Time: 19:00-20:15, December 24, 2018
Host: Cheng Jun (BigONE COO)
Keynote speaker: Tian Yong Bin (CEO of BigONE)
「Host」cheng Jun:
Dear BigONE users, hello! I'm Cheng Jun. Tonight is the day for our team to do live broadcast finally. If you are an old user, you may still remember that one year ago, on Christmas Eve, we gave the platform token to users who had participated in BigONE crowdfunding. As one who went through the ups and downs of BigONE at that time, we did take some detours this year. This year, we gradually lost the glory from the past, and let many supportive users worry about us. However, those happy voices have gradually passed away, and we have to grit our teeth and face the future.
Here, we would like to thank users who have cared about us from beginning to end. We would like to thank users who are still logging and trading in BigONE today. We would like to thank you for listening to us on the spot.
Today's live broadcast will be hosted by me, and at the same time, Mr. Tian, the new CEO of BigONE, will make a report for you. After the report, Mr. Tian will reply to some questions we have collected in the community. Finally, we have a free Q&A session, and we will answer your questions on the spot.
Now, let me introduce the CEO of BigONE: Tian Yongbin, whom we often call Lao tian. Mr. Tian is a master's student in automation faculty of Nankai University and was the President of guitar association of Nankai University. After graduating from University, Mr. tian received PhD offers from several famous American universities, but he chose to stay in Beijing to develop his career. He has been working in sina.com for two years with excellent performance. After leaving sina, Mr. Tian turned down tencent's Offer and started his own business in the field of online games, including a web and mobile game research and development company and an overseas publishing company. In 2017, he entered INB with a coincidence opportunity, namely INBlockchain, started another industry career.
Mr.Tian has a wide range of knowledge and rich experience in technology, management, investment, operation and market. Therefore, during his stay in INB, he participated in a large number of projects and works and was nicknamed chief handyman. This experience has also enabled Mr.Tian to accumulate rich experience in block chain and digital currency industry. Therefore, when BigONE needs an excellent CEO, Mr.Tian can be capable for the role.
Here, I let BigONE's new CEO, Mr.Tian report for you.
「CEO 」Tian yongbin:
Hello, I'm Lao Tian. Thanks for the introduction by our COO Cheng Jun. I used to work as a handyman in INB. My main task was to help various departments and projects complete their work better. Of course, I have been paying attention to the development of BigONE. After coming to BigONE, I found that the work I needed to be familiar with was rather complicated. Fortunately, with the help of Cheng Jun and Su Yi, I got familiar with the current work on the one hand and made an important plan for the future work on the other hand during the one-month period. Here, I would like to express my thanks to them.
In today's live broadcast, my explanation is roughly divided into three parts. First, I will introduce the BigONE team again. Second, I will explain the current work. Finally, I will introduce the future planning. In each part, I will add my practices and ideas. After I finish the explanation, welcome your valuable suggestions.
First introduce our team. BigONE's team has rich experience in the industry. At present, from the aspects of project analysis, data analysis, risk control, user operation, product development, etc., a complete working system has been formed. The current team is still expanding. I hope that we can fill in all the missing links in the bear market, temper the advantages that can be exerted, and be well prepared for the next round of bull market.
Today is the first anniversary of BigONE's launch. During this year, our exchanges and industry have experienced ups and downs, so report here, the mood is still a bit excited and complicated. It is winter, but fortunately, we have a clear job content and direction, so that our formation is not chaotic.
The first job that needs to be reported to everyone is also the first thing I have to do after I come, the thing is to stop mining. Although the trading mining model has some drawbacks, it has played a big role in improving the liquidity of the exchange and gathering popularity. However, considering some problems in the later mining period and the current market environment, we also fully listened to everyone's opinions and decided to stop mining. There are two key and prudent decisions to stop mining. First, the unfinished parts are destroyed. Second, the ONE that is received and frozen by holding BIG is resumed every day for one year. Regarding these, you can look at the announcements that have already been released. Any questions can be asked later.
