community members can already try out our beta and give us feedback through our Discord, to which we invite you to join and check it out. Testers will earn WL spots as well as SWIX rewards.

Join the discord https://discord.gg/gKvzgMfQGb to test the platform.

You'll find the link on our discord, this is a sneak peak of the landing page

GP {BETO}: Looks very clean And pretty much ready to go How many months do you think that you need to complete it for a public testing?

Swix Bob: Hehe thanks - should be live accepting Polygon payments through Metamask connection Mid-June, after a nice audit.

Swix Stucco: Everyone welcome to get a sneak peek on the Discord, IDO procedure detailed in full but you need to qualify for whitelisting first!

GP {BETO}: Wow that’s amazing! Way earlier than what I expected! Great confirmation to hear! Just curious. User must pay in crypto or can also pay in fiat?

Swix Bob: you can already rent them as you will always be able to rent Swix properties across multiple platforms paying in fiat, and we could also easily integrate a fiat payment option on the platform right now, but we want to wait for the crypto integrations to be ready. So yes, you'll be able to book in both crypto and fiat. Crypto payments will be allowed through flawless wallet connections.

GP {BETO}: Great confirmation to hear, I think it’s the best choice as not everyone is ready for the web3 adoption. But everyone must be ready for the web3 benefits. Let’s talk about the tokenomics! Please tell us about yours and about why you chose this model?

Swix Bob: $SWIX will not have a traditional hard backing. Instead of backing $SWIX with $1 of stablecoins in reserves, or 1 tonne of carbon, $SWIX will have a liquid backing. SwixDAO mandates on-chain revenues are provisioned for liquidity bolstering; not reserves. Instead of backing newly minted $SWIX with $1 in stablecoins, SwixDAO will inject $1 into our SWIX-USDC liquidity pool for each newly minted $SWIX. In later protocol states if our primary liquidity pair is extremely healthy, this mandate can be shifted to other SWIX liquidity pairs per SwixDAO snapshot vote.
Swix will employ a liquid staking and rebasing model with a few important changes.
Users stake $SWIX for sSWIX. sSWIX is value-accretive and inflationary, maintaining your market share of SwixDAO through increasing supply approximately every 8 hours, or each rebase. The reward rate will represent our projected growth for the following year. Early growth figures will factor a premium to real-revenues from operations, the SWIX market premium. Over time, this premium for early participants will decay until reaching a low floor for tail emissions equivalent to the real-world rental yield of the SWIX property and experience portfolio. we also have Bonding which we use to raise liquidity on-chain in exchange for vested, discounted SWIX. Swix then use that liquidity to either acquire more properties or bolster on-chain SWIX LP.

GP {BETO}: Thanks for the in depth explanation. Great to hear especially about the Dao mechanism, really crucial with upcoming regulations. Talking about the security side, the Clichè question that we ask in all AMAs, are there any KYC or audit planned?

Swix Stucco: Yes sir, audit with Certik is booked for next month on our initial booking platform on Polygon. KYC wise, it won’t be mandatory on-chain as it can always be handled by client services upon guest arrival in the property.

GP {BETO}: Great security partner!
Furthermore, how is the revenue being generated for the project itself which can be used to finance future developments?

Swix Bob: The properties generate extremely high yields (20-60% annual), and the beauty of bringing this value on-chain through our Metaleases will be that SWIX holders will always be able to transparently view the financial metrics of each property in the Swix DAO property portfolio. The profits are mostly reinvested in further property acquisitions for the first year at least, and will be directed as per team and community’s approval and discretion through Swix DAO snapshot voting.

GP {BETO}: This imho will be a key point to do a successful launch of the platform and most important further growth it in the future. Really looking forward to it. Which are the current partners and the marketing strategy to have a good amount of users at the launch of the platform?

Swix Stucco: Swix guests are secured through various key funnels, primarily a selection of all the leading Global platforms, repeat business from our existing client database and soon to be launched our own Booking Platform. Repeat business is one of our strongest funnels as our data proves that once you stay with Swix you never go anywhere else. Currently occupancy is running at around 85 to 93%. The model has proven itself so off we go to expand it. In a few years from now we will be looking back on the Swix story and everyone that came on board from the beginning will be super proud. Web3 wise, we are working with some really fantastic NFT Communities to create community-themed Metaleases (and represented underlying real world properties) which community members can finance through a dedicated Metalease Bonding offering, where in addition to the locked, discounted SWIX tokens in exchange for their investment they also receive a Metalease Patron NFT which grants them special discounts and free nights on that property or any other Swix Property. This not only favours Swix in the raising capital requirements, but also on-boards loyal community members from the partnered communities onto Swix.

GP {BETO}: I’m really curious to see the integrations that you will make from here till 1 year between the “in real life world” and the “web3 communities”

Swix Bob: haha yeah man... big partnership announcement coming soon!

GP {BETO}: HYPE!

Swix Bob: the beauty is we will be able to provide any web3 org with customized property(ies)

Swix Stucco: Majorly unexpected and exciting things are coming, this is just the calm before the storm!

