MEXC AMA SaucerSwap (SAUCE) – Session with Joseph Bergvinson

In this Telegram AMA recap, you’ll find insights about the SaucerSwap project. In an event hosted by SenHo from MEXC, you will meet Joseph Bergvinson, Tokenomics Lead

Sen ho: Today, we’re honored to have Joseph Bergvinson, Tokenomics Lead in our community to give us a more intuitive introduction to their unique project.

Joseph Bergvinson: Hey guys, my name is Joseph and I’m the co-founder and tokenomics lead of SaucerSwap. It’s a pleasure to be here.


Sen ho: 1. What is SaucerSwap? Can you share with us more in detail? @Hashburglar

Joseph Bergvinson: Sure thing! SaucerSwap is the pioneering DEX on Hedera.

Non-custodial trading of native and cross-chain assets is facilitated in decentralized liquidity pools. Liquidity providers receive trading fees for every swap that is made in their token pair.

Furthermore, liquidity providers can stake their LP tokens in yield farms to receive token incentives (both HBAR and SAUCE).

Users will soon be able to stake SAUCE for a receipt token called SAUCEr without any lockup period. Stakers receive a percentage of all trading fees, SAUCE emissions, and HBAR native staking rewards.

While receiving these single-sided staking rewards, users can stake SAUCEr in Community Pools to receive the token emissions of liquidity partner projects, thereby compounding their rewards.

SaucerSwap will phase in a DAO, with SAUCE serving as the governance token. The Hedera Consensus Service – designed as an enterprise-grade solution – enables new permutations of on-chain voting mechanics, extending the range of potential use-cases.

In addition to single-sided staking and DAO-based governance, SaucerSwap will integrate a bridge on its frontend, and eventually introduce the concept of concentrated liquidity to increase the capital efficiency of liquidity provisioning.

Lastly, all Saucer contracts have been audited by Hacken, scoring 10/10 on security and 9.7/10 overall. SaucerSwap is also an HBAR Foundation grant recipient, and is currently emitting 20 million HBAR to liquidity miners over a 6-month period.

Sen Ho: 2. What triggers you to launch SaucerSwap? What are some of the real-world problems/ pain points that SaucerSwap aims to solve?

Joseph Bergvinson:Great question

Firstly, we wanted to address the issue of frontrunning

On Ethereum dexes, backdoor arbitrageurs bribe miners into sacrificing the fair ordering of transactions. This results in users being front run on their trades.

Given that SaucerSwap is built on the Hedera L1, the concept of MEV doesn’t exist. It is therefore impossible for an attacker to jump ahead of a trade to profit from this type of exploitative backdoor arbitrage.

Secondly, we wanted to address the issue of cost-prohibitive trading on dexes.

The price of ether correlates with demand for blockspace. This makes the use of popular dexes like Uniswap and Curve very expensive to the average user in a bull market.

SaucerSwap takes full advantage of Hedera’s EVM-compatible Smart Contract Service, which controls tokens through HTS precompiles instead of smart contract calls.

HTS has low, predictable fees fixed in USD, making SaucerSwap accessible to all, no matter the market conditions.

For example, SaucerSwap is 50 times cheaper than Uniswap v3.

Third, Ethereum DAOs require smart contracts for on-chain voting, resulting in narrow and cumbersome governance that is both costly and slow.

SaucerSwap takes advantage of the Hedera Consensus Service – an enterprise-grade solution – to implement robust on-chain, token-weighted voting.

This allows for a seamless integration of decentralized governance for the user, and enables development to encompass a wider range of governance use-cases.

Fourth, we wanted to address common flaws in tokenomics.

Most dexes suffer from inefficient token design. Token utility is generally limited to governance, which does not always return meaningful value to investors.

SAUCE has a fair distribution (no private sales!), multiple utility functions, and returns value to liquidity providers via novel staking mechanisms which will be incrementally rolled out.

Finally, many DEX web apps are uninspired clones of Uniswap. Usability is often compromised when additional features are added.

SaucerSwap has a balanced UI/UX; its web app comes packed with an elegant feature-set while remaining easy to learn & use for both new and veteran DeFi users.

Sen ho: 3. What is the role of the $SAUCE token in SaucerSwap? Would you tell us more about its tokenomics?

Joseph Bergvinson: SAUCE is a utility token essential to the protocol. It serves three main functions: liquidity, staking, and governance

200 million SAUCE tokens were minted at genesis, while the remaining 800 million will be brought into circulation at a constant rate over a 3-year period. The max supply is therefore 1b.

Of the 20% minted, 14% was airdropped to the community via an Initial NFT Offering (INO).

