This week we are reviewing AshSwap, the first stable swap built on the Elrond blockchain and the most recently added project on the Maiar Launchpad. Find out more about what makes AshSwap unique from other decentralized exchanges (DEXs), how it aims to solve prominent issues in DeFi, and our analysis of the project. 

AshSwap is the first decentralized exchange (DEX) stable-swap built on Elrond. Similar to Curve Finance’s development on Ethereum, AshSwap is building a complete financial product suite to tackle the current problems within the DeFi ecosystem. AshSwap aims to create a foundation for a secure, decentralized, and upgraded financial system with sustainability and interoperability at its core. Its native stablecoin is $AOC, and the governance token is $ASH.

Since October 2021, CEO neil⚡🔥 (Neil Nguyen) and the AshSwap team have worked hard to prepare for its launch. The stable-swap is already available on AshSwap devnet, where over 22,000 people have experienced and used the product. The project recently raised $2.5M in its private funding round, led by Elrond and joined by other investors such as Morningstar Ventures, Istari Vision, Skynet EGLD Capital, and more. Read about the private sale➡️ here.

💎 What makes AshSwap unique from other AMM DEXs?

Before we start naming the importance of AshSwaps product features, let's dive a bit deeper into how stable-swaps came about and the background of Automated Market Makers (AMMs). 

The concept of Automated Market Makers (AMMs) first arose in 2018 when players like Uniswap, PancakeSwap, SushiSwap, and more came into the DeFi space. These projects offered solutions for trading speculative assets versus stable assets. Curve Finance was one of the first projects to introduce a concept called “stable-swap invariant” built on the Ethereum blockchain. A unique feature of Curve’s stable-swap design was reduced slippage (expected trading price) to improve liquidity for trading between assets with more stable prices. Stable-swap decentralized exchanges grew to become one of the most valuable use cases in the DeFi ecosystem, hence the inception of AshSwap. 

AshSwap aims to solve three main issues that we all face in today’s DeFi ecosystem: 

Trading Stables/Impermanent Loss: Most AMMs use Constant Function Market Makers (CFMM), which is ideal for normal assets but results in high slippage when swapping between stablecoins. 

Capital Inefficiency: The beauty of DeFi is that people can trade assets without any intermediaries, yet this means that we need people called Liquidity Providers (LPs) to put up capital to create liquidity and facilitate trades. This poses a problem, as capital is stuck and taken out of circulation, leaving no room for trading.

Governance Token Inflation: In DEXs, users are rewarded with governance tokens. Though this has its upsides, users often end up with many tokens where the only action they can take is to vote in unestablished DAOs. Users get impatient with the lack of results and thus dump their tokens in the open market, hurting the project and its investors. 

AshSwap tackles all these problems by providing its users better rates when trading between assets with comparable prices, such as USDC/BUSD or renBTC/WBTC. Anchored by the project's Trading Fee model, 50% of its fees go to the LP ASH Token holder, and the other half goes to veASH (vote-escrow) holders. This allows users to stake the governance token and creates a more sustainable incentivization solution. 

Furthermore, AshSwap has developed a new concept called Liquid Liquidity Provision (LLP), where users don’t have to give up their assets but can exchange them instead, resulting in an increase in revenue for both LPs and AshSwap. Users can mint $AOC, AshSwaps stablecoin, by using LP tokens as collateral; this allows a zero liquidation risk action while still collecting trading fees and farming rewards.

AshSwap has developed a place for stablecoins to be traded as efficiently and cost-effectively as possible. Even though AshSwap mirrors Curve Finance, the project has already developed its core features, including Swap, Liquidity Provision, Liquidity Staking (Farming), Governance Staking, Revenue Distribution, Yield Boosting & Voting Weight. Below are some examples of how AshSwap differs from its competitors. 

In only a short period, the team has accomplished a ton, including its release on devnet, Battle of the Yields event, and partnering with multiple other projects on Elrond, such as Istari Vision and Proteo. Below are what we think are some of the strong points of the project: 

AshSwap is building the first native Elrond decentralized stablecoin, $AOC. Currently, the only stablecoin on Elrond is USDC. $AOC will increase the Elrond ecosystem's liquidity, bringing many new dynamics, such as new use cases for farming, staking, or DAO governance. 

