📣 An Hour Special Session with CEO Antony Chang 📣
A special session with 2local community get started❗️
Suraj Jaiswal, [31–05–2022 11:00]
Welcome back Mr. Antony 💐💐
How are you feeling today?
Antony Chang, [31–05–2022 11:00]
Hello all, good to be here.
Thank you. Feeling good!
Suraj Jaiswal,
Actually, we don’t call it AMA because this time it is more than an AMA. We wanted to discuss also including AMA session so we can know what community wants.
And at the end of session, we have a prize for a user
So, let’s get started now
Antony Chang,
Good Idea, Let’s hit it.
Q1- Hello dear community and team,
I would like to share my idea on the 2local development. This is connected with collecting funds on the development of 2local.
Now to the gist of my idea. I would like to propose the team to create a special NFT collection😍 with 2local which will help both to keep the project on its rise in Q3 and Q4 in 2022 and solve big problems. They might be special 2local stickers (available on Telegram) which depict timely problems in the world which can be solved by local-2-local principles, like Ukrainian war or monkeypox.🙏 The funds collected may help the project 2local and be transferred to the persons and organizations in need to partner 2local. ✌️👍
Dear team, I hope you’ll like my idea and it will inspire you.
[In reply to Sergio Vlasenko]
NFT collection is a good idea. We have to do some research about the Telegram and depict timely problems. We shall for sure publish a NFT series next Month. Thank you. Good one!
👍 👍 👍 👍 👍 👍
Q2- You have written: ,,Our goal is a strong #economy that delivers individual and national #prosperity while empowering and tackling inequality. Thanks to the #cashback system our #users can fulfill their ambitions and enhance their well-being in a secure and sustainable way.
#2lc # #blockchain #2local https://t.co/RjGGZq68cL'' But I am asking what is your real goal here? Very few people still believe in that?
I have an idea: You have to finish the trading and cashback system, with help of metacom development if necessary. At the beginning let the system use BUSD or BNB instead of 2LC afterwards when the trust will be restored (enough people in system) you can implement 2LC….
[In reply to Gregor Mikulin]
We still have the same goal.
Trading contract is after maintenance and additional mobile API the first contract to make live.
Beginning next week we sign most likely a contract with an investor and we will expand the development team.
Now we have 3 developers and a server manager working on the current work.
The cashback system wil be next and will only accept USDT/BUSD BEP20. To bad this is stable with declining value of USD but it is a good start. Hopefully we will have an own stable coin in the future stable to purchasing power.
Looks like you read our mind, well done.
👍 👍 👍 👍 👍 👍
Q3- Can the team make a multichain cross a chain? Because I see this a future of cryptocurrency space
[In reply to Mostafa Elganzoury]
Yes we are planning a cross chain exchange and then 2LC will be also on these.
We looked at XDC but we are open for ideas of blockchain network to use.
👍 👍 👍 👍 👍 👍
Q4- We are immersed in NFT trending. Is NFT in your project really useful for meeting user needs? Please clarify the matter.
[In reply to Jack Sparrow]
The NFT Marketplace smart contracts are finished, needs to be audited.
And the webpages needs to be build.
After the Cashback system online we will do so.
👍 👍 👍 👍 👍 👍
Q5- Could you please tell me how good team and experienced you are? Does your project has any plan to hire new members?
[In reply to Hello Sir😎]
Our team went from 35 Team members to about 12 team members.
(we will update the Team page by today)
After we got delisted at Bitrue.
The development team from before didn’t do a good job for the Exchange. Landing page and Accounts are good built.
All current team members are highly experience in the Crypto-space or the sector they are working in.
I also learned a lot in these 4–5 years in the Crypto space. Hacked and scammed multiple times, hard lessons and very expensive. Crypto space is a cool place to work but hard lessons to be take.
When we start making revenue we are planning to hire new members again.
👍 👍 👍 👍 👍 👍
Q6- Is your project for those who can only speak English? Or is there any arrangement for other area, other language speaking people?
