AMA RECAP : CRYPTOSCAPE x LOCALTRADE
Venue : Crypto Scape
Date :08 SEPT 2021
Time : 03:00 PM UTC.
Guest : Localtrade Team
They shared detailed information and opinions about the Project LOCALTRADE.
🔴 SEGMENT 1 INTRODUCTION.
1) please introduce yourself and your team to our community and tell your crypto story
So, my name's Arthur, I'm the Head of Support team at LocalTrade.
LocalTrade is a crypto exchange with a strong focus on DeFi sphere.
we're trying to shift the current industry paradigm by combining the best opportunities from both CeFi and DeFi worlds, all within a single ecosystem of blockchain-based financial products
So not only providing a great trading experience, but also giving our investors a dive into the profitable world of DeFi
2) What is LocalTrade all about explain it along with usecases and Vision
Our main intention is to further drive global adoption of crypto by lowering technical entry barriers and thus provide people with access to a definitive set of easy-to-use and profitable tools through the DeFi Lab, which is a central hub for investments in DeFi products, including tokenized shares and stocks, yield aggregation protocols and ICO offerings.
3) What makes the LocalTrade Project stand out more than other Trading platforms in the same direction at the moment
What sets us is the combination of CeFi and DeFi opportunities available on the platform. Building our defi lab on the basis of centralized exchange provides an oportunity to give users a convenient and easy entry to the DeFi scene.
About particular features, we offer high withdrawal limits without KYC (up to 1 BTC) for our CEX users, different trading competitions.
Also, we've made sure to integrate fiat gateways that allow users to invest in DeFi products using their fiat credit card, something that has never been done before.
4) can you explain more about LocalTrade university and how they can encourage the more responsible use of assets by users
Talking about university, it's our educational platform, where we provide users with profound knowledge on crypto, blockchain and related topics.
It's filled with text articles, as well as videos that acknowledge users with most interesting topics on crypto
5) When will local trade visa card pre-orders be available ? Could you please provide us with more information regarding the LocalTrade VISA card? What are the restrictions and fee
We're currently partnering with VISA in order to make debit cards available in the beginning of year 2022. We intend to first serve the underbanked communities, such as African continent and then transfer to Europe and other geographical territories
Talking about fees, there will be no monthly charges and a pretty high withdrawal limit with 0 fees (probably up to 0.5 BTC can be withdrawn without additional fees).
🟡 SEGMENT2 TWITTER QUESTIONS.
1) Can you please tell us what our some of the solutions #LocalTrade has to offer? @girlogcrypt
Ok, so we have a wide range of products, some of them are available already and some of them are coming out in the nearest future.
Currently, we can offer users our LocalTrade CEX — a crypto exchange and trading platform,
But, the most recent release will bring the DeFi Lab live — with DEX, tokenized stocks and yield farming aggregator, available to all users.
Along with DeFi Lab, we'll be launching the first round of LTT Token Sale, our native ecosystem token.
For further releases, we have DeFi wallet coming out soon after that, probably in October-November.
And that's not all the solutions we have to offer. But I recommend everybody to come and check our solutions on the website.
2) BSC is really in trending, now because it has low gas fee and high transaction, speed. Have you any plan, to move on BSC?And if so, when will it be? @elliekingcash
So, we're actually building our whole DeFi architecture on BSC. All the smart contracts will be built on BSC and powered by this network, including our token LTT which is a BEP-20 token
First we wanted to utilize ERC20 network, but the gas fees are way to high for users
So we decided to go full BSC
First smart-contracts will be ready and available around 20 September
3) The fee be based on the trading volume. The more you trade, the less you pay. So if we trade more with LocalTrade, will the fees we pay less over time? Can you tell us more about the Fees in LocalTrade? Is there a maximum trading volume to be achieved to pay less in the trade? @Lidiamga
So, actually, it works a little bit different that that. The discount on trading fees will be given to LTT token stakers,
In order to get your fees discounted, you'll need to purchase and stake LTT tokens.
While regular trading fee is 0.2%, you can get it to as low as 0% with the help of LTT
4) They are emphatic that LocalTrade as an ecosystem owns and provides over 100 trading pairs, which is fabulous, but to buy cryptocurrencies through LocalTrade I must perform some kind of advanced KYC?
So, actually, our KYC is really flexible and is an advantage among other platforms: you can freely trade crypto, deposit and withdraw without passing the KYC
KYC is only necessary for large withdrawal volumes, over 1BTC per week
And it's pretty straight forward procedure, takes 5 minutes to complete
and another 5 minutes to get your identity verified
5) Partnerships is one of important factors for every project. Could you name some of LocalTrade' partners? What are the benefits that you get from them? And is there any partnership that will be established in near future?
Our most recent partner is WLOCT, a trading competition platform that sets up transparent tournaments for traders, all blockchain-based
We've been also working with Forbes and Entrepreneur closely in order to publish articles
And we're always working to bring better solutions to our platform, including fiat gateway providers and what not
So check our our channel and stay tuned, there will be a lot of interesting stuff coming.
🟢 SEGMENT 3 TELEGRAM LIVE.
Q1- iTu Putu☺️♡:
good day sir,
-);Is this platform suitable for Crypto beginners?Or does it only appeal to professional users?
So, as it was previously mentioned, our goal is to give everyone, regardless of their experience, a chance to dive into the DeFi. Specifically for this, we integrate fiat gateways and create LocalTrade University, so that users can educate themselves and invest with minimal risks.
Do you have AUDIT credentials or are you working to AUDIT your project," to make it more secure and reliable???
We’re currently working with Hackeproof company, they will commence an extensive security audit and check all of our products for correspondence with the highest security standards in crypto.
Q3-iLu bilu ☺️:
Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
Yes, we cater to the worldwide audience and thus have our website translated to 13 different languages. For right now, our community chat is only in English, but we plan to further develop in this direction.
Based on your token distribution, 5% of the total supply will be alloted for airdorp and event. Can you share with us the airdrop program you have right now and how can we join?
So, the Airdrop program will be available for LTT stakers also. For the next 12 months, starting from December 2021, each month, we'll be distributing around 420,000 tokens to the holders.
In order to join the program, you’ll need to purchase tokens and stake them on our platform
Q5-T N O Sir:
How big is your team and do you have well experienced team to run your project in the long run?
So, overall our team consists of over 100 members across the globe,
Our vision is maintained by the CEO , Aaron Yahalom, who was previously engaged in developing PureFi protocol, brought in his expertise to make the system better in terms of security compliance, and enhance overall funds safety.
Well, thank you for having me here, it was a great time!
And remember guys: DeFi is the future, and the future is now, so don’t miss it!