TRXMarket presents a series of AMAs (Ask Me Anything) in our Official Telegram Community(https://t.me/trxmarketEN), to build a closer relationship between the team and the community and make users have a better knowledge of TRXMarket. You can ask anything you want to know related to TRXMarket.
The first episode of AMA series was with J.K.Hou, the product manager of TRXMarket, who plays a critical role in the development of TRXMarket. Missed the first AMA! Don’t worry! Following is the transcript of this AMA.
J.K.Hou|TRXMarket: Good morning & evening everyone! I’m JK, in charge of product and operation of TRXMarket. Very glad to be here. TRXMarket has launched more than half a year, but I hardly find an opportunity to share some info related to our team and product with you. Now, it’s time! Let’s begin!
Q: Would TRXMarket have their own token and what would be the use case. We have seen exchange tokens do well in the crypto space?
J.K.Hou|TRXMarket: We don’t have our own token now, but we may issue TRXMarket token in the future. In the current stage, we know that our product still have some flaws on basic trading experience such as the delay of submitting order, and we think it is not good enough to share it with our supporters. Now, we are putting our efforts on building a top spot trading dex in TRON and even in the whole blockchain industry, you will see a brand new TRXMarket in the near future. After we get these things down, we will mobilize the strength of community via TRXMarket token and I hope we can build TRXMarket to be the NO.1 trading platform in the whole new era of blockchain together!
Q: You will support all TRC20?
J.K.Hou|TRXMarket: Yes, we wanna be the trading infrastructure of TRON, TRXMarket will support every non-scam TRC20 & TRC10 token in the future. And we are working on this with TRONSCAN team now. There will be a more efficiently token listing review and more tokens will be listed in TRXMarket. This is so exciting, but I can’t tell you more, cuz it is still a confidential feature. Please wait patiently for our surprise online.
Q: My question is why TRXmarket can Not add Bitcoin and ETHEREUM and others cryptocurrency ERC20 in TRXMarket For trading ? Other question why TRXmarket Not add PayPal for buy and withdrawal by PayPal ?
J.K.Hou|TRXMarket: OK, let’s start with the first question. The reason why we haven’t supported ERC20 token is the cross chain tech is not mature enough to be used in DEX. Centralized exchange have a shared wallet for all users, their transactions are off-chain. But as a DEX, we need to make our transactions recorded on chain. As we all know that TRON and Bitcoin can not interoperate with each other and we haven’t figured out an appropriate solution now. Then the second one. The reason why we haven’t support fiat is related to regulation stuff. None of the DEX can handle the compliance requirements of government and financial system. Also we wanna our users can buy cryptocurrency more convenience, we will find a partner who has the ability to cover compliance requirements to work together on fiat things in the future.
Q: How many people were in the team on the start of the project?
J.K.Hou|TRXMarket: We are a small team with strong power. Now, we only have 12 employees to cover development, product, operation, marketing etc. We don’t have a very specific division of work, everyone is trying their best to make TRXMarket to be a better product. And one more thing. If you are interested in working with us, you can contact our admins to get detailed info.
Q: Whether TRXMarket will provide instant exchange?
J.K.Hou|TRXMarket: Yes, we do have a plan on this. Instant exchange is a very strong demand of wallet or dex users, they are not very sensitive to price, but they want to get the token they want ASAP. Since TRXMarket has the best volume of a lot of TRON tokens, we have advantage to offer the most reasonable price for instant exchange users. But comparing with other urgent features, instant exchange can not get the highest priority. We definitely will release it, but we need time.
Q: It is really free fee? TRXMarket seems to have no fee. Is it temporary? 0% transaction fee where you get profit from?
J.K.Hou|TRXMarket: Yes, we are totally free. Before we find an appropriate way to share our profit with community, we will stay free. Welcome to invite your friends to use TRXMarket.
Q: What makes TRXmarket superior?
J.K.Hou|TRXMarket: I think we have three advantages at least. Firstly, we are the only one of all the SRs who dedicate to build a strong trading infrastructure in TRON ecosystem. We have a good relationship with TRON foundation and get a high recognition from them. Secondly, we have the biggest share of trading users of TRON and the best community already. We are more confident than anytime. Thirdly, we have a lot of partners in TRON ecosystem like TRONSCAN and TronLink. They are awesome teams like us, we can achieve a bright future together affirmatively. And one more thing again. As you can see, we are the only DEX which based on TRON recorded by CoinMarketCap.
Q: Where do you see yourself in the future?
J.K.Hou|TRXMarket: TRXMarket has a simple but unique vision. We think every token born to be traded. If a token can not be traded, it will lose the meaning of existence. But now, we can see a lot of exchanges are adding different obstacles to prevent token being traded. We wanna change the trend. In order to protect the interests of our users, TRXMarket do have some obstacles now. But trust me, we are trying our best to list more tokens, and we will make token listing easier. We wanna be the trading infrastructure of blockchain world. We know the journey is sucked, but we love it.
Q: How transparent is TRXMarket?
J.K.Hou|TRXMarket: Every transaction in TRXMarket is recorded in blockchain, can it be more transparent?
Q: How can you be sure that a dapp is legit & not a scam, what are some things to look for when choosing a trustworthy dapp?
J.K.Hou|TRXMarket: This is really a tough question. Although we will give an overall review on every aspect we have seriously considered, but honestly, we can not 100% determine whether a token is a scamor not when we list it. I think this question can only be solved with the power of our community. Scammers can fool a person or even a team, but he can not fool everyone in the community. We are trying to create a smooth communication channel between the community and our team. Once it is done, maybe scam won’t be a question anymore.
J.K.Hou|TRXMarket: Nice to talking with you guys. Thank you for your time!
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