Space Summary
The Twitter Space Crypto Astronaut Host AMA With THAT hosted by CryptoAs_TW. In this space, industry experts shared valuable insights on crypto business strategies, the benefits of affiliating with Binance, the impact of AMA sessions, and the effectiveness of giveaways and airdrops in promotions. Moreover, staying informed through Binance feed was highlighted as essential for success in the dynamic crypto industry. Participating in AMA sessions and utilizing promotional tactics like giveaways can significantly enhance visibility, credibility, and community engagement.
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Space Statistics
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Questions
Q: Why is understanding crypto business strategies important?
A: Success in the industry heavily relies on navigating the complexities of crypto business operations.
Q: What benefits can affiliation with Binance provide?
A: Networking, promotional opportunities, and exposure to a wide audience are key advantages.
Q: How can participating in AMA sessions benefit businesses?
A: AMA sessions enhance visibility, credibility, and community engagement.
Q: Why are giveaways and airdrops effective in crypto promotions?
A: These tactics drive audience engagement, loyalty, and growth.
Q: How does staying updated with Binance feed contribute to success?
A: Access to industry trends and opportunities is crucial for informed decision-making.
Highlights
Time: 00:15:42
Crypto Business Strategies Exploring practical approaches to thrive in the crypto business landscape.
Time: 00:25:19
Binance Affiliation Benefits Understanding the perks and opportunities associated with being affiliated with Binance.
Time: 00:35:10
AMA Session Impact The significance of engaging in AMA sessions for crypto businesses.
Time: 00:45:28
Giveaways and Airdrops How these tactics can drive audience engagement and retention.
Time: 00:55:16
Binance Feed Importance The role of staying informed through Binance feed for industry success.
Key Takeaways
- Understanding crypto business intricacies and strategies is crucial for success in the industry.
- Affiliation with Binance can offer valuable networking and promotional opportunities.
- Engaging in AMA sessions can boost visibility and credibility within the crypto community.
- Leveraging giveaways and airdrops can attract and retain a dedicated audience.
- Stay updated with Binance feed to remain informed about industry trends and opportunities.
Behind the Mic
Introduction and Greetings
It. Hello? Hello, Shramanjai. Yeah, yeah, I got you. Okay. Okay. I can see here our honor speaker Bailey. Yes, hello. Yeah, how are you today? Good, how are you? Yeah, I'm also good. Thank you for having here, actually. So just wait one or two more minutes for a few people, I think. Then we can start our email. Cool, cool. Okay, thank you. Okay, I think we can kick off our immunization, but people, you can invite your friends and family to be here, actually.
Introduction of the Topic
So thank you, crypto astronaut community for hosting this amazing Amazon with that coin. I can see that is that coin is a primary layer, one blockchain cryptocurrency designed to become the world first primary and the borderless medium of exchange, actually. So we'll know more from like, to the same. Nori, you just need to stay tuned. So I'd like to invite our speaker Bailey from that coin. So could you please just introduce yourself? First of all, like, how do you connect this project? And could you share a bit about your experience in the crypto industry?
Speaker Introduction
Yes, yes. I'm the founder, CEO of the company. My background is in tech. Been programming and doing other projects before getting into crypto. I've been into crypto now for about ten years, but developing for about four. And yeah, we started this project about two years ago. Okay. Yeah, thank you. Happy to know about this. Like your founder right now, so wish you good luck for the future. So, yeah, as far I know, yeah. Like that is fundamentally designed to support and enhance the global trade through a secure, credible and distributed blockchain.
Discussing the Features of the Coin
So I just want to know more detail, like what specific features of that coin make it more suitable for the real world transitions compared to the mainstream cryptocurrencies, like the bitcoin or ethereum. Yeah, yeah. So just touching on those two, I guess, like, bitcoin, as you know, is slow and expensive. And Ethereum, while it's not as slow as bitcoin, it's also expensive, so it makes them not so suitable for the kind of transactions we're trying to bring cryptocurrency into the norm on which is everyday spending.
