[RECAP] AMA: Kommunitas x LocalTrade
Pavel Luchkovskyi from LocalTrade spoke in depth about his project during our AMA session. Feel free to read the recap below for those who missed the event.
SEGMENT 1: INTRODUCTION QUESTIONS
Question 1: Before we talk any further, please introduce yourself and your project to our community. And please explain to us what is LocalTrade?
Mr. Pavel: Yes, sure. As far as you already presented me — i will tell a bit more about LocalTrade
LocalTrade — is a centralized crypto exchange.
We are a place, where stories of successful projects and professional traders start! Our exchange is licensed by standards of the European Union (in Lithuania) and recently we have entered the TOP-100 list of CoinMarketCap Spot Exchanges. LocalTrade exchange offers more than 100 trading pairs, ~$350M daily volumes
Except for CEX, we have released cryptoprocessing infrastructure — 0xpay in May 2022, it makes it possible for any business to start accepting crypto payments, or set up a full-fledged crypto infrastructure without any complex coding
Question 2: There are many trading platforms out there. What makes LocalTrade stand out from the others? Please highlight your killer features?
Mr. Pavel: We’re doing our best at making our products friendly and simple. Our aim is to make our products simple enough to be accessible for those, who uses crypto first time in their life. But at the same time, all products have advanced features for the pro-traders.
That`s why we are building full-fledged ecosystem of products.
Centralised Exchange, DeFi Non-custodial wallet, Cryptoprocessing for Ecommerce, Telegram Wallet Bot and it is only beggining of our journey to the moon🌚
Last few month we are working hard on fiat-to-crypto solution on the top of 0xpay
Question 3: Can you share some details about recent major achievements done by your project? Also, what are the future roadmap & targets of your project?
Mr. Pavel: As I previously said — In May 2022 we released a crypto payment processing solution 0xpay. During the first month of beta testings it has processed more than $2M worth of payments.
Also, recently we released stablecoins staking on our CEX, to let our users earn significant profits with USDT or BUSD. With staking, our clients can earn up to 48% APR, providing liquidity to Margin Traders and 0xpay OTC Exchange
Apart from this, we’re almost ready to release a new product for the Ukrainian🇺🇦 market, which lets users buy, trade, sell and withdraw crypto to a credit card with 0% fees!
chainalysis recently released new report, where Ukraine is on 3 place of Global Crypto Adoption Index
And I think that this Telegram Bot with 0% fees for Ukrainian market would be booming
Question 4: What are the advantages of holding tokens as a long term investment? Can you tell us about the motivations and benefits for investors to keep your tokens long term?
Mr. Pavel: LTT token provides its holders with a wide range of benefits across almost any LocalTrade product. Discounts on fees on Spot Trading, fee discounts for enterprise 0xpay merchants (yes, businesses need to buy LTT to pay cryptoprocessing fees), participation in the referral program, and unleashing the new features in our products — that’s the reasons to hold LTT at the first glance.
Limited supply tokenomics and a huge number of possible use-cases make a positive influence on the token price in the long-term perspective.
Question 5: Marketing is an important element of any project, so everyone knows the potential of the project to achieve the set goals. What is the current marketing strategy to attract new users and investors to your project and keep it long-term?
Mr. Pavel: As our company offers various products for different markets, including b2b, we focus on obtaining new partnerships, like in the case of Kommunitas.
Apart from it, we conduct complex PR campaigns, where we introduce our products to new audiences from the EU, Asia, Africa, and CIS countries. This includes publications in best crypto-magazines, Ads, Influencers, and other activities.
SEGMENT 2: LIVE SESSION
Question 1: What are plans in for global expansion? Are you focusing on market at this time or focus on building and developing or getting customers and users, or partnerships?
Mr. Pavel: We are currently concentrated on European Union and CIS, cause recently we got a Lithuanian license, that gives us a lot of possibilities here!
But we are open for customers all over the world🌎
Question 2: Does your project support staking program? If yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?
Mr. Pavel: https://blog.localtrade.cc/stake-your-stablecoins-with-48-apr-ebad4540de3f
here it is🙌
Question 3: IMPORTANT QUESTION ? Audit is important for both trust and security. Have you done any audit of smart contract?
Mr. Pavel: We passed hacken audit for smart contract. And currently working with cer.live to get highest security mark for CEX.
Cause security of funds is our highest priority🔓
Question 4: Will there be buy back system or token burning in the future? Do you have any Anti-dump mechanism for holders who may want to dump during pump?
Mr. Pavel: 59% of circulating supply had already burned 🔥
And we are about to implement automated burning mechanics till the on of the autumn from Spot fees and Merchant fees
Question 5: How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?
Mr. Pavel: We have more than 5 years of blockchain experience, and LocalTrade team includes more than 60 high-end specialist👨💻👩💻
SEGMENT 3: LEARN AND EARN
Question 1: What is the staking yield in stackable coins at LocalTrade and what are the two stackable coins?
Answer: 48% APR
Question 2: What is the current price of LTT?
Answer: 0.117$
Question 3: What is the name of LocalTrade Ecosystem product for crypto businesses and ecommerce?
Answer: 0xpay
Question 4: What type of trading is not represented on the LocalTrade exchange: Spot, Express Exchange, Futures trading?
Answer: Futures
Question 5: Which European country has been licensed LocalTrade this year?
Answer: Lithuania
LocalTrade Official Links
🌐Website: https://localtrade.cc/
🐦Twitter: https://twitter.com/LocaltradeC
🔍 Medium: https://blog.localtrade.cc
💬 Telegram Group Discussion: https://t.me/lt_community
🔊 Telegram Announcement: https://t.me/localtradecc
🖇️ LinkedIn: https://www.linkedin.com/company/local-trade/
🔗 Facebook: https://www.facebook.com/localtrade.cc
