On November 9, 2021, HC Capital’s community had the opportunity to exchange with Arturas Bobinas | Co-Founder and Glory Lucas | CMO to join the AMA to provide useful information about Bitlocus.
This AMA is organized by HC Capital – The leading cryptocurrency community in Vietnam where investors and traders can receive the latest news and signals as well as discuss and share investment experience in the cryptocurrency space.
- Time: 20:00 Tuesday, 09/11/2021.
- Location: https://t.me/HCGemAlerts_chat.
- Airdrop: 200 USDT
Part 1: Some questions from HC Capital team.
Part 2: Q&A with members.
Content of the AMA program
Part 1: Some questions from HC for Bitlocus
Jannie: Today Ama will start now with Part 1: Some questions from HC for Bitlocus.
Jannie: First, Could you give us a brief introduction about yourself and project Bitlocus?
Arturas Bobinas: I’, Arturas Bobinas (CBDO) withover 15 years of experience in sales, marketing, e-commerce and project management. Joined crypto space back in 2017.
Originally Bitlocus is crypto-to-fiat CEX which has been established back in 2018.
Other companies of the Bitlocus ecosystem are Payrico (crypto-friendly banking service (EMI, registered in Lithuania, EU) and Ginger Fund (liquidity provider for the CEX).
Our CeDeFi project or the “DeFi investments platform for fiat-based users” will be built on top of that ecosystem as a service layer and will re-use most of already existing solutions (crm, kyc, aml, fiat payments processing in sepa and swift).
We are enriching current CEX with DeFi investments solution which will act as a gateway in between fiat customers and DeFi space and will be built in a way, where those fiat-based users will not directly interact with DeFi space at all – they will make investments via our platform really easily – basically just clicking a few times and submitting an ivestment request to our platform (deposit or withdraw).
From there our platform takes over and processes clients’ fiat money to crypto and DeFi or vice versa. All interactions for the end user (fiat-based client) are in fiat and only over our platform. That mitigates quite a few risks and makes investsments into DeFi really easy even for the non-crypto savvy users.
Main utility of the BTL token is to serve for our rewards programs – Liquidity Mining and Guarantee Fund staking which also be fueled by never ending fees from fiat users (it is not just temporary and sythetical rewards allocation from the supply, it will always be in circulation and will help us incentivize BTL kolders for the long time.
Jannie: Could you give us some highlights about Bitlocus have compared to other CEX exchanges?
Arturas Bobinas: At this point Bilocus as CEX is no differend to other crypto-to-fiat exchange. BUT what is important is the opportunity it provides us now with DEFI.
We have all onboarding/offboaring procedures ready and functioning since 2019. And to bring this new CeDeFi platform live we only need to develop like 5-10% of it since we have that base of our CEX. So our CEX gives us much better time to market with our “DeFi investments platform for fiat-based users”.
Jannie: I realize, Bitlocus is built on Terra platform, so what is Bitlocus’ marketing plan to attract the majority of new users to trade on your platform?
Arturas Bobinas: First of all there will be two kinds of users:
- Fiat or end-users for the DeFi platform
- BTL token hodlers
Both ot them require diff marketing approach. Plus, fiat users alone will also ffeature like two of its kind – small institutions and retail users. Again, diff marketign approach.
But shortly, most of marketing apprach to institution will actually be through a network of representees or biz devs available at each country live for meetings, conferences, etc. Plus some marketign of course. Retail – will mostly be handles via digital marketing.
Crypto users/BTL hodlers will be mostly aquired via our extensive network of KOLs (crypto influencers basically) + AMAs like this one.
Honnestly, fot the project to be successfull in the crypto world you need like 2000 real/true supporters/believers/hodlers. All the rest is noise. Sorry for being brutually honest here. We already have like 40k of community, but it doest convert to 40k supporters :/
Thats why I’m not trying to bullshit anybody, cause I dont need more noise – I need true believers, that fully understand the project and back it up with their real and honest support.
Jannie: Before we move on to the next part, Can you share with us Bitlocus vision and goals in the futures ?
