Eterbase AMA Recap
CryptoDiffer team
Hello everyone!
We are glad to meet here
Robert Auxt – CEO at Eterbase
Tomas Pristac – CBDO at Eterbase
Please introduce yourself briefly to the CryptoDiffer community!
Robert Auxt
CEO
Hi, I am the CEO and co-founder of Eterbase. Previously, I was involved in investment bnaking, VCs, sovereing-wealth fund and other investment related jobs. Started to be involved with crypto after 2011 banking crisis.
Tomas Pristac
CBDO
Hi ladies & gents, my name is Tomas, currently serving as CBDO at ETERBASE. My background is capital markets, private banking, investment banking and financial services where I served in various positions for 10 years. My 2 main duties at ETERBASE are: #1 Elaborate business development plans, design and implement processes to support business growth, through customer and market definition.
#2 Facilitate business growth by working together with clients as well as business partners (suppliers, subcontractors, JV partners, technology providers, etc.)
CryptoDiffer team
Can you briefly describe what is ETERBASE in 3-5 sentences? What technology stands behind ETERBASE and why it’s better than the existing one?
Robert Auxt
CEO
Eterbase is a bank grade crypto platform combining IBAN accounts and crypto exchange that offers negative trading fees for market makers and free EUR-SEPA deposits and withdrawals (also applies to stablecoins). As per technology we are running on multiple nodes and our architecture is fully scalable capable of processing orders extremely fast mainly via our API.
CryptoDiffer team
What are the major milestones you have achieved so far?
Robert Auxt
CEO
So far we were able to integrate our IBAN clearing module and several core modules such as multi-level referral system, dashboard, negative fees, implementation of Eurbase (our stablecoin). As per future we are currently preparing several new things such as p2p lending, own trading bot and direct swap functionality among many other things.
Tomas Pristac
CBDO
Also one of milestones was partial swap of our ERC223 native utility token to binance’ BEP2 based token
Cryptodiffer Community
What are the major milestones eterbase have achieved so far? seems no one asking about this one ?
Do you have plans to spread Eterbase ecosystem across other continents. if yes, what are the strategies and how can I as a community member contribute to making it possible?
Tomas Pristac
CBDO
So far we were able to integrate our IBAN clearing module and several core modules such as multi-level referral system, dashboard, negative fees, implementation of Eurbase (our stablecoin). As per future we are currently preparing several new things such as p2p lending, own trading bot and direct swap functionality among many other things. Also we successfully swapped our native utility token partially to binance’ BEP2
Cryptodiffer Community
Why In the decentralized economy of the future, there will be a need for decentralized payment platforms ? And how you solve this ?
Robert Auxt
CEO
Currently, we are trying to solve the interconnection between legacy payment systems such as SEPA and world of DLT. We are offering on/off ramp for both retail and corporate clients such as funds to manage their FIAT and crypto needs at very competitive prices even enabling negative trading fees for market makers and hecne driving more adoption for blockchain/DLT in general.
Cryptodiffer Community
What have you envisioned with ETerbase exchange?
Which companies do you view as potential partners who would user bringers to Eterbase exchange?
Tomas Pristac
CBDO
We just started our Treasury services programm where many great companies, projects can join us such as FERRUM NETWORK, THORCHAIN, and many others waiting for agreement…. Beside of this programm, we want to target to traditional old school capital markets firms
Cryptodiffer Community
1 – What are the non-crypto related service does Eterbase offer? How you are attracting non-crypto investors to the Eterbase exchange? Also what’s your competitive advantages apart from other competitors?
2 – How Globally Eterbase is seeing to expand or just in the UK market? How you are making the product more assessable for global market?
Robert Auxt
CEO
1. Our main product is cash managment via Majestic Omnibank and our second product will be p2p lending (also on FIAT-to-FIAT basis). As per our competitive edge we are offering free deposits/withdrawals for EUR SEPA and negative fees for market makers that in long-temr mmakes difference to users. 2. We currently serve the entire EU for crypto-to-fiat services via SEPA and Instant SEPA and for crypto-to-crypto we serve clients globally.
Cryptodiffer Community
Could you explain the following terms for those new to Eterbase? Negative trading fees? OEO?
Robert Auxt
CEO
Negative Trading Fees
As mentioned in our article as a market maker you can earn fees that would otherwise be earned by the exchange itself. Essentially, fees from takers are being split between the exchange and the maker so in the result instead of paying fees for trading you will be earning fees (e.g. negative fees).
