Pipeline / Short-term focus:
More STO exchanges integrating IX Swap:
- Since each jurisdiction & platform has its own nuances, a lot of work is going into making this process more streamlined and scalable, with the end goal being that we only have to make minor tweaks for each integration.
- It's expected EOM, but we might add a few days because we also want to integrate the academy into it.
The IXS Launchpad:
- Development of the launchpad is finished but we still have to test it properly so we don't run into any issues at launch.
- It's expected to be up by the end of Q1.
- We hope to acquire the Bahamas license before then so we can allow retail access to the launchpad as well.
- A lot of the STOs we’re looking at right now are linked to that retail license. Meaning most of the listings that are in the pipeline and ready to be listed on our exchange are dependent on us getting the retail license we've been waiting for.
- Right now we're speaking to another group on bond products. Their assets are already on-chain so we're looking to bring them over. These assets would only be offered to accredited investors so we can't offer them to retail until the license comes around.
- One of our missions is getting retail access to primary offerings (IXS Launchpad). We need the Bahamas license to do that which is still pending.
- We were promised we would have it in February 2022 but unfortunately we're still waiting. We've had to put a lot of extra effort into this and we're at the mercy of the regulators. The FTX spectacle certainly didn't help.
- Regardless, we are consistently making progress towards that license, and recently more developments have happened behind the scenes that reflect that positive progress.
- From Julian's prior experience in dealing with regulations/licenses it looks to be getting close.
- Until we have the license, we just have to keep filling out the forms and keep working with the regulators.
- On the IXS Launchpad project, we're looking to add an additional page on our website where we can gauge investor interest in deals/proposals from issuers that are looking to tokenize their assets. Then if there's enough interest we would launch those deals on the platform.
- It's beneficial for the issuers because they don't have to spend money launching an offering no one is interested in.
- It's beneficial for the investors because they don't get their investment locked up in a deal that may see little interest.
- It creates more transparency for our community. The community would get a better view of all the deals & proposals being offered to our platform.
- We're looking to add additional utility and integrations of the IXS Token to help increase its use case and adoption, and thus token price.
- We're taking a fresh look at this since a lot of the existing ideas were conceptualized before the platform was built. We'll share an update on this later.
Funding round / Runway:
- For the funding round, not much has changed. The market conditions are certainly making it harder to find investors.
- We're hoping to pick up on investments over Q2-Q3 as the market outlook improves.
- Investors also can't sit on the sidelines forever while collecting management fees so this should be only a matter of time.
- In terms of the runway we're still doing good as per usual. We're carefully watching how we're spending our funds.
- Last AMA the team made clear that we only spent about half of our funds raised from the IDO so far, building out critical infrastructure.
- There's also been internal cost-cutting since then to help smooth things over for the long run. This also includes the community moderators.
- The market is still generally slow, so right now we're mainly focused on pushing the idea of tokenization, ix swap, security tokens, and a general understanding of the industry. The main blocker of IX Swap is to drive the adoption of these industries, having people understand the technology and its benefits. We have to continuously work to spread the message while more and more institutions and projects come to understand the benefits. It's just a matter of time until things will drastically change.
- We can't share any names but we're meeting with a "digital credit platform" this week. This platform is looking to tokenize all its Debt offerings onto our platform.
- Julian recently interviewed Gabriel Abed who's one of the OG's in crypto. He's connected to all the major players in the crypto space like Roger Ver and Charles Hoskinson. That interview should be coming out very soon.
- We're building out a list of key people we'll interview. Not just purely people in the STO space, but also platforms that have communities we can introduce IX Swap & InvestaX to.
- Julian will do another podcast probably next week which will be AI related.
- There's more planned and we'll keep the community posted on podcasts as they come out.
- IX Swap is also lining up our own sessions with other communities.
What are the token velocity mechanisms of IXS?
In terms of the spending of IXS, that will hopefully accelerate once the launchpad launches.
We're trying to build the tokenomics in a way that costs/fees on the platform accrue back into IXS which will be one of the major drivers for token value.
Another thing we're looking at is partnerships that allow us to integrate IXS on other platforms, which will be one of the talking points of our strategy session(s).
We're thinking about how we're going to push spending of IXS on other platforms. Poolz was a good example of this. They gave our token holders special benefits on their IDO platform using only IXS tokens rather than Poolz tokens.
The utility is something we're looking at to drive up the velocity and spending of IXS.
What are project Janus & project Skylab?
These are bridge & oracle projects for the STO space.
We're having discussions on the oracle project right now but that's more in the long term.
A big reason we're looking at oracles is that if we wanted to onboard something like a mutual fund, without an oracle providing price feeds to these mutual funds the price would be free-floating in the market and have huge amounts of arbitrage across different platforms.
Fund admins don't want this so we're working with them on oracles to address this.
How can you ensure us that holding this token is more beneficial for the long term and that you won't give up when things get tough?
Things have been tough since day one since no one has ever done this before.
We're still here. There are a lot of easier ways for Aaron and I to make money, we're not even making any money right now.
We're just investing and holding all our assets in equity and IX Swap.
You can see the track record of the team, you can see all the AMAs.
Here we are right now.
We didn't have to do this, but we believe in the project and the community. We love the support. We still think we're just getting started.
Some people have been disappointed by the speed of things but if you look around at other projects you can see after a while if they're legitimate or not.
We're big believers in the tokenization of all assets. It's going to happen, it's just a matter of time. All the news is pointing to this.
It took InvestaX 2.5 years to get its exchange license. That's almost double the time IXS has been alive. It's not easy, but here we are, and we still want to see IX Swap be successful and its use case come to fruition, hopefully sooner than later.
It has been mentioned that the plan is to tokenize assets on IX Swap.
Quite possibly, that could be the most lucrative utility for all IXS holders.
Question is, what steps have been taken and still need to be taken in order for that to happen? What is the timeframe to have that come to fruition?
That's what we're building on the launchpad right now.
The legal team has been working hard to standardize all the documentation and structures that we think is the best route to create an STO,
all the way to the point where it would become easy for the person to set up a company or SPV.
The owner would just have to transfer the ownership into the SPV and essentially use all our documentation for standard STO issuances.
To start, this will only be debt & equity, rather simple structures.
But we can build out on that.
That's what we've been working on to get the launchpad ready.
We want to standardize and make it easy for people to launch STOs.
We need more products in the market so this is what we're offering the market.
A lot of time has been spent by our legal team looking into different jurisdictions and different structures to find out what the best & most cost-effective way is to launch an STO in this market.
Yesterday in Korea, the Financial Supervisory Service legally allowed STOs. Securities companies are also actively advancing into the STO market.
Does the team have any plans to enter other countries(ex. Korea) using the white labeling method?
We're in conversations with a Korean group right now. They issue their own STOs and we're looking to distribute some of the assets as well.
We're looking at working together with a couple of different STO groups across different jurisdictions.
Maybe not originating, but distributing the deals they have on their platform so that our users can invest in these through our launchpad.