AMA Summary 13 May, 2022

We hope you’re enjoying your weekend, Coinmetroids! In case you missed it, here’s a summary of Kevin Murcko’s AMA on Friday, May 13th, 2022.

Increase XCM burn?

We have an ongoing Tokenomics campaign and at some point it will include the increase of burn mechanics.

 Monthly CM revenues at the moment?

All exchanges currently have a 30-60% decrease in revenues due to the state of the market. Coinbase reported their Q1 numbers were way under expectations, causing their shares to plummet. The last two weeks we have seen the first uptick since the beginning of Q1. Lots of blood on the streets everywhere, not only crypto but stocks and bonds as well.

 Any updates to the Coinmetro’s User Interface?

Lots of ongoing updates, a lot of things in the pipeline. Not going to giveaway too much, you can poke Oliver on Telegram for some screenshots.

 Comments on the Luna fiasco?

It was flawed from the beginning. The idea that an asset can pay 20% simply on the fact that if it depegs we are going to print more of the risk asset doesn’t make sense because you devalue it and you need to print more. The movement to Bitcoin was interesting, however it didn’t relieve the flaw.

They should have had variable interest rates. They have printed so much Luna that it is worth less than air at the moment. I don’t think it was malicious on Terra’s side. I wouldn’t call it a ponzi. It falls into a flawed system that people trusted too much. Unfortunately, it is not going to be the last time we are going to see something like this.

 XCM staking 1st year plans ending in June this year, higher interest?

We don’t want to create a Luna fiasco and we need to be strategic so that it is sustainable for the long term. The goal is to increase the interest rates, but we need the mechanics to be able to do it and we are working towards the goal.

 “Leading experts have said that this is the beginning of the end of crypto”

This has been said before. One of the reasons I joined crypto is because I have felt there is a certain way of comradery. Even if selfish, there was benevolence in their selfishness, because they wanted everyone in the crypto space to do better so that they could do better. In this market it is normal that markets go down as much as they’ve gone down right now. I think that on average we will be seeing lower percentage averages. If we include Luna though, we can forget about it. The mean appears to be less than the last time we have seen a major correction across the board. There is more non-retail money right now. This is a market fueled by, in many ways, lots of passion.

 Can Luna cause trouble for Coinmetro if stables get hard regulation?

No, we haven’t been a lot into stablecoins, UST has been a recent addition. We are very much insulated from this.

 How much run way does the current private funding give?

Probably 14-16 months.

 Valuation of Coinbase too much?

Valuations are usually too high. If you are good at the game, your business will get a valuation that is too high. If you are bad at the game, your valuation will be too low.

Are we in a bear market?

This is definitely a correction and a deep one for some assets. Wouldn’t necessarily say we are in a bear market yet.

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