ImpulsX Live AMA 10–05–2020

https://impulsx.io/

Some members of the community asked me to write a blogpost describing what was said in the ImpulsX AMA of 10–05–2020. In this post I will sum up the most important points that were being discussed and it is also a nice overview of the past present and future of ImpulsX Crypto Exchange.

First of all, I would like to thank all the community members helping out in making this project a success. Without you all this wouldn’t have been possible. And I would like to thank all traders on ImpulsX for their loyal custom.

The points that were discussed in the AMA:

1. Achievements:

• Platform is running for one month now.
• Implementation of Global Order Books.
• IPX token was launched.
• Swap from BZX/VMT to IPX went well, we estimate that almost all of the old tokens were swapped to IPX. If there are still people who hold these old tokens, please contact us and we will try to swap those tokens for IPX.
• Various promotions to boost the amount of users and volume were done. More marketing will be done after we introduce new features to the exchange.
• Various tutorials were recorded, thanks Arm In Wealth for that.
• Social media was launched with many community members helping out, thanks for that!
• ImpulsX has around 10.000 users at the time of the AMA. Not all have performed KYC.
• Some countries were excluded because we received many fake documents for KYC. We are discussing to open these countries again when our team is bigger and we have the means to better deal with these submissions.

2. Future plans:

Attract more users by adding more features to the exchange. What we will introduce are the following features:

• Arbitrage trading. Will work with different tabs for every external exchange that is connected to ImpulsX. Users will be able to choose a certain exchange and coin pair and see the current price and orders for that pair. When there is a difference in price between exchanges, they will be able to buy on one exchange and sell on the other and thus generating a profit. All of this is being done from within the ImpulsX exchange so no need to have funds on various external exchanges, all can be operated from within ImpulsX. Probably this feature will be implemented in June 2020 and we expect this to be huge as it is a unique feature!
• External exchanges connected through the Global Order Book. We plan on connecting 25 of the top exchanges to our exchange. With every exchange and coin pair added to the exchange, the number of arbitrage opportunities also increase.
• Introduction of the Ad-network. We are planning to create a seperate page, accessible from withing ImpulsX where users can click on PTC ads and earn extra tokens by doing so. We are discussing on introducing a new token to handle this which will be built specifically for these tasks. The users earning these tokens by clicking daily will be able to exchange these tokens for BTC or another coins and make extra money doing so. They can also choose to hold these tokens and speculate on a price increase of course. With the profit of the clicks we will buy-back the tokens monthly which will result in a price increase of these tokens.
• Margin trading and lending.
• Introduction of Mobile apps for iOS and Android.
• Listing of IPX on more exchanges. Listing fees are very high so listing on bigger exchange is not very feasible right now. Of course we are positive that in the near future we will be able to be listed there.
• Listing of the exchange and IPX token on Coinmarketcap, Coingecko, Blockfolio and Delta app. Requirements for listing on those websites/apps are pretty high so while the plan is to be listed there, right now it is too soon.
• More use cases for IPX token. Polaris Universal (Darren’s company) has several apps in the works and we are planning to be added as a payment option to these apps which will greatly increase the adoption of IPX in the market.

3. Announcement:

• IPX trading competition

We are very excited to announce this amazing competition that will reward all participants and should make every participant happy! 😃

Introducing “IPX Trading Competition” 🔁

Let’s show the rules, its fairly simple: 📄
1- Every trader that buys 100K IPX will get a ticket. 🎫
2- Every trader can gather as many tickets as he/she wants. 🛒
3- At the end of the competition, a draw will be made on a live meeting to announce the winners. 🎉

The prizes? We are not here to waste your time, we are here to give real interesting prizes, here they are: 🎁
1st Prize: 100 USDT! 💸
2nd Prize: 50 USDT! 💸
3rd Prize: 30 USDT! 💸

Great rewards? Guess what? We don’t want any participant to go out of this competition without a prize, that’s why we will reward every non-winner participant a bonus of 2.5K IPX per ticket! 🎉👏🏻

Let’s summarize for you the benefits you are getting from participating in this competition: 🎊
1- You will get yourself a nice stack of IPX, which with the coming features, improvements, and developments we are aiming to increase its value. 🔝
2- You can use this amount to participate in the Hodling Rewards, which will bring you more IPX! ↩️
3- You will have a chance to win one of our nice prizes. ✅
4- If you didn’t win, you will still receive the bonus of 2.5K IPX per ticket! ✨

The competition will start on Sunday 10th of May at 16:00 PM UTC, and will run for 18 days and will finish on Thursday 28th of May at the same time. 📅
The live meeting for winners announcement will be on Saturday 30th of May at 11:00 AM UTC.

