We would like to thank the Barter team for coming to The Gem Hunters and kindly sharing more information and giving our community a recap on the project, as well as updating us on the progress since we last held an AMA and hosted a pre-sale at TGH. Our team will be asking some questions and then we will revert to public questions.
To celebrate the upcoming launch of Barter Trade the 5 best questions will win $50 each
So it's been a few weeks since our private sale round and we would love to get a brief recap of the recent events and developments!
Hey guys, Most of you know me hehe. i have with me Anurag and Garlam. Would like to start by saying, thanks for having us back, cant wait to update you guys with our progress and give an insight to whats ahead"
After the end of the private sale we explored a variety of options to go about the Public Sale. The idea was to maximize benefits for the community. And, so we decided to conduct 50% of the token on our DEX and 50% on Uniswap.
Been doing a lot of things tbh, the public sale in 4 days!
A number of partnerships that are ongoing.
in discussions with a number of Market makers and liquidity makers
Expansion of our dev team and a lot of marketing partners enrolled plus Staking for BART coming later this month.
We see you have assigned Garlam Won as your new marketing manager, could you please introuce yourself to our community?
Hey guys my name is Garlam Won - been in this space for 3 years now working with various different projects. I led the marketing for Harmony during Binance IEO and beyond and now been helping top projects like BarterTrade to make them noticed in the crypto space.
Here are some of the quick stats on myself
Twitter (12k+ followers) - https://twitter.com/GarlamWon
Linkedin (16k+ followers) - https://www.linkedin.com/in/garlam/
Head of Marketing for Harmony - https://twitter.com/GarlamWon/status/1186236939692920832?s=20
- First marketing person at Harmony and developed entire marketing pipeline and infrastructure
- Ran AMA, Influencer, Twitter, Content, PR for Harmony
- 800 - 70k in twitter following
- Developed content line
- Brought in all the community managers and set up groups for Trading, Main community, and Harmony Fanatics group - Grew community from 3000 - 12k
- Built relationship with journalists and got featured in Entrepreneur.com, coindesk, forbes, cointelegraph, reuters, The Block, Wall Street Journal, Hackernoon, etc
- Brought in gov contract (big tech company in Korea, Government incubator, MOU with city of Seoul) - Confidential
- Led most of the exchange listings (Huobi, Kucoin, Bitmax, Gate.io, Coinone)
We are really impressed to see all these credentials, you have worked hard and got the merits for it, i hope its gonna pay off for all of us barter investors, as we all know its not just not what we know, its who you know! Great to have you aboard! let's open up the chat and give our community the chance to ask a few questions, remember the best 5 questions will win $50 each!
Can You talk about your tokenomics?
we're raising small amount so that there's room for growth (around 1.1M USDT worth of tokens or so) We've already secured about 70% of total so we expect to have a smooth pub sale
Blockchain has many Disadvantages, how does Barter trade plan to merge Blockchain as well as existing Technology to make it more Secure?
Yes, being in this space for more than 5 years now I've seen the industry evolve from its early days. And, the current challenges (I won't call them disadvantages as such since they are meant for particular use cases) are getting addressed by some really cutting-edge work that's happening globally. So, still, early days for the technology to fully blossom (remember AI took almost 35-40 years to get to where it is today), but there's phenomenal progress.
Talking about Barter's Security in particular we have taken a series of steps and have built-in features to ensure security. I would encourage you to visit the Security section on the website or read the White Paper that lays it down with a lot of detail.
My questions to the Bartertradeio team
1. One of the problems you raised in your whitepaper is the issue of fake volumes on many exchanges. How do you intend to combat it considering you also plan to deploy algo trade bots. Won't users be experiencing wash bot trading that way?
2. Will Bartertradeio also feature a tokensale (IEO) launchpad for new blockchain startups now or in the future?
1: So, the most obvious answer to this is by providing real volumes. I will quickly address this in a casual way and later on i will post the answer that we made during our last AMA which was very detailed. For avoiding Wash trading, we are hiring a number of liquidity providers and market makers. Another thing, I think i dint understood the part when you say Our algo bots will contribute to wash trading. Does not make sense, maybe you can elaborate a bit?
2: Probably, Yes. But for now we don't have any plans in place for that. But we will see how the situation arises and the market demands. For now we are only concentrated at our launch.
Now i will post the detailed answer below
We will start by explaining why most exchanges have a lack of liquidity and what are the major reasons for it.
1: Not enough traders to trade the assets
2: Not enough volume or Fake volumes.
For any exchange to be successful. It needs to have a deep and liquid market.
Deep : A market with many buyers and sellers
Liquid : A market were assets can be bought and sold quickly
To ensure Traders, we are partnering with a number of projects with an agreement which will make our exchange the first exchange partner for them. Meaning, Our exchange will be highlighted as the preferred exchange within their communities. Announcements for some of these partnerships are already out and some will start rolling out in the upcoming weeks. We will also be partnering with a number of influencers to get the word out about our exchange, its products and why it stands out. Apart from this, there are a lot of other activities to bring users. On top of course, features of our platform that people would want to use to make their trading easy. Additionally, a lot of targeted marketing that will start post launch.
Where else does the liquidity come from? Some overview and than the answer
For any trading markets it is estimated (although we are giving a conservative estimate) that ever 1$ that is being put in the trading markets it is being traded at least 10 times (in traditional markets it is estimated at 200 times) meaning, if we are putting $1m of real liquidity in our platform our Real/volume would be at least $10m if it is being traded for. Whilst we intend to do a lot more in terms of bringing in liquidity. This is just an example. Our goal for the first 2 years is to bring $50m of real liquidity of our own and if we achieve half of it that would mean we have done incredibly well. Apart from this, a lot of other factors will add to this, market sentiment, growth of projects listed on our platform, growth of our products. Combining these, exact estimates are impossible.
2nd thing, Which is the professional approach for bringing legit liquidity. We will be partnering with a number of Liquidity providers, one of them being Houbi mena. Most liquidity providers provide liquidity options for top 20-30 coins on CMC but Houbi mena provides liquidity for 200+. This provides us with an option to list a lot of alts that are micro caps and are in high demand.
Why do most exchanges fail to achieve this? I.e. Liquid books.
There are only a handful of exchanges that have liquid platforms. It is because Projects don't really spend money on things that users want. Many popular exchanges don't even have a stop loss order integrated into their platform let alone other order types. Imagine, if someone is not spending money on developing a basic order type, which is fairly cheap to do so if you are doing an exchange business, then how can you expect them to spend money on liquidity, which is fairly costly. The answer to this is, they can do washtrading and fake volumes. Faking volumes and doing wash trading is incredibly easy and cheap. So, most of these platforms that you see in top 50 all of a sudden are results of wash trading because wash trading volumes have no limit. If you trade in those exchanges you will see that your withdrawals will mostly be stuck for a number hours to days. This is because of fake liquidity on these exchanges and lack of real volumes in their cold wallets. These are just some of the things to answer your questions, Although, no exchange talks about these things because if they do, users will become knowledgeable of their operations and then they will have to answer a lot of questions.
See for example FTX is just an year old exchange and already among the top exchanges, reason being, delivering quality products and fulfilling user needs. If you offer something that the market lacks, users will consume it irrespective of your entry to the market.
Apart from this, there are a lot of other things that we will do to combat those things but they are confidential due to NDA's and security reasons but their effect will reflect on the platform when it is live.
DeFi, or Decentralized Finance, has become a hot topic in the industry. On that front, I’ve seen Bartertradeio detailing DeFi use cases on the website. What would you say is the most promising DeFi application for Bartertradeio at the moment?
We have secured listings for PAMP, Tellor, FRM and other top DeFi projects which you should be able to find on our ANN channel - https://t.me/BarterTradeANN
Can You please explain about BarterTrade's Algo trading?
