Each week, we host top names in DeFi on the CertiK Security Leaderboard Live AMA. The CertiK Security Leaderboard is your one-stop shop for everything security related in DeFi. Head over to CertiK.org and check out the ranking of dozens of projects, their security scores, Skynet statistics, and much more data.
This week we had the pleasure of speaking with Luke from MacaronSwap. Luke is the co-founder and CMO of MacaronSwap and has been an enthusiast for information technology for 15 years and has worked for enterprise companies and has done technical contributions/advisory roles for cryptocurrency projects for five years before he started with Macaron Chef who is the co-founder of MacaronSwap. MacaronSwap is a decentralized farm and staking platform and will be a cross-chain exchange in the end and will use an automatic automated market (AMM) maker model.
You’re in an extremely competitive market quite frankly, being a swap on bsc, it’s a very crowded space. What sets you apart from any other swap that we’ve had on here or spoken about?
Luke: As you mentioned, being a smart chain ecosystem is very competitive these days and we are not a fork and work project. We have enough skills and experience to build and develop new features. After forking some baselines, we have experienced two new features on the contracts that we are building. We are not only focused on being a smart chain, MacaronSwap will exist on multiple chains by this quarter. Firstly, we are waiting for Ethereum 2.0 to go live.
So speaking about that multi-chain nature, what other chains are you targeting? Obviously you just mentioned Ethereum, but is there anywhere else that you’re planning to go exactly?
Luke: We are planning a Polygon and Matic chain after Ethereum. We will be open to adding other chains if our community members ask, but right now we are focusing on these three chains first.
Why did you start with Binance Smart Chain?
Luke: To be honest, we wanted to start with the Ethereum Chain when we started to develop our project, but as you remember, there were too many congestion issues on Ethereum in February/March and too many gas fee issues occurred. Users didn’t like Ethereum Chain because they didn’t want to pay 20, 50, or 100 dollars for a single transaction or by purchasing actions. So we decided to implement firstly on BSC which allowed us to build contracts and for users to exchange cheaper. Although it was more competitive than other chains, it provided some good returns as well because after the Ethereum Chain, BSC was the most used chain.
Speaking about these features that you have on MacaronSwap, can you uh go through and explain some of these? I saw you have: Magic Box, Choco Falls, Boost Pools, Box Together, and IFO. Do you mind breaking those down for us?
Luke: Many features are known by users. I assume people know about farms and staking pools or other features which exist on Ethereum. We named our farm feature Magic Box where users can farm their LP tokens and earn Macaron tokens. Choco Falls is a staking pool where users can stake a single token and earn Macaron or some other tokens. We opened this pool due to requests from the community who wanted to earn $Cake by staking Macaron. Example of how it works is users can stake Macaron and earn Macaron, users can stake Macaron and earn Cake, or users can stake Cake and earn Macaron. We also have a lossless lottery system where users can earn without losing any investment by using staking pools where lucky users can earn others’ staking rewards.
Let’s talk about security since it is a major point of discussion around new swaps, especially BSC swaps, due to users falling victim to scams such as rugpulls. Why did you choose CertiK?
Luke: Well Macaron Chef and I have a lot of experience as mentioned previously. We have software development skills as well as experience with real life enterprises. While we have the experience, we also need multiple points of view and want other people to check the code to make it more secure and/or effective. We went with CertiK to help users feel safe and to have the best in the business, with a good reputation, to analyze the code for any irregularities or points of weakness. Our contracts did not have any major or critical issues, but it is always better to be safe rather than sorry.
Why did you choose to enable the skynet monitoring solution for macaron?
Luke: We enabled Skynet so that users can feel safer to be honest. With Skynet, they can follow our contracts in real time and see if any changes occur. If any changes occur, people are notified and any harmful activity shows on the dashboard. So overall, we chose Skynet to help further users trust.
As you continue to roll out new features, how do you plan to maintain security?
Luke: Once we develop new contracts, we will ask CertiK to analyze them as well. We will ask CertiK to do our auditing once a year as well to help maintain that level of security.
It’s pretty rare nowadays, especially in the Binance space, to release white papers. What drove you and your team to write and release a white paper?
Luke: We wanted users to know our roadmap and plans. By creating this, it keeps us to a strict schedule. We continue to develop things that aren’t on the roadmap so it is not our only goal, but gives a good idea and shows where we are at with our progress.
Yield farming has really proven to be something that’s going to stay in the DeFi space. Can you tell us how Macaronswap compares to other yield farms? In terms of APY or liquidity features.
Luke: Since day one we have tried to build a sustainable ecosystem, so instead of a very high APY, we tried to set a sustainable APY that allows us to not harm Macaron’s token price. This provides users a safer investment also. MacaronSwap is not a fork and work platform but we develop our contracts easily because we have a really experienced team.
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That wrapped up this week’s AMA with Luke from MacaronSwap. For more AMA sessions with top DeFi and crypto projects, keep an eye on our social channels and subscribe to our YouTube channel.
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This interview has been edited for clarity and concision.
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