Welcome to Recap AMA IgniteCrypto & Poloniex #AMASeries
On 9 Sept, 2021, Ignite Crypto and Poloniex got together to host an Ask me Anything (AMA) chat with the community. The following is a summary of the content of the entire AMA
Admin : Hi Chung. Thank you for taking the time to chat with the Ignite community today.
Before entering the AMA today, how are you doing ?
Mr.Chung Dao: That’s a great day
Admin : Hopefully we will have more information Poloniex after this AMA takes place
Admin: Let’s Move Part 1: Introduction to the project and AMA guests. Some general questions about the Poloniex.
Admin: Question 1. Could you please give us a refresh introducing you and Poloniex?
Mr.Chung Dao:
In 2018, Poloniex was acquired by Circle, a leading U.S. digital payment company (currently the issuer of USDC). In 2019, Poloniex separated the exchange business from Poloniex LLC and stopped providing services to American users. Poloniex is now a company with financial muscle after receiving funds from investors including TRON Founder & BitTorrent CEO Justin Sun following Circle spinoff in 2019. Poloniex positioned itself as a global exchange following Justin’s investment in 2019. This is why we attach a greater importance to the Asian market. This is also why I come and hold an AMA in the Vietnamese community. This is an overview about Poloniex.
As one of the biggest exchanges in terms of trading volume, Poloniex is known as a ‘one-stop marketplace’ for cryptocurrency. We are more than being a stop for spot trading and derivatives exchange. With margin trading, bridges, mining pools, a cloud service, decentralized options with Poloni DEX, loans, broker options, and so on, Poloniex is one of the most versatile exchanges out there. We also have an education platform that helps you learn about exchange and trading in general. All in all, it has all the tools you need as a beginner while having a vast array of options for those looking to become advanced traders.
Poloniex also offers the lowest fees compared to other exchanges. For fee comparison, please refer here (https://poloniex.com/fee-schedule).
Poloniex apps are available for download on Android and iOS here: https://poloniex.com/app-download
Poloniex Vietnam official channels:
Twitter: https://twitter.com/PoloniexVietnam
Facebook: https://www.facebook.com/poloniexvn
Telegram Group: https://t.me/PoloniexVietnam
About myself, my name is Chung Dao, or better known as Poloniex Vietnam Country Leader. Prior to joining Poloniex, I have had experience working in the crypto/blockchain industry since 2016, including working as Marketing Manager for both institutional and major commercial projects in Vietnam and overseas.
Admin: Question 2. What are your upcoming plans to expand globally and attract more users?
Mr.Chung Dao: Currently, we have served users from more than 40 countries and regions. Our social media accounts and communities are available in nine mainstream languages. We also have a team of more than 40 Poloneers, Poloniex’s volunteers, from the aforementioned countries and regions. We will continue to commit ourselves to building a more globalized Poloniex.
How can Poloniex attract more users globally?
I believe the key is to offer users access to scarce investment opportunities and premium investment assets, which is fundamental to an exchange and has been Poloniex’s long-standing advantage.
To give you a couple of examples. We were the first exchange to list Dogecoin, the “founding father” of Meme coin, as early as 2014. A more recent case is that we, in 2020, again was the first exchange to list YFI — the leading token of DeFi. These valuable assets brought our users huge profits on their investment. And many more new users started to trade on Poloniex. Poloniex will continue to maintain its leading advantage in listing quality assets, to provide users with more opportunities to make money and to meet our users’ practical needs.
Poloniex has been incident-free for seven years in terms of asset security, and our security system is designed to put the safety of users’ assets first. When users trade on Poloniex, they don’t need to worry whether their coins would be stolen, lost, or misappropriated by the exchange.
Besides, we’ll prioritize some regions while we expand globally. For example, CIS region, Vietnam, and Greater China.We have already set up accounts on some social media platforms such as Facebook, Twitter, Telegram, etc.
Third, Poloniex is TRON’s global strategic partner. We offer TRX Staking and Trading Fee Discount services to millions of TRON fans and worldwide users to attract them to use Poloniex to manage their crypto assets and transactions.
TRX Staking: Users simply need to deposit TRX into their Poloniex wallets (without locking them) to earn rewards from staking.
Trading Fee Discount: Users will be able to enjoy a 30% discount on their trading fees when paying their fees with TRX.
That’s all. Thank you
Admin: Question 3. How does Poloniex evaluate the Vietnam Crypto market? What are the upcoming promotions for Poloniex users in Vietnam?
Mr.Chung Dao: To be honest, the Vietnamese crypto market has impressed the whole crypto world with its exponential growth during this bull run.
Personally, I think Vietnam will become a more and more important market, and the climbing monthly trading volume of Poloniex’s Vietnamese users in 2021 is a testament to the rapid growth of the market.
In our market research, we found that Vietnamese users are more interested in investing early in valuable projects, and like to wait for an underlying investment target with great potential, and then wait and sell it when the price is high. A typical example is AXS. I know that the NFT game Axie is very popular in the Vietnamese market and has a large fan base. Most of the Axie/USDT traders come from Vietnam and they made a lot of money in the AXS To Da Moon bonanza in July.
The market preference of Vietnamese users is a heaven-made match for Poloniex’s listing strategy.
Now Poloniex starts to fully support the BSC ecosystem, and we launched six star coins in one day on July 23. Next, we will explore and list premium BSC projects with high community enthusiasm and innovative products that are not yet listed on Binance to provide good investment opportunities for our users.
We’ve also listed our tokens on BNB, FTT, KCS, and other well-performing platforms in addition to the BSC ecosystem.
Poloniex is trying to discover valuable tokens with an open mind, offering our customers profitable early opportunities for investment.
Speaking of promotions, I believe the best benefit we should give to our customers is profits, rather than discounts. Certainly, we are working on upgrading our referral program and will have bigger promotions in the near future, but our ongoing campaigns also offer impressive benefits compared with other exchanges. Details of these campaigns will be announced in our channel, and you’re welcome to join and say hi.
Poloniex official Twitter account for Vietnamese users: @PoloniexVietnam
official Telegram group: t.me/PoloniexVietnam
As I said earlier, TRON and Poloniex are powering each other. I learned that TRON has a huge base of followers and users in Vietnam, so I hope you can give some support to Poloniex as well.
Admin: Part 2: Form Questions.
Admin: Now, let’s begin with Part 2 of the AMA. We have chosen 5 best questions from our users on Form Google. Our guest will answer all of them.
Admin: Question1. Liquidity, Transaction fees and slippage are always the 3 important factors in financial services. How does Poloniex exchange solve the above problem to attract more users?
Mr.Chung Dao: Our transaction fees are lower than the average of major global exchanges, and we offer a discount of up to 30% on fees paid with TRX. You can visit poloniex.com for details of fees and discounts.
Retail traders now take up the lion’s share on our platform, and we are shifting focus to grow whale traders and market makers by planning attractive incentive programs tailored to them. Please contact us if you are a whale trader or market maker.
Admin: Question 2: How do you keep your platform safe for Investors and is your platform protected from hackers? And how do you manage if there is an attack on your platform, including the users’ data of your platform? Is Poloniex born ready for this?
Mr.Chung Dao: Not an easy question lol
But I like it a lot. I’m confident about this. Poloniex has been running smoothly for seven years with zero security incidents caused by us. It boasts a unique security system that will continuously be upgraded down the road.
Poloniex upholds corporate responsibility and puts the security of users’ assets at its core. We deem it worthwhile to have compromised potential gains and even actual profits for the sake of asset security.
Admin: Question 3: Keeping your community and partners satisfied is a key to every platform’s success road. So does Poloniex exchange have any incentive program to keep your partners and community members motivated and well-engaged?
Mr.Chung Dao: A good product speaks for itself. We believe that users will swarm to our community so long as we offer profitable investment opportunities.
Meanwhile, we rely on KOLs to communicate our value across communities and have forged in-depth partnerships with KOLs around the world.
We have diverse partners including KOLs and, most importantly, Poloneers. I’m happy to announce that we have on-boarded two Poloneers native to Vietnam today, marking another milestone for us in the Vietnamese market.
Admin: Question 4: Do you have any plans to attract non-crypto investors to your project? Because attracting more investors who are still not in the crypto world is the success of an exchange. What are the plans to raise people’s awareness in non-crypto space?
Mr.Chung Dao: Poloniex now focuses on exchange between cryptos. So the answer is pretty self-evident, right?
To answer this question, we have to define “non-crypto investors” first. My take is that anyone with USDT holdings is deemed a crypto investor, otherwise a non-crypto investor.
I think the key to their entry lies in a growing crypto market. I believe that’s also how all of you at this AMA got into the crypto space.
So how do we attract new crypto traders to Poloniex? The answer is offering them an early-mover advantage by giving them access to new assets with great potential.
To give you an example, Poloniex was the first exchange to list SHIB this year, an eminent player among all MeMe tokens. When they began to take off in May, all metrics on our platform were 6–7 times higher than the average. I’m sure these numbers speak for themselves.
Admin: Question 5: Kindly share your opinion regarding the current state of the DeFi market? Do you think the DeFi full potential has been unlocked, and how will Poloniex make the DeFi world a better place, easy to use and accessible to all?
Mr.Chung Dao: We know that decentralization is the core principle and cornerstone of cryptos. And I think that DeFi manifests the vision of decentralization.
With that belief, Poloniex launched a string of premium DeFi projects including YFI back in 2019. Though the DeFi market slid into recession after May 19 when China widened its crypto crackdown, we still have good faith in DeFi.
Poloniex, as a centralized exchange, cares more about users than its decentralized counterparts.
Users are able to choose between centralized exchanges and DEXs at their own will. And we will not see DEX as our rivals, nor will we slash support for quality DeFi projects.
As the world’s first altcoin exchange, Poloniex is always exploring and embracing the future, a trait that is in our genes.
Don’t forget to follow Poloniex on their official channels for the latest news and promotions you don’t want to miss out!
https://twitter.com/PoloniexVietnam
About IgniteCrypto: IgniteCrypto is a community formed by a group of members who are passionate about and believe in the future growth of cryptocurrencies from Vietnam. With the aim of creating an exchange community between investors and those interested in the development of cryptocurrencies
➡️Telegram Group : https://t.me/IgniteCrypto
➡️Channel Ann: https://t.me/Ignite_Crypto_Channel
➡️Twitter: https://twitter.com/ignite_crypto
