General Q&A from Telegram AMA, the F refer to Frank and M refers to Mike in the following anwsers:
- What is MATH?
M: MATH referest to our product MATH Wallet and what we provide through our service.Our Product includes VPoS Pool, MATH Dex, MDS, dAPP and much more.We are one of the leading blockchain wallets with around one million active users.And we support most public chains such as BTC, ETH, EOS, TRON and moreMathWallet investors include Fenbushi Capital, Danhua Capital, FundamentalLabs and other famous blockchain investment institutions.
2. What is MATH mining power?
F: The more you stake BTC / ETH / EOS / USDT-ERC20 to the pool, the higher your MATH mining power will be. And you will get more MATH tokens. MATH Rewards = Staked Token * Mining Power of Staked Token / Total Mining Power * MATH Reward Pool
3. How to get the VPOS rewads?
The reward will be sent to the Math Cloud Wallet everyday.
Cloud Wallet Tutorial: http://blog.mathwallet.org/?p=974 (http://blog.mathwallet.org/?p=974)
Gained and mined MATH token will not be locked up.
4. Please share about the total MATH token, mining model and why the lockup period are 21 days?
M: Total MATH token worth 28.57 million USD, which include: 60% will be released by mining, halving every two years. 30% will be issued to investment institutions, no lock-up requirements. 10% will be distributed to the community through Lockdrop, digital asset insurance, etc.
And the 21 lock-up days
This is related to the liquidity of the asset, the low liquidity comes with high yield, it is not possible to have high liquidity with high yield investment product. Our 21 days are calculated since it is a reasonable time to balance the relationship between liquidity and earnings.
It is usually between 20 to 30 days with other similar services too.
5. How will blockchain technology be used on MATH WALLET? Is its role as a payment system through a decentralized market or as a core feature?
F: Blochchain teck will be used for core feature to keep the system transparent and safe
In addition，it can be used as payment in the future
We believe that Wallet will replace trading company such as Coinbase
We use Wallet multiple times every day，it’s safer，more convenient and user friendly
It can also serve as our personal bank
6. How will you climb the rankings of Math Wallet with so much competition of another wallet? What is the competitive advantage your wallet has that you feel most confident about?
M: It is true that there are so many competitros out there but we believe we are one of the few players in the market that provides one-stop service for all our users’ needs.
Not only MathWallet serves as a wallet, we offer many different services such as dAPP, Staking and SWAP.
Meaning once you have MathWallet, you don’t have to look to other services for your other crypto needs.
At the same time, we support almost all major public chains and we offer staking services for 9 different tokens. I don’t beleive none of the competitors out there do the same as we do.
F: In addition，our philosophy to service our customer and community as number one priority，our commitment to be safe and transparent， our strong funding and partnership with banks and insurance companies，we are interested in making more products and services available to our clients
7. Adoption is very important,how do you plan on getting MATH WALLET adopted by the outside world (people with no blockchain knowledge)?
M: While we can’t force people to use our services or adopt blockchain technologies, we can certainly encourage people by 1) providing more user friendly serves and 2) something that actually helps our users.
F: make it simple and friendly
M: In terms of providing user friendly services, we are also preparing to encourage our users to start using our Cloud Wallet
Which is a lot easier to use than HD wallet in most cases.
For services that actually help users’ daily life is, we have VPoS Pool which gives our users higher return just like a banking service.
And we have plans to offer more financial services such aus payment and lending.
By providing these services that can actually benefit our users, we can gradually increase the adoption.
F: Make the product safe and commit to the community and customer by listening to them，by providing service they are familiar with in the traditional finance world，such as checking、lending、life and emergency insurance
8. Currently the tokens are in a state of unstable prices.with quality products. ect.So what are your challenges and what are your plans to make the MATH WALLET project popular?
F: We need your help，our early adopters
Our product is not perfect，it needs improvement and we already improved some of the user experience such as language support and UIUX
This is the feed back from the previous video AMA
When you like the product，hopefully you can help us to spread the word and recommend it to your friends
We dont plan to do a lot of advertising，because you the community members are the core users
9. Which roles does MATH token play in Math Wallet ecosystem? Will it work as a loyalty point or can be traded/exchanged on you wallet?
F: It can certainly be traded，it serves as loyalty points and future payment tokens
M: One of the ways MATH Token can be used is as a reward for your staking. When you use our VPoS Pool to earn interests for your tokens, we not only give you returns to your tokens you have entrusted with us, we also pay you MATH Token as a reward on a daily basis.
