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Topic: [ANN] Multiswap protocol: all-in-one DeFi (Read 278 times)

hero member
Activity: 1778
Merit: 709
[Nope]No hype delivers more than hope
November 25, 2020, 12:34:25 AM
#11
Point #1: neither of us is a native English speaker. Writing a technical paper in a foreign language is not as easy as I'm sure you can try to understand.
Write in your native language. What has convinced you that the writing you have plagiarized was written by a native speaker?
People don't care about bad English, but how does your whitepaper describe your real idea so that the originality of the project idea can be assessed there. If you reason that you are not a native speaker, then plagiarizing someone else's idea is not a solution.

Point #2: we have signed legal agreements with a few large investors to produce the Multiswap protocol's infrastructure, there's nothing about whitepaper in our agreements but we did it anyway, because well, it's pretty standard for crypto projects, and yet, technically we could have had no whitepaper at all.
So what documents have you served to convince investors without a whitepaper?

If you feel compelled to report anything we can't stop you, but with this, we ask you kindly to end this discussion.
It's been reported. Please state your next defense here. https://bitcointalksearch.org/topic/--5292895
newbie
Activity: 4
Merit: 0
November 24, 2020, 04:53:05 PM
#10
Hi everyone and thank you for taking interest. I'll try to respond to everyone.  Smiley

You should understand where I am coming from.
Being a part of crypto community we do understand that this space is still very fishy and there are a lot of bad actors out there. I would like to explain where we are coming from, if you don't mind.  Smiley And we (Multiswap team) are coming from an European country, our team consists of 3 members - 2 developers and a graphics designer.
Point #1: neither of us is a native English speaker. Writing a technical paper in a foreign language is not as easy as I'm sure you can try to understand.
Point #2: we have signed legal agreements with a few large investors to produce the Multiswap protocol's infrastructure, there's nothing about whitepaper in our agreements but we did it anyway, because well, it's pretty standard for crypto projects, and yet, technically we could have had no whitepaper at all.
Point #3: we used bits from the different sources'/products' technical documentations that are open source and that we are going to use, it's not like we just straight copied some single project and presented as a new.
Point #4: our priorities are a bit different than rewriting a perfectly fine original source in different words. Where's productivity in that, one might wonder? Yes, we could hire someone for $50 to rewrite a couple of paragraphs in different words, and maybe we will, would that make the project "not scam"?...

Now, we are going to fix the whitepaper when we have the time, sometime soon. Hopefully this week, 100% next week. If you feel compelled to report anything we can't stop you, but with this, we ask you kindly to end this discussion.

So MSWAP is a utility token and it is valuable for many reasons but the main is protocol’s governance voting as I understood
Pretty close, yes. Smiley You can use MSWAP tokens for 2 purposes:
1. To take part in protocol’s governance, by voting on upgrades and updates of the protocol.
2. To take part in token voting and receive financial rewards for doing so. I'll explain this a bit further in a response to a person below.

As far as I understand, from the investor's point of view, the main incentive to own MSWAP is 5% of fees you receive for voting, but I don't really understand how that works.  Grin Huh
Correct, financial incentive should be really attractive.  Cool
When a user opens Multiswap app, the currency with largest vote pool is displayed first.
Let's use this image for reference:
https://mswap.org/media/Multiswap-pool-interface.png
In this example, ETH is first (presumably it has most MSWAP locked in its vote pool). If a user clicked on it or the [Select token] button, they would see a larger list of currencies.
The list of currencies is automatically sorted by their vote pool's size. The more MSWAP tokens are locked in currencies vote pool, the higher said currency will appear on the list for all users of Multiswap app.
The reason for this is: that makes an interface self sustainable - administrator or anyone else doesn't have to update the list. It's fair and unbiased, and decentralized.
The reason it will work is because voters receive 5% of fees and interest for the currency they are voting, so we can assume that voting pools will naturally sort in size in descending order from the most desired and largest volume cryptocurrencies to the smallest.

Now, the financial incentive should be really significant, depending on the volume of course, but here, allow me to make an example. Let's assume cryptocurrency XYZ daily volume is 10M USD. The approximate average swap fee is ~0.27%. That means that $27,000 is collected in fees. 95% of that goes to liquidity providers (who well deserve it), 5% of fees, which makes $1,350 goes to vote pool of XYZ currency and is distributed to everyone accordingly to their share who is voting for XYZ currency by depositing their MSWAP tokens in the pool.

