DojoSwap AMA | March 1

Transcription of the DojoSwap AMA

Shinzo

Once again, a warm welcome to all ninjas to our AMA, and samurais and sushis.

After all that has happened the past few months, our team thought it would be great to do a stocktake, for those who have been in all this while, we thank you. and to the new ones, your journey with us begins, and of course thank you for those who submitted your questions.

Shinzo

Let's start with general dojoswap-related questions

Who is behind Dojo, and how big is the team?

Sensei

We are a team of web3 developers that have built and exited our web3 companies to top vc firms like sequoia, coinbase ventures and binance labs.

Our team is 15 man strong and we are still constantly hiring developers to build more features and maintain our existing platform.

Koga

2 of whom are actually chain devs. They've seen the shenanigans of today, and shook their heads tbh, we shall see where things go from here. But mainly as what sensei says, team is huge, team is strong, experiences super diverse:

some of us excel in biz dev
some in contract dev
some in art
some in UX

In other words, a legendary team i hope :)

Shinzo

DOJO has become one of the biggest projects on INJ. What has made DOJO stand out and what future plans does DOJO have to push this project to next level?

Sensei

We have many developments that we are working on in our pipeline. Including Babydojo, veDojo, Sushi staking (TBA soon). Other things that we are always working on includes securing good launchpad projects like blackpanther, ninjavault and more

Also securing more airdrops for our dojo ecosystem holders

Koga

Actually at the core of what we do, we are super responsive, and we are able to react to the narrative of the day - and i think this is a huge strength of ours

Koga

erc404? we simply bring it in and improve it
chain too slow? we simply build an L2 and scale the chain

Stuff along those lines, not impossible for us

Do you want to support us every step of the way as we attempt to build the biggest community focused set of things?

We don't line the coffers of VCs, but more of any community member that believes in us early, I think that is what its all about really

Sensei

We build whats needed in the community, for the community, a community driven approach. We innovate, a lot

Shinzo

With regards to visibility, what plans do you guys have for a proper CoinMarketCap or CoinGecko page?

Sensei

CMC and CG page will be up soon

It was down because we are in the midst of upgrading our analytics and subgraphs to optimize it since our traffic is high and data usage is very high as well, we expect it to be up within the next few days

Koga

A large part of visibility is about the PR that our team will do, and can do

Shinzo

Understood. Some of you have asked about the analytics page, it is being worked on as well

Koga

As you all have seen, this includes PR for CW404 - SUSHI (i presume many are happy with how things transpired for SUSHI) - (except for those who sold too early at $200) - but regardless, don't see why we can't have the same visibility for babyDOJO, but more importantly, it will take some time to prepare. We will likely take snapshot as per schedule

Sensei

PR is being worked on for babydojo :)

Koga

Might delay the drop a little bit, but its all to make sure we get a giga drop with huge tailwind. Hope you guys understand if we push the dates back a little. I'm sure you dont want us to drop babyDOJO (like literally drop it), that wont be fun.

Shinzo

Another question on visibility - Currently it is difficult for new users to get into dojo ecosystem. What is the plan to smoothen the onboarding process?

Sensei

We do have bridging guides for users already on how to withdraw INJ/USDT from binance to their wallets and then bridge over using injective hub official bridge.

We also have a direct link from our site as well to the bridge. Definitely as more dapps build on the chain, more multi-chain bridges come over, it gets easier for us to onboard users.

Koga

Ngl, it has indeed been different onboarding users into cosmos vs in EVM

But a lot of it is to do with education as sensei said

Sensei

We are talking to a few multichain bridges that is keen to build on us, for our users

Koga

We are interested in bringing in/investing in bridges that make it easy for users to use injective, nd using our liquidity pools

Multi-chain used to be one of the best (sadly they had to close down)

Sensei

Also, a key part is the word of mouth and helping peers / community out if you see anyone with difficulty trying to bridge in, which generates more fees for the platform and our LP holders, boosting APR!

Koga

Oh yes onboarding wise, integration with tools like dexscreener is already done, that brings huge visibility. Maybe we do portfolio managers like debank, but all subject to availability

Shinzo

Hope this gives everyone some insight on how we intend to boost visibility and bring more people in (with everyone's help of course!)

The next series of questions will be regarding these topics.