The concept of LLP strongly impacts the unique model of AshSwap. By allowing LPs to exchange assets rather than trade, they keep more collateral in the AshSwap ecosystem.

AshSwap already reached over 22K users in its devnet release and more than 11K new registrations from the Battle of the Yields campaigns (allowing tens of thousands of users to swap, stake, and yield farm on the platform). People in DeFi believe firmly in the idea of stable-swaps and AshSwap being the first on Elrond is an excellent way for them to have the first leg in on this new and promising market. 

AshSwap fits in with Elrond’s DeFi vision, aiming to reinvent finance and create an Internet of Value. Furthermore, the Elrond team has even mentioned that its own Maiar DEX is incomparable with the mechanics behind AshSwaps DEX. 

On the other hand, DeFi is a problematic space. It comes with a handful of challenges, such as lack of security, resulting in hacker vulnerabilities and software risks leading to a high probability of bugs. Furthermore, releasing a new stablecoin will be challenging for both AshSwap and Elrond, especially given the market today. At the moment, the team plans to release its token in 2024, and ensuring the utility of the $AOC matches the needs of users and investors will be a development we all will follow closely. 

As said, 2024 awaits the big release of $AOC. Until then, the team plans to move away from the AMM algorithm and bring the CLOB (Central Limit Order Book) mechanism to Elrond. AshSwap hopes this switch will allow for greater scalability once the project picks up and also releases on Mainnet. 

As of early this week, AshSwap announced its listing on the Maiar Launchpad and will open registration and KYC processes for its public sale from October 12th to 21st. Applicants will be able to win lottery tickets to participate. To find out more about how the process works and how you can register, read the full announcement ➡️ here.

Congratulations to the whole AshSwap team for this incredible achievement, we are excited to see how this project continues and are thrilled about everything they have achieved. 

For more information, check out their socials ⬇️

Twitter | Medium | Discord | Telegram | Telegram Announcement 

AshSwap

Elrond (EGLD)

Proteo

neil⚡🔥

Morningstar Ventures

Istari Vision

Skynet EGLD Capital

Project Review: AshSwap - The First Stable-Swap on the Elrond Blockchain

This week we are reviewing QoWatt, a green energy project aiming to build the largest renewable energy network for electric vehicles in Europe. This review will take you through QoWatt's mission, how it works, our analysis, and the project's future roadmap. 

QoWatt is a French startup that enables green energy vehicle charging via the Elrond blockchain. The team's goal is to maintain 40% of the electricity generated by the renewable QoWatt charging stations. QoWatt aims to build the most prominent European network of charging stations for electric vehicles at the heart of commercial spaces and business centers. The project combines sustainability and energy-efficient solutions with blockchain technology and decentralized finance.

When we look at businesses today, whether established or just starting up, many companies implement sustainable practices or turn to energy-efficient solutions to fuel their products and services. In 2020 alone, almost 90% of startup founders thought about sustainability when creating a business. Sustainability has not just made its way to becoming a competitive advantage but is imperative for businesses to thrive and achieve long-term value. 

With this said, QoWatt is genuinely at the forefront of combining sustainability and energy-efficient solutions with blockchain technology to facilitate the global adoption of electric mobility.

How it works - Investor Program, NFT Governance, and Gaining Rewards. 

QoWatt's supply chain is split into two parts. The core team builds the blockchain technology and NFTs, while their expert partners make the physical charging stations in commercial centers.

QoWatt bases its business model on three main pillars: 

Limited availability of NFTs offers investors a seat to participate in the DAO

RFID card includes extra benefits for end users and investors

Offering a dynamic token supply, backed by the real-world utility and social necessity

"QoWatt Investors" are people who own NFTs and are part of their beta DAO. Their investors (NFT holders) essentially act as "shareholders" who stake and win rewards. By buying one of the five exclusive NFTs with the native token, $QWT, NFT holders can receive up to a 32% discount via the RFID card when charging an electric vehicle from a QoWatt station. 

