- Time: January 3rd, 2022 at 2PM UTC
- Project name: Sandwich Network
- Host: Henry from Blockchain Army
- Guest speakers: JB|CMO & RV|COO
- Main content:
- Part 1: Introduction
- Part 2: Name
- Part 3: Project & Visions
- Part 4: Team
- Part 5: Hardships & Solutions
- Part 6: Launchpads & IDO Date
- Part 7 : Tokenomics
- Part 8: Community Q&A
JB: Hello, I’m the CMO of the project. My name is JB.
RV: I’m the COO, the CEO couldn’t make it but I have everything. Anyone who would like to know about Sandwich: around the day-to-day operations at Sandwich, on the business development side, the investors, all that kind of stuff.
RV: We are focused on decentralized finance and we have seen a lot of growth with particular applications like SushiSwap or MilkShake Finance and also PancakeSwap, and we believe that the main feature for us and the name will also be a food item. We thought okay, let’s check for what kind of food item is still available and we like sandwiches a lot so we thought, yeah, we named it Sandwich. And also because of the whole branding possibilities when you have this kind of food item and we chose a logo with sandwiches kind of like a character. We can also start using it in different settings as you can see on our website so we are using the sandwich character everywhere so that’s also good for our branding capabilities.
RV: What we really believe in is decentralized finance applications, so we’ve started investing in different projects ourselves and we came across a lot of different applications when investing in those projects. So for example, you’re investing on an IDO platform like DAOMaker or Polkastarter, you will use your tools on bank of a coin or DEX tools and then you will have to invest or keep track of your investments with a PancakeSwap or Uniswap or whatever DEX you need to use on whatever chain you are on. We really thought that this was a very outdated kind of way of investing not only in DeFi but also in general. In the crypto space, you will need different applications to connect your wallet every time with different applications and that is kind of like what we thought, okay we need to solve this. We need to get all the applications you normally would use to launch your project or invest in a project in one simple to use interface and all interconnected applications. So you only have to connect your wallet once into the ecosystem and you are able to use all the applications you normally would need to connect to individually and that’s how the whole idea came to be.
RV: So JB myself and CA we are all from the Netherlands. We have known each other for a very long time, we grew up together and yeah we just started to invest in different blockchain startups and in different tokens as early as 2017, 2018 I believe. We invested together also in one of the first ICOs and we made a profit from that and starting from then we just learned a lot about blockchain in general the technology behind it and we invested in some projects together. That’s the main core team and then we have another CTO that is Sergey Golovat and Sergey is helping out with his blockchain developers team that is scattered around the world so we have coverage around the globe. We have someone in the US, we have some runs in Thailand and with this we ensure that we are up for 24 hours so we can just keep on developing. We have two business developers and we have three people in our marketing team that are helping JB get his goals done. We are in now with 10 core members or so and like four or six uh flexible workers that are helping us with our goals and we have also contact with boosting labs and blockchain developer companies with over 100 external blockchain developers and they will help us whenever we feel we need we need some extra hands to be to be faster or to give us some feedback on our development um so yeah that’s that’s kind of like our team.
RV: So the main challenge for us was getting some interest from investors and what was happening is that we bootstrapped your first application out of the four that is going to be the sandwich network. We financed this ourselves. We have been working very hard for the last seven months to create something to show the investors because we believe that there are a lot of projects that are promising to the world. They are creating a wonderful pitch and blah blah blah but afterwards they can’t deliver on the promises. What we really liked to do was we are first we are kind of like no nonsense, so we wanted to first create it and finance it ourselves and then come to the investors and show them “hey we have a wonderful idea and we developed the first application ourselves already so you can know that we are capable of delivering our vision.” And then two months ago, we finished our beta. Then we started to contact some of the investors and we made a complete list of over 120 to 130 investors. We emailed every one of them via Linkedin, Telegram, whatever needed to be done, but we got zero response. That was kind of quite frustrating because the whole play to earn games where everything was going up and up and there was a lot of VCs’ money throwing around but they had those projects that didn’t have anything to show for. That was kind of frustrating for us because we’ve been working our ass off for the last seven months and we come to you and no one is responding so that was quite difficult for us. Luckily we haven’t given up and we got in contact with our elite VC that is Magnus Capital and Magnus has provided us with interest. They have taken a large sum of our capital in the seed sale and then they introduced us to their network and mostly to those same VCs that hadn’t responded first at us. Only now those same VCs were interested because Magnus has fought for us. So that was very good but that was kind of a challenge for us because we know we have something really really good and we have a ready product and then we didn’t get any traction. That was kind of like a challenge we had to overcome but luckily Magnus did see the things we envisioned and they are very much behind in this.
