With the activation of the smart contract function, Cardano's ecological expansion has officially started, but at the current stage, most users may not know much about the specific projects in the Cardano ecosystem. To this end, Odaily specially invited Tech Rider, one of the founding team members of DEX WingRiders, which will be officially launched on the mainnet in Q1 this year.

WingRiders is a development enabled by VacuumLabs, the most experienced development team in the Cardano ecosystem. The latter has been working in the ecosystem since the beginning of Cardano, and has developed for IOHK, The Cardano Foundation, Emurgo and many other projects in the community over code. With such an experienced development background, what are the unique features of WingRiders, Tech Rider personally gave the answer in the AMA.

In order to make it easier for friends who missed last night’s live broadcast to learn about Tech Rider’s shared content, we have organized the main content of last night’s AMA in text, as follows:

Q1: Please give a brief introduction to the basic situation of WingRiders.

A1: WingRiders is an AMM DEX based on the Cardano blockchain. As the Cardano ecosystem expands, it will require reliable DeFi infrastructure to allow Dapps and other projects to exchange tokens easily and securely. The goal of WingRdiers is to become a decentralized exchange serving the Cardano network.

There are many DEXs on Cardano, why should users choose WingRiders? This is because the DEX platform itself does not have a trusted intermediary, and transactions are executed through the AMM model (automatic market making system), which also means that users are trading through the code base. Therefore, to judge whether a DEX is credible, the most important thing is to consider who is building the DEX and whether they have sufficient coding experience.

The code for WingRiders is provided by Vacuumlabs, who have been working in the Cardano ecosystem since its inception, having developed code for IOHK, The Cardano Foundation, Emurgo, and many other projects in the community. In total, Vacuumlabs has a team of over 250 developers, and WingRiders is one of many projects Vacuumlabs supports, which will allow the project to scale quickly when needed, and we can quickly and easily integrate with a number of other partner projects, For example, we have completed the integration with Nu.Fi Wallet, which is also a project developed with the support of Vacuumlabs. It can be said that VacuumLabs is one of the most important development teams in the Cardano ecosystem. They are continuously outputting code, and the code quality is quite high.

Q2: We learned that WingRiders was developed by the Vacuumlabs team. Can you introduce the composition of the team?

A2: One thing that needs to be clarified is that we are not "developed" by Vacuumlabs, but "empowered" by the team. Why do you say that? VacuumLabs is one of the most well-known development companies in the Cardano ecosystem. They started the development work in the Cardano ecosystem very early and have many project development experience endorsements. Among the hundreds of developers in VacuumLabs, about one-third focus on the cryptocurrency field, and the team can provide the most inestimable value in the blockchain field-experienced blockchain developers. Some of our core development team members have been working in the crypto space for 4 years, not many Haskell developers have 4 years of blockchain experience elsewhere. This background has influenced us as well, making us a developer-focused project.

WingRiders is an independent project with its own budget and team, and has a completely separate plan and performance metrics, but we do have a relationship with VacuumLabs as well, as our developers come from them. The same is true for some other projects that VacuumLabs has empowered in the field of encryption, such as Adalite and the Nu.Fi wallet that we have integrated in the testnet.

Q3: As one of the most important sectors of DeFi, a lot of DEX projects have emerged in the market in the past one or two years. Compared with the existing DEXs, what are the innovations of WingRiders?

A3: We don't like to talk about other projects, we think all the efforts to help Cardano move forward are worthwhile, but like I said before, what we launched is a fairly complete MVP product. This is completely different from a project that has just started marketing and is not as advanced as we are technically.

We've had two versions of the product on testnet, and to my knowledge this is the first time. Why are there two versions? Since the first one was MVP (Minimum Viable Product), when we announced the name of WingRiders, we ran it on testnet for about a month, and since then, our team has been hard at work, and the new version looks like More like the official version of the mainnet.

We don't announce anything until our technical team has a basic understanding of how it's going to be implemented, so if we explicitly mention doing something on the official channel, it means it's going to be very fast. almost done.

Q4: Why did WingRiders choose to develop based on Cardano instead of other ecology such as Ethereum?

