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Common sites with HIGHEST payout and STABLE income << 04/10/2020 >>

Common sites with HIGHEST payout and STABLE income << 04/10/2020 >>
This is a long post, but please try to read it all and select the most suitable one for you. When you see any sites with good payout and good potential, feel free to create a post. Also when you know site that is scam, please create a post to alert everyone as soon as possible.

There're 4 main and common types of task you will encounter when using beermoney sites. You can use all the sites or just pick the most suitable type and site to work with. Using more than one site is recommended, as the number of tasks on one site is not high enough, and the tasks will not appear continuously.

I. MICRO-TASK (or Crowdsourcing task)

The task varies from article assessment, information collection, search-query classification/answer relevance, taking or collecting photo/video, to object identification,... The number of tasks will increase when you complete more tasks.
Pros:
- The number of tasks is higher and more stable than other types of beermoney task.
- The payout is appropriate to your time and effort. You can even make stable income with them.
Cons:
- Sometimes you will need to pass the training test to access the task.
- Your work may not be accepted if it does not meet the guideline.
- It can be a little hard in the beginning, there're also not many tasks for you, but BE PATIENT, because they haven't been able to fully assess your ability yet.
1-Toloka Yandex:
This is one of my favorite micro-task sites, and is the first on the list when I make beermoney site suggestion.
The tasks are mainly in English and Russian. They also have tasks in your mother language too, depend on your setting and location. Don't worry about the language, as you can easily have it to be translated with translate extension (like Google Translate) or with any translation site. The task is easy enough to understand.
The minimum withdrawal is $0.02 if you request to withdrawal once a week, and it will be $1 if more than once a week. You can withdraw the money to PayPal, Payoneer, Skrill or Papara. But to be able to withdraw with PayPal, you will need a verified PayPal account.
Earnings with Toloka
Here are registration links: ref-link and no-ref
2-Clickworker:
One of the most popular micro-task sites, you can find many recommendations and good reputation about them. But to make the most if it, you will need to unlock UHRS, as describe here.
You definitely shouldn't miss Clickworker and UHRS. Their payout rate is higher than Toloka, however it usually takes a month for your earning to become payable. Depend on your location and language, you can earn a great amount of money here, the highest I've earned in 1 day is $35. Be careful that you'll be considered spam if you complete the task too fast
You can receive payment to PayPal account with the minimum of €5. You can choose other payment methods too, like SEPA transfers and Transferwise.
(I'll update payment proof when receiving one - still need some days for the earning to become payable T_T)
No need to say anymore, here are the links: ref-link and no-ref
3-Remotasks
You will need to take part in training (which is quite hard and time-consuming) and pass the test to be able to access the tasks here. The tasks are categorization, text highlighting, image annotation, semantic segmentation,... and well-known Lidar Annotation and Segmentation.
Here are registration links: ref-link and no-ref

NOTE FOR MICRO-TASK:
  1. It's highly recommended to use all those sites, and maybe other sites if you want, because the tasks are not shown continuously.
  2. Make sure to fully understand the guideline, as you will not be credited if you work fails to meet the requirement, which will waste your time and effort.
  3. If you find any task that has low credit but requires a lot of time and effort, don't do it. If requester can still find worker with such low pay, they will continue to do so. It's not worth your time, just going to other tasks or going to other sites to see if there're any available tasks for you.

II. OFFER WALL TASK

Another way to earn beermoney online is to complete Offer wall tasks. You will be asked to install app on your smartphone, sign up, play game and reach determined level, or watching video,.... Doing survey can also be listed here, but it will be shown in separate section.
There're many offer walls for you to choose, with different payout level. Usually each beermoney site will list many offer walls, one offer can appear in more than one site/wall, so make sure to surf around and compare the credit to find the best and highest payout wall/site for that offer.
Pros:
- Easy to do
- Can complete offer many times if you have different kinds of phone (mostly Android and iOS), or using another phone as the tasks are listed on many offer walls.
- Can earn money while playing and relaxing, as mostly the offered apps are games. Some apps only requires you to install and open, make it really quick to have some beermoney.
Cons:
- The payout is not very high. Especially when that offer is going through many walls and sites to reach you.
- Some offers take much time to complete.
- The number of offers is not high enough to do daily.
1-RewardXP
RewardXP has surpassed GG2U to become the highest payout site. They have leveling system, the higher level you reach, the more offer walls you can access and the more benefit you can get.
With the minimum of $5, they provide a variety of withdrawal methods for you to choose, like PayPal, Amazon, Steam,...
Withdraw with $5 minimum from RewardXP
You definitely should try this site. Here are your registration links: ref-link and no-ref. Registration with referral link, you will be given a 5000XP (~$0.5) bonus.
2-GG2U:
This is also my favorite site. Their paying rate is one of the highest in the market (if you find any other site which is higher, feel free to make a suggestion :D THE HIGHEST ONE NOW is RewardXP, see above). Aside from installing and registering app, they also have many survey walls for you.
The most attractive part is that they will give you $1 bonus right after signing up, and after 5 withdrawal requests, you will have a chance to earn up to $7 bonus. With the bonus program, it's hard to say which is better, RewardXP or GG2U.
You can withdraw money to your PayPal account or Coinbase (crypto wallet), with the minimum of $7.
Earning with GG2U
Here are your links: ref-link and no-ref
3-Cointiply
One of the most popular sites, with great community.
They will pay you with cryptocurrency like Bitcoin or Doge. You will have many chances to earn coins, by doing offer walls task, rolling the faucet every 1 hour, testing your luck with multiplier or by activating in their packed chat room.
You can also earn some coins by clicking Paid-to-click ads. Most of the time, those ads are from Cointiply user with their referral link embedded, so if you register sites when viewing those ads, they will earn some commission. You can try this strategy too :D
With their mobile app, it will be much easier to do mobile offers. Make sure to check your email and mobile app to get the user-limited Promotion Codes regularly.
Registration links: ref-link and no-ref
4-Swagbucks
Sometimes you can earn money by spending less. Swagbucks offers a big number of sites where you can receive cash back when you shop online. If you shop online a lot, it's worth to take a look
Here are registration link for shopping: ref-link-shopping and no-ref-shopping
Beside the cash back program, Swagbucks also provides offer wall, however the paying rate is not as high as site 1 and 2 above. Anyway, if you want to try, here are your registration links: ref-link and no-ref
5-EarnCrypto
If you're into doing offer walls task and earning crypto currency, try this site too.
Their paying rate is quite lower than above sites, but they have Data entry task, which is daily. By ranking high on their daily leader board, you will be rewarded with a great amount of coins (can even be higher than your earning from doing the data entry task itself :D).
There are many kinds of crypto currency for you to select.
Just take a look if you have much free time and have nothing else to do: ref-link and no-ref

NOTE FOR OFFER WALL TASK:
  1. Every offerwall has a place to track your activity history, like what offer you clicked, what offer you completed and did you receive credit or not. Every time you're about to do an offer, after entering that offer (usually when you click an offer, a small panel about what offer is appears, there will be a button name 'continue' or 'go to offer', after you click that button, you're entering the offer), make sure that offer appears in your history tab of that offer wall. This will enable you to request support in case you complete the offer and have not received credit yet. If it does not appear in the history list, you will not be credited for that offer, so try to click it again.
  2. To find the history tab, after entering offer wall, you will need to find a button named 'My coin', 'My history', 'Support', or button with question mark,... That button should be easy to be found.
  3. Try to surf around to find the offer wall and site having the highest paying rate for the offer, as the same offer will appear in many offer walls and sites.
  4. When you're about to start to do an offer of installing app (especially game), try to read the comment in appstore/playstore to see whether the offer's requirements can be easily to fulfill or not. For example, the requirements are: 1. install game, 2. open it, 3. reach level 30; and you find some comment about cannot reach level 25, or it takes months to reach level 29, then skip that offer, it's not worth the try.

III. PAY TO SEARCH

You can earn nearly passive income from this type of task. They will give you some query, you will search with that query, entering determined site, leaving that site opened for couple of minutes.
Pros:
- It's super easy to do.
- While leaving the site open, you can do any other thing you want, like doing some micro-tasks.
- The paying rate is quite good, especially when you don't need to do much.
Cons:
- The number of queries is not very high.
1-SerpClix
In order to receive more queries to search, make sure to leave the site open and allow the notification.
Even though SerpClix recommends you to interact with the website, it's not necessary because SerpClix will automatically navigate to sub page of that page. Another suggestion here is to install adblock extension, because SerpClix will ban you if you click on any ads on the page, so blocking them beforehand is a good move.
Earning from SerpClix
Here are your registration links: ref-link and no-ref

IV. SURVEY

Probably all offer walls have some kind of surveys there, some surveys are only available through offer walls, some have their own sites. By using their own sites will not guarantee that you will have higher payout though.
Make sure to be honest when doing surveys, despite the fact that you will sometime be disqualified from the survey. There are many reasons why you are disqualified, like because your job is not suitable, your demography is not their target, your answer is not persistent,...
BE CAREFUL, they will keep track of you, even if you clear your cookie, so being dishonest can lead you to be banned from their sites. Again, BE HONEST, and there will be suitable surveys for you.
There will be two types of survey for you: the first one is filling form and selecting answer from their suggestion, the second one is to talk with them directly or via Video call apps. The second one has much much higher earning but the requirement is also higher too.
Pros:
- Easy to do, just being honest
- High payout, especially with the second type of surveys.
- Some survey only need 5 minutes to complete with a high reward.
Cons:
- Some survey can take about 30 minutes to complete, so make sure that you have enough free time.
- You will be disqualified if your information is not suitable to their survey's target.
1-SurveyTime
One of the best sites out there, my favorite one. They will instantly send you $1 or $0.5 (depend on the survey) to your PayPal or Coinbase account when you complete the survey, so no minimum required to withdrawal. The survey you will do here is the first type, filling in the form and selecting answer.
Instant payment from SurveyTime
You can register with SurveyTime through some offer walls, as they will give you some more coins when you complete the survey, but make sure to check their conditions.
Make sure to turn on Browser notification and Email notification so that you don't miss any survey.
Registration links: no-ref
2-Respondent
You will need a microphone and/or webcam (built-in or external) as the survey in Respondent is conducted via video calls, phone calls, in-person discussions. Of course, you will receive a huge reward for doing surveys here, from $5 up-to $1000. This's a great deal, one successful survey can get you more credit than doing hundreds of micro-tasks. Don't miss this site.
They will recommend suitable survey for you, but if you want to view all available survey, make sure to uncheck the 'Recommended' option in Filter panel.
Here're your registration links: ref-link and no-ref

NOTE FOR SURVEY:
  1. Sometimes, they will provide the must-select answer in the question to test if your attention. Make sure to read the question carefully. For example, the question is "Do you agree that 1 + 1 = 2? Select option [I do not agree] in the answer", if you select [I agree], you fail.
  2. BE CAREFUL - BE HONEST
  3. When you're doing the first type survey (filling form, selecting answer), be careful not to install any app, or download anything, or upload your social data file when asked. In that case, just contact survey site support and report it.
  4. It's better to use different survey sites to maximum the number of surveys you receive.

Last word, BE PATIENT - earning online can be a little hard in the beginning.

Feel free to share your experience when using beermoney sites (and your referral link too :D) or ask question about any beermoney sites by creating new post. Also, creating new post when you know that any site is a scam or becomes scam.

P.S 1: In case you need a Crypto wallet, you can use Coinbase, registration links: ref-link and no-ref, or Binance ref-link and no-ref. You can read here for the comparison between Coibase and Binance
P.S 2: You can add some email addresses to PayPal account, so you can use many email address to register to beermoney sites if you want
P.S 3: If you're confident with your English, and have a computer, microphone and webcam, you can try Usertesting site, you will visit a website that requires you to test, talk about your experience of using that site
Here is the link: no-ref
submitted by trihai3012 to beermoneyASEAN [link] [comments]

Introducing Bondly…

Introducing Bondly…
For us who use Decentralized Finance (DeFi) as a common term, we know it represents an enormous shift in how we transact with one another: borrowing money, exchanging currencies, how we view insurance, etc. While total assets involved in DeFi still seem to be increasing right now, there are various factors that will prevent us from growing further.
DeFi’s largest barriers for adoption
Interoperability — Right now Ethereum gas fees seem like they are always increasing and ETH 2.0 may still be 6 months or more away. We need the ability to make DeFi more accessible to individuals who can’t afford high gas prices per transaction and start including native blockchain assets that are stranded on other platforms.
Trust — Unfortunately our biggest issue is still trust. While none of us in crypto expect to know the identity of the other party, many of us just send funds to people we don’t know for vague promises of more wealth. In fact, the biggest type of fraud is still the “giveaway scam” which asks offer to send something back — but its only an offer, there is no guarantee. This is totally unsustainable.
What about doing business outside of crypto?
Ultimately, DeFi doesn’t keep going unless we create methods for non-crypto native businesses to integrate. While the community might approve sending crypto to each other without a safety in place, this will never work for 99% of online marketplaces.
So we need:
  • DeFi options on lower cost platforms
  • Trading across blockchains
  • Safer Transactions
  • More flexibility for peer to peer transactions
  • Easier methods for online marketplaces to integrate and use crypto
This is why we created Bondly.

https://preview.redd.it/5gs8v5ce1hu51.png?width=1400&format=png&auto=webp&s=fade2f7576626022460b7882f379552d44b678c7
Bondly is a brainchild of over 3 years of working in fintech digital escrow payments + love for native DeFi. Adding our cumulative 13 years of traditional financial services, 6 years of eCommerce marketing, 4 years of Ethereum blockchain development, we think this will be one of the most important next steps in DeFi.

What is Bondly?

Bondly is a trusted, transparent and portable swap protocol designed to make you into a marketplace.
Our family of trust-enabling, DeFi products are designed to be a part of your everyday buying and selling activities, giving you piece of mind for your next swap or online purchase.