Cryptodiffer Community
Margined, perpetual swap, Futures is a goose that lays golden eggs. The race to take the No. 1 position on Margin among the major exchanges is fierce. Good news for Blockchain every day. So in your opinion. Will Eterbase follow this race in the future?
Robert Auxt
CEO
We might be exploring derivatives next year if we will be able to get a full clearance for it from the regualtor.
Cryptodiffer Community
Can you let us know what is Eterbase Treasury Gateway and how will it acccelerate wider adoption of crypto by facilitating B2B transactions with traditional industry ?
More exchanges are developing their ownchain to make their exchanges more secure, even fund recovery function is available too(Gatechain). So, does Eterbase have any plan for this?
Tomas Pristac
CBDO
Treasury Gateway Service is unique concept of cooperation between ETERBASE and our general pazment provider and third party/project. New listing at eterbase can receive a real fiat gateway not only for general purposes, but with this connection the project can build enterprise fiat gateway for its users and community. So, all users of project can obtain IBAN EUR account e.g.
Cryptodiffer Community
” The increase in cryptocurrency exchanges also resulted in a relative rise in network hacking. Many exchanges, thus far, have fallen victim to hacked networks, which have resulted in user data being compromised. In the worst cases, some exchanges have suffered massive losses as a result of the hacks.” As an investor, taking risk is your principle and winning the risk is your goal.
Q. Is the Eterbase ‘s Technology safe for big businesses and investors?
Robert Auxt
CEO
https://medium.com/@ETERBASE/eterbase-receives-security-audit-certificate-c3cad1f579f3
We have a very experienced security team with experience from military to banking and also working with external teams to improve our security measures. Also we are conducting regular security audits.
Cryptodiffer Community
There were Challenges and issues in cryptocurrency trading: beyond the controversies especially on “Liquidity, Trading Fees, Security, Credibility,Transparensy, Decentralization, Price Manipulation, Transaction Delays, and Regulation.” How do you deal on this kind of issues?
Robert Auxt
CEO
As per fees we are offering even negative fees and free withdrawals for stablecoins and EUR SEPA. As per regulation we are going to obtain exchange/wallet provider license in line with AMLD5 next year and we also closely cooperate with the local regulator:
https://medium.com/@ETERBASE/eterbase-a-s-obtains-opinion-from-the-local-central-bank-164c4fb4ee33
Cryptodiffer Community
Q1: Eterbase says Trade with negative Fees. How is it possible to make a profit for Eterbase then?
Q2: How SECURE is your platform? How do you act in a HACKING situation? Any “User Protection Fund”? Any plan to reimburse your customers against any hacking issue?
Robert Auxt
CEO
Q1: We split the fees so we still getting a proportion of funds from takers. Q2: Currently, we cover a proportion of our deposits with own funds and working on formal insurance solution.
Cryptodiffer Community
How can you survive this longest bear market and continue to build and develop because many projects have been edited this time, what are the main strengths that you used to achieve this milestone?
Robert Auxt
CEO
We have lived over the crypto winter and we are very efficient in terms of managing our costs, but we are still able to deliver a very competitive products and we think we can endure more bear market if necessary withou major problems.
Cryptodiffer Community
1. In your website, you explian roadmap goals, i am very interesting in the Q4 of 2019,” launch of iOS and Android Applications”, Can you tell me which is the current status of this App?
2. What problem you want to solve with this applications, just help to eterbase to be mobile or there something else?
3. One of the thing than make different eterbase of anothers exchangers is the ability to trade with negative fees just to the premium members, Can you explain who this can be done in a simple words?
4. How do you manage the automated master node and staking integration?
Tomas Pristac
CBDO
1. business analysis ongoing 2. to be mobile, smart, more intuitive, and accesible for masses 3. basically if you buy and lock some XBASE tokens, and enroll to Premium membership levels, you will receive a portion od trading fees from a trade up to 50%
Cryptodiffer Community
For many people, privacy is priceless. Recently, we heard many scandals about user data leaking on Facebook, Bitmex, etc. So, how will Eterbase team guarantee the privacy for your users but still ensure the data transparency for regulation requirements?
As i know that Eterbase just joins THORChain as BEPSwap Launch Partner. So, what is BEPSwap and which benefit can it bring to Eterbase ecosystem?
Tomas Pristac
CBDO
As we mentioned few times, we have several levels of security to ensure a very high level of user data protection. We regularly monitor and improve our security processes, including findings from the hacks you mentioned, if applicable. Our team has a deep understanding of the data protection area that has been gained from various projects at national level (national eHealth and health record data protection, citizens’ electronic identification system, etc.).