Please also see this image which might better illustrate it:
https://i.imgur.com/xeGwKTv.png
newbie
Activity: 20
Merit: 0
November 24, 2020, 02:01:19 PM
#9
So MSWAP is a utility token and it is valuable for many reasons but the main is protocol’s governance voting as I understood

As far as I understand, from the investor's point of view, the main incentive to own MSWAP is 5% of fees you receive for voting, but I don't really understand how that works.  Grin Huh
hero member
Activity: 1778
Merit: 709
[Nope]No hype delivers more than hope
November 24, 2020, 12:01:12 PM
#8
Dude, why are you so hostile towards this project, lol. So Thrim and Unitrade (the ones that you posted) has same stuff in their whitepaper, did you report them too?  I don't know, out of literally hundreds of exact copy-cats shitswaps nowadays this one actually looks original.

We are always hostile to plagiarists, because it shows they are not serious about making something, moreover it will risk harming other people. The accusations made are objective and include concrete evidence. However, you can have different perceptions about the accusations. Usually people who are careful will have more confidence in the opinions of many people.
newbie
Activity: 20
Merit: 0
November 24, 2020, 09:04:23 AM
#7
So MSWAP is a utility token and it is valuable for many reasons but the main is protocol’s governance voting as I understood
hero member
Activity: 2268
Merit: 789
November 24, 2020, 12:41:24 AM
#6
Dude, why are you so hostile towards this project, lol. So Thrim and Unitrade (the ones that you posted) has same stuff in their whitepaper, did you report them too?  I don't know, out of literally hundreds of exact copy-cats shitswaps nowadays this one actually looks original.

Easy, because their whitepaper contained plagiarized contents which cannot be tolerated at all cost in this forum. There have been countless of cases where people lost their money due to tons of fake projects (which contained fake team members and plagiarized whitepapers) posted in the ANN board. We, members of this forum, have the imperative duty to report and to doubt any project which constitutes a prima facie evidence of a fake project (plagiarized whitepapers, fake team members, etc.).

I guess you will never understand until you experience being the victim of such project.

Quote
So Thrim and Unitrade (the ones that you posted) has same stuff in their whitepaper, did you report them too?  I don't know, out of literally hundreds of exact copy-cats shitswaps nowadays this one actually looks original.

The difference is, this project has been posted in this forum and majority of the members here can see it. Though there have been times that I also reported projects not posted in this forum, the fact that it has more visibility and potential for people to invest it is more reason for me to report this project.
newbie
Activity: 20
Merit: 0
November 23, 2020, 05:43:35 PM
#5
You should understand where I am coming from.

Dude, why are you so hostile towards this project, lol. So Thrim and Unitrade (the ones that you posted) has same stuff in their whitepaper, did you report them too?  I don't know, out of literally hundreds of exact copy-cats shitswaps nowadays this one actually looks original.
hero member
Activity: 2268
Merit: 789
November 23, 2020, 01:41:55 PM
#4
Hello, your accusation is well acknowledged. We admit parts of the text was "borrowed" from elsewhere and it's truly embarrassing, only the relevant parts however such as about DeFi in general or price oracle that we're integrating too, or multichain, which is also going to be used in Multiswap protocol, since the whole protocol is kind of an assemblage of different DeFi products into one. A few paragraphs of text doesn't make a whole project a scam, we hope you can understand. Anyhow, we fully admit the wrongdoing and apologize, and will fix it ASAP.

You should understand where I am coming from. If you were the ones who created the project from the very beginning, I honestly do not see the need on why you would copy and plagiarizied (not "borrowed") the contents of your project. I do understand that most projects nowadays have the same general information but is that difficult for you guys to create something original instead of copying it from other projects as well?

I am on the fence if I should create a scam accusation against your project. I would be checking your whitepaper by tomorrow and if the contents are the same and are unchanged, then I would be compelled to create an accusation.
newbie
Activity: 4
Merit: 0
November 23, 2020, 12:30:29 PM
#3
Hi upon checking...
Hello, your accusation is well acknowledged. We admit parts of the text was "borrowed" from elsewhere and it's truly embarrassing, only the relevant parts however such as about DeFi in general or price oracle that we're integrating too, or multichain, which is also going to be used in Multiswap protocol, since the whole protocol is kind of an assemblage of different DeFi products into one. A few paragraphs of text doesn't make a whole project a scam, we hope you can understand. Anyhow, we fully admit the wrongdoing and apologize, and will fix it ASAP.

