Thanks a lot for actively participating in the Membrana AMA held on 27th September 2019 at the Game of Bitcoins Channel. We really appreciate all your support. This post is a recap of the entire session held with Membrana
Please introduce yourself and share Membrana's vision
My name is Yuriy, I am a co-founder and CEO of Membrana Blockchain Network or MBN.
We've been developing our platform for more than two years and proud to present it to wide audience.
To say short - MBN is an ecosystem for asset management.
We've created it because we believe in a convenient and safe cryptomarket. With MBN you can perform portfolio management and conclude deals for asset management using the Ethereum Smart-Contract Technology - safely and transparently.
Q1. Starting with the name itself, please let us know what does the name Membrana signify
Membrana Blockchain Network signify a safety similar to "membrane" that protects you from the external dangers.
Q2. I understand that the funds never leave the exchange and everything is handled via the use of APIs. Please let us know how do you secure the API itself. Also, how can the users ensure that the smart contracts do not have any vulnerability
Safety is number one priority for us. We have already been thru several security audits and continue this with updates done to the platform.
For the actual workflow - we have our sub-API system, so investor commits his original API to secure off-chain database, which no one has access to. And for the contract, the sub-api is created, which lasts only for the duration of the deal. The deal itself is operated by smart-contract, it is decentralized and reliable - providing risk management for the contract.
Also, investor can set all the restrictions for the contract, limiting his risks or potential losses. He can set the maximumim loss and contract duration and even the allowed trading pairs.
Q3. Please give a brief about the utility of MBN tokens on Membrana
MBN token is an utility ERC-20 based token. It was minted this spring and after the crowdsale all unsold tokens were burned reducing the total circulation to 634M tokens.
Tokens is now traded on IDEX, ABCC and Probit exchanges, while we are getting a big exchange on the board.
What you can do with it? - You can receive access to a whole new world of trading with MBN tokens.
Use MBN tokens to gain advantages and unlock various tools on Membrana platform, compete with other traders in trading tournaments with cash prizes or receive assets under management with automated smart-contract technology.
Want passive income? With MBN tokens you can recieve staking rewards or join Community Operated Fund to take part in investment pools and other ecosystem activities.
Q4. As the platform is currently in beta, when can we expect the complete Go-live and please touch upon the potential partnerships
Okay, to answer this question, I would like to drop some screenshots of our Beta, so people will understand what it looks like.
First of all - we have our own trading environment which works from PC or Mobile phone on multiple exchanges.
We will add more tools for experienced traders so they can get better results, even from their smartphone
For the asset management - we have everything already working with smart-contract, Proof-of-Trade system and Performance based commission fees.
Right now we work on Group Contracts that will open an opportunity to create your own funds and attract money from audience and work with them with 1 click
The Final Release is scheduled for Q4 2019 and it will be a massive game changer on the Asset Management market.
Just image - our nearest competitor GVT has a Market Cap of $4 million, while we are sitting with $300k MCAP.
So yeah, all eyes are on us to hit the Final Release and get to the big market.
For the partnerships - it's mostly exchanges, because have a good value for them with our services. And it's a beneficial collab for both of us.
Q5. What were the major difficulties that you faced while starting this Membrana project ? And what was your motivation to continue it ?
When we started the project we first started developing instead of fundraising. So when in 2018-2019 crypto-winter came it was kinda a tought one. But we had passion for the product and a family community behind us, so we never gave up!
Q6. Currently some countries in Asia are quite strict about the laws and use of cryptocurrencies so have you prepared or plan to overcome the barriers to bring your coins to all continents? And the way you do it
Our business is based on providing the technology solution for customers, that's how we can bypass the regulation risks and become a bridge between different closed markets. So yeah, with MBN Asian investor can work with a trader outside his country and earn money on cryptomarket.
Q7. How one is secure on your platform ? From Hackers and all
We use best practice for safety of the databases and our main system services are decentralized.
1. The more users join, the more profit Membrana gains. So, how does Membrana attract users?
2. Is Membrana's technology considered an achievement, a contribution to Blockchain technology? Where does this technology apply and how is it scalable?
3. What is the inspiring issue for this project's team? What difficulties did you encounter in the early stages of research?
1. We do lots of community events, that bring more customers. Basic features of platform are free to use - so everyone can join and try it.
2. It is a sollution for real market problems - we open a door for newcomers to set up themselves on cryptomarket.
Q9. Membrana platform manually trade or automatically trade with API?
Trades can be done manually, or you can connect any external software with our own external API.
Q10. How the Membrana project planning process is ensure? The market needs constant progress of project! How to avoid the Membrana Project idleness?
We have our public roadmap on the website and we are sticking to it. Also, we always receive feedback and ideas from our community to bring in new available features!
Q11. What else you do to make your token more valuable beside building strong community, developing mainnet function?
We have a great tokenomics behind it. The token is a key to worldwide ecosystem where it can be used in various ways. With nearest updates you would be even able to lock the token and receive funds for trading without need to have an exchange account.
