Band & MathWallet AMA recap
06/25/2020
Host Darshan : Hello Community!
We have MathWallet team with us for the AMA.
We are excited to be joined by @hoonman7 @Meri_003 & Band CEO @soravis for today’s AMA. Who’ll be answering your questions, doubts about this recent partnership of BAND x Math Wallet!
Before starting with the AMA, I’ll let our guests to introduce themselves, their background and how Math Wallet got started!
Kindly give us your short introduction about yourself and Math Wallet so our community will get to know about Math Wallet.
Mike : Sure, Hi everyone, my name is Mike Chi and I am in charge of “globalizing “Math Wallet product.
Math Wallet is a highly secured easy to use wallet with variety of features in it.
Our wallet types include APP, web, extension and hardware wallet, covering cold, hot, custody and other forms of wallet.
Our recent focus has been on Clould Wallet for non-expert users and Staking for those who want to hold crypto assets and also make interests at the same time.
Frank : This is Frank，I was CEO for Huobi US prior to this project. I am also investor at Fenbushi Capital. BTW I started my career in semiconductor and mobile Internet software.
Yaxin: Hello everyone, this is Yaxin who is in charge of global expansion for MathWallet, I worked in Private Equity and international non-profit field prior to MathWallet, now i’m building partnership and make marketing campaign with solid projects across countries.
Q2: What are the major milestones that Math Wallet has achieved so far?
Mike : MathWallet was founded at 2017 and its token MATH describes itself as a one-stop crypto solution platform that comprises MathWallet, MATH VPOS Pool, MathDEX, MATH dApp Store, MATH Staking, MATH Pay, and MATH Chain. Math Wallet is a multi-platform (mobile/desktop/hardware) universal crypto wallet that enables the storage of various cryptoassets, which also supports cross-chain token exchange, and a multi-chain dApp store. MATH has been listed on BitMart/HBTC/Uniswap
Other than the fact BAND users could safely store their coins using our wallet, it alos paves the way to borader collaboration.
Q3 : What will the Math Wallet integration enable for the $BAND community?
Yaxin : Through MathWallet, users from Band Community could make following operation：
● Create BandChain wallet in the web wallet, allowing you to store, receive, transfer and stake BAND token easily in a “one stop shop” experience
● Monitor your portfolio and track staking rewards from anywhere without leaving the wallet
● Secure your assets with Private Keys, Mnemonic Phrases, 2-Factor Authentication and more
● Leverage MATH Swap, an instant and secure token exchange built-in the wallet
Q4 : How is Math Wallet different from other cryptoasset wallets?
Mike : Our wallet types include APP, web, extension and hardware wallet, covering cold, hot, custody and other forms of wallet which covers from non-expert to high level expert users.
In addition, we also extended further on this basis, such as Math ID, Dapp Store, VPOS, etc. Especially for VPoS feature, users could make average 8–20% up to 35% annualized return from the investment, we hope to promote our VPoS product to more users, make people know how a blockchain wallet could give high profit return for the crypto investment.
Frank : Math Wallet is invested by Asia‘s largest leading crypto investment firm Fenbushi Capital. And Chinese state owned enterprise such as JianYuan also invested in the company
Mike : We recently launched another type of financial product called “Shark Fin”. This is a limited time Staking offer and it was very successful!
Q5. How can people use MathWallet？
Mike : We have 2 modes ‘Cloud Mode’ and ‘Decentralized Mode’ based on your preferences.
- For ‘Cloud Mode’, you can easily start to use the wallet without understanding lots of blockchain terminology. Our Cloud Wallet has easy-to-use, secure features and enables users to stake a token into their VPoS mining pool with interest rates of up to 35% and double rewards with staked token and MATH.
- For ‘Decentralized Mode’, the biggest difference between us and other wallets is that we support more public chains.Currently, 40 public chains and DAPP ecosystem are supported, including BTC, ETH, EOS, TRON, Cosmos, Coinston chain, ONT, Polkadot Substrate, NEO, IRISnet, ChianX, EOSC, ENU, BOS, Telos, NAS, ESN, Kusama, Edgeware, Harmony, Ethereum Classic, TomoChain, Fibos, Worbli, Hashgard, etc.
