CoinMetro AMA: January 8, 2022
Welcome to the return of the weekly Coinmetro AMA written summaries!
As we have expanded our team at Coinmetro, we are ready to begin creating much more content and delivering value to the cryptoverse! Coinmetro CEO, Kevin Murcko was live on Saturday answering questions from our community, and those lucky enough to find the link.
New Tokenomics for XCM – typical Kevin LEAK!
Coinmetro is currently planning to deploy an update which includes improved utility and value of our native tokens in the ecosystem. This includes a completely unique and unparalleled staking feature which will drive demand for XCM as it involves long term passive income opportunities for hodlers. We are additionally looking at vaulting/burning mechanisms for XCM which may be arriving in the very near future. These tokenomics upgrades will put XCM in a league of it’s own.
Coinmetro Group as an EMI agent
With the development of our own EMI license, Coinmetro Group will expand its services across Coinmetro OU, and newly formed Digital Fiat OU will play a major role in this! We will be able to broaden our offerings and begin introducing things like challenger banking services. Digital Fiat OU is going to help us provide services like IBANs, third-party transfers, etc.
Hiring new people
Our team is expanding every week. We are hiring new compliance people and there will be support on weekends. While we are onboarding thousands of new people a day and can scale, we expect more automation, even up to 90% in the near future. This will really support our growth and enable us to continue offering superior service.
New funding round Q3 2022
Coinmetro Group will be doing a new VC funding round in Q3 2022 that may potentially offer options for the community to get involved as well. A minimum amount of 25 million is expected to be raised, possibly 50 million or higher depending on its valuation.
Integration of additional stablecoins
We will get more stablecoin pairs like UST, once we integrate them into our ecosystem. kBTC and kETH hopefully coming soon.
KDA staking will happen soon
Once Kadena re-opens its bonding program, we can expect more KDA staking to return to Coinmetro. We saw huge success and have enabled thousands of clients to earn passive income with KDA.
VSP staking in our ecosystem
We are certainly looking to support VSP staking and expect progress inside in Q1/Q2, which may offer unique staking options for many assets.
Kevin to burn his own XCM?
“Would I burn most of my personal XCM? No.”
“Would I burn some of my personal XCM? Yes.”
“I would love to leave something to my family, to be able to support them.”
I am in the UK, what are my fiat deposit options?
If you want to make a deposit from the UK, choose EUR or GBP. Our USD services are limited to US residents and international wire transfers may cost you dearly.
Flux airdrop this month
The recent TRON and SOL FLUX airdrop should happen in January as our Head of Engineering is back from a short and well-earned vacation.
Starting and running a business
Kevin has a very clear vision for Coinmetro but it cannot be achieved alone, no amount of money or individual skills/knowledge can build an enormously successful company, here is what Kevin has to say…
Kevin’s market insights
Make sure you watch at least this section of the AMA on YouTube to hear Kevin’s insights about the crypto market. There has been some crazy price action in previous days and hopefully, this settles any nerves.
How do we decide whether to list something?
We don’t only list assets that we think will go to the moon! Though this helps, we mainly look for projects and teams we believe in and who are passionate about what they are doing. Another necessity is to enjoy working together. Our aim is to support our listings with everything from the standard joint marketing efforts on socials, retweets, etc., but we go far beyond that with collaboration to build real unique products delivering value and helping with the adoption of their project.
Millions of dollars of client money saved!
In recent weeks we have saved some clients millions of dollars. Our teams have protected unsuspecting victims of elaborate scammers who have been attempting to leverage our platform for fraud. We are proud to have a strong a responsive team who are able to mitigate the risk of both ourselves and importantly you and each of our clients.
Will the Margin collateral limit increase soon?
We will be raising the maximum Margin collateral limit eventually, with no limit at some point. We will introduce a new margin platform in Q1 which will be in our new design. It will also boast new features and once we release that version, it will start altering and/or removing these limits and pushing more improvements.
Does the stock-to-flow model apply to this market?
Stock-to-flow doesn’t make sense in crypto because most volume happens in synthetics, derivatives, etc. You are trading the price of the asset and not the actual asset. There is an infinite supply of potential liquidity inside the markets all the time.
Is ETH Staking coming to CM?
We have plans to provide ETH staking in the very near future. We are focused on setting up the infrastructure, if not actually launching the service in Q1!
Make sure to subscribe to our YouTube channel, so you never miss an AMA! Here is last week’s if you still have the urge to catch up, or even watch again!
See you next week on Friday 14th @ 13:00 UTC