Due to the unstable situation in the market, the CEO of the Nominex and Nomiswap project Pavel Shkitin held a live broadcast, in which he shared the general vision of the team and answered questions from users.
Now in the crypto market, and not only, there are very difficult times: funds are falling, the crypto is falling, UST has recently been scammed. There are rumors about other stablecoins, and it is not very clear what kind of turbulence is happening in the market. It should be understood that any investment and any form of holding money is subject to risks. Nobody knows what will happen next – neither bloggers, nobody. You need to learn to take these risks, calculate and determine the degree of risk that you are ready to bear. Here's the backstory for the entire market. Let's move on to questions.
Is Nominex a scam? What is a scam and how does it happen?
Scam can be deliberate – this is when the project management took the project's money and simply disappeared. There is also a technical scam – when a project or product behaved differently than it was originally laid down in the mechanics. A striking example of a technical scam is LUNA. There was a UST stablecoin, which was supposed to be equal to $1, but due to some gap or defect in the project model, in the collateral model for this stablecoin, it ceased to be equal to $1. There was a significant deviation from the technical behavior, and then everything along the chain collapsed. Everything that happened with LUNA can be called a technical scam. And about whether this happened intentionally or not, the court should figure it out.
What do we see now, what is happening in the market with Nominex and Nomiswap? The overall market is falling, and against the backdrop of this fall, the NMX token also began to correct. We have never said that our token is stable and its price cannot be lower than some value, and we will never say this. NMX is a freely traded token on the market, and its price depends on supply and demand, on how much it is bought and sold every day. That there are corrections in the markets and bearish cycles is a well-known fact. Our project and our token live in this market and work according to the rules of this market. Some coins may fall slower, others faster. Fundamentally, the fall in the price of a token at some point in time is an absolutely natural thing, which is determined by the laws of the market, supply, and demand. It is inappropriate to talk about scams here. A change in the price of a token is not a scam, it is normal market behavior. You can talk about the reason for its fall, and we'll talk about that too.
Moving on to the next question, yesterday we made the announcement that we will gradually withdraw liquidity from the NMX-BNB pool and put it into other pools, in particular in the NMX-USDC that we created yesterday. BNB price changes affect NMX price changes. When the price of BNB against USD/USDT falls, arbitrageurs are automatically connected to this process – those people who earn on the difference in exchange rates in different places/pools. By moving money between BNB-NMX and NMX-USDT, at the moment the price of BNB moves up or down, the price of BNB and NMX is balanced. You can read the details here – about how arbitrageurs make money out of thin air and thus balance the value of coins in all markets. There you can see the mechanics of how the BNB price drop affects the NMX price drop.
Some people have rightly pointed out that if BNB has a negative effect on NMX at the time of the fall, then in theory it should have a positive effect at the time of growth. This remark is correct if only mathematics is taken into account and the market itself is not taken into account. There was the first market down cycle when the entire crypto market went down. In small steps, the price of NMX began to follow BNB. Our community didn't buy or sell NMX, but it suddenly started to fall. Someone, seeing the fall, also decides to sell, thereby aggravating the fall of NMX even more, reducing the price even more. The market and community that trades BNB and NMX are very different, and the panic in NMX is more pronounced than in BNB, where there are millions of people trading it. It is more difficult to panic with a large token that has huge liquidity. The fall of the BNB token is a trigger for NMX, and only then some people pick up the fall of NMX and make it worse. If then BNB starts to grow, at this moment arbitrageurs join in and start to positively influence the price of NMX. In the event of a fall, there were people who exacerbated the fall of NMX through a panic sale. In the opposite direction (in the direction of growth) it works more difficult for NMX because many people who have sold NMX and made losses look at NMX very carefully. The market for those who trade NMX is smaller than those who trade BNB, which means that the strength of NMX traders is not enough to push NMX up by the same proportion. In the case of the first fall, BNB fell to $180, then grew to $240 and today (06/30/22) fell to $200, but the behavior of NMX, in this case, is different – with a more pronounced downward trend.
