TESTNET | FilSwan Incentivized Electron Testnet AMA Recap

We recently hosted an AMA in the WeChat group on March 22, 2022, at 20:00 pm. UCT +8, and on our Discord server on March 22, 2022, at 11:00 p.m. EST. To make sure that no one misses out from the knowledge shared by Charles Cao, the CEO of FilSwan, we’re here with the AMA recap. (Questions and answers are edited)

Read more: Multi-Chain Storage Testnet Competition — Collect points and share a 200 Fil Prize Pool!

Host: We’re pleased to announce the start of the AMA! FilSwan CEO — Charles Cao, is with us and he is going to present us “FilSwan, the bridge to decentralized storage for all”. I’m Sadé, and I’ll be the host.

Everyone here is welcome to leave your questions during the “Q & A Session” towards the end. Charles will be answering the questions selectively. All members can get the chance to have their questions answered on this channel.

Now, let’s welcome Charles!

FilSwan CEO, Charles Cao

Charles: Good evening/good morning, everyone. It’s nice to be here.

Host: Can you introduce yourself to the ones who are new?

Charles: Hi, I’m Charles, a web3 developer, Filecoin Star Ambassador, also Filecoin Enterprise Ambassador, and FilPlus Notary in North America. FilSwan has been with the Filecoin community for over 2 years since 2020. I’m also the founder of NBFS, FilSwan, and other ecosystems. I’m also skilled in Filecoin storage dealing and community management. It’s been a great experience working with the Filecoin ecosystem

Host: Thank you! Now let’s start our AMA. The first question:

Please introduce us to FilSwan: what is it? What do you want to achieve in the Web 3.0 era? What is the current state of development?

Charles: FilSwan is lay-2 edge storage and computing platform. From the user’s point of view, FilSwan offers a mechanism for developers to use and pay for different Web3 services with a single token. For now, we’ve completed the first phase: users can pay for Filecoin storage services with tokens of other chains. We’re also establishing a DAO for future governance of the project. So far, we have completed the model design for the authenticator part, which will be responsible for community governance, payment, as well as Defi management.

Host: In the future or the era of web 3.0, what goals do you want to achieve? Are there any projects or companies that you’re targeting?

Charles: In the Web 3.0 era, while many chains are branding themselves as “AWS on the blockchain”, they’re far from it. For instance, Akash only acts like “EC2” of AWS, Alchemy only offers Blockchain node services, to name a few. We believe that the real “AWS on the blockchain” should be a multi-chain computing & storage model that aggregates the pros of every single chain, that is, a Web 3.0 aggregator. This — one token fits all — should be the real on-chain AWS and the goal of FilSwan.

Host: Your latest project (Multi-Chain Storage, aka MCS) is an integrated cloud decentralized storage solution. Is it currently in the testing stage? Where can you test it? Will there be rewards for test participants?

Charles: For now, MCS is a testnet product that integrates cross-chain, Defi, token swap, Oracle technology, and Filecoin storage, you can find the link https://calibration-mcs.filswan.com. The commencement date of the test will be March 23, 2022, 12:00 UTC+8; or March 23, 2022, 00:00 EST.

Host: Do only winners of this competition get FIL as rewards? Could you explain to us what we can do with the points you’ve just mentioned?

Charles: Even the users who don’t get FIL rewards will have contribution points for community participation. They will receive token airdrops after the launch of the mainnet. They can pay for multiple FilSwan computing storage services with the tokens.

Host: Sounds good. After the testing phase is complete, what is the future direction of development? How will you address cross-chain technical challenges?

Charles: After the Phase I testing is accomplished, we will continue the development and testing in two directions: cross-chain computing service, and the DAO authenticator governance. The cross-chain computing service is a new business income for Swan Providers. The community can nominate the existing blockchain for computing candidates we could bridge. The DAO authenticator governance test is for testing the DAO governance application, including snapshot voting, community decision-making, etc.

In terms of cross-chain technology challenges, we implemented various technical solutions, like cross-chain value locking, Chainlink Oracle cross-chain consensus, and Defi price feeding. We’re building a brand-new Web3 deal market like any swap to offer web3 users a hassle-free experience. Web3 deals can be auto-matched in the Web3 deal market.

Host: Simply put, “peer-to-peer” has evolved to “exchange-style matching”, which is really a big leap forward! For our FilSwan ecosystem, what role can users play in it? How will they benefit in the future?

Charles: Users can participate in the FilSwan ecosystem in multiple ways. Web3 users can get various storage and computing services such like our MCS product: all they need to do is to upload their files in the browser, they can get an IPFS link, a File CID and mint their NFTs on the OpenSea testnet.

The Swan Providers can run the nodes easily. For now, the only reward they will receive is storage fees, there’ll be other options available: computing power, bandwidth, and more. Developers can also accelerate the development of their applications by using FilSwan’s API and SDK.

The Swan Providers can run the nodes easily. While the only payment option is storage fees, there’ll be other options available: computing power, bandwidth, and more. Developers can also accelerate the development of their applications relying on FilSwan API and SDK.

Host: It sounds quite interesting being able to mint your NFTs. Are the NFTs minted in this competition tradable?

Charles: The NFTs minted in the competition are on the Polygon testnet, so it has no trading value for the time being. It is more of an experience functionality before the mainnet launch. When the mainnet launches, you can mint your own NFTs on multiple chains

Host: Can you roughly disclose the roadmap of the future of FilSwan? What are your specific plans? When will the new products be ready for the market? Any plans to generate tokens in the future?

Charles: The future roadmap is to complete the integration of computing functionalities, the improvement of governance and collateral functions, and the integration of multi-service providers in about 3 months. The next new product launch test is around mid-May. The token generation will depend on the market and development progress. Users can expect it in the following 3–6 months.

Host: How exciting! Our last question: for the large number of users who haven’t participated in the Web3 era, why should they choose decentralized storage? Compared with the traditional cloud storage solutions, what convenience does Filswan provide? What are the advantages?

Charles: First and foremost, decentralized storage is reliable and secure. One of the critical factors “pushing” decentralized storage to go forward is geographical instability. For instance, in the conflict between Russia and Ukraine, why can American cloud companies cut off their cloud services in Russia? How can users access their data and digital assets without those cloud services? They shouldn’t have been concerned about it if they can get access to decentralized storage in the first place.

Additionally, it’s about the cost. Decentralized storage is far more cost-effective than traditional cloud services, or even free thanks to the token incentive mechanism. FilSwan is undoubtedly a Web 3.0 cross-chain solution that enables easy payment and low-level integration of developers. FilSwan greatly reduces the threshold for users and the difficulty for developers to enter Web3. At the same time, Web3 investors can also obtain certain benefits by participating in governance.

Host: Thank you for sharing, Charles! For those who are interested in the competition, here is the competition link and tutorial:

Collect points and share a 200 Fil Prize Pool!

FilSwan is gearing up to launch the Multi-Chain Storage (MCS) competition on March 23, 2022, at 00:00 EST. We are inviting global participants to join a usage competition, collect points, and share a 200 FIL token prize pool!

Competition details:


Tutorial video:


The leaderboard will be published in Discord Channel daily: https://discord.gg/tqbWXc52HC

Join Our Discord Server

For more details or questions regarding the competition, please feel free to join our discord server here.

You can also follow FilSwan’s official Twitter account here.