GP {BETO}: Ready to test them out all of your tools!!! We will bring all reviews to the community this summer booking the holidays ahaha!Talking about the future, as recap, do you have any preliminary roadmap that you would like to share with us?

Swix Stucco: Well.. starting with the unveiling of our unique Metaleases through a strategic partnership announcement in the next weeks, we are handing out another 500 WL spots to more Web3 communities allowing Swix to have a wider following for our IDO, which will happen in the next couple of weeks as well. Following is the Booking Platform Alpha release which will be coming up early next month with working booking functionality for polygon native token payments which will be released after smart-contract audit by Certik. We will be handing out some WL spots to new joiners in the next few days, so join the discord here if you want a chance to participate: https://discord.gg/gKvzgMfQGb

GP {BETO}: Can’t wait to see the next updates and guys be tuned on their discord to grab the whitelists and join the IDO at discount price! Last, but not least, what do you think about the Polygon Chain?

Swix Bob: We chose Polygon because of faster transactions and low fees, perfect for high volume transactions. In addition to it, the multiple ecosystem partners available such as fiat on/off-ramping providers is unrivalled. We have also discovered that Polygon has an amazing community, and we realise no other community can help us improve our platform as much as you guys!

GP {BETO}: And this is just the start! When community will start to use the platform I’m sure they will get “addicted” to the project even more! Would you like to add something more before I open the chat ?

Swix Stucco: I think let's open it up!

MaticNews.com: FIRST PART OF THE AMA HAS JUST FINISHED! CHAT WILL BE UNMUTED in 3 minutes! When it is unmuted, you can ask your questions from the guests and they will reply to your questions for approximately 15 minutes (or as long as they want). We are probably the most active group on Polygon and I know many of you will ask your own questions, so please be patient with the guests! Don't forget, in order to be eligible for the rewards, please follow all accounts in the last pinned message! (https://t.me/polygonnews/289615) This ask me anything (AMA) session is for general information purposes only! The messages you read here in this group during the AMA and outside the AMA are not investment advice! Please do your own research!

SWIX DAO AMA WITH THE POLYGON NEWS COMMUNITY

GP {BETO}: 3 minutes to prepare your questions guys!

Swix Stucco: All questions welcome, don't hold back guys!

Question Hakeem: Two (2) major limitations are currently attributed to all token reward schemes. These limitations include:

1. Token reward schemes are based on finite token supply with a limited amount to be distributed as rewards. This is not sustainable unless the token's price increases infinitely along with demand for rewards.
2. Token reward schemes are based on infinite token supply in which token rewards are issued in perpetuity which we all know how it is going to end as value doesn’t grow from thin air. What do you see to these 2 limitations and how does the Swix DAO team intend to fix this on their platform?

Answer by Swixie Swix Bob: Yeah so by having an inflationary token model where SWIX tokens are sold in exchange for Liquidity which we use to lease properties and earn revenues from each property, each token is effectively backed by at least the cost of emitting it (aka paying it) + the surplus which is the yield generated by the properties (aka allocated capital = cost of token issuance). SWIX rewards (as staking yields) represent our projected growth for the following year. Early growth figures will factor a premium to real-revenues from operations, the SWIX market premium. Over time, this premium for early participants will decay until reaching a low floor for tail emissions equivalent to the real-world rental yield of the SWIX property and experience portfolio. We plan to cap SWIX supply emissions at 5M SWIX , to be reached in around 5 years with current growth rates.

Question JAIS: Can you highlight the important use cases of your project to real life situations

Answer by Swixie Swix Bob: Refined and reliable properties which you can rent all over the world using direct crypto-wallet connections as well as traditional fiat payments, and earn valuable rewards while travelling.

Question Dickson: About the staking of $SWIX How many % APY/APR is allocated to those who stake their $SWIX and apart from getting more $SWIX what other benefits can we get by staking $SWIX

And can non $SWIX holders use SWIX properties

Answer by Swixie Swix Bob: Current projections have initial APY set us about 560%, but that may change depending on market conditions as the reward rate is based on the realistic real life property revenue projections.

Question Smart: It says that Swix DAO will only be accepting it's own Liquidity pool token, SWIX-OHM SLP. Will this be the only liquidity pool token that Swix DAO will be accepting or will there be any other liquidity pool? If there will be any other liquidity pool, who are those that will be in charge of making the decisions of the liquidity pools that will be added?

Answer by Swixie Swix Bob: Swix will only have a SWIX-USDC LP to begin with, any document where you read -OHM SLP is outdated sorry! Our fellow swixies are revamping all of our docs while we speak.

Question D€R: How the concept work in rewarding users that on travelling, what are the requirements should meet and how Swix take advantages from these concept?

Answer by Swixie Swix Bob: Each and every stay receives SWIX tokenback rewards, so guests booking from external platforms then convert into loyal Swixies as they can only spend SWIX on the Swix booking platform.

Question 0xSaviour: Do you plan with the growth of the website to support different chains?

Answer by Swixie Swix Bob: Yes, Polygon to begin with, EVM compatible to follow, and eventually Solana and Cosmos.