What is the main purpose behind kicking off airdrop season within the Dojo ecosystem?

Sensei

There a few reasons:

(1) its for generate some dividends for our users and

(2) its to help projects on injective launch off because currently there isn't many platforms they can launch off from

Our goal is to help injective ecosystem grow. When the ecosystem grow, so will we since we are the main amm dex on the chain.

One thing very important to note is that a dex thrive on volume + number of users

Airdrop is not solely for dividends (what the majority might think), its to grow our dex but to also bring in TVL

Koga

Also, visibility overall for the DOJO ecosystem

Its a lot about strategic positioning

Sure you get some free monies, but the key is really about making sure that we position well

Sensei

Which is evident in our case. Our TVL has been going up since inception: 20mil more to 100mil!

Shinzo

Is there anything that the Dojoswap team is working with the Injective team on?

Koga

Damn, there's a ton, some we cant readily share, but you can only imagine - what if we kick-start an injective season the same way arbitrum season was kickstarted? Dojo holders stand to benefit the most

Sensei

We are working with them on many fronts, including PR / marketing etc

One thing exciting thats coming up INJ team to make Dojoswap to be the official organizer of INJ hackerhouses and that is beneficial because all the dapps will compete to build off us and launch off us

This, we can probably share: We will be the 1-stop defi platform for which all dapps launch and list and trade on

We would also at the same time, be able to hire more developers to build on the dojo ecosystem!

Thats always the focus when we launch any new initiative

Koga

Hypothetically speaking - if we do get grants and stuff, team is not opposed to giving at least 90% of that all back to DOJO & SUSHI holders (by dojo holders, we mean dojo ecosystem holders, aka DOJO + SUSHI holders)

We just need a little to cover our costs, but of course its all hypothetical, but you guys can see how much we do care about all of you

Shinzo

I know we've mentioned a little about OKX Wallet Integration. What's the update on that?

Sensei

OKX wallet integration is already done. You can connect to our platform via OKX wallet

We do have a massive marketing campaign with OKX wallet coming this march where we wiill be one of the main platform featured on their wallet app. Will be huge marketing and exposure for DojoSwap

We will be able to tap on their large Chinese market, OKX is the top 3 cex in the space and this is very exciting for us

Koga

Oh yes regarding this, it will be a strong flywheel, more and more projects onboarded into injective, and hence listed on dojoswap

HUGE

You guys always ask us WEN CEX, tbh we like to keep good partners close. Thats all you have to know, there's no point listing in small CEXes, It doesnt push the needle, our team only ever swings high

Shinzo

Which is exactly what a few of you have asked... WEN?

Sensei

We are currently working with 2 major tier 1 cexes that starts with B. Our goal is to list on the #1 cex and thats what we are working on right now.

We expect a cex listing in April/May, we are currently not considering tier 2 cex and only going for the top 1 and 2

The INJ team is also helping us expedite the listing

Shinzo

Speaking of partnerships, could you explain more about the dojo labs venture fund?

Sensei

We have invested in blackpanther and the token profits will be distributed back to our users. The goal of the venture fund is for our platform to have ownership in all the INJ ecosystem projects to (1) for us to be able to work with them closely to at the same time scale up DojoSwap ecosystem (2) to generate token profits for our DojoSwap ecosystem holders

For example, we will be investing in Ninjavault as well as a strategic partner and that allow us to help direct them to focus building on top of our platform and launchpad off our platform.

And similarly, token profits will be redistribute back to our users ,this is also part of the strategic positioning that koga talked about

Koga

Strategically, this is sensible because we don't waste away the LEAD that we currently have, we simply capitalize on things, and build dojo into an irreplaceable piece of the ecosystem. Imagine holding the token that governs all the other large protocols in the space ,pretty much what CRV did to dominate the whole of ethereum

Most protocols hold CRV you know?

Shinzo

Hope this provides some insight to you guys

Let's move on to something one of the key initiatives everyone is concerned with - babyDojo

What's the utility of babydojo? Is there opportunity to stake it and earn dojo?

Sensei

Babydojo is the first ever reflection token launched on Cosmos. Its also audited by SCV and we are working with the injective team to create a standard for it and push its PR just like how we did for SUSHI

Babydojo does not need to be staked, you get to earn DOJO tokens airdropped to you by just holding on the Babydojo tokens in your wallet, as simply as that

Koga

I know some of you are also concerned - does the team have nothing after babyDOJO is complete?