[In reply to Paulo]
We had communities in 24 countries/12 languages. This is not the case any more.
When all goes well we will restore this asap.
Our Homepage still has these languages.
👍 👍 👍 👍 👍 👍
Q7- I understand the questions. But can you please update us the progress right now and what are the difficulties your still having?
[In reply to J S]
Issue 1
The Exchange server needs to be build up from the ground with the modules we have there already running.
We will do this on our AWS server where our Account server is also running.
This part of maintenance was without building from ground up, planned to be ready last week.
Now this will take longer. The exchange rate of 2LC is not visible and will be after this is done and operational.
Issue 2
To the Accounts server a new API needs to be added. Mobile apps iOS and Android need to delete accounts from app.
This is mandatory from June this year. Apps can be stopped when not available.
We are now working on this part.
Issue 3
All servers have vulnerabilities. Always maintenance is needed. We are doing this part directly after the Issues above.
For the future we will apply at https://www.intigriti.com/ (Dutch company), it is a Bug bounty platform.
Issue 4
Delisting at Bitrue. Our damage claim of $800K has been sent to the court.
For listing at a new exchange we ask the community to give ideas. For now a Mid-tier exchange.
Issue 5
Investments. We have found a smaller investor about $150K and we are talking with an investor about $800K.
Next Month we will start 2nd Seed Round. I have gotten a lot of experience about fundraising and have made good contacts in time. And after that round we will still continue with fundraising till IPO, I was thinking it wasn’t useful but after being delisted at Bitrue we couldn’t keep up the rate of operations.
👍 👍 👍 👍 👍 👍
Q8- There is to much sell pressure, and sell bots on every purchase, there are also a lot of coins are going to be release to investors and employees..
Buy burn the can not do it the know it’s only exit liquidity for those people and the can not to anything about this.
Development, and a active team is the only way, the bottom will be there someday that could be much lower as it is right know, and new investors will buy the selling @ some point you will have maybe a run up if 2local deliver some milestones
[In reply to Corne Van den berg 🔴]
We think it is better to grow again by developing a good product and being at the right exchanges.
Instead of buy-back/burning this way you only shrink.
We want to use our funds for production not for destruction.
Growing is more demand is higher exchange rate and a healthier 2local/2LC.
👍 👍 👍 👍 👍 👍
Q9- Hello Mr. Chang I had a few questions.
What is the main purpose of 2local?
When can 2local consider itself worthy of praise?
And the last question
How long does the number of tokens in circulation increase?
[In reply to Unknown]
Nice question.
2local can praise itself when we are generating money for our users through our cashback system.
Circulation supply will go up for 2 years after listing (1st June 2021) = total lockup time of bonus/payment tokens.
👍 👍 👍 👍 👍 👍
Q10- Also the high apy makes it an high inflation coin right now, you can not manage price going up without new investors with this high staking rewards, so you need a lot of new money 💴 flowing in to keep the chart straight with those rewards
[In reply to Corne Van den berg 🔴]
True we will ask community what APY is reasonable enough for now.
@Suraj Jaiswal can you arrange this.
This will be only for new staking.
Suraj Jaiswal
Sure. We can poll with our community when ready.
👍 👍 👍 👍 👍 👍
Q11: My 3000$ is now $9 how does it feel antony? Did you enjoy it?
[In reply to Mad hatter]
This feels very very bad for me. Certainly not enjoyed it!
Whole team has worked and current team is still working hard to get things done.
It is difficult at the moment but we will get back in track.
HODL and keep connected as we work for you.
👍 👍 👍 👍 👍 👍
Q12- You can understand that if a project succeeds or fails, the community is the biggest factor. The question is how do you plan to develop the community and what are the marketing campaigns to attract the community?
[In reply to Crypto / Research]
We have learned a lot about promotion / marketing.
Only it needs to be better with 2local to start growing community.
Because we can’t influence the crowed doing this.
👍..
Thank you all.
And we are really working hard to get the exchange rate back again.
Hope we will have a better situation next AMA.
After we have funding we will buy-back tokens.
Thank you All
