On March 22th 2022, our community had a chance to welcome Menard Co-Founder of Forbitspace & Nina CMO of Forbitspace to join an AMA to deliver fruitful information about the key features and roadmap of the project.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the latest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
Forbitspace (https://forbitspace.com/) is a super aggregator protocol
At this AMA, Forbitspace directly greeted the community and provided detailed information on the project as well as some exciting events that will be held in the near future.
Time: 20:00 PM (UTC+7) | Tuesday, March 22th, 2022
Venue: https://t.me/CryptoFamilyVN
Reward Pool: $200 for members with the best questions
Below are some main points of this AMA session:
PART I: OVERVIEW QUESTIONS
- To kickstart today’s AMA, please introduce briefly about your team and some key features of Forbitspace.
Forbitspace: Let me give you a brief introduction of CEO and Founder of Forbitspace, Mr. Baroda. Before entering the crypto space, he was an expert in marketing and market research. He’s been involved in the digital asset ecosystem since 2016 and worked with and advised a variety of blockchain projects.
When participating in some blockchain events in the Asian market, he saw a huge demand for the Blockchain space, especially the decentralized financial market. That’s one of the reasons he started Forbitspace.
And Co-founder of Forbitspace is Mr. Menard. He is also present at this AMA with us. He is a financial strategist, fund manager, analyst, and currency trader. He has more than 9 years of experience in the financial market. He also participated in multiple trading and cryptocurrency events in Dubai, Thailand, Vietnam, Singapore, and Hongkong.
Most of the team members of forbitspace are located in Vietnam and the Philippines. We have trade and business teams in Thailand, the Philippines, and Singapore.
About forbitspace – The DEX Super Aggregator, this protocol brings a decentralized crypto aggregator that connects various blockchain networks for easy interoperability. forbitspace protocol has officially supported Ethereum, Binance smart Chain, Polygon, Avalanche and is launching soon on Arbitrum and Optimism networks.
forbitspace provides users with many utilities to optimize their experience on the forbitspace platform:
Firstly, Aggregation Protocol: An interoperability protocol that connects diverse blockchains, decentralized apps, and liquidity across blockchains, allowing easy transactions in, out, and across networks.
Secondly, Liquidity Pool: You can use FBS tokens to supply liquidity to pools and earn extra rewards for engaging in liquidity mining programs.
Thirdly, Limit Order Protocol: A limit order specifies a price at which you want to purchase or sell and is only executed if the market reaches that price. Limit orders are performed at a predetermined price that is often better than the current market price, as opposed to market orders, which are executed instantly.
Next, Derivative Protocol: It’s utilized to make unique assets by combining forward-thinking features like price locking and the ability to buy or sell an asset. Synthetics are the very underlying asset representative of other assets, and forbitspace employs a contract that represents an asset bought or sold at a future date for a future price.
And, Self-custody: forbitspace provides some self-custody applications for you such as Bridge Space, Mobile wallets, Smart contract wallets, and Asset management. Your money becomes empowered and you can store it, lend it, trade it, zap it, and track it in real-time. To sum up, you are 100% in control of your assets, similar to cash.
We have launched the forbitspace – The DEX Super Aggregator with support on 4 mainnets, including Ethereum, BNB Chain, Polygon, and Avalanche. Besides that, we also launched the fundraising platform – IDO flyby Launchpad.
- Next, please share with us the roadmap of Forbitspace in the coming time.
Forbitspace: We are currently busy with the development of other platforms including our NFTSpace Marketplace and forbitswap, an open-source DEX that works under the AMM protocol, also supports 4 mainnets like forbitspace – The DEX Super Aggregator and still expanding to other networks soon. We aim to upgrade the Forbitspace version to optimize and improve the user experience and also plan to create a crypto wallet under the Forbitspace brand that will connect with decentralized exchanges.
Moreover, forbitspace will release forbitspace layer 2 and Bridge Space, a Cross-chain Bridge, which allows users to swap tokens on different blockchains easily and conveniently. It also enables users to access the benefits of different blockchain technologies without choosing between platforms.
You can see the details in this image:
- Could you please update some latest news or big events of Forbitspace in the coming time?
Forbitspace: I’d love to announce to you guys that the forbitspace’s referral reward “Earn and Explore the Super Space” is currently available with the reward rules as follows:
– An address will receive 99 FBS when successfully referring a new user to make a transaction on forbitspace.
– One address can share the referral code to 99 other addresses.
– Each account will receive up to 9801 FBS in total value.
– The forbitspace Referral Reward has maximum liquidity of 9,999,999 FBS and is supported on multiple major nets, including ERC20, BEP20, AVALANCHE, SLP, and POLYGON.
Step-by-Step Guideline for ”forbitspace Referral Program”:
1) Go to forbitspace website https://app.forbitspace.com/#/swap
2) Connect your wallet.
