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On September 30, 2021 @ 12:00 p.m. (PST), an AMA session was held in the Avalaunch Telegram with special guest Hunter Cheung, CTO of Hurricane Swap.

Below we present to you a recap of the AMA with questions and answers.

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Dave Donnenfeld| Avalaunch

Hello and welcome everyone to our second AMA with Hurricane Swap…the technical deep dive. Lay back, get comfortable and enjoy the show.

Today, we are fortunate enough to have the CTO of Hurricane Swap, Hunter Cheung. Welcome to the often imitated but never duplicated Avalaunch community. @hunterhaonan How are you today?

Hunter Cheung| HurricaneSwap

Cool Dave, ready to share with you guys in any seconds!

Dave Donnenfeld| Avalaunch

For starters, please give us a bit of background on yourself. What did your career and education look like before crypto, and how did you end up focusing on blockchain technology?

Hunter Cheung| HurricaneSwap

Well, hi guys! I am the CTO of HurricaneSwap and also the first author of Roke Protocol. I majored in physics at the University of Waterloo.

I actually started trading crypto currency in 2017, and built a start-up company named Jianan Quantitative Investment Management, and we are pretty active in both centralized and decentralized crypto arbitrage strategies. The company has continuously gained profits since the beginning.

I also need to introduce Ted Yin, who is the chief Protocol Architect and co-founder of Ava Labs. He graduated from Cornell University with a PhD in computer science and is also my good pal back in high school. I started this idea of building a unique cross-chain decentralized exchange since the mainnet launch of Avalanche. And Ted was being quite supportive during the whole journey of building this platform. I want to use this opportunity to thank him and his team as well.

Dave Donnenfeld| Avalaunch

Ted came up yesterday as well. I think there’s something in the water in upstate NY as the Cornell connections in blockchain are numerous.

Can you offer us a technical breakdown of how HurricanSwap works? How does the Roke Protocol, HurricaneStation & HurricaneAlliance come together to form something the market hasn’t seen before?

Hunter Cheung| HurricaneSwap

I will use this picture as an illustration.

The whole process is a little bit complicated but I will try my best to break it down for you guys.

Basically, HurricaneStation is a place where users from the BSC chain could stake their assets. Once they stake their assets, we will use the LP cross-chain bridge to cross-chain those assets to our target chain, in this case, the Avalanche chain.

And what happens on HurricaneSwap on the Avalanche chain is just like Uniswap on the any other chain, you can just simply trade any cross-chain assets you want.

After a series of transactions, there might be a price gap between the cross-chain asset and the original chain asset, then the HurricaneAlliance will step in and narrow the price gap by doing the arbitrage between the two chains.

And that’s how the whole system work.

Dave Donnenfeld| Avalaunch

It is elegant and not terribly complicated considering what you’re accomplishing. Nicely done.

How long has the project been in development? Has it taken longer than you suspected?

Hunter Cheung| HurricaneSwap

Well, we basically started the idea of building a unique decentralized exchange on the Avalanche chain since the Avalanche mainnet launched, which I believe was about a year ago.

The whole development process is on schedule but we purposefully postpone the mainnet launch date 10 days later to conduct some extra stress tests and security inspections. We might even delay the mainnet launch date even further if needed because safety is our first priority.

I mean nothing is perfect, but I could promise our community we will not launch the mainnet if we think there might be something left we haven’t checked carefully enough.

Dave Donnenfeld| Avalaunch

Understood. Even the most risk on investors are not opposed to a safety first approach in DeFi now. We hopefully have begun to learn our lesson.

How many core developers are working on the project? As a CTO, how do you divide the work between them?

Hunter Cheung| HurricaneSwap

There are 6 developers including me working on this project. I couldn’t get into more details about who is in charge of which part, due to security issues.

But I can tell you that we used to work in a distributed manner but recently I gathered all of the team members together to make sure we could launch our mainnet as scheduled, which is October 10th.

Dave Donnenfeld| Avalaunch

Your public testnet has been live for some time. What learnings have you arrived at through this deployment and how has the testnet strengthened the project?

Hunter Cheung| HurricaneSwap

I mean we got lots of feedback from the community through email and other channels.

We are receiving more than 500 emails and I think we have already fixed more than 100 bugs thanks to the community feedback.

However, none of those bugs are security-related. So even on the testnet, the funds of our users stay safe.

Dave Donnenfeld| Avalaunch

I recollect from yesterday that there were almost 200K addresses in your testnet and there were around 130K addresses altogether in Avalanche testnet at the beginning. Some big numbers.

How much research goes into designing an application like HurricaneSwap before development can begin? Do you piece together other protocols or is this something entirely novel?

Hunter Cheung| HurricaneSwap

I mean we are basically developing something that is brand new in the blockchain ecosystem. So there is really nothing we can refer from.

But we did get lots of help from the Avalanche ecosystem. Some developers who help build PangolinSwap in the early stage saved us a lot of time by sharing their experiences on how to deploy such a complicated contract on the Avalanche chain.

Shout out to the developers who have helped us along the way. We cannot get this far without your help.