BONDSWAP (BSWAP)

Similar to Binance OTC Trading Portal but directly on-chain and can be sent via any chat app using different blockchains
Wallet to Wallet trustless Over the Counter (OTC) trades that are performed by signing a smart contract. Completely portable smart link can be sent via a chat app or on your favorite social media. It will first support all ERC-20 tokens and NFT (Ethereum) then eventually
With BSWAP you can:
  • Sell a large order of a low liquidity token with no risk of slippage
  • Become your own NFT marketplace by minting the token, setting your own price, then post to your social media for your audience to buy
  • Buy assets using Debit/Credit card (using our third party partner onramp)
  • Send smart link in Telegram to someone you know or your favorite group

BOND DEX

Similar to Mooniswap but includes rewards token provided to Liquidity Providers on top of fee share
Interoperable Decentralized Exchange (DEX) thats easy to use and blockchain agnostic. Requires liquidity provider (LP) participants to pool assets for a portion of transaction fees along with rewards APY rewards. Our pricing engine will compare major cross chain swap options and will let you know the best one to use (even if its not us). Validation is done directly within your Web3 browser (with Metamask) or polkadot.js based Native Wallet.
With BOND DEX you can:
  • Trade native assets on Polkadot with USDC on Ethereum
  • Get recommendations on the cheapest bridge transaction path
  • Create your own asset pairs that otherwise might not exist

BOND PROTECT (BPROTECT)

Similar to Paypal/AliPay Express Buyer Protection combined with Escrow.com with a simple UX like Zapper.fi or Zircon
This is our most revolutionary product that we feel will have the largest impact to the eCommerce market.
PROTECT is decentralized escrow and buyer protection for customers of crypto friendly marketplaces.
  • Designed to replace all site specific crypto escrow products with an easy to use API and completely smart contract driven product. Marketplaces may still be in a ‘validator’ role for the marketplace transaction but now they don’t have direct access to funds. This mitigates misappropriation by the marketplace along with exit scamming
  • By participating in the Bondly network, marketplace vendors can represent themselves as BPROTECT ready and show their on-chain transaction history and successful Bondly enabled deals
  • BPROTECT will have a similar UX to Zapper.Fi that will pull this vendors on chain activity and history into one place across ethereum and our native substrate chain so you can see their status and history
  • Functions as a ‘Buyer Protection’ similar to most major marketplaces, where customers are protected by collateral within Bondly
  • First customers will be marketplaces that sell digital goods like Domain Names and In-Game items and that support crypto payments already. Existing domain name credentials and ownership will be wrapped in an NFT and swapped for requested crypto directly
  • Requires that the marketplace itself stakes Bondly collateral as well as each individual marketplace vendor
  • COMPLETELY UNDERCUTS the whole ‘fake review’ industry which is prominently used to inflate value on sites like Amazon.com
With BPROTECT you can
  • Give more trust to your buyers that you will provide the purchased asset in a timely fashion
  • As a buyer you can request sellers to use this method so you have more trust
  • Sell an asset via OTC that you do not have yet (e.g. waiting for vesting) by staking collateral in the Bondly network
  • Set up recurring payments from individuals to vendors that can deduct from your account every month, similar to a Netflix subscription completely crypto enabled

How does BOND PROTECT work?

For individual OTC Trades:
  • Seller stakes collateral and ensures the buyer will receive asset by a specified date or with a specific condition
  • If agreement is violated, collateral is forfeited and transferred to the buyer
For Marketplace Vendors:
  • Vendors stake collateral (earning staking rewards for doing so)
  • Should a vendor violate a sale condition (e.g. not deliver a good on time), BOND collateral is provided to buyers as compensation
  • Each sale is recorded on-chain for transparency
  • Vendors who provide extended positive service with a long term history are rewarded through our staking/LP rewards program

https://preview.redd.it/3t8a39rh1hu51.png?width=737&format=png&auto=webp&s=6c9e1f41cc862859bbee1e263f740bbe6a106057

Bonding with Polkadot

As our ‘sibling’ projects Darwinia and Bifrost have realized, Polkadot and using Substrate represents a phenomenal step forward in interoperability.
It offers:
  • Total flexibility for building a cross asset non-custodial token bridge
  • Seamless integration of our partners/peer bridges between infrastructure
  • Built in network security
  • Efficient token standard indexing for every type of asset in every type of blockchain
We don’t have Digital Money without Bitcoin; We don’t have Smart Contracts and DeFi without Ethereum; We don’t have true interoperability without Polkadot and Substrate.
In a future article we will talk more about our Kusama testnet release.

Whats next for BONDLY?

BONDSWAP for Ethereum, the first formal product release, will be available soon (so hold off on your OTC transaction until then). This will include support for the Bondly staking program. Detailed roadmaps for the other products will be announced soon!
In the meantime we will be making additional articles (but not limited to) the following topics:
  • Our first BPROTECT marketplace customers
  • The BONDLY Liquidity Marketplace
  • Partnership Announcements
  • Team Details
Please join our community and sign up for the alpha! We are so excited to share more with you soon!
Web: https://www.bondly.finance/
Twitter: https://twitter.com/BondlyFinance
Telegram: t.me/bondlyfinance
submitted by BondlyFinance to u/BondlyFinance [link] [comments]

TomoChain December 2019 Recap!

TomoChain December 2019 Recap!
2020 has finally step one leg inside our houses!! Woww! What a year 2019 has been. They say one door closes for the new one to open up. Thus, TomoChain welcomes 2020 still carrying the positivity and dreams from the old year. The difference is, our hopes and dreams this year shines even brighter with a goal to work even harder than the time has passed.
We would like to send out our Happy New Year wishes to all TOMO lovers who have always been there and supported us since day 1! Looking forward to a fresh start!

https://preview.redd.it/ea501j3h8j841.png?width=5001&format=png&auto=webp&s=3959a0187065f730578f28009e77b6d0008d3cbb
  1. Techblog
  • TomoX’s order book/liquidity pool is decentralized, thus does not have a single point of failure. TomoChain-based token order books will always be the same giant tradable order book. It's great to see TomoChain's community willing to create content to educate others about our system. '

  • Privacy is crucial in ensuring internet freedom. When your transactions are being watched, you lose your decision making ability, allowing hackers to take advantage of your account.
-> Introducing TomoChain's solution to secure your freedom - TomoP http://bit.ly/2tiY7qq
  • TomoP Fun Fact : TomoP can also be read as "To-Mop", meaning to clean or soak up (something) by wiping. In TomoChain's world, TomoP helps with mopping away your traces & making sure transactions stay anonymous, therefore protects your privacy.

  1. Partnerships & Listings



  • TomoChain is Ankr's 1st app that lets users earn rewards by hosting a Masternode & staking TOMO.

  • TOMO has been added to the Incognito Chain pDEX - the first-ever completely private trading experience! Now LIVE in the Incognito trading wallet: pTOMO <> pUSDT; pTOMO <> PRV
The announcement: https://incognito.org/blog/tomo-listing-on-the-incognito-pdex/…
The tutorial: https://incognito.org/blog/how-to-trade-bitcoin-privately-with-incognito-pdex/…

  • TomoChain is excited to join forces with Wadz to enable online and point of sale payment solutions across SEA. Wadz is migrating to TomoChain from Ethereum & its token will be issued using the TomoZ (Zero Friction protocol) to provide its users.



More access platforms, more exposure!



  • Party like there is no TOMOrrow! TomoChain is now officially listed on Changelly!
Swap $TOMO at the best rate on the market with zero network fees - https://changelly.com/exchange/btc/tomo…

  1. Events
  • TomoChain joined TechFest2019 among many outstanding Technology startups, with CEO Long Vuong sharing TOMO's development process in the blockchain world.
Investors were impressed with our decentralized ecosystem & applications.

  • One of the key factors that drives forth the success of TomoChain is the huge and continuous support from the community.
It's time to spread the word about $TOMO & value your holdings by raising awareness and sharing your confidence in us! Join Tomo in becoming one of our Knights!



  • MaxBet PigFarm just launched a very exciting mini game for MaxBet - ALL or NOTHING challenge from 12 - 17/12/2019! Win extra $TOMO regardless of being lucky or unlucky!



  • TomoChain just celebrated our very 1st Birthday! We would love to send our warmest gratitude to those who have been there for us since day 1. The seed we planted a year ago has, and will sure be growing bigger and taller into a beautiful tree.

  • Introducing a never-seen-before game on #TomoChain's platform: Number Hunt - Battle of the Numbers! You will compete head-to-head with another opponent. Whoever has the faster hands and eyes to cross out all numbers will be the champion!

  • Dec.18, 2019 marks one year of all ERC20 TOMO was permanently frozen. A new chapter was opened with our very own native TOMO of the efficient public blockchain powered by Proof of Stake Voting consensus.

  • TomoX Bug Bounty: We'd like to call on the community to help identify issues in TomoX’s products to improve the overall safety & experience for all users.
Mission : Report bugs/ Propose new updates/features to better TomoX

Recap Video: https://twitter.com/TomoChainANN/status/1212584273200304128

  1. Must Read/Watch

  • Introducing TomoChain’s “Spill the T” - a chit-chat series with $TOMO team. Topics vary each eps, based on the best-selected questions from the community.
Tune in, grab yourself a cup of tea & watch us spill ours.
Listen to the 1st eps by TomoChain's CBDO Kyn Chaturvedi !
  • Only 2 more weeks to end 2019. It's time for reflections & future to-do list.
Check out TomoChain in our major end-of-year throwback, with CEO Long Vuong wrapping up $TOMO's achievements & drawing 2020 roadmap.

  • We greatly appreciate our community’s willingness to help deliver & educate others about TomoChain's technology. We constantly look for TOMO's evangelists to honor for being a part of our voice. Check out some of the community's contribution
https://twitter.com/pxlicious/status/1204041812333203457
https://twitter.com/oddgems/status/1204802272305115137
https://twitter.com/KryptoKarlsson/status/1205037448687968256

  • Spill the T 3: CBDO Kyn Chaturvedi shared his view of content censorship on centralized social platforms, blockchain tech opportunities being opened and the possibility of content creators shifting over decentralized social platforms.
Watch full video: https://youtube.com/watch?v=PAqQFVeka5s…
  • An intense AMA at Crypto.com telegram channel has just been done today where CEO Long Vuong received over 100 questions in under 1 minute during the live session.

  • Asia looks at blockchain as a business, & where economic value can be derived from in the short/mid/long term... Instead the focus here is on market fit, Asian innovation is driven by fast, iterative cycles measured through customer acquisition - Kyn Chaturvedi

submitted by alexngn201 to Tomochain [link] [comments]

