AMA Summary 22 July, 2022
by Kamil S
In case you missed Kevin’s AMA from last week, here are the highlights!
Talking with clients who have big XCM sell orders
There is an XCM sell wall and Coinmetro is reaching out to clients who have sell orders making up that wall. Kevin expects to see good amount of those sell orders removed to help improve liquidty and make it easier to buy/sell XCM.
Reducing sell pressure & strengthening the buy side of the book
Elaboration is indeed a word, Kevin. 😁
Although he can’t go into to much of it right now. But yes we will be working on several ways to incentivize, as well as de-incentivize for the sell side. Those will be unleashed in the coming weeks and we will continue to build from there.
Plans to work with Kaddex and MoK?
Kadena and Coinmetro have a long history together. Everybody is aware of the problems Kaddex had with the public sale. For now we are here to support the Kadena ecosystem in any way that we can. Coinmetro will be listing Kadena assets. So the door is not closed entirely with Kaddex.
What are the implications of an impending currency & banking crisis for the European middle class?
Adjustable rate mortgages (ARMs) will be hurting. Whether it happens now or in the future, it’s coming. Unfortunately, there isn’t a great way to mitigate that.
Kevin goes on a tangent that includes inflation, Arizona Iced Tea for $1, and his father.
So many new assets listed! Is Coinmetro still pursuing a “gem” policy?
Coinmetro will always pursue a “gem” policy.
That being said…. don’t just buy everything Coinmetro lists just because Coinmetro is listing it. We can, and have been, wrong.
We will continue to look for great projects to offer our users and always do our due diligence. However, we are working to list a bunch of mainstream tokens right now as well.
How is “DeFi” if I have to lock money on a centralized platform?
We do not advertise anything DeFi or decentralized.
When it comes to certain decentralized protocols and staking on Coinmetro, like Kadena or Ethereum for instance, our centralized platform gives users the opportunity to remove some barriers to entry into a more complex world of DeFi.
It takes certain skills, access to hardware/software, and also 32 ETH to run an Ethereum node. If your node goes offline, you get penalized. You need 50,000 Kadena for Bonding.
With Coinmetro we do the heavy lifting. We provide a simple, front-facing solution that can be done with just a few clicks. And even if you only have $20!
We are all about breaking down barriers and giving normal people access to these tools to grow their wealth. Additionally, they can have the peace of mind that if things gone wrong… we are there to help.
Are we in a bear market rally?
“There is no fundamental reason that crypto should be doing well right now.”
Kevin doesn’t think it’s the institutions that are buying right now. Just look at Elon Musk announcing Tesla sold off 75% of their Bitcoin. They had a responsibility to investors.
“I would be very cautious of doing anything on the buy side, to be honest.”
Will we be seeing other team members like Oliver doing interviews?
Kevin and Oliver will be doing Media Training in the UK this September. As time goes on, it makes sense that Oliver will be more visible.
Transactional push notifications?
Yes, more push notifications are coming over the next month.
Remember the old airdrop family?
We have not forgotten this. As we grow and continue to list more assets, this is something we will be able to implement.
Any update coming to the Invest Platform?
We’ve been doing some legal work behind the scenes to on this. That’s why you haven’t seen much of an update. But come November we expect to see more activity there.
What are your thoughts about the Coinbase insider trading case and the LCX token?
“I told you so!”
Kevin has some choice words for LCX. This is why XCM was never listed on any other exchanges. That would have opened it up to being classified as a security.
“There definitely needs to be smarter regulation in the US. You have all these three/four/five letter agencies that just don’t communicate to one another.”
How can you be sure new users will come during a bear market? What are Coinmetro’s growth projections?
All the big exchanges churn clients at a high rate. So during bear markets, they pull back. So there is actually less advertising for us to compete with at the moment.
We are fine with users going through Coinbase and Binance first. But then when they get frustrated or left in the dust by them, what do they do? They find Coinmetro.
“We are suited to grow in the bear market.”
Thanks for joining and we’ll see you on Friday! Please give the full video below a like and subscribe to the Coinmetro YouTube channel.
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