AMA RECAP:CRYPTOMALLUCLUB x CHATEX
Venue : @CryptoMalluclub
Date : 31th July 2021
Time : 03:00 PM UTC
Guest : Michael & Leonid Bugaev , CHATEX
AHAMMADALI | Cryptomallu Club
👋Hello Chat , Welcome to a special AMA session with ‘’ CHATEX ‘’ 😍😍
I am Ahammadali from the Cryptomallu Club and your host for this AMA session.
Let us give a warm virtual welcome to our guest, Michael and Leonid! 👏
LEONID BUGAEV | Chatex
Hello Cryptomallu Club! So glad to be here!!! ) I’m Leonid, VP of Communications at Chatex!)
MICHAEL | Chatex
Hi everyone!
SEGMENT 1 — INTRODUCTION SEGMENT
AHAMMADALI | Cryptomallu Club
Q1 : Can you briefly describe what is Chatex ? We would like to know more about it and how it works ?
MICHAEL | Chatex
Chatex is the concept of so-called social cryptobank. Social means that it works within social messengers, because in real life many of your transactions happen having social context. For example you have work chat, or your family chat and so on. When you need to pay to some of your freelance workers, or send some money as a birthday gift to anyone — you can easily make it with Chatex without knowing any payment information or credentials of the recipient.
At this moment it’s available on Telegram as the most widely used messenger among crypto community people around the Globe. Plus we have developed a mobile application for Android.Chatex consists of different modules that deliver different products.
First and the main one is Chatex Smart Wallet. It’s a multicurrency wallet supporting all the main coins and tokens but its Smart because you can send money not only by wallet address but many other ways like phone number or e-mail or Chatex username. We’ve made it work this way because we want to take over the existing user experience from traditional banking. For example in Russia you can make a money transfer between individuals by phone number. There is a special interbank system where they link your card number with your mobile number. So we made the same function because people got used to it and found it very convenient. Another cool feature is that our Smart Wallet has Vouchers or so-called MoneyLink. When I have to pay somebody and I don’t know his credentials I can just create a Voucher and send it over any messenger or SMS. The recipient will get this MoneyLink and the only thing he would have to do is just to click on it, complete a few steps during registration on Chatex like choosing country of residence and choosing the username and that’s it! The money will appear in his wallet! And this transaction will be free :)Second main module will help you to get your first crypto and it’s called Chatex Hybrid Exchange.
We call it Hybrid because it works in two different modes. First mode is P2P marketplace when you wanna buy or sell crypto with your local fiat currency. It works the same way as localbitcoins and many other p2p exchanges. So Chatex is a marketplace and Escrow service that holds crypto until the trade between two people will be completed.
Second mode is crypto-to-crypto exchange and it works more like any other centralized exchanges. So you will find an order book and you can partially or fully execute the order.
Most interesting thing is that we don’t have any fixed trading pairs. You can exchange any-to-any assets supported by our Chatex Smart Wallet.So one of the upcoming products will be Chatex Savings to earn yield on your crypto. And this product is backed and powered with DeFi.
By releasing this product from the consumer (retail) side we will obtain most of the products that traditional banks can provide.
Of course Chatex is not only a B2C product but there are also some B2B products like Chatex Pay and a B2B2C product is coming up next year as a Crypto-BaaS platform.
AHAMMADALI | Cryptomallu Club
Q2 : What are your main features that distinguish you from other similar projects and what competitive advantages do you have?
LEONID BUGAEV | Chatex
Most of the projects we compete with are mono-product projects. For example there are some really big P2P monsters, but they make only one operation — crypto marketplace with Escrow.
Chatex is more like a super-app. One-step solution where crypto newcomers can have all necessary tools to operate and benefit from Crypto.
Wallet supports major coins and tokens.
Exchange to get crypto on-ramp fast and cheap, then you can change one asset to another.All in one place, fast, cheap, secure and with the most simple interface of chatbot.
You should consider Chatex as just another friend of yours from your contact list. So when you do your daily work or chatting you can easily switch to your friend Chatex and he will help you to manage your money
AHAMMADALI | Cryptomallu Club
Q3) How can the community contribute to your project .Do you wish to expand communities globally as by creating local communities?