Recap of AMA with Zac on July 3 and Q2 report

Dear Pundians,
Thank you for participating in the AMA session with Pundi X co-founder and CEO Zac Cheah.
For those of you who may have missed it, the live recording of the AMA session held on July 3 at 10:00 am GMT+8, tackling Q2 progress and addressing questions and concerns by the community members, can be viewed here. A side note that today’s AMA video quality and setting was not ideal. We acknowledge this situation and will make improvement for our next AMA session.
You may also find a summary of the Q2 progress presentation as well as all the detail Q&A below.
## Pundi X Q2 2019 Highlights
* Pundi X has integrated more public chains into our products. In Q2, we completed integration of Binance Chain. NEM chain is in the work. As of today we’ve launched BNB, the Binance Chain native Coin and XEM, NEM native coin on Pundi X payment platform. We will integrate at least one more public chain in Q3.
* The transactions on XPOS for Q2 is 15.5 million in USD, which is close to 300% quarterly growth. The number of transactions is 29,367, which leads to a 11% growth QoQ.
* XPOS has successfully received FCC and KC certifications. A new certification for Latin American market is on the way. * To expand XPOS footprint, Pundi X’s integration with a new leading mainstream point-of-sales device is in the work. Stay tuned for the announcement.
* Pundi X Open Platform was launched in May, 2019, which now supports ERC20 and BEP2 token listing. Moving forward, we will continue to support tokens from other public chains.
* A 3,000 XPASS order from DigiX, a gold-based token, and a 10,000 XPASS order from BitCobie this quarter.
* XPOS is spread in use in over 30 countries. We’ve published a map of XPOS location of self-report XPOS merchant directory. You can find a list of selected XPOS merchants at [https://www.pundix.com/products\](https://www.pundix.com/products). * The QoQ growth of XWallet is tremendous at 43%. In the previous quarter, we have less than 20k users, whereas in Q2 we have hit 297k XWallet users.
More updates on XWallet:
* Supported BNB and NEM tokens; 2FA, face ID, and optimized SMS serviceAvailable on iOS, Android as well as in Samsung Galaxy Store
New features coming up in Q3:- DApp integration - Decentralized wallet- In-app crypto payments - Chat service, which will be compatible with a commonly used chat app- f(x) testnet features to be rolled out first in XWallet
## Other notices coming up in Q3 2019
* The Q2 token removal will take place on July 14, 2019, which will involve in total 34 billion of NPXS and NPXSXEM (22 million worth in USD) removal. In the past 365 days, we’ve removed a total of 36.1 million US dollar worth of NPXS and NPXSXEM.
Before Q2 removal, the total supply of NPXS ERC20 is 266,962,422,906.53 and NPXSXEM is 95,816,218,929. [See Q1 removal here.](/pundix/recap-of-ama-with-zac-on-july-3-and-q2-report-a23de165dd28)
* [NPXSXEM will be ported to Binance Chain from July 20](/pundix/npxsxem-will-be-on-binance-chain-c6485f17726b). * XPhone pre-order will start in late July with a new product name. Stay tuned. Check out the teaser video that we are releasing it across our communication channels. ## Q&A
## On XPOS
* **Where are we on official global location of XPOS?**
Zac: We have made a map on our official website that merchants can self report and feature their locations. It’s at [https://www.pundix.com/product\](https://www.pundix.com/product). We’ll be increasing and updating the map once we have permission form the merchants to update their locations.
* **The marketing from pundi has shifted from 100,000–700,000 xpos units by 2021 to 100,000. I understand the bear market has affected this but please share the strategy moving forward to hit your goal. How do you feel about hitting this goal?**
Zac: The 100K XPOS target has always been the initial goal and it’s stated in our whitepaper. And we are still working on achieving the goal by the end of 2021. Part of our growth strategy is to also explore the possibility to port our platform to traditional POS manufacturers to increase the adoption, which is ongoing at the moment.
* **1 year ago you sent 5000 XPOS somewhere. When, at least half of them, will be working? 3 year target was 100,000 by 2021. Now we have only 150 units, how do you expect to reach this goal?**
Zac: Yes, we have shipped thousands of XPOS to over 30 countries in the world. The 150 you’ve mentioned are the featured merchants which are published on the map. The active XPOS devices are deployed over 33 countries and we are actively talking to B2B partners to have higher wholesale and big deployments.
* **How many XPOS are live and used?**
Zac: We have gone through a very serious bear market, and some of the initial inbound requests for XPOS are not delivered. However, we are working slowly but surely with our Business Development team to not just roll-out into individual buyers, such as what we did on Pizza Day, but also to B2B partners. With the certifications approved, that will also help us to officially roll out to some of the key markets.
Individual merchants can use XWallet collection feature to accept crypto payment with QR code. For the merchants who have physical offline storefronts, they can use XPOS to enable the instant crypto transaction seamlessly. Moreover, as mentioned previously, we are exploring the integration on leading traditional POS terminal so that their distributors have option to enable crypto transaction feature. As for the challenge to adopt XPOS, it is the regulatory compliance in different countries. For this, our legal team think ahead and encourage our merchants to complete KYC.
I must be very honest to say the activation takes longer time than we expect but it will be worth at the end.
* **What’s the average number of transactions per xpos in use?**
Zac: The transaction number has increased very well. The number of each XPOS differs, due to the frequency of using crypto currency to purchase item or crypto assets. There’s no standard answer to this, but overall we see the transaction number and volume are going up.
* **How do you plan to reach the target of 100,000 by 2021?**
Zac: One of the challenges that we have is regulatory compliances in different countries. There are certain markets that do not allow crypto currencies and some require a clear approval for us to deploy XPOS. We are working on both challenges by talking to governments and applying for certifications. So how we plan to reach 100,000 XPOS user by 2021 is to work with distributors, B2B partners on a government / business level, and with existing POS companies to integrate our software solution into the system.
* **We understand as there was bear market and hence Xpos usage demand was low. Are you guys seeing growth of Xpos usage with current market conditions. Can you guys put some statistics comparison like last 30 days Xpos usage vs any month from bear market usage?**
Zac: It is very clear that as we moved out from the bear market, the demand for XPOS has been increasing. As we’ve shared just now both the transaction number and volume of Q2 have beaten Q1. We’ll be able to share more transaction numbers once we receive approval from our XPOS merchants.
One exciting thing is that, with the listing of different tokens, we also see users using these tokens as a way to transact on XPOS, which means we will be having more ways to transact and this is a growth point for XPOS.
* **When will there be more details for XPHONE and XPOS HANDY?**
Zac: For XPOS handy, we have finished production and it will be released in Q3
* **When will the iOS version of XWallet and XPOS be fully translated to other languages?**
Zac: Right now, the XWallet has Traditional Chinese, Korean, Spanish, German and English. With the latest version update, it now includes Portuguese. XPOS also comes with many languages and we hope to finish with more language, either working with professionals or volunteers. If you’re interested in volunteering, please contact us.
* **When will the Merchant back office have Product Registration and SKU id ability and also integrate with other POS software?** * **When will the top-up feature go away for XPOS to allow liquidity for XPOS**
Zac: We constantly update features in XPOS and merchant backend to make it easier for distributors and merchants to use. We understand that one of the ways for mass adoption is to enhance our distributor management system. With that, the distributors can manage manay XPOS at one time with different merchants.
Please stay tuned as we announce more and more functions of this feature.
## On Dubai
* **When will we see the deployment of the XPOS in Dubai?** * **Can we spend NPXS on the Dubai XPOS?**
Zac: As with all big projects there are a lot of moving parts, that includes working very closely with the local government, in Dubai’s case, the Credit Bureau of the Finance Ministry. Things are progressing for the Dubai project but due to confidentiality agreements with the parties involved, we cannot reveal much. All we can say is that we and our Dubai partners are working hard to have XPOS roll-out in the Dubai market and the UAE.
We are also discussing aggressively with Dubai partners whether to include crypto assets in the XPOS in Dubai. That clearly will involve local compliance and legal for that to happen.
* **Your system upgrades expect merchants to have downtime on their XPOS terminals, can you explain if you plan to run a business why this would be considered feasible (specially at the rate you have been doing your upgrades)?**
Zac: Yes, the benefit / strength of the XPOS is that most of the updates can be done on the fly. For example, when we have a token update on our XPOS where developers submit their tokens on Open Platform, the updates of this token are on the fly, which means that once we approve the token on our Open Platform, it will automatically appear on XPOS without any software updates.
The great thing that we believe about XPOS is not just the support of crypto assets, but also the ability to update most things on the fly, which means that whenever we have a good feature or a new token, the updates will be done instantaneously.
* **Can you guys arrange at least a community voting which is the next blockchain we would like to see next in XPOS? Voting will help to prioritize to chose the projects.**
Zac: One of the reasons why BNB is being listed on the XPOS is simply because of its popularity and also our user demand, in a way that we are already answering to our community’s request.
Right now, our main focus is getting all the tokens submitted on Open Platform to be listed on the XPOS. The submission process includes legal and compliance valid, so our legal and compliance teams are working hard to make sure that we have more tokens to roll out onto Open Platform, which means that they will be on XPOS, XWallet, and XPASS.
As to a specific voting mechanism, we’d like to consider that and hopefully we’ll be able to run a specific voting for the chain which users would like to see.
* **While comparing Xpos handy to Square POS devices at least with mobile it’s very cheap like under $30 and easy to use. When can we expect such light weight and cheaper version for XPOS? Is team working on such devices ?**
Zac: There are different POS companies around the globe and pour focus is to work with these POS companies with our software, so that a crypto sales feature will be part of the existing POS system. The more support of crypto asset usage using our software on existing POS, the better it is for global adoption.
We actually strongly believe that the pricing of our POS system is competitive in the market. And one of the great features of the XPOS is that the merchants will not need not to pay a certain percentage to existing acquirer but to be able to earn certain percentage from each transaction. That is the key differentiator for merchant to want to adopt this.
* **From the website with some of the key Countries for XPOS adoption looks great. However, the concern is for Venezuela, there is no reference link like the others have. Can you guys add the link with details to clear the ambiguity?**
Zac: Let’s give a little bit more patience so that we can actually release more information about our Venezuelan partnership. The good news is that we expect concrete news from Venezuela in the coming 2 weeks. So stay up-to-date about our Venezuelan roll out on XPOS, the best way is to subscribe to our telegram group for Venezuela.
## On Partnerships
* **Are there some major partnership in the works? I’m also interested in how you do immediate transactions? Do you anticipate scaling issues?**
Zac: The way XPOS is being designed is that when you use your crypto assets to purchase, it will have instantaneous confirmation because the action is an off-chain process. An on-chain action happens when a user who owns crypto assets in our system transferring the assets out of the Pundi X ecosystem to their own wallets; or to transfer crypto assets in Pundi X from an off-chain to a private wallet, which we will have very soon on XWallet itself.
That is why we are able to handle scaling. When a person wants to use crypto currency to buy a coffee, the transaction will happen instantaneously.
For specific partnership, especially with B2B partnership, we oblige to the NDA that we have signed. But if you follow us closely, you’ll know that we go to different parts of the world, talking to major companies to try to land more deals so that NPXS usage will increase dramatically.
* **Any big partnerships for making xphone or using the software for xBlockchain?**
Zac: These partnerships are also subjected to NDA, so please be patient for us to release more news.
* **When will XPOS have approval to process Visa and MasterCard payments?**
Zac: We have met representatives from these players including some of the key management people. They are obviously looking into crypto currency attentively, and we hope that there’s something we can do with MasterCard and/or Visa.
This is something that the community has suggested and we agree fully. Please allow us with some time to work on this. We have also showcased XPOS to the CEO of MasterCard. For what or when will anything happen, please wait for our official announcement.
* **What’s the status on Quantum fund and their contribution or involvement with Pundi’s project?**
Zac: We announced last year that we are creating a fund to invest in projects beneficial to our ecosystem. We’ve identified some interesting projects, and we have invested in at least 1 project. The reason why we’re investing in that project is because of the services that it will bring onto the Pindi X ecosystem. So the purpose of the investment of the companies is that these companies in turn will benefit on our ecosystem. This is our key consideration.
The team has evaluated the projects that will benefit the Pundi X / Function X ecosystem. Vic and his team will be able to reveal more details on the companies we have invested in and how they will contribute to our ecosystem in Q3.
* **Recent update on NPXSXEM is highly ambiguous as mentioned that it will be now BEP token and later once FX goes live it will get back to Fx platform. Why you guys had so rush to use Binance chain only for few months? Isn’t you guys switching to much in a short time span?**
Zac: Liquidity and utility have been an issue for NPXSXEM. Due to the design philosophy and the limit of token that can be created on NEM’s smart contract, we are only able to create a small number of tokens on NPXSXEM. By moving into the Binance chain for NPXSXEM, the BEP2 token version will be able to support all the NPXSXEM tokens, which means that we’ll migrate and also be able to make sure all the NPXSXEM tokens are under the same contract address.
We believe with the strong liquidity, we will be able to give our NPXSXEM token holders a good reason of what the token holders have been waiting for. We hope to bring NPXSXEM to match the level of NPXS.
* **When #XRP?**
Zac: Our OpenPlatform is a currency agnostic platform, which means that we will work on integrating public chain as well as tokens that are most requested by the users. We’ll also be looking into the listing of different tokens that are being mentioned by the community.
As said, we will have at least one more public chain integration in Q3, perhaps even more.
* **Are you as a company going to try and connect with libra? If they have said they want to be a payment remittance service, have Square, PayPal, Visa on board I as an investor would prefer you try to join them rather than beat such large competitors**
Zac: Of course, we’ll be delighted to work with Facebook and also the Libra coin. Pundi X and XPOS is a currency agnostic / currency neutral platform, if there’s opportunity to list Libra coin or work with Facebook in different ways to promote crypto currency adoption, we’ll certainly look into that and work on reaching out to them.
## On Trading
* **Can you confirm during AMA, Pundi team is not involved with any trading with their own token like selling over time to manage the fund to run the company.**
Zac: All the wallet addresses of the team holdings are disclosed and transparent. This is one of the first things that we did after ICO. Hence, our token holdings are transparent and everyone can monitor our fund transactions. Also, we have strict internal financial regulation and compliance, shows that we are here to build a long-term project.
The best way to make NPXS or the NPXSXEM to rise is real daily life use case.
* **When will you stop manipulating NPXS chart?**
Zac: Our focus has always been and will be building great products. The more product usage, the demands for NPXS and NPXSXEM will increase. Let’s address again that, Pundi X the company is NOT involved in any manipulation of the NPXS price.
There are trading teams, market makers, financial institutions that profit from the drop and rise of token prices in the crypto market. The good thing about NPXS is that we have managed to create a high liquidity by listing on 40+ exchanges and having global trades and demand from all over the world. We hope this and coupled with the fact that we are a solid product and roll out the use cases, the demand of NPXS will only continue to rise and will be able to deter any of the traders or speculators there is for NPXS.
These traders gain profit from manipulating tokens whether BTC or other tokens. In fact, the traditional financial markets have similar challenges as well. What I want to stress is that, we at Pundi X, do NOT speculate or manipulate the price. We work very hard to create demands for NPXS and as a company, it is only beneficial for us to see the prices of NPXS and NPXSXEM rise.
* **Can we please address the elephant in the room which is the Binance bot with huge sell walls and buy walls causing huge distress and concern among users?**
Zac: First, I cannot confirm nor deny that whether Binance has a bot. I think this is something that you need to ask Binance. We need to work with Binance because Binance has one of the biggest liquidities, if not the greatest liquidity, for NPXS. The best way to counter manipulators is to create more use case, more demand and more acceptance of our tokens.
* **Why on almost all exchanges do you not offer a USDT trading pair?**
Zac: We have USDT trading pairs on Bittrex, Bittrue, and more. In addition, we have fiat pairs in Korean Won, IDR, INR, and Turkish liras. We will continue to work on adding trading pairs for NPXS to make it more liquidate.
* **Why don’t you offer a stable coin sell and purchase on the xpos to help with adoption? Places in Africa with volatile currencies would go crazy for this.**
Zac: It’s a great observation. This is a request that’s been asked from many users. We’re working on stable coin listing on XPOS and hopefully it’ll come soon. Stable coin requires a greater compliance and legal validate, which we have been working on since months ago and we hope to have the stable coin up in XPOS soon.
* **When will you add an active tracker for coin burn, whether its measured in usd, NPXS or whatever you choose. The community has been asking for this on twitter, reddit and telegram for this entire year.**
Zac: It will be hard for us to have a daily tracker of the coin burn, but what we might be able to work on is a tracker which have shown all of the tokens that have been removed from the usage. Thank you for giving us this great suggestion and we will work on it in some form.
Zac: Our token supply has always been specified in our white paper, and as promised in our white paper, we will continue to remove tokens through usage and use cases, which we’re working on all the time.
* **Price movement. When will NPXS go to which price?**
Zac: We cannot comment on the change of the price. Our focus is on building products. We hope by doing that the NPXS value will go up. Again, there’s no way that we can comment on the price.
**I believe that burning tokens every 14 weeks keeps the price suppressed and will only lead to huge pumps and dumps. Imo, If the burns were more frequent, the price would move organically.**
Zac: We continue removing tokens quarterly per advised by our legal and compliance team.
**Is it mandatory npxs swap? What happens for token we have in binance?**
Zac: No it’s not a mandatory NPXS swap for FX.
**How many NPXS or NPXSXEM was converted?**
Zac: In Q2, we will remove 29B NPXSXEM and 9B NPXS.
## On XWallet
* **Why not put in XWallet like the place where we can buy and sell like restaurants and shops?**
Zac: You are correct. In fact, if you look at XWallet, there is a merchant feature, whereby you can register as a merchant. By becoming a merchant, you will be able to print out your QR code and stick it on your restaurant. People are able to make payment through this QR code. This will act like a mini-XPOS.
* **In addition to that having multiple different blockchain in XWallet will increase the XWallet adoption. Hence, we would like to see aggressive game plan and execution from the team and would like to hear that**
Zac: That’s a great suggestion. Every day we want to increase use cases for XWallet. In fact, our XWallet update is one of the most frequent in the market. Within 5 months, we have over 10 updates on iOS and Google Play. This does not include soft update which happens every several days. In my view, the effort is very tremendous.
* **Is there any plan to add Swap option within XWallet so that people can trade the coins within XWallet?**
Zac: Yes, there’s such plan and in fact there is an upcoming feature that people will be able to use coins in XWallet to exchange into other things. The exact form and format have not been reviewed. We hope to share more when we have concrete example. But what you suggested is what we are planning for months ago.
* **When will XPOS and XWallet have fiat on ramps?**
Zac: This is a good question. It’s not only involved with regulatory compliance but also involved the technical part. This is also something we are planning for months. Once approved, hopefully we are able to support fiat currency on ramps and off ramps on XWallet.
**On Others*\*
* **How is the internal organization doing? Currently how many employees work for Pundi? Currently how many job positions are open?**
Zac: Pundi X has grown tremendously. We are now having over seven offices around the globe. I’m sitting in the Singapore office. We have office in Jakarta, Taiwan, Tokyo, Shenzhen, São Paulo and London. These are the places we have physical offices and house approximately 100 full time employees of Pundi X.
The positions open from Pundi X are legal associate in Singapore and other offices. We are looking for more R&D people, especially in Taiwan. We are looking at marketing and PR people in different parts of the world. And we are looking for POS distributors. As a POS distributor, you will work with our business development team and also our technical team to roll out many XPOS which you have a network to control in your local market.
* **Would you consider removing the KYC to allow u.s. holder to stake and be rewarded?**
Zac: We would love to have more users, including US. However, our compliance and legal advisors have not allowed us to accept US holders to stake and be rewarded.
I’m sorry to say that but this is after serious consideration to make such a decision. In fact, it is a very hard decision because we have healthy user base in the US.
will continue to monitor the situation in the different markets and be compliant. There are also ways to be rewarded when using XWallet service without KYC. We are looking into to explore more on this and launch new features. Hopefully we are able to bring the beta version for you to test this week or next.
**On XPhone*\*
* **Where are we on pre-sale announcement of Xphone? It was highlights of Q2 goal. If we are getting delay, that’s ok. But at least community will have some clarification why it’s getting late and when approximately it coming?**
Zac: Pre-sale order will start this month. It’s likely the end of July. Pre-sale will take place in different channel including the official website and XWallet. Apart of our own channel, the pre-sale will go live on a 3rd party channel. People will be able to pre-order crypto either in crypto or in fiat.
* **Can you discuss in AMA, is participants can pay with Crypto or Credit/debit card or in both ways?**
Zac: As a crypto company, we prefer payment in crypto, but fiat, Visa, MasterCard, and other traditional payment methods will be accepted on different pre-order channels. Stay tuned for pre-order which will happen in late July.
* **Will the Xphone be open to purchase in all regions of the world?**
Zac: Yes, pre-orders will be able to be done on-line, and products will be shipped from our offices to users in different parts of the world.
* **Will the blockchain mode on the Xphone be operable during the testnet or will this function not work until mainnet?**
Zac: XWallet and XPhone are the first channel and avenue for Function X testnet, so once the testnet is operateble, we will start to engage certain services on XWallet and XPhone into Function X testnet, and ultimately into mainnet. Slowly but surely.
* **Does Xphone have hard protective cover,extra Sim slot, also is it enhanced with ip68 water rating?**
Zac: XPhone will not be waterproof, so please do not submerge XPhone into water. XPhone will definitely be eavesdrop-proof because we’re using a blockchain mode, only you and you control your own conversation.
* **Which country accept the Xphone?** * **Will I also be able to use the SIM-card?** * **The blockchain modus will work in every country (what in the absense of nodes)?** * **Will the XPhone I buy now support updates in the future?**
Zac: People from any country will be able to buy XPhone on-line. You will be able to use a SIM for we have built a SIM slot. Wherever you are, the XPhone can be turned on to become a node.
Will XPhone support future updates? Yes, of course. Just like the XPOS, we support silent update. It will be like how we support XPOS, many updates. The updates will always be supported on XPhone.
**On Function X*\*
* **When is the detail white paper coming for FunctionX? Why the team is very resistive to have well documented white paper? We need scientific approach and well documentation on FunctionX to have developers to be more involved.**
Zac: Yes, developer involvement is a key criterion of the growth of Function X. We have done 2 things, one is that we have set up Function X Foundation which is led by David Ben Kay and will involve third party adviser and board members. Second, we have set up a developer relations team led by one of our own members as well. This team will work on creating developer documents, developer demos and sample, so that excellent developers can tap into working with Function X resources.
The first version of developer documentation is ready in English and Chinese. We are still polishing up the documents and hopefully to release them soon.
We are also working with third party developers, and are engaging at least 2 third party developer companies, so that we can help create their services on Function X and also XWallet.
We are hoping to showcase a smooth and usable service to the audience, we think this is the key criterion of the Function X growth.
Thank you for this suggestion. We need to update more often on github developer documentation as well.
As for the white paper, we did not have one per se because Function X did not do an ICO. But we will continue to update our white paper and include not only technical details, but also details on the chain and how we can get more developers and users so that the future hardware will be added as a node and you will be rewarded financially, at least through our ecosystem genesis fund. Please stay tuned and there are a lot of things going on in the company. Each and one of us is working hard.
* **Why does the FX ecosystem need a decentralized OS?**
Zac: The mantra of Function X is decentralization and having private control of your data. A full private control of your data comes with a decentralized system not just in transmission of your data, but with the operating system built fully for decentralization , which includes a transmission protocol replacing http. The apps uploaded into Function X will be decentralized as well as the data that is stored on the app, which means that how BitCoin or crypto assets are verified on different nodes will also be part of the way we store data and content.
The decentralized OS is key to fulfilling a decentralized environment for a more private and free usage.
* **What about FX are you most excited about?**
Zac: We are actually creating a shift of how people view of blockchain and how decentralization is not just about transacting commercial commodity, but also data, including your identity, are all decentralized. That is what we are most excited about.
The only way for us to achieve this is to have developer support, for we need the developers to build on the foundation we have to offer those exciting services.
* **We understand that developing a new blockchain is time consuming. As a community we are in a dark space to understand where exactly the development of FX right now.**
Zac: We are working hard on creating the testnet and eventually the mainnet. For the latest updates of Function X, what I can encourage you to do is to go on and subscribe to the Function X telegram group where discussions are made. We have formed the Function X Foundation and created the developer relations team, so that the Function X progress will go smoother and with more partnership from outside, whether it’s developers, third party companies, teleco, etc.
* **When FX goes live on the mainnet, will FX coin be used to stake and earn NPXS? how will staking work on that new mainnet?**
Zac: The NPXS/NPXSXEM staking will last till March 9, 2020 as announced. What we are committed is to create more use cases. For FX tokens, the use cases will be focusing on the Function X Chain and the use cases on Function X that include DApp on Function X and different hardware/software services.
* **When fx testnet will be available?**
Zac: First I would like to thank you for your constant support. In Q3, we plan to open Function X testnet so that we will be migrating and creating certain use cases that can be used on Function X testnet, starting with our own XWallet. Which means, the XWallet will migrate some features into Function X testnet, and slowly followed by our other Pundi X products, including XPhones, XPASS, Open Platform and Function X own developer related products from third parties.
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Weekly Update: $BOMB SWOT Analysis, HYDRO dApp store, Silent Notary Consilium, Job Opening at OST... – 20 Sep - 26 Sep'19

