4月28日17:00,ZB CEO 欧码受邀参加由RightBTC举办的线上AMA活动，在R网的官方电报频道与R网社区成员分享项目最新进展并进行回答互动。以下就是此次AMA直播内容回顾。
时间：2020年4月28日 星期二 20:00
We know that you have been involved in traditional VC / PE and blockchain exchange business. Can you share with us the creation opportunity original intention of ZBG and the experience of taking over ZB later?
Omar：Hello, everyone. I’m Omar from ZB, formerly from ZBG. I majored in computer. After my graduated, I worked as a programmer in Ericsson, then worked overseas for 10 years in Huawei, and also did a short period of traditional VC / PE. Over the past two years, I have grown up with ZBG and witnessed an exchange go from 0 to 1 to the top 10 in the world. Today, I am delighted to be here in the R network community.
When I worked in Huawei overseas, I spent 10 consecutive spring festivals in different regions overseas, including the Middle East and north Africa, Europe and southeast Asia. Later, after returning to China to obtain the fund qualification, I did a short period of VC/PE entrepreneurship. However, i was found that traditional companies need to go through multiple rounds of fundraising to be listed, and the blockchain industry was in a big bull market at that time, especially in the second half of 2017. At that time, many companies successfully raised funds through blockchain. I found that the blockchain technology can effectively help the development of many entity enterprises, so I decided to devote myself to the block chain industry and met ZB by chance to do pioneering work of ZBG. I worked with my team to witness the rapid development of ZBG.
At the beginning of this year, ZB added the strategic investment of ZBG and BW, two independent platforms. As a replacement, I am also in charge of ZB.com platform.
From ZBG to ZB, the operation of two different platforms is actually like two stages from 0 to 100, and from 100 to 10000. ZBG is a platform focusing on innovative currencies, while ZB is a platform focusing on mainstream currencies. The user attributes of the two platforms are quite different, and the way to serve customers may be different. But our trading platform is essentially a service industry, providing high-quality trading services to blockchain enthusiasts around the world, and more like an Internet portal.
As for biggest feeling, it’s tiring to do this job, and it’s really not easy to provide continuous service for 7 * 24 hours, so thanks to the efforts of ZBG’s team, it was able to break out of the top 10 in just one year. I wish them better and better, continue to benchmark Binance; also thank the current ZB team, as stable as Coinbase, in the past 7 years, it has continued to provide quality services to millions of users.
What role does ZB token play in ZB ecology? What are the specific internal interests? Can you give a few examples and explain them in detail?
Omar：At present, ZB has four trading areas: spot trading, fiat trading, margin and loan, and also has ZB/QC, ZB/USDT and ZB/BTC transactions. ZB token started in 2017. After three years of ecological construction, it has served millions of users worldwide. In February this year, ZB team officially gave up all 293 million ZB tokens held by the team and burned them forever, as well as 107 million ZB tokens from user protection fund, which burned 1.4 billion ZB, or about 2.456 billion CNY.
Since then, ZB token have entered an era of absolute deflation. Affected by this, ZB rose by more than 26% within 24 hours, and was vigorously promoted by overseas and Chinese head media and market platforms including CMC, Mars Finance, and Jinse Finance. ZB token are also rated as one of CMC’s top 5 platform token of the year.
In my opinion, the core value of platform token is reflected by forming more user needs and empowering platform token in more application scenarios. The value support of ZB token comes from: the empowerment of ecological construction, the expansion of trading channels and the construction of a deflation model based on the burned of ZB token repurchase.
The deflation mechanism of ZB token is 25% of spot trading fees, including 100% of ZB token from UP sales, which is used to buy back ZB token and completely burned them. So far, the total amount of ZB token issued is 678 million, the secondary market circulation is 446 million, and the user protection fund is 231 million.
Since the issuance of ZB, we have repurchased a total of 290 million, of which 145 million ZB was repurchased throughout 2019. As of the time of the last repurchase announcement (December 7, 2019), the circulation was 468 million. Therefore, the total number of repurchase accounts for 65% of the total circulation. If we follow the repurchase intensity in the whole year of 2019, we (the total circulation of the secondary market is 468 million) / 145 million, we can complete the repurchase in only 3.2 years. This is equivalent to let the investment users holding ZB enjoy the dividends brought by token deflation, and the return on investment is guaranteed.
