Recap: AMA with O3 Labs
On 19/11/2021 at 7:00 AM (UTC), an AMA session was held on HurricaneSwap with special guest Matt, Communications Director of O3 Labs. The following is a summary of the content of the entire AMA.
HOST | HurricaneSwap
Welcome everyone to the O3 Swap AMA!
Today, we’re going to do an overview of this promising project.Now, let’s give a warm welcome to our esteemed guest, Matt, the communications director of the O3 Swap team. Are you ready to lock horns with our vibrant community?
Matt | O3 Communications Director
Yes, thanks so much for having me here in your awesome community! Whether I’m ready or not, it’s happening! Let’s do it!
Part I Introduction to O3
HOST | HurricaneSwap
To begin with, could you tell us about how you entered the crypto space and how your background contributed to your early successes?
Matt | O3 Communications Director
Absolutely! I think it’s a pretty good story.
I worked in communications for a Fortune 500 software company in the USA when I first learned of Bitcoin and cryptocurrency in 2017. I’ve been an investor and blockchain enthusiast since that time. I have made many mistakes a long the way, but on the whole I’ve done really well in identifying worthwhile projects to invest in.
I joined O3 Labs in 2020 shortly after meeting the CEO at a blockchain meetup in Shanghai. I was arguing with a group about how certain investments are foolhardy because they’re not decentralized and that paves the way for manipulation. He was thrilled with my passion for crypto and brought me into the growing company almost immediately.
I was similarly excited to get started. Now, as Communications Director, I focus on building partnerships with other organizations within the space as well as managing our social media platforms on Twitter and Medium in addition to our marketing campaigns.
HOST | HurricaneSwap
Very impressive! It is an honor to have you here with us today. Let’s move on to the next question.
What is your project exactly and can you tell us more about your vision?
Matt | O3 Communications Director
It’s an honor to be here too!
So from the user’s perspective O3 Swap essentially functions as a cross-chain decentralized exchange or DEX as they’re called.
In reality, it’s not a DEX, but an aggregator. O3 Swap V1 currently aggregates or sources liquidity from various decentralized exchanges across chains 6 different chains (ETH, Arbitrum, Polygon, HECO, BSC, and Neo). O3 Labs also has a cross-chain stable pool on the O3 Swap site where users can trade safely and simply across chains if they want to move the same token to a different chain. These swaps all come from and to their decentralized wallets.
Currently we’re on 6 different chains, but we’ll be on 10, including Avalanche, by the end of the month. Our vision for the next iteration of O3 Swap, O3 Swap V2, is to actually realize a cross-chain DEX that functions on Ethereum and all other EVM compatible chains. That vision will come to fruition over the course of the next few weeks. After that, we’ll institute a DAO that will give the power to our users to make proposals and vote on changes to the protocol.
Currently in our portfolio of products, we have O3 Wallet, $O3 coin (a cross-chain crypto with a hard cap of 100M total supply), and O3 Swap V1 with O3 swap V2 incoming as I stated!
HOST | HurricaneSwap
I can see that you’ve accomplished a lot so far. Really looking forward to your future features and products!
Matt | O3 Communications Director
Yes, but there’s still so much potential and so much more to come！We’re looking forward to the partnership with HurricaneSwap!
HOST | HurricaneSwap
Looking forward to it as well. Super excited!
Next question:
What are some of the competitors you’ve identified (crypto or non-crypto) and how are you different?
Matt | O3 Communications Director
Other cross chain protocols or bridges are our direct competitors, but we are not concerned since we see each project as a potential partner for expanding the ecosystem and bringing users more benefits in DeFi. Certainly, we see centralized exchanges as competitors too; however, I must add that there is room in the space for many winners!
As far as our advantages:
(1) O3 is the first DeFi project to build a cross-chain trading pool. The pool will allow for the open exchange of various assets which span multiple blockchain networks, and provide a single token mining pool for multi-chain assets.
(2) O3 combines with liquidity aggregation and trade mining, we will provide the best price and routes for traders. Our fee is just 0.03% as well! At the same time, traders can also earn rewards from each transaction on O3 Swap on V2.
