1. Can you elaborate on the reasons for the multi-currency change?

The initial structure of GVT had several big issues, some of which were highly discussed in our community. The main issue is that GVT being the intermediary currency does not operate as something as people hold, but rather buying and selling it at short notice. On the other hand, people who invested funds into the investment programs created enormous selling pressure on the coin, because it was sold on the exchange in order to be converted to the account currency.

The second issue is the adoption one. GVT is not quite yet adopted at the moment, which is especially tough for the traders coming from conventional markets, where having an additional currency that you need to purchase just raises the entry barrier for the whole platform.

The third problem is that people actually lost money on conversions. Each time the GVT was sold or purchased people lost money on paying the conversion fees, which is definitely not the best thing in the long run.

Multi-currency allows users to skip the GVT conversion step, in the case they are wanting to. This lowers the entry barrier for new users while keeping the flexibility of the universal currency.

Furthermore, people who already own GVT still might consider it a universal currency that opens doors to a lot of functionality and perks which can and be further improved.

So how can we improve the current system? Thanks to our amazing community we’ve already had several suggestions on how it can be achieved.

One of the suggestions we received proposed using GVT as gas for investment in any currency. You can read check out the original proposal here: https://feedback.genesis.vision/communities/1/topics/706-the-perfect-solution-for-gvt-token-proposal

This is a great proposal, however forcing people to purchase GVT was the second problem of the current system and this opinion is not purely based on our suggestions, but rather on the feedback we received.

Another great suggestions came from our amazing community managers, who manager to effectively crowdsource ideas from all of our social networks. Here is the proposal:

Starting out from the current model the effective changes would be:

- Managers receive their entry as well as success fees in GVT

- Investors can decide whether they want their profits returned in the invested currency or GVT

Everything else (burns, fee reductions) will remain as has been currently implemented.

Again, this is a great suggestion! The only downside is there are a lot of managers on our platform who almost never interact with it and who have almost no advantages of holding it. Now, however, with the recent addition of discounts, the situation might change, since managers will have a rational motivation to hold GVT. Plus, there are a lot more investors, than there are managers.

But we still like the idea and will probably try implementing or at least testing it. We are still listening to all of the feedback we receive and will update you.

What it boils down to is that our platform has two audiences, one of them being the avid users of the platform, and the other one being the GVT holders, however both of these groups need the platform to drive up the demand for the token, so this is why the question about the structure still remains open. We are sure that we will be able to find a way out of this “catch-22”, thus the work on the structure continues forward. There will be improvements to the system, and all of them will be directed towards the easier adoption of the platform, but at the same time the proper usage of GVT as the universal platform currency.

2. The US question

The US market is understandably very desirable for any financial company, however, the US presence becomes more of a legal question, rather than a rational one. The issue lies within the money flows since the company simply cannot accept funds from investors.

This is obviously a very important issue and an essential milestone for the development of our company moving forward.

The situation with copy trading is still very similar, however, it has its own set of benefits and possible ways of “bypassing” the strict US regulation. As we mentioned before, the main issue is connected to the flow of funds to our company, however, there are still options, where the US users will be able to use the copy trading functionality in some form and we are working on establishing and developing them.

3. Marketing

Coming back to the selling pressure issue, any decent marketing campaign might have sunken the price of the token. Now, this issue no longer exists due to multi-currency update, but we still believe that at this time, organic growth is the best way forward for the project.

Through establishing various connections into the crypto sphere, by integrating new brokers and exchanges and other companies, by doing the marketing basically B2B, we still have a strong presence in the “informational field”. The organic way of growth, working with other crypto institutions is the best way to go at this exact moment. It will of course change at some point.

4. Contest

The trading competition is definitely coming. We find it a great way to interact with users of the platform and while we can’t provide you with the exact timeline at the moment, trading competitions will be coming back, with one being not far away!

5. Biggest issues during the launch

The hardest obstacle is not a single particular part of the platform, but rather the complex structure of the whole contraption. Since it is an ecosystem that unites multiple parties, everything might go wrong on their side, but we would be responsible. The more integrations and bridges we have and further create, the more potential issues we have on our hands. However we are working on interacting with our partners and we have achieved a lot of progress in that direction.