去年下半年至今，ZB积分也陆续上线了BiKi、Hotbit、Hotcoin Global、雷盾、Bitfinex、Ethfinex、Homiex（红米）、UBEX、Panda Global、BTCDNA、BTB等17家数字资产交易平台。持有ZB还可以享受五折手续费折扣、中币UP优质项目申购额度。
Since the second half of last year, ZB points has launched 17 digital asset trading platforms, including BiKi, Hotbit, Hotcoin Global, LOEX, Bitfinex, Ethfinex, Homiex, UBEX, Panda Global, BTCDNA and BTB. Hold ZB can also enjoy 50% discount on handling fee, ZB UP premium project purchase quota.
In terms of expanding application scenarios, ZB has reached cooperation with many small and medium-sized enterprises and institutions, covering many important scenarios such as payment, transaction, financial services, lending and financing, network security, leisure and entertainment, and games.
由中币首创开发的ZAPP （类APP store平台），旨在让ZB积分未来的应用场景更加多元化。通过让第三方应用接入，结合第三方的行业应用不断创新结合资产上链，进行ZB应用的场景进行持续拓宽，比如游戏，商城，直播，金融，医疗等等。
ZAPP (APP store platform) first developed by ZB aims to make ZB token future application scenarios more diversified. By allowing third-party applications to access, combining with third-party industry applications, continuously innovating and combining assets to be on-chain, and continuously expanding the ZB application scenarios, such as games, malls, live broadcasting, finance, and medical treatment, etc.
With the gradual maturity of the whole market and the change of the industry pattern, ZB industry positioning of focusing on serving value investors is becoming clearer and clearer. Meanwhile, the voice of major customers is growing louder and louder, hoping that we can launch a strong equity system and privilege. Based on customer demand, target and ZB’s principle of focusing on users’ interests, ZB VIP customer rights system has been launched. VIP users of other exchanges can directly come to our platform to become VIP + 1 users and enjoy ZB VIP exclusive rights.
While constantly exploring the ecological value of ZB points, we have been adhering to the humble attitude of continuous exploration and progress, and we hope to hear more opinions and suggestions, and you can leave any comments on the ZB official blog.
Can you tell us about QC? What is the market prospect and profit of QC?
Omar：QC is based on the compliance stability currency of ERC-20 and QRC-20. Anchor CNY 1:1 exchange and conduct regular audit. The headquarter is located in Singapore and has branches in Hong Kong. The project members are composed of talents from various fields such as blockchain, finance, internet, and data from all over the world.
The early launch of the stability currency USDT, but the instability caused by crazy overissuance, the opacity caused by the absolute centralization of issuance supervision, and the security risks caused by the “theft incident”, all led to the USDT into a crisis of confidence in the market. QC’s CNY 1:1 reserve mechanism, regular audit and compliance endorsement make up for these problems.
With regard to future prospects and earnings, I would like to mention that, unlike project token, QC will not profit from price fluctuations. QC belongs to the compliance stable currency, which is designed to bring security to cryptocurrencies. They are backed by fiat, commodities or other crypto tokens.
When other assets such as Bitcoin, Ethereum and Monero experience significant volatility, QC is relatively stable because it is anchored with CNY1: 1.
Second, stablecoins are equivalent to an ecology. Officials will not use QC itself to profit. After the application of QC in the payment field and the primary and secondary markets, our profit-making method is equivalent to linking upstream and downstream of different industries to obtain more users and traffic.
From the perspective of users, I would like to mention the user’s income. On the one hand, the stable currency can be used as the value storage function of digital asset transaction, and the biggest help for the transaction is actually the transaction arbitrage between the stable currency.
At present, QC has launched QBTC, BW, ZBG and other exchanges, and gradually has a series of layout from the internal products and external ecology. In terms of internal products, the first-level coinage mechanism will be further optimized. From an external perspective, QC will launch a series of products to contribute to the enrichment of the ecological layout.
ZB token and QC are about to launch RightBTC and open trading pairs. Why did you choose to cooperate with R network this time?
Omar：ZB attaches great importance to ecological development, and this strategic cooperation with R network has strengthened the further expansion of the advantageous resources of both sides. ZB will fully cooperate and support in technology development, digital asset trading, community promotion, media publicity, resource sharing exhibition and other aspects.
We also hope to have in-depth cooperation with more partners to jointly build a multiple chain ecology and create a real value network foundation, so as to support the landing of more business applications.
ZB token and the biggest CNY stablecoin QC in Asia will soon be launched in R network, and we will timely follow up and disclose the further progress. We also welcome friends who are interested in developing together in the business chain to communicate with us.
Recently, the market has turned better. The market of the platform pass is very good. How to see this phenomenon?
