April 12, 2023 (1pm UTC)
Host: Could you tell us a little bit about your background and experience in the web3 space?
Chris: So, a little bit about me: I have been in the crypto space for over a decade now. I purchased my first few BTC for around $300 and XRP at 2 cents.
I was attracted to crypto not just for the profit potential but also because I believe in the decentralization of information and the ability to participate in the global money market with a low barrier to entry.
Over the years, I have either been exposed to or participated in almost every web3 ecosystem you can name. From BTC/ETH/XRP to Cosmos, Polkadot, Luna, Solana, Avalanche, Helium, Olympus DAO, StepN, those are just some of the ecosystems I actively participated in.
I’ve been exposed to hundreds of tokens through dozens of centralized exchange accounts and private wallets. I’ve bought, sold, mined, and staked tokens; participated in airdrops; provided liquidity; farmed yield; created and purchased NFTs; bought nodes; joined DAOs; voted for projects; and played Play2Earn.
Over the past few years, I have been diving deeper into tokenomics and the gamification of these systems and providing analysis and consulting (disclaimer: I’m not a financial advisor).
The past year, I joined the builder community and founded my own startup in the “to-earn” space, but I realized that the DeFi space would be more rewarding to build in during the bear market.
With that said, I’m excited to be a part of this amazing PoseiSwap team and community, and I can’t wait to see what we will achieve together.
Host: For those who are unfamiliar with PoseiSwap, could you explain what it is and how it works?
Chris: Sure, Poseiswap is the semi-official DEX of the Zebec protocol. It will have many of the same features that most of you are probably familiar with from other DEXes such as Uniswap, Pancakeswap, 1Inch, etc.
Users will be able to swap tokens, provide liquidity to earn yield, farm through staking LP tokens, and participate in governance features such as proposing and voting for new pools, as well as variable protocol parameters.
PoseiSwap aims to solve the problems of high costs, lack of privacy, and non-compliance that have plagued other decentralized crypto exchanges by being fast, private, and compliant.
To address speed and affordability, PoseiSwap runs on a Layer 3 blockchain, the Nautilus Chain, which implements a modular rollup chain that currently achieves over 2,000 TPS—many times more than other EVM chains—and that number is expected to skyrocket as Nautilus developers and PoseiSwap take advantage of Nautilus’ modular nature to create an app-specific rollup.
As for privacy, PoseiSwap will address these concerns by allowing users to trade using Nautilus Chain’s upcoming zk-tech. Traders will be able to swap and profit without having to signal their next move. This is a significant advantage for anyone who wants more privacy and protection in their trades.
Lastly, in regards to compliance, PoseiSwap will be compliant with regulations by having a permissions pool of assets and an OFAC-compliant module.
PoseiSwap will give all users a safe place to trade with confidence and without fear of upcoming regulations. This will be essential as licensing and regulations start to come into play in the DeFi space.
Host: I’m curious about the name "PoseiSwap." How did you come up with it, and what’s the inspiration behind it?
Chris: The name refers to the Greek god Poseidon, who is the god of the ocean and sea. We chose this name because "water" is often associated with investing.
Whether it is the liquidity being provided that enables exchange, the ebb and flow of money, or the waves of transactions that influence price, Poseidon always knows how to read the waters and tame the storms.
Host: With so many decentralized exchanges out there, what makes PoseiSwap stand out from the crowd?
Chris: First and foremost, PoseiSwap is positioned as “THE” DEX for Zebec’s ecosystem and will receive the trading volume that is associated with being the best option in a large and growing ecosystem.
As for innovative features, one example is the token bonding mechanism required for DAO participation, which ensures that only members with the largest stake in the long-term success of the project are able to determine the direction of the project.
This is designed to discourage bad actors and protect the long-term viability of the ecosystem. As for competitive advantages, Nautilus (Zebec’s L2) offers the speed of Solana with the reliability and decentralization of Ethereum.
It also has a highly scalable modular structure, which will allow PoseiSwap to simply and quickly deploy not only the core features but ecosystem updates as well, such as ZK-rollups, when they become available.
Host: Why did you choose to launch PoseiSwap on the Nautilus Layer 3 chain instead of other popular chains like Arbitrum or Optimism?
Chris: Nautilus Chain is developing a highly efficient, modular system, and has devised a unique approach to leverage the benefits of both Optimistic and ZK Rollups.
Initially, the Nautilus chain will use optimistic rollups because their superior compatibility lowers the barrier of entry, allowing PoseiSwap to deploy quickly.
Once the Nautilus ecosystem reaches a certain level of maturity, it will transition to using ZK-rollups and allow for simple migration through its modular infrastructure. This transition will enable full customization, enhanced performance, and lower costs.
Host: For listeners who aren’t yet on the Nautilus chain, can you explain how they can use PoseiSwap and whether or not they can bridge their assets?
Chris: We are already live on the testnet. Users can use a faucet to receive test tokens to try out the application now.
If anyone needs help, feel free to ask questions on our Discord server, and someone from the team will be happy to assist.
When the mainnet is ready, it will be launched in partnership with Multichain.
Host: Are there any plans to launch a utility token for Poseiswap? If so, could you tell us more about its expected utility?
Chris: Yes, the native token will be POSE, which can be mined through staking and providing liquidity.
In order to participate in governance and the PoseiSwap ecosystem, POSE holders will need to bond their tokens for a specified amount of time.
They will receive tokens representing their bonded POSE, which they can then use to receive rewards from governance, staking, referral links, NFTs, lottery tickets, and more.
More info on our Medium.
Host: Could you share with us the current roadmap for PoseiSwap and the expected timeline for launching on the Nautilus mainnet?
Chris: As you can see, PoseiSwap aims to be more than just a decentralized exchange; it is a gateway for extending DeFi’s reach from the web3 to the real world.
PoseiSwap intends to go further by integrating blockchain technology into traditional finance (TradFi) systems.
By 2024, PoseiSwap plans to allow the trading of real-world assets on the DEX. This includes equities, bonds, and physical assets that have been tokenized, in addition to fungible tokens, NFTs, and other digital assets.
This move will bridge the gap between traditional finance and blockchain, creating a new era of financial possibilities.
Host: Are there any ongoing campaigns or events that our listeners can participate in or benefit from right now?
Chris: Yes, currently we are running an NFT OAT campaign.
OAT holders will benefit from future perks; stay tuned to our socials to avoid missing out.
There are 3 OATs available that can be collected by joining the Posei community:
OATs can be claimed at our official PoseiSwap Space on Galxe.
