Dear Bitsdaq Community,
On June 28, 2019, Pro Blockchain and Bitsdaq Co-Founder Ricky Ng conducted a live AMA session on Youtube. Ricky and Pro Blockchain discussed many topics such as the IEO and exchange developments. A special thank you to our community for expressing their thoughts and feedback for us. Below is a summary of the AMA:
Question: Why did you decide to create an exchange?
-We decided to create an exchange since June of 2018, and have been working on our exchange for the last 6 months. After several months of research, we decided to have a partner that could provide patent support. And we decided to work with Bittrex because of the success of their Korean partner Upbit. So, we recognized this could be replicated in other regions. So, we ended up contacting them in regards to a partnership, and they actually were planning on targeting the Asian region for a partnership. And, we started planning with marketing strategies and opened our exchange in January.
Question: How many people are working on the exchange?
-We now have nearly 50 people. Half of them are in Bejjing who mainly specialize in engineering and product development because they were easier to recruit. Our business and monetization team is in Hong Kong, Singapore, US, and Canada. We recognized it was best to have our team in different areas to allow us to talk to different projects to list or do an IEO on our exchange. In fact, we are still growing. By the end of the year, we expect to have our staff to grow from 50-100% from now.
Question: Tell us about your exchange, what is it better than others?
-Our direction is very clear. We share the liquidity with Bittrex, so we already have volume which is very attractive to investors. We will also be inviting certain projects to do an IEO which will allow us to build even more traffic.
Question: Tell us about your exchange token of BQQQ.
-Our platform token is very similar to other exchange tokens. The token is used for VIP services, trading discounts, and investing into the IEO projects.
Question: What are you planning to implement in the near future?
-Besides the general features on an exchange, firstly, we’d like to position ourselves as a social and community based exchange. So, we’d like to work with projects to provide social media and marketing support. We are planning on introducing fiat solutions and derivatives in the second half of the year. Recently, we have been working on improving the user experience by introducing our mobile app.
Question: How do you select projects for IEO?
-We choose projects based on their previous funding through angel and private investors, and we use our very experienced due diligence team to find the projects best fit for our exchange.
Question: What projects will be next on IEO?
-Medilot is our first IEO, we have announced our next project listings afterwards.
Question: Why is the swap rate very low?
-We implemented BXBC to be used to try out our exchange rather than to be cashed out. We used this as a marketing material for people to learn about our exchange not to be dumped on our investors.
We would like to sincerely thank everyone who participated and for your continuous support towards Bitsdaq. If you have more questions about Bitsdaq, you can always message us on our Telegram channel or follow us on Twitter, and our team will be happy to assist you.
July 3rd, 2019