LEONID BUGAEV | Chatex
We are constantly developing relationships with members of the local community. We share important and necessary information that will be valuable and useful to you — especially in those regions where Chatex is just beginning to grow.
Now we are actively growing in countries such as India, Turkey, Nigeria. We have plans to develop relations with Latin American countries. We are always open to suggestions from members of the local community. For example, in Nigeria we are developing a financial literacy program.
We are developing a social marketing program and attracting ambassadors who are willing to share their knowledge about crypto projects with their audience.
AHAMMADALI | Cryptomallu Club
Q4 : Security is an important part of a wallet project . How much secure is your wallet platform?
MICHAEL | Chatex
First of all, by being a custody service — we have all the same mechanisms like centralized exchanges. I mean that we have BItGo custody provider, all these cold-wallets and so on.
Secondly, using chatbots in general for banking and financial services is as safe as using mobile bank. Because all messengers have 2FA, you can add an extra Face ID to open your Telegram for example and so on.
And as an extra we have our own PIN-code system. So every financial transaction initiated, must be confirmed with the PIN-code. This is very useful when you can leave your Telegram unattended at home or office and somebody may come to your deck and use your telegram.
AHAMMADALI | Cryptomallu Club
Q5) Can you mention he future plans for Chatex and can you share us the roadmap for coming quaters…??
LEONID BUGAEV | Chatex
Here’s our roadmap
from 2021 — to 2021
MICHAEL | Chatex
Soon the application will support Chatex Savings. This feature is based on the interaction between DEFI and CEFI.
After that, trading functions will be available in the application, just like in a bot.
We strive to create a full-fledged financial ecosystem where the user can earn, store, send and invest their funds.
Next year we will add one more social messenger. To find out which one — subscribe to our twitter and stay tuned for this huge announcement.
https://t.me/chatex_chat_en
https://twitter.com/chatex_bot
LEONID BUGAEV | Chatex
SEGMENT 2 — TWITTER SECTION
AHAMMADALI | Cryptomallu Club
From @Abhijit23057717
Q1)Chatex brings an innovative concept of how to exchange cryptocurrencies between users but I would like to know how it will manage to compete against platforms such as Binance or various DEX that offer the service of buying and selling cryptocurrencies?
LEONID BUGAEV | Chatex
We are not competing with these platforms
We’re aggregating the services they provide in a simple, secure and accessible manner.
It’s much more convenient to complete the entire cycle of actions with cryptocurrency in one place than using a lot of different platforms, pay multiple fees and handle the risk of making a mistake somewhere in the process.🤷
Our main goal is to make cryptocurrency reachable for a wide audience🕺🏻
While most of the companies on the market target a very narrow audience of professionals.Not every newcomer in cryptocurrency can start making money on DEFI, because the technological and deposit threshold is too high.
Our task is to minimize this threshold and make all benefits of crypto available to anyone🎂🍩🍫.
AHAMMADALI | Cryptomallu Club
From @Aymu13157993
Q2)Chatex is a secured cryptobank that functions dependently and primarily on telegram.What happen to accessing my wallet when telegram is having a down time or users gets restricted or banned?Would this not pose a limitation to the use of Chatex?
MICHAEL | Chatex
Actually, we used to have Viber version as well, but 1,5 years ago core code was completely rewritten from scratch and we stopped supporting Viber for this moment.
That’s why we have launched a mobile app, so users won’t be sticked to Telegram.
AHAMMADALI | Cryptomallu Club
From @Meghamadhu256
Q3)Researching your site I immediately saw There are “99 NFT Robots” and I realized that after the remaining 78 NFTs are about to be released, can you tell us when they will be released?Can you also explain why each NFT has a different number of items and what they are for?
MICHAEL | Chatex
Each robot will imply a signal of a specific event in the past, present, or even future. All together, Chatex robots exist in a family consisted of human beings as well, with both common and different views of the world and reality but, at the same time, seeking one simple idea: to live brightly and diversely, not to be afraid to be yourself, love and respect everyone in this world, carefully preserve all individualities.