Barter Trade's Algo trading -- Powered by the revolutionary Flourishing Capital AI makes crypto investing simple and smart for investors by driving higher risk adjusted returns via automatic, real time market conditions based portfolio optimization.
Flourishing Capital AI is not a basic one size fits all trading bot. It actively adapts trading strategy to profit in bull markets and preserve capital in bear markets, putting you on the same level as professional, experienced crypto investors.
How Flourishing Capital AI works
Blockchain analysis, Multi-exchange order book analysis, Technical analysis, Statistical
anomaly analysis, Stable coin arbitrage, and Overall supply and demand analysis are
weighted dynamically to drive Flourishing Capital AI market cashflow opinion
o Return Boosting Intelligences: upon a bullish market determination, the AI will purchase BTC and other crypto investments gaining against Bitcoin to multiply gains. Flourishing Capital AI also supports futures trading analysis and stop gap measures determined by the investor
o Capital preservation intelligence: on a bearish market opinion, the AI will gracefully exit
from exposed positions into fiat pegged or market making positions dynamically,
preventing mass position exit market drops. When possible, Flourishing Capital AI will also purchase 1/Bitcoin and leveraged ETPs, and arbitrage coins
o Neutral Market Intelligence: Flourishing Capital AI gracefully enters a balanced Bitcoin to Fiat Position (50-50 or investor determined), enabling a shift in an advantageous position while limiting losses. When an opportunity to flip altcoins exists, the AI will scale in and out of position to maximize risk adjusted gains.
o All purchases and sells are split up into many small orders with laddering calculated
using an AI driven statistical model which controls for risk and likelihood of order fill.
Flourish AI benefits for traders
Improve risk adjusted portfolio yields.
Leverage high frequency trading, deep blockchain analysis, and information unavailable even to seasoned traders.
Automate risk management, maximizing returns while giving investors control over risk
Simply investing (set it and forget it) while retaining control of risk appetite. Turn on conservative hedging against fiat, more opportunistic strategies, or turn off Flourish anytime to simply hold.
Multidimensional strategies best handled via high frequency, data analysis by AI. For example, Flourishing Capital AI may take a long position on an altcoin rising against Bitcoin.
On a crypto bear indication, the AI gracefully exists to a long Fiat, then uses Fiat gains to enter a stronger position in Bitcoin upon bull crypto indicators.
Higher risk adjusted return by leveraging both fiat arbitrage and trading opportunities (dips and rises in the market).
Automatically fund trades via exchange tokens, simplifying trading even further.
Query detailed information and analysis about markets at any time, providing detailed block analysis unavailable to most traders.
Cross-exchange trading to boost gains even further
As you can read above, the AI is smart and scalable. It is not a basic trading bot where you inject tech indicators. The AI takes into account 100’s of metrics, Blockchain analysis, Multi-exchange order book analysis, Technical analysis, Statistical anomaly analysis, Stable coin arbitrage, and Overall supply, demand analysis and what not.
Can you tell us about Barter Trade's Products? what is the motive behind creating this & what main problem it will solve?
For product/features please see Manmeet's response.
The main motive behind Barter's creation was our own frustration of Trading on other Exchanges. We realized how not-so-good the Trading experience was on other exchanges. Importantly, it was a daunting task for a newbie to begin trading. That's how we came up with the idea of creating an Exchange that will make it super easy for the community to begin trading. We have created the exchange that is frictionless, secure, and very easy to use.
Is there Any KYC to Before using the Platform?
Can You talk about some Security measures You have taken to protect the Platform?
Up to 2BTC no KYC. Please see my response above on security.
Given that many new projects have a risk of exit scam or have their codes exploited, what are the measures Bartertrade takes to prevent listing such projects? And what if a project listed in Bartertrade exit scams?
We have developed a rigorous Token Assessment and Listing Framework. This is based on our years of experience in Trading (remember my core team members have been Traders for long, in fact, some have been traditional Stock Market Traders and join Crypto Trading once it came about) We will not only be using this for due diligence but also we will be reviewing our model on an ongoing basis to improve and continuously keep it updated.