Transaction Challenges in Cryptocurrencies
You can't buy small ticket items on high frequency transactions with high expensive fees. I believe there's others out there that have failed to execute mostly on the real world utility rather than the blockchain spaces in solving some of the issues. So you've got ones that are not so expensive and not so slow. But the problem, I believe, is that these other projects are failing to execute on real world utility because blockchain and cryptocurrency alone does not offer a full payment solution. It's much more than that.
Value and Support
Okay. Okay. Yeah, got it. Thank you for explaining complaining about this. Yeah. So like I can say that provides a genuine in strict value and the foster the widespread option businesses and the merchant in their ecosystem will accept that as a payment for the good and services that is ensuring the particularly an ongoing support so far. So thank you once again. So like how does that coin facilitate the local transition? Actually, like if I talk about for the Ethereum and also other exchanges, like they're putting, I can say the high cost, like how to do that actually.
Comparison with Traditional Payment Methods
And also how does it compare to the traditional fiat transitions in terms of the fees and processing the times. Yeah, so that. Sorry, just. Yep, my mic still on. That is actually supported by its own layer one blockchain. It's a hybrid proof of authority and proof of stake blockchain. That's the way that the nodes work. And what this means is from a blockchain perspective, the network is fast, it has instant finality, it is very cheap and it is secure.
Efficient Payment Solutions
So this is what we need from a blockchain perspective to support real world payments. People need to be able to buy things with low fees. It needs to be fast. And in regards to fees, it's less than a century, I guess is the easiest way to put it when you pay for something. So it's natural to the real world user. But yeah, that's the main thing there. Okay. Yeah. Thank you. Thank you.
Addressing Issues and Solutions
And also, like, I can see in your white paper, like you're trying to solve so many issues, like I can sit trust and transparency, she spending cryptocurrency, selling cryptocurrency, the taxes and everything. So people just, you can check out their website, like if want to learn more about the dead coin. So in what ways that your dead coin achieve the widespread margin recognition and also what steps are being taken to increase the more business and also to accept it as a payment, like what kind of activities you have taken actually.
Business Strategies and Implementation
Yes. Yes. So this is where the business side of the project really comes in. And the application layer supporting that is a lot of where the magic really happens. And so we've developed what we believe will be the most merchant friendly application on the market for crypto and likewise for the user. So within the app, you'll be able to browse the businesses that are accepting that as a payment method natively. You'll be able to go in there and make payments and for the merchant, we've built the same for them to make it very simple.
User and Merchant Experience
They can monitor the transactions coming through on their side. As a business owner, you can use the products that we have as well to promote yourself as a business in the crypto space. And so this is attractive to them. And just, I think your question was also, how are we achieving the widespread adoption? So we have like a sales strategy in place for this. We've already done a test pilot in like a beta version here in Australia, we had 13,000 beta users and I, a couple of hundred businesses jump on the beta pilot that we did.
Pilot Success and Future Rollout
And so they were very happy with our application and our product overall. And so now when we're rolling out the mainnet just a few weeks ago, we are now. So we've actually just rolled out onto a centralized exchange last week. So we're just launching all of the pieces that we need now to then roll the app out. In a few weeks. It's going to be about three to four weeks time, and then when that comes out, people are about to start browsing and checking it out.
Future Availability and Vision
Okay, yeah, got it. Thank you. So, yeah, I can select that is a digital currency used like on a native blockchain. And also their vision is too much clear, like, to empower the individuals worldwide through a globally accessible and usable cryptocurrency, actually. So I can say it's becoming the most trusted, reliable and usable cryptocurrency for a better understanding. Like, you can just guys, check out their everything.
Merchant Acceptance and Limitations
So thank you once again, Bailey, for explaining this question, actually. And also, how does your debt coin manage to break the spending limitations that are often associated with the mainstream cryptocurrencies? Yes. So here's ultimately where the, again, coming back to that app is, where that merchant directory is key. So when the merchants basically opt in to accept that payments, they show up in a singular place where it makes it really easy for you to find those merchants and shop at them.
Enhancing Merchant Ecosystem
Right now, if you look at cryptocurrencies out there, they basically don't have any merchants. And so, and it's very hard to find anywhere you can spend any of your cryptocurrencies on food or trades and anything that you need throughout the week. It's hard to find that native merchant acceptance. And so for using the application, we will be driving that merchant ecosystem and growing it continuously, but you'll be able to easily, from the app, just see where the merchants are, which ones are on board, and where you can start shopping.