3) Click on the ‘Referral Reward’ button right above the referral link on the right side of the page & copy your referral link.
4) Share the referral link in any suitable way.
5) Start receiving referral rewards right at your Ethereum wallet, BNB Chain, Polygon, Avalanche wallet address.
In addition, we are also going to IDO on flybylaunchpad, you can buy FBS tokens with starting price here: https://app.flybylaunchpad.com/. The IDO will take place soon. Please stay tuned!
Moreover, we are also working hard on the top 5 CEXs to list our FBS tokens on those exchanges, follow us through our media channels for any updates
PART II: PRE-COLLECTED QUESTIONS FROM TWITTER
- From @Jasonnmoree
There are not many cryptocurrency options trading platforms on the market. Can you share some things that novice users need to pay attention to when trading options? And what are the advantages of trading options on forbitspace?
Forbitspace: When trading on forbitspace, please notice to check again the two tokens you want to swap as well as the amount before swapping to make sure that they’re all right. Also, check the Slippage Tolerance when you conduct a large transaction since too low slippage tolerance can make the transaction fail.
Various benefits when trading on forbitspace you can get are:
– forbitspace is a multichain aggregation protocol that is now available on four mainnets including Ethereum, BNB Chain, Polygon, and Avalanche. Users can use forbitspace on these four networks with just a click.
– forbitspace allows crypto traders to tap deep liquidity and receive better pricing, low cost & efficient the most liquidity when using an algorithm Spaceflight smart order routing that routes orders and splits a single transaction into multiple orders across various DEXs.
forbitspace offers users better token swap rates than they could get on any single DEX by sourcing liquidity from different DEXs.
forbitspace can optimize slippage, swap fees, and token prices as features of the DEX aggregator.
forbitspace reduces the slippage by deepening the liquidity through DEXs.
forbitspace can handle a volume of up to $300M per transaction within 0.3s using the Spaceflight algorithm.
Last but not least, when trading on forbitspace, users can earn FBS as trading rewards after each transaction.
to add on what nina said forbitspace dex aggregator is one of the most inovative and upgraded dex aggregator in the market today
i will give you some image of our platform
you can see instantly the quick analysis of every crypto curreny pair
that you want to trade
so far only forbitspace has this feature
CF: Many benefits that forbitspace provides to users when experience forbitspace platform. These features are really appealing to me and the whole members here
- From @111111Alon
Community support is one of the biggest aspects of project success. Most projects have procedures for interacting with their users. Do you have any special plans to attract and expand the community and improve the user experience?
Forbitspace: for now we don’t stop developing our dex aggregator to provide a better,friendly user and most importantly stable and secured platform for everyone
we are currently developing a marketing overview plan, working with affiliates around the world, and receiving advice from leading experts in the crypto and blockchain world to develop a plan to increase growth.
We are going to implement AMAs in the Polygon and Avalanche communities, as well as collaborate with a number of KOLs to promote the forbitspace protocol.
We are constantly updating and bringing new features for users. In addition, we keep organizing interesting programs to attract users to participate in forbitspace
CF: Sounds really nice, AMA is a good chance to introduce your project to a large number of users, thus giving them more insights and attractive rewards.
- From @chungnhan1007
Could you let me know the detailed tokenomics of $FBS token and its utility in the ecosystem? Please let me know how to earn $FBS, as well as its benefits for token holders in the long run?
Forbitspace: FBS is the Utility Governance and Multi-chain Token of forbitspace with the total supply of 9,999,999,999 FBS.
FBS token is now available on the five leading blockchains including ERC20, BEP20, SPL, Polygon, and Avalanche.
FBS is the native utility token of the platform and is used in the following functions:
Protocol Governance, Liquidity Mining Incentives, Protocol Incentivization, Staking, Collateral Backing for Derivatives, Platform Service Fees, and Utility Holders.
You can earn free FBS through two activities, namely referral program, and trading reward.
With Referral Program, one address will receive 99 FBS when successfully referring a new user to make a transaction on forbitspace.
And with Trading Reward, you can get a trading reward when you trade on Forbitspace.
It’s fantastic to be able to trade at the best possible price while still earning rewards, isn’t it?
- From @GamaLidi
Liquidity mining has sparked a growth in the DeFi market, but increased gas fees and network congestion limit users from taking advantage of DeFi’s full potential. What is the most pressing issue that needs to be addressed? How does forbitspace plan to provide a long-term remedy?
Forbitspace:
Currently, forbitspace supports 4 of the most prominent blockchains, specifically Ethereum, Binance Smart Chain, Polygon, and Avalanche to solve the network congestion issue.
Multi-chain is one of key features forbitspace has contributed to solving the current network congestion in the DeFi market. And forbitspace has already implemented multi-chain in our platform.