Q6 : Why should the Band Protocol community choose Math Wallet as their go-to-wallet?
Mike : Right, we support almost all major coins/public chains.
We MathWallet aims to become the best wallet in the blockchain space:
1）MathWallet launched 3 years ago and there have been no security issues so far and provide service to around 1 million users all over the world.
2）MathWallet has great background，is invested by Fenbushi Capital which is founded by ShenBo who is the co-founder of BitShares and Vitalik who is the founder of Ethereum. I would put a high emphasis on “SECURITY” part though.
Frank : BTW we are participating in central bank’s blockchain standard and protocols with central bank in China.
Q7 : In light of recent events, what are both your current outlooks on the future of the blockchain space? (Relative to oracle security and application security)
Soravis : I think we start to see real adoption of decentralized, permissionless solution especially what we observe in decentralized finance. But we are still very very early, less than 0.1% have interacted with the blockchain space.
I have high hope though, a lot more innovations are coming, better security through better oracle solution that helps to secure these defi and other smart contracts.
And with better security over time we will help drive better adoption of these smart contracts and decentralized finance.
Q8:Why did Math Wallet choose to strategically support Band Protocol’s oracle solution?
Mike : Decision to work with BAND team was a no brainer.
Band Protocol is one of the most technically focused teams we have come across in the blockchain space. This is evident in their approach to BandChain which has been fast tracked by several months and also in working closely with their team to enable staking on the BandChain Phase 0 Mainnet.
As a project created to bring mass adoption of blockchain technology through scalability and security, we are confident that Band Protocol will become a key player in the oracle space due to their unique and key offerings including faster contract invocation, reasonable handling fees, easier integration, scalability and flexibility for developers plus layer 1 blockchain networks.
Q9 : How can Math Wallet help Band Protocol expand usage among other decentralized applications and drive the adoption of secure oracles?
Yaxin : The uniqueness from MathWallet comes from our positioning of “blockchain application entrance”, About this goal :
- MathWallet connects to most public chains, so the user does not need to switch wallet for each public chain;
- MathWallet has completed the coverage on multiple platforms. In addition to the APP, it also supports the extension wallet, web wallet, hardware wallet and cloud wallet;
- MathWallet has been committed to the build up developer community and provides developer tools. We now have a community of nearly 2,000 developers. 4. From the very beginning, we have targeted global users. We not only support more than 20 languages, but also build local online communities around the world. We have total number of 1w telegram. This could help our partner like Band to grow fast and have strong presence into MathWallet community.
Q10 : Could you explain MATH VPoS and how does it earn profit from tokens that are not PoS?
Yaxin : VPoS refers to virtual proof of staking, is a new kind of mining pool that rewards you with both mining reward and MATH tokens. For PoS tokens, we will help to do the staking. For non-PoS token, we partner with Amber who is one of the biggest Crypto Trading Firm invested by Coinbase, Polychain And Paradigm and get profit through quantitative trading.
Darshan : Amazing, I’m now opening the chat for Community’s Questions.
Q1 : How will MATH Wallet team target and educate people who don’t know about blockchain and crypto?
Mike : That is why we launched our Clould Wallet. It is an easy to use wallet solution which does not require much training.
Yaxin : We have easy-to-use features from our UI design，also check our blog/medium for step-by-step tutorial, it is comprehensive
Q2 : How many type of platforms do you support and still ensure security, privacy?
Yaxin : Four-App/entension/web/harware
Q3: I am a Band holder so what is the advantage of staking the Band on MATH? and is staking easy to handle?
Mike : Very easy and intuitive. Once you download Math Wallet, you can eaisly start staking with us.
Q4 : Security are the most important thing in crypto. Why people should feel safe with MATH Wallet?
