AMA Recap Crypto Library with MarketPlace



On 05th May 2021, MarketPlace conducted an AMA in the Crypto Library Community. Our guest is Alexander Brown.

Lots of questions as usual from the Community about MarketPlace progress. The MarketPlace team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into MarketPlace.

Let’s take a look at the most interesting points of our conversation.

Crypto Library Team :
So, before we start the AMA could you please introduce yourself to our community?

Alexander Brown (MarketPlace) : Hello everybody. Before starting, I must say that  I am delighted to be here with you representing the whole MKT Team. My name is Alexander Brown and I am 35 years old. I have been in the Crypto World for a long time and I have an MBA from Kellogg School of Management. Now I'm working to have my dream come true of having a fully dex trading platform! Trading in the sense of a platform where people can buy and sell things, not like financial assets trading!
Crypto Library Team :
What is MarketPlace? And how the story/reason behind the MarketPlace project creation?

Alexander Brown (MarketPlace) : Marketplace is a store for retail people, we are working on a distribution platform where e-commerce stores offer their products and services. They will offer them in the same way that offline shopping centers do with products and services from physical stores. The marketplace is a digital showcase where you can find any product at any time and from anywhere. The story behind the MarketPlace project begins when some friends and I wanted to buy certain things, but to buy them we saw that stores did not accept cryptocurrencies as a mean of payment, so we had to swap our investments in cryptocurrencies to real money to buy these things. So we decided to create the Marketplace, to make things easier for buyers and sellers.

Crypto Library Team :
What is so exciting about MarketPlace, which make MarketPlace different from all other projects out there?

Alexander Brown (MarketPlace) : Well, first of all, I have to say that for me personally this is really exiting! I'm working in order to get my dream come true. That's something everyone should be doing! But, in respect of the project itself, what makes it so exciting is the fact that people will be able to buy and sell things online with their cryptocurrencies and without having to leave their home. So, we are here to change how things work until now. We strongly believe that we are going to innovate the world of buying and selling through this platform. How many of you here would like to buy today's meal with any of the cryptocurrencies you hold? I bet all of you do. But, can you do it? No, not yet. MarketPlace will be the platform that will allow you to do it!

Crypto Library Team :
Could you provide some information about your Roadmap, and what are some achievements that MarketPlace achieved so far?

Alexander Brown (MarketPlace) : Currently our roadmap is divided in 4 main stages. Our goal is to complete the first stage during the month of May, and the following as soon as possible. All in line with our roadmap, which can be seen it its full extent in our webpage:
This weekend, in line with our roadmap, we will be having our Public Sale in a fully decentralized third party platform. I can’t disclose any more information now, but you’ll get to know it soon! Right after the public sale, we will be listing our Token in PancakeSwap and other major exchanges, which we are already negotiating with.

As of achievements, so far, we have successfully created our identity and our community that's truly exited about our idea and project. This allows us to continue developing the platform and the respective steps in order satisfy what our community demands and reach our milestones.

Crypto Library Team :
Please tell us about MarketPlace token $MKT! What are the token utilities, price, distribution, and where we can buy it?

Alexander Brown (MarketPlace) : The Marketplace (MKT) Token is the native cryptocurrency of the Marketplace. Other major crypto currencies will be accepted in our platform during the trades, but there will be different categories for the sellers and buyers. Should you stake your MKT, then your benefits will be incremented.

However, the Market Place Token (MKT) will be, indeed, the fuel of MKT ecosystem in exchanging products and services. As we are on the marketplace business, the currency to pay for every transaction made in the platform is and will be vital throughout the Marketplace existence. We are fully aware of this situation and we want our investors and users to know that MKT Tokens supply is fixed and won’t have any surprises on the run. 
Total supply will be divided as follows:
  • Presale 75%
  • Team 7%
  • Locked and released gradually through smart contracts
  • The first-stage investors 9.30%, also locked for a longer period of time and released gradually
  • Marketing Strategies 6%, locked as well!
Finally, we destined 2.7% to the people that's helping our community grow through Airdrop. As said, we are working out the details to launch MKT token through a presale on next Sunday (9th of May) at 1:00 PM UTC. The MarketPlace token can be found in BSC scan

Crypto Library Team :
What are the future Goals of MarketPlace?

Alexander Brown (MarketPlace) : Our main future goals will be (i) to grow organically and (ii) to launch our platform as per the roadmap. In regards to the growth, to achieve this we have several marketing strategies that we are going to strategically implement as time goes by and passes. As already mentioned, our community has grown exponentially these past days and we expect that to continue in the following months as well. On the launching of the platform, our dev team is working untiringly to meet the deadline. Funds are being destined in order to have our dev team bigger as we speak. They are doing a marvellous job and the beta version of the platform is astonishing.
Crypto Library Team : Can you explain us how exactly will be the access to your Marketplace platform? Will it be just available to mobile devices through Metamask or also will be available a desktop version ?

Alexander Brown (MarketPlace) : Yes sure, that’s an interesting question. We are planning to launch our MarketPlace app both for mobile and desktop devices. We will be releasing it for desktop users on a first stage and then on a second stage for mobile devices users. However, I must say that the way to log in to our platform won’t be through Metamask. In the platform you will need to connect to your wallet (which can be Metamask or any other as TrustWallet). But it will function entirely through the MarketPlace platform.