Initial Interactions
Straight away as they come on. Okay. Okay. Yeah. Thank you once again. And also, like, I can see you have your native coin. That is that coin. So may I know about some utilities of your coin actually? Like, where can people buy? And also what can people do with your coin actually in your ecosystem? Or can they, I can say that, like, buying any kinds of things or any, can they purchase with your token in any countries? Is that possible? Like could you share regarding to like, all associated utilities?
Understanding the Coin Utilities
Yes. So we have, that is also bridgeable. So it's also on the Polygon network, where people often trade it. It's also another low cost network, as most people would know. And so over there, you can acquire the coin on Uniswap, on the DeX, and it's also on the centralized exchange coin store already, and it's coming on to more soon. So that's where you can find the token. It is bridgeable back to the, that network on the, that network is where the merchants actually accept payments for the currency. And being able to bridge it between networks is really opening it up to any kind of decentralized finance applications on the other networks as well.
Focusing on Merchant Adoption
And so we're rolling out more bridging support for the token over time, but our focus really is on that real world spendability. And so again, our drive is getting merchants on board. Our strategy here is to dominate city by city, mostly capital cities initially, and concentrate the spendability in each area we will target. We're going to be targeting australian cities immediately, but we will be coming international very soon, and throughout, mostly throughout next year into all the main capital cities. So we look forward to being everywhere globally. We believe that people should be able to hold one currency in their wallet and be able to travel anywhere and be able to spend it, and not worry about currency conversions and all the headaches associated with typical travel and dealing with finance.
Supporting the Project's Vision
Okay. Yeah. Wish you good luck for the future, actually. So, yeah, people you can access, I think in future you can access their coin, their token everywhere. So, yeah, like, I can say that is the bridging, the gap between the crypto and ownership and every crypto users, like, I can say they are currently an estimated like 320 million people invested in the cryptocurrency worldwide. You know, so I can say, like, you can join that coin, they have a lot of utilities for you where you can make your money and everything.
Ensuring Security in the Network
So, Bailey, just talk about your security, I think, which is very important, like, when you are looking for a secure projects. So could you share, like, what mechanisms are in place within the dead coins network to ensure the first, the borderless transitions while maintaining the security and reliability? Yeah, I think when it comes to cryptocurrency and blockchain tech in general, security is a given. You can't really shortcut or skip anything in that regard. Our consensus mechanism is for our network is extremely secure uses, like I said, proof of authority, hybrid proof of stake.
Establishing Trust with Merchants
It means that we can identify the identity of every person running a node initially. And as the community grows and more people are staking coins to join the network, there will also be that in place from the merchant point of view as well. This brings a lot of trust to our currency as more merchants are joining and accepting it as a payment method. As people see that our currency is and our advertising is within businesses that they trust, this will continue to drive, I guess, intrinsic value for the coin as well. And I guess even if the coin itself is extremely secure, but it has no intrinsic value, meaning it's kind of got made up value, nothing really backing it, then all the security is fine, but the value of your wallet can crash to zero.
The Importance of Real-World Application
And so with us, with real world merchants jumping on board and continually growing that side of the project and people going into, you know, dine in at a restaurant and seeing on the window that says, we accept that. And when you go to pay at the counter, it says, we accept that. And people constantly being introduced to it through the merchants and checking us out, there will be the value of the currency wherever it's actually backed indirectly, but technically by those merchants that are jumping on board. Yes, definitely.
Navigating Challenges in Cryptocurrency
So I think like people you may heard about that is the many emerging cryptocurrency project like the lake transparency and fail to deliver on their promises, like making it very difficult for the businesses and owner to trust and use their technology. But I think in that prospect, that is very different. Like that will lead and support its adoption, that will complete transparency, striving to be a digital currency known for under promising. And also they had their team, they are working behind this project. No worry. And also they will inherently build trust in their customers and foster widespread adaption.
Building Partnerships for Global Reach
So don't worry about their security system. You can join, you can invite your friends and family, be part of this project. Thank you. Okay, so let's talk about your partnership, I think, which is very important sometimes, like when, like especially these kind of projects, like when you want to make it global, actually. So what do you share? Do you have any kind of partners or what kind of facilities that you are getting from this kind of partners, actually, yes. I'd say that the biggest partners that we have is not the payment facilities, but the merchants themselves, because we do not actually pass through any payments, third party payment providers.