6. Are there any further plans to increase the demand of the GVT?

We are not planning to directly influence the demand, however the development of the platform and the appearance of new features and networks should organically drive up this demand. Features like subscriptions to the managers signals in GVT are the most recent example that will be implemented soon.

7. When will we see the detailed video tutorials and walkthroughs for the platform?

We’ve already started the process of producing a video tutorial, however because of the update a lot of info and footage became outdated. The video is in the works and will come out when all of the features of the newest update are fully implemented.

8. Will investors be able to share their results on social media?

This upgrade is already in the backlog and we will work on this and implement is as soon as we can. Free marketing has never hurt anybody!

9. How soon can we expect a referral program?

First up we want to finalize all of the functionality at first. We didn’t have copy trading, now we have. Referral program is definitely coming, but we want to add all of the functionality first and then develop the referral program around it.

10. What is your opinion on the current level system?

Thank you for all of the people who left their feedback on the system, we really appreciate it. We are welcoming any new suggestions on how to improve it, because we realize that it is not perfect. It has gone through several iterations already and we are working on developing and implementing the best version of this important functionality.

11. What are the efforts to provide the security of the platform.

The easiest way to screw up security would be trying to reinvent the wheel. The industry already has a number of great solutions which are considered to be a golden standard. The crypto industry has its newer standards and we are sticking with them while constantly monitor new solutions and will improve them if deemed necessary. At the moment the platform is heavily protected, however (to confirm) we are not using any proprietary security solutions.

12. When will investors be able to remove a program from dashboard if they are not investing in it anymore.

It is an important QOL improvement and we are already working on it.

13. A concern about the team using GVT to fund their platform and now not being committed to the platform, since the platform can run without it.

While this is certainly not (and will never be) an option, we are still trying to find the necessary balance between adoption and driving demand. Genesis Vision is a big GVT holder itself and is definitely invested in a healthy market and will keep working to achieve that.

14. What are the updates on Genesis Vision Network (GVN)

The last several months were quite busy with working on current updates, but the work on GVN never stopped. It is still on the proof of concept level of developing and we are trying a multitude of things to find the best solution. Resource-wise, the majority of the team is still working on Genesis Vision, but progress on GVN is being made and we will share more information as soon as we can. The development team is growing in size and so are our capabilities.

15. Is the development of the platform financially sound?

That is a good question, because we have just enabled the fees and before February we had virtually no income. Despite that we are very satisfied with the results and along with the general development of the platform and its growth the situation will only become better.

16. Will the team be committed to the project? The problem might not be the lack of funds, but rather the lack of commitment.

We hope that there are no real facts that could make someone genuinely feel this way, because the team is only growing, so is its activity. Once you release something that is working as well as what we’ve managed to create, the level of commitment stays the same and is (as its always been) very high. The whole team is happy to be a part of the project and is looking forward to the bright future.

17. What more should we do to make Genesis Vision a success?

This is the question from our community and we can’t describe how much we appreciate it. Our community has always been the backbone of the project and we never want it to change. But the only thing we can ask you at the moment and the thing that would make the most benefit for us is to leave your feedback and suggestions, we sift through all of it and it helps us greatly. Keep an eye on what we are doing and don’t be afraid to point out things that you don’t enjoy — all of the constructive feedback and criticism is beneficial.

18. In the future is there a possibility of GVT being the only currency on the platform and how would it be achieved?

The accessibility of the platform is the way to go at the moment and the foreseeable future in our opinion. We are not discrediting this idea completely, it is still an option, but we don’t think that limiting our user base will prove beneficial in the current crypto climate.

19. Current progress on the fiat gateway.

Unfortunately we don’t have any important updates yet. Most other crypto projects are in the same boat right now, but it is a legal endeavour and we are working fiercely on it.

20. The GVN and GVT roadmap.

Publishing a roadmap would deprive our community of sweet surprises. We want to keep the flexibility in this situation. We think that we are still pushing out updates at a steady pace. You can rest assured that there will be a lot of them in the future. We have a lot of ideas, but their priority will depend on the crypto situation and other factors.

Thank you for all of your questions and feedback! We could not answer all of them, but we will try to do that in the next AMA. Do so as usual through all of our social networks and we do read all of it so don’t stop! If anything needs to be clarified, please don’t hesitate to ask. Together we are truly making our platform better.

See you next time!