QoWatt aims to create an ecosystem that unites investors and electric vehicle (EV) users. Investors who also happen to be EV users will gain the benefit of becoming dual stakeholders who get the possibility of having a DAO NFT. Like other DAOs, investors can hold voting rights for; burn events for token reduction, delegating treasury funds, and initiating increased rewards. The project has split the voting rights into five different tiers directly related to the five types of purchasable NFTs. 

In August 2021, Elrond announced that it became the first carbon-negative European blockchain in line with the European Climate Policy. Elrond's achievement allowed for more sustainable innovations and projects to be built on their ecosystem, like that of QoWatt. Just recently, Elrond announced that QoWatt joined the Metabonding Superwave meaning QoWatt is now one of the projects connected to the Elrond community. This enables Metabonding participants to claim $QWT rewards based on the amount of $EGLD they have staked.

The Elrond team announced this is a significant step forward in reaching QoWatts' goal of enabling users access to a solution that is not only environmentally focused but also accessible and affordable. 

The project's focus on sustainability and contributing to a greener world is a big plus for us in the EGLD Community. We are impressed by the teams' engagement in the cause and how far they are on their roadmap.

Below are some of the strong points we see in QoWatt: 

The electric vehicle market is growing exponentially. Last year EV sales increased more than 65% YoY, where approximately 1 in 10 purchased cars globally was electric. Coupled with the growth of the blockchain market, which reached $USD 4.67billion in 2021- QoWatt's unique idea of bringing the two industries together allows them to capitalize on market share.

The concept of having "investors" be part of the DAO governance is a strong part of the project, as it not only gives investors the chance to gain rewards and discounts when charging their EVs, but it keeps them engaged in the project as they have a responsibility of also voting on specific strategic directions for the future of the project.

The team is already active with 9EV charging stations in France and 40 more in the process of being installed or signed. 

QoWatt closed partnerships with renowned companies such as AXA, Societe Generale, and etotem to help build the physical charging stations. QoWatts partners have a strong name, especially in the French Market. For example, etotem, which is QoWatt's charging station provider, already has a wide variety of products and customers around France, which can be beneficial for the network of QoWatt in the future. 

Nevertheless, the project is still in its startup phase and undergoing multiple alpha/beta tests. Some of the concerns we have and aspects where we see growth potential are: 

Competition is high. The key market players of EV charging operators are multi-billion conglomerates like Shell, Tesla, and ABB. Shell already has 80,000 charging stations across Europe and plans to have 50,000 charging stations just in the UK by 2025. Though QoWatt's USP is their bridge to blockchain technology, there is no saying that these big players might not turn to blockchain and NFTs in the future. 

Despite seeing the adoption of blockchain, NFTs, and crypto among the masses, the industry is widely adopted but not always accessible to everyone. The audience of finding EV drivers who are also NFT literate could limit QoWatt to a niche target audience. 

At the moment, QoWatt focuses on the French market. Understanding which European cities are next on the roadmap would be valuable for partners and potential project investors. It is also unclear how many charging stations they want to build next year. 

We are always excited to review exciting projects, especially when they have a significant impact like that of QoWatt. In the future, we look forward to seeing their DAO Beta launch planned for 2023. The team is currently working on setting up its RFID card to allow investors to gain rewards and discounts. Keep up the great work!

QoWatt

Project Review: QoWatt - Blockchain-Based Charging Stations for Greener Solutions

Age of Zalmoxis (AoZ) is one of the most promising projects on the Elrond network. A couple of months ago, egld.gg - a Morningstar Ventures - powered initiative announced its partnership with the game, and for this, we thought it was only fitting to take you through the project and showcase all its features. 

Brought to fruition by the Wenmoon Studios Ltd. team, AoZ is a third-person MMORPG with blockchain and NFT integration in a fantasy version of the Dacian Kingdom.

In mid-2021, CEO Marius Urbaniak and his team set out to create a truly unique project, which would be the first-of-its-kind action game. Since the start of the project, the team has gone from concept and ideation to staking NFT collections, partnering with other projects, and launching their marketplace. It has been impressive for both the community and us to see the project's development throughout the months. 