Leveraging Merchant Relationships
When someone makes a payment, that's actually the beauty of our project, is that when you pay for something, the merchant is actually accepting the currency directly as that currency. And so you don't have to give up some of the benefits, like, you know, going through KYC protocols, going through exchanges or exchange gateways with a Visa card, who then convert your crypto to cash in real time to make payments and anything like that. But our business partnerships is the biggest partnership for us, and that will be continually growing, and we've got hundreds that we're launching with, and then we'll grow into thousands, tens of thousands and beyond.
Additional Partnerships for Growth
So to name all of those would be too many. We've also got, of course, our web three partnerships, like Kaleido, who he's rolling out the bridging stuff with us, Block scout, who hosts our block explorer. All of the different integrations and projects that we work with to make the project easier to access and enhance its utility overall as well. But overall, the most important partnership we have is the businesses and continuing to partner with more.
Preparing for Audience Engagement
Okay, thank you for explaining about their partnership plan and program. So thank you once again. So, people, get ready with your best question. Like, if you have anything else, like, just make your own research from their website. And also, then if you have any questions, just get ready. So how does that coin balance, actually, its role as a real world transitional currency and the decentralized, like, I can see the permissionless nature of the blockchain technology.
Balancing Benefits of Cryptocurrency and Fiat
Yes. Yeah. So interesting question. I think the focus here for us is to bring the benefits of both worlds together. That's ultimately what we're trying to do. You've got the benefits of crypto, which we're not trying to neglect. You know, the decentralization and the, you know, the crypto benefits that are already there. So we're not trying to neglect those. You've also got the biggest advantage of fiat currency or government issued currencies, which is spendability. You can in any go, like, any location you are in the world, whether it's the United States, Europe, Australia, or anywhere else.
Merging Currency Benefits
If you go into a store with the government issued currency, you can be sure that you can buy something. And so we're trying to merge that huge benefit with cryptocurrency benefits. We want the decentralized cryptocurrency enhancements with the spendability of fiat currency. We believe that if we merge, that it will be the best currency that the world has ever been able to adopt. And so this is the primary focus that we're targeting and we're executing a business strategy on this, rather than trying to focus on enhancing just the blockchain technological side or vice versa, neglecting that to focus on, you know, some of the other side of the coin as well, and forgetting about things like decentralization and being a centralized currency.
Fostering Community Engagement
Of course, we want to make sure that we grow the web three community. We get other people inspired about the project and hosting and running nodes and all of those other things in that space on that side as well. Okay. Yeah. Thank you once again. So people, their website is that website. You can just take this out, you'll find their, like, how to purchase their token. If you have any questions, you can see their website.
Ensuring Liquidity in the Market
Actually, you can see their Polygon address, you can purchase from there. Nori, thank you once again. And also like, you know, like, when you're trying to make this kind of projects, you must have concern about the liquidity, which is very important, like what strategies are being employed to ensure that coins liquidity and ease of the conversation, that is conversion between the fiat currencies and other cryptocurrencies. Yeah. For us, we're really focusing on a high liquidity to market cap ratio.
Maintaining Currency Stability
We want the coin to be as stable as possible over time, because we got merchants that are going to be accepting it as payment, and they can't. They can't accept a currency that's losing value rapidly or volatile for them. They need to be able to know that they're storing that value temporarily in a currency, whether it's temporarily or permanent, should I say, needs to be stable. And so our strategy is to continually add to the liquidity and create as much support for the coin as possible over time.
Investment in Liquidity
We have a plan for this. We will continue to, just as the business is growing and the application side of our ecosystem is actually another business model in itself, which is actually going to generate a lot of funds for the company. And we will be investing a lot into providing extra liquidity, mostly by backing the coin with more depth in the USDC, in the DEX, for example, or on the exchanges that supports the value of the currency. I actually just got a notification that we've just hit an all time high on the trading of our currency during this call.
Positive Market Trends
It kind of happened on the last AMA we did, which is probably expected.