Weekly Update: $BOMB SWOT Analysis, HYDRO dApp store, Silent Notary Consilium, Job Opening at OST... – 20 Sep - 26 Sep'19
Hiya folks! Happy Diwali to everyone. Here’s your week at Parachute + partners (20 Sep - 26 Sep'19):

Tons of quizzes and contests this week at Parachute + TTR. Doc Vic hosted a trivia on medicine and another one on WW2 this week in TTR. A total of 50k $PAR given away. Victor hosted another trivia there too for 25k $PAR. Sweet! The Big Brother contest came to a close with the finale this week. The winner of Big Brother was Michie, who sadly no one picked. So all 21 participants won 5K $PAR each! Another 70k $PAR was given out to other winners. Plus, $202,500 PAR have been awarded in the various Big Brother contests earlier. Huge! Thank you Gian for doing all of this. And did you get a chance to partake in Tiproom’s Mememania? 50k $PAR in prizes – 25k for top 10 winners and another 25k for 100 memes. Next week’s update will feature some of the funniest memes from the contest. Richi hosted a Movie Trivia in Tiproom for a 25k $PAR prize pot for 10 questions. Woot!
Looking good Alexis!

Catch up on the latest at aXpire from the weekly update video compiled by Joakim. This week’s 20k $AXPR burn can be tracked here. CEO Gary Markham, who sits on the board of Hedge Fund Association, travelled to an HFA event to spread the word on the project. In the last update, we shared that 2gether was hosting a blockchain and tokenization based contest named Crypto Talent in partnership with IEB Spain for students and professionals. Read more about it here. News of the competition was shared on Cointelegraph as well. You can also listen in to Founder Salvador talk about the contest here and here. Check out the 2gether T-shirt that the team wore to the South Summit next week. Neat! CEO Ramon spoke at the Finnovista Pitch Day about FinTech innovation. Salvador’s interview along with a profile of 2gether was published in The Blockchain Land. The winner of the Birdchain Art Contest was announced this week. Congratulations! Plus, some news updates on the app were shared as well.
Birdchain Art Contest winner. Wicked!
Last week we shared that the $XIO ERC20:BEP2 bridge testnet trials have gone well. Here’s a sneak peek into how it looks. Once activated (condition to the acceptance of the Binance Dex listing application), the bridge will be open for roughly a month*. Dash also talked about 3 marketing mistakes that crypto startups make commonly – paying for PR (earned media > paid media), focus on follower count (organic reach > vanity metrics), airdrops (unless done strategically). If you had questions on how the XIO system will work and help startups scale, then fret not. Zachary wrote an article and video explaining it all. The community also voted this week to opt in for an SMS update option if there were ever one. The $BOMB community survey results are also out. This set the basis for a detailed SWOT analysis of the token. An excerpt from Benjamin’s 4% burn report was published on Coinbeat as well. In this week’s discussion series, Zachary reflects on market movements and the nature of the XIO incubator program.
\*[As of today, the switch to Binance Chain has been shelved. $XIO will stay on Ethereum. But there will still be a token swap. Details will be shared in a later update]
BOMB survey results show that the community is well distributed across the globe
Fantom’s Statheros stablecoin project will be partnering with a South African bank working on a mainnet launch. Initial details of the tie-up were released. The news was covered by CFN as well. CMO Michael travelled to a CFN event in London. Click here for pics. Technical Update #14 came out too. The big exclusive at Uptrennd this week was bagging an interview Andreas Antonopoulos. Awesomeness! Loopring CMO Jay sat down with founder Jeff to talk about the road ahead for the company. In this week’s public vote, the community voted to get TomoChain a free review from Altcoin Buzz. Community member Jackson Jerry took the initiative to deliver a presentation on the platform to thousands of students during a University Blockchain Awareness tour. Writers were in for a treat with the start of an article writing challenge with a 1,750 $1UP prize pool. Say what! Like last week, this week’s Meme Monday event saw some hilarious submissions. Uptrennd also got coverage on Micky News’ PR piece. Noice! Welcome to the Sentivate crew Jack! Learn about domain extensions and universal domain systems in this detailed article and thread by Sentivate founder Thomas. Tech enthusiasts were in for a treat this week with discussion threads on 5G and packet puzzles. The latest District Weekly from District0x covers mostly dev updates from the past week. Classic memes was the theme for this week’s Meme contest :p
Old school memes FTW! Lmao
Hydro got nominated for the Florin Asia Innovation Award. Good Luck! The Hydrogen dApp store was opened up for beta testers. The store is also open source. Great! Click here to read up on the structure of the dApp store and how it was built. A number of third party partners joined the store this week including 3Box, TotleCrypto and Carbon. General Operations Manager Marcco Paez sat down for an AMA with Crypto Nation to talk about Hydro. Hope you got a chance to get your questions answered. The team was at InsureTech Connect to represent the project. Want to check out an awesome spectacle? Hydro’s article on visualising code activity in decentralised projects has some uber cool visualisations. You could create one too using Gource. The latest developer update summarises all work done in the past week on the dev front. Silent Notary announced the launch of a Consilium system which will be using its own blockchain network (IDL) for legal actions on the platform. This was necessary since the Ethereum chain is anonymous and legal proceedings require identifiable actors. The $SNTR token will continue to exist on both chains (Ethereum and IDL). For more titbits on the update click here, here, here and here. For updates on Ubikiri, make sure to join the ann channel on Telegram started recently. Full list of socials can be found here. The $LAW referral bonus started last week has seen 4000+ wallets receiving the tokens so far with more on the way. Plus, the presale details are now available on the IDL site.
Hydro dApp store dev visualisation. Beautiful
Last week, the Arena Match community voted to decide which exchange to pursue for a listing of the $AMGO token. DDEX emerged as the winner of the vote. This week, $AMGO got listed on DDEX. Also, the much awaited review of the project by the Uptrennd team was published in two parts (Part I, Part II). Blockfolio and Delta accepted $AMGO for listing on their platforms. Woohoo! Job opening alert on OST: the team is looking for a Product Lead. Apply if you’re up for it. CEO Jason explained how adding friction in early onboarding process helps achieve product-market fit in this tweet thread. Congratulations to SelfKey for becoming an official member of CryptoUK, a self-regulatory trade association based in UK. If you have considered opening an offshore bank account, check out this article on the best countries to choose from. You can make your first move using the Wallet marketplace as well. Hope you took some time out to vote for SelfKey for the Blockchain Identity Management Use Case Award. Constellation’s partnership with the US Air Force was covered by Forbes this week. The team also announced a partnership with StackPath to make node deployment scalable for enterprise clients. Co-Founder Wyatt travelled to USC, Los Angeles, to a Hyperledger meetup to talk about how blockchain protocols can achieve elasticity. Click here to watch his presentation. Bags token launched a 10k $BAGS giveaway contest for helping spread the word on the project. Sweet! The first promo video is up on the BAGS TV YouTube channel. Check it out! An Upcycle Event in the BAGS Bazaar allows you to exchange some of your tokens for $BAGS. This week, they held their 4th Bazaar Upcycle event.