Crypto Library Team : Do you have any mechanism for transferring to ethereum network compatibility so other projects can think of using your solutions?

Alexander Brown (MarketPlace) : Well in fact we do. We are planing on creating bridges to Ethereum Network as well as other Networks. We choose to go with SmartChain on a first stage for obvious reasons, if you want to buy a product worth $10, you won’t be able to pay $30 in transactions fees to the Eth Network.

SmartChain offers secure transactions at a low cost. That's what you need when you want to buy and sell stuff. Also, that's what you need when you want your token to be successful
But, we hope this ETH fees issue will be fixed any time now and, when that moment comes, we’ll create the bridge for the Token and the Platform.

Crypto Library Team : Community also plays a very important role in project growth, will $MTK token also reward the community as a strategy to expand your project marketing?

Alexander Brown (MarketPlace) : Yes. We know that the community is REALLY important and that’s why it always comes first. Before talking about rewards, I shall clarify that, as we value and respect our community, and as a fully DEX platform, we are planning on putting into community consideration some fundamental aspects of our project. I.e. the amount of staking needed to be premium or platinum buyer or seller. So, this takes me on how we plan to reward the community. As said, we are highly confident that this project will be a great success so community will definitely be benefited from the price of the token going up as our roadmap milestones are hit.

But also, after talking about rewards, I shall clarify that, as we value and respect our community, and as a fully del platform, we are planning on putting into community consideration some fundamental aspects of our project. I.e. amount of staking needed to be premium or platinum buyer or seller. So, this takes me to the rewards to the community. In this sense, people that stake an amount of MKT that will be determined by the community will have access to the privileges of being a premium seller/buyer and, if they stake even more MKTs, then they will be able to access to the benefits of being platinum buyer/seller. 

For further information on this matter, we encourage the community to check the MKT Token value in our webpage and our Medium article:
Crypto Library Team : During the 2020 I got scammed a few times, rugs, exit scams etc. - how can we investors be sure that this will not be similar, are your contracts public & somewhere to be seen?

Alexander Brown (MarketPlace) : During the 2020 I got scammed a few times, rugs, exit scams etc. - how can we investors be sure that this will not be similar, are your contracts public & somewhere to be seen? I choose this question because I find it very interesting and useful. Yes, in fact there are tons of rugs and scam in the crypto world and you should all be taking the necessary actions in order to avoid them. To stop them, we must work together bringing each scam or rug down. The MarketPlace token is "unruggable", why? Well, because our liquidity will be locked forever in an impartial third party platform. So, there's no way we are going to be able to run with our inverstor's money. We are here to stay, and that's why we choose to have our presale in a third party platform and not in our webpage, as some scam projects do. This enables the owner of the project to run away. However, if liquidity is locked forever, then that's not possible! Regarding our contract. Yes, it is public and verified, and it can be seen in BSC scan:

Crypto Library Team : Do you also provide a platform for STAKING or Farming? To increase profit for token holders?

Alexander Brown (MarketPlace) : Yes, Staking will be available integrated in our platform. As said, this will only reward the investors with the APY but also with benefits on being premium or platinum users!

Crypto Library Team : Has your project been completely decentralized, and will there be any risk of centralization in the future?

Alexander Brown (MarketPlace) : Yes, The MarketPlace platform will be 100% descentralized. Data and information about users, products and services will never be stored locally or in servers. It will be stored in the Network we are working with! That assures our community that there will be no data leaks!

Crypto Library Team : Liquidity, Transaction fees and slippage are always important factors in Finance services. How does MARKETPLACE  solve the above problem to attract users?

Alexander Brown (MarketPlace) : As I mention before, we find liquidity to be a vital matter when listing our project. That's why, and in order for our investors to be safe and secure, it will be locked forever. Also it's important to know that MKT token supply is LIMITED. This means that there is NO mintable function and there will be NO surprises when it gets listed.

On Transaction fees and slippage they are a matter of huge importance as well. They affect our investors transaction and, that's why (i) we chose to go with BSC that only charges roughle 0.2$ per transaction instead of $30, and (ii) our token is not designed to charge an additional fee per transaction. This means that with a slippage rate of 1%, our community will be able to swap it.

Crypto Library Team : In the event where the ETH fees issues isn't sorted, do you have any alternatives on ground?

Alexander Brown (MarketPlace) : Yes, there are other Networks available to create Bridges. We mentioned ETH because it's the popular one, but if their fees don't get fixed, then we'll probably be using TRC20. It has higher fees that BSC but they are much lower than ETC.

Crypto Library Team : When did your token start being distributed and tradable?

Alexander Brown (MarketPlace) : We are planning to list it next Sunday (May 6) right after presale ends.

Crypto Library Team : When buying in your market, should buyers use your token or can they use the currency?

Alexander Brown (MarketPlace) : MKT will be the native token of the MarketPlace environment. That's why, holders and stakers will get rewarded. However, we understand the need of integrating other cryptocurrencies to our platform and, at the very beginning, it will be possible to  use other major cryptocurrencies to buy/sell producs/services in our platform. For example, BNB. We plan to continue incorporating currencies through all the life of the project. We know that new tokens are released day by day. That's why, our community will decide which coins/tokens will be accepted in our platform through votation!