The Humswap team described plans for NFTs on its upcoming DeFi platform in a recent Neo Live. The Humswap co-founders, Mario Lopez and Jason Tezanos, joined the AMA hosted by Neo Global Development to discuss the utilities of the platform’s two upcoming NFT contracts, collaborating with Neo ecosystem projects, its multi-year roadmap, plus more.

The Neo Live AMA was made up of three segments: Prepared questions, community questions, and trivia.

The Humswap team plans to distribute ten Pixel Bowl NFTs to participants from the AMA event. The first five NFTs will go to the originators of the five questions answered during the community question segment, and the last five will go to the winners of the trivia quiz.

The full transcript can be found below:

Hai Vu (Neo Telegram admin): Let’s start the first session with information about your project, Humswap.

Mario Lopez (Humswap co-founder): Hi there! Yea so we are a NFT/DeFi platform that aims to merge NFTs plus DeFi together. Allowing NFTs to have a function other than just aesthetics. So we are currently in the first phase of releasing those NFTs in the coming months and then our goal is to release the DeFi products after the NFTs.

Question 1: What is Humswap? Could you provide us some details about the project?

Jason Tezanos (Humswap co-founder): I think, first and most important, we are a DeFi project and will run a DEX. Though, we are building a slew of high-quality features onto our NFT side of things.

Mario: Owners of our NFT will have some awesome perks such as lower swapping fees, stackable yields, and yield multiples baked into the NFTs they purchase.

Question 2: Can you share the roadmap and what updates are coming in the next five years?

Jason: In 2021, Humswap Bowls will be released along with our updated website. Additional smart contracts will follow in the latter portion of 2021. We have done a lot of backend infrastructure work so far.

In 2022, liquidity pools, a members-only section for NFT owners, airdrops to NFT owners, and of course swapping.

For 2023 and on, we want to help foster the Neo ecosystem with open protocols that are usable by developers.

Gaming-wise, we have several that we will release in 2022 but are concepting a platform for our NFTs.

Q3: What is your knowledge in the field, and what makes you an ideal team to make this project a success?

Mario: Jason has been dabbling in contracts building for more than four years, with more than ten years in the software engineering space. He is driving the main effort for getting those contracts written. I have been working in the web and design space for around four to five years and help build the front-end with the services it needs to make this a reality.

Secondly, we have worked together already on other things for one and a half years and seeing that we work well and how we balance each other out, I think makes us a great team. Especially since we both have the desire to try new things and really enjoy blockchain space.

Q4: Why did you choose Neo N3? What benefits has N3 provided to this project?

Jason: We love Neo. A big part of our strategy will be bringing attention to the power and ease of use of the tooling and the blockchain itself. We have some interesting marketing ideas that are cooking. If you are an engineer with Solidity and Ethereum experience, you will be very comfortable with Neo.

Q5: How do you see your project fitting into the Neo ecosystem? Have you been working with any other ecosystem projects or communities?

Mario: I think we see Humswap fitting very well in the Neo ecosystem and blockchain altogether. We have yet to see many projects doing what we are doing with DeFi and NFTs, even on different chains, so I think we are adding some great value to Neo users—combining the latest innovations in DeFi with the awesome and fun aspects of NFTs.

Jason: We have mainly been coordinating with GhostMarket, as they will be adding an important feature that will be handy for all NFTs moving forward. Refreshable MetaData (similar to OpenSea).

Outside of that, it will be great to work with RentFuse as our NFTs will provide functionality.

Q6: How does Humswap compare to Flamingo Finance besides GameFi or new NFT-specific features? Will you both become DeFi competitors within the Neo ecosystem? 

Jason: We are working on something similar to what you see on Ethereum, which is slightly different from FLM. We aim to use a multi-token standard so liquidity providing can be dynamic and highly scalable (from a pairs perspective). Competition-wise, I think it is always healthy.

Q7: Are there going to be other use cases for Humswap token outside this game/metaverse?

Jason: Our NFT token symbols are BOWL and PXBL, respectively. These will be usable in both a gaming and a DeFi context. As for a Humswap Token, we see us releasing one in 2022, although there is a lot of groundwork to cover for us since we are in the US.

Q8: How strong is your team? Many projects start with a good impression and are later abandoned the project. What makes your project different than others?

Mario: Our team is pretty strong. I think, just like with any project, there are some delays here and there, but our goal is to count those into our roadmap so that we can deliver on time.

For example, if we think a product we build will take one month, we usually give ourselves an additional month of buffer space, so we have the flexibility and don’t lead people on. That is the last thing we want to do. Especially with being part of Neo’s early adoption program, it also adds expectations from them, so they continue supporting and promoting this project.

Q9: Can you explain a bit more about the metadata updates to NFTs through GhostMarket? Does that mean an NFT can have its utility change over the course of its existence to help with the platform’s evolution?

Jason: Oftentimes, NFT projects like to reveal their data at a specific time. Reasons could include a more coordinated marketing launch or that the project just isn’t ready.

On OpenSea, you may see something along the lines of a GIF or gift box to represent an un-opened NFT. GhostMarket is working on the same feature. It is also lockable so that refreshes can be finalized, and the contract can be “locked” so that there are no further updates to metadata.

Q10: Security and UI are the most important aspect that users see on a platform. How has Humswap worked on this? Is the platform suitable for newbies in the crypto world?

Mario: Yes, we completely agree. We are currently working with a design company to make sure that 1.) We have a beautiful design, and 2.) It is a design that users will be able to use efficiently and enjoy.

When it comes to security, we are building that in and ensuring that every layer of the platform that interacts with the user and our databases is secured.

With these things in mind, yes, the platform is suitable for newbies!

Vu: Thank you, everyone, for joining the AMA today. Thank you again for your time today, Mario and Jason! We’re looking forward to playing Humswap soon.

Mario: Thank you for having us. We really enjoyed this! We are open to questions on our Discord channel and Telegram channel!

Jason: We had a blast! We look forward to building great things and talking more about both Humswap and Neo with you all

Note: Some edits have been made for formatting and readability.

The full AMA can be found at the link below: