Hey CoinMetro Passengers!
Hope you had your burning questions answered by CoinMetro CEO Kevin Murcko during this afternoon's Facebook AMA!
For your convenience, please see a brief summary of some of the points that were covered during the AMA.
Please don't hesitate to visit our
Telegram Community (now over 21,000 users strong!) and ask questions.
Enjoy!
COINMETRO NOTES
From the 4th May 2018 AMA on Facebook
* No announcements regarding partnerships. They are in the works.
* There have been some movements in devs. Transferred devs around, hired new ones. Changed the way that the functionality of the core exchange worked. This required changes. Can’t go live without a license in place. License in Estonia should be established by 13th May. Russian devs in town along with CTO.
* Shouldn’t affect vesting period
* A facebook live meeting is planned for once a week.
* Haven’t jumped into the US regulatory landscape yet. Wyoming as initial start.
* If SEC classifies crypto as future, no exchange for US without regulation.
* Regulatory roadmap will be revised (UK, Japan, Switzerland being looked at)
* Reg D 504 looks likely
* New Legal Team in the US
* Referral program will remain, the percentages are still being looked at.
* Will be having a talk with the Ripple guys
* Approximately 1st week of June for beta launch
* More feature are possible because of the delay
* Marketing hired new people, new director of Global Content, Alex- Julia with additional market information, Niels with Google Ads, Social Advertising, etc…
* iOS working on updates and ensuring that it’s ready to connect to the exchange.
* KYC is required for all
* 2 different e-money providers for €, USD - 2/3 banking application in process
* € most likely on launch, USD not so much
* Always looking for new talent- looking for talented developers
* The team wants to make sure that the projects on ICO Express are vetted, and receive the help they need to succeed
* No one knows for sure if Airdropped tokens for US contributors are fully legal at the time, so CoinMetro decided not to provide them for US contributors to prevent trouble down the road.
* ICO Express will allow people to create tokens
* They want to make sure the team creates a mature product that people want to use
* They’re still not back at the contribution rate they accepted XCM for on the sale.
* The team will hold on to a certain amount of funds in crypto.
* Patience is a virtue
* Commission on trade: Default 0.1 percent, 0.075 percent for contributors
* The approximately 30 days of delay shouldn’t affect vesting. It’s not an official announcement yet.
* 80 Support in Ukraine 10 in Mexico, 10 in Macedonia
* 4.5m EUR/year burn rate for building a business
* Debit card is still on schedule for July
* Kevin is pro regulation for companies in the crypto space.
* News on partnerships incoming
* Once they mint, they’ll list on CMC
* “Don’t make the mistake of equating supply, demand and liquidity to rise in price.”
* The main correlation for the rise of price in crypto is hype.
* Role of FXPig- has provided the initial staffing, is providing the initial tech, will provide liquidity in the future for certain types of assets depending on regulations.
* Team will use ChartIQ
* Team hires the best developers, no matter where they come from
* The team plans to offer as many crosses as possible, but they to avoid getting into synthetic areas.
* No such thing as fee-free.
* Success should be the result. The catalyst is that you’re doing things right.
* Putting on a foundation to go lobby regulators.
* Marketing will be ramped up.
* Until demand outpaces supply, it still doesn’t make that XCM be listed on other exchanges.
* Lots of partnerships currently in the work with tokens.
* XCM will be tradeable once the beta exchange launches in about 4 weeks
* Team will be setting up a careers page
* Not final renders, Sunday afternoon UI mockups
* Team has 10 people in the Estonia office, including Kevin
* There are 25 desks in the office.
