FollowSwaps AMA Recap Crypto Revolution Community

By Crypto Revolution | Crypto Revolution Telegram Group AMA Recaps | 8 Jan 2021

On 5th of January FollowSwaps conducted an AMA on Crypto Revolution Twitter Community. This was our first Twitter AMA and was really succesful! Let’s take a look at the most interesting points from the AMA.

TWITTER QUESTIONS

Twitter User:

Can you explain what your tokenomics distribution is? How many tokens will be minted? How many tokens will be locked by the team? I want to have a LONG TERM INVESTMENT with this PROJECT, how can you convince and assure me this project is SAFE and PROFITABLE?

FollowSwaps: Sure, no mint function, maximum supply is 5000
4000 WAPS Initial Circulating.
1000 will be locked for 3 months.
2500 WAPS pre-sale (0.12 ETH per token)

1200 WAPS and 200 ETH (liquidity will be locked)
added to uniswap liquidity pool 0.166 ETH per 1 WAPS Uniswap listing price.

Twitter User:

Do you have any solutions to solve bad behaviors from the wallet that we follow ? Like the wallet bought unknown, scammed tokens then rug-pull to benefits for them or like draining ETH of each transaction?

FollowSwaps: Yes , good question. In our bot settings, you will be able to limit your losses by choosing how much you want to risk for every transaction donor making. You can set it in % from donor transaction or choose any amount, for example, any transaction donor makes, you only spend 0.1 ETH.
You can also set our bot to ignore/not trade if donor making very small or big scalping buys/sells. We are calling it filters.

Twitter User:

However it’s worth bearing in mind, a bot, any bot, is only ever going to be as good as the human creating it. The old adage is true, garbage in, garbage out. What kind of trading algorithm is been used by FollowSwaps and how effective and profitable are they?

FollowSwaps: Our bot does not make trading decisions. It is you (the one who found a wallet e.g influencer or good trader and want to follow/repeat/mirror all his trades). This is what our bot does really well. Copy-trading. If he is trading in profit you will be trading in profit.

Twitter User:

Which part of the project are you most focused on right now? What is the current $WAPS revenue model? where can I buy $WAPS Tokens? and Can I buy them with a visa / Mastercard?

FollowSwaps: We are focused to make a local version, so people can run it from their computer (similar to trade butler bot) and going to make the biggest part of our code open-sourced.

Twitter User:

Who is FollowSwaps target customers- professional traders or the one’s that are just getting started? Who can benefit the most from the tools that you are offering?

FollowSwaps: Good question thank you, Anyone, I believe professionals can set it up and trade, mostly using our front run add on. The ones just started can benefit from setting u our bot and forget about this, just checking they wallets to make sure it’s in profit. Providing that they know profitable wallet and they willing to follow and copy trade it.

Twitter User:

How authentic and dependable is the trading strategy of SwapFollow? How can we assure that the money paid with the bot is not wasted? What if we keep in losing in trading even having a bot ? Is there a refund of payment ?

Twitter User:

Feature is the most vital thing in building project growth, a product will not develop without good feature and promotion, whatever it is good. so, how about SwapsFollow ? Can you provide a list of killer features that scare your competitors over your project?

FollowSwaps: Yes thank you, there are some of them:
-Front run “donors” wallets
-Integration with telegram
-Range of filters
-Customised Gas Limits
-Buy on pending or confirmed transactions
-Buy from different DEX (coming soon)

Twitter User:

Is there a benchmark for the purchase price on Rinkeby’s wallet? How does the bot work when frontrunning? How much do the bots cost for a month?

FollowSwaps: Using Rinkeby’s wallet you can only test our bot in a test net.
Howewer we have successfully moved our bot to ETH mainnet and some of our followers tested it and it all went well, bot frontran they transaction.

Twitter User:

Your project is interesting, can I ask you about the transaction if the wallet that we followed was successful but our wallet didn’t because of the price impact, out of gas ,… so what will happend next? WIll be 1 more transaction to replace it or nothing?

FollowSwaps: Good question, You need to decide what to do in this case.
The bot is fully customised. You can try to buy it as many time as you want, you can request bot check price and buy only if the price doesn’t dramatically change, or you can just skip and wait for the next.

Twitter User:

You say that many of your features are based on customer comments and suggestions. Could you mention some of the modifications that the FollowSwaps team has made to the project thanks to the feedback from the community and your customers?

FollowSwaps: Yes, for example we decided to make front run feature as an addon because not everyone needs it due to much higher gas price.

Twitter User:

I want to learn more about SwapsFollow but very little information, the community is relatively empty and little information is shared. What strategy does the SwapsFollow team have to develop the community and retain users for the long term?

FollowSwaps: We think our users making a profit is the key to keep a long partnership with our customers. Thank you for your question.

