BW.com weekly AMA with Cathy Zhu from the BW.com: What’s the hottest program on BW ‘To-the-moon’.
The AMA (Ask Me Anything) held every Friday by the BW.com official telegram(following as BW) welcomed BW Global CEO Cathy Zhu this week. In an hour, Cathy answered questions from members of the BW 7 global communities regarding “To-the-moon” program of the BW.com, talked about BW’s current and future development. Also mentions the opportunities and challenges that BW.com faces. The BW international operations team recorded the whole interview and shared the essence here:
Section 1 : Introduction
Allen: First of all, could you introduce a little bit of your background? how you step into the blockchain field and how’s your work at BW?
Cathy: Global CEO of BW.com exchange
Director of ZB.com business group
Director of Finance of Institute of Blockchain Singapore
10Years Business Strategy experience in HP
Blockchain Advocate and Educator
Business Owner and Strategist
I graduated with honor in management. Worked in college as teacher for 8months then joined HP for 10 years working on various roles such as business analyst, business operations manager, strategic development manager and project manager. I started a travel agent from 2012–2016 in Vietnam with successful exit. And 2016 I became a director of India Latin Dance Congress and now it is the biggest Latin Dance Festival in Asia. I started buying bitcoins when it was 200USD. I joined a exchange called Shuzibi on early 2018. And successfully transform it to DigiFinex. Even the english webiste and app was translated by me. As I received a lot of recognition from what I have done for DigiFinex I was invited to join BW.com on November 2018. BW.com belongs to one of the top blockchain business group from China with multiple exchanges, mining pool, crypto media, crypt asset management company, stable coin and wallet.
BW.com started as Bitcoin mining pool from 2014. There are over 300,000Bitcoin, over 1.5million Ethereum and over 3million Litecoin have been mined from BWPool. On 2018 BW launched exchange service on top of mining service. There are 6 main business units in BW: spot trading, options trading, P2P/C2C, OTC, Token launch pad, and liquidity and market making service. There are over 1million users in BW.com with over 800million USD daily trading volumes. Daily active users is around 40k. BW.com domain name itself worth over 10 millions USD.
Section 2: 8 Questions from BW global Communities
Question1 By @fsociety878 from Indonesian community:
Where did you get the idea to organise the “BW to the moon” program? What are the criteria for coins to enter the Moon program? are all newly registered coins in BW must join to the moon program?
(dapet ide dari mana untuk menyelenggarakan program “BW to the moon”? kriteria apa saja koin yang bisa masuk program to the moon ? apakah semua koin yang baru listing di BW wajib mengikuti program tersebut)
Cathy: We will evaluate the project from below dimensions: technical innovation; business model; token economy; investor background; community support; smart contract(we do smart contract auditing); and also project whether financially stable.
Last point is very important. All the to-the-moon projects must have real office and real people and financially stable even without extra funding.
And also all the project fund raising target must below 1million USD. If a project only has white paper and expect to sell tokens for 5–10million dollars on BW and then hire people or rent office, we are not accepting those projects. We have rejected over 200 projects so far for IEO or to-the moon.
ICO is dead. After ICO suddenly IEO(initial exchange offering) became popular. IEO is kind of endorsed by exchange so most IEO projects quality is better than ICO.
BW.com conducted over 10 IEOs. Some are very successful IEOs. Some are not very successful. We looked into the project technical background and team background. But a lot of IEOs still not perform well.
We realise that the reason is the projects doesn’t have good community support. Right now all the to the moon projects have good community support. And we also check all the to the moon project company in person make sure they are a real company with real office and people. We want to be more selective and present even better projects to users to choose.
Question 2 By @waylast from Russian Community:
Recently, you added sneaker trading to the site, what is the further development range? Are there any other global innovations waiting for To The Moon program?
(Недавно на сайт вы добавили торговлю кроссовками, каков дальнейший спектр развития? Есть ли другие глобальные инновации, ожидающие нас на Луну?)
Cathy: From product development wise. BW will launch more payment methods for users. We will launch our margin trading. We will continue improve our user experience. We will launch more languages. We will launch copy trading or social trading as well.
From token listing wise: we will be more aggressive to list more tokens and offer more varieties to our users.
From community building wise: we are continue to build and grow our community. We want to inter-act with our users. And we also want to slowly start to meet our users offline and start to host parties and meet ups. 31sth August we are hosting an BW after party in Seoul , South Korea. If you are happen to be in Seoul please kindly sign up BW free after party. https://m.onoffmix.com/event/192472
Question3 By @Jasdil from Indian community:
Are any of this on BW in the near future: reward and staking, crypto cards, crypto bank? In the near future, does BW intend to create airdrop or bounty for users?