There are separate unique prizes for the owners of the entire collection, which will never be sold or distributed in any other way. Only 9 people in the world can get a full collection of 99 NFT Robots. Each of these 9 users will receive the rarest and most legendary NFT that will include all 99 robots in itself shown one after another.
The last drop was published on July 29, 2021. The Tesla Model S electric car will be raffled among all buyers who have (at the time of summarising on September 9, 2021) at least 1 copy of 99 NFT ROBOTS.
AHAMMADALI | Cryptomallu Club
From @160RiderBRG
Q4)”FREE TON HAS ALL THE BENEFITS OF TON”.what are them ?
LEONID BUGAEV | Chatex
Free TON has all the benefits of TON:
Scalability through sharding Sharding
Unrivaled throughput over 1 million TPS🚴🏼♀️
Instant transactions🚨
Smart contract in different programming languages 📲
Safe and reliable consensus Proof-of-Stake⚖️
You can read about Free TON here: https://chatex.com/ton-crystal/
AHAMMADALI | Cryptomallu Club
From @_alwinpaul_
Q5)Liquidity is an important factor for trading volume . Who is providing the liquidity for exchage build inside . And how does it works?
MICHAEL | Chatex
Our liquidity guides are the users themselves, since the exchange in the Chatex operates on a P2P basis.
The system supports 11 of the most promising cryptocurrencies and dozens of fiat currencies for exchange.How it works:
You can make a deal by finding another user’s advertisement or by creating your own. All possible cases will be visually described below.If you want to sell cryptocurrency and you have it on your wallet (if not then you need to transfer it there first), then check the existing advertisements.
If you could not find another user’s advertisement that would suit you — just create your own one on your terms.
SEGMENT 3 — LIVE Q & A
Q1. FROM @Aimenkhalid
Could you tell us more about your team and their backgrounds? many projects launch with inexperienced team members and fail to get any real traction later on.
LEONID BUGAEV | Chatex
Most of our team (founders) are from the bank software development industry. One of the co-founders is also running a successful company that develops mobile POS terminals and payment processing software. So we came from the financial and payment industry with real expertise and knowledge. Dev team is also pretty strong and have previous experience in building high-load projects in online advertisement and payment processing.
Q2. FROM @kunjappan_003
Since your project is on Telegram, a social media platform, how do you verify KYC and what level of KYC information is required to use your services?
MICHAEL | Chatex
Verification of your identity is required in order to comply with the law, get access to some of Chatex functions( such as PIN-CODE) and improve a level of other users’ confidence in you. All your personal data are stored and processed safely while the verification itself is carried out in an automatic mode without human involvement.
To pass KYC you need to provide a photo of your identity document( passport, ID card, or international passport). Take the selfie with this document without accidentally closing your face or document. And the main level of KYC is passed)))
We have a very well known and strong KYC provider partner sumsub.com and 30 mins is maximum. Average time is 5–7 minutes if all required photos are made in good quality.
Q3. FROM @Morrison_456
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
LEONID BUGAEV | Chatex
Here’s our tokenomics (see image below):
You coud read detailed info here: https://chatex.com/token/
Q4. FROM @hellotocrypto
Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable?
LEONID BUGAEV | Chatex
Right now we’re working on it. We’re in process of auditing by Hacken CyberSecurity Services: https://hacken.io/
Q5. FROM @wwwfuck121
Why did you choose BSC platform for development? In the future, do you have plans to expand or develop your system on other networks like Ethereum, Heco or Polkadot???????
LEONID BUGAEV | Chatex
We’re have plans on BSC platform in our roadmap; but currently our core platforms is Eth. Of course we have future plans for BSC, Heco and Polka)
MICHAEL | Chatex
To follow information about our token sale, subscribe to our Chat!!
In the chat we can tell you more about our product)
https://t.me/chatex_chat_en
LEONID BUGAEV | Chatex
Try Chatex right now! It’s soo easy to use it! https://t.me/Chatex_bot?start=r_7531
-AMA CONCLUDED-
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