Dave Donnenfeld| Avalaunch

This is a tight-knit community. We’ve gotten to know a number of projects developing here and it’s generally super supportive. Appreciate that Hunter.

What has been the biggest technical challenge in designing and developing HurricaneSwap? Was there maybe a point where you thought it might not be possible?

Hunter Cheung| HurricaneSwap

The biggest challenge has to be the LP cross-chain bridge, you not only need to cross-chain an asset to another chain but also need to verify that the amount of tokens stays on a 1:1 ratio the entire time.

As for the second question, I will use a short story to answer it. One of our core developers, whose nickname is Box, joined us when we faced lots of bugs in our original LP cross-chain bridge and could barely make this function usable.

He magically fixed almost half of our contract bugs in one single afternoon. And when I tried to call him to find out who this hero was, he told me he was in the middle of a work meeting, so he could not pick up the phone.

Can you imagine the hero who single-handedly saved our LP cross-chain bridge was a normal guy doing a part-time job and had to be careful not to be caught by his boss when he was doing his full-time job. Lucky, we manage to persuade him to join our team full-time and the work became a lot easier since he joined.

Dave Donnenfeld| Avalaunch

Big big ups to Box!

With a system this complex, spanning multiple chains, the technical challenges around securing funds and malicious activity are immense.

Outside of audits and technical due diligence, what mechanisms are in place, at the level of the protocol and architecture, to prevent loss of funds, accurate representation of assets across chains, and bad actors.

Hunter Cheung| HurricaneSwap

The amazing advantage of our LP-bridge is that we can ensure the security of users’ assets. The assets staked on the BSC chain could only be unstaked and sent back to the original staking address.

The whole process works exactly the same as in Uniswap V2 because we just simply forked the mechanism to the BSC chain. So I think it is safe to say that we share the same level of security as Uniswap V2 on BSC chain.

So no matter what happens, the users’ assets on the BSC chain will be 100% safe.

As for the minted aToken on the Avalanche chain, we use Chainlink’s PoR service to make sure nothing is overminted. Thus, the price of the minted aToken might fluctuated because of the market movement, the number of the minted aToken will stay at the correct amount. So you will be safe to trade aToken at a correct price (HurricaneAlliance will eliminate the price gap.) on avalanche chain anytime you feels like to.

Dave Donnenfeld| Avalaunch

Appreciate these comprehensive and thoughtful answers Hunter.

Next question — Right now, HurricaneAlliance is centralized with plans to progressively decentralize. Why is it important to start with this trusted setup and move to something more community-owned?

Hunter Cheung| HurricaneSwap

I mean almost all projects start from centralize to decentralize.

Yeah, right now it is the core team’s job to decide which chain we should crosschain from and which assets we should bring from that chain.

However, all of that will be changed once the DAO features is lived on HurricaneSwap V3, which should happen about 3 months later.

For the moment, the reason we choose to be more centralized is because we still have to make sure all the HurricaneAlliance functions run smoothly and safely in the initial stage of HurricaneSwap V2. So we only invited some trusted names in this industry. Right now, two of the official HurricaneAlliance nodes will be Chainlink and Avalanche.

Dave Donnenfeld| Avalaunch

What is the utility of the HCT token? Why would someone want to hold HCT long-term?

Hunter Cheung| HurricaneSwap

There are three practical ways of $HCT I can share with you guys right now, and the $HCT tokens will have more functions in the future.

First is that some portion of our transaction fees will be used to purchase AVAX to airdrop to $HCT holders and liquidity providers of $HCT-related pools as well.

Secondly, if you pledge some $HCT, you could become a verification node of HurricaneAlliance in the future. Even if you only pledge a small amount, you can still get a small share of that verification node’s arbitrage profits.

Lastly, in the future, we will add DAO features to the $HCT as well, so users could choose which original chain they want us to cross-chain to the Avalanche chain and what assets we should bring from that chain as well.

Dave Donnenfeld| Avalaunch

Excellent and Symington mentioned the burn feature as well. The utility is quite robust actually.

What component of HurricaneSwap will eventually be subject to governance? Have you taken inspiration from other protocols in this area?

Hunter Cheung| HurricaneSwap

HurricaneSwap is a community-driven project, according to the tokenomics of $HCT, our native token $HCT represents holders’ many rights, and one of them is the right to vote.

After we launch the mainnet, $HCT holders are expected to participate in project governance. That means if you think Polkadot or Celo is a good choice to build, you can get some $HCT and make a proposal, then vote. If the community says YES, we will definitely do that.

I think the idea of HCT governance is mostly innovated and we will try our best to make HCT an interesting token to hold and play with.

Dave Donnenfeld| Avalaunch

What has the experience of developing on Avalanche been like? How does it differ from other chains?

Hunter Cheung| HurricaneSwap

It is just like building on Ethereum. However, it’s much cheaper and faster to deploy the contract.

I think the total cost for deploying the whole program on the mainnet is only several thousand dollars. I mean, this kind of low-fee and fast-speed infrastructure of Avalanche really helps developers to just want to build more, and I think that’s great for the Avalanche ecosystem.

