Answering the questions recently raised in NKN community

#1

Recently we’ve seen a rise of people in our social channels, mainly telegram, expressing their opinions about either lack of exchanges, marketing, utility of nkn token right after mainnet.

Bruce, Co-Founder and Co-CEO of NKN came to address the issues and questions asked.

What have been talked about?

  • Opinion about the market, exchanges, liquidity, paying listing fees,
  • marketing the project for mainnet, performance, partnerships,
  • real utility of the network coming to NKN in coming months before mainnet.

We bring you the key points here:
(for full conversation see this telegram link https://t.me/nknorg/246495)

PS: You can ask the team anytime on telegram, discord, twitter, reddit, forum, bitcointalk or email us at [email protected]. The team is usually available on Discord or telegram to answer your questions.

Bruce Li | NKN, [05.04.19 17:53]
Every now and then I see a flare of why XXX token is not doing 10x today, when the market is in a lull.

Bruce Li | NKN, [05.04.19 17:54]
I guess several long time members are genuinely expressing their views. although some anonymous new accounts are very eager to fan the flame.

Bruce Li | NKN, [05.04.19 17:54]
I do not want to speculate on price, as I never do. And any responsible project will not discuss price.

Bruce Li | NKN, [05.04.19 17:55]
But it is important to set a few facts correct: NKN does have its all time low during 2H of 2018, due to many factors, including the general market, bad luck and team’s missteps.

Bruce Li | NKN, [05.04.19 17:56]
That’s why we re-evaluated our strategy and turned the course during Nov/Dec’2018. And I don’t want to re-iterate what we did, but the facts are all there if you care to do a bit data based comparison of NKN against the CMC top 100, either in terms of fiat or ETH/BTC.

Bruce Li | NKN, [05.04.19 17:57]
We always believed and will continue to work hard on all three fronts:

  1. Tech and product
  2. Marketing and PR
  3. Exchanges and liquidity

Bruce Li | NKN, [05.04.19 17:57]
We believe they are equally important, and all requires substantial work and resource (including budget)

Bruce Li | NKN, [05.04.19 17:59]
What is NOT true that has been circulating in this forum:

  1. NKN do not want to pay for listing other than Binance
  2. NKN do not want to do marketing for xxx (mainnet, performance, partnership)

Bruce Li | NKN, [05.04.19 18:01]
BTI and Bitwise exchange ranking are aiming at transparency, not gospel. You don’t have to believe in it. But in general it is a good yardstick to measure which exchanges will provide the best REAL liquidity and investor protection for NKN.

Bruce Li | NKN, [05.04.19 18:02]
We have experimented with smaller exchanges, and the results are not very encouraging. In the end, we bring more customers to them than the other way around. If that smaller exchange engage in 98% wash trading or other business, then it can only produce a small Pump’n Dump that will make a few people happy while 10x more people unhappy.

Bruce Li | NKN, [05.04.19 18:03]
We are not religious, and will work on all the main exchanges in the top list whenever our project status meets their criteria. We are not limiting ourselves.

Bruce Li | NKN, [05.04.19 18:03]
And yes, we will pay listing fee.

Tanner [05.04.19 18:06]
It’s concerning that two months before mainnet there is still no exchange for Americans to buy with good volume - and most interest from NKN (at least if mining is anything to go by) comes from US

Bruce Li | NKN, [05.04.19 18:09]
Once mainnet is live, it will be much easier for US investors. e.g. Bittrex US can open up.

Mike, [05.04.19 18:10]
[In reply to Bruce Li | NKN]
Bruce, you always word things very elegantly, I myself, prefer natural organic growth, than something which is built on hype, sees parabolic growth, followed by decline, and leaving the team behind to not only deliver on tech, but also to strengthen the community. The team has been fully transparent, honest and met all deliverables. I am and always will be a follower of this project.

The sucess of a project should be based on adoption, ROI, will and always should be a byproduct.

Tanner [05.04.19 18:10]
[In reply to Bruce Li | NKN]
That’s fine, but don’t you guys want the network to launch with as many nodes as possible by mainnet? The run up to mainnet is typically a golden opportunity in crypto to get the word out, but again it kinds just feels like we’re going to quietly whimper on towards it rather than making a big impact

Bruce Li | NKN, [05.04.19 18:11]
And there are so many mainnet launching this year, let’s not pin all our hope on mainnet. If you check all the projects that have launched mainnet, it is usually a small hype up to the launch and then it just nothing. Mainnet launch itself will NOT have big impact.

Bruce Li | NKN, [05.04.19 18:12]
That’s why we are quietly building products on top of mainnet that will be have much more lasting impact. And coincide those products launch with mainnet will be different.

Carlos Matos, [05.04.19 18:13]
thank you bruce, but we still don’t know why we aren’t listed on bibox yet.

Bruce Li | NKN, [05.04.19 18:14]
[In reply to Carlos Matos]
We have not reached a commercial agreement with Bibox yet.

Carlos Matos, [05.04.19 18:15]
[In reply to Bruce Li | NKN]
thank you!

Michael, [05.04.19 18:27]
[In reply to Bruce Li | NKN]
When I say that I am just going off what I’ve seen - in one year NKN has struggled to make any real impact in the market. And although you guys say that paid listings and marketing etc are priority we just haven’t rg seen either yet. And then you guys seem to actively admit that mainnet won’t make much of an impact. It’s that kind of thing that is concerning from the perspective of those holding the coin

Lukas | NKN, [05.04.19 18:29]
[In reply to Michael]

  1. Mainnet doesn’t practically change anything other than the real mainnet token starts existing and people mine real nkn, the tech is already here and can be used RIGHT NOW. Also from historical standpoint mainnets usually don’t come with increased price, that’s a fact.
  2. Bruce said it because we don’t want to go the route of people hyping the announcements and doing announcements of announcements. We say things how they are.

Bruce Li | NKN, [05.04.19 18:35]
Once the mainnet launch, token mining will be 1:1. So if the economic holds, we will have several times more nodes.

But the bigger question is: What is the use of a million node if there is no real traffic on it? This is what many post-mainnet projects are struggling.

If the big hype is all and only about mainnet, then you will be crash and burned even more furiously and call me names afterwards. :joy:

Tanner, [05.04.19 18:36]
My main suggestion to the team remains - don’t focus too much on BTI rankings (apart from binance of course), the top exchange on there is bitfinex and there is basically zero volume there for small cap alts. Bitfinex has high volume because of BTC and BTC margin trading

Bruce Li | NKN, [05.04.19 18:36]
What we should do and working on is kind of Enjin coin type of adoption, that will make real long term impact regardless of mainnet or not

Tanner, [05.04.19 18:37]
Also more big promotional articles would certainly help, we saw the biggest volume and surge we’ve seen in a while after that Wolfram medium post dropped

Bruce Li | NKN, [05.04.19 18:38]
[In reply to Tanner™ | × Antshares Vibes × |]
Definitely agree. When we have something substantial to announce, we should PR the hell out of it!

@GoodGuyMat, [05.04.19 18:38]
[In reply to Bruce Li | NKN]
On top of the fact that most projects are not launching truly decentralized networks. Most control node entry for a long time…

Michael, [05.04.19 18:45]
[In reply to Bruce Li | NKN]
What are things looking like on that front? Do you guys potentially have some working use cases lined up for post mainnet?

Bruce Li | NKN, [05.04.19 18:47]
[In reply to Michael]
Yes, things that are related to networking and NKN can be super good at. We will announce one by one in the next few months leading to mainnet.