(3) O3 Swap has an innovative economic model where we will share the revenue from O3 Swap with O3 traders and stakers. It should attract more and more people to participate on our platform.
Lastly, in stark contrast to centralized exchanges, users need not log in, do KYC or provide identification. All they must do is sign using their signatures in their decentralized wallets. We currently support O3 Wallet and Metamask with more wallets coming in the near future!
If we do our jobs correctly and make our product truly useful and bring benefits to the users while also marketing it effectively, then we need not worry about our competitors because we’ll have the best solution to the problems in the crypto space.
HOST | HurricaneSwap
I can see how O3 differentiates itself from others. I too believe that there is no forever competitor. There will always be potential cooperation opportunities.
Moving on to the next question:
NFT has been such a hot topic recently. I heard that you have your NFT collection, right? Could you tell us more about it?
Matt | O3 Communications Director
Yes, of course. We created a collection of HackerPunks!
We released the first batch of our NFT collection — “O3 Hacker Punks” on Oct. 10 2021. “O3 Hacker Punks” is a limited edition collection that’s scarce. It aims to commemorate the largest hacking event in the history of cryptocurrency dubbed the Mr. White Hat hack!
Besides the symbol it has for our community, these NFTs are also the only token for mining our governance token when O3 swap V2 goes live.
So, how can you get them? You can get these NFTs by staking and burning O3 on O3swap.com/hub, trading them on Opensea via this link: https://opensea.io/collection/o3-hacker-punks, or receiving them from some of our special airdrop events.
There is a hard cap of 10,000 on these HackerPunks and we expect the floor to rise quickly upon the release of O3 Swap V2 due to their functionality within our protocol.
HOST | HurricaneSwap
Sounds promising!
So many people (including me) are interested in it. I’m sure our community members want to know more about your mining event.
Could you tell us what is your mining event about? How can we join this event?
Matt | O3 Communications Director
Absolutely! That’s why I’m here, to get your community some awesome rewards!
Everytime when we launch on a new chain, we will open our icing sugar mining pool in our vault — https://o3swap.com/vault with several top projects like Hurricane in a pool on the chain! Our launch on Avalanche on 11/22/2021 at 4am UTC is no different!
A little after that time, users will be able to stake their $HCT token to earn $O3 rewards at a high APY (usually ranges from 900–200%). This event usually lasts just 5–6 days, so its best to stake early to get the maximum reward.
You can claim your rewards and unstake your token anytime when you start earning, and unlock your rewards by providing LP to Trader Joe!
HOST | HurricaneSwap
Very impressive! Can’t wait for you to launch on the Avalanche chain!
Matt | O3 Communications Director
Thanks so much for your support!
Part II Panel: About Avalanche
HOST | HurricaneSwap
Now let’s jump into the exciting panel session to hear more about your opinions of Avalanche Eco!
First, let’s welcome @Symington_Smith to join us!
Symington Smith | HurricaneSwap
Hi Everyone!
Hi Matt, thanks for being here and sharing all the amazing achievements you made! Also, welcome to Avalanche, we’re looking forward to the partnership with O3.
Matt | O3 Communications Director
More to come! And we’re so thrilled to be partners!
HOST | HurricaneSwap
The question of today’s panel is about Avalanche.
Why did you choose to build on Avalanche and how does your project benefit the entire Avalanche ecosystem?
Matt | O3 Communications Director
Avalanche is a huge platform, a great scalability solution, and its ecosystem is growing quickly as many good projects like HurricaneSwap are onboarding everyday. Bringing O3 Swap to Avalanche was a no brainer! If you’re not growing in this space, you’re dying!
The best way to benefit the entire Avalanche ecosystem is by connecting to the AMM’s like Hurricane here and providing the cross-chain tech necessary to bring liquidity and users to the network.
Symington Smith | HurricaneSwap
Couldn’t agree more. Avalanche is designed for DeFi. And it is powerful enough to provide us with the best development space at the moment.