As for the differences, we actually received help from early-stage developers of Pangolin Swap. So all I can say is that Avalanche is a friendly community for developers. We aim to grow with each other instead of fighting with each other.

For me personally, I’m open to help any developers who want to build on the Avalanche. Feel free to contact our coreteam (coreteam@hurricaneswap.com).

Dave Donnenfeld| Avalaunch

Avalanche is super friendly for developers and projects are very cooperative with each other. For sure. Will we ever see HurricaneSwap deployed elsewhere?

Hunter Cheung| HurricaneSwap

Sure. Our LP cross-chain bridge could be deployed on any original chain A and we can cross-chain those assets to any target chain B.

So all of the combinations of A and B are possible, just simply use your imagination. We could cross-chain from Avalanche to BSC, we could cross-chain from HECO to BSC as well. So yes, HurricaneSwap will definitely be deployed on many other chains in the future.

Dave Donnenfeld| Avalaunch

Final question before we move on to Twitter so let’s make it a fun one — What aspect of HurricanSwap are you personally most excited about?

Hunter Cheung| HurricaneSwap

Best question of them all!

HurricaneAlliance. This is a brand-new way of earning APY instead of simply farming on a swap. And the APY for HurricaneAlliance should be much higher than simply staking on the farming section.

Let the numbers talk. You guys will be impressed and will want to join the HurricaneAlliance in the future. Not to mention that becoming a node of HurricaneAlliance requires pledging some $HCT. We will try our best to make your $HCT more valuable in the future. (“Pump it!”)

Dave Donnenfeld| Avalaunch

That is cool and the numbers don’t talk…they scream!

Now, first up from one of our 50,000 faithful over on Twitter — @PoetraNet1 What was your situation in the testnet stage before IDO, were you satisfied with the testnet, what kind of feedback did you get from these tests?

Hunter Cheung| HurricaneSwap

I think, to be honest, the testnet results were very surprising to the whole team, to everybody in the team and we did not anticipate that the testnet would get such a huge amount of attention.

I can give you some numbers to back up my theories, like 30% of all the testnet wallets hold $HCT tokens and more than 85% of all the testnet trading transaction volume were happening here on HurricaneSwap. Even the testnet $AVAX had an OTC price because people want to purchase testnet $AVAX to participate in our testnet events. Can you imagine a ‘fake’ $AVAX having an OTC price? You basically can get it for free.

And that’s how this testnet event was going. It was phenomenal. And we also got a lot of feedback from our users. According to their needs, we’ve made a lot of adjustments to the UI of the V2 and also fixed many bugs. We have really good confidence about launching our V2, which should happen on October 10th.

Dave Donnenfeld| Avalaunch

@RJM_500 Can you tell us if you have “Buyback and burns” mechanism in HurricaneSwap? I would like to know how the buyback percentages are divided into dividends?

Hunter Cheung| HurricaneSwap

Bro I get your point. However, to answer your question straightforwardly, I think we will have the buy-back feature of $HCT but not in the near future.

But I do believe that if you nice folks willing to join this project on this early edge, you should be rewarded if the HCT ecosystem is booming, So instead we choose other approach’s to make your HCT more valuable in the future.

I think 1‰ of the transaction amount will be used to buy back $AVAX and airdrop to $HCT holders. Also, you can single stake $HCT in our farming section to earn annual profits. In the near future, you could also pledge $HCT to become a node of HurricaneAlliance and get some portion of the profits. We will work hard to make your HCT more valuable, if you join this AMA, I consider us as band of brothers, and brothers fight together!

Dave Donnenfeld| Avalaunch

Love it. Giving them the skinny Hunter. Our ecosystem rewards are slated to give our longer term stakers benefits, but people look at the short-term and want it now so I’m with you 100%.

@Thom_Barber How does hurricane swap differentiate itself from other dexes like sushiswap or pangolin?

Hunter Cheung| HurricaneSwap

Roke Protocol is our core technology and killing part compared to other DEXs. The whole point about HurricaneSwap is that we are not cross-chaining the actual token itself, we are using LP token to cross-chain the price movement of that asset.

And because we are cross-chaining the price movement instead of the token itself, the whole process will be much faster.

It takes only 2 to 3 seconds for the price movement to be transferred from the original chain to the target chain, according to our closed V2 testnet result.

The other amazing advantage of LP-bridge is, we can ensure the security of users’ assets.
The assets staked on the BSC chain could only be unstaked and sent back to the original staking address. The whole process works exactly the same as in Uniswap V2 because we just simply forked it to the BSC chain. So no matter what happens, the users’ assets on the BSC chain will be 100% safe. As for the minted aToken on the Avalanche chain, we use Chainlink’s PoR service to make sure nothing is overminted.

A treat to those nice gentleman’s who stay with us the whole time. V2 Hurricaneswap Station screenshot leaked!

Dave Donnenfeld| Avalaunch

Nice. Appreciate the alpha. Any time you can throw “killing time” into an AMA, I’m impressed.

@elif611_ How does hurricane swap attempt to address and mitigate temporary losses in LP pools?

