AMA Report: ChangeNOW’s Community
ChangeNOW is a cryptocurrency exchange for fast crypto swaps that supports more than 10,000 currency pairs.
Our CEO Konstantin Gladych and PR Manager Christina Kachatryan were present in the discussion with the ChangeNOW.
Here are the essential points of the AMA session:
Please welcome Konstantin (K), Christina (C), and the questions from the ChangeNOW telegram chat members (Q).
Q: So, what are the main features that make Atomic special, and what are the main achievements of the team now?
K: Basically, we are focusing on the main features. To make basic wallet features as simple as we can. Store crypto, exchange, buy, stake. We have apps on all platforms and users love us for our simplicity and it’s still secure, as you fully control your crypto with private keys on your device only.
Q: What are your plans and goals now? Can you share any news or info about the upcoming updates with us?
K: We are going to add more options for users. More partners to buy crypto with better rates. More assets to stake also custodial partners to earn interests in crypto and improving wallet performance. Maybe add the most popular dApps.
Q: ChangeNOW also does swap of cryptocurrencies, so what’s the difference between ChangeNOW swaps and Atomic Swaps? Why are you partnering with the competition?
K: Great question! Atomic Swap is non custodial technology, where you trust only blockchain. However it’s limited to supported assets and has liquidity issues. ChangeNOW holds your assets only for a short period of time and finds the best rate for you. Many pairs and great liquidity.
Q: What are the advantages & benefits of AWC aside from staking? Can we use it for payment in some stores or online shopping?
C: I wish we could make it happen in the near future! But now the token is growing hugely because of staking and other use cases that you can find here.
Q: What new cryptographic business models can be created based on Atomic Wallet? Atomic Wallet supports staking. What reward options are there for AWC coin holders? What will be the requirements for the node and node of the validator?
K: Great question again! Basically we are a light wallet, you don’t host any nodes. App is connected to various blockchain nodes all over the world. We support only non custodial staking with delegation. Running a full node means custody, like DASH, etc. that is not our philosophy.
Q: Marketing is a central element for every project so that everyone knows the potential that a project can bring is vital to achieving the goals set. What is your strategy to attract new users and investors to $AWC and keep them long term?
C: Great question! To attract users and investors, we provide the use cases that would bring benefits to each side, like cashback from exchanges and holding AWC, bounty, referral programs, etc. Just recently, we’ve reached a new level for AWC with our staking becoming one of the leading tokens on Binance chain.
Q: There’s this slogan synonymous to Atomic wallet “Not your keys not your crypto”. Can you tell us what this means? Is it a kind of security mechanism?
K: Like this question! If you deposit assets to an exchange, it’s like a bank. You give them control over your money. Atomic Wallet is non-custodial. Your private keys are encrypted and never leave your local device. All data is stored on the blockchain only. 12 words is the key. I believe it’s very important in crypto to own your funds. It’s against the bank system. New digital money with private ownership.
Q: What are the milestones of the Atomic Wallet? How do you see Atomic Wallet 3-5 years from now?
K: I see Atomic Wallet in 2-3 years like your own digital bank in a pocket.
Q: What are the ways for Atomic Wallet project to generate revenue in the long run?
K: We provide various services like exchange, buying crypto, etc. They cut small fees. All these partners share revenue with us.
Q: You recently had a happy 2nd birthday AWC token. How far have you achieved in terms of goals and target in these 2 years and why should users hold AWC tokens?
K: AWC has various use cases and I think it’s the biggest token on Binance chain with the most active users. We offer cashback membership, airdrop/affiliate rewards, staking with up to 23% yearly. We have over 80K token holders and strong hands who participated in AWC staking in less than a month.
Q: AWC staking grew up 25% in a week! 9,630 AWC ($6,000) paid to members. What is the future potential of staking and how does users benefit from staking on Atomic Wallet?
K: AWC staking just started. We didn’t even advertise it yet. But almost 2500 users participated in 4 weeks. So it will be more promoted soon.
Q: How does Atomic Wallet listing work, which asset will be available on Atomic Wallet, and which will not?
K: Great question. We usually do or own due research on any new asset or token. We check community, technology, trading volume, blockchain activity. etc to measure potential. However we support any erc20 tokens. We got lots of requests for integration every month.
Q: DeFi is a buzz up in 2020 and is on everybody’s lips, what roles does AWC play in the innovativeness and future of DeFi and how does it spearhead the adoption of DeFi using blockchain solutions?
K: Defi is buzzing, but still lacks mass adoption. However we are planning to add more popular defi services in our native interface. Like uniswap, compound and kyber.
Q: I would like to know where the massive AWC staking rewards are coming from?
K: We have a budget reserved for staking rewards for at least a few years. Also from time to time we buy back tokens from our profit. usually when the price drops.
Q: Do you plan to add more security features and options such as email verification and other forms of verification before payments are sent from the wallet?
K: Love this question! 2FA and all other verification features work only for custodial services. However in decentralized wallets, they don’t help much. With 12 words anyone can get access to your funds even in another wallet. So take care of your 12 words and you will be safe.
Q: Will it be possible to hold NFT tokens and collectibles in Atomic Wallet? That we could see images of our objects.
K: You can hold NFT tokens on your ETH address. However management for them is not yet supported in Atomic. Maybe later this year we will implement collectibles. It’s not such a popular request honestly.
Q: How will you plan to dominate the wallet market? What are the benefits of being a user of Atomic Wallet?
K: We are already in the top 5 popular multi-currency wallet. The key success factors are – the best UI/UX, many assets, and a quick support team.
We were glad to be hosted by ChangeNOW in their telegram group. Thanks to the team and all the members of the session.