It turns out that the negative impact of BNB is more pronounced than the positive one. Out of the blue, the BNB-NMX pool harms our token and has a negative color for the price. We need to get rid of this pool, and we will do it gradually. We also need to increase the number of our traders, and the community and improve the product. As long as the strength of the NMX market is less, BNB will not influence us very well.
What will happen to the price of NMX? What is our price increase plan?
It is guaranteed that the price of NMX can be increased only if we buy back all the tokens from the market. But we can't do it. Our value is that we make a product that people need. Our token is utilitarian, and we also made farming utilitarian. We can use some tricks to keep the price of the token or push it up. We raised APR two times when the overall market fell. But we cannot do this all the time. A higher APR means more tokens are coming to the market and more people are selling on the market. We cannot print tokens indefinitely, otherwise, we will end up with a situation, as happened with the printing of dollars by the American government. They have printed many trillions of dollars and many believe that the current crisis is a consequence of the big money printing. Any uncontrolled printing of money devalues them. We can't raise the APR all the time, it will cause the price of NMX to drop, and too many tokens will be circulating in the market.
There are some features that we have already implemented or plan to implement. Firstly, these are boosting pools, where people will have to freeze funds for a certain period in order to increase income. Here is a complete analogy with the bank. You come to the bank and put money on deposit, at interest. Let's say there is 5% per annum if you put in a month, 10% for 3 months, 20% for a year, etc., and it works. Why do banks do this? These are the basics of economics: the more money people keep in banks, the more stable the economy. Boosting pools will fulfill this role.
Another update that we consider a killer feature is custom farming pools. Any person or project will be able to come to our website, connect a Metamask wallet, get the maximum farming level (this is when a user has a total of $10,000 or more in NMX liquidity pools), and add their own farming pool. Right now, you can add any pools with any token, but this pool will not be visible on our website (you can only interact through a smart contract). And now we will allow the user or project to organize the farming of their token on our site in a few clicks. He will be able to create a liquidity pool with his token. What will we achieve in this way? Firstly, a huge number of projects will have the opportunity to start a farming pool on a reputable platform without any difficulties and fees. Nomiswap is already a reputable platform. We are in the top 5 in terms of liquidity among all DEXes on BSC. We are in the top 50 in terms of the trading volume. Today (06/30/22) we were in 32nd place among all DEX among all blockchains.
Our solution will allow any project to organize a farming pool based on Nomiswap in a few minutes. What will it give us? To launch the project, we need to get the maximum farming level, which affects the utility of our token. To get this level, you need to buy our token. Secondly, the project will tell its community “go farm for our pool on Nomiswap”, these people will come and see Nomiswap, and they will know about it. Many people don't know about our DEX yet. They will see that we have other pools where you can farm and stake, and there is also an interesting NMX token. By doing so, we will increase our user base.
We are going to launch simple farming for all couples on Nomiswap. Now many people stay on a simple farm based on Nominex, because it is simple and you can start in a few clicks. If you are ready to accept that your funds are currently not on your Metamask wallet, but are managed by Nominex, then this is an ideal option. We want to implement simple farming for most of the protocols that exist in this market. We will make sure that the utility of our token or its farming is there, and according to our estimates, this can grow into a separate large product. It will serve as an entry point into the world of DeFi farming and staking for a large number of people who are not yet very skilled in this market. But it will be good even for the pros, because. there will be certain automation, it increases the benefits. It will be possible to quickly do some things or track the change in APR in different places. It's hard to do it manually.
These are our plans for the future. We will try to release boosting pools and custom pools in the next couple of months. Boosting pools will be done as quickly as possible to reduce the number of free tokens on the market.
What are the goals of the project for the next 6 months?
