AMA Recap 404 Daily Crypto with OTC Space
On 12th July 2021, OTC Space io conducted an AMA in the 404 Daily Crypto. Our guest is OTC Space team.
Lots of questions as usual from the Community about OTC Space progress. OTC Space team took part in a very interesting AMA session which included Project introduction, Questions from live AMA session with the 404 Daily Crypto community. If you missed the AMA in person, read this recap for a deeper insight into OTC Space.io.
Let’s take a look at the most interesting points of our conversation
Before we go any further, please introduce yourself, your background and your roles within OTCspace project
Hello everyone, I’m Alex and responsible for communication and frontend.
I worked as a software developer in RMT (real-money-trading) field for MMORPG. My previous project was Honorbuddy (Bossland GMBH.
Q1. Can you briefly introduce OTCspace to our community? And how is the story behind the OTCspace creation?
OTC Space is the first decentralized deliverable futures Over-the-counter market protocol.
It aims to unlock the liquidity of digital assets during lock-up periods based on deliverable futures contracts and collateral systems.
We have noticed several problems on the over-the-counter trading like lack of security, decentralization, automation, anonymity, presence of third-party risk and decided to resolve them
Q2. What is so exciting about OTCspace, which might make OTCspace different from all other projects out there?
OTC Space has unique deliverable futures collateral-based DEX and P2P OTC Desk and there are no any competitors providing the same trading experience.
Also we have some bonus features like OTC Swap, escrow trade which is free of fees compared to other projects.
Q3. Please provide some information about your Roadmap, How OTCspace is progressing so far? And what OTCspace is currently focused on?
Q3 2021 Market Alpha ✅
OTC Swap (August)
Q4 2021 Market Beta and OTC Escrow Trade
Q1 2022 Market v2.0
Q2 2022 DAO Governance (votes, decentralized Contributors Treasury)
Q3 2022 Launchpad for new projects
Q4 2022 P2P OTC Desk
Q4. Please tell us more about $OTC token Tokenomics? What utilities does the $OTC token have, and what benefits will tokens holders get?
OTC Token designed to cover trading fees on collateral-based exchange app (as mentioned above, Swaps and escrow trades are free of this charge). Also, OTC Token allows to participate in OTC Space Governance, letting them to take decisions and reward contributors from Treasury.
Q5. What are some achievement that OTCspace has achieved so far? And what are OTCspace upcoming plans, Especially in 2021?
We have just finished the development of futures smart contracts and DEX Matcher which requires some time for testing and frontend integration. Our main goal in 2021 is to implement the fully functional main app.
In the world cryptocurrency competition, features are of the utmost importance to attract investors and the community! Can you provide a list of killer features that scare your competitors over your project?
All our apps are killers for competitors.
Deliverable futures collateral-based DEX and P2P OTC Desk due to its uniqueness and we haven’t any competitors for this feature at all.
OTC Swap is not a new idea, it’s more like a bonus feature. OTC Space aims to be an all-in-one over-the-counter trading platform. So we decided to make it free of charge and that’s something competitors can’t afford.
So many projects just want to talk about “long term vision and mission” but what are your short term goals? what is the #OtcSpace revenue model? In what way do you generate income/profit? What are you focusing on right now?
To be honest, OTC Space revenue model is pretty simple. It is a trading platform, so it charges trading fees in our native token. Trading of digital assets during the lock-up period is a specific type of trade so we can afford to charge higher fees compared to traditional crypto trading operations. Current OTC markets are something private and behind the scenes. So our short term goal includes mass adoption and community building via a huge and viral marketing campaign.
On which types of Industries & user base OTCSpace Token project is mainly focusing on?Do you plan to establish partnerships with local cryptocurrency developers in each country to make the use of OTCSpace more global?
First of all, we are focused on the current OTC community to empower their trading experience. Decentralized and safe solution will involve smart money as well. OTC Space has no location bindings and is available worldwide.
Do you have any plans to attract non-crypto investors to cryption who are still not in the crypto world specially as a new project entering to crypto. What are the plans to increase awareness about cryption around in non-crypto space?
Derivatives trading is more suitable for experienced traders. Our main goals are a mass adoption among the current community and moving OTC markets from the shadows.
As an individual user, what ways can I contribute to project growth? Do you have an ambassador program and what are its benefits?
We propose to create a true DAO where anyone who can prove their skills and community benefits can join the team and be rewarded from Contributors Treasury. Contributors Treasury is a pot of funds collected through trading fees. The funds held in the treasury can be spent to reward active contributors who make significant improvements to the platform.
What is the $OTC token list plan? What will you do in the future so that your token can be listed on other exchanges and even more dramatically increase the transaction volume?
OTC token will be listed on decentralized exchange on July, 21st. We have a few agreements but,unfortunately, we can’t reveal the names but probably you will see OTC on centralized exchanges this month.
I see you did a lot of AMAs this month, other than to promote your project what is your goal? are you looking for a loyal community? what do you think?
Project idea seems complicated for the majority and our goal is to explain it better
Is your project fully decentralized? There i see many projects claiming to be fully decentralized but they done their work in centralized club. How can we sure that you are fully decentralized?
It is impossible to create a new project and call it completely decentralized as there should be a team behind the scenes which should control the process to make sure it works fluently.
We will completely decentralize our platform according to the roadmap prior to Q2 2022.
-How do we invest in the, project??”
-Do we have a minimum, requirement to be eligible????? Please share with us.
Our private sale whitelist contest is live and will be finished on July 16. Everyone can participate by completing simple tasks. There are 200 winner spots.
Is this your project only for prime investors. how about others with, small funds is it open to everyone?
I guess I have answered above. Yes, all token sales are eligible for community members.