Question Heisenbrg: Marketing strategy is very important. A product can be established on the market without marketing and promotion, So what are your plans for this? How will you build strong relationships with communities?

Answer by Swixie Swix Bob: We have a unique solution which our Community Relationships managers will be ensuring we offer to all the communities which best align with Swix's vision. At the same time, we can offer special promotions to communities of users who support Swix such as special discounts for payments made in the community token.

Question Airdrop Spartan: How can I make use of your platform.

Answer by Swixie Swix Stucco: Head over to the discord to find the Swix Booking dApp beta

https://discord.gg/AX6gDdha

Question Don: Many projects have problems with UI / UX and this one turns off new users. How do SWIX DAO plan to improve the interaction with new users and with users outside the crypto space?

Answer by Swixie Swix Jedi: Swix plans to make sure that the both the UI and UX is as smooth as possible and effectively, with the help of tokenback rewards, become an entry point for users outside of crypto space to start into cryto. Our staff will also be proficient in DeFi and happy to help to bring newcomers onboard.

Question Doms: What payment card do you currently support for booking Properties? Can user use Stable coin or Crypto as Payment Method? Also, do you plan to add more variation of cards in the future?

Answer by Swixie Swix Bob: We'll add any major card provider!

Question Brandigeek: Do you have any plan for projects Onboarding?

Answer by Swixie Swix Bob: yes we do, jump on the discord and you'll find all the appropriate info there!

Question Babas: How has the recent COVID-19 has affected your project? How will you survive, let's say if this COVID-19 lasts a year longer?

Answer by Swixie Swix Stucco: Swix was strategically founded in Oct 2021 to begin building as the pandemic came to an end and to position itself for the strong short stay rental market rebound predicted for 2022-2030. The 4 starter properties we have secured in central London have performed well so far with 75-90% occupancy across the set so the outlook is positive.

Question Lomi: I saw on your website, SWIX DAO Build on POLYGON Why did you choose POLYGON? Do you think POLYGON has potential? What advantages do you get if you use the POLYGON network?

Answer by Swixie Swix Jedi: Polygon was chosen due to considerably lower fees when compared to Ethereum and faster transaction confirmation times, while still being an established network with access to good on/off-ramp services and big liquidity.

Question LordSeed: How will you control the bond inflation?

Answer by Swixie Swix Jedi: Bond inflation will be controlled by opening up a controlled amount of bond capacity. As Swix will have an off-chain source of revenue (real-estate), it will not rely on bonds for income, thus will not be forced to open a bigger capacity of bonds that the current conditions of the market and price of SWIX can handle. Swix Bob: Bond control variables ser, you can learn more about this by chatting with our Policy Swixie gigabrains on the Swix Discord!

Question Judelaww @nordicwhales ADDICT: Regarding booking system on your staking and bonding mechanism, why must to separate into 3 different wallet instead to one wallet to funnel the incoming revenue? and who's controlling each of these wallet?

Answer by Swixie Swix Jedi: If I understand the question correctly, this refers to the initial automated revenue splitting structure, which would direct the revenue coming from bookings towards 3 different wallets: expense wallet, DAO reserves and tokenback. In latest version of the system we diverged from that and funnel all the funds to one DAO controlled wallet, from where it will get distributed further according to current needs. Swix Bob: Multisig's with doxxed community members will be holding control to all wallets, Swix might want to reply on first part.

Question Farell: Will SWIX be available in the Google Play Store and Apple App Store to make it easier for Users to Booking Properties?

Answer by Swixie Swix Bob: yeah Swix is going to have a mobile app too! Probably Q4 2022/Q1 2023

Swix Stucco: Swix mobile booking app will be available on both! Development begins on completion of IDO soon...

Statement Vincent Gascoigne: Polygon has all gems this month

Answer by Swixie Swix Bob: love to hear that! and please do introduce us to any cool project building on Polygon if there is a potential usecase together!

Question Jack Polygon: How many customers do you expect for the first year?

Answer by Swixie Swix Stucco: We expect to secure 400 rental units by end of Y1, acquiring 20k new customers for stays and many more for Staking and Bonding.

Question Zafer Metin: How are staking rewards calculated in Swix? How will stakers calculate their rewards?

At SWIX, you said that the community could participate in the development of the protocol. For example, if community members submit a proposal on properties, how are proposals decided in governance? How are decisions made in SWIX governance?

Answer by Swixie Swix Bob: discord relevant Mansion chat --> Forum proposal --> Snapshot vote Staking rewards are calculated taking in consideration realistic projections of the property revenue & value growth.

Swix Stucco: Was a great session guys, rly enjoyed chatting with you all. If you liked what you heard here today, then head over to the discord to secure your WL spot (link can also be found on our twitter).

Swix King: Excellent sesh thank you to everyone

Swix Stucco: Let's continue these chats on the Swix server, hope to see as many of you there as posts. And a big thank you to Matic News for believing in the project and inviting us on!!!

*Some questions were not responded on the AMA and thus are omitted here.