I want to outline quantitative goals and tell you what we are doing now, and why we are doing it. We are now in the top 5 in terms of the amount of liquidity among all DEX on the BSC. We believe that the announced functionality that we want to implement can be in demand in a falling market. We have set ourselves the goal that by the end of this calendar year we will be number 2 in terms of liquidity among all DEX on BSC and we will try to reach the TOP 10 in terms of trading volume among all DEX on all blockchains.
We have all the resources for this, a strong team that has worked together for 4.5 years. During this time, the backbone of the team has not changed. We know how to work and understand what we want to do, and we will succeed. We have a margin of safety in finance. There is every chance to achieve the goal before the end of the year, and we are definitely not going to leave this market. You can't even talk about the scam. Someone famous said that most exchanges will not survive this bear market. It is not clear why, the reasons may be different, for example – income is not enough to cover expenses. Everything is stable here, and there is a margin of safety.
I would like to thank our community that cares about the product and what we do, especially those who think optimistically. If we are here, then we are not in another project/coin. People invested in our project, I think there were reasons for this. I want to say thank you to those who remain true to our idea and who believe that we will succeed. In fact, the community is built on these people, keeps and develops.
Questions and answers:
- Hello, Pavel! First of all, I want to thank you for such a great project that saves us in a crisis. I have two questions. First, regarding boosting and auto-reinvestment, how will it work?
We will definitely do boosting at launchpools. In fact, boosting will mean that those people who entered staking through boosting will be guaranteed to receive some percentage more than those who are not in boosting. Delta will be saved. We are now thinking about introducing boosting to farming pools so that users who farm in liquidity pools can also receive additional income if they deposit funds for a long time. We need to weigh all the technical nuances, discuss and decide. But the fact that we will do boosting at launchpools is for sure.
- Will we lock in the same pool, where there is a holder bonus, or there will be a new pool, where we will need to withdraw from the current staking and transfer to a new sub-boosting?
Good question, yes we do have a holder bonus which has a positive impact on liquidity stability. But on the other hand, the holder bonus in many of our other developments imposes new additional restrictions on the fact that we need to either neglect the holder bonus, or we need to do additional development so that people can do something in our new functionality without losing the holder bonus. We will try to make it happen without losing the holder bonus. Perhaps this will not be in the first version right away. Holder bonus support imposes additional lengthy development. Thanks for the question.
- Greetings, Pavel! My name is Dmitry. I wanted to ask about burning tokens, would that help?
This is a common question. People say it's very simple – you just need to burn it, and the price will rise. But it is not so simple. We can burn 5 million tokens right now. But this will not have any effect on the price. The price of a token is affected by the purchase of a token from the market, if we would buy and burn these 5 million tokens, then yes, this would increase the price for sure, but that's another story. Also, people say “Let's introduce various lotteries and mechanics, with the participation of which people will burn tokens.” Many DEXes do this, but I assure you that the share of tokens burned when participating in such things is negligible compared to the number of tokens issued. A person who has earned X number of tokens on farming and turned out to be in profit is unlikely to go and lose these funds in the lottery. When a person loses, only then is burning provided. In theory, it sounds nice and correct, but in reality, all this has a negligible impact on the stability of the token.
The nature of farming involves the constant emission of new tokens, with a certain number of significant tokens issued every day. The more favorable the farming conditions, the more tokens are issued. On the one hand, we say "Come farm and you will earn a lot of tokens." But on the other hand, we want to burn more, we want to essentially take your tokens from you. These 2 concepts don't go well with each other. As in any state, central banks print money all the time to keep the economy spinning and spinning. What is money printing? This is when a person comes to the bank, deposits money at interest, and receives this interest, and another person comes and takes a loan. It all exists thanks to the key rate of the central bank. The key rate is a measure of how much money it prints, essentially speaking. If you take bitcoin, for example, which has a limited supply and everyone expects that in 100 years it will stop being mined, it is not suitable by its nature as a government coin. In this case, holding bitcoin will be more profitable than starting businesses, going to work, and earning this money. What happens? Depreciation of money by states - when they print money, they devalue it. This just pushes people to earn money and build some businesses where the profitability will be higher than inflation. As bad as it sounds, we have the same model. There are no secrets here. We constantly make some kind of emission, this is farming. People come to farm to provide liquidity to our pools and get rewarded for it.
