Hi again, holders! As we have already announced days ago, Holder Finance has partnered with Reflect Finance. Since we want to make sure you are part of all the developments going on, we hosted the third AMA on RFI Telegram group.
If you missed it, don’t worry, here you can find all the information discussed.
In case you want to know more information:
Now let’s start!
Starting Holder Finance AMA
1. Rust: “How do you intend to manage the fee distribution or RFI and ELE?”
Holder limit protocol takes into account inclusive fee tokens like RFI. Therefore, when the trade owner requests a specific trade execution with a particular balance, the transaction will be executed if and only if the return token amount is equal to or above the amount requested. If the amount returned is below the expectation, the transaction reverts. The trade owner will always receive the amount requested and this amount also considers the AMM fee.
How it differs from Uniswap
2. Rust: How does Holder finance stand up to Uniswap? Being the king of volume in DeFi, and the soon update of V3, how will you compete and take some of their market shares?
Our key objective is to extend the current capabilities of the current AMM; Holder Limit is an example of how limit order can be implemented on AMM using our protocol. Thus, the roadmap for our product is to connect this functionality to more AMM like SushiSwap, balancer, and give the end-user one single point of trade limit request using our platform.
We will launch the same service on BSC, using PancakeSwap and to another blockchain soon when volume and AMM with interesting TVL will be available. In this regard, Uniswap V3 is a different AMM, and the core logic needs to be analyzed to exploit successful integration with our ecosystem.
HolderSwap is a decentralized platform using AMM in DEXes to execute the trade when it is profitable on a trade owner’s POV. So basically, we are not competing with DEXes as we are more of an aggregator to DEXes. Thus, it is excellent news for us that Uniswap launches its v3.
All other competitors (forked from v2) will continue to work as currently. This means we will take market shares from them as long as we will be connected to most DEXes like Sushi, Balancer, Mooniswap, etc. So, this is what we call AAT as Automated Arbitrage Trading.
Indeed, Holderswap will provide, to the end-user, the best trade available within all those DEXes, and the end-user will just have to execute the trade once profitable by clicking a single button on our platform.
Rust: Does this include the Bridge to BSC? As I know that’s something our community is itching for.
Yeah as this is MANDATORY for us to bridge our current ERC20 tokens to BSC and be able to launch on PCS yes it will be sooner than later 🙂
The SC is already done and currently in hard testing on Ropsten. Once testing is done, we will send it for the audit from our partner CTDsec.
What’s new in the next release?
3. “Ready to release it next week” what will be functional on release? will it be your full-stack?
This week we are releasing our HolderLimit protocol on PCS. So basically, users will be able to place limit orders on PCS via our platform. Then, next week we are releasing our bridge protocol for HFS & HFi. The full-stack product will be fully ready in May, the timing we choose to launch HFS and HFi on PCS 🙂
Rust: For the sake of clarity, what is the difference between HFI and HFS?
So we have a medium article for this exact question. Let me share this with you guys. Find the article here.
How you can save gas!
4. How does the reduced fee on the Holder Limit Protocol work? Can you give an example, please?
Currently, our protocol is working, live, and entirely on-chain, so the executor has to pay gas as well as the trade owner when he/she places or cancels his/her trade.
We are implementing a gasless protocol called Metadata (Chainlink has integrated it on its network in March). The metadata protocol is an off-chain script that stores signatures from traders in an off-chain secured database. The respective trade owners own all the signatures. So, this feature will allow them to place or cancel limit orders on our platform FREE of gas as they don’t write in the blockchain.
Once profitable, any user on the platform can execute the trade on behalf of the trade owner. The user can batch several tx in one block to save up to 15% gas fees through a batched signature. By setting priorly a reward fee, the executor can cover the gas cost and make profits by only executing trades.
So, the trade owner places limit orders, free of gas, and can make profits according to the market while working or sleeping: a piece of cake 🙂
Example of how does this work
RFI holder A places an order limit on our platform free of gas and he wants to buy 1000 RFI with 1,000 USDC. Then he goes to sleep. During the night, the price pumps from 0.80$ to 1.10 per RFI.
HolderSwap user A sets a reward fee at 12% (a greedy boy, lol), while user B sets his reward fee 9%. At an RFI price on Uniswap at 1.10$ per RFI, the trade appears profitable for user B but not for user A. Then user B executes the work. The trade owner receives AT LEAST 1,000 RFI, and user B, who executed the trade, pays for the gas and receives 90 USDC directly in its wallet.
Once the trade executes, both the trade owner and trade executor will collect a reward in HFS, and for each reward, as 1 HFS minted, the trade owner collects 0.25 HFS, the trade executor collects 0.40 HFS, 0.10 HFS is sent into an escrow wallet for operations, marketing, and further developments of the platform. All the holders can collect 0.25 HFS according to their stack.
The user dashboard shows the amount of HFS collected, and the user can claim its tokens anytime by paying gas fees in BSC.
More visibility and next steps
8. It appears that the gasless transactions are achieved by grouping buyers and sellers together. What are the marketing plans to get more users for holder Finance?
Yes indeed! therefore we have taken some well-thought measures for getting much-needed exposure.
- Firstly, this month, we are taking the marketing actions to the next level:
- On one side, we are about to start posting banners in a campaign by Coinzilla, which is a versatile service to distribute ads to crypto users. With this campaign, we are willing to reach a wider audience, raise awareness about our product, and welcome new users to our growing community.
- Secondly, we are working again with the influencer DMTLand_ on Twitter.
- In the meantime, we are also updating our social accounts to have better synergy with the brand.
- Finally, will implement SEO updates to get organic traffic from now on.
- It is important to highlight our contact by other projects willing to join our ecosystem.
Bridge building and benefits
5. Rust: Can you explain a bit about the bridge you are building between BSC and ETH? How it would work for a project (like RFI) that wants to utilize it?
The bridge has two key components, the gateway or border router and the bridge engine. The gateway is responsible for collecting specific ERC20 tokens on the border and locking them inside the contract; the respective gateway on the other blockchain (e.g., Binance smart Chain) is responsible for releasing the respective ERC20 on the specific wallet address.
The bridge engine supervises this flow and it runs off-chain, looking for events (WRAP and UNWRAP) coming from the two blockchains. It also has administrative rights to WRAP and UNWRAP tokens according to the TX performed by the end-user.
Thus, developing our bridge protocol for a project like RFI (including the share fee) needs to work closely with the RFI devs team on an exact roadmap. It will surely take some time. However, I already designed the architecture of the protocol for this kind of technical behavior, and there already exists few different options to proceed.
Last question | Open questions from users!
@nickhhh: I have seen some bridges atm that are costing around $200-$400 to transfer cross-chain. Is it likely your bridge will be similar?
The gateway will execute the mint-wrap and burn-unwrap actions as a standard ERC20 transfer. So the cost will be lower.
Wrapping a token means we burn this token on ETH and mint a new one on BSC. These are 2 specific actions performed in 2 different blockchains and are similar to the transfer method in terms of gas cost. Having tested this recently, in Ethereum it was around $16 🙂
And these are all the questions answered during Holder Finance AMA with Reflect Finance. We hope you have clearer information about our project and we invite you to stay informed about what is coming next.