Note that there have been no private sales of SAUCE, so no predatory venture capital to worry about.

Of the SAUCE yet to enter circulation, 62.5% is distributed to farmers as liquidity mining incentives, serving to offset impermanent loss and bootstrap liquidity on the protocol.

Other allocation categories include DAO treasury, team, advisor, marketing, and liquidity. If you want to see a more thorough breakdown, feel free to read our docs!

One last thing to note – SAUCE has the potential to be a deflationary token if the rate of token buybacks (a function of single-sided staking) exceeds the rate at which SAUCE is brought into circulation as per the release schedule.

Sen Ho:4. Are there any exciting news or updates with regards to SaucerSwap that you would like to share with the users?

Joseph Bergvinson: Many new features are coming to SaucerSwap in Q4! This includes single-sided staking for SAUCE, MetaMask accessibility, frontend bridge integration, and more.

Our 2023 roadmap has not been fully made public yet, but we intend to roll out some features that are only really possible on Hedera.

We also intend to grow our community by offering easily digestible educational content on DeFi concepts.

Sen Ho: 5. If you were to summarize your project in ONE word, what would it be? Why?

Joseph Bergvinson:Community.

When it comes to technical capability, SaucerSwap has no match. But even still, what actually defines a protocol is its users.

The SaucerSwap community is creative and alive, constantly creating more real value in Hedera’s growing ecosystem.

and these users will in fact become the protocol owners, via the DAO, along with anyone else who holds SAUCE.

Free-asking Session

Q1. Staking and Farming with Decent APR is one of the strategies to attract users and hold users. Does your great platform Provide decent APR for users to stay with you ?

Joseph Bergvinson :Yes, our farms have very high yield thanks to our tokenomics and HBAR Foundation grant. Our stablecoin pairs (e.g., USDC-DAI) yield 25%, while HBAR-SAUCE yields 74%. You can view the available farms here:

Q2.: Many scam projects in the market. I would like to invest in your project but I habe doubt. Can you assure us that you are not like others and there is no chance of scam?

Joseph Bergvinson: This is a fair question – it’s always good to remain skeptical of projects in this industry. Unlike most DeFi projects, the SaucerSwap team has revealed our identities. Furthermore, all of our contracts have been audited by a trusted third-party (Hacken). We value transparency and open communication with our community. For example, we hold bi-weekly AMAs in our Discord server. Lastly, we have The HBAR Foundation’s support.

Q3. What’s the milestones you have achieved and about your upcoming plans? How do you plan to increase the demand for tokens in the crypto space?

Joseph Bergvinson: SaucerSwap is the first Hedera-native smart contract application to both fully integrate with the Hedera Token Service, and to bring a viable DEX to market. To date, the project has received funding from the HBAR Foundation, become a price oracle for HashPack – Hedera’s leading wallet, founded the Hashgraph DeFi Alliance, and partnered with key ecosystem players including Stader, HeadStarter, and Dovu. In terms of protocol metrics 1.5 months post-launch, TVL has surpassed $16 million (2000% growth), volume is $35m, over 200k trades have been made, and over 100 liquidity pools have been created. SaucerSwap’s main objectives are bootstrapping liquidity, growing volume, and returning value to liquidity providers. This will be achieved by refining existing features, forming strategic partnerships, marketing to cross-chain users, and innovating with our token design and suite of DeFi offerings.

Q4: Do you have Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we Join it?

Joseph Bergvinson: Certainly!

Here are our docs:

If you are looking for a better understanding of our smart contracts, we also published a technical whitepaper:

We have already completed a community-led INO. Here, users purchased utility NFTs and were later airdropped the SAUCE token. You can now trade and provide liquidity on our DEX:

Q5. Partners are very important for every project today, may I know which partners you have now? and which partners in the future you will be heading to?

Joseph Bergvinson: We have already formed strong partnerships in the Hedera ecosystem. In fact, we founded a DeFi Alliance alongside Stader Labs (liquid staking protocol) and HeadStarter (IDO launchpad). Both of these platforms serve as accessible onboarding ramps for users and projects alike, while SaucerSwap serves as a logical endpoint for liquidity. Users can compound their returns by providing liquidity in the form of HBARX (Stader’s liquid token), while projects who choose to IDO on HeadStarter can thereafter create a liquid market for their token by means of Community Pools and subsequent yield farms. Hence each founding member is intertwined, having made important contributions in building the foundation upon which Hedera DeFi will flourish. Beyond the Alliance, we are collaborating with Calaxy, Dovu,, HashPack, and of course, The HBAR Foundation.

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