Dec 21, 2019
Ask Me Anything with MBN.global CEO at tehMoonwalkeR’s Crypto Community: Summary
December 18th MBN Global held an Ask Me Anything session at tehMoonwalkeR’s Crypto Community. From MBN side, there was the Co-founder and CEO of MBN.global — Yuriy Gerasimov.
As you know, MBN platform or $MBN is moving closer to the Final Release of the platform which is scheduled for Jan 2020, so I expect many of you wondering what will happen next.
So in this AMA, I would like to cover all of the questions about the upcoming product release and share our development plans for the 2020 year. Also, there were a few updates on the staking side that brings new levels for token holders, so I would mention it also.
So first of all — what is the Final Platform Release?
The product is live for more than a year with our http://app.mbn.global
It’s been really well tested, we’ve gone through a year-long airdrop campaign for testing the platform, we’ve passed several security audits and had lots of crucial feedback from our real customers.
Right now we are in-field testing of the asset group technology and preparing to update our servers for better scalability. With that covered, we are finally shaping up the product and delivering ready to use Asset-Under-Management marketplace for crypto assets.
Here you can read a bit about our technological approach and what are the difference between us and competitors: wanna read more? Click here!
So this is what Final Release is about. Bringing the best and most reliable tool for the investors and asset managers out there. I think many of you are already excited about that, but I wanna enlight how it is organically evolving.
While working on MBN platform we saw many difficulties that traders, investors or managers face. The lack of transparency and lack of trust in the market is definitely a pain of the market. And moreover, we see the struggles that are around lack of liquidity. If you talk about top10 coins it is kinda okay, but going further the CMC we face the lack of liquidity for all of the altcoins. And yes, you can say it is different for some exchanges, some got the depth, but looking at the global picture, there is a big room to grow. Not even mentioning some alt-bags from early 17' that has simply no markets to sell out.
Going into 2020, we at MBN are aiming to also focus on the liquidity problems. It will start from adding various services to the MBN platform, that just helps the market to better utilize what we have now — I am talking about OTC deck for altcoins and DEX aggregation. I can’t really say that this would be a game-changer, but I see it is a foundation for the liquidity provider service. There were few that brought some protocol solutions for liquidity (Bancor, 0x), but they were highly related to their own token and that simply didn’t work. How do you wanna solve the issue of low-liquidity by linking it to another low-liquidity asset? In our vision, liquidity can be provided only by essential coins or stable-coins. The liquidity pools with the addition of DEX aggregation can be this solution, that will increase the liquidity massively. And the best thing, that it can be connected to centralized exchanges, bringing them in, because they benefit from extended liquidity share.
So that is the general vision on the development 2020. We aim to improve the product and bring additional services to the MBN platform as well as work on bigger market problems. The best thing is that it is not something unrealistic, it is a working product and can be used by casual traders and managers.
By the way, I would love to hear the feedback on the liquidity side, I would be a speaker at the technology conference this Friday and it is a great chance to discuss some in-depth problematic that is happening on the market.
Let’s get started!
Q: What is the platform?
A: MBN is a decentralized asset under management marketplace. We provide tools for traders and investors to safely cooperate in the trustless environment of the crypto market.
Q: What can you do with it?
A: You can trade with your own assets across multiple exchanges or trust them for a professional manager to receive passive income. There are other options for passive investments, such as staking with profits from 20% to 43% annually depending on the staking level.
Q: Why should everyone use it?
A: It is safe, it is transparent, it is convenient. Use it from PC or Moblie from any point in the world. Important to add, that the algorithm that we are using is built on Ethereum smart-contracts, providing the risk-management system for investors. The trading data is stored in the blockchain, so everything is transparent and all of the ROI information is verified.
Q: Can you go deeper into the token allocation?
A: The detailed token allocation can be found on the website. The amounts and the lock period are described here: https://mbn.global/token
Q: “ The liquidity pools with the addition of DEX aggregation can be this solution, that will increase the liquidity massively. And the best thing, that it can be connected to centralized exchanges, bringing them in, because they benefit from extended liquidity share”. Can you explain this in more detail, please?
A: The DEX aggregation is a tool that combines all of the DEX exchanges into one trading environment. The order books are collected in one place and the liquidity is shared. That’s number one.
So then we create liquidity pools — where people can lock funds for a certain monthly or annual rate. The funds can be utilized as the liquidity for the market pairs that are available through DEX. And by being connected to all of the dexes, we can spread the orders across all of them and have a lesser impact on the actual asset price.