And with that, it's a wrap for this week at Parachute + partners. Ciao!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

Looking at how undervalued this coin is, I had to make this post (OST)

Today I was searching through reddit about a token I love (Simple Token), but I found no posts or mentions of it. In this alt-season, finding an undervalued token is the best skill but a lot of those go under the radar for a long time because of lack of exposure.
Let me start with a simple summary of Simple Token (OST)-
It's basically used to power and link niche token economies from mainstream consumer apps and build a network of Branded Tokens with OpenST protocol, which businesses can use to launch Branded Tokens without doing blockchain development of their own.
Till now crypto has only been powering upcoming DAPPs and very few tokens have been looking to integrate the current app infra to blockchain.
So in a way the OpenST protocol could be used to build things like Steem, MobileGo, Cryptokitty, DNT etc. Even one consumer app like Cryptokitty clogged the Ethereum network. ST can be a good solution to add scalability to the Ethereum blockchain with its sidechain solution.
OST is to ETH what ARDR is to NXT. Soon people will realize that sidechains are the solution to scale mainchains like ETH and NXT and the sidechain projects will blow up.
https://www.youtube.com/watch?v=oLQSM5prDgk
https://medium.com/simple-token/crypto-kitties-a-puuuurfect-use-case-for-simple-token-717f3a58df14
To give you some insight, we are talking to loyalty point platforms, gaming platforms, marketing platforms, various user-content/social platforms, logistics platforms, payment platforms and some blockchain projects and decentralized applications across automotive, medical, energy and social that are considering using white label tokens and the benefit of a broader Simple Token based branded token economy. The big thing to figure out is how your token economy will move tokens arround: how will they be earned and spent and how can they be bought. This article we published a while ago gives a great HL overview of some ways the tech can be applied to tokenize businesses and applications: https://venturebeat.com/2017/10/31/take-off-your-bitcoin-blinders-theres-no-right-way-to-use-blockchain/
From the team recently
So now that we've established what it does, let's go to the team.
ST has the same team that built fab.com which was at one point hailed as the fastest growing startup in the world. It raised $350 million of VC funding, had 800 employees was valued at a billion dollars during its peak. It failed in the end due to the failure of hypergrowth model sustainability but the team nevertheless showed they are capable of building a big venture from ground up.
https://www.youtube.com/watch?v=mEleBd9b8gA
https://www.youtube.com/watch?v=W8iedA2dQKs
Videos of the CEO explaining the protocol.
A few points I'd like to mention which stand out for OST imo:
  1. This was hands-down the best managed ICO I ever saw. There were no hiccups, every problem was instantly solved and almost everyone got the same bonuses. The best part was pre-sale tokens being vested over the year and yet 25% of ICO funding was raised through that.
  2. This is hands-down one of the most professional team I've seen in crypto. To try you could go and troll Jason (the CEO) on the telegram channel as much as you'd like. But he'd be humble and calm and answer all your questions in detail. They take abuses as gracefully as they take appreciation. They reply during holidays, engage in conversations, take feedback and work on it. At times I feel that they're outsiders, too professional for the out-of-reality devs in crypto. Just read this (article from CEO) and you'd know why I say that. https://hackernoon.com/insider-reflections-on-the-ico-bubble-part-ii-what-it-takes-to-ico-73a93685197a
  3. A lot of new updates coming in January (hint: New exchanges and partnerships) - https://medium.com/simple-token/simple-token-prepares-flying-start-to-2018-12154670dae9
  4. Naturally I felt all this was too perfect to be true and I was apprehensive of their technical capabilities but when I checked out their team, I saw the Chief Technology Strategist is Bejamin Bollen (https://www.linkedin.com/in/benjaminbollen/), he was a lead developer at Hyperledger Burrow, before that he was a lead at Monax industries providing enterprise blockchain solutions and before that he was a core developer of the MaidSafe protocol. The technical acumen box was also checked.
This is one of my most promising long-term hold and it's way undervalued right now. Sidechain solutions can be huge going forward because of scalability issues of BTC and ETH. I'm betting on the team here and I feel this can easily be a top 20 coin. Currently sitting at 50 mil MarketCap.
It's on binance and new exchanges will be added soon. I don't care about shilling this but even if a few people will read this and realize the potential it has, I'll be happy. I just had to do my part in letting people know about it and I did, DYOR and I'm sure you'll find it undervalued too.
Whitepaper: https://drive.google.com/file/d/0Bwgf8QuAEOb7Z2xIeUlLd21DSjQ/view
Presentation Deck: https://drive.google.com/file/d/0B4f0lcszU8fnRmZKNWhUc1FoaUU/view
Website: www.simpletoken.org
submitted by nucky888 to CryptoCurrency [link] [comments]

Questions about Contractium

Questions about Contractium

1) Why do we create CTU?
Ethereum's blockchain technology based on the Proof-of-Work (PoW) algorithm and now it is planning to switch to Proof of Stake (PoS). That’s why we create Contractium, which is based on Ethereum with the Proof-of-Contract (PoC) algorithm.
2) How are CTU created?
The total supply of CTU and its rate of issuance will be decided by the donations gathered on the 2018 presale. The results will be roughly: • 900 million CTU will be created to contributors of the presale. • 200 Million CTU will be created to the development fund, most of it going to early contributors and Founding & Developing Teams. • 200 Million CTU will be created for team and partners all over the world. • 200 Million CTU will be created for business experience with the other business platforms all over the world.
3) Is the CTU supply infinite?
No. Total supply: 3,000,000,000 For sales: 1,500,000,000
4) Who needs CTU?
PARTY A: (As contracter role) Game developers Business Sellers / Suppliers / Vendor / Retailers / Wholes Publisher Advertiser Consultant / Provider
PARTY B: (As contractee role) Game player Freelancer Buyer / Purchaser / Vendee / Customer / Shopper Audience User Client
5) Who intend to use the Contractium to proceed the smart contract?
I will buy CTU during the 2018 ICO. How will I access it? You can access to your sending ETH ERC-20 Wallets to view or send CTU tokens: - Ethereum Wallet - Myetherwallet - Metamask
6) Can I mine CTU?
No, you can not.
7) What's the relationship between ETHEREUM and CTU?
Firstly, we should know about the relationship between bitcoin and ether? Ethereum would never be possible without bitcoin—both the technology and the currency—and we see ourselves not as a competing currency but as complementary within the digital ecosystem. Ether is to be treated as "crypto-fuel", a token whose purpose is to pay for computation, and is not intended to be used as or considered a currency, asset, share or anything else. And the relationship between Ethereum and Contractium? Ethereum's blockchain technology based on the Proof-of-Work (PoW) algorithm and now it is planning to switch to Proof of Stake (PoS). Contractium is based on Ethereum with the Proof-of-Contract (PoC) algorithm.
Hence, Contractium would never be possible without ETHEREUM, both the technology and the currency. Again, we see that ETHEREUM is a token whose purpose is to pay for computation, and is not intended to be used as or considered a currency, asset, share or anything else... That's why we create Contractium.
There are many ways in which you can trade ETH for CTU and vice versa: Trading ETH for CTU: - We will work with multiple third party companies, as cryptocurrency exchanges to make the exchanging of CTU and ETH as soon as possible. Working as freelancer for CTU: - We will work with multiple third party freelancer marketplaces on Integrating Contractium for online services so that freelancers can earn CTU via working deal Buying / Purchasing goods online for CTU: - We will work with multiple third party e-commerce sites on Integrating Contractium so that users can earn CTU when buying/purchasing goods online. Internet consuming for CTU: - We will work with multiple third party companies, such as: publishers, advertisers, social media, social networks, display ads networks, search engines, community sites... on Integrating Contractium so that their users can earn CTU when clicking/reading/viewing/watching an ads in common. Subscription with registered personal profile ( Giving out personal social data) for CTU: - We will work with multiple third party commercial platform/software... on Integrating Contractium so that their visitors can earn CTU when providing personal data to make a subscription and/or a business subscription.
8) How do I send CTU to other wallets?
ATTENTION: Contractium addresses don't have built-in checks on them yet. That means that if you mistype an address, your CTU will be lost forever, without a secondary confirmation window. If you are moving a significant amount, start with smaller quantities that you can afford to lose, until you feel comfortable enough. There are two types of Ethereum wallets: Exchange wallets: Such as:
POLONIEX
COINBASE
KRAKEN
BINANCE
BITTREX
etc... Ethereum ERC-20 wallets: Such as: - Ethereum Wallet - Myetherwallet - Metamask
You can buy CTU via token sales with Ethereum ERC-20 wallets and hold it or you can send CTU tokens to the exchanges to trade it with the other tokens. (to be updated with contribute CTU address)
9) Transaction Receipts?
Anytime you create a transaction in Contractium, the string that is returned is the Transaction Hash . You can use those to keep track of a transaction in progress, or the amount of gas spent in a past transaction using: {with your Ethereum addresses} (Etherscan is a Block Explorer and Analytics Platform for Ethereum, a decentralized smart contracts platform). and/or (Ethereum Tokens Monitor: Easy to view for investors and ICO API and Widgets for developers)
submitted by RiinaLaine to u/RiinaLaine [link] [comments]

UBEX: A DECENTRALIZED GLOBAL PLATFORM HANDLING ADVERTISEMENT IN A PRO WAY WHERE EVERYONE BENEFIT.

UBEX: A DECENTRALIZED GLOBAL PLATFORM HANDLING ADVERTISEMENT IN A PRO WAY WHERE EVERYONE BENEFIT.
PREAMBLE
When users browse the internet, such as web pages, social networks, or email, we often get annoyed by unwanted ads. Take for instance, you just follow a link to an article and suddenly your speakers blare. Pop-ups, Banners or videos appear on screen, you accidentally run your mouse over an ad that bursts into life, and an inescapable autoplay video follows you as you scroll down the page. You have to shut up these distractions before you can actually see the content you clicked over here to find. Such experience is so frustrating on the side of each user as all of it is trying to attract our attention to goods and services that more often than not we either don’t need at all, or don’t need at that time.
The UBEX ad exchange, through the use of Artificial Intelligence (AI) and Blockchain technology, changes this game! Instead of annoying ads, we now only receive information that is relevant, useful, and timely.
The mission of the UBEX project is to create a global advertising ecosystem with a high level of mutual trust and maximum efficiency.

https://preview.redd.it/ph96y7o9ymk11.jpg?width=277&format=pjpg&auto=webp&s=c762cf017592e1a5e96007df0a98169460983a2c

HOW THE UBEX ECOSYSTEM WORKS
i. Within a split second of a user accessing a publisher’s website, the neural networks embedded in the UBEX system do the following:
ii. Collect maximum information about both the site and the user, analyzing their current interests and needs.
iii. Gather a list of ads that would appeal to the user the most, and ultimately select the one that is the most relevant and financially beneficial.
iv. Determine the best format and the most appropriate placement for the ad on the website, based on the strategy of maximizing results. Users now much more eagerly respond to advertisements, which lead to an increased number of purchases for the service providers/goods sellers as the case may be.
This is how UBEX makes life easier not only for the users of the internet but also for advertisers and publishers. Within the UBEX ecosystem, ads are relevant for users, effective for advertisers, and profitable for publishers.

https://preview.redd.it/o4ll3x751nk11.jpg?width=727&format=pjpg&auto=webp&s=5c1855946675d8ff75a63ac2b0957bcc4dd8b9ed

SPECIAL BENEFITS OF THE UBEX ECOSYSTEM
Briefly discussed below are some salient reasons why UBEX ecosystem is of important benefit to the advertising world at large:
  • Advertisers no longer need to hire marketing experts or waste money on testing different advertising channels which may prove to be ineffective as Neural networks automatically weed them out, selecting only the most optimal distribution of ad content among suitable websites.
  • Publishers no longer need to worry about filling ad slots or low ad returns. This burden is taken over by the Artificial Intelligence. Every slot is filled with the most relevant advertising content at any given moment in time. This results in higher earnings for publishers.
  • UBEX operates in a distributed, decentralized environment, based on the blockchain technology. This ensures transparency of operations for all participants. Blockchain stores all necessary data for the artificial intelligence learning, as well as information on publishers’ sites, ad content, offers, history of the participants and their reputation.
  • As the UBEX participants’ reputation grows, their earnings grow as well. Advertisers with a good reputation will have their ads displayed more often and on better terms. Plus, they will be trusted to use the performance-based compensation, and only pay. Take for instance now, for actual requests from potential customers or only for concluded sales. If a publisher has a good reputation, their ad slots will be filled with the most profitable ads. On top of that, they will be able to productively tokenize their websites by receiving UBEX tokens in advance for future periods.
  • Smart contracts and UBEX internal tokens will keep the middlemen and their fees out of the equation. Ultimately, advertisers reduce expenses associated with selling goods and services, and as a result gain an opportunity to lower their prices.

INTERESTING UPDATES ON THE UBEX PROJECT
Below are some of the successes that the UBEX project has achieved so far, and of course more of the successes are in the making to evolve in the nearest future as the project is an exceptional one and the team behind UBEX is so competent and not relenting in their pursuits to making UBEX widely accepted:
  • The UBEX Token has been added to the Binance Info resource.

https://preview.redd.it/pfvxo2ziymk11.jpg?width=879&format=pjpg&auto=webp&s=1e5b68ffac6c7af420cd2b505ebd97fb033b6974
  • The Bilaxy exchange has listed the UBEX Token, and as well currently trading on some other reputable cryptocurrency exchanges such as Bitforex, BitMart, and BTC-Alpha.

https://preview.redd.it/cdzpqalkymk11.jpg?width=913&format=pjpg&auto=webp&s=9ee65d1363bf4f93877121401954b66fc0fa5d96
  • ICOHost has attributed UBEX the highest possible rating of 5.0

https://preview.redd.it/uguuwcqlymk11.jpg?width=893&format=pjpg&auto=webp&s=5ba9f001b52fa2be593123242be92ea8c0ca410d
  • The UBEX project won the voting for listing on the LBank exchange.

https://preview.redd.it/314jripmymk11.jpg?width=501&format=pjpg&auto=webp&s=b9eae4afcf79cae32a80455a058fd9fe4f69f088

TOKEN INFORMATION AND SALE DETAILS
Token Type: ERC20
Blockchain: Ethereum
Token Symbol: UBEX Tokens
Total Supply: 4,000,000,000 UBEX


https://preview.redd.it/gf4m7c3zymk11.jpg?width=819&format=pjpg&auto=webp&s=23ab5d9914f01deaeef92b273ff302588a74afc7

Soft cap: 4,000 ETH
Hard cap: 28,800 ETH
Token Price: 1 UBEX = 0.00001 ETH
Bonus System: Yes
Know Your Customer (KYC): Yes
Whitelist: No
Payment Gateways: BTC, ETH and LTC

TOKEN DISTRIBUTION

https://preview.redd.it/g6w3q6esymk11.jpg?width=909&format=pjpg&auto=webp&s=8584a3b350d75c1c6c8e096127f340f183f1fad9

MEET THE TEAM
Kindly refer to the team section of the official website in order to view the profile of the brains behind this amazing project, UBEX.

