In a recent Ask Me Anything (AMA) session, the IX Swap team addressed a range of questions and concerns from their dedicated community. The session delved into various topics, from the challenges posed by delisting on KuCoin to their plans for expansion and regulatory considerations. Here's a comprehensive summary of the key takeaways from the IX Swap AMA.
The IX Swap team began by expressing their disappointment and frustration regarding KuCoin's decision to delist their token. They highlighted their efforts in significantly improving trading volumes, making the delisting appear unreasonable and unprofessional. This incident underscored the volatile nature of the cryptocurrency exchange landscape, where abrupt changes can occur without much warning.
2. Navigating Market Changes:
The team acknowledged the ever-evolving landscape of cryptocurrency exchanges. Many exchanges have faced difficulties, especially during bearish market conditions, leading to layoffs and regulatory compliance challenges. Additionally, they noted the skyrocketing costs associated with listing tokens on exchanges, which contributed to their heavy reliance on KuCoin.
3. Looking to the Future:
Despite the setback with KuCoin, the IX Swap team remains resolute in their quest for success. They emphasized their commitment to finding a new exchange and diversifying their listing venues to enhance liquidity. The community can expect more opportunities to invest as they explore partnerships with larger, more reputable exchanges.
4. Regulatory Realities:
Navigating regulatory challenges, particularly in the United States, remains a priority for IX Swap. They are cautious about onboarding U.S. investors until regulatory clarity is achieved, given the uncertainty and complexities surrounding crypto regulations.
5. Upcoming Developments:
The team discussed their plans to improve the user experience by revamping the exchange's layout and streamlining KYC (Know Your Customer) processes. They are also working on optimizing the mobile functionality of their platform, recognizing the importance of catering to users who prefer mobile access.
6. Gamifying Trading Activity:
While the team revealed that they do not currently have plans for a copy trading feature, they mentioned their focus on enhancing trading activity through gamification and other creative strategies.
7. Marketing Challenges:
Marketing securities in different jurisdictions comes with its own set of challenges. The IX Swap team must be cautious about the information they share and the audiences they target, adhering to specific regulations governing each region.
8. Competitive Fees:
One positive note from the AMA was the clarification that IX Swap's fees for the Launchpad are competitive, often lower than those of other platforms. They are actively working on making fees more reasonable for smaller startups, further supporting the growth of innovative projects.
9. TORIC's Path to IPO:
TORIC's journey toward an initial public offering (IPO) remains uncertain, contingent on approvals from various jurisdictions. The team mentioned the possibility of TORIC being acquired instead of going public—an outcome that could significantly impact investors.
10. Calculating Share Value:
Valuing shares of private startups is complex and multifaceted. The team highlighted that various methods, such as book value, comparable analysis, cash flow models, and qualitative factors, contribute to determining share value. Investors must consider all these aspects when evaluating opportunities.
11. Investment Opportunities:
The IX Swap team encouraged community members to conduct thorough research and carefully evaluate investment opportunities. They emphasized that investing even as little as $1 can help users learn, gain experience, and build their portfolio in the world of security tokens.
12. Team Composition Details:
While not covered extensively in the AMA, the breakdown of the team composition was mentioned as a topic that could be shared with the community in the future.
Despite the challenges and uncertainties that cryptocurrency projects face, IX Swap remains committed to building a brighter future. Their dedication to expanding, embracing regulatory changes, and offering innovative solutions underscores their resilience in a rapidly evolving industry. Community members can anticipate more exciting developments and opportunities as IX Swap continues its journey toward success.
Get the full update from our July AMA below: