apM Coin AMA Highlights 2/2: Celebrating APM/USDT Market Launch on Bittrex Global
For a previous series, find here!
apM Coin AMA Highlights 1/2: Celebrating APM/USDT Market Launch on Bittrex Global
Technology
Q. How does blockchain technology work on apM Coin’s customer rewards management platform?
A. The state-of-the-art technology is applied to apM Coin’s platform, and blockchain is one of them. By applying blockchain, the platform can enhance transparency, security and interoperability of the system. Thousands of B2B business transactions simultaneously occur in three apM malls, so the platform should transfer and share real-time information fastly and securely.
Also, blockchain can tokenize customer rewards which are difficult to be hacked, forged or changed. Blockchain can also enhance interoperability between different rewards issuers on the platform, which can allow us to make easy with cooperation from many global companies.
Q. Twitter user NickOxa — What are benefits of your user solutions? How does apM Coin ensure user data security?
A. apM shopping mall is a huge offline B2B platform where massive amount of valuable market data is dispersed. This is where apM Coin grasped the needs to establish a customer rewards management platform that efficiently collects the dispersed data and improve customer services based on the data collected.
Security is an important part of blockchain. In a blockchain-adopted platform, all customer rewards can be tokenized with eigenvalue, which makes them hard to be hacked, forged or changed. Also, apM Coin project will manage a customer reward system across multiple nodes, so the platform can limit operational risks, enhance security and reduce costs of trust.
Business Model & Partnership
Q.Twitter user Edi — Will apM coin support a staking model in the future? And will there be staking rewards?
A. For your reference, apM Coin is not minable and its maximum token supply is same with the issued amount, 1,812,500,000.
Actually, we have a staking model for our service users, which is described in our whitepaper. When buyers want to use some facilities and services exclusive of apM shopping malls, they are required to deposit a certain amount of apM Coin tokens. Depending on the staked amount, they can receive tiered benefits which includes exclusive access to VIP lounge, residence hotels, beverage services, translation services and others.
Q. Twitter user AirLion — Most investors only focus on the price of the token in the short term instead of the real value of the project. What will be the benefits for long-term investors?
A. One of our key strengths is that we are a real blockchain application project developing with the leading corporation, 1,300 wholesale brands and thousands of their loyal customers. apM Coin’s customer reward platform is to be adopted for establishing the digital customer reward and payment platform of apM malls — apM, apM PLACE and apM Luxe. apM shopping malls with 1,300+ wholesale brands are visited by average 10,000+ buyers on a daily basis and the number of its annual cumulative buyers reach to 1.5 million. Also, most buyers revisit the apM shopping malls every two weeks to place orders, which means that apM shopping malls have built business knowhow over two decades as a leader of Dongdaemun wholesale fashion market. They know what customers and wholesalers want.
Utilizing their business knowhow and consumer base, we will develop and provide efficient and effortless user-friendly services that meet the needs of our users that include 1,300 wholesale brands and thousands of customers. The blockchain applications in the Korea’s leading wholesale fashion malls! I think this will explain our competitive advantage in short term, not to mention long term.
Q. Telegram user Brian Wang — Why did you choose Bittrex for APM’s first exchange listing? Because your project base is highly focusing on Korea and many Korean users actually use Korea exchanges rather than Bittrex. Is there special reasons?
A. Last November, to celebrate APM’s first exchange listing on Bittrex Global, we held apM Members & Bittrex Global Sign-up Event in apM malls, Seoul, Korea. During 11 days of the event, more than 5,000 customers joined the event and signed up for apM Members and Bittrex Global exchange.
Bittrex Global is the most trusted global cryptocurrency exchange in terms of fast transaction speeds, strong security and strict regulatory compliance. As I mentioned earlier, apM, apM PLACE and apM Luxe are the largest wholesale fashion malls in Seoul, and the mecca of K-fashion. More than 80% of the malls’ buyers, who will be our major service users, come from abroad. So it is important that our users can have secure and safe access to our services and tokens. We thought that Bittrex Global, one of the safest and most trusted global exchanges, would be a great stepping stone for our global users to easily and safely access apM Coin.