Hunter Cheung| HurricaneSwap

You basically earn not only LP profit but also $HCT as well. However, $HCT will only be distributed to those $HCT-related pairs. We are also considering using $HCT to reward people who provide liquidity on the BSC chain. I think all these combined should not only cover the impermanent loss in LP pools but also earns you a lot of the extra profits.

Dave Donnenfeld| Avalaunch

Last question Ser — then, we’re going to unmute to chat, open the floodgates and you can pick 5 that rock your world.

Dave Donnenfeld| Avalaunch

We’re going to unmute the chat for a couple of minutes. Thanks for all the banging answers and one of the more informative AMAs I’ve been a part of

TONEY Bear Gem Hunters

I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?

Hunter Cheung| HurricaneSwap

Here are our official social media link, I wish you all could give it a try and join our community, no matter if you are an investor or a user, just join us.
Twitter : https://twitter.com/HurricaneSwap
Telegram:
-English Group: https://t.me/HurricaneSwap
-Simplified Chinese Group: https://t.me/Hurricane_zh
-Announcement: https://t.me/HurricaneSwap_Announcement
Medium: https://hurricaneswap.medium.com/

Manuel Neuer

Where can token be bought as at now, what exchanges is it available?

Hunter Cheung| HurricaneSwap

I think the only place left to do IDO is on Avalaunch right now, so you are in the right place. And I think the OTC price for HCT on MEXC is already 6 times than the IDO price, so this is the last chance to purchase HCT at IDO before listed on the centralized exchange.

Katherine Langford

Do you also build NFT ?

Hunter Cheung| HurricaneSwap

We do have an interesting idea of building an NFT cross-chain bridge, you will be informed in the future about more details.

NFTmoon

How can the community contribute to the progress of your project? Do you have a Governance model? Do you care about community request while you decide?

Hunter Cheung| HurricaneSwap

Once the DAO feature is lived I think Hurricaneswap will be 99% community driven project and yeah we will listen to the community request unless it is security related issue we will still step in when needed. We will be with this project the whole time, from beginning to the end.(Hopefully it will never end LOL!)

Yến Nii

When THE BEAR MARKET COMES, WILL your token PROBABLY DUMP? Are you prepared for this bear market? How will you handle the panic of your Investors?

Hunter Cheung| HurricaneSwap

I think there is really no bear market for the on-chain world, I mean the market will always find the next hot spot, from DeFi to GameFi to NFT. I don’t care if somebody decide to dump, it is their token and it will be their choice to make, but those with diamond hand I think will be rewarded the most in the long term.

Superr Mann

Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2021 and beyond?

Hunter Cheung| HurricaneSwap

Some of the big name investors including Huobi Ventures, Bybit Investment department, A & T capital, they not only invested in us but also helped us along the way. As for the revenue, most dex has really stable cash flow, so I personally believe Hurricaneswap will stick around for a long time. As for our goal on the developing side was to launch Hurricaneswap V3 before the end of 2021 and got listed on more centralized exchange in the near future.

Dave Donnenfeld| Avalaunch

Well done!

Hunter Cheung| HurricaneSwap

Thank you Dave and thank Avalaunch community for giving me this wonderful chance to share with you nice folks, stay with us and long live the bilockchain!

Dave Donnenfeld| Avalaunch

@hunterhaonan many thanks Hunter. This was informative for sure and you made it interesting. Appreciate the bit of edge too. I hope that our community will diamond hand their way to HCT rewards. Again, let me throw a link up to your socials —

Twitter : https://twitter.com/HurricaneSwap
Telegram:
-English Group: https://t.me/HurricaneSwap
-Simplified Chinese Group: https://t.me/Hurricane_zh
-Announcement: https://t.me/HurricaneSwap_Announcement
Medium: https://hurricaneswap.medium.com/

On September 29, 2021 @ 12:00 p.m. (PST), an AMA session was held in the Avalaunch Telegram with special guest Symington W. Smith, Founder of Hurricane Swap.

Below we present to you a recap of the AMA with questions and answers.

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Dave Donnenfeld| Avalaunch

Today, we are fortunate enough to have the founder of this heavily anticipated project with us, Mr. Symington Smith. Symington, welcome to our active, vibrant and lovable Avalaunch community. @Symington_Smith How are you today?

Symington Smith| HurricaneSwap

Hey everyone!

I’m good. How are you doing today?

Thanks for having me here, it’s a pleasure to share the latest news about HurricaneSwap with you guys.

Dave Donnenfeld| Avalaunch

Good thank you. We have a lot of questions for you today so let’s not keep the good people waiting. It is definitely our pleasure to have you.

So let’s get right into it

For starters, please give us a bit of background on yourself. What did your career and education look like before crypto, and how did you end up focusing on blockchain technology?

Symington Smith| HurricaneSwap

I’m the founder of HurricaneSwap and also VP of the Beijing Chamber of Commerce in Thailand.

I’m half Chinese half Swiss, but actually I’m American.

I grew up in Beijing and that’s why I have lots of Chinese friends and business partners

And you can see some of the investors of HurricaneSwap are China-based.

I graduated from Peking University in 2018, and then I went to King’s College to study globalization and global affairs.