The second work I want to introduce is the construction of the ONE Ecology. The ONE that we mined will become the token of the whole ONE ecosystem. Users hold ONE, which will not only get the return of BigONE trading fee, but also enjoy other ecological rights in the future. We hope to build a community where ONE holders share and build the ONE ecosystem. Let me take some scenes as an example. We develop a decentralized exchange BigDEX, so ONE holders can enjoy the benefits of this BigDEX at the same time;
We develop an INFO encyclopedia, so friends who participate in the construction can get ONE token rewards; we may let the ONE holder decide the listing, or the ONE holder may decide to delist; for example, using ONE may be possible deducting some trading fees, using ONE to get more airdrops, using ONE to directly participate in investing and incubating good projects, all of which can make our ecology prosper, and ONE Ecosystem Token will be around every aspect of our future work. For this part, you see the ONE's eco homepage as a reference: https://one.b1.run.
The third content to be introduced is the EOS ecological construction. As we all know, EOS's original station in China is Yunbi, Yunbi and BigONE have a strong historical relationship. For more than a year after crowdfunding, we have been focusing on and researching EOS technology and ecology and are strong supporters of EOS. At the beginning of the main network gets online, we supported the airdrops of multiple project tokens, and developed and launched real voting and RAM trading on the chain, providing EOS holders with convenient tools. It is worth mentioning that BigONE has always been one of EOS's most stocked platforms, and has the largest amount of EOS investors in the entire network. Based on these considerations, we plan to develop an EOS ecosystem portal that currently includes a DApp store, an EOS-based decentralized exchange, and a DApp incubator. Interested friends can go to EOS's Eco Home page: https://eos.b1.run.
What I can also reveal here is that we will run for the EOS Super Node and hope that everyone can support it. In addition, it is worth mentioning that the benefits of EOS ecological construction will also be shared with ONE holders. That is to say, EOS Ecology will be part of the ONE Ecology. Please wait and see.
Finally, it is also the most important part of our work, trading. Never forget why you started, and your mission can be accomplished.
We want to be a good exchange, and all work should be done around "trading" We will work hard in the following areas to make the exchange:
First, find high quality projects. In the current market environment, a good currency is the driving force behind the continued development of an exchange. To this end, we have established a professional project analysis team. Their daily work is industry research and project analysis to find high-quality projects and provide an important reference for listing on the exchange. In addition, we also share our research results through industry research product such as INFO Encyclopedia. We define an important indicator of a project, called activity. It measures a project from the perspectives of trading volume, number of trades, turnover rate, and project information disclosure. The higher activity, the healthier of the project, then the quality will be better. Of course, we will continue to weed out some long-term zero-activity projects.
Second, the aspect of liquidity. The depth of health and good liquidity are a systemic problem, and his root problem is the traffic. Now that we have made the ecology of ONE, we will bring more traffic and transform more new users through other sections of the ecology. At the same time, we will also make more preparations on the "products" to meet them and keep them: for example, the fee classification system, mortgage lending, deposit interest, OTC, etc., which can improve the conversion rate. Recently, we will give discount to some liquidity providers through the fee classification system. We will also try to adjust the Maker fees of certain trading areas to free or even negative rates for a limited time. We welcome professional trading teams to make trading in BigONE.
Third, introduce OTC and C2C peer-to-peer trading under the premise of compliance.
Fourth, open legal tender exchange in other countries and regions. We consider that some countries and regions have a relatively friendly regulatory policy for the digital currency industry, considering opening BigONE sub-station in these regions. Currently, we are working in seven countries and regions including Korea, Taiwan, the Philippines, Kazakhstan, Malaysia, Belarus and Australia. We will consider the return on investment, selectively open multiple sub-stations, adapt to the local market, open the legal tender trading pairs, share the trading depth, and complete the layout of BigONE to the global market. It is worth mentioning that the profits of overseas substations will also come out more than half to give back the holders of ONE. The above is the key points of the plans for BigONE to do the most core job - trading. My explanation is also here for the time being. I will hand over the microphone to Cheng Jun.
「Host」Cheng Jun: Lao Tian has actually entered the BigONE team for more than a month, because we want to make a surprise, so we have not introduced him public. What needs to be explained to you is that after the arrival of Lao tian, he brought us a very big change, and the cooperation between our old and new teams is also very smooth. Next, go to answer the question time. Many users have questions in the community. We have summarized these issues. Now let Lao Tian give you a reply.
Question 1: What is the relationship between Li Xiaolai, Lao Mao and INBlockchain and BigONE? Can BigONE's development be supported by their resources, and if so, what are the specifics?
