Ask Me Anything at OKEx, MBN Global: Summary

November 19th MBN Global held an Ask Me Anything session at OKEx Official Russian Group. From MBN’s side, there was the Co-founder and CEO of — Yuriy Gerasimov.

Q: Hello Yuriy! According to our local tradition, tell us a little about yourself and about your project, please.
Good evening! A few words about myself and the company — my name is Yuriy, I am the CEO of the MBN Global ($MBN).

As a project, we have been in the cryptocurrency market for more than two and a half years. We are developing a decentralized ecosystem for asset management with various services for traders and investors.

Under the first release of the product, we received a grant from the US Venture Fund. Subsequently, we went through the so-called “crypto winter” when we worked on the product without any significant sources of external financing. No matter what, we have launched the public version of the product, conducted several listings and are now actively developing. The real story of a startup that doesn’t give up.

Q: Are there big risks of falling in the market now?
I would really be wary if someone said that he knows what the price of BTC will be or where the chart will go.

Objectively, we see the interest of large players in the industry and it will definitely develop further. In the future, we see several huge events — such as the BTC halving, the possible launch of a telegram network and the active development of ETH 2.0, which are likely to positively affect the price.

On the other hand, price manipulation is very beneficial for some players in the market, so we are definitely waiting for the swing. Summing up — there are significant medium-term risks of BTC falling before we will go up.

Q: How to make a profit during the fall of cryptocurrencies?
First of all, to adapt your earnings strategy to the current market situation, on your assets and goals.

For example, short positions or BTC accumulation through an exit to USDT are logical steps that bring profit in the fall.

If you yourself trade and it doesn’t work out very well (I think there are a lot of such people), then consider working with an asset manager with part of your deposit and compare the profitability.

If you act as an investor and consider a release period of several years, then we would recommend making regular purchases of the crypto for the same amount, this will reduce the average entry point.

Q: How do you feel about the latest news about hackers breaking into many investment companies? What universal tools does your project use to protect against this?
Yes, these are known risks. Probably the loudest example is the Satoshi Fund and the hacking of a Parity wallet. Moreover, the White Hat Hackers group managed to return (!!!) almost all the funds. I personally still do not understand how.

As for us, we primarily use the world’s best security standards, which include isolated microservices, access encryption and an internal sub-API level for providing access for asset management. All the main nodes of the system are made decentralized in order to function even in cases of attack. In the future, the transfer of all infrastructure to the protocol level.

As for the assets of users of our service — their funds are always in their account, in their wallet. All transactions are concluded through smart contracts. That’s how we provide security, reliability, and transparency of the service.

Q: Which partner would you like to work with in the future?
Exchange partner? — I bet there is only one allowed answer in this AMA :)

Speaking about partners in terms of technology, now we are working on several partnerships expanding the services we provide. I can’t disclose all the details so far, but it will be trading algorithms, fiat gateways, and additional payment systems.

Also, as I said, we plan to bring the entire infrastructure to the protocol. To do this, we either complete our contract system so that it works with the liquidity aggregator of decentralized exchanges (1inch), or integrates with Maker or Kava, which can help in solving the issue of distributed asset storage.

Q: What is the active number of MBN platform users per day? How actively do users use the MBN token to receive services on the platform?
At the moment we have more than 3,000 registrations, and about 300 active users. The token is now actively used to receive stacking awards and to pay for subscriptions to premium services.

By the way, there are several levels in the staking and for the second level, holders receive bonuses both in $ MBN tokens and in $ETH (ethers come from the income of COF traders)

Q: Why did you decide to create a token on the Ethereum platform, and not a blockchain?
The advantage of working on the Ethereum network is smart contracts and the ability to directly interact with other tokens of the ERC20 format or for example ERC721. This allows you to make a more complex architecture, as well as various cross-services that are more convenient for users.

Q: Why is the emission is 1 billion? Isn’t this a lot and will it not hinder the price increase?
: The emission figure is actually a relative value. It can be both 100 thousand and 100 billion.

The most important parameters for an objective assessment of an asset are capitalization based on the current circulation and future capitalization with full circulation. Knowing these figures, you can determine the growth potential.

Take, for example, the story now popular in the vast Russian Federation called Prizm. Mirror fork of the Nxt blockchain. The current capitalization is $ 200M. Functionality — you can make transactions. To make x10 you need to get around Chainlink, Tron and Binance Coin.

Comparing with the MBN platform. dApp on the ether blockchain. The current capitalization is $ 400k. Functionality — a working ecosystem for trust management on smart contracts. To make x10 you need to overtake the abandoned coins from the top500 +. Or x100 to the level of Stratic or Matic.

I think this is a sufficiently illustrative example to understand in what context emissions should be evaluated — only as part of the assessment of capitalization.

Q: Are you going to reward the best traders of your platform, if yes, how?
Of course, we invite traders to show themselves, so that we promote them and attract assets to them for management. Depending on their level of trading skills and their strategy use, there are different rewards.

Q: Are there any payment systems planned using MBN?
The internal $MBN token is already used as a payment method on the platform. A user-to-user functional is being developed for interaction between users and the use of a token as position security. The functionality of the token is quite extensive and this is probably the topic for a separate AMA session. If anyone is interested, I will answer in a separate order.

Q: What awaits us with the next updates?
In the release of this month, we are launching a function such as Group Asset, which allows traders to manage a group of contracts at once.

This is necessary to lower the entry threshold for retail investors, as well as give the trader a convenient tool for working with a large number of contracts.

We also launch an area for trading competitions and in the upcoming months, we are releasing the Final Product Launch. (we are currently in the public beta stage). So stay tuned for the big news!

Q: This was the last question for Yuriy, I’m afraid we are running out of time for our AMA, but you can visit our meeting in St. Petersburg this Friday and ask your question to Yuriy personally.

Meet CEO of MBN Global Yuriy Gerasimov at Okex talks. November 22, Saint Petersburg.

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