Hello HERO Community!

This Friday, Feb. 23, at 5pm Singapore Time (GMT+8) we had an AMA session with Katherine Ng, QUOINE’s Vice President for Marketing to talk about HERO Token’s listing on QRYPTOS, what makes it stand out from other exchanges, and other related matters. With the help of QUOINE’s lead Community Manager, Panda, Katherine answered a lot of questions sent by the members of the HERO community in HERO Token’s official Telegram group. It was a very successful AMA. But because we know some of you were not able to participate, we compiled the AMA here so you can still experience it for yourself and learn more about QRYPTOS. Here is the transcript of the AMA:

[Start of AMA]

[Kathy]: Hi everyone

[JR]: Hello, Kathy! Welcome! Thanks for doing this!

[Kathy]: Glad to be here

[JR]: Here are some advance questions sent by members of the community earlier:

Q: What differentiates Qryptos from other exchanges?

[Kathy]: We’re glad to have listed Hero Token on QRYPTOS — we pride ourselves on being the most secure trading exchange + ICO listing platform for token issuers

We also have a powerful matching engine that can process millions of trx per second

In fact we ran our own QASH Token sale on QRYPTOS — which is proof of our platform’s security promise: our successful QASH token sale (6–8 Nov), the largest ICO raise in Asia, was carried out on QRYPTOS with zero incidents of hacking /phishing / scamming.

Q: Why can’t Japanese use Qryptos?

[Kathy]: Why can’t Japanese use QRYPTOS — this is due to regulatory reasons. As we are a regulated entity by the Japan Financial Services Agency (JFSA), we are able to serve Japanese residents only our crypto-fiat platform, QUOINEX, which hosts only JFSA approved cryptocurrencies/tokens for Japanese residents.

But we believe in there is growing demand for other cryptocurrencies outside of Japan, hence the reason why we launched QRYPTOS. Going forward, as Mike my CEO mentioned, we will be consolidating our crypto-fiat (QUOINEX) and crypto only (QRYPTOS) trading platforms into LIQUID. And there will be a dedicated LIQUID JP website for Japanese residents, and ex-JP markets.

Q: What are your personal thoughts on HERO Token?

[Kathy]: I’ve been following Hero Token for awhile, even back during my VC days — back then it was only Pawnhero.

My personal thoughts are, David was right to capture the opportunity to achieve the company’s mission of financial inclusion through crypto.

But it seems, now Pawnhero has pivoted to a wider class of assets beyond pawn items and second hand goods marketplace.

Which is great. It’s good to see VC-backed startups pivot to crypto to scale. It will encourage a wider mainstream use of blockchain tech adoption

Q: What is the difference between Quoinex and Qryptos? Why does Quoine have two exchanges?

[Kathy]: QUOINEX: fiat-crypto, QRYPTOS: crypto-only

Q: What does negative maker fee mean for Qryptos? I don’t understand this??

[Kathy]: negative fees essentially means maker rebates. It applies more towards traders who are also market makers.

[Panda]: For this, let Panda explain a bit.

Qryptos trading consist of market maker and market taker, which the trading fee will be different.

As a market taker, you are placing trade which incur trading fee of 0.15% charges for each trade order.

While as market maker, we consider you are providing market liquidity, so we are sharing 0.075% for the trading fee to market maker, that is why you can see -0.075%.

Example if you place $1000 As market maker, you will be getting $1000 + 0.075% Trading fee.

This is actually to encourage more people to place more order or bigger order :)

Q: How have the value of new ICO Tokens launched in QRYTPOS been? Do ICOs usually gain or fall in value when they get listed on QRYPTOS?

[Kathy]: Re Token Value: That’s a good question which I don’t have the answer for. The value of a token depends on the strength of the underlying project fundamentals, and the management team.

Q: Welcome kathy! i would like to ask why Qryptos doesn’t trade dollar? Will there be dollar in Qryptos soon?

[Kathy]: QRYPTOS is a crypto only exchange — so there will not be any fiat pairs on there

Q: What do you think the market potential of Hero is?

[Kathy]: Market potential of Hero is immense. We have 2bn unbanked market to tap. If executed right, we’ll have more people adopting Hero and other cryptocurrencies as a mainstream exchange of value

Q: What is the top priorities of your service?

[Kathy]: Top priorities of our service are:

1) Security — 2FA, 100% cold wallet storage, multisign authentication

2) Fast execution of orders

3) Community building — we want to hear from our customers on how we can continually improve and grow with our community

Q: Welcome Kathy. Can you tell us a bit more about “safety” I think our members are all aware what happened with Coincheck. Why are you better?

[Kathy]: Someone was asking about the Coincheck incident. That happened because the exchange stored their customer funds in hot wallets. We practice cold wallet storage (all offline) so hackers can’t get to our customers’ funds. However there is a tradeoff to this security feature. This means we cannot do instant withdrawals (like hot wallets can) because we go through manual approvals to move the funds.

Q: Will Qryptos never be available for Japanese or only now not available?

[Kathy]: The crypto pairs on QRYPTOS will not be available for Japanese residents until it is JFSA approved

Q: How fast to do you get verified in Qryptos? I applied for verification for Bittrex and it has been so many months but I have not been verified.

