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[nixon99]

Hello, Azbit, you’re planning to create a financial ecosystem - your own bank, wallets, etc. But you set only $ 10 million for soft-cap, I mean that’s a pretty little.

We’ve already prepared to implement the crypto exchange and payment system. They are practically ready, 80-90%, as we already have the main software template - operating Bitsane crypto exchange. Therefore, we need a relatively modest sum of money to start.

[nixon99]

Hello, Azbit, you’re planning to create a financial ecosystem - your own bank, wallets, etc. But you set only $ 10 million for soft-cap, I mean that’s a pretty little.

Moreover - even if we don’t collect the planned soft cap, we’ll launch the main functionality of crypto exchange, based on the revised code of Bitsane.com.

[nixon99]

43 mln $ hard cap I think it is a little bit higher for your project.

A significant amount of collected funds (25%) will be used for ensuring liquid trade. Ensuring sufficient liquidity is a condition for exchanges and the ecosystem efficient functioning. 15% will be used to guarantee the authorized capital and deposits, another 10% - in reserve.
In fact, we set quite modest requirements for the investments. At the same time, even with a failure and uncollected soft-cap, we will still launch the first scheduled Azbit Global cryptocurrency exchange and the payment system - they are almost ready.

Are you planning to develop your ecosystem even with uncollected soft cap?

Yes, that's right!

[NetFreak199]

For the first time, I know about Azbit, which wants to implement a crypto exchange with built-in margin and algorithmic trading

[Golstrim]

So explain, please - if you don’t collect soft-cap, will you return money to investors? Do you have a smart contract for this, is it published on GitHub?

Originally, for a number of reasons, we didn’t plan to write a single smart contract. But following the results of communication with users and advisors, we’ve decided to create it after all - it will be published on GitHub.

By the way, how will it work?

[siggy]

So explain, please - if you don’t collect soft-cap, will you return money to investors? Do you have a smart contract for this, is it published on GitHub?

[nixon99]

So explain, please - if you don’t collect soft-cap, will you return money to investors? Do you have a smart contract for this, is it published on GitHub?

Originally, for a number of reasons, we didn’t plan to write a single smart contract. But following the results of communication with users and advisors, we’ve decided to create it after all - it will be published on GitHub.

By the way, how will it work?

According to the generally accepted scheme - the money will be frozen on a smart contract until the end of the ICO, if soft-cap is not collected –investors will get their money back.

[Alex077]

What solutions do you offer to minimize the risks?

[Sartrute]

Let's just get this straight - you haven’t implemented any of the announced services yet?

[nixon99]

What solutions do you offer to minimize the risks?

What risks do you mean? Speaking of the ICO risks - everything will be done over the blockchain using smart contracts. With regard to investment and trade risks, we’ll implement risk management at all interaction models and investors themselves set the extent of possible losses. Moreover, our platform security system will block traders’ accounts of abnormal behavior. For the most conservative investors, our product RAMM is relevant. In this model, money is not transferred to the trader, but a special new account is set up for copying the trader’s transactions.

[nixon99]

Let's just get this straight - you haven’t implemented any of the announced services yet?

You are not right. The exchange and payment system are practically ready and will be launched by all means, even if we do not collect soft cap. We have a functioning MVP- Bitsane.com exchange, which will also be Azbit's partner in payment and banking issues.

[Sartrute]

Let's just get this straight - you haven’t implemented any of the announced services yet?

You are not right. The exchange and payment system are practically ready and will be launched by all means, even if we do not collect soft cap. We have a functioning MVP- Bitsane.com exchange, which will also be Azbit's partner in payment and banking issues.

Do you have lawyers or programmers in the team? You are going to issue security-tokens and build an entire ecosystem. Where are the people who are able to provide this?

[nixon99]

Let's just get this straight - you haven’t implemented any of the announced services yet?

You are not right. The exchange and payment system are practically ready and will be launched by all means, even if we do not collect soft cap. We have a functioning MVP- Bitsane.com exchange, which will also be Azbit's partner in payment and banking issues.

Do you have lawyers or programmers in the team? You are going to issue security-tokens and build an entire ecosystem. Where are the people who are able to provide this?

You are right, there are no lawyers in our team - we use the services of Law & Trust International - https://lawstrust.com/. It would be presumptuous of us to get in this legal jungle of cryptocurrency regulation in Europe and the US, without strong legal support, so we appeal to professionals.
 
 As for programmers, they are our most valuable asset, but HR managers from other companies constantly hunt for them, so this department is the only one we do not widely cover, which is partly due to the NDA.

[CTO@MyBitMine]

Ok, let's say I bought AZS tokens. How will I get the promised dividends?

[nixon99]

Ok, let's say I bought AZS tokens. How will I get the promised dividends?

Each month 30% of the whole ecosystem profit will be distributed in the form of ETH coins among investors in accordance with the share of each investor.

[Sartrute]

Let's just get this straight - you haven’t implemented any of the announced services yet?

You are not right. The exchange and payment system are practically ready and will be launched by all means, even if we do not collect soft cap. We have a functioning MVP- Bitsane.com exchange, which will also be Azbit's partner in payment and banking issues.

Do you have lawyers or programmers in the team? You are going to issue security-tokens and build an entire ecosystem. Where are the people who are able to provide this?

You are right, there are no lawyers in our team - we use the services of Law & Trust International - https://lawstrust.com/. It would be presumptuous of us to get in this legal jungle of cryptocurrency regulation in Europe and the US, without strong legal support, so we appeal to professionals.
 
 As for programmers, they are our most valuable asset, but HR managers from other companies constantly hunt for them, so this department is the only one we do not widely cover, which is partly due to the NDA.

Ok Thanks for the prompt response.

[nixon99]

Let's just get this straight - you haven’t implemented any of the announced services yet?

You are not right. The exchange and payment system are practically ready and will be launched by all means, even if we do not collect soft cap. We have a functioning MVP- Bitsane.com exchange, which will also be Azbit's partner in payment and banking issues.

Do you have lawyers or programmers in the team? You are going to issue security-tokens and build an entire ecosystem. Where are the people who are able to provide this?

You are right, there are no lawyers in our team - we use the services of Law & Trust International - https://lawstrust.com/. It would be presumptuous of us to get in this legal jungle of cryptocurrency regulation in Europe and the US, without strong legal support, so we appeal to professionals.
 
 As for programmers, they are our most valuable asset, but HR managers from other companies constantly hunt for them, so this department is the only one we do not widely cover, which is partly due to the NDA.

Ok Thanks for the prompt response.

You are welcome!

[Sartrute]

And the last question. Does SEC regulate your activities? Do you negotiate with them?

[nixon99]

And the last question. Does SEC regulate your activities? Do you negotiate with them?

Not only the SEC - in Europe the circulation of security-tokens is also strictly regulated. And we’re striving to ensure that regulators in both Europe and the US won’t have any claims to any of the components of our ecosystem. And yes - we are negotiating with the SEC about registration of our tokens.

[Golstrim]

Who runs Azbit platform?