Stability of the Coin
But yeah, we're looking to continually add to the stability of the coin in itself. Okay. Yeah. Thank you once again, Bailey. So, moving to the next question, actually, just. I have two questions left. After that, I will take some questions from the community. So, people, listen carefully and make your own research. Then, if you have any questions about the debt coin, you can ask no worry, Bell will answer your question. Definitely.
Advantages of Debt Coin
So how does your debt coin bring the primary advantages of government issued currencies to the blockchain? And what does this mean for the future? Cryptocurrency adoption. Yeah. Yeah. In simple terms, we're making cryptocurrency spendable, so you're not going to need to worry about going back to your government issued currency. If you believe in crypto as the future, you're going to want to be able to spend it, you're going to be able to utilize it in the real world. And so we're bringing that to crypto. And what it means in the future is for you, if you're using that as a currency, you will not need to hold a multitude of currencies.
Utilization of the Currency
And through our app, we already support the ability. This will be rolling out soon, I should reiterate, but it will support the ability to swap from any other cryptocurrency directly to that as well. So then you can then utilize it, spend it with merchants. But this is what we're ultimately bringing to crypto. Hey, crypto astronaut, could you please meet your mic? Crypto astronaut. Yeah, go ahead. Sorry for this, Bailey. No, no, that's fine. And so I think that's. That's really all I would say on that, is that we're bringing spendability to crypto through this project. And if you believe in that and that vision, then that's what we're bringing you.
Transaction with Merchants
We're bringing you a cryptocurrency. You about to go into a merchant or into a restaurant or retail, and actually buy the items you want to buy with merchants that don't steer away from your crypto, but actually accept this as a real payment method. Okay. Yeah. Thank you for the clarification once again. And here is the last question. Like, what instructor or wallets are available for that? Coins to ensure easy access for the both consumers or the margins?
Consumer Access and Future Plans
Yes. So the. The primary application that most consumers will be using for our project with the merchant ecosystem, the inbuilt web three wallet, and everything else that'll be coming, we would say, well, it's definitely coming this quarter. It's looking at about four to six weeks, which is when the utility of the coin will really grow. The website is where you can find instructions onto how to add our network to Metamask, or you can go to like chain list and just search for that. But the website is just that t h a t website. And on there you'll find the Polygon token address, the listing on the Dexs, and on the centralized exchanges as well.
Where to Find the Coin
If you're looking for where you can find the coin and the wallets as well, you can use wallets like uniswap, one inch. Anything else in the meantime, until our application actually launches in a few weeks time. Okay? Yeah. And also with this question, may I know about your future plan? Like, could you say a bit about like, what is your future plan according to your roadmap and currently which state you are working? Yes.
Focus on Merchant Ecosystem
So right now our primary focus is on the merchant ecosystem and growing that throughout and rolling out the application this year. So that's really what we've got our heads in right now. We're just smashing out the final pieces that we need and we've got some centralized exchange listings that are coming. We are waiting for those to all roll out so that we can actually integrate those centralized exchange APIs into the applications that in each area globally, people have the easiest on ramp, off ramp solution for buying and selling that currency within the app without the technical overhead.
Future Developments and Features
We've got the centralized exchange listings coming up this quarter and the app coming up. Then next year it'll be about growing ourselves into all of those international markets with more merchants. We have feature plans for nfts for the merchants as well, where you'll be able to acquire nfts directly with the merchants to be able to have exclusive benefits. For example, you might buy an NFT to your favorite restaurant and get 30% off every time you visit that restaurant.
NFTs and Community Feedback
That will be an example of the NFTs that our platform will have and that you'll be able to buy on the that blockchain with the that currency. And all of the merchants that we did our beta run with, they were really excited about doing something like this. The majority of them were actually keen to launch their own nfts. And so we actually have a pathway for them through our applications to launch an offering into our blockchain where people can acquire these and start utilizing them again. Nfts for the real world, but all on that blockchain and utilized by that currency, including the merchants.
Roadmap and Future Adjustments
And then we're going to be adding in app ordering to the app delivery services in there is a bit further down the roadmap as well. But that's also going to be coming to our project. And so we're working on partnerships for that. And so if you go to the white paper, it also includes the roadmap, and it has much more detail in there as well. It's always going to be slightly changing depending on what's the best things coming from the community. We take requests and things like that.