Matt | O3 Communications Director
Currently Avalanche has their own bridge for this, but users on different chains might not be aware of it.
Symington Smith | HurricaneSwap
Yes, and I think cross-chain bridge is different from cross-chain DEX, the whole point of DEX is about trading, so it is no harm for users to have more choices.
Matt | O3 Communications Director
In my opinion, Avalanche is more advanced than Ethereum in many key ways. While trading at a significantly faster speed, higher security, and much lower gas fees, this is overwriting the limitations of Ethereum, bringing a revolution to both CEXs and DEXs.
Matt | O3 Communications Director
Agreed! With O3 Swap, users on Avalanche will be able to enjoy safe and efficient swaps without limitations, so if they actively trade across chains they’ll have a patented and useful switch coin in $O3 to use and a protocol to bridge and swap across other chains in O3 Swap too.
Symington Smith | HurricaneSwap
I believe O3 and Hurricane, we all see the potential of Avalanche, and also the huge demand for cross-chain trading. That’s why we build here.
Matt | O3 Communications Director
Right!
Symington Smith | HurricaneSwap
The transactions on Avalanche are very active, which provides good user support for the development of DeFi.
Symington Smith | HurricaneSwap
However, when we see the data of the X chain and the C chain, the number of users participating in the Avalanche ecosystem is far fewer than the holders and traders of $AVAX.
Matt | O3 Communications Director
The chain has grown like wildfire largely thanks to the amazing strategic investments of the organization behind it.
Symington Smith | HurricaneSwap
Which means a large number of users have recognized the value of Avalanche, but they don’t involve the Avalanche ecology in more depth.
That’s the moment we realize that there’s a huge opportunity to build a cross-chain swap on Avalanche.
Matt | O3 Communications Director
A common problem that can only be solved by teaching users how to get involved and the overwhelming benefits of getting involved.
One must understand that the average American (I‘m American) doesn’t even know how to use a CEX very clearly, let alone a DEX or a hot wallet.
Symington Smith | HurricaneSwap
I believe that’s what we all want to see.
Matt | O3 Communications Director
My brother, for instance, just set up his Metamask recently at my insistence.
Symington Smith | HurricaneSwap
That’s so cool!! Good for him!
Matt | O3 Communications Director
Haha a little late in my opinion! He believes he’s early!
HOST | HurricaneSwap
Guess you could teach him how to use O3 Swap and HurricaneSwap as well.
Matt | O3 Communications Director
It’s a process!
Symington Smith | HurricaneSwap
More solutions and choices. More people involved. More possibility for all of us.
HOST | HurricaneSwap
Thank you both for your amazing answers! I can see how enthusiastic both of you are about the Avalanche Ecosystem and the crypto world. I’m sure with great cooperation, together we can take the Eco to the next level!
Thank you again Symington for joining us in this panel.
Matt | O3 Communications Director
Thanks bud, Symington!
Symington Smith | HurricaneSwap
Okay thank you too and wish you guys all well.
Part III Questions on Twitter
HOST | HurricaneSwap
Now let’s dive into the third part and ask the 2 questions from Twitter.
First up from our supporter over on Twitter comes from @CryptoAfridi who asks:
why would we use your wallet instead of other web3 wallets like metamask which is already supported by Hurticaneswap? And are you guys have any links / partnership with Avax?
Matt | O3 Communications Director
Actually, we support both O3 Wallet and Metamask on O3 Swap, so we’ve got that covered already! Why would we use our own wallet? Because we had over 50k users of that wallet and we believe in our product. O3 Wallet is the only mobile app that can make cross-chain swaps from a smart phone.
As for Avax partnerships, we’re holding the Icing Sugar Mining event with Avax’s top projects in the ecosystem like Hurricane, Trader Joe, and Pangolin among others. The event will start on 11/22 at 4am UTC and users can stake their $HCT at o3swap.com/vault shortly after that time.
HOST | HurricaneSwap
Can’t wait for this to happen!
Moving on to the second question from Twitter — @pandalucu66: We know that O3 has just launched nft, and we know that O3 will launch a new mining model, then the role of O3 tokens in it is only to exchange for nft? One of the roles of nft is to continue mining to obtain O3, so is the actual role of O3 tokens replaced by nft?
