Jul 9, 2021
AMA RECAP : DeFi Raccoons x Coinburp
Date : 6 JULY 2021
Host : SB
Guest : Coinburp Team ( Pete — CEO & Co-Founder).
INTRODUCTION.
SB | Admin @DeFi_Raccoons:
Please be so kind to introduce yourself to the community members 🤠
Pete:
Hey everyone, I’m Pete, CEO & Co-Founder of CoinBurp. It’s great to be here today — thanks for having me!
SB | Admin @DeFi_Raccoons:
Please share with us about your experience and work in the Crypto field.
Pete:
I’ve personally been in the crypto space for 7 years, starting my first crypto business back in 2014 called BitBroker, the first UK brokerage ever operating on P2P platforms like Localbitcoins.
I then went on to start my second business CoinBurp in 2018, a centralised crypto trading platform focused specifically on the retail market. CoinBurp is the #1 cryptocurrency platform in the UK based on TrustPilot reviews!
SB | Admin @DeFi_Raccoons:
Ok, once again welcome, glad to have you with us today! We like to start off with an elevator-pitch for the people that haven’t yet heard of Coinburp — Tell us what #Coinburp is and what are you guys trying to showcase?
Pete:
So CoinBurp is the #1 CryptoCurrency exchange according to TrustPilot UK as I mentioned, and we are currently building ‘Coinbase for NFTs’, a custodial DeFi NFT service where our customers can buy NFTs for fiat from marketplaces like OpenSea. We also plan to integrate more DeFi protocols for users to easily access via our app.
Sure — the issue we see in the retail market is that tonnes of people want to enter the NFT space, but the idea of non-custodial wallet and backing up private keys is a huge barrier to entry.
We will be solving this by enabling access to the NFT markets directly via our custodial wallets!
SB | Admin @DeFi_Raccoons:
As the crypto market is expanding, we are seeing the onset of the NFT Era — what hopes do you guys have from this.
How do you plan to implement NFT in your project?
Pete:
Right now in our insured custodial DeFi NFT Wallet, users can securely store their favourite NFTs. Check out this wallet in the iOS and Android app stores — just search for “CoinBurp DeFi”.
By integrating with OpenSea later this year, along with fiat on/off ramps, we look to become the easiest method to purchasing NFTs.
Furthermore, we’re creating our own free CoinBurp generative NFTs (Here’s a sneak peek —
SB | Admin @DeFi_Raccoons:
Why have you chosen opensea to integrate with.
What was the reason behind this?
Pete:
OpenSea are the #1 NFT marketplace in terms of the amount of NFTs available, even though you must have a non-custodial wallet to purchase them.
We also feel their UI can be dramatically improved, which is why we are creating our own NFT aggregator marketplace to showcase OpenSea and many other NFT marketplaces!
SB | Admin @DeFi_Raccoons:
Your crypto wallet has claimed to connect the worlds of CeFi and DeFi.
How are you going to achieve this and what is the mechanism behind this?
Pete:
The big thing for us is the use of FIAT on/off ramps to buy NFTs. When surveying our customers, we found that 40% of users were interested but hadn’t invested as a result of finding it too difficult to use. That’s where we come in 😏. We’re trying to make the process as seamless as possible to allow all technical abilities to be able to invest if they desire.
As an existing FCA-registered exchange here in the UK, we can provide our customers with piece of mind they’re dealing with a professional company.
SB | Admin @DeFi_Raccoons:
Who are the major Audience of Coinburp?
Is there any focus on non Crypto users, who don’t have any knowledge about NFT and DeFi?
Pete:
We are building for the inexperienced crypto users focusing on ease of use — the beauty being that it will cater to both experienced and inexperienced users.
We believe there are huge benefits to the technology in the DeFi space over CeFi, and passing this value onto our customers without confusing them with the underlying technology is the key to mass adoption.
SB | Admin @DeFi_Raccoons:
Partners play an important role for the marketing as well as development of the project.
Do you have any strategic partnerships that are backing your project?
Pete:
Sandbox.game, NFT Boxes, Avastars and BCB Group are our initial launch partners — and we’re not stopping there, more to be officially announced! So be sure to follow us to find out who else CoinBurp are partnering with.
