Category "AMA recap"

Dear Community,

Thanks all for participating in our AuBit AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you.

Introduction!

Mayank – Hello @gyd79 welcome to CryptoNationIN 😃 Glad to have you for the AMA today 🥳

Graham – Thank you @mayankgrover733 great to be here! 🙂

Mayank – Sounds good. Before we start, could you please tell about yourself to the community.

Graham – I am Founder and Co-CEO of AuBit. AuBit is a digital asset platform bringing social finance and better rewards for everyone. We bridge old world of traditional finance with the new world of digital finance and defi. Our model is more efficient than traditional accounts. Traditionally, you have accounts with assets and the amount of assets stay the same. e.g. you buy some bitcoin or gold and you come back to your account in a few years and you still have the same amount of gold or bitcoin. With AuBitised products, assets are always growing, so you can come back to more gold or bitcoin in your AuBit account than you started out with. We do this by redistributing fees generated on the platform back to product holders as the assets underlying those products. This creates network effects in finance for the first time and is a great opportunity for users to experience a new type of growth in their assets.
We have also solved accessibility #accessforall, where users across 180 countries can access AuBitised products.
My background is software and database architecture, and I helped many traditional regulated legal and financial service organisations move online and grow their businesses while closely paying attention to regulatory compliance. We were building out a complaint customer management system for big financial services organisations when we took a deep dive into blockchain tech and realised it could change the face of asset management forever. So we pivoted to build AuBit and brought an incredible team together from big finance and big tech with a very talented big developer team to get AuBit done. AuBit is on target to launch it’s first public iteration of its Freeway Platform at the end of March this year having built our systems, legal and corporate structures and teams since 2017.

Mayank – Thanks for giving a very detailed introduction, although seems very interesting, the part on which user’s assets grow up is really fantastic. 🔥

Twitter Questions

Q1. As we know, every successful project has a few stories behind the scenes, what’s the story behind AuBit success? What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming AuBit updates that you want to show/share with us?

Graham – AuBit began as a way to bring better asset management opportunities to everyone. We wanted to solve how the people coming together on a network to generate more gains and do better as a result. Through network effects, as in more use of the platform creating more value for its users. We were very lucky to be able to bring together an incredible team to make AuBit a reality. The story of our success is really down to solving and refining what AuBit can do and getting the legal and technical barriers solved. We have worked with more than 35 top law firms to solve and reverse engineer our platform and products to make them available for everyone. We also have solved many of the issues of traditional finance, things that were perhaps not even thought of as possible to be changed from conventional wisdome by going back to first principles and working out a better solution. One of these is the Freeway Forever Rewards system, which creates and rewards value to all users for bring more users to the platform. Rewards are significant and based on how much benefit referred users get from the platform which makes it extremely aligned.
https://go.aubit.io/cryptonation, this is the link to go through and join.
https://aubit.io/freeway-forever-referrals-infographic/

Q2. What makes Aubit distinctive and ahead of other Security tokens/competitor projects on blockchain that currently exist, keeping in view that their fundamentals are also based on decentralized finance.

Graham – AuBit is very different to other projects on a number of factors.
First, network effects, we haven’t seen other projects solve network effects to the degree we have.
Second, regulatory compliance, the level to which we have gone to ensure our products are avaialable to the majority of the world from day one is something we are very proud of.
Third, bringing a new kind of access to products not normally available to users, such as the AuBit Virtual Hedge Fund products, which target high APY gains and their AuBitised versions are made available to everyone.
Fourthly the forever rewards system that ensures everyone that gets involved is rewarded and really life-changing rewards can be seen by those using the system the most.
What makes a successful network effects business is being able to generate value for users that cannot be generated anywhere else. And AuBit works to do that on many levels.

Q3. Your trading app for computer and mobile is available in more than 180 countries, how do I know if my country is on the list? And what are your plans to finally become a global unrestricted project?

Graham – Best thing to do is jump in the telegram group and chat with the mods and community. Most countries are covered except the USA and UN-sanctioned countries and a handful of others that have outright banned digital assets. 183 countries are fine.
https://t.me/AuBit_Official_Community

Q4. Recently AUBIT held an airdrop program, is it true that your project held it, and will all participants get prizes in your program? and what is the progress of your project after doing your AMA or pre-sale of tokens?

Graham – We have not run an airdrop, in fact we have just kicked off our Forever Rewards referral program. Each time you refer a user you both get $10 to use on the platform, and then equivalent to 2.5% of all AuBit growth redistributions and 10% of AuBit Virtual Hedge Fund AuBitised performance gains. We started the program 10 days ago and already have more than 78,000 on the app waiting list.
So make sure you use the cryptonation link https://go.aubit.io/cryptonation and get on there. There are a number of ways to move up the waiting list. The infographic gives more details.

