This article is the second part of this AMA series.
Part I of this AMA can be found here.
Part III of this AMA can be found here.
2.1 What is the best-case scenario in terms of cross-chain development?
We plan to support Polkadot, including all of its new and exciting native tokens. The best-case scenario would be a smooth and frictionless experience where Bitgear Market includes Polkadot DEXs into the algorithm and handles them like it would handle any other DEX via an Ethereum-Polkadot bridge to buy/sell on DEXs that run on the Polkadot chain. In order to achieve this, we will form extensive partnerships with projects whose sole focus is cross-chain interoperability between Ethereum and Polkadot. It is a priority to fully integrate this.
2.2 Why have you chosen to use a free vector file, easily found on the web, as your main logo? Wouldn’t it have been more appropriate to make a new custom logo?
We recently changed our name last-minute to Bitgear.io. Our focus has been on development. Since we bootstrapped this project we have been careful with expenses, prioritizing development over branding. With the aim of a healthy distribution of our token, we raised as little seed capital as necessary. We plan to migrate from our current website to the product website in the near future and we will update our branding concurrently. Also, we can not update our logo any time soon. You are all aware that we recently hosted a meme contest, it would be a shame to make the art that the community provided obsolete after such a short period of time ;).
2.3 Which exchanges is Bitgear planning to support first for cross-exchange trading?
You can expect us to prioritize the support of the highest volume centralized and decentralized exchanges, as these give us access to the deepest liquidity. However, we can not comment on these matters until official announcements are made through our social media channels.
2.4 Will you be connecting to Uniswap specifically? And if so, how do you handle Gas?
As Uniswap is a decentralized exchange running on the Ethereum network, there is no way to get around gas prices. From a long term perspective, we are very optimistic that gas prices will become a non-issue when Ethereum 2.0 goes live. That being said, we are currently onboarding a partner that is able to provide a reduction in gas fees for our users. We will comment on this development in the near future.
2.5 Are there any planned partnerships upcoming?
Yes, but we cannot disclose what we are working on or comment on anything that’s in the pipeline. Our endeavor needs strong relationships and long-lasting partnerships to fully materialize in the way we envision it. We will send out an announcement through our social media channels whenever a new partnership is formalized or when there is an update on a running partnership.
2.6 Have the smart contracts been audited by Trail of Bits or any other smart contract Auditing companies? If so, will the report be shared? If not, what are the plans for smart contract auditing?
All smart contracts will undergo auditing before being publicly rolled out. You can rest assured that we will follow industry guidelines to guarantee the robustness and safety of our platform. All reports will be shared at the time of release.
2.7 Can the team go in-depth about partnership with Changelly?
Due to the fact that there is a lot of interest in the details of this partnership. We will release an article to discuss the partnership more in-depth soon. In the mean-time we would like to refer you to the announcement which should already give you some insight into the partnership: https://medium.com/bitgear/bitgear-io-partnership-announcement-bcea4dfee725
2.8 Are you planning to list the $GEAR token on any Centralized Exchange (CEX)?
We are fully aware that our community is very interested in the upcoming listings of $GEAR. Please note that it is for the good of the project, and for you as investors, not to comment on these matters until official announcements can be made public.
We want to thank everyone in our community who participated in this AMA. Part I has already been published here and part III of this AMA series can be found here. While the submission for new questions is closed, please do not hesitate to reach out to our community manager in Discord should you have further inquiries.
-Bitgear.io Team
About Bitgear.io
Based out of Frankfurt, Germany, the Bitgear.io team aims to provide an unmatched exchange experience through the development of several tools that will allow traders of any skill level access to algorithmic trading strategies, arbitrage, and decentralized finance (DeFi). Bitgear.io has four exciting products as part of its larger platform ecosystem, GEAR Engine, GEAR Market, GEAR Portal, and GEAR DeFi. To learn more please please follow us on Twitter, Discord, and Medium!