Commitment to Roadmap
There's anticipated enhancements and everything else laid out. We've done really well to stick to our roadmap. Actually, something else I would say is all the way up until this quarter, we've been really on track with our roadmap. And so we look forward to ticking everything off and hopefully over delivering on our roadmap as well. And any adjustments we make will hopefully just be to further enhance the roadmap for any features or anything else that the community is yelling at. We'd love to see this as a part of the project.
Community Questions and Token Listing
Okay? Yeah. Thank you, Bailey. Wish you good luck for your projects. So let's take some questions from the community. The first one is. Buddy? Hey, buddy, are you there? Buddy, could you please ask a question? Sorry, buddy, I can't hear you. Actually. I can see like your screen speaking, but I can't hear a question. So people, you can ask in comment segment, like, if any question. so just give me a minute.
Clarifying Queries and Availability
Okay. I think one question I can take from our twitter. Buddy, I can't hear you, actually, so you can leave and rejoin. So barely. Like, could you share? Like, where can people currently buy your token, actually, is it listed already or nothing? Yes, the token is already listed. It's on coin store this as a centralized exchange, which is, I believe, available pretty much globally.
Token Access Information
It is also available in the decentralized. On a decentralized exchange. It's available on uniswap. You can go. Let me just check this for you. I'm just pulling up the website. Yes. If you go to the website again, that's just that website. T h a t website. There you'll see right on the homepage, the landing page, a big blue button to say, get that one inch.
Decentralized Exchange Overview
It'll take you directly to the trading pool there for a decentralized exchange user. And there's also a guide right there on how to get on board if you're new to the space as well, which might help if anyone's not sure. But yeah, that's all on the website and it is already live and acquirable. So when you buy it through one inch or through Uniswap, you'll be buying it on the Polygon network because that's where the liquidity is hosted on the polygon chain with USDC. And on the website, there's also the bridge and everything else. If you want to bridge to the network where it is the native token, you don't need to hold any other tokens for gas fees and things like that. And it's extremely cheap and fast. But yes, it's already live and you can jump on board.
Community Engagement and Partnerships
So let's take the question from the gold. Speed, are you there? Hey, good speed. Hey, good speed, are you there? Am I audible? Yes, you are. Ask a question if you have. Okay, thank you for giving me the opportunity to ask my question. My question is on just looking at the fact that you're just starting out, do you have any ambassador program to help grow your project? Right now? We are. Well, we are getting flooded, if I'm honest with you, with people reaching out to work with us. Yes. But the best way to get a response from our team right now for any kind of partnerships or working alongside us is to go to our discord server and create a support ticket and let us know what it is you'd like to put forward to our team, and we will respond to you within 48 hours. That is the easiest way for us to communicate with you. And yes, we're always, you know, bringing on new people and expanding, but yes, that would be the best way to go about it.
Security Protocols and Infrastructure
My question, security is the most important things to consider. One, studying Alpha project. My question, sir. So what was that? It is. I just missed the very end of your question. My question, security is the most important things to consider when studying of a project. I think he wants to know the whole thing about the security. I think that's about. Yeah, yeah. So, yeah, so on this, we've. We do have our own layer one, and we have worked with partners in the development of this. We have used the Hyperledger Besu fork for setting up our nodes. We've partnered with Kaleido, who have been a part of helping us run our infrastructure initially and set things up as well. And on the smart contract side, all of our smart contracts are typically either standard or we put them for review.
Final Thoughts and Future Plans
So before wrapping this session, do you have anything else that you want to share with us, like any important news or anything. From my side? I think we've covered everything. Mostly, I would just say to anyone out there that's hearing about us or finding us for the first time, we are new. You'll hear a lot more about us. We have big plans. And if you're thinking about getting on board, it is very early days, and now would be the best time to get on board. But you will be seeing us as we expand. Wherever you are in the world, we look forward to coming to your area, bringing more merchants on in your area, and becoming a standard payment method everywhere around the world. So, thank you for joining. If you're a part of this space right now and you're listening in, thank you for coming and listening in, and hopefully we've been able to answer some of your questions.