I hope the earlier part of the AMA has already shown you, so much is still being cooked, the issue is, so much is being cooked, we are wondering which dish to serve next, but you guys needn't worry about this, and leave it to us, we wait for a good narrative before hopping on it

Now also, you get to stake babyDOJO in farms if you wish to do so, there are many ways to earn with babyDOJO, so obviously... holding babyDOJO is going to be super powerful

We will have utilities for babyDOJO in the future. imagine a non-meme meme coin

TOO MUCH

Shinzo

This should help to ease some of your concerns regarding next steps after babyDojo. We focus a lot on it because that is what is pushing our ecosystem next, but it doesn't mean that is the end-all. In fact it is only the beginning

There's $DOJO, then came $SUSHI and now $BabyDojo. What's the role of these tokens in the DojoSwap/DojoLab ecosystem?

Koga

Exactly! What shinzo says is accurate, a lot are seeming to think that babyDOJO is the end-all cos SO MUCH FOCUS is placed on it

But the thing is, the focus is being placed on babyDOJO by you guys (the users), cos you are so excited by it, our team hasn't really been talking much about it you know? We've already built it, tested it, ready to release

Sensei

They all play a different role in the ecosystem

Dojo is the main native token and its the basis of liquidity on our dex. Sushi is the NFT element of our project and it helps us in creating a culture/branding around DojoSwap. Its also the first innovative 404 launched on Cosmos. As for babydojo, it functions not only as a non-meme memecoin but also the start of a new standard - reflection token for the entire cosmos chain akin to Pandora being launched on EVM

All the 3 tokens work well, hand in hand and each has it own unique value proposition

Koga

But already been working on other items behind the scenes

And that's 3 things, still exclusive of what else we've planned to airdrop to you guys

If you think babyDOJO is the biggest airdrop on Injective, you have yet to see the true biggest one, but its ok, we take everything one step at a time

Shinzo

What will be the initial liquidity for BabyDojo/Dojo pair?

Sensei

The initial liquidity will be BabyDOJO/INJ and the initial liquidity will be formed using the fees generated by the dex since the day we launched

Babydojo/inj will have at least $1,000,000 USD in initial liquidity, making it the memecoin with the highest liquidity on entire injective, + a non-meme memecoin with UTILITIES

And huge staking farm rewards + dojo airdrops from the tax

Volatility > more volume > more fees generated for babydojo holders

Koga

While we want even more liquidity, we will leave it to the market and automatic liquidity acquisition to do it

We need babyDOJO to be volatile to attract users to trade it, it cant be like DOJO

Sell 100k and price moves < 1%

Sensei

Volatility > more volume > more fees used to buyback DOJO > dojo price UP > sushi price UP

Volatility and volume is the main "KPI" for babydojo, price is secondary

Shinzo

What's your plan to stop people to dump dojo and babydojo after the airdrop?

Sensei

i think koga already explained the plans earlier on babydojo, but let me go into more technical stuff and some numbers

Firstly, team has already set aside funds to buyback babyDOJO already

That said, the apr (yields) from the 8% taxation will help support price even if users sell because the token will permanently receive dividend (set a floor where it can’t go under)

With a babydojo/Inj farm, you will expect a high APR just as you would when we first launched dojo and sushi farm

That itself, is the 'floor', because valuation of a token is pegged to 2 things

utility
dividends/rewards/apr

And we have both of them covered

Koga

Did you guys read normie's thread?

He showed how a babyCAKE has the ability to push the needle for CAKE SO MUCH when it launched

Go study if you guys have not studied yet

Imagine, babyCAKE was built by an anon team that had no intention for it to survive

Sensei

The tweet link here:

Koga

Obviously... team has already even gone so far as to set aside buyback funds for babyDOJO, do you think we will let it fade into irrelevance?

Shinzo

A small technical question: 8% of every transaction volume will be used to buyback $DOJO… is this correct?

