Weekly Project Report of Chocoswap (From March 31 to April 6, 2021)

Dear members of Chocoswap:

By 6:00 p.m. on April 5, 2021, the main data of Chocoswap is listed as follows:

Total supply of VNLA: 7.42 million

TVL: $1.55 million

Number of Currency-holding addresses: 6,695

Total members of the Chinese community: about 7,000 people

Total members of the English community: about 4,000 people

Followers on Twitter: about 5,000

Major points of the project are listed as follows:

Technical Progress

1、The first version of Swap function by Chocoswap will be officially launched at 8:00 p.m. on April 6. Users will be able to directly exchange HT, USDT, ETH, HUSD and VNLA through the Chocoswap platform as well as other mainstream tokens, such as ETH and USDT. Chocoswap will give out the net income gained in the first month of Swap launch to all the eligible users of the “pledge and locked position of single currency” program.

2、The function of “transaction and mining”by Chocoswap will be officially launched at 8:00 p.m. on April 6. This is a completely decentralized transaction and mining as the transaction volume and reward are all managed by the smart contract. Users will gain 3‰ of reward in VNLA for exchanging currencies on the platform, such as exchanging USDT/VNLA, WHT/VNLA, ETH /VNLA, USDT/ETH and USDT/HUSD. (Example: if the transaction volume reaches $1,000, users will be rewarded with VNLA valued $3. If the VNLA price rises, then the rewarded quantity will decrease if it decreases, then the rewarded quantity will rise. The overall reward value remains unchanged.)

The reward of transaction and mining will be available weekly, and managed by the smart contract. The first reward will be opened on April 11 and since then, users can receive them on the transaction platform by clicking “receive the reward”.

Operation Progress

On April 6, Chocoswap will establish the board of directors, in which key holders of VNLA will be invited to join in program management and gain more benefits.

Community Building

Chocoswap is recruiting community volunteers. Community members with passion and confidence in this program, hoping to support long-term development of the program, are welcomed to join us to build Chocoswap together.

Overseas Development

VNLA officially launches its overseas Bounty Task program with a duration of 4 weeks. The program is enrolling overseas volunteers to be in charge of editing texts in English, and marketing in the overseas telegram group and twitter, which will influence over 30,000 members in the overseas community. Volunteers will be rewarded according to their performance four weeks later with the total amount of reward not exceeding 20,000 VNLA.

Chocoswap is at the initial stage of development so we still have a lot to improve. We wish our members can understand and support our work in this period, and give us your precious advice. It’s much appreciated!

Contact Us:

Official Website: chocoswap.org

Mining Website: chocoswap.finance

Email: contact@chocoswap.io

Github:https://github.com/chocoswap

Twitter: https://twitter.com/Choco_Swap

Telegram (English): https://t.me/chocoswap

Telegram (Chinese): https://t.me/chococn

Official Weibo Account: https://weibo.com/chocoswap

Reddit:https://www.reddit.com/r/Chocoswap/

Medium:https://medium.com/@chocoswap

Facebook:https://www.facebook.com/Chocoswap-108217491075427

Linkedin: https://www.linkedin.com/company/chocoswap

The First Cross-Chain Decentralized Exchange built on Ontology(Formerly called Ontoswap)