Important Notes: 📝
1- We will count your net bought IPX. This means we will subtract the amount you sell from the amount you buy. For example, if you bought 300K and sold 100K, you will have the net bought amount of 200K IPX, which will give you two tickets.
2- You can buy and sell IPX on all available markets on ImpulsX. Be careful, this is not a general competition, this competition is only for IPX.❗️
3- Fractional amounts will not be rounded up. For example, if you buy 160K, you will get one ticket. We only count how many full 100Ks you have without rounding.
4- We will have certain measures to ensure no fraud or manipulation takes place, such as one buying or selling among his/her accounts to cheat the system. 🚨
5- Records of tickets per user will be announced periodically on the news channel, so you can check your ranking. 🎙
https://t.me/impulsxnews
6- To give traders more opportunities to win our USDT prizes, a trader can only win one USDT prize. ☝🏻

It’s simple, the more tickets you have, the higher the chance of you winning our amazing USDT prizes!
If not, you will always win bonus IPX! 🎊

4. Questions from users:

• How many exchanges are connected to ImpulsX now and when can we expect to get more exchanges?
  Right now we have 2 external exchanges connected: OKEx and HitBTC.
  All integrated in an external orderbook but handled on ImpulsX. After introduction of the arbitrage you will be able to choose all separate exchanges through a tab and trade on that exchange without leaving ImpulsX. We want introduce 25 of the top exchanges to trade on from within ImpulsX, think of Binance, Bittrex and other bigger exchanges.
• Will there be tutorials explaining arbitrage trading?
  Yes, of course there will be videos created to explain all the steps.
• After the holding rewards, what are the plans for future airdrops? And is the 50M tokens reserved for the holding rewards only for holding rewards or also other airdrops?
  50M IPX are reserved only for the Holding rewards, excluding other airdrops or competitions.
• When will IPX be added on other exchanges?
  Soon we will be listed on EurekaX as it’s Darren’s exchange so there will not be a listing fee. Listing fees on other exchanges are pretty high so that is a point to consider. It doesn’t make sense to be added to a small exchange that doesn’t have a big volume. So we will focus on listing on a decent exchange with quite some volume.
• What has IPX realized in the first month?
  Was already discussed before but I hope everyone realizes that development takes time and that big changes cannot be implemented overnight. In the beginning we mainly focused on ironing out the small issues of the exchange. Right now we can focus on bringing more features to the exchange.
• EurekaX introduced a staking pool, will you introduce this for ImpulsX as well?
  We want to introduce staking as well but first the devs have to change the blockchain to a sidechain of ERK. This will give us the ability to introduce staking and possible masternodes as well. Right now people can take advantage of the Holding Rewards, which give users a holding percentage of up to 2% per month on their held tokens. When the sidechain is ready, you will be able to stake your coins by keeping them in your external wallet. Steking from within the exchange could be possible in the future, we will keep you posted on this.
• Will the Holding Rewards be dropped to the external wallet or the ImpulsX wallet?
  They will be dropped in the external wallet. After calculation and addition, the amount will be calculated again and that amount will be counted as the holding amount for the next round.
• Is there a timeframe to implement automatic withdrawal of funds?
  This is challenge because we work with external exchanges. Funds are also kept in external exchanges so it is not easy to implement automatic withdrawals because right now the process is too complex.
• When are you going to release the whitepaper?
  We think whitepapers are outdated. Things change fast in crypto and a whitepaper should be rewritten every month. So, right now, we are writing a general whitepaper but we will not be going into much detail as, in our opinion, it doesn’t bring much extra value.
• When are you going to release the mobile app?
  Developers are working on the mobile app but there is not a release date yet.
• With arbitrage trading, is it required to hold a minimum amount of IPX?
  At the start the arbitrage will be mainly on the BTC/USDT pair and is is not required to hold IPX for this. Later we will add the arbitrage for other coin pairs as well. Arbitrage will be manually in the beginning and later could be done automatically by reacting on automatic signals through an arbitrage bot. There might be a subscription required for this but we are still dicussing this.
• Will ImpulsX use the arbitrage bot to grow the revenue?
  Yes, we will use it to trade on arbitrage opportunities. The revenue we make will be shared in the form of buyback of IPX tokens. And also 10% will be shared with charities. So the revenue will benefit the community as well.
• When are you planning to add more trading pairs?
  They will be added after the arbitrage is ready, from June on.
• What are the social media channels of ImpulsX?
  