Twitter User:

I joined your group and felt it was too few people joining your project. Do you have any marketing plan to attract them, get users to be more interested in your project?

FollowSwaps: I understand, yes we are looking for a partnership with some TG channels, giving them our bot to test and even front run their transactions to prove our method. We also looking for AMA with different TG communities to make them aware of our product.

Twitter User:

I tried bot for trading before but it was not effective. What assurance you can promise to your clients that the money paid to you will be worth it? What kind of strategy do you use? How effective is Bot SwapsFollow in gaining profit and taking ROI ?

FollowSwaps: Our bot does not make trading decisions. You make them (the one who found a wallet e.g influencer or good trader and want to follow/repeat/mirror all his trades). If he is trading in profit you will be trading in profit.

Twitter User:

I read on your Twitter that one of the features of FollowSwap is that we can buy the token from different DEX. What will those DEX be? Have you already been in contact with any of them? Besides those DEX, what about the CEX? Are you open to that possibility too?

FollowSwaps: Thank you, in a feature, we will compare prices from Sushiswap, 0x, Mooniswap and any other Dex to get better price.
Unfortunately it’s not possible to connect eth wallet to CEX as you need API with permissions to trade there.

Twitter User:

What is your strongest advantage that you think will make your team leading the market? In contrast, what is your weakness? How do you plan to overcome it?

FollowSwaps: There is no such project/bot on DEX market. It’s truly unique. This is our biggest advantage. Scaling/growing to fast is our biggest weakness for now.

Twitter User:

Does “Follow Swaps bot” is work as same like copy trade methods and what is the advantage?

My suggest: Please pinned SwapsFollow website/official chanels on your Twitter for helping user to find anything related SwapsFollow project easier. Thank you.

FollowSwaps: Yes, our bot just copy trade with the option to front run.
Thank you will pin it now.

Twitter User:

Using the Follow Swaps bot we can follow any ETH address .. but is there still a limit on the number of addresses we can follow? or can we follow as many addresses as we want?

FollowSwaps: Good question, thank you. Yes you can connect a maximum of 2 “donors” to 1 bot.

Twitter User:

Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?

FollowSwaps: Sure, no mint function, so supply is 5000
4000 WAPS Initial Circulating.
1000 will be locked for 3 months.
2500 WAPS pre-sale (0.12 ETH per token)
1200 WAPS and 200 ETH (liquidity will be locked)
added to uniswap liquidity pool 0.166 ETH per 1 WAPS Uniswap listing price.

Twitter User:

I found that SwapsFollow offers a promising passive income. What methods are available and are there any conditions that must be met?

FollowSwaps: Hi, yes you need to know a wallet you want to follow.
If that wallet is profitable, then you will be profitable as well. ie professional trader or influencer.

Twitter User:

According to the roadmap, what are your most important next priorities? Does your team have enough funds and strong community to achieve those milestones?

FollowSwaps: Most important next priorities are a local version of our bot and great user interface. The community grows day by day.

Twitter User:

How does the FollowSwaps project generate income for the development of the project?

FollowSwaps: We will charge 1 WAPS per month and keep 50% for the team, another 50% will be burned.

Twitter User:

As I know a strong community is very important for every project. Do you plan to be a local or global project? What strategy will be used to expand the community?

FollowSwaps: We would like to be more local for now and keep our gem for a small community.

Twitter User:

Great user experience is important to all customers, what solutions does FollowSwaps have to improve user experience?

FollowSwaps: We are working on a great user interface to improve customer experience. Also safety is very important to us!!

Twitter User:

Marketing is also an important factor of adoption Do you think you’re doing good on marketing the technology? Do you think you can create the next big hype from the crypto space?

FollowSwaps: We have thought a lot about marketing, however, at this time we are more concerned about creating the best product. Safety and customer satisfaction is our primary concern.

Twitter User:

Competition is an arena to prove a project is worthy to get the attention of the audience. In the end, let the product speak. So, What are you doing to make your project truly Strong and Unique? What’s your keys points to convince investors to invest in $WAPS for the long term?

FollowSwaps: Buying WAPS, you invest in a unique project, as of now, there are no competitors. We will continuously develop new features and listen to our customer’s requirements.

Twitter User:

Where does the project name come from? What does it mean for you and why did you choose that name for your project?

FollowSwaps: Sure, FollowSwaps — this is what our bot does , the whole idea.

Twitter User:

I want to ask, Which one the most important for you in developing the community and increasing the value of the project? Which one that Will you do first?

FollowSwaps: I would say safety is our priority, that s why we are making a local copy of our bot now.

Twitter User:

Wao …. this is very impressive..so you could say that in CEX this is called copy trade right ?? so to follow a wallet whale where can I find it to be followed?

FollowSwaps: You can find wallets on Etherscan. Some influencers even share their wallet.

