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I'm new to crypto!

AMA Summary 29 July, 2022

by Kamil S

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Another week in the books at Coinmetro! CEO Kevin Murcko goes live every Friday to hangout with the Coinmetro community, answer your questions, and discuss cryptocurrency & fintech news.

Here’s a recap from Friday, July 29th 2022:

Any news about DNA staking?

No update yet. But Kevin will be getting in touch with them very soon.

Progress on Backify integration?

The integration is mostly done and we are waiting on administrative stuff involving contracts, etc.

How are growth numbers looking?

New marketing pushes have begun on multiple platforms. Ads for app installs are live. More ads will be going live across Facebook, Twitter, TikTok, and more over the coming weeks.

We have already started to see increased signups and installs as a result of the new marketing efforts.

Is the bear market over?

Kevin isn’t a big fan of the term bear market and believes most are just major corrections. But at this time, he hasn’t seen much to show that this current dip/bear market/correction has come to an end.

That doesn’t mean you should necessarily short from here. But perhaps more so than going long.

Is cryptocurrency decoupling from traditional finance?

It will eventually, that’s inevitable. Has it done it already… it doesn’t look like it. There’s just simply not enough data and information to indicate this has happened.

Is Coinmetro marketing towards Americans given the SEC’s hostile stance on crypto?

Yes.

Any BizDev news?

A lot of it has been internal processes and partners to help us streamline and be more effective. Externally, there are a couple of things with Whaleroom and Backify. As well as a couple of merchant solutions we are working on. Kevin thinks Merchant Services is something to keep an eye on.

Any upcoming XCM tokenomics updates?

Yes! There’s an update coming that will further incentivize users to purchase XCM… as well as NOT sell it. There have also been some discussions about more creative solutions like burning your XCM in exchange for certain things.

How are efforts to reduce the sell wall coming along?

In just a couple of weeks, we have already seen tremendous progress on this front. And over the next few weeks, we will be doing even more work to remove some of those sell orders.

Will there be more tokens added to MARs?

The plan is to add staking for EVERY single asset listed on Coinmetro, and then add that to XCM’s Multi-Asset Rewards as well. So yes… many more are coming!

Is the Mexico office open yet?

Kevin was just there yesterday and it is pretty much ready to roll. Just a few last touches which will be done in a couple of weeks. Then we will be having a bit of a housewarming party to kick things off.

What are your favorite books? Any recommendations?

Kevin used to be an avid reader but doesn’t read as much anymore. One of the last books he read was called “Mexico” and it is a fictional book, with factual aspects.

Will Coinmetro introduce dollar cost averaging features?

DCA is coming! It’s in the roadmap and we have a few ideas on how to implement this.

Do you expect any centralized exchanges to go insolvent during this downturn?

Yes, I do. You’ll see some start to go under as liquidity and net outflows become a problem for those unprepared. We are in a much better position to succeed in the current market.

What’s a question you WISH someone would ask during your AMA’s?

“Well, this is actually one of the best questions I’ve ever had.”

Kevin wishes people would ask him questions that really make him move his brain around and articulate an answer. More in-depth questions are what he’s looking for.

Can you elaborate on the potential integration with Whaleroom?

Coinmetro would have our own “room” in SENTR3. We’ll continue to work closely with them using the swap widget. We love the team at Whaleroom and are excited to continue collaborating with them.

We’ll see you right back here next Friday! Subscribe to Coinmetro on YouTube & give the full AMA video a thumbs up!

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