On May 20, Elliott, head of MetaTrads Asia, visited the nightshade community and held an AMA event to learn more about MetaTrads. Here is a recap of the AMA event:
1. Recently when we think of NFT, we think of MetaTrads, how did MetaTrads come about?
We all know that NFTs are very popular, but NFT transactions actually have certain problems. For example, the liquidity of NFTs in the secondary market is very poor, the entry threshold is high, and the empowerment is weak.
The MetaTrads team actually wants to work on changing the status quo.
Therefore, a group of geeks in Silicon Valley, that is, the technical team of MetaTrads, founded this new NFT trading platform to open a new generation of transaction mining mode. Now it has obtained multiple overseas capital investments such as Multicoin Capital, LATOKEN, Deserve, flipsidecrypto, etc.
2. What does MetaTrads say about the current NFT situation?
NFT transactions mainly face three major problems:
First, the NFT secondary market has poor liquidity. Behind the high transaction quota, there are actually only a few giant series of NFTs in the turnover.
Second, the entry barrier is too high. The value of the valuable NFT in the head is more than a dozen, starting with hundreds of ethers, and it belongs to the game of the rich. It is difficult for traders with small capital to enter the market.
Third, NFT empowerment is weak. When the Metaverse is still the tip of the iceberg, the gameplay of NFTs is also very monotonous, and it is just a gameplay such as airdrop dividends.
So in fact, the current status of NFT transactions is in urgent need of someone to break through these shackles. And MetaTrads is the pioneer in this change.
3. Do MetaTrads have a solution to the current problems facing NFT?
Of course, the MetaTrads team has done a lot of innovation to solve these problems.
For the problem of poor liquidity in the NFT secondary market, the platform will solve the problem from the underlying economic logic, because MetaTrads adopts a dual-token transaction mining reward mechanism. As long as you trade on the platform, you can get usdt and MT tokens as rewards, thus encouraging Users trade NFTs. Of course, in order to achieve good results, the platform will maintain the value of MT tokens.
In terms of NFT empowerment, the platform is more demanding of perfection, innovating NFT synthesis and other gameplay, and using multiple methods such as price increase mechanism and review mechanism to empower NFT, don’t worry about these points.
4、 What’s different about MetaTrads’ NFT?
First of all, MetaTrads has made a big innovation in the way of NFT transaction mining. In traditional NFT transaction mining, the trading platform is very dependent on the price of the platform currency, because the reward obtained by the user’s transaction mining is the platform currency. When the platform currency fluctuates greatly, the user’s income will drop sharply, triggering a sell-off, and the platform will fall into a spiral of death. Therefore, MetaTrads is the first to make changes, adopting the dual reward model of USDT and MT trading and mining, so that MetaTrads NFT can develop more stably and its value can be transferred better.
In addition, apart from the differences in transaction modes, in fact, the differences in NFTs on the MetaTrads platform are mainly reflected in the value maintenance of NFTs by the platform. The value of NFTs on the MetaTrads platform is even higher. The platform maintains the value of NFT mainly in three ways.
First, the innovative gameplay of the platform increases the value of the official NFT. The MetaTrads platform will open the synthesis method. When the synthesis function is enabled, users can synthesise multiple NFT cards in their hands into one NFT card. Through destruction and resynthesis, the overall market circulation of NFT is less and less. So prices are rising steadily and reasonably.
Second, empower NFT through the price increase mechanism. Based on the price spiral mechanism, traders are more profitable to promote transactions, and NFT can obtain higher financial value.
Third, the quality of NFT projects is guaranteed. The MetaTrads platform adopts a strict NFT project listing review mechanism. This review mechanism will provide a foundation for the quality of the online NFTs.
The above series of measures will keep certified NFTs on MetaTrads in a high-quality, scarce and valuable position.
5、 What’s so special about Trade Mining at MetaTrads?
First, unlike LooksRare and x2y2, MetaTrads adopts a dual-reward mechanism of MT tokens and USDT. Under such a dual-token reward mechanism, users can not only obtain stable Usdt income, but also pursue long-term development of MT rewards.
Second, the MetaTrads platform has launched a new transaction mining logic: the initial daily fee is only 2%, but each time NFT is sold, the transaction fee will be 1.25 times the previous sale. This will be a very powerful deterrent for the speculators since the fee bonus makes the brushing cost for the speculators significantly higher.
Third, the platform will use 10% of the transaction fee income as activity incentives, and continue to hold activities to reward users who actively participate in transaction mining, so that traders can get surprise benefits.
Fourth, the transaction mining of MetaTrads is not only linked to the transaction volume, but also joins the community identity and team system. The loyalty of user transactions is distinguished by community identity, and 45% of transaction fees are fairly rewarded to platform promoters according to the team’s activity.