In conclusion, the UBEX Token sale is ongoing at the time of writing this article and the token sale would end on the 30th September, 2018. As an investor, based on experiences from the crypto world, I strongly believe that the valid good news from the UBEX project so far is enough to justify why you need to be part of its community and become UBEX Token holder now when its price is still much cheaper to afford!


https://preview.redd.it/6qrceqi3zmk11.jpg?width=917&format=pjpg&auto=webp&s=6e538eac88c9844e6a67d8f298bf1563d1670b7d
For more information about the project and how to purchase the UBEX Token, kindly get connected with these links:
WEBSITE
TWITTER
FACEBOOK
LINKEDIN
INSTAGRAM
MEDIUM
REDDIT

WRITER'S DETAILS
BitcoinTalk Username: cryptoblezin
ETH Address: 0xC89b8Dd7e3E137DB108575EeAe301E52b6C72d9F
submitted by blessingsdrop to CryptoMarkets [link] [comments]

Best of the best Q&A Stephens and Shingos. Team, Community, Competition, POS, Marketing

Team
stephen corliss, [19.10.17 21:07] Team Bitquence, Who Are They? Collectively, the team has over 150 years of professional experience, lead by a leader who has accomplished more in 19 years than many people will over their entire careers. This team has the skills and gumption to deliver what it promises. These simple facts should be enough to stop anyone from spreading FUD that anything here is a scam. If it is not, let me say this, I carry securities licenses that are overseen by government regulators and I also founded a regulated investment business that is still active. If I, or anyone as part of this team, were involved in anything devious, the Feds would be at my door with handcuffs. Would I or anyone of us really be this stupid? I can’t wait to remove all these irresponsible pinheads from this industry who care only about themselves rather than society. In the world I desire, there is absolutely NO room for greed anymore where society suffers at the hands of a few!
stephen corliss, [15.09.17 17:43] [In reply to James: stephen interested to know if Bitquence was on your radar before you joined us?? Or were you interested in getting into the space and they approached you?] Hi James, I've actually been in crypto since the early days all the way back to 2013, hopping around the globe trying to help shape the vision for our industry. BQX and I stumbled upon one another and immediately discovered we shared the same visions and inspirations to deliver a truly transformative platform that is built for the consumer to help them in every way possible to take control of their financial futures. This is also why Shingo and I believe our platform should cover not only crypto but even traditional fiat assets (sec's, bonds, etc). This is critical as consumers will have the majority of their wealth tied up in traditional assets, like those retirement assets tied up in employers retirement plans, for at least another decade before they can transition to the Blockchain.
stephen corliss, [24.08.17 02:47] [In reply to Matt Hopkins: stephen I cannot express how impressive the response from the team, Shingo, and yourself has been. Reading the white paper and watching your videos where just a glimpse into this amazing vision and platform. You guys have brought this community to the next level. Thank you for your transparency and constant updates. I know I speak for the whole community here. Here’s to a great future with Bitquence.] Matt, Thanks man. I've seen a lot of stuff in my life and people who claim to be visionaries, only one of them could hold a candlestick to Shingo. You know, I've seen and been involved in a lot of exciting things over the years but nothing like this. Not even close!
stephen corliss, [25.08.17 21:07] [In reply to Liam: Stopping wild rumours in their tracks with your unbeatable knowledge of all the rules and regulations that need to be adhered to, I wonder how other crypto companies ever manage to survive without someone like you on their team] Sustainability of Bitquence and the entire eco-system is of major importance so some times it means getting very deep into the weeds as the complexity level globally can be a daunting task to most. But, it can be fun, especially if your bit wacky like me!
Shingo, [30.09.17 05:59] [In reply to Long Ton: How many coders do you guys have working on Bitquence? I’d be concerned if Shingo was managing university and coding] 7 or 8 devs if you are talking about technical people working on various aspects of the platform. The number feels about right to me. Jeff Bezos always said you should have no team that is too big to share 2 large pizzas otherwise you lose productivity
stephen corliss, [02.11.17 16:02] [In reply to Markus Winnen: What´s the story behind hiring you? Did you know each other before or how does the contact happened? :D]
We didn’t know each other but we had some mutual acquaintances. After meeting, Shingo and I immediately hit it off and also discovered that our dual solutions for creating a new eco-system for global financial services had a lot of overlap. So, they asked me to come on as a founder. Decision was easy.
stephen corliss, [02.11.17 23:49] [In reply to Ab Alphabeta1: amongst all your positions at work so far, which has been your favorite ? I know the first job is always special, apart from that?] My work at BGI/iShares was very special for numerous reasons but none more meaningful than having alignment of core values. The work itself was awesome as I had to build a global sell side business across asia, europe and americas, which is extremely hard to do by itself but doing it within a buy side asset manager and then integrate the two together was unheard of. Building an entire infrastructure including global trading systems across all asset classes including equities, bonds and cash is a lot of fun as you have to also build all of the upstream and downstream processes and tech and then overlay 100’s of jurisdictional regulations and laws while collaborating with regulators. Crazy fun but it was even more rewarding because in a short period of time we grew it to a $200m revenue a year while trading $350billion in assets.
stephen corliss, [10.11.17 18:06] [In reply to Kevv: if you don't mind be asking Stephen, what's the team plan with recruiting/getting more dev/marketing/back end ppls ect?] Its a continuous process but we have the core team of expert devs building as we speak and our expanding with other experts, eg. AI and Machine Learning, so things are changing rapidly as we progress on the roadmap. Non-technical staff are also in the picture and being added continuously as we have already have key staff onboard as part of the assembling of a highly skilled marketing team. Lots happening!
stephen corliss, [15.11.17 15:31] I learned quite early on that creativity and innovation are things that can come both normally and with intention. Most people don’t deliberately set aside time to tap into these skillsets. For me, I’ve always allowed myself time each and every day to challenge conventional ways of thinking, business and economic models or broad processes. This often allows me to devote the time to really understand an issue, model and process so I can then break it apart into small pieces and rethink how to rebuild it to be bigger, better and faster. This is why school for me was frustrating as it moved at a pace that doesn’t truly allow one to build in-depth knowledge and understand all sides and angles. Most of what I have come to know came afterward or what I did on my own time. Hate to admit it but my hobbies are not traditional, I like researching the history of capital market and economic models and studying congressional history around how market based rules came about and what motivated them. Weird? Yeah, a bit but if you truly love something, who cares!
Community
stephen corliss, [28.10.17 14:21] All, As the public opinion debate about Bitquence is beginning to ramp up I wanted to take a moment to share some thoughts. Openness and transparency are one of the several reasons I decided to enter crypto several years ago. This may seem strange coming from someone with my background but in my opinion, the traditional approach of hiding behind the corporate veil is cowardly and toxic. So, for any firm in this space, both it and its supporters must embrace diverse opinions and have an intelligent and open dialogue with those that disagree with our opinions. Lets not embrace the culture that exists in our global politics where those with different opinions are tarred and feathered but rather choose to behave like adults to set the example for our youth. Crypto is not about being closed minded but rather quite the opposite. So, when we are challenged lets not scream the loudest and attack but rather choose to engage those having different opinions in an open intelligent dialogue. Lets ask the tough questions of ourselves and others. If someone has an opinion, lets discover what informs that opinion by demanding openness and transparency about the facts that matter when sharing that opinion such as someone’s background or the analysis, facts and details that support it. As you all know, Shingo and I are here everyday to answer all of your questions, whether easy or difficult. This is a conscious decision on our part because of two main reasons, first because leaders in our industry should not cowardly sit behind the corporate veil like our traditional corporate counterparts and secondly, because we are building a global community that desires a financial system that works for society rather than against it. Lets embrace diversity of opinion as we are a diverse community from all walks of life who understand that differences should be embraced rather than pushed aside. I will be here everyday no matter how big or busy things become at Bitquence. Not because I have to but rather because I want to. I’m not afraid to be challenged and neither should any of you as this is the only way to get to the best result. I love this community so lets do everything we can to maintain a culture of openness that embraces our differences to discover the best answers. Change is coming!
Shingo, [10.09.17 18:42] The Bitquence community is different from other communities. We are smaller, but passionate because we all share the same pain points and yearn for the same vision. You don't see this sort of passion in many other places which is why we don't care very much about the short-term. We are looking long and when we have the product, we will get people to come and Bitquence will change the way people interact with crypto
stephen corliss, [19.10.17 21:22] Those of us in this community all know that we have the best community as each one of us plays a powerful role in building the momentum behind a unique grassroots movement that is absolutely scaring the shit out of our competitors. People Powered ya’ll !! stephen corliss about communication [21.08.17 18:32] You all deserve nothing less! We pay attention and want to ensure we all move along together and share in the fun
stephen corliss, [12.10.17 05:29] [In reply to Ke: Stephen can you specify 1 or 2 concrete things that those of us longterm holders who see the vision especially the 7yr plan to overtake Fidelity can do right now to help make it a reality perhaps sooner than we imagine. I believe alot if folks here are in this not just for the profits that will surely come but also because the vision of changing consumer finance is noble.] Two things, absolutely. 1) Every chance you get whether digitally or voice speak positively about this industry and recognize that early on it was full of bad stuff but we are changing that now by legitimizing everything we do so we can change financial models for the future 2) re-Post anything from this forum, other forums or from our site that you believe in, to any venue whether it is Facebook, Twitter, LinkedIn, Reddit; etc. Don’t do or post anything that you don’t truly believe in as people will see through that instantly. This is not about a single person or company, this is truly about what is best for us as a global community. Our dipstick lawmakers may believe we live in separate societies, but I believe we live in just a single global community who wants more than what the current rules and structures consider. Yeah, a bit of a soapbox comment but this is our time to really deliver change. That is what drives all of us.
Shingo, [26.10.17 20:46] We have said time and time again, we are looking for real, organic growth and a genuine brand and community. That is why we avoid hype, shilling and all that comes with it
stephen corliss, [04.11.17 06:04] This project is backed by a community. We are not defined by any one individual, not Shingo, not me, not the team, but instead a collection of individuals who desire change. We have many supporters and we appreciate them all and although I personally don’t know Suppoman, I would ask that you not slander anyone in this forum. Lets just keep everything professional and focus on delivering change together.
stephen corliss, [25.08.17 04:43] [In reply to John: stephen enlighten this newbie here...what can i expect for investing in bitquence] Game over bro! Sorry for the playground choice of words but if anyone has aspirations to see mass adoption of crypto become a reality then they need to be a part of this community who together will make this a reality. I couldn't mean this anymore than I do. This only happens with every one of us sharing a goal to deliver a new paradigm for financial services, especially how we build wealth ( that means You, Shingo, Adam, Kevin, the other BQX team members, everybody!)
stephen corliss, [10.11.17 23:57] Community Message: All, I wanted to share some thoughts on community etiquette. As we are moving quickly into a very serious phase, I want to share with all of you our views on how we proceed and protect our positioning and image. As you all know, we are a community fighting together to bring real change. As part of doing this, what this means is that we are having serious strategic discussions with countless serious and successful businesses to partner with us as service providers, strategic partnerships and the like. However, what this also means is Bitquence is now under the microscope and held to a much higher standard than most. To ensure we maintain the best public profile this means we must also ask the same of all of you as we are in this together. So, earlier today we had some person enter the forum talking about shorting and referring to BQX as a scam. Rather than sit idle and extend a long rope as we normally would do, I banned this person almost immediately. I didn’t do this to “muffle” anyone’s voices or to limit healthy debates or discussions but rather to protect the public profile of the community and Bitquence for the very reasons I just shared. I promise you that we love and embrace diverse opinions and love open debate but we all must now realize the we have moved into a very critical phase and professionalism has to be the standard. We are doing the impossible but each and everyone of us is playing a critical role in our overall success so lets not allow Fudsters and people focused on themselves to tarnish our image.
Thank you all for everything. Much love!
Competition
stephen corliss, [28.09.17 14:57] If you can find me just 1 single competitor who can do what we plan and do it in a way where they won't violate laws and can service every jurisdiction, let me know. I don't see anyone thinking about this the way we do. Remember, first may be okay initially but if your model isn't sustainable and insulated from all the changes to laws and regs that are forthcoming, then it won't matter as you will be out of business. Working smarter and with speed and precision is always better in my book. I don't think the complexity of what we are doing and the space we're doing it in is always apparent. You can't just build something, especially in finserv, without knowing first where all the minefields are, as many have tried before and have since departed with many others to follow. Don't get me wrong, I don't wish this on anyone but if you don't plan appropriately, there really isn't an excuse. If we are sustainable, everyone wins. The team has basically doubled in a week, so the train is rolling at a high rate of speed to deliver not only an innovative model but also "several" innovative tech solutions.
stephen corliss, [15.11.17 04:14] [In reply to EstimatedProphet: Stephen since you are the global strategist, what do you feel gives you a strategic advantage in comparison to competitors? Is the product quality? Is it your former experience in the finance industry? I would love to know. Also, do you feel that certain relationships you have made in the past working for BOA and BlackRock provided outlets/resources that others might not have access to?]
Great question. Let me try to answer as best I can. what do you feel gives you a strategic advantage in comparison to competitors? With Shingo’s vision and capabilities, my knowledge of global market structures and regulations and the expert team we have brought together, I believe there is no other firm with the collective capabilities that we have at Bitquence. I’ve personally spent nearly 30 years studying everything about global finance, capital markets, structures and regulation. I believe the team here cannot be replicated anywhere. So, competitors may be able to copy but they will never do it as well as us because of our knowledge advantage. Is the product quality? Knowledge and capabilities unleash quality, which is what will differentiate us from all others Is it your former experience in the finance industry? Partially but it is the team that gives us the advantage. Also, do you feel that certain relationships you have made in the past working for BOA and BlackRock provided outlets/resources that others might not have access to? OH, MOST DEFINITELY Lastly, what do you currently feel is the most important market for BQX to take over first? I think we’ve said this before, its the United States. Why? All others avoid the US because they believe it is too risky, I don’t agree. If you solve for the US, this means you can operate pretty much anywhere. So, we solve for the US now ( Which we have!) and then concurrently role out in other Jurisdictions across Europe and Asia. I know there is a global strategy at hand, but what national market is most important to make the mark and or ensure long term success? See above.
