AMA with trade.io’s CEO (Part 3)
Posted by Xalat
on July 13, 2018
Q: Which coins will be listed on the exchange initially?
Initially it will be the basic, big coins, but then we will roll out a ton after, especially ERC20. Have a bunch of listings and ICO clients that will come out quickly as well. So at start:
BTC — Bitcoin BCH — Bitcoin Cash ETH- Ethereum LTC — Litecoin TIO — TradeToken
USDT — May be available right at launch or at the very least within 2–3 days following launch.
ERC20 — we are looking at rolling out maybe 200 as soon as possible, but priority is on listing clients and ICO clients.
EOS and XRP soon.
Q: When will the exchange support FIAT?
A: Soon, there is no regulatory issue, just want to scale into features.
Q: Will we have any kind of voting system for new coin listings? Can you tell us anything about your plans on how new listings will be done? Would TIO owners have any privileges over others?
A: We are not looking to limit coins by any means, just need a controlled process to roll them out.
Regulations and Jurisdictions
Q: Can you speak on the progress with regards to regulations in the various jurisdictions? Which jurisdictions is trade.io
currently focusing on, or which is top priority at the moment?
A: Working on HK, Singapore, Switzerland, Malta right now as the bigger ones. Smaller ones as well. We are meeting with regulators in the US as well.
Q: Are u also considering India?
A: India is unclear as to regulations right now.
Q: Will trade.io
move to comply with the SEC and other regulatory bodies worldwide as they ask for information on customer protections, etc?
A: Already started, meetings already happening. We will do what we can to eliminate insider trading, wash trading, bots, fake volumes, all the bad things that hurt customers and plague other exchanges.
Q: When is the new Road-map being published?
A: After exchange and LP launches.
Q: When will the LP fully launch? After 30 days of exchange? And the profit of the LP will count from the 1st day of exchange launch?
A: There is only a full version of LP, there is no beta version of LP. Profit starts immediately, LP will launch after 30 days i.e. profits start from next week at launch of the exchange. ICO consultancy revenues will be included regardless when exchange launches.
Q: Will there be something which tells the day’s profit with detail for transparency before LP launch?
A: There will be a LP distribution amount widget, but not promising that before LP launch.
Q: How much can we expect from LP daily payouts in the first month? Nothing at all? Something more than current airdrops program? Or much more than current airdrops?
A: The exchange needs to ramp and generate volume, then the LP will have meaningful distributions.
Q: There were some thoughts that the running costs would eat up the revenues that was already generated from consultancy arm that would left very few to be distributed. Could you tell us this is not the case? And in general, costs to be subtracted from LP is only direct costs that affects it, could you confirm that as well?
A: You mean operations? No that is covered from our 50%.
Q: After the exchange has been launched, how is the price movement of TIO expected to react? Do you not have any estimation for it?
A: Impossible to know, however, we are actively exploring moving TIO to exclusively be traded on trade.io
exchange and de-list from other exchanges, for more control over price manipulation.
Q: What’s the solution in the future to avoid something like Bitforex?
A: They picked us up on their own. It is impossible to prevent a supposed decentralized exchange from listing TIO
Q: What measures will be taken to boost the trading volume of TIO token after launch of exchange. With the LP, the volume might be very low as it is today?
A: If you look at the token economics of TIO, it is designed to be more like a Berkshire Hathaway than a high volume penny stock. The goal is to drive value, not volume. The more value we create, and with low float, this will be good for price.
Q: Will TIO be trade-able with other commodities listed under FX Primus ?
A: Most likely not, as its a crypto asset so it will be traded against other cryptos. trade.io
Q: What is the ETA for decentralized exchange?
A: There is no ETA at this time, we’re fully focused on making sure we have a flawless centralized exchange and execute on the liquidity pool.
Q: Will trade.io
offer margin trading?
A: We will. Working with risk management to get it structured.
Q: What about futures and options?
A: Talking to some vendors specifically about this as possible partners.
Q: Will trade.io
have algo trading?
A: Talking to a partner on that currently as well
Q: Why limit the launch to just 1000 initially?
A: The limitation to 1000 is not really for technology reasons, its more to allow customer support to get feet under them before we pummel them. It’s 1000 on Day 1, looking to open up to many thousands, within only a few days following launch. There is no level of training that can prepare support/finance, etc. once live users come through the door. This is not our first rodeo with running brokerages, so we understand its a completely different ballgame once the bright lights are on.
Q: What about Blossom wallet?
A: That wallet is under development, which makes it easier to participate in ICOs, have KYC, etc.
Q: Are MEW or other wallets going to be integrated in such a way as to make it possible to be able to participate in the LP without having them on the exchange? If this is actually possible that is. Will Private Keys be made available to the holders of the wallets in trade.io
A: Not sure on security on that. May be part of hybrid DEX solution. Also, transaction fees would be high, since every transaction would be recorded on BC, cant really use ledger. Not ideal overall.
Q: Will trade.io
place their own buy and sell orders to maintain liquidity?
A: We will keep risk low initially, but over time us and outside (institutional) providers will be doing this.
Q: What are the plans with FX Primus?
A: The current initiative with FXP, is to accept TIO as a deposit method, then eventually allow TIO to be traded on the platform.