6、 Speaking of MT tokens, is there any advantage in trading?
MT is the platform equity currency of MetaTrads. To put it bluntly, it is a reflection of the value of the trading platform itself.
MT reflects the market’s development expectations for this platform. Users who are optimistic about the platform can hold MT to rise and gain higher profits. Even if it is not optimistic, it is still possible to share the USDT transaction fee profit through transaction mining.
Since the platform will maintain the value of MT tokens in various ways, such as 30% of the platform fee to buy back MT, use MT to deduct platform fees and other application scenarios, as well as 1% of MT transaction points and all MetaTrads NFTs All MT for synthetic payment will be destroyed, etc. When the currency price maintains a steady rise, the trading volume of the platform will increase, and the income of users will increase accordingly, forming a benign closed loop, and the platform can develop better, so that the value of the equity currency MT, which represents the development of the platform, will increase. Loyal users who participate can also reap extraordinary benefits.
7、How is the MetaTrads？
Since last year, MetaTrads has not only stepped up the technical development of the platform, but also carried out global community building. After months of promotion, it now has a certain user base overseas, and many overseas fans have been looking forward to the official launch of the MetaTrads platform.
8、How to participate？
After months of development and community building, MetaTrads is about to become available to the public.
On May 26th, INO officially started. A total of 60,000 MetaTrads NFTs were launched worldwide, of which 50,000 were publicly available, and 10,000 were used for airdrops on Discord and other channels. These NFTs will be used as the first batch of seed NFTs for MetaTrads transaction mining, and their scarcity provides a good guarantee for future value increases.
When the INO is completed, the IDO event will follow. Users who hold MetaTrads NFT are eligible to participate in IDO. In other words, owning MetaTrads NFT will get the whitelist qualification for MT subscription. There are a total of 12 million MTs participating in IDO, that is, each NFT-holding address can subscribe for a maximum of 200 MTs at a discounted price of 0.05u. It is worth noting that MetaTrads officially does not pre-mine any MT. The 12 million MT of IDO is the entire circulation of the platform when the platform is launched, and the remaining MT is all fairly produced by transaction mining.
After the successful completion of IDO, MT will first launch Pancake to anchor the currency price, and then the MetaTrads trading platform will be officially launched, and users will start trading and mining. Since then, MetaTrads will continue to hold various activities to distribute benefits, and interested friends can pay close attention to community-related information.
9. Do MetaTrads have any thoughts on the future development of NFT beyond the metaverse?
MetaTrads will focus on NFT Fi, GameFi, Metaverse and other extended fields in the future.
Because the team has always believed that the multi-dimensional and innovative NFT transaction is only the starting point and foundation of MetaTrads, and the future value of the platform and equity tokens will spread on this foundation, with unlimited space.
This is followed by a free Q&A session:
1. What is the price of the public offering, is it the same as the airdrop of 10,000 nft rights? How many can one person buy?
The price of IDO is 0.05u/MT, and only users who hold NFT are eligible to subscribe. 10,000 airdrops will be released later, please pay attention to the official Twitter or discord. The links are https://twitter.com/MetaTradsreal and https://discord.gg/H7dQegcSNt
2. Which links are currently supported, and which wallets can be used?
Currently supports bsc, and will support multi-chain in the future. Wallets such as bitkeep, metamask and tokenpocket can be operated
3. What does it mean that the MetaTrads platform adopts the dual-currency system for mining? Do I have to use MT and USDT as collateral for mining or do I need to consume MT and USDT?
No, no, that means double the payout, not the double spend. Meaning, when you trade NFT, you can get MT and USDT
4. Right now, the market is undergoing drastic adjustment and the risks are great, but it is also a great opportunity to develop projects. What are the characteristics of your project and how can your development strategy compete and stand out from other projects?
The highlight of this project is that through reasonable economic logic, users can carry out transaction mining, obtain usdt cash incentives and MT token rewards, thereby releasing the liquidity of NFT. In addition, there are fascinating gamified clan mechanics, allowing players to get more benefits in the battle. The platform will return 85% of the handling fee to players in various ways to achieve a truly powerful NFT trading platform.
5. The MetaTrads platform has launched a new transaction mining logic: the initial daily handling fee is only 2%, but each time NFT is sold, the transaction fee will be 1.25 times that of the previous sale. So, will the user not want to continue mining in the future because the handling fee is too high?
When the fees are too high, users will naturally choose other NFT transactions. In addition, when the handling fee is higher, the reward amount shared by the whole network is also higher. In short, MetaTrads will give the power of choice to the market, allowing players to choose for themselves.