Shingo, [15.09.17 22:58] I've seen at least 12 platforms that people are saying "doing something similar to bitquence". If we were the only ones trying to do what we are doing, I would be very worried! The fact that so many are trying to do stuff like this simply means that there is a very real market need for it. Competition is good and will motivate us to make the best product
stephen corliss, [14.09.17 13:19] [In reply to momo] Absolutely, competition is healthy. However, we have a significant advantage as we have visionary engineers and financial minds who know how to create something that nobody has seen before that can also withstand the highest degree of scrutiny. I wish I could find the words to explain how difficult it is to uncover the solutions we have found but I cannot as it requires much more space than is available to me here. Plus, why tip off everyone! let them figure it out for themselves after we become the biggest baddest platform on the street!
stephen corliss about competition, [08.09.17 16:13] Coinbase is not a good barometer for Bitquence, whether we're discussing technology, legal/regulatory structure, product / service quality and depth or customer service. If you can't even get customer service right, how can anything else be great? No worries all, the BQX Team understands all the critical elements required to deliver! Competition? What competition....! In my view, we are trailblazers. Sure, many will try and follow us or even try to interpret our vision and replicate it to beat us to market, but none will be able to do this with complete success. That's what drives us and focused is what we are!
[In reply to Bjorn: How does BQX not be a competitor of existing Exchanges Stephen if we can buy and trade coins on the BQX platform?]
Thanks Justin! Hi Bjorn! Let me first call your attention to page 7 in our latest Whitepaper. Here you will find how all of the various dynamic layers of the platform work in conjunction with one another. BQX powers everything on the platform and links the Platform Layer with the Liquidity Layer. BQX will represent the individual baskets which will hold diverse ccy's and coins where liquidity for the individual constituent ccy's/coins will be sourced via CCY and Coin Exchanges. (also eliminating counterparty risk) There are a lot more nuances here but this should give you more details. I likened this to what we did with exchange traded funds over 15 years ago where exchanges at the time felt unnecessarily threatened by ETF's as they thought it would hurt their businesses. In fact, it did exactly the opposite as they generated exponentially more trading volumes because of the many:1 design of index funds. In the end, what this delivers is a fully fungible diverse basket of ccy's/coins that delivers the full benefits of directly holding them while streamlining day to day transactions for users. Does this help at all? Again, this is why we help exchanges grow their business as it allows for "mass adoption".
stephen corliss, [03.09.17 15:51] [In reply to Z Davinci] All, We hear you 100%. Let me make one point reference competition. Competition will be and is a healthy thing for any industry as it provides options for consumers while also allowing consumers to choose the better service provider and technology. However, when building a model in an industry such as this one that has to align with a complex financial industry centuries old, most will either fail or miss the mark significantly. What we have right now is a classic "square peg round hole" situation where ONLY those with the necessary technical, business AND industry expertise will win. What I can share here is this, we've done all of the necessary work designing a comprehensive solution that can flourish in a highly fluid business environment, where most others will be confused and distracted. I've set up many financial firms in my life worldwide so this is not unchartered territory and we will do whatever is necessary to ensure BItquence can flourish. FOCUS, BE BOLD, BE FAST, BUILD AND DELIVER, it is as simple as that.
stephen corliss, [08.09.17 02:17] [In reply to Slim] First, I'm old school so lets start with a giant HA! Then, lets move on to calling bullsh1t! Clearly, they have no idea about what we are building, and more importantly, how one goes about doing it. Lets take those comment 1 by 1. 1) Its a lot like Prism and Iconomi? What? Prism essentially deploys a CFD type model where holders do not hold the underlying coins it is meant to track and thus users have no rights or benefits that may come with each coin. All they have is a bet that they can win or lose. This is more appropriate for heavy traders employing a hedge or wanting quick/simple artificial exposure. It also doesn't save much in transaction costs either, which contradicts one of the main benefits of a CFD, their usually cheap! I don't knock their product but it is a complete 180 from BQX. Now Iconomi is different but similar. Considering my years with Indexes and ETF's, I clearly appreciate what they are trying to do. However, again, I have access to yield generation capabilities (or not depending on market moves) but what do I actually own? ICNX and ICNP only, not the underlying coins. Is the DAA transportable? No. I can go on and on but it seems unnecessary. Especially considering that none of this considers the Universal Wallet and all its benefits. 2) You do not own the currencies, you own the keys? Wrong, you own both! 3) You are given est. prices and own the assets and compare to actual investments? Nope, you know prices (est and actual) and own the ccy's 4) We are going big and will hv hurdles? Sure, but we solved those already! 5) Bitquence is centralized? Ah, nope its not. 6) They hold the wallet? Nope! 7) They are the exchange? Nope, we deliver optimized price discovery, cost reduction and lessen market impact 8) 1% Fee? Maybe but not finalized, however, that would be a lot cheaper than anyone else by leaps and bounds! 9) Years for product introduction to US customers? Solved!
Okay, did I miss anything? The problem here, all, is that our peers like to say that they understand Shingo's vision, but in all do respect they really really don't. They are building interesting products but none are remotely close to BQX because our visions and motivations are vastly different. We can cohabit the same space as we service different clientele but the similarities begin and end with we occupy space in the same industry. Product differentiation is quite vast.
stephen corliss, [07.11.17 20:53] [In reply to Ke: Is it fair to say that the biggest target bitquence is going after right now is Coinbase? Is that the real competitor?] I wouldn’t call it that specifically. In the financial space there are 2 main groups, Buy Side (eg Blackrock) and Sell Side (Brokers/Exchanges). I believe Bitquence is on the Buy Side and Coinbase is on the Sell Side. So, they could service us as a liquidity provider. However, because of their model involving coin storage, we will have an impact on them as consumers begin to leave their assets in cold-storage. However, this dynamic could still be positive for Coinbase as Bitquence creates opportunities to deliver new product sets of which Coinbase could provide liquidity and possibly even custody.
POS
stephen corliss, [13.09.17 13:54] POS is rebranded to Bitquence Predictions as POS implies other things, although we share numerous simiilarities
Shingo, [23.10.17 18:50] We have changed predictions as a "reward only" system to avoid complex legal concerns
Shingo, [23.10.17 18:42] [In reply to Marco: will BQX hodlers generate profits just by hodling ? (similar to OMG, NEO,...)] I would be cautious of any "passive income" model that is uncleared by regulated bodies. As Stephen said, there are some structures that may work and others that don't. There isn't enough guidance in the industry right now to say for sure Chris Ryan: So all Proof of Stake coins are considered securities?]
Stephen: That will depend on the details. First question to ask is always, what are users doing to earn divs? The less substance there is the more likely a coin will be found to be a security.
Shingo: The jury is still out for me whether or not proof of stake is passive or active income. Masternodes to me seem to be able to be justified as "active income" since you are providing services to the network and getting compensated in return. In that sense you could say you are getting paid income by the organization. The way OMG describes their model is a "tollbooth on a busy highway". As Stephen always says "The devil is in the details". I wouldn't want to say anything here without proper due diligence. I am excited for what OMG is doing and think they have a lot very great minds working for them. I'm sure they are considering issues such as these
stephen corliss, [02.09.17 14:30] Good morning! Quick details on POS or what we now call Bitquence Predictions. First, the critical outcome from this service is high quality intelligent data, which you can think of as Consensus based research. This service is the first step as it builds a valuable data inventory that will feed into our Basket creation, risk management, asset allocation and other functionality. It also allows knowledgeable and successful users to establish and build their reputation and following on the platform. This was never intended to be a gambling service and be, as some say above, "the only value maker for BQX". This thinking is an incorrect interpretation and I hope this explains why. BQX value creation, as discussed in slightly earlier threads, is generated by what happens in the next phases of the project, which are the "transactional" based Baskets and Universal Wallet services where BQX is both 1) necessary as Gas and for transactions and storage 2) A constituent holding option in the basket 3) liquidity enabler for the Liquidity Network and The Universal Wallet. Now, there are a lot more details to think about when thinking about BQX value creation but each one of the above should provide the basis for that analysis. Hope this helps.
stephen corliss, [29.08.17 22:40] All, I want to be sure the entire community understands precisely how POS will work. First, as you all know, we have been doing a deep global analysis of our entire roadmap, vision, products and services. This strategic analysis is and will continue to be our guidebook for all related decisions. The analysis is premised on one large assumption, during the short and intermediate term Bitquence should not require financial related licenses (Unless it is mandatory) in any jurisdiction. As such, with regards to POS, we have completed the required analysis and in NO way will this service be considered gambling, investment or derivative related. Users will not surrender / pay anything of monetary value to participate in POS. Winners will benefit and be rewarded for providing essential data but this will not come from any other user who predicting incorrectly. We will share more information but the above statements should clear this issue up. We of course understand that some of the information put out by us may have lead to this confusion but we will revisit those materials in due time to ensure they are more precise. Thank you everyone!
stephen corliss, [28.09.17 14:51] [In reply to Yoyo: People would get free coins to keep coin in the wallet?] Lets stick to Predictions. In order to build the most powerful financial platform, it begins with intelligent data. The best or smartest data isn't traditional research or crowd-based data individually but collectively. So, we begin by building superior Intelligence by first having users provide predictions on coin performance over short and long term periods enriched with other social data created on the platform. To encourage use, we allow users to join the platform and begin predicting and participating in other social engagement. The more accurate you are, the more rewards users can obtain. The more followers users gain, the more rewards they obtain. This is unique content and when enriched with other traditional and non-traditional research, it is highly intelligent and significantly useful to users when making both passive and active coin decisions.
Shingo, [27.10.17 07:04] [In reply to Ab Alphabeta1: Any coin which provides some sort of dividends be considered security?] I think the distinction is more between passive and active income and income on investment versus income for services rendered. Any token that requires you to stake or use your token in some sort of process that benefits the network suggests to me that it is compensation for services rendered. That being said, line is really blurry and won't become clear until governments and regulators catch up and render a decision
Marketing
Shingo, [19.10.17 19:27] I want to clarify what we mean by marketing. What we will NOT be doing is buying ads, spending on search/video/interstitial etc. What we ARE doing is putting effort into nurturing our community and increasing our earned traffic. This means upgrading the brand, creating a PR plan, scheduling releases etc. Once we launch the product, we will begin to buy ads and push the marketing pedal. I believe that this is the right strategy and will help to develop this community organically
stephen corliss, [20.10.17 01:55] As I know you all know how we approach things by now, I would hope you all expect a slow dribble of news that all connects strategically. We have a lot of great things brewing and information will follow but only when the time is right. We don’t buy into the hole pump crap, so please just remember that we are extremely strategic and precise in everything we do.
Shingo, [16.11.17 20:03] [In reply to Steve Crypto: Do you plan to make another Dev Update video for those who are not part of the Product Council?] Maybe... I've answered this question a bit before. We want to release less high quality content. What will likely be the format going forward is: - ExplaineAnimated Product videos - Captain's Log - Thinkpieces - Blog
Shingo, [01.09.17 02:38] [In reply to EstimatedProphet: Shingo are there any strategic marketing techniques being aimed at the general public? I know you're targeting mass adoption, but what is the plan for reaching consumers outside of the Crypto community?] Lots of guerilla marketing. One of the initiatives we are working on right now is building a large library of content aimed at new users (courses, blog content, guides etc.) We are hoping that for many people, their first interaction with bitquence will be "how do I buy bitcoin" or "what is Bitcoin" We hope to serve the user over the course of their journey of discovery from learning about crypto, to becoming a social crypto trader
Shingo, [10.09.17 18:41] While we are developing the product, we want to be careful with the brand and marketing. There is no point in pushing out our message far and wide before we have anything to show people besides demo videos. Building a community organically is much more powerful than building an artificial community that doesn't care about the product
Shingo, [13.09.17 21:05] [In reply to Ke: Shingo...could you shed some light on how you and the team plan to get this out to the masses once the product is out? Do you plan for early adopters to be sophisticated types looking to enter a new asset class or do you plan on positioning the product as a new cool way for millenials to get a solid ROI through this beautiful tech solution? Or can you adequately market to both groups?] We don't quite want to tip our hand just yet, but our customer acquisition strategy is going to strategic partnerships and aggressive competition to market incumbents. Our strategy with exchanges has always been to get more people exposed to BQX and learning about it which is why we have been pushing for listings and why Binance was a great victory for us. The second part is aggressively going after different market sectors in the crypto industry and strategically taking market share. We anticipate that improved tools, guerilla marketing, enthusiastic community and solid promotional materials will make for a powerful combination as we enter the next phase of development
Shingo, [19.09.17 18:50] [In reply to Greg: It would be nice to put up dates on roadmap in white paper or in one of dev updates, to be official.] We don't want to promise something we can't fulfill. We try to hold true to everything we say publicly. Our PR motto is under promise and over deliver which typically leads to more happy people than the opposite
stephen corliss, [24.09.17 16:43] [In reply to M I H A I] Good day all. Marketing is absolutely critical. However, burning capital on marketing "too early" runs the risk of having a large CAC that will have significant negative results. Your points are not wrong but the right timing is essential
Shingo, [09.10.17 05:17] What I want to do is frame up some more of our ambitious thinking in a way that people can understand where we see all of this going but also while preserving our competitive advantages over others
Shingo, [13.10.17 20:58] Again - we are revamping our marketing efforts and part of that means putting together a cohesive plan and schedule. That means less in the short term, but I believe that it will be highly beneficial in the long term once we start executing to this plan. Instead of putting out mediocre marketing immediately, we are going to put out great marketing in due time.
stephen corliss, [20.10.17 14:15] The only things we will be protective of are those elements that allow us to maintain a competitive advantage and a leading position. Typically these will be strategic initiatives that we will need to keep top secret until making a big public reveal. This allows us to protect our first mover advantage and further differentiate ourselves from everyone else. We have a few big surprises already.. 😊
stephen corliss, [24.10.17 14:27] All, lets move on to more constructive topics. We have just hired a very talented Marketing Executive who is developing our short and long term strategy as we speak. The benefits of this change will be significant and be visible across all channels and methods so lets stay tuned. I’m quite excited as this has been a big missing component for us that is now ramping up!
submitted by Greeegi to Bitquence [link] [comments]

