We have prepared this Q&A article which summarizes the main points of the AMA stream with Storiqa’s CEO Andrian Galkin that was run last Wednesday.
All you want to know about the project is here! 🌏
Here you can find summarized answers to the most interesting and important questions about Storiqa.
What is your stance on allowing electronic goods on the marketplace?
As you know from Storiqa’s WhitePaper, electronic goods have never been a part of our vision, as we focus on different categories. Moreover, electronics are much tougher to move across borders — for many products it is required to have special licensing, etc. However, we are working on listing electronic goods with a unique touch — anything custom-made or exclusive.
When is the release day?
We are expecting to roll out a polished, fully fledged marketplace in the second quarter of the year, most likely in June. At the same time, we are also sticking to our Roadmap: minimum viable functions will be launched this month (by the way, have you already checked the last big platform updates?).
If you can pay with BTC, ETH, and fiat, which are much more common than STQ, why would anyone buy STQ to pay for goods on the marketplace? It looks like you are making the STQ coin completely unnecessary.
At this stage of crypto economy development, it is too costly to use STQ as the only means of payments on the marketplace.
For STQ (or any other crypto) to be an efficient and cheap payment instrument there have to be a huge full-cycle crypto economy — meaning that those who receive STQ (e.g, Sellers or Storiqa as the company that runs the marketplace) need to be able to cover their own costs (salary, rent, materials, etc) by paying in crypto, which is not the case at this moment. Forcing all the parties to pay in crypto will only drastically reduce the demand for the marketplace — it would impose additional exchange costs (i.e., bank commissions), increase the learning curve for sellers (most of them are not aware of what crypto is), etc.
At the same time, our strategy allows people, who haven’t known anything about cryptocurrency, to learn what is it and to start using crypto as a payment method. We believe one day we will see STQ as the primary payment instrument. At this time, however, a combination of crypto and fiat is vital for the growth of Storiqa marketplace.
Will, we ever get Binance, Bittrex or other big exchanges after a product is fully launched?
Definitely. We have already started some preliminary work on joining a very major exchange in a couple of months.
I would like to receive my tokens. When will the KYC be opened again?
It’s not feasible now. The initial KYC window was open for 5 months. New window will require substantial spendings for upkeeping and KYC procedures. We will inform all tokenholders via emails and Social Media when it becomes possible.
When Ture bugs will be properly fixed? When will the Android version be released?
We are very sorry about the fact the app still has some bugs, and we keep on working on them. We closely monitor your feedback, and we are very thankful for it.
We expect that the Android version of the wallet will be released in March.
Still have some questions?
Great! Ask us everywhere with hashtag #stquestion, follow our streams, and stay in touch.
See you!
