We launched a brokerage program some time ago. Many expected it to be some kind of big festive event, but in fact, we launched it in parts within several months. We also made a release in which it became possible to trade NMX on a familiar trading terminal. After we add all trading pairs with Binance (approx. 1300 pairs), we can say that the brokerage program is fully launched.
Regarding the question that interests everyone: as the brokerage program was launched - why the NMX token rate does not rise or fall. Here the answer is always simple: an asset does not grow because it is not being bought more than it is being sold. If we were speculating on a broker program, giving ads in advance with calls to buy a token, this would be a purely speculative growth that would end with a drop. Speculative growth always ends in decline.
We decided that we would dive into the product, we will develop it and make it more and more popular, and it is through the benefits that this product brings to our users that we want the token to grow in price.
A brokerage program is such a basic foundation, on the basis of which we will build an additional platform that will provide the most obvious advantages, rather than savings on a small commission.
Recently, we did a survey in the channel asking what people need on the exchange to trade on it. Many answered they needed trading bots, copy trading, signals, etc.
We have trading bots in development, and we should launch them in the near future. It is important to understand that this is not an automatic loot button. We will be launching semi-automated trading bots, and in order to work with them, you still need to understand the market. But the actions will cease to be monotonous and manual, and everything will go through an algorithm that helps to trade, create orders and fix profits more efficiently. But this is still a story about trading.
If we talk about copy-trading, then this is a story about more passive earnings and income.
The essence of copy-trading is that you automatically repeat the actions after experienced traders show a certain good result. And then, indeed, by pressing the consent button to give the system the opportunity to repeat transactions for this trader, you will do the same as he did, but using your balance.
There will be no quick launch of copy trading, that is, within one or two months. But we will do it, and we expect that the functionality of trading bots and copy trading will be superimposed on our brokerage program, and all this together will become a demanded product.
The listing of NMX on Binance is not yet expected precisely due to the fact that at the moment it is a token of a centralized exchange. Binance made it clear to us that they would not list other CEX tokens. If at some point NMX becomes more of a decentralized exchange token than a centralized one, then perhaps this issue will become more relevant.
Regarding the listing of the token on other exchanges: we will list it. So far I cannot say anything more specific.
We are planning to launch the first version of DEX, Nomiswap, in December this year. At first, it will not have the full functionality that we have conceived, since in general, we have grandiose plans for a decentralized exchange. There is no such DEX on the market yet, it is unique. But we chose a phased implementation strategy. And its first version will not differ much from the same pancake.
NMX will be the internal DEX token, just like the CAKE on PancakeSwap. In essence, we will fork Pancake and tie it all up to our token. You will have access to additional liquidity not only for NMX / USDT, but you will be able to farm NMX in other pools. For example, USDT / USDC.
There will also be lunchpools, that is, this is the section where you can stake NMX. This is what everyone asks so often.
We will also introduce something that is not available on Pancake - this is boosting. That is, when you can earn more tokens on staking NMX, the profitability will be higher, but at the same time, you have to lock your tokens for a certain period. The longer this period, the higher the profitability will be: in this way, we plan to exclude tokens from circulation. Accordingly, the fewer tokens turnover, the more they cost.
If we also talk about the unique components that will be in the second version, then this is our two-phase affiliate program, in which it will be possible to earn both from direct referrals and from the whole team.
At the same time, team farming will remain, that is, our farming will gradually be transferred entirely to DEX, and all bonuses for direct referrals and team bonuses will also be implemented on the DEX functionality.
At the same time, the utility of the farming itself will remain. When, for the number of funds invested in the liquidity pool, a level is given that increases the profitability of the referral program, and reduces trading commissions on both platforms: on a centralized exchange and on a decentralized exchange. That is, this integration of the CEX with the DEX will intensify, and this will also be our unique feature.
The referral tree will be common between the DEX and the CEX, that is, that referral tree, the referral structure that has now formed on the centralized exchange, will also be transferred to the DEX.
Now you can trade for free on a centralized exchange, which is actually quite critical for DEX because DEXes are traditionally different from centralized exchanges because there are high commissions. And due to cashback in the NMX token, it will be possible to trade, in fact, for free, again, if you have a high level of farming.
Most likely, we will also increase the profitability of some pools, thereby motivating people to come to our DEX.
Will you return the prize demo tournaments?
- At the moment, there is no decision on this issue, most likely we will return the prizes for demo tournaments, but this will not be a monetary reward, but most likely some kind of qualification that will allow you to receive additional bonuses when trading, or when farming, or something else.
Will peer-to-peer trading be added?
- In general, this is a separate large product, which we will not spend our time on now.
Do you plan to add deposits/withdrawals through the Tron network?
- Right now, all networks that are on Binance are available for those currencies that are listed. At the same time, we will be able to add coins that are not on Binance.
