WeBlock AMA with MixTrust Exchange Recap: MixTrust is to create a hybrid and decentralized trading platform, the idea of WeBlock is the firm ground makes us work together.
On August 29th, Saffa, CMO of MixTrust Exchange, had a live ask-me-anything (AMA) in WeBlock Community-a well-established crypto community owned by WeBlcok (A full-service blockchain accelerator). Throughout the 80 minutes chat, Saffa deep-dived into MixTrust products as well as its financial ecosystem.
The below transcription from Saffa live stream has been condensed and edited slightly for clarity.
Guest Introduction
Saff is the CMO of MixTrust Exchange. She and her team used to be long-term investors in cryptocurrencies. She invested EOS，Bitcoin，ETH and so on. Because of Blockchain, they get together to make a new project named MixTrust.
About MixTrust:
MixTrust will construct an open, distributed, decentralized and integrated DeFi ecosystem, coordinate diversified finance through the MXT DeFi ecosystem.
Host Q&A Session:
Q1: What does MixTrust mean? What are the killer features that make MixTrust special?
Basically, MixTrust can not be called as a decentralized exchange yet. Our goal is to be a decentralized exchange. To explain it in brief, “Mix” means put something together, our intention is to create a hybrid and multifunctional decentralized trading platform that can achieve seamless asset synthesis, cross-chain transactions, and cross-chain lending.
In the decentralized network, the most important thing is to eliminate “trusted third parties”. We need to create a “machine trust system” that allows everyone to make sure the funds secure and create a machine trust system based blockchain. Definitely, there are many DeF projects, such as synthetic assets, decentralized exchanges and mortgage loan protocol.
Although they only solve the problems of assets and traditional financial derivatives on the real economic chain and blockchain-based derivative transactions, but not solve the exchange relationship between multiple assets.
The uniqueness of MXT is that it can integrates asset synthesis, cross-chain transactions and cross-chain mortgage loans in accordance with our goals, and we will realize the integration of traditional financial derivative products in our ecosystem.
Q2: As a new project established in this May, what are the reasons behind make MXT remain a high rank in Uniswap?
Although our project just be established in this May, we are trying our best to prove our progress and make us be known to more people in the past few months. In my view, our progress is inseparable from the support of technology and products. In the end of this month, we will release our new version of product, whih adds more features. And, we continue to do marketing to make more people know MXT, expanding the reputation and influence of our projects. Constantly looking for cooperation with various projects with high quality to expand the community. Thanks to our team members and all of the users.
Q3: What are your future plans in context with your recent partnership with WeBlock?
First of all, we feel honored to cooperate with Weblock, and also thank you for your support! Weblock is the one of the good partners of MixTrust, and has a good reputation and huge user base overseas. We also totally agree with the concept of Weblock. In the near future, we will expand the strengthen cooperation with Weblock in the community, resources, ecosystem, and business and so on, such as launch more community events with Weblock, and improve the project ecosystem. And we also hope to create more and more new cooperation opportunities in the near future. Thanks again to Weblock!
Q4: Are there any exciting initiatives that you’re planning in the pipeline to encourage more people to hold MXT?
So far, we have cooperated with Nuls and Weblock, and also launched a series of events such as pledge mining activities, community airdrop events, invitation and reward activities to motivate our users.
Q5: What are the differences on cross-chain transactions working principles between MixTrust and Ren?
Actually, Our project is similar to Ren in the concept of cross-chain, but there are also many projects researching cross-chain technology like Ren, so we just do the same thing in different way. We do a lot research on the Polkadot ecosystem, but we know that Polkadot’s problem is that it needs to be their para-chain so that can support cross-chain. Our direction of public chain cross-chain research is to solve this problem.
Community Q&A:
1. What phase are the roadmaps at? What is Mixtrust trying to solve for the development of the blockchain Industry? What are Mixtrust’s current and future targets to be realized?
We are at the product development phase now. As I told you guys before, we will release our new version product in the end of this month.
The $MXT market value is increasing with the continuous expansion of $MXT’s trading volume. It is estimated that the market cap of circulation will be ranked Top150 on CoinGecko in 6 months, and the total market cap will be ranked Top 30 on Coingecko in 2 years. Because we believe that with our strength and capabilities, as well as product development and technology R&D capabilities, we can make it come true in 2 years.
2. How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for the them to let them better understand about your project?
Of course, the user base is very important for us. In the future, we will also establish MXT communities in various countries(also including some countries where English is not spoken well). Definitely, our team members are from different countries, and we will also recruit administrators from different countries to help us manage communities. The globalization of the community is one of our goals.
3. Will MixTrust support participants in different financial fields ?
Yes, our MixTrust will support different financial fields products to be launched on our platform, that is, support traditional financial derivatives and crypto currencies(cross-chain). So that more participants in different financial fields can also participate as well. To make transactions no thresholds and restrictions.
4. From a start-up project to a mainstream project, being a pioneer in the industry, do #Mixtrust team anticipate that many new start-ups will show up and compete?
Yes, We are just a startup project, and we need to try harder and harder for improvement, and become the industry pioneer as you said. I believe this is an honor for us in the future. Thank you.
The development of the times and tech is unstoppable. There will definitely be many new projects emerging and competing with us. This is something we are happy to see. It proves that the blockchain industry is developing rapidly and also inspires us to work harder to concentrate on projects.
5. We often hear that some cryptocurrency platforms experience data theft and abuse by hackers, talking about the quality of the MiXTrust security. How confident MXT to solve this issue?
There is no doubt that the data theft and hacking sometimes happen in the cryptocurrency field, but not always. Now our project has undergone strict project code audit. In the near future, we will find a famous audit team to do a contract audit to ensure the security of tokens when the product APP version officially being launched, so as to protect the asset security of investors.
The amount of engagement was incredible and there were many excellent questions asked during this AMA!
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