Website looks pretty good as for me but I don't why does road map don't have any dates but only things which should be done Huh It is unusual and uncomfortable I think
Hi there! Thank you for some positivity.  Cheesy There were dates originally but we decided to remove them. Our reason being that we have seen so many other projects draw timelines for themselves and then being publicly shamed when they fail to meet them. People in this space are quick to shout words like "scam", and for the most part not without a reason, but we decided it's best we don't tie a noose on our necks just yet.
About the roadmap, everything is in active development stage right now. We expect to have the product ready for launch around Q2 of 2021. You should know we are legally obliged to some of the early investors to deliver.
hero member
Activity: 2268
Merit: 789
November 23, 2020, 03:16:40 AM
#2
Hi upon checking the contents of the whitepaper of Multiswap, I observed that parts of its contents were copied from several sources without giving due regard and recognition to the original source. Should you ignore my accusation, I will be compelled to create a scam accusation against this project. Kindly check the reference below, thanks!

REFERENCE:

ARCHIVED: https://archive.fo/fDGxW







...to be continued
newbie
Activity: 4
Merit: 0
November 22, 2020, 03:59:42 PM
#1
What is Multiswap?

     Not to be confused by its name, Multiswap is not just another decentralized exchange -  it is a set of DeFi protocols merged into one self-sustainable infrastructure.
As you might be well aware, DeFi is currently on the rise, however it is still in its infancy form. Many of the protocols out there do just one thing or another, therefore the entire ecosystem is unnecessarily complex and risky, because users have to move their assets between addresses and platforms often, grant access to their wallets to within multiple applications, as well as to learn using different user interfaces. Multiswap aims to create a simple, all in one solution that not only connects all the best features of DeFi, but to also improve them.
Multiswap is an entire technological stack of DeFi solutions, built as a fully decentralized and autonomous infrastructure, managed by smart contracts, on top of which additional applications can be built.



What are the features?

     Amongst the other standard DEX features (such as swaps, collateral lending, OTC trading, adaptive fees etc.), some of the main features would be:
  • Multipools - users of Multiswap protocol, when providing liquidity to a swap pool, may choose to assign same assets to lending pool as well, or otherwise – Multipool, without losing capability to modify any of lending options. Multipool’s purpose is to maximize returns for liquidity providers, since liquidity is the backbone of decentralized finance.
  • Token vote - token voting pools are separate from liquidity pools and are used to determine token's position on the list for ALL users of Multiswap protocol. Vote pool's size is determined by the total amount of MSWAP in the pool. For example, if there are 1000 MSWAP locked in ETH vote pool and 700 MSWAP in BAT vote pool, users will see ETH as first on the list, BAT will be next on the list and so on. Vote pools receive 5% of all fees collected by all other pools of the currency they are voting for, which is then distributed to voters accordingly to their share in said pool.
  • Crosschain interoperability - With the help of Multichain API, users and developers will be able to use not only ERC-20 tokens, but virtually any coin from any blockchain on Multiswap platform. At the time of writing there already is support for Bitcoin, Bitcoin Cash and ZCash blockchains and more are going to be integrated in the future.



What is Multiswap token?

     Multiswap token (MSWAP) contract (https://etherscan.io/token/0x929c60295b8ac2e5cbbe8160fa7027c610111146) was deployed on Ethereum block #11295203. MSWAP has a fixed supply cap of 150 million (150,000,000) tokens. Multiswap conducted a presale in 2020, during which a total of 30% of the supply was sold to investors. Multiswap team has a reserve fund which is 50% of the total supply and is used to provide initial liquidity on exchanges, while another 10% (not yet minted) is allocated internally to the team. Another 10% (not yet minted) of the MSWAP supply is specifically intended for activities such as partnerships and development.
Shortly after a full protocol launch any tokens of the 50% (initially used to provide liquidity) that will not yet be in general public's will be burned.

What is the utility of Multiswap token?

  • Protocol’s Governance voting is weighted by MSWAP for decisions related to protocol parameters and upgrades of the smart contract. It can be compared to MakerDAO’s governance where stakeholders vote on current and future parameters of the protocol.
  • Vote pools’ governance, where one’s governance is weighted based on their share in the pool.
  • Vote pool’s size of a certain currency determines said currencies position on the list for ALL users of Multiswap app.
  • Vote pools receive 5% of fees and interest collected from lending and swap pools for the currency they vote for.


Learn more. Useful links.

Multiswap website: https://mswap.org
Whitepaper: https://mswap.org/media/Whitepaper.pdf
Discord: https://discord.gg/Vh6qBc6GFw
MSWAP is currently listed on Uniswap V2 platform (https://app.uniswap.org/#/swap?outputCurrency=0x929c60295b8ac2e5cbbe8160fa7027c610111146)
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