Future Plan
Q. Telegram user NoMore Investor — Do you have any partnerships with other projects to focus in the near future?
A. We’ve been always interested in cooperating with legit partners who can grow our ecosystem together and better. Cooperation with other companies/projects will be conducted under the objectives to provide more values to our ecosystem participants — wholesalers and buyers. In this regards, we are planning to cooperate with hospitality industry related companies like travel, lodging, F&B, logistics companies, considering 80% of apM customers are flying outside of Korea on regular basis.
However, as for now, we are focusing on launching our services in the apM malls for their customers and wholesalers. After the service launch, creating a solid but active user base, we will expand our service areas with other partners to provide the service what our buyers and sellers want.
Q. Twitter user xZcoS8OcTKpZ9Jw — If apM Members mobile app is launched, do you have any plans to add bank account or other payment services to your services? Like Samsung Pay or Danal Pay, etc.
A. When we conduct the business, we put legal compliance and user satisfaction first. So if this additional payment options are what buyers and wholesalers need and promote more business transactions, as long as these services comply with Korean government’s regulations, we will add them on our mobile app.
Q. Twitter user bitgogo3 — Do you have any plans to collaborate with fashion weeks or do pop-up flea markets with various brands?
A. Interesting question. B2B fashion market is somewhat different from the B2C fashion market. Brands joining fashion weeks tend to focus on increasing their brand presence in the industry, especially targeting journalists, industry figures and general public. Flea markets are much more likely to C2C markets.
The majority of wholesale brands in three apM malls have built quite strong brand presence in wholesale fashion distribution market for two decades, growing with apM malls. They are pioneers of the Korean fast fashion industry; some founders of well-known Korean premium brands started their business in apM malls. You will be amazed the market share of their clothing in Asian retail apparel market.
So as I explained earlier, business cooperation will be proceeded for mutual benefits of apM Coin, partners and our actual users. If we can find the window to create values for our users, we will definitely expand our platform services with fashion weeks or flea markets.
Q. Twitter user JesseBrule — When can we use APM services? According to your articles, it’s supposed to be this month. Are your services live this month as scheduled? What’s your next plan?
A. Yes, we’ve planned to launch our service starting with apM Members mobile application this spring. The app has successfully finished the stress test and is ready to launch. However, due to current COVID-19 situations, the launch schedule is delayed. Wholesalers and buyers are our significant ecosystem participants, and the project aims to cultivate sustainable growth of this B2B clothing business, sharing benefits with them. We look for the best time to launch our services when they are back to the business with safe and healthy environments.
In the meantime, our dev team is working on updating technology features to provide a more user-friendly, stable and effortless service environment.
Q. Telegram user Bhaskar — The issue that is currently on everyone’s lips is that of the COVID-19 pandemic, which has affected the world economy, this was reflected even in the sharp drop in BTC. How has this situation affected the apM project? Have they had to cancel face-to-face events and paralyze their schedule? What plans do you have to overcome or recover what is lost once we manage to get out of this pandemic?
A. Yes, the outbreaks affect every industry and our everyday life. As I explained earlier, we have decided to delay to launch our service till this situation gets better. Because the initial and most active users of apM Member mobile application will be customers and wholesalers of apM malls. We always consider the feature of our users and wholesale industry whenever we plan from business and tech development to marketing activities.
Thankfully, apM malls have received lots of credits from wholesalers and customers. Facing this hard times, the group announced that they support their wholesale brands that are their tenants of apM malls, offering 20% discount on rental fee and 50% discount on maintenance fee from the wholesalers for two months. This shows apM Group values their tenants who are 1,300 wholesale brands, and the wholesalers also show strong trust on apM Group. We believe this strong bond between apM malls and wholesalers will be a great stepping stone for our service launch and business expansion. Because apM Coin has name of apM in its project and will be adopted in apM Group with their full supports.
The service launch is delayed though, we can have more time to develop our system efficiently and securely. And we think the specific date for service launch can be decided in May or June, when current situation is improved.
Wrap-up
Q. Where can we find more information about apM Coin?
A. Our official communication channels for sure. We are regularly updating our progress and news on these channels. Please join our Telegram community (https://t.me/apmcoin_official) and Medium (https://medium.com/apmcoin) to keep updated on apM Coin!
We are currently running the APM/USDT market launch event on Bittrex by next Monday.(https://bit.ly/3aWvBMo) I think you will also like our community boost event too. Join our community and share your thought for our community growth.
apM Coin Official Communication Channels
Website | Telegram Announcement Channel | Telegram Global Community(English)| Telegram Korean Community (Korean)| Twitter