[Kathy]: Wow, Bittrex verification backlog takes months — yes, all exchanges are experiencing heavy loads at the moment. For us, it is peak period as well. Expect a few weeks.

This won’t really affect HODLERs.

You can still deposit and trade crypto on QRYPTOS when you sign up. If you want to withdraw, then we will require verification.

Q: What is the biggest achievement of QRYPTOS so far?

[Kathy]: I’d say the biggest achievement of QRYPTOS is enabling capital inclusion for other token issuers to provide liquidity for their token issuers and their business in the crypto markets in a secure platform.

Q: It looks like Qryptos is focusing on a lot of the new tokens, will Qryptos go after a lot of the bigger established ones not listed there yet like XRB, ADA, DASH?

[Kathy]: Good question. We have DASH on our platform. There are some integration considerations with some cryptocurrencies that have their own native blockchain, which takes time on the backend dev side. So we are prioritizing ERC-20 tokens at the moment, which is the gold standard for the ICO space at the moment.

[Panda]: As Katherine mentioned about this earlier , we will be consolidating our QUOINEX and QRYPTOS into LIQUID. If some of here has a little bit info about what is LIQUID, you will be blown away by what it can do.

Q: “By further developing our partnership with Quantstamp, we expect to further enhance ICO security in the crypto ecosystem and extend Quantstamp’s Proof-of-Caring spirit to the QUOINE community. The security protocol developed by Quantstamp Inc. will audit smart contracts using formal verification techniques to find vulnerabilities before they are published to the blockchain.” from — https://www.financemagnates.com/cryptocurrency/news/quoine-incorporate-quantstamps-security-protocol-secure-icos/

Will this affect coins already listed in your exchanges or this will just be for upcoming ICOs? Is HERO Token affected?

[Kathy]: Good question. We are at an initial stage of the partnership whereby we will select a Quantstamp verified project for a QRYPTOS listing and work together on implementing best security practices between both QUOINE and Quantstamp. We would encourage our token partners to consider Quantstamp for a security audit as well

Q: You are being sued right now in Singapore? Would this affect the exchanges if you lose?

[Kathy]: We are unable to comment on this case until the Singapore courts have made their decision. We believe our lawyers will do their best to represent us and trust the courts to come to the most fair decision.

Q: As a marketing expert, what do you see the Crypto industry holds for the next few months of 2018?

[Kathy]: The crypto industry will continue to grow as more innovators and companies focus on building meaningful products/services on the blockchain. This innovation in turn will drive the adoption of crypto as an utility/payments token. Over time, as markets mature, we will start seeing crypto/tokens linked to securities as well.

We’re already starting to see this with CME Bitcoin futures trading, and perhaps more ideas to come such as Bitcoin ETFs, etc

See: https://www.ft.com/content/28bcfc66-e1d8-11e7-a8a4-0a1e63a52f9c

[JR]: That’s the last of the questions sent to me.

Q: Before we end Kathy, a personal AMA trivia from you! What’s the best movie of all time? HAHA

[Kathy]: Hmmm… good question. I need to think about this one.

[JR]: Haha! The hardest questions always come last!

[Kathy]: Blood Diamond starring Leonardo DiCaprio

That’s why diamond provenance on the blockchain makes a good use case ;)

[JR]: Haha! Solid movie, Kathy! You’re a cryptohead through and through it seems.

[Kathy]: Crypto was more of a serendipitous thing for me, tbh

I started in banking and later on pivoted to tech start ups, and then ended up in a fintech VC >> blockchain >> crypto

I only started immersing myself in crypto when I joined QUOINE

The space is moving at lightspeed. Markets are 24/7… we’re really going cashless and decentralized.

I wouldn’t be able to have this conversation with you and everyone here if we weren’t going through a financial revolution right now. Or even hired amazing people in my team like Panda, Tam, and all

These are exciting times. We are lucky to be alive.

At this point in time :)

[JR]: Haha I think a lot of us in the industry have this similar trajectory. We didn’t expect to be here, but we’re glad we did. Trailblazers are always victims of serendipity and a little fearless bravery. Glad to know you’re one of us, Kathy! Yup, cyrpto does seem to be the future and we’re glad you’re here with us to be a part of it.

Thanks for doing this with us, Katherine! We appreciate what you’ve done for the HERO Community! We send our regards to all the fine people working with you in QUOINE.

[Kathy]: Thanks for having me JR and Panda for coordinating! Have a great weekend guys! TGIF

#HeroToTheMoon

[JR]: Have a happy weekend, Kathy! We had a great time with you. TGIF!

[Panda]: Have a great weekend everyone !

If you have any further question or curiosity , feel free to tag me @blueblueoutofblue at the channel ^^

[End of AMA]

If you want to read through the conversations of the AMA you can scroll through it in the HERO Token Telegram Group

Again, we express our thanks to Katherine for taking the time to answer our questions despite her busy schedule, Panda for helping set up the AMA, and the rest of the folks in QUOINE for making the AMA possible.

Finally, we want to thank the HERO Community for sending their questions and keeping the AMA orderly and respectful. It wouldn’t have been a success without your participation! Let’s continue working together to establish financial inclusion and help the millions of unbanked and underbanked people starting in Southeast Asia.

Best regards,

Your HERO Token team