6. Do you have any plan ahead for this year and what is the target for Sandwich Network to achieve in this year in 2022?
RV: I completely agree 2022 will be a very important year. It will become a very important year to establish Sandwich Network as a blue chip project and a company. What is planned is that our IDO launch will be in January so I will get my exact schedule here. We finished the strategic and a private sale and what we are doing right now is we are aiming for the 13th January to have the public sale. Actually we have 100k ido listings so one is with Infinity Pad, one is with CyberFi Samurai, one is for Sandwich Network of course. That’s the last one that will be held on our own platform to show everyone how good it is working and one is still being determined but probably will be … I can’t say yet but it will be a very very nice launchpad so that is kind of like what we are aiming for 13, 14 and 17 January or 18th in January then we will have TGE at 19 January, I will send this form also in the group later so everyone can have a look at it. Then afterwards after 19 january probably six days, seven days after we will be listed on one of the top tier centralized exchanges. Also I can’t name the exact one but it will be one of the main top exchanges because of the connections our VCs are having. That’s for the whole plan for the launching afterwards. We are having over eight, nine different updates ready for launchpad. We are not implementing it right now because we want to keep the community engaged. What we are doing instead is that we have planned for every week after one new update and I can give you some examples of those updates. One of the updates will be multi-chain so we will cross over to Avalanche, Ethereum. We have Polygon ready and we are looking at Solana but Solana is a different coding language so it’s a little bit more tricky but those are ready. Then we have an airdrop, a multi sender. We have a ready whitelist, private sales so all kinds of useful stuff will be coming out every single week. In the meantime, we are releasing those updates for one of our applications. For our launchpad, we are working but we will be working on the next application big update for our ecosystem and we have approximately 12 weeks. We need 12 weeks to complete one application so you will have 10 to 12 little updates on one application. Then you will have one application added to the ecosystem and so we will have approximately in three to four months when the whole ecosystem is ready. In the meantime, you’ll get a lot of smaller updates per application. That’s all planned out for 2022. Of course we have the staking and the farming solution ready so whenever someone is buying Sandwich they can stake their tokens and get very high APY and get even more Sandwich tokens.
7. Can you clarify more in detail about tokenomics? What are the utilities of Sandwich token for the tokenomics and the whole distribution?
JB: For the allocation for Sandwich, we have allocated 80 million tokens for the seed sale, 120 million for private and 25 million for the public sale at different prices so you’ll see 0.012, 0.014, and 0.060. Those are our tokens that are available for fundraising. Liquidity pool will be 20 million whereas 80% of our 90 will be added to the 80 of the public sales. So 20 million tokens will be added to the liquidity pool with of course the 80 raised BUSD on the IDO. Then we have the ecosystem incentive so this is the biggest allocation size. I wanted to use another word but I don’t know but it’s the biggest allocation size. Why do we use the ecosystem incentives for our farming and our staking solution? We are still deciding on different methods. Probably we will be having a Sandwich BUSD farm on PancakeSwap and what this will do is incentivize our users, our community to add liquidity to our pool. They will get their LP tokens and those LP tokens can be farm on PancakeSwap. They will in return get more Sandwich tokens in their wallet. That will be the main feature of the ecosystem incentives. Team is 150 million tokens so advisors are 50 million, marketing is 100 million, and treasury fund is 100 million. Maybe it’s better to go down to the real release schedule because we have a very innovative solution to our token release schedule. What we are actually doing is we are creating a very very low market cap. We are starting at TGE with 80k so that’s a very small amount we can go a lot. We have the seed seal and a private sale. We have a one week cliff at TGE and then 10 percent analog and 50 unlocked. What will happen is that we are only having 20% unlocked at TGE for the 400k IDO so this will result in a 10% of 400 and 20 to 400 will result in 80k starting market cap. That’s for the team and advisors. It seems they go up one more time. This is quite a lot 15 and 5 of the team and advisory tokens. The team tokens have a six months cliff so the team will not get any tokens released in six months so zero. Then we are using a revolutionary linear vesting method that is not based on a single amount of time. What this means is that we have our vested for 24 months and we are vesting per millisecond. Every investor has a page. On this page you will see everything you need to know about the project and about your investment .You will see 365 days of linear vesting and every second the smart contract will release your tokens so you are paying the full amount and you will get your tokens. You will see your tokens there and every millisecond there becomes more tokens available because of the dripping and the millisecond release of tokens. Then you are in control of when you are claiming your tokens that are available to your wallet. This one saves enormous gas fees and this is making sure that we don’t have any particular dumping moments or coordinated dumps because when you are having a weekly vesting releasing or daily or whatever you have a certain point of time in the future where 100,000 or 200,000 users will get their tokens. Of course maybe they don’t want to sell because they believe in the project. The more reasonable solution is to create an environment where people who want to sell can sell so they can safely offload without interacting or making huge amounts of fluctuations in the pricing of Sandwich. We are different. I believe we’ve come up with it but I really believe that we are the first ones that are doing this. In this manner, we have a lot of VCs that are already clients now of ours because they also want to use the solution. That’s kind of like what we’re doing with the