A4: The simplest answer is gas cost.

Specifically, in the past 12 months, Cardano has been one of the most active public chain projects with code editing on platforms such as GitLab and GitHub. It is generally considered that Bitcoin is the first generation blockchain - it does some things well; Ethereum and some other public chains are considered second generation blockchains, they inherit some of the characteristics of Bitcoin, And add more functions (such as smart contracts); Cardano is the third-generation blockchain (for example, Solana), they have improved some bottlenecks of the second-generation blockchain from the theoretical level, such as gas costs .

Q5: For many users, the Cardano ecosystem may be somewhat unfamiliar. What wallets can we use to access WingRiders based on Cardano?

A5: Currently in the MVP product stage of the testnet, we can only access it through the Nu.Fi wallet, which is another product empowered by VacuumLabs. The reason for choosing this wallet is not complicated - the developers of both projects sit in the same office, so it is easy to communicate.

As I said earlier, looking at the projects that VacuumLabs has contributed to, including some projects developed as the sole contributor, there is no better wallet development team than VacuumLabs in the Cardano ecosystem. Because of this, we have a natural advantage in integrating wallets. We plan to cover at least 80% of Cardano (ADA) holders in a very short time.

If you've seen the list of investors we announced recently, you'll see Emurgo in it, so it's not hard to guess that we'll be integrating them as well.

Q6: For new ecology and new applications, how to attract more users and funds has always been a big problem. How will WingRiders solve this problem?

A6: The answer to this question has two parts, one is technology, and the other is market. I think I've articulated very clearly how confident we are in our technical capabilities. As for the market, I can't predict the market, but I can say that if you can build the best product, be financially responsible for investors' money, work with great people and build a great team, you can Make progress.

I have read some articles saying that even if there are 20 DEXs on Cardano, only 1 will win, maybe, but in other public chain ecosystems, this does not seem to be the case. I envision that within 1-2 years there will be 3-5 DEXs that stand out, and we are very confident that we will become one of these 3-5. I could talk about the security and transparency benefits of WingRiders, but you can also read about them directly in our blog.

Q7: Security issues have always been one of the biggest challenges in the DeFi industry. Has WingRiders completed audits by other third-party security agencies?

A7: Yes. We are currently being audited by CerTik. This is actually a key reason why we haven't launched the mainnet yet, but we don't mind waiting, one of our core values ​​is trust and transparency.

Q8: Let’s talk about the topic that everyone is most interested in. What is the token of WingRiders? What are the use cases for this token within the WingRiders system? What are the ways to get this token?

A8: We have not disclosed much about tokens for the time being. There is a reason for this. As I said earlier, we are a project led by developers. We have formulated many details, but we have not communicated with some necessary third-party organizations (such as lawyers) to confirm. So we don't want to say something to the market that might change later, please forgive us, we're not trying to hide, we're just being cautious.

One thing to say, we used to think about doing a token sale based on a pure IDO platform, like Cardstarter, but now we're looking at more diverse models, we might go with some reputable IDO platforms, but we're also looking at others delivery method, it is even possible to start a self-hosted distribution scheme locally (do your own KYC and security verification, etc.).

Q9: At the product level, what is the current development of WingRiders? When do you plan to launch the mainnet?

A9: For some reasons, we have not announced the exact launch date of the mainnet.

First of all, our audit agency Certik needs working hours. They will not directly explain how long it will take, but the audit will definitely take a certain amount of time, which is a good thing for the community. Secondly, we also need a certain amount of time for testing and development. We have a very clear list of functional updates and codes required for launching the mainnet. We are always looking for ways to improve our products, including from audit agencies and others. advice from third parties.

The mainnet will not be online for too long, but developers are not machines, and sometimes the work may be delayed due to various unpredictable problems, but we do plan to launch the mainnet and launch IDO in the first quarter of this year.

Q10: Can you briefly introduce the long-term plan of WingRiders in combination with the roadmap?

A10: Our technical roadmap is accessible, and the complete project roadmap will be released with the launch of our new website, which may be around the same time as the mainnet launch.