SaucerSwap (SAUCE) Space AMA Recap

Q1. What is SaucerSwap and how does it differentiate itself from other DeFi platforms?

Hi, first of all hello everyone, thank you so much for having me. I'm really excited to talk to you about SaucerSwap and Hedera!

SaucerSwap is the leading decentralized exchange on the Hedera network. It is similar to Uniswap but has some major differences and advantages.

The first is that tokens on the Hedera network follow a different standard, called the Hedera Token Service, and so they are not smart contracts. This means that there is an inherent level of standardization and lack of executable functionality that provides some security to the user. For example, tokens on the Ethereum network can have malicious functions that threaten the user - on Hedera, there are no executable functions like this at the token level, so it's a key difference.

In terms of the functionality of our platform, SaucerSwap is substantially faster and cheaper than its competitors. Performing a swap costs just a few cents regardless of how busy the Hedera network is. So even during times of high network traffic and usage, all transactions on SaucerSwap cost the same as during periods of low traffic. This grants accessibility to our users, regardless of market activity, which is a huge advantage.

SaucerSwap recently attained the title of top 25 DEX by TVL, having grown a lot after the release of SaucerSwap V2 in November of last year. So we're really proud to have grown as much as we have, and always put our users first with new developments and considerations for how to improve the platform.

Q2. Can you explain the core features of SaucerSwap and how they benefit users?

Absolutely. The core features of SaucerSwap are: • Token Swap • Decentralized liquidity providing to earn tokens • Yield farming to earn tokens • SAUCE staking to earn various token rewards, in fact there are three distinct reward mechanisms that power this feature

So the main feature of SaucerSwap is the token swap. But token swaps can't exist without liquidity. All of the liquidity on SaucerSwap is provided in a decentralized manner, meaning that anyone can provide liquidity and earn swap fees and additional token rewards. We have extensive documentation and some easy to follow YouTube videos that show how this all works. To find those, you can go to docs.saucerswap.finance or search SaucerSwap Labs on YouTube - we have some really helpful content so you can learn more about DEXs and how they work!

Q3. What role does SAUCE play in the SaucerSwap ecosystem, and how can users acquire it?

SAUCE is the utility token for SaucerSwap. It serves some key functions, namely governance, liquidity, and staking. Similar to how UNI works for Uniswap, where users can vote with their tokens, SaucerSwap has the same functionality - users can vote with their SAUCE on proposals directing the protocol.

In addition, SAUCE can be staked without the risk of impermanent loss to earn rewards from three sources: swap fees from all trades on SaucerSwap, token emissions, and HBAR native staking rewards.

In essence, staking SAUCE exposes users to earning token rewards from every trade made on SaucerSwap, which is a really cool and unique utility.

To obtain SAUCE to participate in governance and the various features on SaucerSwap, users can swap for it on SaucerSwap, or find it on centralized exchanges like Gate.io.

Q4. How does SaucerSwap ensure low transaction fees and fast processing times?

This all comes from the speed and efficiency of the Hedera network. Hedera is a unique chain in the way it reaches consensus, and this allows for it to be extremely fast, fair, and cheap to users. Our users then experience this firsthand - swap transactions take seconds to complete, and cost only a few cents in gas. This is quite refreshing if anyone has experience with other DeFi platforms like Uniswap, where transactions can take substantially longer and cost sometimes over $100 per swap. SaucerSwap is often more than 100 times cheaper than Uniswap, even more when there are times of high network traffic on Ethereum.

Q5. What are the future development plans and upcoming features for SaucerSwap that users on Gate.io should look forward to?

We have a lot of new developments in the pipeline. We're currently working on a website redesign that will make everything even easier to interact with (and visually appealing!) as well as some new functionalities including a better system for on-chain token-weighted voting. We are working with our partners on some other integrations, like a bridge integration that ties directly into our platform, making interoperability even easier. For a full roadmap, we have this published in our documentation, so I'd encourage you to take a look there if you're interested to learn more.