tokens. We are moving on to the token utility. The utility of the token will be of course the farming solution and the incentives for staking will be high so people will be buying it to get some extra APY. That’s one of the solutions, the incentives but it’s not really a utility. We believe the utility of the token will be at first discounted prices. These prices are discounted fees when using our platform so when you are creating not investing but when you are creating a product project on a platform, it will cost you a certain amount of PSD or BNB or whatever or whatever chain you are on. This is kind of like the fees you need to repay when you have an amount of Sandwich in your wallet. These fees will be reduced to 10 times less so it’s a really good incentive for people to hold Sandwich if they want to create a project on our platform. That is for the application we have ready now for the next application send would save you our ido launchpad. We’ll have a fixed year system, a very regular tier system that everyone has like DAO Maker and Polkastarter, based on the number of Sandwich tokens. Holding more tokens will mean higher pool weight and possible allocation sizes for the Sandwich tools. Our next application will be holding x amount will get you access to different parts of exclusive features and exclusive tools that are non-accessible without Sandwich tools or Sandwich tokens. Those are the main functionalities, the main utility for the token at the beginning of the ecosystem but with every application that is being added to this ecosystem because we have a lot of plans also for auditing. For example, we are talking with a lot of auditing companies or contractors to have some kind of Sandwich audit solution to also make sure that our contract is sound. We are looking into that as well and also for example, how to create a DAO, that’s also an application we are looking at. We are looking to integrate in the ecosystem later. What I’m trying to say is that with every new app that’s being added to the platform, this will result in more utility for the Sandwich token and of course for the token holders in general. With every new application, there will be more utility and these are the first utility for semicircles.
8. How will Sandwich Network solve the existing DeFi problem like gas cost, complex DeFi strategies, and fraudulent projects? How can Sandwich Network help increase your clients’ investments?
RV: Let’s start off with the first one. The second one I don’t really understand. I believe that the main question is why sandwich tokens will go up or how we will help project starters or people that invest in projects on our platform to increase their investment. So that is like a follow-up question. I don’t know if he can elaborate on that but in the meantime I will give an answer to the first one. So gas costs are actually embedded into the chains. For example Ethereum has very very high gas costs because Ethereum is being used that much. A lot of other factors that make Ethereum a lot more expensive than for example Binance Smart Chain (BSC). This will be solved when Ethereum goes to Ethereum 2.0. When this is going to be we don’t of course but how are we solving gas costs I think the investors and the project managers can choose from multiple chains to get a gas cost and guest fees that they can find acceptable. For example BSC has a very low cost. That’s also why Sandwich token is on Binance Smart Chain and not on the Ethereum network because of the high gas fees of Ethereum and the low gas fees on BSC. Our application can run on both and wouldn’t it will be running on both but our own native token will be held on BSC because of this particular problem. Complex DeFi strategies, I don’t know what you mean by this. Do you mean leverage farming laboratory arbitrage? It’s all DeFi strategies but I don’t know what you mean by fraudulent project. We are actually implementing Know Your Customer (KYC), an automated KYC APY. Onfido is a partner of ours and it’s also being used by a lot of banks so you don’t have to fill in all your customer application forms or stuff like that No, you just are needed to make a picture with your ID or password or whatever some kind of identification form and your face next to it. The application will check this and you will be screened automatically so we keep it as decentralized as possible. No human errors, just a computer that is solving the KYC needs of Sandwich. That way we hope to only get a good project and that’s not the only thing we are doing. We also have antibiotics at a debuff mechanism in place for our pre-sales and private sales. Plus we have whitelisting services.
9. Is SandwichSwap special or only supported within the Sandwich project ecosystem? In the future, does the project plan to develop any other network besides BSC?
RV: We have multiple chains. We are continuously developing other things. That answered the first question. For the second question, SandwichSwap actually will not be an external DEX because for this simple explanation that if we were to create a new DEX, we are and will be the direct competitors on every chain to the dominant DEX. On PancakeSwap, we will go on minus marching; we will be a competitor of PancakeSwap. On the Ethereum team we will be competitors of UniSwap or SushiSwap or whatever, we will have a lot of competitors. We really believe in adding to this system and not needing to have 100% market share. What we are doing is we are creating SandwichSwap as an interface to be able to access PancakeSwap or UniSwap or SushiSwap or whatever chain you are on through our network so that you are still keeping your ecosystem. You are still keeping your one-stop shop but you will be using an external application on our platform so that we don’t have to be in competition with every DEX on every chain because it’s a fool’s game. We believe and also you know it’s better to be cooperative. We provide the customer a more convenient way. That’s also because ancakeSwap or UniSwap or SushiSwap are already established so they have a very very very large user base. When we give them access to this, we really believe that those users could become users of the Sandwich Network ecosystem because they can still access their DEX through Sandwich and they don’t have to switch DEX so they need to learn again how it works. No, they can just keep their wallet connected in the ecosystem, use the application we provide and keep on using your application you already use. I think you know a much smarter way of dealing with the product right now.
