BarterTrade is an ecosystem of various\nproducts within the suite. Ultimately working with each other interoperably.\nAll centered around a spot exchange with unique trading products.<\/p>\n\n\n\n
Today we are glad to tell you about the AMA session with our friends from BarterTrade<\/a>. The AMA took place on November 28 and our guests were @yaanurag<\/a>, @hodls<\/a> and @ManmeetBT<\/a><\/p>\n\n\n\n The total reward pool was 500$ and was\ndivided into three parts. In this AMA Recap we will try to summarize some of\nthe most interesting points for you.<\/p>\n\n\n\n PART 1, INTRODUCTION AND COMMUNITY QUESTIONS<\/strong><\/p>\n\n\n\n Mary\n| Satoshi Club: <\/strong>Hello, Satoshi Club! We are happy to announce\nour AMA session with Barter Trade! welcome to Satoshi Club 😀<\/p>\n\n\n\n Gold Rocket | Satoshi\nClub: <\/strong>Welcome to Satoshi Club, @yaanurag<\/a>\n@TheEdge76<\/a> @Logomina<\/a>\n@hodls<\/a> @ManmeetBT<\/a>!<\/p>\n\n\n\n Anurag Yadav: <\/strong>Thanks\na lot for the welcome. Really happy to be back again. And, thanks a lot for the\nwonderful support the last time.<\/p>\n\n\n\n Mary | Satoshi\nClub: <\/strong>Satoshi Club already had AMA with Barter Trade on 16th of August.\nCould you tell us what had changed on your platform since that time? Which\ngoals already reached, which are still on line? Sure, you have a lot to tell us.\n😀<\/p>\n\n\n\n Alexi:<\/strong> From a\nproject management perspective, we\u2019ve reached many milestones. Apart from\nsuccessfully raising community awareness, we\u2019ve been able to successfully test\nour test net… and uphold the highest standards of development. As mentioned\nmany times in the past, we want to launch with a product we can finally stand\nbehind, and so far the quality has been great, and I think we all look forward\nto Dec 7th.<\/p>\n\n\n\n Anurag Yadav: <\/strong>Post\nsuccessfully fund-raising and reaching our Hardcap in record time, we have just\nbeen working heads down to get our Exchange Live to our Users. This has been a\nreally hard sweat and toil journey and we have loved every bit. On average the development team has been\nworking nearly 15-16 hours a day (sometimes even on Sundays) to get all bugs,\nsecurity fixes sorted and get the exchange to the stage of Launch. <\/p>\n\n\n\n In the process we also a health scare where a number of our\nDevelopers tested +ve for COVID19 and hence our Delhi office was closed and we\nwent to Work-From-Home, which we are again stopping shortly. <\/p>\n\n\n\n So, I want to place on record my gratitude and heartfelt\nthanks to the wonderful Technical team led by our CTO – Priti. We are now ready\nto Go-Live on 7th Dec. And, I can’t be more proud of what the team has\nachieved. That’s for the Technical Team. On the Business and Marketing front,\nour team has been very active as well.<\/p>\n\n\n\n We have been adding new partners building new relatiosnhips\nand running an extensive internal community engagement and growth programs, led\nby my superb teammates @hodls @TheEdge76 @ManmeetBT @Logomina – just to name a\nfew<\/p>\n\n\n\n Mary | Satoshi\nClub: <\/strong>Do you have new partnerships, btw?<\/p>\n\n\n\n Anurag Yadav: <\/strong>Now\nas we are in the final lap of Launch our team members are now stationed in the\nUAE as we in the process of incorporating our Exchange there as well (along\nwith the current locations of Hong Kong, Estonia) to service the Middle Eastern\n& North African Markets.<\/p>\n\n\n\n We are also in the process of finalizing the incorporation\nin India as well. And, the final bit of work going on is in the overall Legal\nand Regulatory and Compliance setup before we Go-Live.<\/p>\n\n\n\n So, work is going on all aspects…as we now graduate from\nbeing an Exchange Project to a full-fledged business in just 10 days…It’s\nboth exciting to see the fruits of our labor ripe and also a little intimidating…so\nsome nervous energy. 😊<\/p>\n\n\n\n Manmeet: <\/strong>There\nhave been a lot partnerships related to legal, tech and operational\npartnerships that are of great value. These partnerships add little to the\nmarketing value hence are not public. Next quarter will be really huge for us\nas we are exploring a lot of DeFi stuff and our discussions with a number of\nprojects which once matured will be in public knowledge. Our Aim is combine the\nbest of both i.e. CeFi + DeFi.