July 4th AMA

KEY POINTS CEO MENTIONED IN THE AMA

LISTING

At LATOKEN with had a discussion about $1M of tokens but it is settled and going live next week.

ExMarkets we have the green light for listing after integration of our tokens to their platform.

P2PB2B also seems to have a go.

So hopefully these 3 next week.

As you we hope to list asap but we rely on the exchanges.

2LC PRICE RATE

Because of the much FUD in our community a lot of users dumped their tokens.

Someone smart and maybe he/she started the FUD bought all these cheap tokens.

We told you to HODL the price will get up.

Next week we are locking a lot of tokens and opening a staking pool with high bonusses for long lockup.

TIER-1 EXCHANGE

We are still planning the Tier-1 exchange.

2LC needs to have a more stable Volume and we didn’t hear back from KuCoin at the moment.

I am in a group, created by Simplex which is also used by KuCoin.

Also I contacted their CEO Eric Tang but he can’t help by giving us more priority.

DEVELOPMENT

We have 4 development teams.

1. Homepage

2. Quick fix as they are working now on the https://demo.2local.io/exchange#/exchange.

3. Main team developers.

Main team developers are building the final exchange but this will take several Months.

In the mean time we have team Quick fix who will deploy the exchange.

I hoped we had it finished by today but as you can see this team didn’t get it done on time.

And they are now on Holiday for 2 weeks. In about 3–4 weeks the temp. Exchange will be deployed.

SECURITY AND AUDITS

Our 2LC contract is audited by Certik https://www.certik.org/projects/2local

And we let all of our smart contracts be audited.

We choose Certik because they are official partner of Binance and as you know we are at the BEP-20 and I think we have chosen the best.

Also we have a 24/7 monitored server at Amazon (AWS).

Being a HeX (= DeFi with accounts) makes it ‘easy’ to secure.

You can compare our security as the same of a banking website.

At the moment we are also working on a dedicated SSL certificate so you can see in your browser bar that it is us…. or not.

PROGRESS

We had big influence of the Corana virus. One example, the wife of our former COO presenter died and he ended his time at 2local.

We switched very late in the project from own blockchain to BEP20.

This costed us Months of work.

But I think it was the best solution.

NFT

Next week we will add a NFT to our homepage, to show we are working on this.

At the moment we are talking internally if and how we should implement NFT trading.

REVENUE

We create revenue from transfer fee in our Yield farms and transfer fee of buying crypto with fiat money.

INFORMATION OF PROGRESS

Our new website has a new Roadmap and we will sending News letters more frequent.

Also our in house artist Fabian9 is very suited for creating NFT’s ourself.

1*

The financial sector has pulled value out of the economy for a long time now.

Now we have crypto and the miners are pulling out value.

The planet is getting more and more unsustainable and equality is getting more and more.

We want to share the wealth of the blockchain with people and companies who are working sustainable and/or working local to local.

2*

We are still partners with Simplex.

We expect to have the functionality of buying tokens up and running in the next couple of 1–2 weeks from now.

The debit card is planned in Q4 this year but we are a bit under pressure.

We need 2–3 Months of revenue and we start having that after we have implemented Simplex to the platform.

The first 3–6 Months we charge an extreme low exchange fee to get things rolling.

So you can buy tokens cheap for this time at our platform.

3*

At the moment we are talking with an equity investor for an investment of $5M.

For example, with this we can provide our own liquidity for the swap functionality of the exchange.

Also we are talking with Farswap and more to be listed there.

4*

Next week we are deploying a stake smart contract, this one is audited at the moment.

We will create staking pools / yield farms.

With one staking pool we will do trading.

And also a BOT is being created to do the trading.

This will be made fully visible on the website.

The strategy we use and the value of the LP token which will be involved.

About percentages etc, this is something you have to have a bit more patience.

5*

We have seen quite a lot of users, being influenced by FUD talk.

And when you sold your tokens you better buy them back when the price is still low.

I know it is not easy to be not influenced by FUD talk.

Overall always do your due diligence.

We are an company in Estonia under registration number 16175753 based with a real office in Tallinn.

Our most senior team member is Harry Donkers (PhD).

BTW

Next week or week after that we will have a webpage with our employees LinkedIn and Telegram name.

Please always check if you are talking with someone of the team.

We are creating value with our users also sharing this with our users.

2local is building a loyalty platform to be the first to give the wealth of the blockchain back to the people who use the 2local coin (L2L).