Q5. AuBit Virtual Hedge Fund is designed to provide #accessforall to Forex, Gold and Bitcoin trading strategies. Who is it for? Are there any special provisions that apply?

Graham – They are for everyone that joins the AuBit Platform. This is a god point to talk about Freeway Tokens (FWT) as they play an implortant part in unlocking the AuBitised performance gains within the ecosystem. Freeway Tokens are required to be held in your Freeway account to get the maximum gains from these AuBitised hedge fund products, which target approx 50% APY. users hold an equivalent value of FWT of their largest hedge fund product holding to unlock the gains and can reuse across their AuBitised portfolio. So if you have 3 AuBitised hedge fund products and each was $1,000 in value, you would need to hold $1,000 of FWT in your account to get the maximum gains from them. This makes FWT quite unique in that it always has more utility value to certain holders than it is worth. In this case, $1,000 FWT would unlock $1,500 in value across the 3 AuBitised Hedge Fund products each year, if they hit their target APYs.
There are many other utility points to FWT such as discounted platform fees, delegated staking and utility across more of AuBit’s roadmap items include AuBit defi lending and earning, AuBit derivatives, and AuBitised Equity products. We build more utility into FWT as every feature launches.

Telegram Questions

Q6. Do you have newsletter list where I can subscribe to with my email do as not to miss out on the latest updates about your Aubit project?

Graham – Yes we keep our wonderful community up to date regularly. If you use the cryptohunter link https://go.aubit.io/cryptonation to get signed up for the Friday weekly update newsletter and onto the Freeway app waiting list.
On a Monday I do an internal AMA each week and answer most of the questions, we pick winners of $25 USDt each week for the best questions too.
And on a Wednesday we do one external AMA too.

Q7. From products made by Aubit such as;
– Aubit Freeway product
– AuBitised products
– Aubit Virtual Hedge Fund  product
Of the Aubit products above, which product did the Aubit team focus on the most? And which products would the Aubit team suggest users take & the most profitable for users?

Graham – The Freeway Platform/App, AuBit Virtual Hedge Fund Products, FWT Native Staking and the Forever Rewards program are the most important aspects to focus in my opinion

Q8. As I Know AuBit plans to impact the lives of ordinary people. What strategy do you plan to integrate non-crypto user into your community? How do you plan to Spread information about the mission of this project?

Graham – Our goal is to make the Freeway App as intuitive and easy to use as possible. Shortly after launch we hope to provide full Fiat on and off ramps for non-crypto savvy users to be able to get straight in on the platform.

Q9. The $FWT token currently relies on the Ethereum platform! But, as we know, the Ethereum blockchain currently has many scalability issues! Then, what’s the main reason behind choosing Ethereum and not other blockchains? Do you have plans to launch your own mainnet?

Graham – It was simply a point of adoption and compatibility. AuBit runs its own mainnet which is fast and gasless, and AuBitised products will be made availabl eon other blockchains where there is market demand for them.

Q10. What is the plan FWT to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year ?

Graham – There is already a great deal of liquidity in FWT, liste4d on Bithumb Global, Bitmax and Uniswap, FWT often trades over $1.5m daily volume.

Q11. What are your plans for global expansion,on building and developing or getting customers and users, or partnerships?

Graham – We have a very successful and expanding referral program with over 78,000 users on the waiting list in 10 days. We will keep that going as we start letting wider sectors of the community know about AuBit and FWT. 
We will target users of other crypto apps and trading apps to also get a Freeway account and as we continue we will close partnerships with other platforms with large user bases and institutions that want to get the AuBitised benefits themselves.

Q12. Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Graham – AuBit’s World Class Management and Advisor Team have worked at some of the largest financial and technology companies in the world including Goldman Sachs, Fidelity, HSBC, Credit Suisse, Morgan Stanley, IBM, Google and The Prudential. These team members have worked for AuBit One Equity tokens, many for more than 3 years and have huge reputations to protect. So we are in a very good position reagarding our team credibility. 🙂

Q13. People are exploited by exorbitant interest rates by local financiers… But there is a reason why they stay with them. It is easy for them to use their funds to buy and sell in their localities. How can easyfi be competitive as a mainstream and global payment method?

Graham – AuBit seeks to provide fair and equitable accessiblity through the Freeway Platform.

Thank you to  Graham Doggart (CO-CEO) and Community for participating in the AMA. Have a nice day.