We call this “Doube Engiens”
To take the example of depositing BTC into the mining pool. In addition to earning BTC interest, you can also earn MATH token as rewards.
As Frank mentioned, MATH Token can be traded.
F: We believe in empowering people and community，mining and staking service is a way to establish the binding relationship，think of us as your bank
Fenbushi founder Bo Shen just awarded licence to open a physical bank in Atlanta of Georgia，we will work with him closely to offer more banking services
Those services were offered in the traditional finance industry，but we will make it available to you
10. Does MATH wallet have an ecosystem fund? What is your plan to help / support DApps that want to build on your platform?
We dont have one yet，but that’s excellent idea，we should do that soon，thank you
11. There are 4 core issues prevalent in crypto and blockchain: Excessive Volatility, Security, Scalability and Interoperability. How do MATH WALLET plan to overcome these issues?
Team is always important，with a professional and trustworthy team，we can build good companies and communities，we build a very safe product and we work with large funding partners to mitigate risk of volatility，and we need your help to scale up
12. I’m curious about security system MATH wallet Use, Because We don’t want our Asset got hacked. Security is very important, how do you make sure our asset safe?
We work with some of the best security and privacy companies such as Findora to protect our clients information and their assets
13. I recently heard that you plan to work with Tomo chain — an excellent project of Vietnam, so can you reveal more about this plan?
We will share more about Tomo very soon
14. What do you think is the biggest problem MATH WALLET will solve that no other project is solving now, and why it is the problem important to solve?
We solve the problem of bridging the the traditional and digital finance industry by making commitment on building product people actually want
15. The crypto market has a lot of fiercely competitive . How does MATH wallet plan to attract users to survive and grow?
1, the MathWallet connects to most public chains, so the user does not need to switch wallet for each public chain; 2. 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. 3. MathWallet has been committing 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.
16. MathWallet supports 40+ blockchains, more than most wallets available on the market. What helps you to do that, can you share with us?
We have a lot of industry partnership and we execute fast
17. We’ve seen hacks at several Wallets in the cryptocurrency scene. Hacked and leaked user data. How can Math Wallet handle these attacks?
18. Is MATH really safe to store coins? Is it enough to make users safe, reduce the risk of losing money and personal information?
We provide mutlile secruity features to ensure the safe of your assets. Also, we have never experiences any security breaches and been investing a lot in the overall security of our system.
19. One wallet for all crypto assets “ is the primary objective of MATHwallet. So, what challenges do you have and plan to make the popular MATHwallet?
20. Why do you not continue working at Huobi US instead of building Math wallet?
Mike and I believe we not only need to build a financially successful business，but we should have moral standard to respect employeesas well as work within legal and compliance framework. Math Wallet and the team exhibit the high standard and is the company everyone can trust.
21. Okay, first question from me: why is the staking rate changing everyday, and if it changes will my daily staking reward change or will it stay the same as when I begin staking?
It’s calculated on the daily basis
22. With the emergence of many blockchain projects, especially payment projects with the latest technology, scalability, efficiency, even without transaction fees. Does MATH WALLET feel the pressure from this on the race of global payment solutions?
23. I experienced the Math Wallet app and found it very smooth and stable. However, there is still an error between the web and the app, for example receiving the red packet. What do you think about this and how to fix it in the nearest time?
Thank you for your feedback. Will follow up and fix
24. How to attract more users to want to use MATH WALLET product , if the user has no experience at all?
25. The two biggest obstacles to forming exchanges are easy access and transparent communication, which builds trust. What do MathWallet do to overcome these 2 challenges and really provide a quality experience for users?
Being a blockchaing company, we are to be transparent and that is the core of our philosophy. I beleive trust can’t be made overnight. It has to be build up over time through what we do. We have been doing well in the market for the last couple of years and gaining more and more trusts from our users. We don’t go out and shout to trust us as that isn’t the way we should earn trust. We can earn the trus by providing the services our users need in a way that satisfies their needs.
26. How does Math Wallet aim to become a comprehensive solution for the depository and use of cryptocurrencies and products of decentralized ecosystems?
27. What are the technical breakthroughs of Math wallet ? Will there be upgrades and additions of new technology in the future?
28. What are your major goals to achieve in the next 3–4 years? What are your plans to expand and gain more adoption? How do MATH WALLET elevate crypto participants’ understanding about project?