Sensei

Its 8% of every transaction volume

Meaning if a user sell $100 of babydojo to dojo, $8 is used to buyback DOJO and distributed to all babydojo holders. $1 is used to buyback dojo and BURNT

And the remaining 1% out of the 10% tax is used to form liquidity for babydojo > ensuring perpetual liquidity > perpetual trading > perpetual buyback of DOJO, so its 9% in totality

Koga

8% bought as dividends so users can accumulate a bigger bag of DOJO (for those who don't already have a big enough bag, just buy babyDOJO to accumulate more DOJO)

1% to burn DOJO

So overall, babyDOJO has a net positive effect on DOJO, as it pushes DOJO into deflation

And as DOJO becomes more valuable, so does babyDOJO (cos holding some gets you DOJO into your wallet, and DOJO simply becomes more scarce over time)

Shinzo

And another quick question: $1 DOJO gives $0.42 of $BABYDOJO... Who is financing this airdrop?

Sensei

As mentioned earlier, we will be using the platform fees generated since inception to create the initial liquidity, so a total of $1,000,000 USD will be formed for babydojo liquidity and probably more as we accumulate more fees over time, Because 10% are taxed

Koga

A combination of team funds + fees generated from platform, this is a more efficient manner of fee redistribution to users for the time being

Shinzo

Hope this addresses your questions for babyDojo. If there are more feel free to ask them after this AMA

Our next initiative to talk about is veDojo

Can you guys share a bit more about what it is and when can users expect launch?

Koga

Regarding veDOJO, it has actually already been fully built

Fio

"I'm not sure if many of you know about our veDOJO plans and what it is. TLDR; you lock dojo between 1 week to 2 years. The longer you lock, the greater your veDOJO received

Now, in future launchpads, veDOJO is the requirement for participation. But that's the not the end of the story. At one point, most of you early farmers would have accumulated so much, and locked so much veDOJO that there's gonna be a supply shock. Big whales who wanna have a bite of our launchpads won't be able to join without veDOJO

Hence, veDOJO launchpad delegation

We'll build a veDOJO marketplace for you guys to auction off your veDOJO allocation to users who have no veDOJO. Imagine having $50,000 worth of votes ($250,000 launchpad allocation to sell)

So what's going to happen is that there's real utility to veDOJO, and why it's going to be important for us all. On top of receiving governance powers, bribes from external protocols and all that. It'll be huge and ideal to accumulate more and sell less once this system kicks in."

Koga

But we haven't really launched it due to one conundrum currently in the space too

Remember our most recent article?

i shared a little about how cosmos ecosystems has an illiquidity issue, currently it feels like veDOJO might exacerbate that issue, but we shall observe

Sensei

The timing of the launch is important as well. WIth our main focus on creating more liquidity on Dojo currently, having veDOJO launched would lock up quite some bit of DOJO supply and that could affect the liquidity of DOJO. we have grew DOJO liquidity from 2mil 2 months ago, to 20mil++ right now

Our goal is to get DOJO to at least 40mil in liquidity so users can trade with little to no slippages

Koga

we will release veDOJO when it is time to do so

The key is to ensure the chain has sufficient liquidity first before we start looking at ways to LOCK the liquidity in, doing so too early will kill off any possibility of building DOJO EVEN BIGGER, so we need to be careful as to when we aim to launch such initiatives and is something that our team always keeps a watchful eye on, just because something is built, doesn't mean it needs to be released immediately
Ssuch is also thankfully due to team's ability to build fast, such that we can opt to drop stuff that we've built in favor of something that is more sensible

Shinzo

Yup being flexible based on various conditions is something our team values very highly

When can users expect the total supply burn voting ?

Sensei

Either this month or the next as we continue trimming emission, we projected that we can burn even more DOJO, especially with the recent rise in dojo prices

Koga

To be honest, event is largely probably priced in too

You guys know us

We keep our promises, you already know a huge burn is coming in to get rid of DOJO supply, nothing to be suprised about. You can pretty much assume its already done in the first place, and this statement is true: imagine we follow CAKE trajectory

100mil max supply is not out of question, minus the downward trajectory of course

Shinzo

Before we end, there are some questions about $SUSHI. Note that Sushi Fighter NFTs have been having a whole discussion in their respective chats, so we urge you guys to head over if you have more questions here: https://t.me/SushiFighterNFT

Roadmap updates will be given there as well when ready. Remember, timing > all else

To address a key question: Please note that $SUSHI will be included in the calculation for net worth for the baby dojo snapshot.

And we have come to the end of the hour mark for the AMA!

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