Why doesn't the exchange team save the rate in any way?
- To be honest, I don’t see how we can save the situation with the exchange rate unless we spend extra money from our pocket to buy tokens back. Or go through the development of products and attraction of new users. We are on the second path now. We have already tried the first way, maybe you did not notice it.
We need a balancing force in the form of those people who need this token in order to use the product. We are improving the product, developing new products so that they are in demand by people, and they have already bought the token, and it’s just this attraction of new users to a really useful product that should be the balancing force of inflation that appears as a result of the farming of new tokens.
Regarding the burning of tokens, it's the same here. Nothing will change if you just burn them. We have in our hands a certain amount of tokens that we are going to spend on marketing events, and if we just take them and burn them now, this will absolutely not affect the price at all.
You can observe the quarterly BNB token burning. Binance announces that they have burned a colossal amount of tokens in dollar terms, and all people are simply perplexed as to why the rate did not rise at that moment. The price of a token is influenced by its purchase and sale.
Product launch speed
Isn't there a way to launch new products faster?
- I understand everything, everyone would like us to launch new features faster, but the size of our team is not even a hundred people, large platforms have huge technical teams. Our team is small by the standards of these large projects. We all work for wear and tear, and all that we can do, which is in our power - we do it. We would like to launch everything twice as fast, but this way we need to double the team, which means that we need a much larger budget. And this is not little money at all.
What are the forecasts for the NMX rate?
- Of course, I cannot give any predictions. I always repeat that we have been in this project for more than four years and have not stopped working for a single day. Whether it is a centralized exchange, decentralized, maybe some other directions will appear, it doesn't matter. We are working in this direction and, probably, many can envy our obstinacy. And then see for yourself. That is, do you believe in what we do or not? Do you believe the NMX has some kind of future or not? And that's exactly what you need to rely on. A lot of resources have been invested here, both temporary and financial, and just human labor. It would be simply criminal for us to refuse all this and turn away. We will continue to work.
Why do you poorly conduct marketing activities?
- We are conducting them. They are less noticeable because the niche where we are now moving is less hype, that is, this is purely trading for traders. We advertise where traders live. Perhaps you simply are not present there, so you do not see it. But we will increase the effort.
Binance Brokers Tournament
You became a Binance broker, now there is a tournament of brokers, why are you not on the list?
-They have futures brokers on that list. We have not implemented the futures trade. But we also take part in this tournament with all our traders, but only from the spot trading side. This, of course, lowers our chances of winning to some extent, because futures are really popular.
When will the futures be? And will there be a connection to the CScalp platform at all?
- We are not working on futures yet. Perhaps we will implement them a little later. In any case, it will be next year. Negotiations are underway with representatives of CScalp.
People who use this platform mostly use futures. Actually, as soon as we have futures, we will return to discussing this issue and, quite possibly, we will be listed there. The same is true for all other trading terminals.
There are two components here, if we now make an Airdrop and simply distribute to everyone a large number of new tokens that these people can use and go and sell them right now, then we will bring down the token rate even lower with our own hands, which is not very high anyway. If someone thinks that he will have time to sell the token received through the drop faster than others, then he is mistaken.
Do you plan something like a marketplace? And for winning tournaments, will there be NFT prize money, which will be like a boost, like on the same BiSwap?
- We will do all these things in DEX, of course, and we also plan to integrate them into a centralized exchange. It's just that I again want to focus on the fact that we cannot do everything at once.
At the previous AMA in August, you said that you should look towards venture capital investments and their attraction.
- We will start working hard on this issue, I hope that from January almost immediately after the holidays. This is indeed a very correct observation that investments, attracting investments will solve the issue of resources, both financial, human, and marketing. This is something that definitely needs to be done, it is good that now the venture capital market is looking at the crypto market positively - this was not always the case.
Hello everyone. I have one question. You yourself said that your main audience is not traders. Perhaps it makes sense to make some additional, let's say, mini-games, bets where Bitcoin will go. So those people who are far from trading are somehow attracted and use the project in just such things.
- Yes, bets, lotteries of all sorts - this is on the list for implementation. Including, as one of the mechanisms for burning tokens, when part of the prize fund is burned and not distributed. We will do this as resources become available for this. By attracting investments, we can do everything faster.
There is a moment in the white paper with a free withdrawal depending on the referral level, will this be implemented or not?
- Due to the fact that the cost of withdrawals, transactions, especially on the ETH, is extremely high, so far we have not implemented this functionality. When the white paper was being written, ETH was not so busy. There was an illusion that transactions would always be cheap. Therefore, it was assumed that we would be able to allow these free withdrawals, but right now we will not implement them. We will not implement this right now, but the time will tell.
Will liquidity move from PanCake to its own DEX?
- Yes, we will completely stop working with PanCake.
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