29. What are the major milestones you have achieved so far?
30. What’s the Algorithms which are used by Math token for fast and scalable transactions ?
31. Why do you still start with Math wallet while there are many famous wallets on market such as Trust wallet, Atomic, Cobo…?
Hi, I like your name lol. Yes, there are a lot of wallets in the market. However, we can be the one-stop service for your needs unlike other competitors. For example, Trustwallet also provide staking services but I beleive they support only one token when we MathWallet supports 9.
32. Adoption is one of the most important factor that all sustainable blockchain projects should focus to be more attractive in the invertors Eyes. Can you tell me what MathWallet has done and plan to do to achieve Adoption in the reality, real use cases,our real society?
33. What happens when a user loses his seed, be it by death or negligence? Can Math Wallet solve this problem?
34. what are the ways that Math Wallet generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
35. How do you plan to add coins to other platforms?
36. The crypto market has a lot of fiercely competitive . How does MATH wallet plan to attract users to survive and grow?
37. What’s your outlook on the future of cryptocurrencies? What makes you believe that MATH will be truly successful?
38. For any Cryptocurrency exchange, Security, Liquidity & Adoption are very important ! So, Whats your solution on these major problems ? How MathWallet ensures Security of user funds, and bring liquidity in wallet?
39. Have you run any bounty or airdrop programs so far and if so how many tokens were allocated to this and how long are they locked for ?
40. While many smart solutions can be implemented with the existing central systems, why should countries turn to blockchain-based solutions while they have technological infrastructure?
41. I experienced the Math Wallet app and found it very smooth and stable. However, there is still an error between the web and the app, for example receiving the red packet. What do you think about this and how to fix it in the nearest time?
42. With more and more wallet project appearing in the market, what advantages does Math wallet have over other another wallet project ?
43. How will blockchain technology be used on MATH WALLET? Is its role as a payment system through a decentralized market or as a core feature?
Safety is our pride. Math will be used for staking、loyalty reward、and eventually payment when we work with banking and insurance companies to bridge the difference and improve efficiency.
44. can you tell me why I should invest and hold Math tokens in the long term?
45. Math Wallet was born a long time but few people know you, so your marketing strategy next time?
46. We have seen recently that many Wallet have got Hacked and Leaked their User Data even the Biggest Exchange Binance. How MathWallet Handle all these problems?
Yes, we have seen many of this kind of incident. We have a very capable CTO who takes good care of our overall security and we have never experiences any security breahces so far. We will do our best to keep things this way and invest more to provide better security.
47. Okay, first question from me: why is the staking rate changing everyday, and if it changes will my daily staking reward change or will it stay the same as when I begin staking?
It’s calculated on the daily basis
48. Currently there are many wallet for users to choose such as trust, houbi wallet, So in your opinion why users should choose Math Wallet instead of those wallets? What are the advantages and differences of Math Wallet ?
49. Can you list some of the advantages of MATH WALLET to attract developers? and how it will attract DApps developers from other blockchains?
50. covid 19 is causing a sharp decline in financial markets. Does that affect the MATH development process ?
51. As a new comer, which steps will be the easiet way for a random person to start Social Mining on Math Wallet ? Which conditions and requirement does it need?
The easiest way is to use our VPoS service. You can simply transfer your tokens that we suppor to your VPoS account (after you create one) then you will start earning your interest from day 1. Please see this blog if you need more information.
52. How can control Asset in wallet which means your security about?
53. What is the competitive advantage your wallet has that you feel most confident about?
54. Security and Privacy feature should be the top priority for any organization. How MathWallet implementing various methodologies to Validate the participants?And also to protect the user-data’s privacy?
Hope my earlier answers satisfy your question
55. What additional features are in the pipeline for the MATHwallet? Will there be an advantage to using the MATHwallet compared to a hardware wallet (Ledger) and the observe function?
56. Currently, the competition for wallets is very fierce, as there are so many good wallets to store now, so what is special in MATH WALLET that investors use you?
A lot of good products come and go，they run out of money or dont have sufficient partners to scale up. we are here to stay and build a digital bank based on blockchain
57. Why should users choose MATH wallet? What advantages does MATH wallet have to attract them?
58. Does Math wallet support some features such as mainet a token, swap, cross-chain…?
Yes, we do provide for example swap features. You can actually visit our website and see what features we offer.
