Gate.io AMA with HurricaneSwap-The 1st Cross-Chain Liquidity DEX on Avalanche

Time: Nov 25th, 2021, 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Symington W. Smith, Founder of HurricaneSwap in the Gate.io Exchange Community.
Official Website: https://hurricaneswap.com/#/
Twitter: https://twitter.com/HurricaneSwap
Follow HurricaneSwap on Twitter and Telegram

Guest

Symington W. Smith — Founder of HurricaneSwap

Q&A from Gate.io

Q1: Hello Symington. Before we proceed, can you please provide a quick self-introduction for the community?

Symington: Hello all. I’m Symington, the founder of HurricaneSwap.

It’s a pleasure to share the latest news about HurricaneSwap with you guys.

Q2: What is your project exactly and can you tell us more about your vision?

Symington: We have an official definition of HurricaneSwap:

The First Cross-Chain Liquidity DEX based on Avalanche.

More specifically, HurricaneSwap is a cross-chain liquidity DEX with an innovative LP-Bridge mechanism (Roke Protocol), which enables users to trade popular assets of other chains without leaving Avalanche.

Q3: Pretty nice! I assume there are multiple approaches to solving the problem of cross-chain liquidity. Why is HurricaneSwap’s current architecture the optimal solution?

Symington: I agree with you, there are many solutions of cross-chain liquidity, like cross-chain bridge.

However, I think the cross-chain bridge was designed to be a low-frequency tool, like WBTC or RenBTC.

Technically, it is quite difficult to develop a cross-chain bridge.

Also it’s hard to earn profit as a cross-chain bridge.

In the case of most cross-chain swap, they actually develop a cross-chain bridge and then find out it’s hard to make a profit, so they decide to make it as a swap.

However, they barely know about trading so they can’t give users a good trading experience.

HurricaneSwap is different. We are designed with true needs and always thinking from user-side.

You’re so welcome to try our product: https://hurricaneswap.com/#/

Q4: That’s quite interesting! Can you please tell us more about the tokenomics behind the project?

Symington: Sure.

Here you can see the tokenomics of HCT.

As the native token of HurricaneSwap, $HCT represents holders’ many rights.

First of all, the right to vote.

HurricaneSwap is a community-driven project, after we launch the mainnet, $HCT holders are expected to participate in project governance, including token listing, marketing plan, community development and so on.

More importantly, users need to burn $HCT to vote.

Based on the experience of CEXs, that kind of listing activity could burn hundreds of millions of tokens. Imagine that.

Q5: In your opinion, how does HurricaneSwap benefit the entire Avalanche eco?

Symington: That’s a great question.

Actually, benefiting Avalanche is our first priority.

As a cross-chain DEX, we aim to bring more valuable assets to Avalanche.

That’s what Avalanche needs most at this point.

Besides, I have been in China for many years, so I’m quite resourceful in China and also other Asia countries.

I can see that Avalanche attach great importance to the whole Asia market, so I hope I can help them to expand into new markets in Asia. Let more people know about Avalanche and be a part of it.

Q6: It’s been two weeks since you launched the mainnet, how’s everything going?

Symington: Things are going pretty well recently.

We launched HurricaneSwap V1 on 10th Oct, meanwhile $HCT was listed on MEXC Global, MDEX, ZB and HurricaneSwap.

On opening day, the highest price of $HCT reached 0.49USDT — that’s 16 times higher than the public offering price of 0.03USDT.

At present, HurricaneSwap mainnet has been successfully online for two weeks and is running smoothly. The number of users has exceeded 50,000, and 17 LPs have been opened.

The cross-chain transaction function has also been under test on HurricaneSwap Testnet V2. As of now, 4940 addresses have participated in interactive tests and 8886 contract interactions were successfully completed.