Exchange KuCoin, a comprehensive analysis of KuCoin Exchange. And KuCoin Shares

If you'll find this helpful, please sign up using my invitation link: https://www.kucoin.com/#/?r=E3sJ60
Quick disclosure, nothing in this article should be considered as financial advice, this is purely my opinion and my research alone, take it with a grain of salt.
It’s an up-and-coming cryptoexchange that is like an integration of COSS and Binance. The problem with COSS is that there is little incentive for investors to use it, the UI is lackluster, it lacks proper charting tools, the previous CEO was known to be part of pyramid schemes. Binance, a similar Hongkong exchange is something that we can also compare KCS to, the BNB token offers the utility to reduce fees, but again there’s little incentive to actually have BNB tokens are use the Binanance exchange. I elaborate further on the advantages the Kucoin will have over other exchanges.
Kucoin has similarities to COSS in that 50% of fees that they charge are returned to the holders of KCS everyday at 12am. Holders of KCS get access to other perks such as trading fee discounts similar to BNB, customer-service fast passes and more. I also need to highlight that the 100m that is being with-held for 4 years and 30m of which is locked up for 2 years belonging to the founders/investors respectively ARE NOT subject to the 50% re-compensation of fees which normal traders/investors earn. Which means that only the current 100m supply for the next 4 years is eligible to receive the dividends from KCS.
Kucoin has a long-term goal of becoming a decentralized exchange(DEX) or integrating as much of it as they possibly can within their ecosystem, a point that I’d really like to highlight is that recently there has been a lot of news/FUD around exchanges like Bittrex and Bitfinex banning users, Finex have already disabled US citizens access to trading on their platform, and Bittrex is a US exchange, so who knows when they’ll have to close their doors to US citizens, they’ve even gone so far as to ban people from middle-eastern nations, however decentralized exchanges are on-chain and there is no governance or need to store funds on centralized exchanges to risk being hacked, as well as lawmaking bodies having no jurisdiction over them. There are currently withdrawal limits on accounts but the developers will be removing those very shortly, Kucoin has extremely fast transfer times with lower amounts of confirmations for speedy deposit/withdrawal, low transaction fees of 0.1% with special events where some coins are free to trade, such as WTC/HSR as of now.
The user interface is amazing compared to most exchanges out there, they enable trading view charting which is much better for traders to use compared to charts such as on Bittrex or Binance which have a very limited selection of charting tools, there are some kinks on the website such as the orderbook, however I have had a talk with the developers and they said that they were looking for “more elegant ways” to display the orderbook than just a scrollbar, they were also looking into producing a nightmode which is a god-send for night-dwelling (night-traders).
The Kucoin team are extremely active and have nearly 24/7 support, you can go into their telegram and ask them any question and they’ll answer you hastily and earnestly.
They also have an invitation bonus which is as a referral compensation program, basically for every person that YOU invite, you get 20% of the trading fees of the person you invited as an INCOME, and then 12% of the trading fees of the people that they invite. (I know you think that this reeks of a pyramid-scheme, however, I need to highlight that the KCS team do NOT benefit at all from this referral program as they actually LOSE money if OTHER people/users are using these referrals.) It is an attempt to bring more volume and traffic, but traders/investors only stand to gain from this, we have absolutely nothing to lose, the more friends you invite the more income you can have. (Some people are calling this a pyramid scheme, however it’s simply a marketing tool, I brush up on this in the second half of the article)
Right now, KCS is flying under the radar, it hasn’t even been added to CMC yet (they are getting it added very soon) and once it does we do expect to see a lot of hype, there will be a very huge in-flux of traders who would come to the exchange, I see this as the death of COSS, no one will go back once they try out KCS.
Let’s talk about the valuation of KCS, currently there is 200m supply cap, eventually over a long period of time the KCS team will buyback KCS (optional to sell to them) with the profits made from trading fees to the burn the supply until there is only 100m left, don’t be alarmed by this, there won’t be a sudden supply restriction of 100m over one night, its something that will probably take a decade to achieve, if not even longer. Who knows for sure, right so moving on; KCS is currently valued at approximately $0.6USD at 200m supply thats around $54m USD market cap. It’s only been out for under a month and the ICO price was $0.3USD(5000 satoshis) or around there, so it has doubled and a medium-high marketcap of $54m but lets compare the price to Binance, which is currently $1.27 through all of the FUD/FOMO on Bitcoin/bitcoin gold/2x. Token supply of 200m like, similar to KCS, was valued at its peak approximately $2.58 per BNB reaching a total market cap of around $270m, and it doesn’t even have the same features as KCS. So, KCS is currently valued at $0.6USD, with all of its amazing features, team, dividend payout, referral program; I believe has the potential to grow even larger and maintain its price. If not more. I do see this as a huge long-term project, it’s the mainstream exchange killer, it’s like the oneplus versus Apple and Samsung, if we actually evaluate the coin and the Kucoin exchange itself within its ecosystem it has nearly unlimited potential.
One of the common misconceptions and concerns is that traders have is, is Kucoin a MLM/Pyramid scheme?
What we have here is one of the posters on their website promoting an invitation/referral compensation program. The initial impact of the image makes one think that it is a pyramid scheme, but if you actually look closely you’ll understand that in actual fact Kucoin themselves don’t really benefit at all, they’re giving 90% of all of their fees to the referee as compensation while they only take 10%. This isn’t a pyramid scheme or some shady MLM, it’s a marketing tool to attract more traders and liquidity to the market. The only people who really benefit are the traders.
Getting straight to the point, it has a picture of a pyramid, but it isn’t a pyramid scheme. I need to highlight that the referral system is completely optional, you don’t need to invite anyone or spam your link, I understand that it does get annoying for people. It is a marketing plan aimed at being a liquidity attraction tool to try to hook more traders into using the exchange, but people are so stigmatized to the shape of pyramids that they fail to see the truth behind the curtains.
I’d like to go through the business model and ecosystem of exchanges, and as objectively as I can compare the difference between each exchange.
So for this example I’ll use 3 exchanges:
A. Bittrex
B. Kucoin
C. GDAX
I’d like to make a fair evaluation of these exchanges based on three things.
  1. Trading fees
  2. User friendliness
  3. Trading tools.
First, some more assumptions Kucoin is still in its early stages of launching as an exchange, I’ve talked to the developers and they will be adding in “more elegant ways to see the orderbook” and stoploss/take profit systems.
5-point evaluation: very good, good, mediocre, bad, very bad.
A. 1. Mediocre-Bad (0.25%) 2. Good 3. Mediocre-good.
B. 1. Very good (0.1%) 2. Good 3. Good
C. 1. Mediocre-Bad (0.25%) 2. Good. 3. Mediocre
Some other underlying assumptions are that each exchange has the same amount of trading volume daily; $100m. Each have the same variety of coins listed.
Given that information, which exchange would you personally as a trader gravitate towards; try to be as subjective as possible. If my evaluations are wrong, let me know and I will amend them.
You would inherently choose B. Correct? There is a recurring argument that the token offers no utility, the truth in the fact is that very few tokens offers anything at all, BTC is simply a speculative asset with no intrinsic value, and that’s it. I haven’t introduced the token dynamic just yet, so hold up.
Going back to the MLM/Pyramid scheme aspect of it. For something to be a pyramid scheme it has to have an initial buy-in where the grunts at the bottom purchase a product, and it has to directly benefit the upper echelons id est the developers/the exchange.
Does Kucoin meet any of those requirements? Not really. The referral program doesn’t require anything, you don’t need to hold Kucoin to be eligible for the 20% of fees that you’re earning from people you invite. It’s completely optional with no buy in, no product to sell. You can just use the exchange, or even invite people to get the referral bonus, then forget about it, and as they trade on the exchange you earn a % of those transaction fees passively. In fact, the Kucoin team loses from this marketing. Because they’re essentially giving a cut of the fees which they should earn back to its traders. Bittrex/GDAX don’t offer anything at all, they simply take 100% of all fees they have and put it in their pockets.
To summarize:
A. Bittrex pockets all transaction fees it earns from traders on its exchange without any compensation to traders.
B. Kucoin offers an optional referral promotion whereby referees earn a % of fees that are incurred by the referred to the referee as compensation to help bring more liquidity to the exchange. This is actually detrimental to kucoin as they earn less income from transaction fees by giving it to the referees.
C. GDAX pockets all transaction fees it earns from traders on its exchange without any compensation to its traders.
If you believe that this statement is incorrect, or overly subjective please speak out.
Now, the issue with the token. Some people are saying that it has no utility; I’m going to prove that it does have utility.
A. Bittrex does not offer a utility token which reduces fees, or returns any portion of their income to traders. Of $100m trading volume they pocket $250K a day.
B. Of all Kucoin token holders, 50% of all transaction fees earned by the exchange are transferred nightly at 12AM to Kucoin token holders. Of $100m daily trading volume they pocket $50k, while the other $50k is transferred to its token holders.
C. GDAX does not offer a utility token which reduces fees, or returns any portion of their income to traders. Of $100m trading volume they pocket up to $250K a day.
If there’s a problem with my calculations, please let me know.
Now I need to ask, is there value in holding the token? It is a speculative asset, which provides utility in generating returns for the holders of the token on the exchange. As far as tokens/coins go I’m fairly certain that this token has utility, it doesn’t just offer a cut of the 50% of daily trading volume as income but can also act eventually as fee discounts similar to BNB, as well as simply holding it will grant you support-fast access(Give that their support team is already very fast, that’s something to consider).
There is also no inherent need for the token, Bittrex/GDAX are already largely successful even without utility tokens, so why is Kucoin going out of their way to even lose up to 50% of their income?
The answer lies in liquidity, and competition; the utility token, the referral compensation system, they are all liquidity attraction tools. Exchanges make money based off how much transaction fees they can incur through the amount of daily trading. How does a new exchange compete with big wigs like Bittrex/GDAX? These are huge giants who have been in the game for a long time, but they’re some-what obsolete. They’re greedy and only care about themselves, have horrible customer-service and poor communication within their community. Kucoin offers more than that, you can go talk to its active development team in their telegram, bombard them with any stupid question you like, and they will respond.
The token, the referral system are liquidity attraction tools, even if they only get 50% of all trading fees as income, if they can attract more liquidity than other exchanges and become competitive they can also be big, furthermore we as investors holding the token don’t lose anything at all, in fact we get a cut of the 50% of the trading fees they earn. I’ve already received my first dividend last night at 12am, it was basically nothing but that is considering that they only have a trading volume of $1.1m a day approximately, if not less. If that was $300m, the number of dividends anyone would get would be 3-fold.
What to take away from this; it seems like an MLM/Pyramid scheme on the surface, but the developers do not directly benefit from giving traders a huge cut of their profits, their main goal is liquidity and competition. The token value is also a long-term goal, I should reiterate that there is currently only a total supply of 200m which will over a course of a very long time will be reduced to 100m, but that will be a very long time from now, 100m of the current supply is locked up for 4 years for the team/2 for advisors. As well as, being locked up they aren’t eligible to receive any of the 50% cut of the trading fees until AFTER they are released.
I see this as potential big opportunity, purely because in the future I can see the possibility of this becoming a very competitive exchange within crypto-space. This is without a doubt a shill, I’m not partnered with them or anything, but I felt like I needed to clarify what a pyramid scheme is and the distinction between Kucoin’s marketing model and an actual MLM like Amway.
The dividend model (50% of trading fees are given to the KCS holders)
I’d like to also go through the dividend model, every night at UTC+8 12AM, they deposit directly into your wallet address your share of the 50% trading fees that they earned from transactions during the day. The current daily trading volume is around $1.1m, if Kucoin can achieve competitiveness and run up next to some of the biggest names; Bittrex with $350m daily trading volume, you can expect that all of the dividends you earn will go up 350x as well. I’d like to also point out that the more popular the coin is the more transactions there are thus; you are always earning income in the most popular coin, no matter what it may be.
More on the utility of Kucoin (White paper abstract)
To improve user involvement and exchange vitality, Kucoin is going to award incentive bonus, which equals to 50% of the total trading fees charged by the platform, to users who hold KCS in their accounts. Please note that this award proportion could be adjusted based on the actual situation in the future. The initial amount of KCS is 200 million among which 100 million owned by the team and angel investors would not be taken into account when calculating the bonus. In addition, we guarantee that at most 100 million KCS be calculated in the bonus plan during official buy-back and destruction. To obtain the daily bonus, users would need to deposit their KCS into Kucoin Platform. Then the platform will conduct accounting and award bonus based on to the KCS holdings in user’s account at 0:00 (UTC+8) that day and all the trading fees charged to the platform on the previous day.Then the bonus gained by users will directly put to their Kucoin accounts in the corresponding currency. For instance, If ETH-BTC cryptocurrency pair rate is 0.063 on the platform and the daily exchange volume is 30,000 BTC; based on the 0.1% rate from each side, the platform shall charge 30 BTC and 476 ETH as trading fees. The bonus for every 10,000 holdings would be 10,000 by 100,000,000 (0.01%). So that the daily bonus from this very cryptocurrency pair is 0.003 BTC and 0.0476 ETH (1 BTC and 17 ETH annually). Please note that this is ONLY the ETH-BTC exchange pair BONUS. Other than ETH-BTC, there are still various cryptocurrency pairs on the platform, which creates the trading fees in the corresponding currency and bonus based on the description above.
TRADING FEE DISCOUNT When placing orders to trade, holding a certain amount of KCS in Kucoin account can lower the trading fee. Details will be published through announcements. OTHER EXCLUSIVE RIGHTS When KCS holding reaches certain levels, users can enjoy special services like one-on-one investment consultation, customer service Fast-Pass, etc. 
Full transcript of my Q&A with the Operation Director Kent Li
Two concerns were put fourth by some of my readers;
How do we know that we are actually receiving the 50% that you are guaranteeing us? In the whitepaper it is stated that the 50% of trading fees traders on the platform will earn is subject to change, what is the reasoning behind this? Kent Li — Kucoin — Operation Director, [22.10.17 00:35] Firstly, the users are actually getting 50%. The trading volume of each pair is transparent, people can get the data from the web page or through our public API endpoints. So there’s nowhere to hide if we cheated on this, people can easily calculate their Kucoin Bonus based on the formula we described in the whitepaper. Kent Li — Kucoin — Operation Director, [22.10.17 00:39] Secondly, many people have discussed our referral system. The reason why we design is like what you have said, to attract more people to come trade on Kucoin. Because we’re new comers in this industry even in China, we have to do everything to attract new users and become competitive in the space, that’s why we share 90% of our trading fees to the users. We want to survive. And we are working our asses off to achieve this. USER, [22.10.17 01:15] Thanks for that clarification! I’d also like to inquire about the rate of dividends that investors earn, currently it is at 50% and in the whitepaper has been stated that it will be subject to change, how long is the 50% bonus going to last? Some of my readers had told me that it will only be for around 6 months, you intend on reducing the income as your exchange becomes more popular correct? USER, [22.10.17 01:16] Also, what is the purpose of the income page in the “Assets” menu, currently all fields are blank, what are your plans for that? Kent Li — Kucoin — Operation Director, [22.10.17 01:18] Hi, we do have a plan to reduce the ratio of Kucoin Bonus. It will stay at 50% for at least 6 months, and it will be adjusted gradually, eventually it will be 15% after two or three years. As you know building and maintaining a high volume exchange will cost a lot of money. “Income” currently contains the GAS reward if you hold NEO on Kucoin, Income is also passive revenue if users hold certain kind of asset on Kucoin. USER, [22.10.17 01:19] In regards to the calculation in the white paper, it may also be beneficial to have a dividends tab in the assets page to show users how their dividends are being earned and the calculation behind. (I understand that this is a lot of work, and you guys are extremely busy, these things definitely do not get done overnight so do not feel pressured at all) Kent Li — Kucoin — Operation Director, [22.10.17 01:20] Ah, actually we have a better plan Kent Li — Kucoin — Operation Director, [22.10.17 01:21] There will be a dashboard or report page for users, it will display their profolio on Kucoin, their daily gains & losses, sort of this kind of things USER, [22.10.17 01:21] Thank you for that clarification! I’d know like to move onto some suggestions from my readers on the exchange, talking to a great many traders, they all agree that the exchange is better than up to 80% of the exchanges available. It’s intuitive, innovative and user friendly. Some points that were brought up were; the non-existence of a “scroll bar” for the order book, which one of your other developers already said you were after more elegant solutions. Others would be including the placement of the chart, some people were saying that it was a little too small. USER, [22.10.17 01:22] If you would like to share any plans with me, I would love to include it in my article, and if you could retweet it or pin it on your twitter. I’m sure it will bring a lot of people piece of mind. USER, [22.10.17 01:24] It’s definitely understandable that making sudden changes to the UI of the exchange isn’t something to be done over a night, so I’ll definitely highlight that, I think this is just an important step in gaining the trust of the community. Kent Li — Kucoin — Operation Director, [22.10.17 01:25] Yeah, things have to done step by step 
If you found this helpful, please sign up using my invitation link: https://www.kucoin.com/#/?r=E3sJ60
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