10. Can you talk about the fees that users have to pay when mint, launch, and lock cryptocurrency tokens in Sandwich Network? Sandwich Token is a token used to pay fees or can BNB, USDT,…?
RV: Not sure about the last part of this question but let’s get started. So those fees will be paid on different chains. When you are using Minus Marching, you will be playing in BNB or BUSD because those are BEP20 tokens. USDT for example and Ethereum, those two will be used when you are using the Ethereum chain. When you are using Harmony chain or Avalanche the native tokens and one stable token on those particular chains will be used to pay for the smart contract interactions and the services on Sandwich Network. So just to be, it’s the native token plus a stable alternative on every chain so we have two options
RV: Web3 is kind of like a word that is being used for the next revolution in internet and web. That is a new way of accessing restricted content. For example you have on web2, you have Netflix, you need to login or you need to pay for something then you have your content that is locked. In web3, if you are having one NFT or a token that represents your ownership or your ticket or something like that, you won’t have to have any login information. You will just have to connect your wallet and they can see that you have paid for something . You have that particular key to accessing that restricted content but that is one of the things that makes web3 so fascinating. There are a lot of things that are contained in web3 so it’s not only a trend. It’s not an upcoming trend of crypto. No, it’s the next step in our web, in our internet experience. So what makes Sandwich stand out from other rival projects? I believe that’s not a question that is correlating with the web3 thing but I can answer that question separately. Like I said, we aren’t aiming for 100% market domination. We are having a market share because we have an ecosystem and we have different applications. All of our applications individually will have competitors who are already established but we have the same level of quality and hopefully a better user experience than every application separately. We really much believe in the power of convenience so that we don’t have to be 100 times better than our direct competitor but we only have to be as good as them to gain some kind of market share because we have our unique selling point is that we have everything in one place. We can move to different applications really easily and this will make sure that we can be in competition. We don’t have to win everything. We don’t have to eliminate DAO Maker or Polkastarter. No, we really believe that there is room for us at 20% or 25% of launching those particular projects. If you do that in every segment, every application, we are venturing into this so this will get us a lot of revenue. We can grow our platform exponentially so that’s kind of like our visionary idea. We can compete with every application individually. There is no one that can give the user experience that we are bringing to the table because they are all separate. We are one easy to use interface, one easy to use ecosystem.
12. NFT is one of the hottest and the most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? What is Sandwich Network’s approach to the NFT sector?
RV: NFTs are mostly being traded on the Ethereum network. What Sandwich believes is very important about nft technology is the experience and represent value at different applications or at different points in time in the blockchain space. For example, one of the very useful things about NFT would be for streamers or creators. Let’s say you are a singer; you create a song in the traditional way; you will go to a record studio or a record company. They will assign you; you will get your payday and you will get 20% or 15% of total sales so that is like a centralized system. It is like you have a middleman that gets a cut. What Sandwich and I in particular really like about the NFT is that you as a creator can cut out this record studio. You can be in full control of your created content. If you have a song, you don’t have to pay uh or only get 20% of your work. No, you will get 100% because you will distribute your album or song or whatever as a NFT. Now what happens then is that your fans, you are fully funded and financed by your fans – the people that buy these NFTs. You will get a large community around it right from the start of your release. You get funded by your community, by the people that love your work. That’s one thing and you will keep 100%. Third thing is the royalties so when it’s being sold, not only will your community profit from this but you will also get something in secondary sales. Those are the three things that I really think will reshape the whole publishing, in the whole or artist world and I think that’s a very good place to start off exploring what NFT technology could bring to the table in the future. A lot of NFTs that are being created today are just pieces of art that are being sold to the highest point, they will get some hype and eventually it goes to zero. That’s kind of my opinion on NFT for now but in every market there will be some kind of NFTs that will keep on increasing in value just like in the normal art world because the Mona Lisa is not going anywhere soon and I don’t think. You will also have a different kind of NFT but I think 80% of NFTs that are created right now are not having any value in five years. On the other hand, the NFT technology behind it will have a huge impact on different industries and one of the examples that I mentioned was the artist industry and the music industry.
Up to now, Sandwich Network has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.
Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.
BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.