Topic: [ANN] Tap [$XTP] AMA with CEO Arsen Torosian & ProBit Exchange Transcript (Read 179 times)

In this Tap AMA hosted by ProBit Exchange, Arsen Torosian talks about DeFi, XTP’s tokenomics and much more! - https://medium.com/@tapngo.social/tap-ama-with-ceo-arsen-torosian-probit-exchange-transcript-d1d5183f6df0

Introduction

Glad to have you here Arsen, please introduce yourself and TAP to our community 😎

Hello Everyone, I am Arsen, CEO of Tap
Tap has been in the making for 3 years. We officially launched earlier this year. We are available on the app store and play store for download. Tap is an up and coming competitor to crypto.com. But we are regulated to hold fiat and crypto, unlike anyone else. Before Tap I was a crypto broker in London

Community Questions

What’s the tokeneconomics of $XTP TOKEN? Also, do you have plans for token burn or token buyback?
Right now our circulating supply gives us a market cap similar to crypto dot com’s MCO token.

We recently made an announcement on the circulating supply which will reduce our market cap. Token distribution was also in the announcement.
It's safe to say the announcement will be great for hodlers.

The team tokens will be locked for a significant amount of time, over 5 years.
We believe this will align our incentives with those of our customers and investors better. You can find the announcement on our Medium page. - https://medium.com/@tapngo.social/announcing-new-token-lockup-periods-for-tap-tokens-fully-divested-in-6-years-time-c58802d78948
We also have a buy-back program, 10% of profits every month.

I’m really curious about how TAP will attract more users. What strategy will you guys use?

We are spending a lot of money on growing our community, listing on more exchanges.
We listed on another exchange last week. Probit this week. We will be announcing more listings in the coming weeks.
We are also organising many incentives for our community.
I hope you’ll all be a part of it. We also have some very big partnership announcements coming out over the next days and weeks.

There are many services like yours, why are you better?

Tap’s competitors are Crypto.com, Wirex. I will attach an easy to read comparison and add it here.
It's also available via our twitter (pinned message) and in our telegram chat.
Primarily our difference right now is that we are the only regulated entity to hold both fiat and crypto in the EU.
The Distributed Ledger Technology license from the Gibratan Financial Services Commission is the gold plated of crypto licences.
Other notable recipients are Huobi. Because we are regulated in this fashion it will be easier for us to start offering services that our competitors cannot.

What is the utility of the TAP token?

The token will be used in the app for reducing fees, staking for better rewards, and there will be a profit burn of XTP tokens each quarter, similar to the Binance model.
There are also other incentives lined up for token holders in the very near future.
We’re really looking forward to making some announcements on this in the coming days.
As you can tell, a lot is happening in the next few weeks!

DeFi seems to be on everybody lips in 2020, what roles do TAP play in the innovativeness of DeFi?

We realise that this is a service that is very important to our customers.
We are in the final stages of organising everything we need to do for this. We have announcements to make on this in the coming weeks.
We will continue to do everything we do in a regulated and trustworthy way.
Therefore we can ensure our customers have the best protections in the industry when using our services. But think lending and borrowing in a regulated framework.

Recently, TAP has expanded to Australia, in what other countries do you plan to expand?

Tap is always looking to expand the reach of our services to make them available to new customers. Hay, our partner in Australia, itself has plans to expand into Asia, wherever they go, that will be an obvious target for us.
But we are not limited to going where they go. We are looking at opportunities for expansion across the whole world.
Ideally, we will aim for countries where there is large crypto adoption by the native population, so Asia is quite high on the list. Of course, the US and S.America are important too.

Tap Global Ltd.

Tap Global Ltd (tap) is a Gibraltar company providing clients with real-time trading of crypto assets utilising multiple exchanges from one APP. The multi-crypto and Fiat wallet structure of tap coupled with bespoke designed proprietary middleware solution allows TAP to facilitate trades efficiently and seamlessly. tap officially launched to the public in February 2020.

Join our Community:
Follow Tap here! https://twitter.com/tapofficial1
Join Tap Telegram! https://t.me/officialtapngo

Download the App:
To download the app please visit:
Android: https://play.google.com/store/apps/details?id=com.tapngo.tap&showAllReviews=true
iOS: https://apps.apple.com/app/tap-banking-beyond/id1492263993?ls=1

Recent News:
https://www.coinspeaker.com/alternative-crypto-com-wirecard/
https://www.coinspeaker.com/tap-global-big-crypto-payment-card/
https://cryptodaily.co.uk/2020/08/tap-bridges-between-crypto
https://hackernoon.com/sounding-the-death-knell-for-cash-money-how-far-is-it-d4df307g
https://www.finextra.com/newsarticle/36125/fca-measures-spike-in-consumer-uptake-of-cryptocurrencies
https://www.cityam.com/crypto-am-shines-its-spotlight-on-tap/