Cryptodiffer Community
How will you climb the rankings of exchanges with so much competition? What is the competitive advantage Eterbase has that you feel most confident about?
Robert Auxt
CEO
Mainly on-exchange IBAN accounts, negative trading fees, free withdrawals for stablecoins/EUR, multi-level referral system and we will be adding a lot of new things such as p2p lending and many others as we go.
Cryptodiffer Community
Do you have any plans to attract non-crypto investors to Eterbase exchange and how? What are the actions to increase awareness around Eterbase exchange in non-crypto space?
Tomas Pristac
CBDO
We will be sponsoring a new study programm at SLOVAK TECH UNIVERSITY for example
Cryptodiffer Community
As a Beginner in cryptocurrency, Can you give an idea about Eterbase Exchange ? Can i create account on Eterbase and trade cryptocurrencies on Eterbase ?
Robert Auxt
CEO
Yes you can. We are also trying to improve our UI to be also more suitable to beginners. We will be also rolling out our mobile app that will target mass market more efficiently.
Cryptodiffer Community
Can you let us know what is Eterbase Treasury Gateway and how will it acccelerate wider adoption of crypto by facilitating B2B transactions with traditional industry ?
More exchanges are developing their ownchain to make their exchanges more secure, even fund recovery function is available too(Gatechain). So, does Eterbase have any plan for this?
Eterbase Team
We dont plan to implement such chain for security reasons, we do have plans to lunch our blockchain but main focus is in the area of DEFI applications, ( DAG based blockchains or other very fast and transactions fee friendly system )
Cryptodiffer Community
Q1. For a new exchange the most obvious problem is adoption & liquidity, How Eterbase is handling these problems?
Q2. Eterbase says that it deploys AI & other security measures for securing users data. But still AI is autonomous. Doesn’t it create any problem in long-term in your opinion?
Robert Auxt
CEO
Q1: We are taling to several funds to provide liquidity and we will make sure that liquidity for main EUR pairs will be improving a lot.
Q2: AI is in semi-autonomous regime and is capable to learn and improve in terms of detecting potential risks. If managed correctly, it should really enhance and streamline some mundane security processes.
Cryptodiffer Community
Margined, perpetual swap, Futures is a goose that lays golden eggs. The race to take the No. 1 position on Margin among the major exchanges is fierce. Good news for Blockchain every day. So in your opinion. Will Eterbase follow this race in the future?
Tomas Pristac
CBDO
For sure we will join the competition, for example we would like to bring brand new investment asset classes and new financial services (crypto, crypto/fiat, new underlying assets etc.)
Cryptodiffer Community
What are the major milestones eterbase have achieved so far? seems no one asking about this one?
Do you have plans to spread Eterbase ecosystem across other continents. if yes, what are the strategies and how can I as a community member contribute to making it possible?
Eterbase Team
We are live and functional as promised and working to deliver new features that have been promised to traders so that we are attractive to them.
Cryptodiffer Community
For many people, privacy is priceless. Recently, we heard many scandals about user data leaking on Facebook, Bitmex, etc. So, how will Eterbase team guarantee the privacy for your users but still ensure the data transparency for regulation requirements?
As i know that Eterbase just joins THORChain as BEPSwap Launch Partner. So, what is BEPSwap and which benefit can it bring to Eterbase ecosystem?
Robert Auxt
CEO
We are GDPR compliant and we are not storing customer data on the system but, on separate firewalled servers. ?As per Thorchain we will implment some of its Swap functionality and staking. In this way we will increase liquidity for our exchange and for our stablecoin – EURBASE.
Cryptodiffer Community
Can you let us know what is Eterbase Treasury Gateway and how will it acccelerate wider adoption of crypto by facilitating B2B transactions with traditional industry ?
More exchanges are developing their ownchain to make their exchanges more secure, even fund recovery function is available too(Gatechain). So, does Eterbase have any plan for this?
Robert Auxt
CEO
We will make it in general easier and more friendly to open a corparate account for crypto/blockchain projects in general. We will be announcing some interesting things as per asset recovery next month with some top solution provider.
Cryptodiffer Community
How can you survive this longest bear market and continue to build and develop because many projects have been edited this time, what are the main strengths that you used to achieve this milestone?
Tomas Pristac
CBDO
Cause we are designed to survive and become first real compliant digital asset ecosystem holding (not only exchange or wallet provider but sphere where you could find new financial services and connect institutional investors with retail, and old school capital markets with brand new asset classes opportuinities)
Cryptodiffer Community
Adoption is one of the important factor that all sustainable blockchain projects should focus to be more attractive in the investors’ eyes. Can you tell me what Eterbase has done and plans to do to achieve real world adoption?