During my time in college, I started getting into Bitcoin and I found out there are so many captains of all kinds of industry holding Bitcoin and getting excited about the future of blockchain.

Then I realized I must dig into it.

So I joined the Oxford Blockchain Strategy Programme

I know it’s kind of nerdy

But I have no tech background, so the way I get into blockchain is, I learn.

Dave Donnenfeld| Avalaunch

Being nerdy has been a good thing for awhile.

That’s an impressive and varied background to be sure.

What is HurricaneSwap at the highest level and what problem is it solving? Why is now the moment in time to be building this protocol?

Symington Smith| HurricaneSwap

At the first glance, it seems like HurricaneSwap is solving the problem of cross-chain.

However, at its core, HurricaneSwap is actually solving the problem of the lack of high-quality assets on the Avalanche chain.

High-quality assets are rare and highly valuable to a newly developed chain.

On the one hand, the ecosystems of different chains are relatively independent

Even mutually exclusive sometimes.

On the other hand, there is not too much demand for technical innovations for DeFi.

At the beginning of DeFi, there were a lot of amazing innovations, such as lending, DEX, and yield farming.

However, recently, there’s no more phenomenon innovations like before.

This is completely normal.

In this case, I believe it is getting harder to find a unicorn project on a new chain.

When it comes to Avalanche, there’s an urgent need for high-quality assets, we can see how much effort they put into AVAX Eco.

As a DEX based on Avalanche, HurricaneSwap is designed to bring valuable assets from other chains to Avalanche.

When we started HurricaneSwap, we were actually worried. It seems like Ethereum will constantly dominate the blockchain world, and new chains developed by CEXs (like BSC and HECO) do not have a competitive edge except for lower gas fees.

However, in recent months, we have seen SOL, NEAR, MATIC, and most importantly, the rapid development of AVAX, which are all exciting news to us.

As long as there are more than one chain in the market, there will be demand for cross-chain transactions.

As long as there are more chains growing up, there will be more valuable assets

Then our competitive advantages will be maximized.

So now it’s time, it will be the perfect timing for HurricaneSwap to launch next month.

Dave Donnenfeld| Avalaunch

It would be appear at first glance to be a straight cross-chain play, but, like so many good blockchain endeavors, it’s more. Your points are noted and sound.

How long has the project been in development? Was there a long research and ideation phase before work began?

Symington Smith| HurricaneSwap

We got the idea of HurricaneSwap one year ago

And then our CTO, Hunter, started to crew a powerful team. They only took 4 months to finish the development of Roke Protocol, and completed HurricaneSwap V1 in June this year.

It didn’t take too long that we got the idea of building a cross-chain DEX on Avalanche.

Before beginning the process of ideation, it’s important for us to have a clear mandate for moving forward.

Me and Hunter, we know Avalanche at the very beginning

Avalanche is designed for DeFi, and it is powerful enough to provide us with the best development space.

Also, we noticed transactions on Avalanche are very active.

However, according to comparative data of X chain and C chain, the number of users participating in the Avalanche ecosystem is far fewer than holding or trading $AVAX.

That means a large number of users have recognized the value of Avalanche, but they never get involved in the Avalanche ecosystem.

And that’s the moment we realize that there’s a huge opportunity to build a cross-chain swap on Avalanche.

Dave Donnenfeld| Avalaunch

You mentioned Hunter so maybe it’s a good segue to tell us a little bit about the core team and how it came together.

Symington Smith| HurricaneSwap

As you can see, there are 4 members in our core team

Hunter is our CTO and he is also the first author of Roke Protocol, which is the most innovative part of HurricaneSwap.

James is pretty experienced in crypto investment, beside that, he is also good at marketing and IMC, so he’s leading our marketing team.

Ted is co-founder and chief Architect of Ava Labs, it’s an honor that he could be our chief adviser and he really gives us lots of support and help.

Actually, Ted and Hunter, they are friends in high school, they are both from Chengdu.

James is my classmate in Peking University, we have been friends for seven years.

So basically, we all know each other very well and I think the relationship between us is pretty solid.

Dave Donnenfeld| Avalaunch

Well as a half Chinese, half Swiss American who grew up in Bejing, I’m sure your friends come from far and wide.

It’s a great ensemble cast for the project. I assume there are multiple approaches to solving the problem of cross-chain liquidity. Why is HurricaneSwap’s current architecture the optimal solution?

Symington Smith| HurricaneSwap

Yes, I agree with you, there are many solutions of cross-chain liquidity, like cross-chain bridge.

Actually, the cross-chain bridge was designed to be a low-frequency tool, like WBTC or RenBTC.

Technically, it is quite difficult to develop a cross-chain bridge.

Also it’s hard to earn profit as a cross-chain bridge, because users will not trade if the transaction fee is too high; whereas when the transaction fee gets too low, the mechanism of Nodes would fail which would lower transaction efficiency and raise slippage.

In the case of most cross-chain swap, they actually develop a cross-chain bridge and then find out it’s hard to make a profit, so they decide to make it as a swap.

However, they barely know about trading so they can’t give users a good trading experience.