Q: Are there any updates on the Angel Investors Program? What roles do Kosmos, Plutus VC and Blockway Capital play in the Angels Investors Program?
A: We are sending them deals to look at where they know we already did KYC, took a first pass, etc. They are also bring us deals to look at as well.
Q: Can u please tell us about the security measures taken for exchange. As these days many exchanges are being hacked even the so called best exchange i.e. Binance , Bancor etc.
A: We have in-house, outside team, Cloudflare, Fireeye, etc. To elaborate, virtually all client assets are kept in cold storage as well.
Q: Are there plans to provide insurance against hacking? If wallets get hacked is it guaranteed that owners will get all their tokens back? One suggestion is that part of the undistributed funds from the LP (due to tiers with percentages less than 100%) can be used to offer such insurance, If necessary…if not, could be retained by the company …Security is obviously of the utmost importance especially if trade.io
is targeting institutional investors. This insurance would bring extra peace of mind.
A: We are looking for answers on that, so I like the suggestion. Nothing definitive yet. We will explore insurance and other things, but same answer for all of crypto, there is nothing like FDIC yet.
join trading revolution.
join trade.io sign up here: https://trade.io/l/lb1x
This is a great tool for merchants who want to accept bitcoin/altcoins but prefer to cash out immediately to avoid market volatility. Supported exchanges: Binance; Bittrex; More coming soon! Cryptocurrency Donations Widget. Receive donations in any of the cryptocurrencies supported by MyCryptoCheckout. Generate a widget using our simple ... Bitcoin Widgets / Crypto Price Widgets Display bitcoin price or multiple virtual cryptocurrency coins like ethereum price, ripple price on your website using our label, card bitcoin widget anywhere with our embedded code. Bitcoin News Ticker Widget Plugin for WordPress. This plugin will allow you to display a news ticker widget on your website with the latest Bitcoin news. The plugin is 100% free and here are it’s features: Display an endless feed of updated Bitcoin news stories. Bitcoin news feed is updated daily. Get 43 bitcoin WordPress plugins on CodeCanyon. Buy bitcoin WordPress plugins from $7. All from our global community of web developers. The Bitcoin.com news widget Cryptocurrency Converter There are many third-party widgets that allow you to convert specific sums of cryptocurrency to fiat currency, or vice-versa, but Coinlib’s ... Today’s Brave desktop browser update (version 1.8) features the Binance widget, the first exchange-browser integration of its kind.Brave and Binance announced their integration on March 24, and until today a preview version of the widget was featured in Brave’s Nightly and Beta versions for testing. Brave’s browser currently has over 13.5 million monthly active users, and Binance is the ... We have put together this collection of over 30 different Bitcoin and Cryptocurrency related WordPress plugins for use on your website, we have listed free and premium plugins which will allow you to accept payments, display prices of currencies, tables of currency prices and so on. Well, the problem is now solved, here is the Binance sign-up link that actually works. I just setup my account without any problem and am already trading on it. For more details on cryptocurrencies and trading in the main-stream coins – Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) or Litecoin (LTC) – check this link out Le widget Binance comprendra diverses options, permettant aux utilisateurs de gérer les crypto-monnaies, y compris l’achat, le dépôt, le commerce et la visualisation des actifs. Les utilisateurs pourront également échanger les principales crypto-monnaies telles que Bitcoin, Ether, Litecoin et XRP, ainsi que toutes les autres crypto prises en charge par Binance. Get 40 cryptocurrency WordPress plugins on CodeCanyon. Buy cryptocurrency WordPress plugins from $7. All from our global community of web developers.
Binance Has Been Hacked Jumping on live to discuss what is going on with the Binance Bitcoin Hack! #Binance #Bitcoin #Hack. Firstly, thanks for watching I appreciate your support! In this video: Deposting Bitcoin to Your Binance Wallet Address. We go step by step and deposit Bitcoin to Binance Wallet Address. How to fund binance account. This video is unavailable. Watch Queue Queue Hey guys this is my guide on how to Buy Any CryptoCurrency and start trading! Link to Written Guide: https://howtocrypto.wordpress.com/ Step 1: Purchase BTC,... Bitcoin's Price is back to $5400. The market is shaking off the Tether FUD. Let's discuss and also take a look at BNB. Become a CryptosRus INSIDER to gain exclusive insight on the market, get ... Binance US Director of Business Development Rena Shah discusses the new updates on their end such as: - New website widget - OTC Trading Portal - Brave Browser partnership and integration ... Binance is an exchange that allows you to buy hundreds of cryptocurrencies using Bitcoin. This tutorial will show you how to deposit Bitcoin within and use it to buy all of your favorite ... Make Your Very Own Live Bitcoin Price Widget Under 2 Minutes Using Websocket ... WP Blog and Widget - WordPress Blog Widget Plugin - Duration: 7:09. WPOnlineSupport 17,150 views. 7:09. What is ... THE GATES HAVE BEEN OPENED TO BUY ZILLIQA ON BINANCE.US AND THE TELEGRAM GROUP IS A SAFE GUARD TO YOUR ZIL HERE IS WHY. https://www.kucoin.com/ucenter/signup... Binance.US - America's New Home for Digital Asset Trading. Get started in minutes once you set up an account with Binance.US to buy and sell cryptocurrencies. Binance.US brings you the trusted ...