Q12. What is your experience in Financial & Trading Platforms?
I would better share the info about team. The development core is from Russian, with a strong background in IT engineering. The marketing team and ambassadors are promoting the platform across the globe, as we are presented in the US, England, Germany, Hong-Kong, South Korea and India. The team and advisor list also have big names in the industry - Michael from CME, and advisors Paresh and Anthony from Goldman Sachs.
Q13. Can you please highlight more on the decentralization in Membrana ecosystem? Canyou explain how you can combine Centralized and Decentralized advantages in the easiest way? Also in the future, is it possible to quantify the level of decentralization?
Decentralization is uses in main technology to provide safety and transparency for the customers. Centralized part is UI so customers can enjoy user friendly workflow.
Q14. How to compete with Binance on leverage and futures products to win customers?
The beautiful thing, that we are working on top of exchanges, not competing with them, but providing extra services that are not available on the exchange.
Q15. What is the token utility in the ecosystem? why the demand for the token should increase? What make your project unique with other competitor
1) Token has many use cases and used on the platform itself as payment method and also to access the worldwide network.
We create features that have short-term usage of tokens and also encourage long-term holding of the tokens with multiple benefits for its holders.
2) Talking about the competitors - we utilize a different technical approach to solve the asset management problem. Our contract system works peer-to-peer and has several massive advantages versus the Copy-Trading which is used in GVT and other similar services:
First of all, the safety is significantly increased because you can set additional restrictions for the trader and limit his losses with a risk management system integrated into the smart-contract.
Secondary, you, as an investor can split your assets on a single API between multiple traders and trade at the same time without interrupting other contracts. You can even trust the assets to a manager who will do all the work for searching and picking the trader for his own commission.
And thirdly and most importantly - the technology allows you to work on the crypto market without a need of an exchange account. You are able to access the network with MBN tokens and receive funds for trading or investing throught the platform interface.
Genesis Vision also has fund management based on the idea of tokenized fund. On the other side, we allow creating the fund for anyone, without the need of sending your money anywhere. We are using the same smart-contract system which scales perfectly while maintaining its safety and efficiency.
Q14. Do you have any plan for a decentralization exchange in long-term vision for investor demand?
Yeah, we would add IDEX to our platform and many other exchanges. I would suggest to give it a try - https://beta.membrana.io/
Q15. What will you do if you fail in your roadmap? What will you do for it to be on track?
We've been thru years of development when the market was totally dead, so we are are confident with our experience.
Like companies who attracted tens of millions were closing next to us, and we were working days and night to deliver the product for our community.
To stay on tracks - we do lots of customer interviews to see what is needed for our users. That's how we stay on top of their needs.
Q16. Do we need KYC for trading? What are the significant requirements for the first trade? Which countries are restricted for trade?
To start working on MBN you don't need KYC. You login using your ERC20 wallet signature and that's how we verify you in the system.
Q17. How the demand of your MBN token will increase in the future? or what steps would you take to increase the demand?
We are bringing more and more tools for our users and that create organic growth for the token.
Q18. Why should we invest in Membrana?
Product. Public Beta stage with over 3000 customers. Desktop and Mobile versions are already released. More that 3000 trust management contracts concluded with $2M trading volume. Final release in Q4 2019.
Team. Expert development team from Russia and worldwide network of brand managers and ambassadors. Supported by top experts from Goldman Sachs and Coinbar group.
Community. High ratings on trackers and big community - 40k telegram users. 2 US venture funds have already invested into the company.
Development. Huobi, Binance, Bittrex exchanges are already connected. External API released. Successfully passed security audit.
Rewards. Stack MBN tokens to receive profit from COF activity (Community Operated Fund).
Q19. What are your major goals to archive in the next 3-4 years? Where can we see Membrana ecosystem in this period?
Our goal is to scale our ecosystem and create a DeFi workshop on top of it. So developers would bring their ideas and make them alive on our platform, earning money for themselves and increasing the token usage.
In 3 years we would connect most of the exchanges and start expanding to the stocks market.
Q20. Can you put some light on your partnership right now? How are they helping you out in your project?
We have a great partnership with Coinbase Wallet, Trust wallet, Zeus.Exchange and Ingvarr Company. Partners allow us to wider our feature list and be accessible from any device.
Q21. What are the next planned steps to increase #Membrana platform Adoption and awareness among traders?
We got a few great things that we are developing right now, and they will be launched in October! And also, we are working on a new listing on a T1 exchange, that will bring much more customers to our platform.
Please stay tuned for the news in our official channels, so you wont miss the listing and other updates!
I think we covered everything in this AMA session!
I would like to thanks everyone for participating and Gary for being such a sweet host!
Guys, it's a honour for me to invite you to our official group:
Feel free to ask for any support needed.
Also, join the platform to take part in the giveaway:
To buy MBN tokens - the easiest way is IDEX exchange:
Thanks again, and see you on the MBN platform!