You need to understand that our token has some kind of inflation, and this is normal. Because there is a margin of profitability when a token or farming can already be unprofitable, not profitable. Accordingly, in these difficult times, when the market is falling, it would probably be safest to invest your money in real estate, at least it often happens that in a crisis, real estate can be a safe haven. The dollar is depreciating, inflation is crazy, and just keeping money in rubles, dollars or euros is also a guaranteed loss of this money. So this is a very difficult question. But the mechanics are like that, and therefore all incinerations are a tick to calm down.
These are my theoretical guesses about the fact that this will hardly have any positive effect. Boosting pools will really have an impact, where people will freeze their funds for a long time, and of course, the development of functionality. This is an analog of GDP, that is, the more useful our product is for users, the greater the natural demand for this token. Here's what we do every day.
I answered for quite a long time and touched on various topics, but I hope that some of my knowledge and thoughts will be useful and will give more understanding to people who did not really understand how some things work.
- Will there be any other pools with coins? Will other stakings also be added or will only one NMX remain?
We recently added a lot of new pools where people farm our NMX token. In fact, what we did: we said "Guys, if you have any coins in your hands, then you can put them in the liquidity pool and earn NMX." Thus, we increase the liquidity of these coins. That is, we increase liquidity by motivating our users to either keep these coins in their hands, not to sell, or to buy. Thus, we do well for these projects, plus we do it so that we have liquidity for some demanded pairs where people can trade. Do not forget that we are first and foremost a DEX, and we should be the platform where traders trade, and it is profitable for traders to trade when there is something to trade. When we launched these pools, so we said, "Guys, we have something to trade, trade with us."
There is a nuance here: not every pool is effective in terms of the ratio of liquidity that we have attracted and the trading volume that this pool generates. On the one hand, we distribute NMX tokens for liquidity providers, and on the other hand, we earn on trading commissions. There are pools where the return of these commissions is significantly lower than the dollar equivalent in which we distribute tokens for farming. It is difficult to predict and predict in advance how effective a pool will be, so from the list that we launched, we see that some pools turned out to be effective in terms of the ratio of liquidity to trading volume, and some are less effective. We will turn off some pools, reduce profitability, or replace them with others.
In the near future, most likely we will not add new pools but will concentrate on the development of the current ones. That is, we will achieve the maximum efficiency of the pools that we currently have.
- Hello Pavel, I have two questions: one is a short clarification, and the other is more global. Clarification on boosting - will the block apply directly to staking? Roughly speaking, the reward will be spent on the very amount with which a person entered the staking, an analog of the monthly capitalization of interest in the bank? Will it be possible to supplement blocked staking? And the second question is more global. Why can't our team go to the bigger exchanges with the listing of the coin, thereby attracting people, and increasing the demand for NMX? Of course, at the same time, APR will fall due to an increase in the number of people, but it seems to me that this will be compensated by the NMX rate.
Boosting implementation: during the time that you have chosen to freeze funds, what you have farmed, you will not be able to take away, this is the essence of increased profitability. That is, you will receive increased profitability after some time. But at the same time, we will retain the ability to withdraw funds, just some kind of commission will be withheld there.