HurricaneSwap is different.

We are designed with true needs and always thinking from user-side. For example:

What do LPs need?

Higher profit, fewer steps, and absolute security.

What do users need?

More choices of high-quality assets, lower slippage, and absolute security as well.

HurricaneSwap takes each and every single one of the needs into account, and does not compromise on any of them, which makes HurricaneSwap a unique swap comparing with others.

Dave Donnenfeld| Avalaunch

The dilemmas, the trade-offs, having to optimize for varying agendas i.e. the things that people don’t see until you’re underway.

Symington Smith| HurricaneSwap

exactly

Dave Donnenfeld| Avalaunch

Although you broached it earlier, maybe you can say a little more on why you decided to build HurricaneSwap on Avalanche?

Symington Smith| HurricaneSwap

Like I was saying, I think Avalanche has so much potential

It’s designed for DeFi, it’s powerful to build, the transactions on it are pretty active.

And most importantly, we see the gap between X chain and C chain, it is a huge opportunity.

What HurricaneSwap aims to do is attract more $AVAX holders and traders to participate in the Avalanche ecosystem

We can benefit Avalanche and create more value by providing more diverse cross-chain assets.

So it’s beyond “we chose Avalanche”, it’s more like, we need each other.

Dave Donnenfeld| Avalaunch

This kind of struck me earlier. People are active on the network but not yet engaged due to the lack of quality assets. It’s the hidden thrust behind Hurricane Swap.

On another note, I could not help but notice that one of your advisors is Ted Yin, the chief Protocol Architect & Co-Founder at Ava Labs. How has he helped bring the vision of HurricaneSwap into reality?

Symington Smith| HurricaneSwap

I believe everyone here is familiar with Ted

Besides being the Chief Protocol Architect and co-founder of Ava Labs, he is also the first author of HotStuff.

HotStuff is revolutionary when it comes to protocol, and not to mention the breakthroughs of Ava Labs, about which Hunter might have more to say.

Maybe you can ask him about this in the next AMA.🤓

For me personally, I believe the biggest help from Ted is actually in making the idea of HurricaneSwap come true.

Ted is an expert of protocol for sure, but the best of him is that he is always receptive to new ideas.

When we first came up with the idea of HurricaneSwap and told him, he was so supportive, and joined us as an advisor right away.

But recently we realized that he actually started the development of Avalanche Bridge at that time.

That means they already had the solution of cross-chain, but Ted still encouraged us to develop HurricaneSwap. That means a lot to me.

Besides supporting us on the technical side, Ted was also referring investors to us during our private fundraising, like A&T.

So basically Ted is not only an advisor to us, but also a very good friend who is always being supportive.

Dave Donnenfeld| Avalaunch

He sounds pretty invaluable especially when it comes to taking an idea and putting the proverbial meat on the bone.

How do you view other DEXs built natively on Avalanche? How might HurricaneSwap work to elevate the entire ecosystem, instead of competing with it?

Symington Smith| HurricaneSwap

A few years ago, there was no such thing as DEXs nor cross-chain swap.

But there is always demand for “cross-market” trading.

For example, you can trade both stocks and bitcoin on Robinhood. It’s actually a kind of “cross-chain”.

At present, AMM brings more possibilities for cross-chain trading.

For example, let’s suppose you are a professional trader, you know the price correlation between U.S. dollar and bitcoin, you also know the price correlation between U.S dollar and gold.

Then theoretically you already know the price correlation between bitcoin and gold, then maybe you want to short gold with Bitcoin or whatever. But you can’t trade like that actually.

It’s impossible in the traditional market due to the regulation, different pricing arrangements and of course the liquidity.

However, in the case of AMM, technically speaking, you can trade bitcoin/gold directly.

Imagine that, how cool it is!

As for me, I don’t think we are competing with other DEXs on Avalanche.

Dave Donnenfeld| Avalaunch

Now that would be an awesome pair for Peter Schiff.

Symington Smith| HurricaneSwap

lol

Dave Donnenfeld| Avalaunch

Didn’t mean to interrupt you but thought I’d take a potshot at Schiff.

Symington Smith| HurricaneSwap

I get it, no worries.

At this point, the most important thing is to boost the ecosystem together.

Dave Donnenfeld| Avalaunch

Agreed. I think people overplay the element of competition when you have a space with such vast potential. You put a restaurant in the middle of nowhere and no one comes. You put 20 of them, even in a remote place and suddenly you have a destination.

In what ways is HurricaneSwap designed to support the HCT token holder? What is its utility?

Symington Smith| HurricaneSwap

Here you can see the tokenomics of HCT.

As the native token of HurricaneSwap, $HCT represents holders’ many rights.

First of all, the right to vote. HurricaneSwap is a community-driven project, after we launch the mainnet, $HCT holders are expected to participate in project governance, including token listing, marketing plan, community development and so on.

More importantly, users need to burn $HCT to vote. Based on the experience of CEXs, that kind of listing activity could burn hundreds of millions of tokens.

Further, we see $HCT holders like our shareholders, so we will reward users who hold and stake $HCT with 1‰ of our transaction fee profit.