Players take on the role of Dacian champions, whose bodies merge with Heroic Souls. Players can grow their champion (character) by gaining experience in combat, creating different narratives, winning events, crafting, and multiple other ways.

The game features two types of narratives: adventure and organic content. Adventures steer the growth of the players and reward them depending on different outcomes. On the other hand, organic content is created by non-player entities through newly generated content by the game's world. The aim is to collect enough data within the game to create unique and new content for the players daily. 

Currently, there are two ways to create a character in AoZ. Players can acquire an Origin Soul or Summoned Soul from the marketplace or free from a guild. In the future, the team plans to release a Dream Soul NFT Collection, a demo version for newcomers to access the game and play with limited features and blockchain interactions. 

Players can also build different structures, such as castles by obtaining a certain number of plots. These can be used throughout the gameplay or lent out to generate tokens and thereby fuel the game's economy.

The team is still in the development phase and plans to launch a Community Alpha Game at the end of 2024. However, there is already a lot of anticipation for the game and great feedback from the community. Specifically, the game's detailed and high-quality graphics created using Unreal Engine 5 and personal soundtrack are a significant part of the game and a highlight for community members.

The team created a web-version Marketplace that allows players to buy and sell different assets used within the game and the Hero Soul characters. They can purchase assets using the native token $KOSON or $EGLD. The web-version Marketplace is live and will ultimately connect to the in-game marketplace, where players can buy assets in Dacian’s capital cities. 

As mentioned, players can acquire two types of NFTs. The Origin Soul’s minting phase is already finished, and successfully sold all 3,462 NFTs available. However, with the Bendis’s Call Event, owners of at least 2 NFTs can summon the Summoned Generation.

The special Death Soul Origin can be available only to players who own all six types of Origin souls tied to the 6 realms. This way they have a chance to summon a 7th soul, which belongs to the hidden 7th realm. 

Overall, the project is very impressive. The roadmap is ambitious and the unique ideas of the project are why we enjoy working with the founding team. Below are what we think are some of the project's strong points;

AoZ’s blockchain and NFT integration coupled with their historical factology make it a first-of-its-kind game. The project team has a strong eye for detail and facts, they work in collaboration with the Iasi Institute of Archeology, which grounds the lore of the game in real-life artifacts and historical facts. Additionally, the game is based on the actual ancient map of the old Dacian Kingdoms. 

In order to receive a Summon Soul NFT, players need to own certain amounts of Origin Soul NFTs. This creates collector value for having a full set of Soul NFTs. In fact, egld.gg already has three complete sets of all Souls. 

Through utilizing Unreal Engine 5 technology, the graphics in the game, paired with the soundtrack are truly remarkable and of the highest quality. Take a look at the graphics tech demo ⬇️

AoZ is surrounded by a strong and loyal community, who are already creating factions and buying land to guarantee ownership of different structures within the game. 

AoZ has a clear commitment to protecting the environment. Recently, AoZ partnered with VictoriaLand, to collaborate on providing history and protection of ecosystem courses to the community.  Finally, what is particularly exciting, is the possibility for Origin Soul NFT holders to experience a real-world reproduced game in ancient castles that VictoriaLand organizes throughout Europe. 

The project has entered multiple partnerships with, for example, Bware Labs, Moolorian, and Isengard DAO. 

On the other hand, we also see some points of improvement. For example, the project has a very long roadmap and set of goals, the team anticipates the actual development and full functionality of the game to take approximately 3-4 years. A more iterative approach with frequent releases and time-constrained testing cycles through the community would perhaps be more beneficial to the project's development. 

Furthermore, when it comes to gameplay and accessibility, the Origin Soul NFT collection is already sold out and the only way for new players to come in is via a demo Dream Soul NFT, which only gives players limited access to the game. Nevertheless, the team has shared that they are in the ideation phase of allowing upgrades for Dream Souls, which would allow for more access to the game and community growth. 

In the upcoming months, the project will go through its private and public $KOSON sales and allow for staking shortly after. The project recently added character customization to their roadmap, which led to more than half a million $KOSON being spent/burned, with summoning, since the announcement.