SB | Admin @DeFi_Raccoons:
Users are typically concerned about safety when they participate in any Crypto project, so what has Coinburp done to ensure asset security for its users？
Pete:
When we release full FIAT on and off-ramp and custody (EUR & GBP), allowing users to buy NFTs directly from your bank account they will be protected using bank-level security. All our smart contracts are double tested by top smart contract auditors, ensuring the safety of our token ecosystem.
SB | Admin @DeFi_Raccoons:
In terms of value capture, what is the tokenomics of $BURP token, and how do you stimulate the users to hold your token in the long run?
Pete:
Of course, so by staking $BURP in our Non-Custodial NFT wallet, you become eligible to win rare NFTs from our selected partners. In addition, newly issued NFTs will feature a unique staking multiplier, thus increasing the benefits for holders in the future. But that’s just the start, on top of this users can also earn $BURP as we’ll be distributing 20% of our fees to $BURP stakers to ensure sustainability and keep it evolving for years to come. Full details here:
Here’s a quick breakdown of $BURP’s tokenomics:
500 million maximum supply to be reached by 2028
47% of these will reach end-users
11% to early backers and advisors
17% to private rounds
25% to be retained by the team
SB | Admin @DeFi_Raccoons:
How will Coinburp be different and more beneficial than other platforms in the market?
What is your USP?
Pete:
We’re an established, highly reputable existing blockchain business regulated in the UK and ranked number 1 according to TrustPilot UK. This puts us in a very good position to offer a DeFi and NFT product which a lot of the times we’ve seen come out of anonymous or lesser-known businesses — which is a risk from a security perspective for many users.
Our features include world firsts such as staking for exclusive and new NFTs, not just for an APY. The main problem the industry is facing is still a distinct lack of fiat integrations, and the fact that we’ve been trading for close to 7 years now means we already have all that infrastructure in place to solve that issue.
SB | Admin @DeFi_Raccoons:
And lastly, can you tell us a bit more about late 2021?
What plans does Coinburp have for the near future?
Pete:
You can find our full roadmap here —
But some things we’re most excited about are:
- $BURP
- OpenSea integration
- FIAT on/off ramps
-CoinBurp NFT game: CoinBurp CookOff!
LIVE AMA QUESTIONS.
Santana Skipper:
What total maximum supply of Coinburp ? I’m glad if you share the tokenomic? Why you don’t have a whitepaper/litepaper?
Pete:
Maximum supply of 500M to be reached in the year 2028. We have a tonne more information for you to check out on about.coinburp.com
Thonta Wellman:
What plans do you have to grow rapidly in terms of users, global market and partners? What are your strategies in building a big and strong community?
Pete:
Working across multiple continents with a wide variety of languages is key for us to grow worldwide. We will ensure all products we build cater for all experience levels!
Gbhj:
Can you share your roadmap with us? What is your main focus for this year and are you planning to list on big exchange?
Pete:
We will be the first project to EVER run 1 IDO and 2 IEOs at the same time! These 2 IEOs will list us immediately after our public sale, which will be at the end of this month.
Join our Telegram channel for all the latest news:
Blanche Trotter:
How team member are working now in CoinBurp Platform?
Pete:
We were a team of around 14 people until a couple of months ago, but have since grown to 35+ as we look to blitz scale CoinBurp. We have a mixture of developers, designers, marketing, support, and of course all our customers too who I would also class as part of the team 😀
Xxxxxxxxxxxxxxxxxxx:
@y3peto
From what I can read they plan to start enabling NFT purchases, but really your long term plan is to be the escrow fiduciary gateway to any DeFi system. That being the case, what other products are you interested in developing to create a broader DeFi system at CoinBurp?
Pete:
Anything and everything in the DeFi space! I feel the immediate focus after NFTs will be collateralised borrowing and lending as this provides huge benefits to what users have access to in CeFi currently!
Group’s Description:
An investor community for everything related to DeFi, NFT, IDO, Blockchain, and much more. We share our analysis, fundamentals and hold AMAs with all sorts of projects!
That’s all we have time for today, until next time, consider joining our socials underneath to join our DeFi Discussion!
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Now for a disclaimer — I’m not a financial advisor, anything you read on my Medium isn’t financial advice, it’s a log of myself doing due diligence on projects, please verify any and all information presented (error reporting welcome) and make your own decisions.