  ➡️ Telegram news channel: https://t.me/impulsxnews
  ➡️ Telegram discussion group: https://t.me/impulsxcryptoexchange
  ➡️ Facebook: https://www.facebook.com/impulsxofficial/
  ➡️ Twitter: https://twitter.com/ImpulsxOfficial/
  ➡️ Youtube: https://www.youtube.com/channel/UC-rPZkbyaXO_Rz9Vt7sJgUg
  ➡️ Instagram: https://www.instagram.com/impulsxofficial/
  ➡️ Reddit: https://www.reddit.com/user/ImpulsX_Official
  ➡️ Bitcointalk: https://bitcointalk.org/index.php?topic=5235151.0
  ➡️ Medium: https://medium.com/@impulsxcryptoexchange
• Suggestion from a user to hold IPX in ImpulsX to take part in arbitrage trading.
  Good suggestion but our main source of income is trading fees. By requiring people to hold tokens, the number of trades will decrease and that is not good for us. So, in the beginning we will not require this but may be introduced as a form of subscription to use the automatic arbitrage bot.
• IPX price is pretty low, do you have plans to increase the price?
  We are only one month old so you cannot expect the price to rise to the moon. We have a new Trading promotion, we have the Holding Rewards, these will definitely help the increase of the IPC token. All the new features being introduced will also attract more traders and help in increasing the price of the token.
• I want to withdraw half of my tokens but I don’t want to use the Eureka wallet. What are my transfer options?
  You have to use the Eurekacoin wallet as IPX is built on the Eureka blockchain. IPX is not supported by any other wallets yet.
• When the IPX buyback program will start?
  This will start when ImpulsX has a profit. We are estimating that this will be after the introduction of the arbitrage function. Armin adds that when you want to see the buyback to start, then start trading because that will bring profit.
• What is the current trading volume on ImpulsX?
  There is a page for that: https://impulsxapi.impulsx.io/basic/daily_volume
• 3 people who won the 500 IPX giveaway for commenting on the video:
  - Arthur Buzzi
  - Sounds
  - William Carr
• What is the minimum amount the be eligible for the staking rewards?
  Minimum amount is 1000 IPX.
• People without a PC can also participate in the holding rewards?
  Yes, they can as we have an Android wallet available as well.

We believe it was a very good session and the users seemed to believe so as well. In the future, we will definitely be hosting more live videos as this is a great way to interact with the users!

To end this post, I would like to summarize all the running promotions at this moment which you can participate in:

• Signup bonus.
  This is an ongoing bonus and will run until we are out of IPX to give out.
  Every user that signs up with ImpulsX and performs KYC will receive 400 IPX in their ImpulsX wallet. Sign up here: https://impulsx.io/
• Referral bonus.
  This is also an ongoing bonus and will run until we are out of IPX to give out. Every referral of you will earn you 250 IPX when this referral signs up with your link and performs KYC. You can find your referral link here:
  https://impulsx.io/referral
• IPX Trading Competition with USDT Prizes! 💸🎉
  1st Prize: 100 USDT
  2nd Prize: 50 USDT
  3rd Prize: 30 USDT
  And all non-winners participants will get IPX as a bonus! 👏🏻
  Check the details of the competition on our Telegram group and channel:
  https://t.me/impulsxnews
  https://t.me/impulsxcryptoexchange
• IPX Hodling Rewards.
  The idea is fairly simple, all you need to do is to hold your IPX tokens in the offline wallet for One Month to be qualified for an amazing reward, how cool is that?!
  You will receive a percentage of your holding as a reward according to your group 🎉
  Group distributions are:
  - Group 1: if you hold 1,000–10,000 IPX for one month, you will receive 1% of what you hold as a reward 🎁
  - Group 2: if you hold 10,001–50,000 IPX for one month, you will receive 1.25% of what you hold as a reward 🎁
  - Group 3: if you hold 50,001–100,000 IPX for one month, you will receive 1.5% of what you hold as a reward 🎁
  - Group 4: if you hold 100,001–500,000 IPX for one month, you will receive 1.75% of what you hold as a reward 🎁
  - Group 5: if you hold 500,001+ IPX for one month, you will receive 2% of what you hold as a reward 🎁
  Important notes: 📝
  1- Tokens should be held for one month for rewards qualification, the date of start and end will be announced.
  2- ONLY tokens in offline wallets are counted.
  3- Data will be automatically taken from the block explorer. If you withdraw any amount during the month period, you will not be qualified for the reward.
  4- You can download your desktop offline wallet through this link: https://www.eurekacoin.io/download.php
  Tutorial can be found here: https://impulsx.io/assets/docs/IPX%20Manual-wallet-setup.pdf
  Or you can use the tutorial bellow to install your wallet using chrome extension (Recommended)
  https://impulsx.io/assets/docs/IPX%20Manual-chrome-wallet.pdf
  5- The rewards will continue every month until the allocated 50M IPX is fully claimed. As long as it is not fully claimed, you have a chance every month to earn!
  So in summary, these are the procedures to be qualified for the rewards: 📋
  1- Install your offline wallet. ⚙️
  2- Send and store your IPX in the offline wallet once the exchange is launched. ↪️
  3- Lockup your tokens for the designated period that will be announced. 🔐
  4- Congratulations, you are successfully enrolled. 🎊
  The first month of holding will start on 30th of April 2020.
  At this time, data from the block explorer will be saved and will be checked back one month after to verify the qualifications.
  The first month of holding will end on 15 May 2020 at 08:00 AM UTC 📅
  This is also the date when the second month of holding will start. 💫
  So, hold your tokens during the mentioned period in your offline wallet and enjoy your rewards! 😃 Keep hodling, keep earning 😉

Best regards,

Mark Verdellen | ImpulsX Co-Founder