「CEO 」 Tian Yongbin: Li Xiaolai, Lao mao are both partners of INBlockchain, and INBlockchain is the investor of BigONE. As an investor, Li Xiaolai does not participate too much in the specific operation of BigONE, but will give us a prohibited bottom line, such as prohibiting evil, brushing, and fraud. Laomao and BigONE are more like friends at present. As for their resources, we are based on the development and interests of BigONE. As long as it is good for BigONE, we will strive for it. Li Xiaolai and Lao mao will try their best to help us.
Question 2: What is the current situation about the ONE held by the team? According to the team's 40% calculation, the team locked ONE should = 1350.493/7.5=2.6 billion. In addition, some ONE (about 400 million) was distributed to other BIG holders in the early stage, so the team should have locked in 2.2 billion ONE instead of showing 2.9 billion in public. Please explain:
「CEO 」 Tian Yongbin: The ONE obtained by the team holding BIG is divided into two phases:
「First Stage」June 22 - June 29 and July 5 - July 21, during this stage the team received the ONE because of holding BIG.
「Second Stage」After July 21, the team destroyed 125 million BIG, set up a development fund, and closed the BIG trading pair. ONE obtained by holding 40% of BIG.
The sum of the above two parts also needs to be subtracted the one hold by team which obtained by holding BIG and the 29.412% of the ONE trading fee in the "first stage", (because this part is returned to the BIG holders in the platform in the form of ONE + BTC and not include "Team Account" + "Development Fund Account") Therefore, the actual number of ONEs currently held by the team is not exactly calculated in terms of an absolute ratio of 40%, which is slightly more.
Question 3: Will ONE consider to list on chain? No one knows how many ONE are there if you do not list on chain?
「CEO 」 Tian Yongbin: ONE must be on the chain in the future, let’s see which public chain is suitable, or should we make our own public chain, has not yet decided. Now I am more inclined to release ONE on EOS.
Question 4: How does BigONE view the advice of community users and respect the opinions of the community?
「CEO 」 Tian Yongbin: We have now established a diverse community, including WeChat groups, major user groups, and telegram groups in the mainland. And in English community we also have telegram group, VIP user group. In additional to that we also have Korea telegram group. We have also built overseas news channels such as medium, reddit facebook, twitter, steemit. For all purposes, except news and promotion, more important thing is that we would like to know the most realistic ideas and feelings from users.
However, in this process, we find that no matter what kind of way to collect user opinions, there will always be some uncollected and it is difficult to take care of all users. We respect the opinions of the community users, try to listen to them as widely as possible, and then make careful decisions.
Question 5: Will you open the function of one-key conversion from other currencies to one?
「CEO 」 Tian Yongbin: This function has been scheduled, but it take some times, because compared to some other major functions in our plan, this demand can only be temporarily postponed, and currently our resources must be concentrated to the most important aspects. I hope everyone understands.
Question 6: What is the relationship between PXN, CBX and BigONE? Is sharing depth feasible? Will it harm the interests of BigONE users?
「CEO 」 Tian Yongbin: PXN is a secure, fast and efficient cloud trading engine and enterprise-level digital asset security management solution independently developed by the former yunbi CEO team. it can help customers achieve near-zero technology and quickly open digital asset trading platform, providing flexible and powerful front-end customization and background management services, and all PXN customers can get through the depth. Both BigONE and CBX are PXN customers.
The depth of BigONE is its own. If other users of PXN such as CBX use our depth, we will discuss the cost of use. So these are not problems, but they promote each other. In theory, the depth will be better if you use it more. In addition, using PXN as our engine makes it extremely convenient for us to open a BigONE substation overseas, so that we can focus our attention on the business level. Waiting for time to go online
Question 7: Questions about BIG
「CEO 」 Tian Yongbin: In addition, the problems about BIG. I think this is a historic problem. We have made several announcements and have been reminded in a key position. Big has completed its mission, and its rights have all been transferred to ONE. I think that I will write a letter to the BIG holder and explain the situation of BIG again. Explain in detail the situation of BIG
Free Q&A session:
Q&A 1. ONE returns the income of trading fee, is there any legal risk?