Twitter User:

Exactly who are the “donors” of FollowSwaps’ front running wallets? what is their role within your system? are these donors people or some kind of fund or automated protocol?

FollowSwaps: A donor is a wallet that you want to follow, normally profitable traders or telegram/twitter influencers.

Twitter User:

Nowadays, I have seen that many assets are on #ETH, Follow swaps is also a market on ETH. So what is #WAPS? What are the advantages that you have seen on marketing in #WAPSTOKEN

FollowSwaps: WAPS is a utility token. You need to hold 10 waps to use our bot and follow other wallets. Thank you.

Twitter User:

Can you share your fundraising situation and how your private and public offering tokens are distributed? And what are the plans for the next IEO? What should we prepare if we want to participate?

FollowSwap: Token Distribution — Presale
Hardcap: 300 ETH
Presale Price: 0.12 ETH per 1 WAPS
Uniswap listing price 0.166 ETH per 1 WAPS
Minimum ETH amount: No minimum
Maximum ETH amount: 10 ETH

Twitter User:

On your website it says that FollowSwaps bot is free to use for your investors and coin holders, what about users who do not belong to that group? How much would be the fee they have to pay?

FollowSwaps: Hi, thank you for asking, I just leave our price tiers here:

PRICE TIERS:
The bot is following “donors” wallet by confirmed transaction by default.
Bot price is 1 WAPS for 1 running bot per month.
(you can connect a maximum of 2 “donors” to 1 bot)

Twitter User:

The truth is that it is almost impossible to follow successful wallets and be profitable, as human speed is not fast enough. How does FollowSwaps help me keep my wallet profitable and with good numbers? What are your use cases? What would be the difference in using this BOT?

FollowSwaps: Obviously just copy trading as a main idea.

Another idea just came to my mind is:
You bought a “bag” /coin but worry about contract owners to dump/sell on you. You simply set up our bot to sell before the contract owner/big wallets sell. Also a bot is much much faster than human speed.
We have a front run feature which makes the impossible possible. With human speed one cant front run.

Twitter User:

Follow Swaps is a bot just compatible with Uniswap or also can be adapted to other DEXs?

FollowSwaps: Yes , It will be adapted to other DEX in a future.

Twitter User:

Can you give examples of use cases? Like how I can use your bot and make money?

FollowSwaps: Good question, thank you
Obviously just copy trading as a main idea.

Another idea just came to my mind is:
You bought a “bag” /coin but worry about contract owners to dump/sell on you. You simply set up our bot to sell before the contract owner/big wallets sell.

Twitter User:

What are the strategies that you plan to implement to avoid the price inflation of the $WAPS token? and is it necessary to be a $WAPS holder to be able to enjoy the bot?

FollowSwaps: You can hold 10 tokens and use it for free or pay for our service. 1 WAPS per bot.

CONCLUSION

FollowSwaps: Thank you again for having me at your first Twitter AMA.
If I didn’t reply to any questions, I do apologise, you can go to our project chat or ask me directly.
Telegram chat: @FollowSwaps_CHAT

After the AMA, I realised that some people still don’t understand what our bot is for.
This bot is for you to set up through filters and enjoy the profit, there is no trading algorithm. This bot only copies trades on other wallets (The “Donors”) and it’s your responsibility to find one. You can do it on Etherscan or dextools, Twitter and/or Telegram. Search for active wallets, check their buys and sells.
Check for wallets that manage to buy hot coins first.
This bot is only profitable if the donor’s wallet is also profitable.

Those bots are popular in the centralized exchange space, however, ours is the first and only one in the DEX space.

One of the main features of this bot is the “Front-run” add on. It means that you can jump the queue and buy/sell something before the donor wallet you’re following, by applying more gas.

I was also thinking about more use cases. Obviously, copy trading but what else?
Good example:
You bought a “bag”/coin but worry about contract owners to dump/sell on you. You simply set up our bot to watch their address, to sell before the contract owner/big wallet sells. Yes, you will pay a higher gas price but you won’t be rugged.

IF you guys have any more ideas on how to use it? Let us know
@FollowSwaps_CHAT
We will airdrop 1 WAPS for the best use case!!!

If anyone wants to invest in our project, go to presale page to get your WAPS https://followswaps.com/#presale it will be available until 15th.

BUT first, try our bot, it’s very easy and works for everyone on testnet.
Just go to our main page https://followswaps.com/
press TRY IT OUT and follow our simple instructions.

For more information and future AMAs, join our Social Media channels:

Website: https://crypto-revolution.io

Telegram group: https://t.me/crypto_revolution1

Twitter: https://twitter.com/revolut20?s=09

Our Partner:

Website: https://followswaps.com/

Telegram group: https://t.me/FollowSwaps_CHAT

Twitter: https://twitter.com/SwapsFollow

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