Regarding listing on exchanges, you just said that if we list on some exchanges, this will automatically lead to an increase in the number of people who need our token. But the truth is that our token is needed by those who use our product. That is, when we list the token on some exchange, the person who sees the token on this exchange will not automatically need to use our platform, he will not need to farm, etc. The fact that after listing a certain number of people, traders will want to speculate on our token is a fact, but whether they want to do it in a bear market is far from reality. Entering some assets in a falling market is not so nice. Now, on the contrary, many are trying to enter either stable coins or some other coins that they are sure of. In a bull market, this story naturally works much better, that is, indeed, after the listing, some traders will start trading this token. But here you need to understand that trading means buying and selling, that is, it is not worth counting on the fact that the listing will automatically bring holders to us in the long term. Speculators, see a new asset, and usually, after the listing, the price rises quickly. This means that we need to earn, and then quickly sell before the tokens start to fall. This works on all listings, so after listing, any coin of the listing has rapid growth, and then the same rapid fall.
Will we list coins on these exchanges? We will. Probably, you should not do this in a bear market. You also need to understand that listing is not enough, this will not automatically give a trading volume. The conditions for listing on the exchanges are, among other things, that the project team has provided liquidity so that the order book is filled with buy and sell orders. We have to do this with reference to our liquidity pools on the DEX, on smart contracts. We have developments in this direction.
When a person buys an NMX token on some exchange, this means that at the same moment our algorithm will buy the same number of tokens in the liquidity pool. And when a person sells on some exchange, at the same moment, if he sells to us, this is an important moment: if these people do not already trade with each other, then at that moment we sell the same token in liquidity pools. That is, it turns out such an interesting story: until people begin to actively trade among themselves, this means that there really should be a large number of people on the exchange who are interested in trading this token. While they will trade conditionally with our liquidity, in fact, this will not mean an increase in overall liquidity, it will simply mean that we will have a gateway for trading on our pools, just to some other exchange.
In my answer, I tried to reveal the principles of efficiency or inefficiency of listing on the stock exchange. It is not always effective, listing on the exchange is effective for popular products, and as a rule, such exchange products are listed on their own without any initiative from these projects themselves. And exchanges, really, why are they flipping? Why are they interested in listing? Exchanges are interested in the fact that when they list a token, you will tell your community about it, and it will go and trade on this exchange. Thus, they will increase the volume of trading on this exchange. And the project, accordingly, wants to list its tokens on the exchange, so that traders from this platform start buying these tokens and trading them. The truth is that for both counterparties in this situation there will be a benefit when the product is so solid and confident in the market and popular that the exchanges will list this product themselves. Will we make an effort to get ourselves listed? Yes, because we need to start this process, this is also the process of growing our product. Listed on several exchanges – it is necessary, among other things.
- I wanted to thank you for making such a cool platform. I've been here for over a year now. I saw prices for NMX both 4 and 5 dollars, in principle, I like everything. I want to ask a question about the development, regarding the boost. In general, maybe it makes sense to make it in the form of an NFT so that if a person sells/resells, make some kind of commission so that the platform leaves, for example? And I also wanted to ask if it is planned that if people are holders for a long time, do some things like a vote on adding something so that there is more involvement? Thank you.
Let's start with NFTs. NFT is the kind of thing that a lot of people are trying to put in every place they can put it. It's similar to what happened in 2017 with ICOs when people were doing ICOs and wanted to use blockchain wherever they could and couldn't. Now with NFTs and meta-universes the same story. You need to understand that in the case of launching boosting pools, we have a very specific goal: to withdraw NMX tokens from emission for some time. If the NFT allows it to be done more efficiently and in some better way, then it is worth doing (based on the NFT). If the NFT will not allow this in any way but will be for show, then there is no point in doing it. It is better to do simple things that everyone understands that work than to do the same thing in another way that was chosen unreasonably. This is where research needs to be done. Our technical team did this research before proposing the boosting pool model we currently have in development. They were probably considering NFTs. I will ask this question to my team, maybe, based on NFT, it can be done more elegantly, and correctly, and the efficiency of this will be higher.