Yaxin : First of all, on the technical level, MathWallet has introduced a variety of security mechanisms, including biometric technologies such as face recognition and fingerprint recognition. If the user creates a cloud wallet, MathWallet will also conduct live detection in large transfers. Secondly, on the design level, MathWallet values greatly importance of interaction design. We will guide users to operate more safely in many details, such as our white list and blacklist mechanism, which trigger a pop-up screen when users transfer money to the suspicious address. Third, MathWallet pioneered a wallet security guarantee contract product. Users who join the contract can get risk compensation in case of security risks such as wallet theft. Fourth, MathWallet and the security team Baimaohui had security strategic cooperation to further consolidate and enhance security level of the wallet.
Mike : It has to do with our previous record. Doesn’t matter what you say unless your action proves what you said. Since the launch we haven’t had a single security related problem and we are working to keep things that way.
Q5: Which specific about technology and strategy of #MATH that make you believe it will be successful and what does #MATH plan do to attract more users in the upcoming time?
Frank : it’s the team that makes it successful. Many projects are scam and raise money then disappear. Math didnt use ICO or IEO，it raised money from traditional venture investors and has been working diligently for the past several years.
Mike : Thank you for great questions. In our efforts to provide easier access, we have made the overall user experiences for using crypto wallets easier by providing Cloud Wallets. Also, with our innovative Staking Service callsed VPoS, we are motiving more people to work with us for financial freedom.
Q6 : How do you think with Asia market? Does MATH WALLET team have any plan approach VietNam which the potential market in crypto, there have many great teams and investors want work and earn money from crypto?
Yaxin : We already started reaching VN market，please check out our social media.
Mike : Vietnam is one of the core markets we have our eyes on along with Korea. We have in talks with potential partners in Vietnam to increase our reach in the country.
Q7: There are so many other Blockchain wallets. What should I pay attention in MATH Wallet to give it the importance it deserves? What are your planning to achieve with your wallet?
Frank : it‘s the trust. as crypto users，we dont want to lose our assets to some scam projects that run away and disappear with our money.
Q8 : Can we use ledger alongside your wallet to safely stake to the project of our choice?
Yaxin : Yes the Ledger integration is in process and will deliver soon.
Q9 : As a person who is less involved in trading and investing only to hold over time, does MATH have anything special that makes me move my assets to MATH wallet?
Mike : Not sure which assets you have, but since we support all major tokens chances are you don’t have to swith between different wallets. Also, please check all these different features we provide. We pretty much proivde one-stop service for all your needs. https://mathwallet.org/en-us/ https://mathwallet.org/vpos/#/
Q10 : We all talk about Positive points/Pros/Good Points & Features of any Project, no one Project tell about there Cons. So can you tell us Honestly the Cons & Lacks of MATH Wallet?
Frank : the area for improvement is user experience. The product is designed for savvy crypto user and early adopters. We will simplify the process and experience for regular internet users when the market scales bigger
Q11 : What are your plans to educate and raise awareness and adoption among the community to make more people understand MATH and its technology?
Yaxin : At present, wallet should be the most recognized entrance to the blockchain ecosystem. Many projects start from the blockchain wallet to access, understand and participate in the construction of this ecosystem, and get through the whole process. We strive to become the leading blockchain wallet by innovation, as a bridge between public chains and users we frequently improve our product by the market needs and customer feedback, in next three month we will continue to expand into SEA market and maintain the existing market by active marketing campaign.
Q12 : What are your major partners recently? Can some information be mentioned to users we know?
Frank : Chinese central bank is the recent partner
Yaxin : Also we are selected as Polkadot china ambassador recently to help develop more for more projects in the ecosystem.
Q13: How is the central bank a partner?Can you elaborate on this relationship?
Frank : we help the central bank and local governments to establish blockchain based system for safe keeping of records and payment information including receipts that you see in the restaurants, there is strong tax implication for businesses，the governments want to make sure theycollect all taxes using DCEP
Darshan : Thanks for the great AMA @Meri_003, @frankkfu & @hoonman7. There’s still a lot to know about Math Wallet. Feel free to share all links of your Socials so that our community members can follow you 😃
Telegram:https://t.me/mathwallet
Blog：http://blog.mathwallet.org/
Twitter：@MathWallet
Korean Medium：https://medium.com/@mathwalletkorea
Thank you everyone!