「CEO 」 Tian Yongbin: Our lawyers are really doing compliance. We are doing this work in some countries and regions. Please don't worry.
Q&A 2. Is there enough ONE eco fund?
「CEO 」 Tian Yongbin : You don't have to worry about this, haha. We believe in the value of ONE. We have excellent team, they can do a good job in investment incubation and other ONE ecological construction. Even if it is not enough, we will find another way.
Q&A 3. When will OTC be available?
「CEO 」 Tian Yongbin: We are already developing OTC. In fact, if we do not consider the issue of legal compliance, we will be able to go soon. We are doing compliance work in some countries and regions. I hope to be there years ago.
Q&A 4. If it has been out of compliance, there is no certain date for OTC to be available?
「CEO 」 Tian Yongbin: My first job in joining BigONE was to work with a lawyer to study how BIGONE is doing compliance. The progress of the current work is ok. A lot of details are not convenient to disclose here, please forgive me.
Q&A 5. What is the participation method of the research (industry research)?
「CEO 」 Tian Yongbin: The current industry research, for the time being, our team members fill their own data in the background, and later we will let the project side to make data contributions.
Q&A 6. Which kinds of currencies are in the OTC mainly? The specific time?
「CEO 」 Tian Yongbin: Mainly BTC, ETH, EOS, USDT, etc. The specific time, as I said earlier that we will go online as soon as possible in the case of compliance. Well, development is not a problem for us. Here, I add a note about BIG. We have been very cautious about the handling BIG. Every time I carefully hear everyone's opinions, and then carefully announced.
Until now, we have done our best to make information public and seek opinions. Now that BIG's rights have been transferred to ONE, we have done our best to properly handle BIG and ONE. For more details, I will write an email to the BIG holder.
Q&A 7. Will the publicity of various incomes and profits of the future ONE ecology be announced?
「CEO 」 Tian Yongbin: Yes. Now we are doing something like this, including holding the trading fee for the ONE. These will be publicized.
Q&A 8. Define the ONE ecology. Is it related to Mixin.one and Candy.one?
「CEO 」 Tian Yongbin: Of course it doesn't matter. These are just domain name are ONE. About ONE Eco, you can go to our official website to learn more.
Q&A 9. Mortgage loans, deposit interest rates, trading fee classification, OTC. Are these projects for time planning?
「CEO 」 Tian Yongbin: When I joined BigONE, I set up a new development team outside the trading business to develop such OTC and mortgage lending. These we all have priority. The first one will go online, it will be OTC. More detailed time, it’s hard to give now.
Q&A 10. Which country does BigONE exchange come from? How many people are there in BigONE, what is the scale? How to support the construction of so many projects that Mr. Tian said?
「CEO 」 Tian Yongbin: Our BigONE is actively doing compliance work in some countries and regions. The current number of people is not disclosed. But it certainly can support the construction of some of the projects just mentioned. We will keep stable and make it step by step.
Q&A 11.How does BigONE position itself in so many exchanges?
「CEO 」 Tian Yongbin: The most important thing is to be ourselves. We uphold our principles and, in the moment, do a good job of trading and make the ecology of ONE well.
Q&A 12. Deep sharing with PXN means that everyone will experience the same trading effect from any exchange based on PXN? In this case, where is the advantage of BigONE?
「CEO 」 Tian Yongbin: First of all, there is a misunderstanding here. The trading pairs on these exchanges (exchanges based on PXN underlying technology) are different, and overlapping pairs of trading will share depth. In addition, please don't misunderstand. Every time we share a depth with a trader, it is actually introducing a market maker, which is good for BigONE, if we have to discuss a good business model.
Q&A 13. ONE ecological profit repurchase and destruction, how to publicize?
「CEO 」 Tian Yongbin: We will first publicize the ONE ecological layout. According to the public profit, we will spend more than 50% to buy back and destroy ONE. Every step will be announced. Please don’t worry.
Q&A 14. Where does the BigONE Incubation Project come from and now there is almost no income?
「CEO 」 Tian Yongbin: Incubation project, in fact, we are facing the early team. They need more traffic and connections, or other industry support. We have the strength to meet them in these areas.
Q&A 15. Will BigONE open a contract?
「CEO 」 Tian Yongbin: We are still discussing this issue today. I think it is possible. But we did not figure out a mature solution so far.