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CoinMetro AMA: December 11, 2020

News from the XCM Coin Development team on December 15, 2020

CoinMetro AMA Summary 11th December 2020

Would you give us a quick summary of the decision to raise the XCM price floor to three cents?

  • It was partially done as a thank you to so many loyal members of our community that regularly were buying at or below three cents for the last couple years.
  • It was also done in preparation for some new buying to come into the market from larger investors.

What will be the APY (Annual Percentage Yield) for staking XCM? And will this happen in December?

  • Staking of some sort should indeed happen in December. But XCM is not the very first asset on the list for staking. No specific numbers just yet.
  • But you could expect to stake other assets and get paid in XCM!

XCM floor price was changed, why don’t you revalue tier prices as well?

  • The floor price has never been correlated to tier prices/sizes. Tiers may very well be re-evaluated in the future, but at the moment Kevin believes they still fit pretty well

Sounds like recently we have had good news about funding. Can you elaborate?

  • In the last couple weeks the team has been serious discussions with current investors, and new investors brought in by those other investors.
  • They are making sure we have the funding we need going forward, as well as supporting the price of XCM!
  • There is a plan in place and money is being funneled.

Oliver mentioned in Telegram that you will have access to many hedge funds. Can you elaborate?

One of our shareholders has an intricate network that would provide that connection.

We have had this access for over a year now, but didn’t feel we were ready to open those talks just yet. BUT NOW… CoinMetro has a full ecosystem of products and we are ready to open discussions like that.

When will XCM be on TradingView?

Kevin is not familiar with the process for them. It would depend on their requirements.

What coins are you about to list?

You can buy and trade VXV on CoinMetro and we are off and running!

We have no particular order in listing other assets. It will depend on our communications with them and their needs.

Kevin gives an explanation of two things they are looking for in listing new assets.

  • (Boring stuff like legality, backend compatibility etc.)
  • Basic topical research to understand what the company does and the kind of people working for them.
  • Potential for price to rise to help our investors.

Is using a price floor close to market manipulation?

Things like breakers are put in place in markets all around the world to help ensure things behave in a natural way. In general it sounds like breakers are market manipulation too, but they are born from very real reasons.

Bring the XCM price down again Kevin! I don’t have 100k yet!

That definitely WOULD be price manipulation, sorry!

When you say big investors will “support the price of XCM”, do you mean they will be buying XCM to help the price rise?

Essentially, yes. They’ll be buying a lot of supply and supporting the price as well.

Can you advise on any potential liquidity of VXV on CoinMetro?

We are connecting them with a market maker hoping they will work together. There will be more discussions with their team to figure that out.

Why is your hair gone?

It has always been gone. Did he lose hair since last week?

Will XCM staking be combined with locked XCM? If I have locked 10k XCM, would I need to buy more to stake as well?

  • YES they will be combined!
  • The goal is that if you lock XCM, it will be staked as well.

Will there be more promo videos?

  • Hopefully yes! Kevin would love to do more.
  • Support that bond and we should see more things like that in the future.

More on funding: How long is the runway now? Will there be more allocated to marketing?

  • Hard to say exactly. But the bond selling out should provide about 2 million that we can use to extend the runway quite a bit.
  • But we do not know EXACTLY how and where the money will be used.
  • YES more money is ABSOLUTELY going to be devoted to marketing!

CoinMetro does not list USDT pairs. Is that due to the controversy behind it?

Exactly. Kevin sees how sketchy things are with Tether and puts a good portion of the blame in the crash of bitcoin on their printing of USDT out of thin air.

With VXV, are you targeting retail or institutional investors?

CoinMetro is retail front-facing. Doesn’t mean we won’t get or don’t want institutional money. We are gearing up to deal with institutional investors more.

  • Deeper liquidity
  • Legal Persons KYC in-house
  • + More

At some future point might the floor price of XCM be raised again?

  • It is not entirely out of the realm of possibilities. There are no plans for and Kevin doesn’t believe they’ll ever need to discuss it again.
  • There was internal discussion to tie price floor and liquidity based on CoinMetro’s performance and many factors within the ecosystem, so the floor would be set mechanically. We will see how that develops, only a discussion for now and many other items on the roadmap which take priority.

How is marketing going? Any traction for US ads?

  • Yes we are increasing the number of clients from the US everyday.

Why did the big investors not buy up XCM before the price floor went up?

  • They did not know the floor was moving.

What are your growth projections through 2023 based on? They seem optimistic.

  • If you take the historic revenues then they look optimistic, for sure.
  • There has really never been any money devoted to growth. We have been focused on building an impressive ecosystem of products. NOW there is money and NOW we are focusing on growth.
  • Something to remember is that CoinMetro has MORE means of revenue on our platform than most exchanges. We have several revenue streams.
  • If you look at where we were at the beginning of this year, those growth projections can be considered quite conservative!

Oliver also mentioned cross-marketing tools. Can you elaborate?

  • Banners/Widgets/Popups/”New” tags for example and subtle animations to catch the eye.

Are you planning to sell your KYC solution as its own product?

  • Absolutely. Ignium is the first customer.

When are more XCM pairings coming?

  • We want to create enough liquidity first. But as discussed in this AMA, we expect to see all of this coming soon.

How will XCM work with Tram?

You will be able to put it up for collateral. And you should be able to trade AND get staking rewards on it as well.

When is the new app updating? Affiliate page?

An interim version should happen next week. A full rollout is further away.

Early January should see the affiliate page updated.

When XCM 10 euro?

“Right after 9.99 probably.”

EOY projections for XCM, PRQ, & BTC?

  • XCM: No Comment
  • PRQ: Capitulation
  • BTC: Might see one more try upwards before capitulation.

Any new bonds coming in 2021?

  • A cool company that deals in genetics. A media company. A decentralized social media platform. Those are all in the works for early 2021

Source     #XCM Price

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