Robert Auxt
CEO
As per real world utility we have integrated IBAN accounts on our platform that enables you to send and get EUR payments within minutes if your bank supports Instant SEPA. We will move beyond theis with FIAT-to-Crypto lending interactive mobile up that to larger degree will be able to replace your banking needs in the EU.
Cryptodiffer Community
1. In your website, you explian roadmap goals, i am very interesting in the Q4 of 2019,” launch of iOS and Android Applications”, Can you tell me which is the current status of this App?
2. What problem you want to solve with this applications, just help to eterbase to be mobile or there something else?
3. One of the thing than make different eterbase of anothers exchangers is the ability to trade with negative fees just to the premium members, Can you explain who this can be done in a simple words?
4. How do you manage the automated master node and staking integration?
Tomas Pristac
CBDO
4. ETERBASE is using multiple master nodes for different blockchain networks. Nodes are running in a separate / isolated environment with a limited access and high protection. Each node is under continuous monitoring, and in case of any anomalies our infra and security team members are notified for manual intervention.
Cryptodiffer Community
How do you build liquidity for your exchange ? Anh how do you select projects to list on Xbase?
Robert Auxt
CEO
We are doing several things to get more liquidity on the platform mainly in the form of new listings and partnering up with liquidity providers (FX funds for example).
Cryptodiffer Community
You will agree with me that adoption and UTILITY is very key to project survival, what’s being done to drive global adoption of #Eterbase admist crypto regulation and legislation?
WHAT’S MAJOR Milestones do you want to achive by end of this year and what setback did you encounter during launch and how did you overcame them ?
Robert Auxt
CEO
We have several milestones. We are preparing to open up our Hummingbot connector very soon for example. In the mid-term we are preparing our own trading bot platform called Eterbot and as previously mentioned p2p lending and enhanced bank-like functionality for retail and corporate clients.
Cryptodiffer Community
What have you envisioned with ETerbase exchange?
Which companies do you view as potential partners who would user bringers to Eterbase exchange?
Robert Auxt
CEO
We are currently announcing partnerships on almost weekly basis and we are currently working on some strategic ones mainly for security, liquidity and compliance. Our vision is to bring traditional banking and crypto into more seamless experience with some DeFi/CeFi features on board as well.
Cryptodiffer Community
Q. 1 Does eterbase have any plans to expand into Asian community? What are the marketing plans you look forward if you want to expand to Asian community??
Robert Auxt
CEO
We are currently focused on Europe, but will definitely try to expand in Asia later on with some solutions (for example providing JPY on the platform).
Cryptodiffer Community
Now a days, cryptocurrencies are red hot in the eyes of businessess via online. As a matter of fact, im always dreaming of carrying no money inside my pocket except my card(where my money were safely stored).
Q. How are you planning in addressing to this new high valued market system?
Follow up question would be this.
Q. What is the scope and limitations of Eterbase’s technology that runs on multiple nodes whereon architecture is fully scalable capable of processing orders extremely fast mainly via API?
Robert Auxt
CEO
Q1: Mainly to find more utility for crypto in general (loans maytbe even direct investment into real assets). Q2: currently we are limited by number of nodes (servers) not by architecture on its own and should be able to scale up to 100k+ concurrent users without major issues if needed.
Cryptodiffer Community
Could you explain the following terms for those new to Eterbase? Negative trading fees ? OEO?
Tomas Pristac
CBDO
As most of people are familiar with terms such as ICO and IEO we are introducing a simplified version of IEO for projects that have had limited exposure, are not listed on liquid market or want to rise additional funds via exchange without complicated process like ICO/IEO. So what is OEO? In simple terms OEO stands for Order Book Exchange Offering, which means that tokens/coins are sold directly via order book at pre-selected tiers divided by price and quantity of assets sold. Time span for transactions is short and remaining/unsold supply is burnt after conducting OEO.
Cryptodiffer Community
In the cryptospace, there are lots of exchanges, can you tell us the uniqueness of Eterbase?
X BASE B, X BASE, EBASE, these are the coins from your exchange, can you tell us the utilities of these coins and why did you develop several coins?!
Robert Auxt
CEO
XBASE – ERC223 utility token, XBASE-B BEP2 Binance Chain utility token, EBASE ERC223 stablecoin.
Cryptodiffer TEAM
Thank you @Rax85 @martinsmutny @Tomas_CBDO_ETERBASE for you time and answers!
Thank you everyone for taking part today! A lot of great questions!
Robert Auxt
CEO
Many thanks!