Q: Who will be interested in Group Assets features the most?
A: This feature is most very important for asset managers. They can attract small size contracts from retail investors and group them into bigger contracts to operate them all with one click.
Q: Which exchanges will be compatible with MBN in the future? and which are now?
A: Right now we have connected the most popular ones — Binance, Huobi, and Bittrex. With the Final Release, we will finish our API standardization, which will allow to rapidly connect more exchanges. So we will catch up with the ones that the community is asking for — Kucoin, Bitmex, Bitfinex, Kraken and so on.
Q: How do you manage Max Loss in a contract? Do you use a stop-loss on all orders?
A: Great question and there’s a big difference between just a stop-loss order and the one is used in the contract. The contract max-loss is operated by the smart-contract risk management system. We track the order depth and the actual liquidity and in case of trader crossing the agreed Max-loss, the smart-contract terminates as failed and stops the access for the trading.
Q: From my understanding, you guys are actively gonna market MBN soon, were you already doing some marketing to promote the project? And how are you going to market the project furthermore?
A: Yeah, true, with the product ready and running the marketing just makes much more sense. One of the ideas we are using for customer acquisition events is Trading Competitions. It is a collab with exchanges and famous traders, in which people put money in the prize pool and then compete for it in trading. The first place gets the price and glory!
Q: MBN is already listed on any exchange? Or have you got aby plans to list that?
A: Yes, $MBN is presented on IDEX, Eterbase, Probit and ABCC exchanges.
Q: Most investors focus only on the token’s price in the short term instead of the real value of the project. Can you tell me the benefits of long-term investors for MBN?
A: Long term benefits are linked to product status and the development plan. Each update and the new feature will bring more utility and use cases for the token.
And if you find yourself a passive holder, who just don’t use the token and the platform, then you shall explore the staking program and buyback plan.
The staking has up to 43% annual rate in MBN tokens and it has payments in Ethereum, that come from the traders’ commission fees.
Please read those articles for full picture:
Q: Any plans to ever move away from eth? how will you handle scaling? are there other crypto industry solutions that could be interesting for MBN, like DAG or Oracles?
A: The scaling is mostly about the user base. We don’t face any issues with Ethereum transaction capacity. Thought the multi-blockchain usability is a good thing, so we would scale up in terms of supported chains. We would benefit from having a dec data provider like DAG, so let’s see if we could make our collaboration work.
Q: What are the benefits you bring to the exchange? Meanwhile, who can use it directly on that exchange?
A: For exchange, we bring volumes, liquidity and various services that are not available there. There is great mutual chemistry between us exchange and it will only get better with our development plans that I talked in the beginning.
Q: How often will trader selection happen like the one which runs currently?
A: This one is happening before the launch of the Community Operated Fund. We are selecting active traders with a good ROI to participate in it. By the way, this is an opportune as for traders and for investors, who wanna try themself in the asset under management.
Q: The API succession happens so many failures leading to the bad cases you have any plans or methods to protect yet?
A: Yeah, I understand what you mean. To solve that, we have as we called it the “sub API” system on our back-end. So the trader operates with our API protocol, which only then works with the exchange. We track the request-answer from an exchange and confirm that the order hits the market.
Q: Why has MBN with such a great use-case and running product only around 320k market cap? Where do you see yourself potentially by the end of 2020?
A: That’s a very on-point question. Because if we look at the projects around the market cap — the opposite situation is more often happening. No product and something like 10 million market cap.
In our case — the reason is clear. We’ve been developing the product from late 2017-early 2018 and we decided to postpone the ICO to provide the product first. Then the market fell massively and the was absolutely no point of having ICO. So we were developing the product on the almost dead market with no external funding. That limited our marketing so we found ourselves in this hidden gem status.
Q: What is your most current expectation in this industry? What are the bold plans for 2020?
A: Well, I would say my personal opinion on the market. We see a minor shift from retail to institutional. It happened because all of the retail investors are rekt and there is so much fud on the market these years that no fresh blood joined. So right now the industry is developing more in the b2b sector, and everybody waits for the newcomers like the TON network or Facebook. This will probably ignore the second round of retail madness
Thanks a lot! You need to know, that having that great community around is helping us very much. It’s an honor to deliver the best product for you guys!
I think it’s done for today, we covered lots of cool topics and shared many interesting details about $MBN. Have a good day everyone!