（निकट भविष्य में बीडब्ल्यू में से कोई भी हैं: इनाम और स्टैकिंग, क्रिप्टो कार्ड, क्रिप्टो बैंक? निकट भविष्य में, BW उपयोगकर्ताओं के लिए एयरड्रॉप या बाउंटी बनाने का इरादा रखता है?）
Cathy: BW already launched staking as . Please check out https://www.bw.com/save. This is a trend now to stake coins. BW is a founding member of SCOLab (stake coin offering).We are not a bank or payment company so we want to stay focused on our exchange business. Make sure we secure our users’ asset and provide good user experience. Currently we have sugar bowl which is a bounty and candy system.sweet.bw.com / sweet.bw.io. We are an user-oriented exchange. We listen to our customer’s voice. That is why I want to do this AMA to interact with our users.
Question 4 By @Omontoya23 from Spanish Community
I would like you to explain how do you select, the tokens or coins to enter the to the Moon, how is the selection process, if you contact them with the projects or the other way around, how they decide which projects enter and which do not,.. summarising the whole process prior being included in “to the Moon”.
(Para la Ama, me gustaría que explicaran como seleccionan, los tokens o monedas para entrar en el to the Moon, como es el proceso de selección, si contactan ellos con los proyectos o al revés, como deciden que proyectos entran y cuáles no, vamos todo el proceso anterior al to the Moon.)
Cathy: Same question as before. We choose those projects after we check technical innovation; business model; token economy; investor background; community support; smart contract(we do smart contract auditing); and also project whether financially stable.
Question 5 By @Reinaldo11 from English Community
What is BW ultimate challenge at the moment and what are the strategies adopted to overcome that problem?
Cathy: Biggest challenge: Still the fait in and out experience to users.Solutions: right now we have USDT and QC OTC. QC(Quantum Cash) is Chinese Yuan Stable Coin.We just launched KC market. KC(Korean Cash) is Korean won stable coin. Korean users is able to use bank deposit directly deposit and withdraw.And we will also soon open KC OTC marketing. We are also launching credit cards and gift cards to buy and sell bitcoins in September.Fiat in and out safely is our current focus.
Question 6 By @Vanpham89 from Vietnamese Community
Why the purchase cap seems small for To The Moon program?
(Tại sao nắp mua có vẻ nhỏ đối với chương trình To The Moon?)
Cathy: All the projects participate To-the-moon must only sell a small cap around 100–300k USDT. If a project raise too much fund we think first of them they don’t need that much to develop.Second is if the project hard cap is too high then the potential of the token value increase is low.When you invest in an ICO you will look into whether the project cap is small and reasonable. Since the selling cap is low and we have too many users to participate.Average over 100k users participate one to-the-moon program. We have to reduce the per person purchase amount to let more users to be able to purchase.And even we select very good projects but in this crypto market we cannot guarantee what price it will become. So we also want to reduce the per person cap to help our users to do risk management.
Question 7 BY @Justin from African Community
Could BW guarantee a X times price pump for To the Moon Project if i Won the Lottery draw and why ?
Cathy: We cannot guarantee how many x is the price. It is trading we can’t predict the market. What we can do as exchange is try our best to find good projects and present to our users. And let our users to have more good ways to invest.
Question 8 is 御坂れと from Japanese community
bw.com will launch a high-quality currency in next week’s To-the-moon program, but why choose those coins instead of other currencies? Is that?
Cathy:Similar as previous questions. Projects can apply to the moon program. We will evaluate the project from below dimensions: technical innovation;business model;token economy;investor background;community support;smart contract(we do smart contract auditing); and also project whether financially stable. And we also choose small cap projects. And myself also trying to visit all the projects listed in to the moon. I visit them in person. Make sure they have real office. Real people. Not just some project has a white paper and raise money. I want to project our users to minimise the risks.
Section 3 : lively Question
Question 9 By @maey6ey
Why do so many people participate in to the moon? Does the group owner receive a reward for all members?
Cathy: Because the project listed on the moon so far all perform very well. So a lot of users try to participate. As I mentioned we only sell small amounts. So we need to lucky draw the groups that can purchase. Both the leader and the members are rewarded.
Question 10 By @tggjee
If i am a new user in BW. how could you make sure that we could understand to the moon easy and fast?
To the moon rules could be a bit difficult. 1. Go out bw to the moon page to understand the rules. We need to form 3 people group. And how to increase the power of the group hence increase the chance to be selected to purchase to the moon. 2. If you still have questions you can reach out to our customer service officers. 3. I am planning to do some live demonstration of to the moon group together here with users in the future.
Thanks for watching this AMA. If you are interested in BW.com “ To-the-moon” program, please visit our official website:
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