Matt | O3 Communications Director
Staking $O3 will have a role in obtaining the NFT without buying it on OpenSea and the NFT will be able to be staked to earn our governance token, so becoming a relayer or representative in the DAO is actually quite difficult. Moreover, $O3 is a token that exists on many different chains and can effectively function as a switch coin besides its relationship with governance. Lastly, we plan to slowly but surely burn coins as our protocols’ swaps continue to make the coin more and more scarce.
Ah, and I forgot to mention, all promotional activities and contests run by the marketing team will have a function for $O3 built into the architecture of the events as well.
HOST | HurricaneSwap
So better get the coins now.
Both are very interesting questions and Matt has provided great insight. Thank you again.
Matt | O3 Communications Director
Yea users can buy coins on a bunch of different CEXs like huobi, gate.io, mexc, bitmart or poloniex!
Part IV Live Questions
HOST | HurricaneSwap
Now, last but not the least, I’m going to unmute the room for a couple of minutes and let Matt pick 3 magical questions from our enchanting community.
Vanessa
Q1: Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Matt | O3 Communications Director
Token holders will have a right to stake their tokens to earn the NFT, then stake that to earn a new governance token. They’ll be able to make proposals for changes to the network that their voted representatives can choose to consider before bringing it to the developers for executing the idea on the platform, provided it’s feasible.
OsWaldo Hite
Q2: While you build your project, do you take into account community feedbacks and demands?While you build your project, do you take into account community feedbacks and demands?
Matt | O3 Communications Director
Yes, absolutely! We recently adopted an idea brought to us by our community manager regarding our massively successful Halloween event in which we gave away 20k+ in $O3 to our users simply for changing their profile photo on Twitter and filling out a Google form. We’ve got two more ideas directly from the community in the works too! It takes some time to develop securely though!
OletaWiles
Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?
Matt | O3 Communications Director
Users can buy our $O3 token via huobi, mexc, bitmart, or poloniex or copy the contract address below to buy it on a DEX like Uniswap, MDEX, pancakeswap, quickswap and soon Trader Joe!
Here’s our contract address: 0xee9801669c6138e84bd50deb500827b776777d28
HOST | HurricaneSwap
Thanks for all your great answers! This has been really awesome.
HOST | HurricaneSwap
GUYS, If you want to know more about O3, pls follow the Twitter: https://twitter.com/O3_Labs
Besides, there will be a NEW farm on HurricaneSwap next Monday: O3/HCT
Stake Here: https://farm.hurricaneswap.com
What’s more on next Monday, you can also stake your HCT in O3’s icing sugar mining pool to earn $O3 rewards. Stake Here: https://o3swap.com/vault
Matt | O3 Communications Director
The benefits of buying the coin include governance capabilities, switch coin compatibility, and staking to earn more $O3 at O3swap.com/hub which is the same place where you can stake $HCT starting on November 22nd!
Yes, feel free to follow us on Twitter @O3_Labs!
HOST | HurricaneSwap
Looking forward to participating in it!
Matt | O3 Communications Director
We look forward to serving the awesome HurricaneSwap community! Follow us and we’ll have more events with this thriving community in the future!
HOST | HurricaneSwap
Thanks again Matt, hope we can talk more in the future! I’m sure we’ll collaborate on more grounds!
About O3 SWAP
O3 Swap is a proprietary cross-chain aggregation protocol built by O3 Labs. The mission of O3 Swap is to provide consumers access to cryptocurrency-based, financial services, allowing them to exchange, or ‘swap’, various digital assets within their O3 Wallet.
About HurricaneSwap
HurricaneSwap is the 1st cross-chain liquidity DEX based on Avalanche. With the innovative LP-Bridge mechanism (Roke Protocol), users can trade popular assets of other chains without leaving Avalanche. Taking advantage of Avalanche, HurricaneSwap provides users with a high-performance, low slippage, low cost, and seamless cross-chain trading experience.