The team also gave us a sneak peek at their work-in-progress new Souls NFTs after players customize their characters. Check out the preview ⬇️

To prepare for the 2024 Alpha Community Game, the team is continuously working and upgrading character creations, marketplace add-ons, and opening up the game to members for PvP tournaments. 

Stay tuned for more to come and learn about Age of Zalmoxis here ➡️ Twitter | Website 

Age of Zalmoxis

egld.gg

Project Review: Age Of Zalmoxis - An Ancient Fantasy MMORPG

For our very first project review, we're taking you through an anticipated project built on Elrond - The Realm of Karitha

The Realm of Karitha is an NFT Metaverse MMORPG project set in a medieval fantasy world. Built on the Elrond ecosystem, the Karitha metaverse allows players (adventurers) the ability to choose one's faction and embark on their own uniquely defined virtual adventures. Karitha has its own community-governed token, $REALM, and currently over 36K mintable NFTs. 

The game's founder, Amir Brooks, launched the Realm of Karitha at the start of 2022 as an opportunity for anyone to access a game built with blockchain technology. Fast forward a few months, the Karitha team has already made immense progress by successfully selling out their listed NFTs and staking 95% of their total supply. If you want to learn more about Amir Brooks and his story, check out➡️this interview we had with him a while back. 

                                                                   Impression of The Realm of Karitha Metaverse

With a clever nod to the 90s, the game brings back old-school pixel art coupled with immersive lore to enrich the adventurer's gaming experience. The aim of the founders was to bring cross-chain users together in a non-conflicting manner through their game.

You play as an adventurer in a realm blessed by “Imarin,” the god of opportunity. Five factions rule the game;

As an adventurer, you join a faction and contribute to the economy of your faction by either running a business, staking your NFTs, crafting materials, or selling $REALM. As elected council members from the community rule the factions, you can help make decisions for your factions. The Realm of Karitha is the first of its kind to leave responsibilities of factions up to their members - genuinely putting the community at the forefront.

The founding team is transparent about its progress and roadmap. In the picture below, the whole process of creating houses is shown. This is a great way to present the team's creativity. Recently, the Realm has also introduced medieval background music.

Perhaps the game's most exciting part is the vast selection of NFTs. Through NFTs and $REALM, Karitha can accelerate decentralized adoption and ownership. 

Currently, NFTs of Karitha include; Land Collections, Faction Cards, Valgarde Business Certificates & Phase 2 Businesses, Companions of Karitha, and Artefacts of Karitha. For example, adventurers can already stake NFTs on the Realm's marketplace and farm their $REALM tokens to buy in-game houses called “Houses of Karitha.” The utility of these houses very much mimics those of real houses as you can host game nights and group meetings and rent them out or furnish them as you wish. 

The Realms NFTs are purchasable only via their native token that you farm while staking “Phase 1 Businesses” within your factions. 

Soon, the team plans to release a couple more exciting collections, such as; Native Characters, who will act as default customizable characters to all new players, and Historic Characters, a collection of only 10,555 original characters with unique skills directly linked to in-game benefits. 

Full steam ahead, the team has been continuously working on making the game more attractive to Genesis members and future new players. They anticipate releasing a Web3 All-In-One User Dashboard, a multiplayer Alpha, and a cross-chain game on ETH in the upcoming quarter. If you want to keep up with their developments, don’t miss their Weekly Reports on Medium. 

We are excited to see what is ahead. If you want to learn more about Realm of Karitha see their social media handles below⬇️

Website | Whitepaper |  Discord | Twitter | Medium

Project Review: The Realm of Karitha - Craft, Forage, Hunt, and Fight in the Metaverse

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Project Review: AshSwap - The First Stable-Swap on the Elrond Blockchain

Project Review: QoWatt - Blockchain-Based Charging Stations for Greener Solutions

Project Review: Age Of Zalmoxis - An Ancient Fantasy MMORPG

Project Review: The Realm of Karitha - Craft, Forage, Hunt, and Fight in the Metaverse