Arturas Bobinas: Main goal is to built popular DeFi investments platform and penetrate with that service to European Deposits market ($17T in value. To generate 1B portfolio you only need to penetrate it by 0.00625% – so the opportunity is here). Especially having in mind good/better DeFi yield.
If we’ll be successfull with the platform, we will generate enough revenue from fees from fiat-users to incentivize our BTL reward programs + will earn well ourselves. This is business, not hobby. We are here to earn by delivering good service, not have fun.
Part 2: Q&A with members
@AnnisPeterson: Many blockchain projects are on paper only and don’t have any product or have a product with no practical use case. Please let us know what is Coin ‘s current practical product in use? What are your plans for the product to be better in the future?
Arturas Bobinas: We dont bullshit utility. The platform is buld for fiat users that wont even know BTL token exists. BUT their fee-revenue will be that fuels our BTL ecosystem – which basiocally is rewards programs mostly. With some basics of paying reduces fees on our CEX, but that’s not the main point.
@Tigershark123: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Arturas Bobinas: Again. our CEX is live since 2019. Took us a year since 2018 to develop it. That CeDEFi project will be built on top of that, ant this gives us like 90% already done. MVP coming out early next year.
@bmanpyro: What’s your main focus right now, are you focused on the community or market/Exchange or the products?
Arturas Bobinas: KOLs at this moment + finalizing the details for IDO lauch (will be on Dao Maker, TerraFormer and Gate.io).
@majamaf: Can you share some Details about Recent Major Achievements done by your project? Also, what are the Future Roadmap & Targets of your project?
Arturas Bobinas: Our CEX is small and local in scale, but it is fully working technical solution, which is key point for this CeDeFi project.
Our recent CEX-related business was actually providing White-Laber solution and the most intriguig deal is launching IPO (yes, “P”) in Sweden next year, but that’s gonna be totally other business afterwards.
@Ima_Sikes: Currently from where i can buy ? Is it possible that I can get only by holding it?
Arturas Bobinas: Private sales are over – sold it out all. Next chance is on IDOs: DaoMaker, Gate and TerraFormer in late November.
@Hester_Akins: Truly, you’ve done AMA in many telegram groups, so what next, what other way will you make your project more popular?
Arturas Bobinas: Only like 5 for now. about 30 more to come…
@DouglassWeddle: Many blockchain projects are on paper only and don’t have any product or have a product with no practical use case. Please let us know what is Coin ‘s current practical product in use? What are your plans for the product to be better in the future?
Arturas Bobinas: This qs is repeated, but main utility for the token is to be used in our rewards programs.
@Dalewayward: Do you have any Bug Bounty to check for weakness? In what way do you plan to make Your project more complete?
Arturas Bobinas: Not yet, but are thinking of it.
@hectorfajardo: What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?
Arturas Bobinas: Revenue comes from fiat-based users as fees. Part of those fees (fiat) will then be exchanged to BTL (thus creating some purchasing power from the platform itself) and distributed to BTL rewards programs.
The nice thng here is that it is not only the allocation in our token supply. It is fully circular method of always being available to pay rewards IF we are doing well with out platform. Revenue based utility if I may.
@connerk7: Can you List 1-3 Killer features of your PROJECT that makes it ahead of Competitors? What is the Competitive Advantanges your platform Has that you Feel most Confident about?
Arturas Bobinas: Startng as Terra-based project. Terra is an amazing blockchain with savvy and strong community and 3rd TVL in size. Justa agood strategy that aldo become organic love for the Terra ecosystem. Especially their UST stable coin and the way it is pegged to fiat. Just an amazing idea.
@mlp942: What is the role of token in the ecosystem? Where can people currently buy it?what would be its used?
Arturas Bobinas: Rewards program. + some basics of paying reduces fees on our CEX that nobody probably casres about.
@busynarcissist: Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term.
Arturas Bobinas: Answered most of this in Admin’s question.
@myminecraftnow: Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Arturas Bobinas: 500M. More info here: https://bitlocus.gitbook.io/bitlocus/tokenomics
@janettcurrie66: Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Arturas Bobinas: Yes, 25% of one of our revenue stream will be used to buy BTL back and burn on the quarterly basis until 30% of total supply is burned. Tghis should give an extra psuh for the value, by making it deflationary.
@Mr_Boomer337: What is your strongest advantage that you think will make your team leading the market?
Arturas Bobinas: Staying compliant for fiat-users + giving them a chance to reduce interbanking risk via our EMI/banking service. It is easy to get into crypto with fiat, but much harder to get out of. We have a solution for that. WHisch is also cokmpliant.
@nanderson17: What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Arturas Bobinas: https://bitlocus.gitbook.io/bitlocus/roadmap
MVP + product in full + crypto debit card delivery (sadly will probably be issued only for Europeans).
@thePJ1: Is your platform a global or is there any restriction to certain regions?
Arturas Bobinas: It is global with restrictions based on AML stuff (plus, dont onboard Americans). But targeted to European market businesswise.
@ivette_keefe: Is your project only for elite investors, what about others with small funds, is it open to everyone?
Arturas Bobinas: 80% of effort will target small institutions (liek up to 0.5M in their crypto ticket value) 20% – retail users.
@dawngalindo: Southeast Asia is a very vibrant market and there are many new platforms under development. So what do you think about Southeast Asia and do you have plans to grow there?
Arturas Bobinas: Not yet. Europe is key focus for CeDeFi. But we aopen to the world with BTL token actually.
@LessieLo2000: Almost 3/4 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
Arturas Bobinas: Wellcome to crypto. Fake love 🙂
But basically if you come in early and we are successfull with our fiat-users – you will simply earn good rewrads in BTL.
@Andy58645: Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users invest to your platform in the long-term?
Arturas Bobinas: I wont even try. Even a short term users is actually valuable for the project. But if you really truyst us, rally get the idea – you will probably stay with us longer.
@xoJulia3: Is your platform suitable for crypto beginners? Or does it only limited for professional users ?
Arturas Bobinas: Begginners. The way we are bulding our platform is so that fiat users wont have to interact with crypto or defi directly. Its like buying BTC on Revolut app basically. That kind of UX.
@louise_burns_17: How old is Your project? What are the major plans ahead? Could you show to us image of your roadmap?
Arturas Bobinas: CEX/EMI and FUND all were established back in 2018. CEX got opperational after a year of in-house development in 2019.
@james_sommers: How important is the community to Your project? and How can we collaborate or help share token for the development of the project?
Arturas Bobinas: Community is key point for our token to exist. Again, we would be really strong crypto project with only 2000, but real supporters. Thats seems like very possible thing to achieve.
@chuminh76: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
Arturas Bobinas: Current main partner that breaks doors is DaoMaker – our lead investor. Then we have super awesome marketing agency – Social Staircase – onboard too. Plus, a few good and helpfull VCs.
@william08567: How can I buy this tokens? Is it available on any exchange?
Arturas Bobinas: NEXT chanche: IDOs in late November (DaoMaker, Gate and TerraFormer).
@MR_Corbina: There are some common core problems in cryptocurrency and blockchain, namely: Security, Excessive Volatility, Interoperability…. How did you overcome these problems? Can you share it with everyone?
Arturas Bobinas: Fireblock and some basic but good in action security stuff. Autamating procedures for processing mitigation, batching user request to save costs, etc etc.
@wugytaiw: Does Your Project TOKENS have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of tokens and attract investors to participate in investments?
Arturas Bobinas: Yes, asnwerred befor. in short: 30% of total supply will eventually be burned on a quarterly basis.
@XxGayStylexX: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Arturas Bobinas: lsiten, we are on the market since 2018. Working hard to get here and stay for long. The real reward is in the long run, not now.
Wow, ok, My tim eis up. Didnt manage to aswer all of them, but please, join our community to get those answered either by me, o rmy fellow managers.
Thank you and, hopefully, see you soon on our side.
Jannie: Amazing Q&A! Thank you @artb01 for joining us 👏 and good luck with Bitlocus.
Hope this AMA Recap will let you understand more about Bitlocus. Thank you for following AMA Recap and for your companion also HC Capital!