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IX Swap hosted its monthly Ask Me Anything (AMA) session, where founders Julian and Aaron discussed the latest developments and answered community questions. Here's a summary of the key points covered in the session:
Platform Updates:
IX Swap has been actively working on ironing out bugs on the launchpad.
The platform successfully launched its first deal, tokenizing secondary shares of a health tech startup that is pre-IPO.
Notably, IX Swap delivered on its promise of making security tokens and equity investments in startups accessible to all investors, with a minimum investment of just $1 USD.
Market Challenges:
The fundraising environment for startups has been challenging, with the past year being one of the worst in a decade. However, sentiment is expected to improve.
The crypto market has been closely monitored, and it's believed that it may be reaching its bottom, with potential for growth.
Exchange Partnerships:
IX Swap has been in discussions with various centralized exchanges to establish new partnerships, following issues with KuCoin.
The immediate goal is to secure another exchange partner, with plans to consider listing on more exchanges in the near future.
Coinbase and Tokenization:
IX Swap has received validation for its tokenization efforts from industry leaders like Coinbase. Coinbase's CEO highlighted the importance of capital formation through blockchain and tokenization of real-world assets.
The ultimate goal is to get listed on a couple of tier-one exchanges, with Coinbase being one of the investors in the project.
Community Participation:
The founders encouraged the community to start building portfolios of security token offerings (STOs) on the platform, as these investments are accessible even with minimal funds.
Building a portfolio of STOs allows investors to gain experience in this new asset class and participate in the growth of the platform.
Future Plans:
IX Swap plans to continue launching STOs and gradually increase the number of deals as the platform gains traction.
There's an emphasis on building a strong track record with various asset classes before considering launching an STO for IX Swap itself.
The team is also considering partnerships with ICO platforms to facilitate a clear separation between STOs and ICOs.
Tokenomics and Value Growth:
IX Swap tokenomics are designed to benefit from the platform's growth. As more deals and investments happen on the platform, more IXS tokens are bought back and burned, reducing supply.
The value of each IXS token is expected to rise naturally as the platform's revenues increase.
In summary, IX Swap remains committed to its mission of democratizing access to equity investments and security tokens. While facing challenges in the current market environment, the platform continues to develop and expand its offerings, with a strong focus on community involvement and the future growth of the IXS token value.