That’s a lot.

And there are two more special parts about our rewards mechanism.

First, the reward will be issued every day, so the price fluctuation of $HCT wouldn’t affect users’ benefits.

Second, the reward will be issued in $AVAX, which means we will buy $AVAX in the secondary market and reward it to $HCT holders.

In future, we will explore more $HCT application scenarios, and you can stay tuned to our website for more information:

https://hurricaneswap.gitbook.io/hurricaneswap/faq/7.-tokennomics

Dave Donnenfeld| Avalaunch

At this stage, what can you tell us about your business development? Are you actively seeking collaborations with other projects and protocols? Is this something that HurrucanSwap benefits from?

Symington Smith| HurricaneSwap

At this stage, we just finished the testnet promotion of HurricaneSwap V1, there were almost 200K addresses in our testnet

This number is amazing as there were around 130K addresses altogether in Avalanche testnet at the beginning.

Meanwhile, we have already completed the development of V2. PeckShield is doing the security audit, we also invited some white-hat hackers to help us to test.

So I think the most important thing right now is making sure HurricaneSwap V2 could launch on time, it’s scheduled on 10/10.

Once the mainnet is live, if everything goes well, we will establish more business partners.

And we will definitely look for business partnership opportunities in AVAX Eco at the first stage.

You see, Avalaunch is one of our investors, Mark helps us to get in touch with lots of influencers and introduce HurricaneSwap to so many AVAX users.

And JD Gagnon, co-founder of BENQI, he invested in us as well. Also Pangolin, we talked to them at the very beginning and we both agree that there should be more cooperation between us.

Dave Donnenfeld| Avalaunch

This is very impressive stuff. Shoutout to @dubpluris As you noted earlier, you and Avalanche need each other.

You just answered that. Mea culpa.

Your mainnet is currently set for October 10th, shortly after the Avaluanch IDO. What part of the roadmap does that deployment represent? What can we expect as a user in 3, 6, and 12 months?

Symington Smith| HurricaneSwap

I’m proud to say, so far, everything is on schedule.

Speaking of future plans, I think the most important thing for us, or any cross-chain swap, is to continuously expand to new chains and new assets.

Within the unique design of HurricaneStation, we could build our station on each chain rapidly .

Furthermore, HurricaneSwap is a community-driven project, so we will definitely make it DAO.

It won’t be easy to achieve decentralization, but we will try our best. After we launch the mainnet, we will announce plans about DAO very soon.

Besides, our tech and product team are so creative, so I believe you will see more trading features and new functions on HurricaneSwap, like vault on HurricaneStation, we already have plans on that.

Dave Donnenfeld| Avalaunch

This migration is never easy but you’ll have such a framework in place, hopefully it will continue to run elegantly.

To keep a theme alive here — how does HurricaneSwap benefit the entire Avalanche ecosystem?

Symington Smith| HurricaneSwap

First of all, we believe in Avalanche.

That’s the most important thing.

Because of that, benefiting Avalanche is our first priority.

Actually the whole design of HurricaneSwap is to benefit Avalanche

We aim to bring more valuable assets to Avalanche. That’s what Avalanche needs most at this point.

Besides, I have lived in China for many years, so I’m quite resourceful in China.

I can see that Avalanche attach great importance to China market and the whole Asia market, so I hope I can help them to expand into new markets in Asia. Let more people know about Avalanche.

Dave Donnenfeld| Avalaunch

Final question before moving on to the Twitter questions — You alluded to it earlier with the vault so maybe you can expound a bit more. HurricaneSwap also sets out to offer a suite of DeFi tools beyond a DEX. What does the long-term vision of HurricaneSwap offer to its users?

Symington Smith| HurricaneSwap

Now we define ourselves as the 1st liquidity cross-chain DEX based on Avalanche.

The mission of HurricaneSwap is to provide users with a high-performance, low slippage, low-cost and seamless cross-chain trading experience.

I would not overstate our vision, because trading itself is awesome and should be respected.

We will just stick with the product and satisfy all kinds of needs from users

Speaking of vault, I cant tell more details actually 🤭 But you should be suprised.

Dave Donnenfeld| Avalaunch

Your core competency certainly fills a massive need. Now, moving on to the Twitter questions. Much of this has been covered already but feel free to expound upon as you see fit.

From @JaysonHinrichs1 Staking is the new trend. What staking options are available for $HCT token? Are there any incentives for staking? What are the various ways to earn $HCT token and are there any limits to amount of $HCT I can earn?

Symington Smith| HurricaneSwap

There are many options available on the Farm.

I can’t tell you the specific options at present, because there might be some changes during the test time.

Once we launch the mainnet, you can see it on our website: hurricaneswap.com

Like I mentioned, we will reward staking users not only $HCT, but also $AVAX as a share bonus.

You can get $HCT from staking for sure, meanwhile we will have all kinds of trading activities after mainnet launched, so you can get extra $HCT as reward.

There’s no limit to how much you can earn, but you should follow the rules of activity.

Dave Donnenfeld| Avalaunch

@amiich_ I’m curious about the team’s record. I think it is important to invest on a project who has a reliable workers. Do the team already worked on something related to crypto industry and how many of you in your team?