On the second question: this story is called governance. This is when token holders can vote for something and put forward some proposals for discussion and voting. Our product has not yet matured to the point where this governance is necessary. First, our product is not infrastructural. Governance is very reasonably applied there, because, indeed, there are things for which the community should vote. And this is precisely the fundamental component of decentralization. Blockchain, on the other hand, claims to be decentralized, and governance voting fits this concept very well. We have a commercial product. We invest our money, we develop it, we have a certain model that we work on, and we have a certain vision of the way this product should go. At the same time, of course, we do it in such a way that it would be good for everyone to use our product. This is our interest, if we work only in our own interests and do not take into account the interests of either traders or farmers, then this category of users will simply fall off with us, and this direction will stop working.
All these democratic stories work well in infrastructure projects, in states. But in commercial projects, they don't work so well. Because the project loses flexibility and speed. Conventionally, having a meeting of 4 people in the evening, we can make some decisions that will be of great importance in a positive way for a huge number of our users. We can make this decision very quickly, and this is our strength. If we make this decision in a vote that will last for weeks, then we, firstly, will not be able to make decisions quickly. Secondly, there is another factor: the people who will vote will vote in their own interests. The category of farmers will vote only for their own benefit, the benefit of farming. We saw dissatisfaction when we launched a large number of pools. Why? Because it’s good for people that they have farming now, and the fact that some kind of additional competition has appeared there, that an additional number of tokens will be issued, they didn’t really like it. But they didn't see the whole picture. They did not see that only 10% of the tokens fell into these pools. People, when they vote, often do not have a complete picture of everything that is happening.
And since we are a commercial project, some things are classified as "secret". We have to compete with other similar companies. And in order to compete, we must have some secrets. If we hold a vote, we will have to voice all these secrets, we will have to become completely transparent, and any of our actions will have to be explained by some kind of motivation and some kind of arguments. All this will be seen by competitors and the entire market in general. Much more important for us and for our users is to have a positive end result. And what ways we will come to this and how we will do it - this is not so important.
- Good afternoon, we have a heated discussion in our team about the distribution of all 200 million tokens. As we understand, 82.5 million on farming, some part on the marketing pool, but still I would like to understand the whole distribution structure of all tokens. This is the first. And secondly, we would like to understand how to track how many tokens are being sold by Nominex owners themselves. I think if we get answers to these questions, then our team will calm down. I would just like to understand how much is currently in different pools or on different wallets. Thank you.
Regarding the distribution of tokens, where how much goes, we have written in the White paper. We will update it soon, but in general, the structure that is there is valid. In fact, only a pool for paying cashbacks for trading commissions will be added there. This white paper was written for one NMX-USDT liquidity pool before we had DEX yet, and it was powered by Pancakeswap. Accordingly, the emission is indicated significantly less than we have now. That is, with a significant increase in the number of liquidity pools, we increased the issue. Now, this emission comes from the marketing pool. In the near future - I expect that next week - we will change and update the White paper. And there it will be clearly, understandably, and transparently written how many tokens are being distributed. And the share of distribution to various pools, for example, how much goes to the team, how much goes to team farming, and how much goes to cashback, it is now 99% close to what it actually is now. Only there is no cashback now. But cashback takes up 5% of the total distribution of all tokens, that is, this is an insignificant amount. And everything else is correct now.
The White paper will display how many tokens per second or per day are distributed at the current time. Since more tokens are distributed per day than in the previous version of the White paper.
To the question about whether it would be nice to see how many tokens developers are selling, I will answer this way: there is an issue with tokens. It has a distribution according to the purpose of these tokens, that is, how many tokens go to farming through smart contracts, how much goes to the holder’s bonus, and how much goes to the team. We, as a team, cannot sell more tokens than we are allotted. That is, we can sell the maximum, how much is allotted, or less. We sell these tokens, however, we try to do it in such a way that it is during periods of growth and do it in such a way that it does not significantly affect the course.
