CoinMetro AMA: October 30, 2020
- All kinds of things but mostly focusing on marketing right now
- Building out documentation to share with larger investors
- Our Q4 roadmap is very full
- CM will provide quick fiat on/off ramps for sellers on Paxful’s dashboard. We should be able to pick up some of those sellers as well.
- Should come to fruition in the next couple weeks and partnership could be launched in Q1.
- Another debit card company is moving into Europe and will need to use our on/off ramps as well. But Kevin can’t give any more info on that yet.
- YES. You can see in the dashboard now there are reserved funds. You will have a time limit in which you will have to claim before they are forfeited.
- If you feel that some of your low risk investments are going to take a hit as a result of US election, pandemic, etc etc, then the bond would be a good place to go. Just sit back and collect interest and monitor company growth to sell or cash into XCM.
- If I had some money that I’m looking to place around crypto and some high risk investments with short term return… then I’m going XCM.
All depends on your situation. We are happy to provide options for both!
- 24 or 25. There are about 12 inside the office in Estonia, but hard to tell because of pandemic and people working from home.
- Could easily mean 10x volume in a potentially short amount of time from these two alone.
- More eyes on the exchange means more volume, means more fees and more burned XCM. The tokenomics of it all is easy.
- We are starting to look for more and more opportunities like this. Once you kick the first domino over… you know the rest.
- Kevin doesn’t see why they won’t land both of them, but is VERY confident that at least one will go through.
- When it goes live to everyone else on Tuesday, you will start to see them. Right now it is only open to our close-knit community & ICO contributors.
- The CoinMetro Merch Store isn’t integrated anywhere just yet. Whenever we talk about it, people purchase stuff. But it isn’t a priority right now. So not much at the moment, but we will start to integrate going forward.
- The Montenegro entities are CoinMetro & Ignium. CoinMetro provides the digital securities marketplace as well as the secondary market. Ignium Montenegro operates the settlement, the custody, & the creation of the asset.
- The issuers themselves are issues from Japan (BaseCamp) & Europe (CM Bond).
- Sandbox test is two years. Yes, we are looking to acquire what is likely an MTF license in order to operate beyond the two years. The bond raise will help us do that.
- More marketing. It has been on a low level so far. Finding what works, which channels are best for us, etc. We found some that worked quite well so when we spend more on those, that will start the snowball.
According to the roadmap, in November you will be able to onboard institutional clients & new partners. Would you give more insight on this?
- We are putting Institutional Account Opening online, as opposed to a manual process. So it will be a more simple process. As we are now focusing more on Biz Dev and attracting more partners/investors it is vital to be able to scale and handle the onboarding
- Everyone will get USD by SWIFT. Need to double check with the provider to see if there is any other period of testing.
- Kevin believes it will be done before the end of the year, but potentially much sooner.
- He “loves” questions like these. Yes it COULD. You could ask will volume be a gazillion bazillion majillion US franks? And he could say it could be. But that’s a stretch.
- Short term will not come close. But over time, tokenized market would be global vs the US stock market. So eventually could FAR outpace the current size of the US equities market.
- We could open another round, or sell them on the secondary market as well.
- Yep! Already did Tangible. Two more lined up and even more to come!
Does CM have huge debt? Is there a proper balance sheet/financial statement so we can track just like US stock markets have?
- We have no debt. The bond will be the only debt for the most part.
- We do end-of-year financials and yes they can be requested by shareholders. But the growth token holder is not a shareholder.
- Already started in small increments. Part of the reason for the bond is to boost marketing.
- Potentially. To be negative, they’d have to be priced lower.
- Kevin hasn’t seen any other crypto platforms doing it.
- No way! Kevin thinks that is like telling someone not to open a pizza place because Domino’s exists. It is early and that we started at the right time.
- It gets vaulted. Only because there is still some ambiguity with burning. We’ll keep vaulting until there is clarity that it is safe to burn legally.