59. What are the strengths of Math Wallet compared to similar projects? Why should we choose Math Wallet to store and use?
Professional team including Mike and I with excellent skill set. we are both US citizens and respect laws. I think it’s important because there are a lot con artist in the blockchain industry. We have some of the best investment and we are well prepared for commitment. We have really good tech team and have built security and trading products with consumer experience in heart
60. The epidemic of acute pneumonia (ncoV) has affected the world economy heavily and Chinese , US is an example. So how did this affect Math Wallet? Do you have a plan to overcome this after the epidemic weakens?
Hope you and your family are sound and safe duing this pandemic season. It is very unfortunate that with the downturn of the economy, crypto industry overall is also taking some damages. However, rest assured, we are doing well and in China things are getting better everyday. My only concern is actually the US market and it will be another 3 months for the US to see some recovery. Until then, I guess we all have to suffer little bit….
61. Can you tell us something about the adoption of MathWallet ? Like where you would love to see the usage of MathWallet ?
One of our main goals this year is to incrase our users that use VPoS service which gives you higher interests on your asses you trust with us. Providing services that actually help and benefit our users is the key to increase the adoption
62. With the current market ( long bear market ) which development direction do you think is suitable for Math Wallet at the present time as well as in the near future? How will you make sure that they get goods return & Protect the Value of Math Wallet for them?
63. If I have a passion for technology and blockchain, can I have the opportunity to work for Math Wallet? And what is the condition? Why did you choose Vietnam as your destination? How do you assess the blockchain potential of Vietnam?
We see the opportunities in Vietnam really high and that is why we are trying to expand our service to the Vietnamese market. Unfortunately, we don’t have a physical office in Vietnam so it will be a bit difficult for us to hire anyone in Vietnam for now. But please be a supporter and always follow us on social media then who knows there could be an opportunity when we actually open up our office in Vietnam?
64. Trust is very important in Business . What makes investors, customers and users feel safe when working in Math Wallet ?
I believe trust should be won through years of consistent service and records. Since we started our service, our service has been very secure and we never failed to deliver our promises in returning higher yields to our staking users. Please keep following us on social media and help us be a better service provider
65. Security issues are currently a headache for both investors and exchange. So how will personal information and investors’ assets be protected by Math Wallet? If there is hacked hacker Math Wallet will handle how?
66. How many partners currently trust Mathwallet? What benefits do these partners bring to you and vice versa?
We have five major partners，major exchange Huobi，Meitu which has over 100 million active users worldwide，Kingsoft WPS which is a mobile Office software ，Findora which is a Zero Knowledge Proof privacy technology company built by Stanford university PhD，Loyal Trust Bank
67. What are the advantages of MATH that makes us have to buy it and keep it ?
68. If I have a passion for technology and blockchain, can I have the opportunity to work for Math Wallet? And what is the condition? Why did you choose Vietnam as your destination? How do you assess the blockchain potential of Vietnam?
69. Adoption is one of the most important factor that all sustainable blockchain projects should focus to be more attractive in the invertors Eyes. Can you tell me what #MATH has done and plan to do to achieve Adoption in the reality, real use cases, our real society?
As I previoulsy mentioned, we are in the process of adding more services that can be used in our daily lives. One of them is financial serves that you can use to pay or borrow along with making interests using our VPoS service just like the banking service.
70. Can you tell us the motivation and benefits for investors to MathWallet long term?
We are a tech drivine company and our focuses have been on security and our offerings. A lot of blockchain companies do not have one single viable product that they promised to deliver. However, we are the one of the rare blockchain companies with an actual product with a good number of adoption. I guess this will make us stand out among all other blockchaing projects and companies?
71. How do you feel about the Vietnamese market? Is this a suitable market for Math Wallet development? Do you have plans to develop Vietnamese community after this AMA ?
72. Staking seem to be popular right now on many blockchain project to encourage investors to hold tokens and make it healthful for project ecosystem. Does Math tokens support this as well? If yes, what will requirement of a Node and a Validator node be? And how does reward base on?
Staking is one of our core features and we believe our staking service offers one of the highest yields in the industry. Participating in our staking service is actually easy. Just download MathWallet and join our VPoS service. You can see more information on our blog.
73. Why did you decide to include Math Wallet in the operation of Staking in early 2019? How can I participate in staking on Math Wallet, is this difficult?
It is easy. You can download MathWallet and you will see VPoS menu there. It is not difficult and there is a tutorial in our blog