In addition, forbitspace also supports the lowest gas fees for traders. To offer the best gas fees, forbitspace prioritizes finding the shortest path to transact then choosing where the transaction has the best rate. forbitspace will split the amount and execute the trade on each AMM. With the Spaceflight algorithm smart order routing, forbitspace will calculate how much to divide each AMM to get the best rate.
forbitspace uses a Spaceflight algorithm smart order routing to split a single transaction into multiple orders across various DEXs, also route orders through and allow crypto traders to tap deep liquidity and receive better pricing, low cost & efficiency in the most of liquidity. Our smart order routing takes only 0.3 seconds to find the best DEXs offering the optimal price for traders.
- From @Samanth8a
As you claimed forbitspace is a fully decentralized platform. Do you have other DeFi features like(NFT, Farm or staking) and how different are they? Do you have a BuyBack system & a Token Burn plan to increase Token value as added value to attract Investors to invest in your project?
Forbitspace: We also build an entire ecosystem and create an ideal space for crypto lovers, where users just need to use our service to experience various forms of transactions without needing to open multiple web pages at the same time.
Besides forbitspace, a DEX Super Aggregator, we also built forbitswap which is a capital-efficient AMM that combines the liquidity on Ethereum blockchain and Binance Smart Chain with the scalability of a Layer 2 platform deployed on the Polygon Network, Avalanche, Arbitrum, and will soon be functional on other blockchains including Solana, and more.
forbitswap will also work to provide a comprehensive platform for social tokens and NFTs. The features of forbitswap are swap, staking, liquidity mining, NFTSpace Markeplace, and IDO flybylaunchpad (which is already launched)
More details: https://flybylaunchpad.com/
Token Burn and Buy-Back programs play an important role in increasing Token value. So shortly, we have a plan to orient and develop BuyBack system & a Token Burn
here is the interface of forbitspace DEX Super Aggregator
PART III: BEST LIVE QUESTIONS IN CRYPTO FAMILY GROUP
- Do you have Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we Join it?
Forbitspace:
Hi Sendo, thank you for your question. You can find forbitspace’s whitepaper via this link: https://forbitspace.com/forbitspace-whitepaper.pdf
We’re gonna do pre-sale of FBS tokens on https://flybylaunchpad.com/. Kindly join with us!
- Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
Forbitspace:
DeFi is sophisticated software with the highest requirements for code quality and security because it is created based on an open-source and uses not only its users’ data but also their money.
forbitspace is a decentralized exchange and does not store your tokens.
All trades on forbitspace are peer-to-peer. You trade directly from your wallet and retain complete custody of your tokens throughout the entire process.
Thus, the risk cases that happen to forbitspace will not put your assets or personal information in danger.
Trading on forbitspace is totally safe.
To assure users of the project’s usability and security, forbitspace brought in CertiK, a cybersecurity firm founded by Yale professors, to audit its code and activate CertiK Skynet, which is an on-chain security and data insights platform that provides 24/7 monitoring of smart contracts.
Hacken, one of the leading crypto audit companies, also participates in the audit of the forbitspace protocol.
You can learn more about the details here:
CertiK Blockchain Security Leaderboard:
https://www.certik.com/projects/forbitspace
CertiK Skynet 24/7:
https://www.certik.com/projects/forbitspace#skynet
Hacken CyberSecurity Services:
https://hacken.io/wp-content/uploads/2022/01/Forbitspace_04012022SCAudit_Report.pdf
- NFT is not just a trend ! It is going to rule this decade and Innovation has just started. So, with NFT what is your future plan?
Forbitspace: We’re gonna launch an NFTSpace Marketplace which is a platform in our ecoysystem. With NFTSpace Marketplace, you can buy and sell NFTs. We provide a fully-equipped space for crypto lovers. So join forbitspae today to experience that!
- Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
Forbitspace:
Here is an tutorial video that posted on our Youtube channel https://www.youtube.com/watch?v=5oiSllXt4vg. Kindly follow forbitspace youtube channel to learn more about our protocol!
Youtube channel: Youtube: https://www.youtube.com/channel/UCU9ejvfmL6p2Pdwp2-q163w
- The biggest DeFi needs are that of interoperability, providing cross chain interactions and multiple blockchains, how does yield achieve this? Do users need KYC to enjoy all the awesome features of yield ?
Forbitspace:
Because of DeFi’s decentralized nature, users do not need to KYC to experience everything to the fullest, especially with forbitspace.
CF: Thank you so much for taking your time to join our AMA today, as well as thanks for hundreds of good questions from our community.
Seems like there’re many things to exchange, but I’m afraid the time is up now. For all of the questions that have not been answered yet, guys feel free to search for more information on the links provided below:
Website: https://forbitspace.com/
Discord: https://discord.gg/CnJqNa2wfG
Twitter: https://twitter.com/forbitspace
Reddit: https://www.reddit.com/r/forbitspace/
Telegram: https://t.me/forbitspace
Medium: https://medium.com/@forbitspace