<\/p>\n\n\n\n Q1 from Telegram user\n@Corrie_Dorf<\/strong><\/p>\n\n\n\n The two biggest\ndilemmas in crypto are the Liquidity issue and volatility issue. What steps\nBarterTrade is taking to tackle these two dilemmas? Does your Exchange easy for\nnewbies? KYC is a must to fully enjoy your service?<\/em><\/p>\n\n\n\n Alexi: <\/strong>I\u2019ll break\nthe question up into parts\u2026 Is your Exchange easy for newbies?<\/p>\n\n\n\n Yes the ecosystem was built for this purpose actually. To\nlevel the playing field with advanced traders. It has a beautiful user\ninterface and offers comprehensive and thoughtful trading experience through\nproducts like algo trading and pie algorithm, which are both very intuitive and\neasily presented. We pride ourselves in providing an \u201cexchange that empowers\nyou\u201d.<\/p>\n\n\n\n FATF regulation requires a level of KYC, we\u2019re trying to\nmake this as minimal as possible and obviously for the time being lower tiers\nwon\u2019t require it, but we are globally incorporated and aim to be compliant,\nfailing to do so becomes an existential risk. That being said we\u2019re in ongoing talks\nabout encrypting KYC through a 3rd party service provider, which is kept on a\ncloud. Data privacy is our topmost priority.<\/p>\n\n\n\n Anurag Yadav: <\/strong>So,\ndespite us having a series of differentiated features, we like any other\nExchange business have these as our key internal business proposition\ndevelopment critical component. We are taking a number of steps to address\nthese topics. First and foremost is to partner with a number of reputed service\nproviders to ensure that our Users get the same Trading experience as they\nwould from any top exchange. <\/p>\n\n\n\n The idea is to build on the original vision of being a\nstandout community oriented exchange and not merely be another exchange which\nis either expensive, have little trading volume (as settlements are long), or\nhave fake volumes\u2026 All this requires as to consider to Liquidity as central to\nall our offerings. And, have taken all the steps towards it.<\/p>\n\n\n\n Mary | Satoshi\nClub: <\/strong>You know, i was a bit lost first time on your site😂 do you\nhave step-by-step guide how to use it?<\/p>\n\n\n\n Anurag Yadav: <\/strong>This\nis a great insight and I am always on the lookout for such feedback. From what\nI have learnt from most early users we have a great UI. But, I would certainly\nlove to hear from you (in a separate discussion) how you felt lost whenever you\nnavigated last. And, I would be sure to utilize your inputs to further improve\nthe User Experience. Because, User Experience is something that we want to\ncompletely hone in. 😊<\/p>\n\n\n\n Mary | Satoshi\nClub: <\/strong>Will you have some services which won’t require KYC?<\/p>\n\n\n\n Alexi:<\/strong> Sure,\nthere\u2019ll be lower tiers and appropriate requirements or lack thereof.<\/p>\n\n\n\n Anurag Yadav: <\/strong>Up\nto a certain threshold KYC is not required. Beyond which for Legal reasons KYC\nwould be mandated.<\/p>\n\n\n\n Alexi: <\/strong>Funny\nthing is we find that usually the users asking the KYC question are the\n\u201cbeginners\u201d who aren\u2019t aware their private wallets are already been catalogued\nby some of the leading KYT providers in the space through various techniques.\nThe more advanced users are familiar with FATF and clustering analysis software\nand understand the risks of being identified outside of our ecosystem anyway.<\/p>\n\n\n\n Q2 from Telegram user\n@Brainchest<\/strong><\/p>\n\n\n\n How far are you\nwilling to go in being open to the public and putting out open source? Aren\u2019t\nyou afraid that this openness could be exploited by hackers? Knowing Your code\nmakes it easier to find holes to crack.<\/em><\/p>\n\n\n\n Alexi: <\/strong>The\nquestion has part of the answer in it. Being an exchange we always need to be\ncareful with what is publicly available code so as to avoid exploits. Out CTO\nis quite familiar with this process and we only share responsibly and in the\ninterest of public transparency. For example, our audit was made public, as we\nwere confident at that point it was bullet proof.<\/p>\n\n\n\n
\n\n\n\n