Our budget, through which we continue to work, pay people a salary, pay for advertising, consists of trading commissions, which at the moment are not enough to cover all expenses. And from the sale of tokens. We sell as much as we need to cover expenses with a small margin, which just allows us to say that we have a margin of safety. Revealing and making it completely transparent somewhere on the site means spreading hate. Because at any moment, any person can see and think, “Here, I just bought here, and they are selling.” Or “Yeah, the situation, in my opinion, is not very favorable now. I would not want them to sell tokens, but they do.” This is just one of those components that should not be public. What should be public is that there is a share of tokens that is allocated to our team, and it is distributed to us every day. We have a distribution schedule, the so-called vesting. This is the vesting that our tokens are falling to us every day and this amount is 20% of the total emission of tokens. The question was interesting and correct, I understand why this question interests you. Because people may have a doubt “But aren’t the developers bringing down the course?” And so on. But I tried to answer this question as openly as possible.
- Pavel, hello. I have two questions. First: the guys in the chat write about launchpads. When will we participate in launchpads? And the second question: will we have P2P trading? If yes, when, and if not, why? Thank you.
Launchpads. This is when, on the basis of our platform, we conduct some kind of token sales of other projects. And people who have our tokens or farming level in their hands receive some kind of allocation, the opportunity to buy this token. I think the launchpad market itself is very risky. Why? Because a project comes with a beautiful wrapper, proper marketing and good economics, all so transparent and promising. But at the same time, we do not know what this project may have in mind. And I consider it a big risk if we advertise projects on our platform and recommend our community to buy these tokens. I see this as a very big reputational risk for us and, probably, you will need to participate in launchpads somewhere else. This is the main reason why we do not plan to introduce launchpads in the near future.
We do not foresee the development of P2P trading functionality. This is a separate, large product. And at the same time, he works in the risk zone. I have friends who have a P2P platform. There is a lot of dirt, litigation, and some contacts with law enforcement agencies, because through P2P, through various figureheads, or through stolen money, a lot of all sorts of dirty, bad things are carried out. To be honest, I don't want to deal with this at the moment. We could do it, but, as I said, this is a separate big product for which you need to allocate a separate team and separate budgets. This is a separate business. And then it will be defocusing for us. Still, I do not believe that you can successfully do several projects in parallel. We're not big enough yet to freely pick up and run a parallel team that works completely in isolation and builds a new product. And secondly, there is scam that exists in this area, and we guarantee that we will encounter it, and we don’t want this. I would like to stay in the crypto zone for the time being. That is, we still do not have fiat even on Nominex. That is, it is impossible to replenish through us in rubles, dollars or something else. Do you have USDT, please start, and then withdraw some crypto in the same way. In general, we are currently focused on crypto, on DeFi, and we believe that this has a great future. We do not want to deal with fiat yet.
-Good afternoon. Your forecast for the NMX price by the end of the year.
There is no forecast. I can't predict for two reasons. One of them is the most significant. This is that any of my forecasts will be perceived as some kind of promise, as a financial recommendation, let's say so. I am a responsible person, and I cannot and will never do this. And secondly, this is a really thankless task from such a category as “Where is the bottom of bitcoin?”, “And when will it go up?”. In fact, everyone who makes forecasts is pointing a finger at the sky. True, in our case, it is easier to make forecasts, given that the development of our product depends on our actions. And the development of the product depends on how much this product will be in demand, how utilitarian the token will be and, as a result, what will be the demand for this token. But again, I shared these plans today. What do we want to implement, why do we want to implement it, how do we plan to increase utility due to this. The information is open, I gave all the information today, exhaustive. Further, you simply do not need to listen to me or anyone else, but simply look at this information, analyze and make some kind of forecast for yourself and make a decision based on this. Worth doing some business with Nominex/Nomiswap or not. If so, how to do it. I hope I did not disappoint with such an answer, but my answer has always been and will be like that.
Thank you all very much and see you next time!