FinNexus Weekly-chat recap 27/04/2020

Veer Singh

Published in

Phoenix Finance

5 min readMay 3, 2020

Participants:

Boris Yang — FinNexus Founder & CEO

Ryan Tian — FinNexus Financial Specialist

Discussion:

Ryan Tian: It is especially important to offer the market something different from the old fashion products.In context of general and also for FinNexus ourselves. That’s why we are making great progress on the development of our real world tokenization model and decentralized models.

The crypto market needs something safe, solid, down-to-earth models and projects. On one hand, we give the market the safest token distribution model. that is backed by real cashflows, the holders are safe and with the only upward potential.

Serg: I totally agree. Just triple check everything before releasing. We don’t want any hacking or Something like that.

Boris Yang: Another good news is that BTC price is showing some different curve against the stock markets last week.

Ryan Tian: Hopefully, that will bring some vitality to the market.

Victor: We all hope for that. How long do you think it’s possible for the BTC price to stay under its cost production? I’m thinking about the upcoming halving..

Ryan Tian: It is very difficult to make predictions on the price right now and I think this halving will be totally different from the previous ones. There are so many parties of interest or stakeholders to balance, the miners, the whales, the coming legacy financial investors, the money printing, the government regulations.

Boris Yang: In this week We will release new Wandora version with BTC price prediction. One hour for each round.

Question 1:

Danail Steganov: Why did you choose Bitrue to do your ICTO?

Professor K: Bitrue lists a lot of great DeFi tokens.

Danail Steganov: Examples?

Professor K: KAVA, LUNA, LINK, LRC, BNT, KNC, ZRX, ZAP, OCE… it’s a lot.

Ryan Tian: Bitrue is legit and down-to-earth. They have many DeFi listings and the biggest XRP army there, where we will build our tokenization models. Also, we will be the first one on Biture doing IEO, well after their native BTR tokens. It is the most suitable one at present. Of course, we will keep on listing on other exchanges later.

Most of the DeFi’s did listing there, and we will bring them something very different, starting from the time of token offering.

Boris Yang: There are really lots of exchanges. Most of them do IEO or listing as routine. We have great support from Bitrue which has some real volume and users.

Ryan Tian: Dont forget this chart.

Just an example. If the price drops below the issuance, people will do the conversion and there will be arbitraging opportunities.

Max Serbov: How do you think the price will go this way?

Ryan Tian: You can take a look at the explanation at the link here: https://medium.com/finnexus/deciphering-the-finnexus-token-offering-model-the-icto-6029dbe02610

Max Serbov: Can you elaborate on the price action of FinNexus? I do not understand what you mean by price dropping below the issuance price leading to arbitrage opportunities.

Ryan Tian: Please check the link above and you will have all the questions answered.

Boris Yang: You can also refer our FAQs here: https://medium.com/finnexus/q-a-about-the-finnexus-token-distribution-model-icto-3d5179abcc99

Question 2:

Danail Stefanov: Does Bitrue require KYC and what is the minimum investment?

Ryan Tian: Yes, they are centralized exchange. The minimum is under $10 USD.

Danail Stefanov: What will be the price of FNX during the ICTO?

Boris Yang: The issuance price will be $0.1 USD.

Ryan Tian: There’s a 5% discount when you purchase with BTR. Considering the conversion benefits, it is equivalent to about 30% (20%+10%) APR, well at least!! Of course, FNX price may go higher, but this return is somehow a guaranteed one.

If you buy with WAN through wallets, there will also be discount.

Pandas: What do you mean? Without the exchange? From desktop?

Ryan Tian: Yes, Wan holders can buy FNX directly from the Wanchain Wallet. FNX tokens are built on Wanchain at present.

Bacr: Do we have to lock them for a certain period? or we can buy them before ICTO?

Ryan Tian: No lockups.

Boris Yang: If you are a WAN holder, buy it on Wanchain wallet directly is easy and with discount too. The sale on wallet starts at the same time as the Bitrue offering.

Question 3:

Danail Stefanov: Do you plan to do some Activities here in the group as I see all this Bounty and Airdrop activities are coming from Bitrue team but nothing come from you?

Ryan Tian: Biture bounties are from us.

Checkout the list of bounties currently available here: https://www.bitrue.com/act/fnx

Boris Yang: Of course. The most important is we will give some special discount in the group but with cap limitation.

Ryan Tian: We really hope our token distribution model will bring sth quite different from the previous projects, and this ICTO is actually quite unique and never seen before on the market and the guaranteed returns or the floors of the tokens are secured by real world cashflows, not some inflation or token printing or Ponzi games.

Professor K: We’ll put out some info posts about the specifics of the token raise, more about what we’re doing with XRP, and our exciting new decentralized bitcoin options protocol within the next week. Stay tuned because we have a lot of info coming your way between now and May 11.

About FinNexus

FinNexus is building an open finance protocol to power hybrid marketplaces that trade both decentralized and traditional financial products. The FNX token will live on the Wanchain blockchain to take advantage of the most robust cross-chain capabilities currently available in the industry. The first products FinNexus plans on releasing will be innovative tokenized assets (available Q1 2020) with value based on real-world cash flows.