Symington Smith| HurricaneSwap

All members from our team are experienced in crypto before. As you can see, Roke Protocol is our original development and so far everything in the developing process is on schedule.

That’s because our tech and product team are mostly from CEXs and crypto wallet.

And members of our marketing team used to work for crypto funds, media and community.

So you can see there are more than 42K people in HurricaneSwap TG group, and 45K followers on Twitter. It only takes us 2 month to get there.

Thanks to our wonderful marketing team, now we have a strong community and everything is organic.

Dave Donnenfeld| Avalaunch

There was a lot of visibility for the project dating back and the amount of testers you attracted is testimony.

@wannkid How does hurricane swap fit in the $avax ecosystem with power houses like
@pangolindex and @traderjoe_xyz already there as well as strengthening @LydiaFinance
(with 2 bridges!)

Symington Smith| HurricaneSwap

HurricaneSwap is different from any other DEXs or cross-chain DEXs. That’s the key point.

I could say, the Roke Protocol and LP-bridge mechanism are highly experimental and forward-looking.

Besides, like I was saying, we are not competitors as we have a common goal to make AVAX Eco more prosperous.

Dave Donnenfeld| Avalaunch

@Kirillova9Vika What kind of partnerships with different projects/platforms/protocols can we expect from HurricaneSwap in the future? Could you give us some examples of how other projects can leverage HurricaneSwap ?

Symington Smith| HurricaneSwap

I already talked about our plan of business partnership in Question 10 at the previous session.

But I can share a list of all investors and partners that we are working with.

Dave Donnenfeld| Avalaunch

Last one from Twitter — @zotov_mitya Does HurricaneSwap use a vesting period system to avoid dumpers?

Symington Smith| HurricaneSwap

I think the best way to avoid dumpers is continuously increase the value and application scenarios of $HCT.

Generally speaking, the rewards of holding $HCT are quite generous, you can earn extra $HCT by staking and meanwhile you can get $AVAX as dividend.

So it’s a better choice to hold $HCT rather than dump it.

Thanks for all the question from Twitter.

Dave Donnenfeld| Avalaunch

Thank you for everything so far. We’re going to unmute the chat and allow community members to ask a few questions. Please choose five that sing to you.

Symington Smith| HurricaneSwap

Thank you all for the questions!

Avijit Sengupta

Is your project is global? Do you plan to develop more in some areas where english is not basic language?

Symington Smith| HurricaneSwap

Yes, HurricaneSwap is global because we are a DEX, there should be no country limit.

And we do have plans to develop more countries which don’t speak English. Like Vietnam, Korea, and also Turkey, Indonesia and so on. They have much potential.

Since we launched testnet, we could see there are over 100K users from 160+ countries and regions participate in HurricaneSwap.

So we realized that it’s not enough to do English promotion only.

Then we started to work with community ambassadors, they come from different countries but they know HurricaneSwap pretty well and they could promote HurricaneSwap in their own language to their own people.

Will Smith

From where you get your project name? What is the main motivation behind your project? do you have any story to share?

Symington Smith| HurricaneSwap

Hurricane means a storm.We’d like to make it become a true storm in the crypto market.

Besides, we use “Hurricane” because both “Hurricane” and “Avalanche” are natural disasters.😅

Fox H

How do you think the future development potential of the Avalanche network will be compared to Ethereum, BSC or Solana?

Symington Smith| HurricaneSwap

I think Avalanche is advanced comparing with other networks, that’s why we chose to build on Avalanche.

Although Ethereum and BSC have more or less first-mover advantages, I always believe that transactions tend to migrate from chains with higher fees and slower speeds to chains with lower fees and faster speeds.

I think it is inevitable for various transaction-related applications to migrate from the Ethereum and BSC to Avalanche. So it’s not about Avalanche taking over Ethereum or others, it is more about each chain giving full play to their strengths.

Nguyễn Tony

Security and anonymity are always prioritized by BlockChain projects in the development of project platforms and technologies. So, does you have any technological solutions or plans to enhance user trust in these issues?

Symington Smith| HurricaneSwap

I agree with you, security is always the first rule, especially speaking of DEXs.

We have seriously considered about security at the very beginning. That’ why we create a new mechanism to make cross-chain transaction.

Also, you could check the security audit report if you’re interested: https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-HurricaneSwap-v1.0.pdf

Not Me

Are you plan any Exchange for token listing?
Please tell some details about the Listing?

Symington Smith| HurricaneSwap

We haven’t make any official announcement of listing yet, but you can actually see the listing plan from our IEO partnership

Also, there are some CEXs in our investors list.

I think that’s all for today

Dave Donnenfeld| Avalaunch

Symington, thank you very much for your time today. As informed as I was, I learned something and am really coming to appreciate the vision behing HurricaneSwap. It’s robust and indeed more than what it appears to be at first pass. I think our community is lucky to have the opportunity to participate in the sale and I look forward to the technical deep dive tomorrow. Thank you again.

Symington Smith| HurricaneSwap

Thank you again for having me!