Omar：On February 10th, OKB and ZB announced the burned of platform coins, followed by HT, and after the burned, the platform coins ushered in a wave of upsurge and carried out an economic deflation.
Platform tokens were the first to rebound in the bull market last year. In fact, it is a bit similar to the plate effect in stocks. The encrypted digital currency market also has such inter-plate effects. The halved currency plate changes and the platform currency plate are inextricably linked. In the face of halving, the performance of each platform coin has naturally become a topic of concern to users.
Exchange will regularly repurchase the circulating platform currency at the market price and burn it no longer in circulation. The number of platform coins circulating on the market will become increasingly scarce. Due to market supply and demand, prices will rise when the supply of goods is in short supply.
I have mentioned in the AMA many times before that it is a mistake to only see burned without talking about repurchase. Although most exchanges are regularly repurchasing the circulating platform currency and burned it, its function is rapid and short after all. The value of any platform currency can’t rely on such a “visible” to maintain the growth. I think we should start from the following aspects.
Platform endorsement: The value of the platform token is mainly determined by the value of the platform itself. Only a trading platform focused on the development of the industry, with a good industry background and financial strength, can the real potential strength of the platform currency be exerted.
Token economy: The token economy must be integrated with the business itself, otherwise it is pure financial means to “pump and dump”. Therefore, the design of the token model must be implemented on the business layout itself in order to continuously attract different user groups to continue trading and investing.
Application value: empower platform coins to use in more application scenarios. The more places used, the more benefits the platform gives to users, the more users can be attracted to hold, and the more it can reflect the use value.
ZB token has a wide range of retail token holders, a mature community structure and a good brand reputation area, which will form an mutually empowering organic relationship with ZB ecology. This will also be the core strategy that ZB adheres to for a long time: inject long-term value to ZB, unify the value carrier, and realize the continuous growth of the core value of ZB.
Has ZB recently made any major moves or benefits to the vast number of users?
Omar：This year, we launched the “ZB angel” global recruitment plan, which is not limited to community partners, crypto space, chain circles, mining circles, self media KOL, community leaders, well-known project parties, well-known Media, investment institutions, exchanges and traditional financial institutions, as well as senior digital currency investors, blockchain technology researchers and enthusiasts, blockchain independent developers, encrypted digital economy researchers and enthusiasts.
“中币天使”全球招募计划是中币官方联合100+行业媒体在ZB APP百万热聊群进行的线上推广活动，通过发放微信token红包和社群token红包的方式增加用户粘性，我们也一直在不断引入币圈KOL、权威资讯媒体等优质领袖，确保我们的线上活动紧追热点、真实有料，在用户依托ZB APP交易的同时，为投资者提供存币挖矿、借贷理财等一系列的价值投资服务。
The “ZB angel” global recruitment plan is an online promotion activity conducted by ZB official and 100+ industry media in the ZB APP million hot chat group. By issuing WeChat token red envelope and token community red envelope filled the way to increase user stickiness, we have also been continuously introducing crypto space KOL, authoritative information media, such as high quality leader, make sure that our online activities chasing hot spots, the users rely on the ZB APP traded at the same time, provide investors with staking mining, loan and a series of the value of the investment service.
In the past two days, the staking mining function of the mobile terminal ZAPP has also been launched, and currently supports the staking mining function of three mainstream currencies: EOS, VSYS, and TRUE. Staking will provide you with an opportunity to gain additional profit. In fact, the user deposits 150,000 related token in the exchange or wallet, and the exchange or wallet provider builds the master node to mine, and after receiving the revenue, it is divided with the user. For the user, just like deposit money in the bank regularly, the interest is due and the principal is yours.
The biggest attraction for investors are high yield. Take VSYS as an example, the annual yield is as high as 15.60%. ZB is a very early layout of Staking exchange, because Staking for the majority of users to bring continuous and stable income. Users can freely trade, withdraw and Staking profits every day.
In terms of product diversification, USDT dollar deposits and USDT / QC 10 times margin trading are also our recently launched welfare activities.
On April 20th, our OTC trading area launched the USD / USDT unlimited one-click 饿 exchange function. During the event, the transaction fee is 50% off for a limited time. In addition, the PAX / USDT one-click exchange fee is as low as 0.25%. 50% discount for limited time: 10:30 on April 20th — 10:30 on May 19th.
USDT/QC 10 times stablecoin “not to liquidation” leverage trading has been open for a long time, but because of its stablecoin “not to liquidation” advantage and originality, also attracted large institutions and retail investors in the Chinese speaking region. QC is the largest CNY stablecoin in Asia. Through the trading experience of QC and USDT margin leverage, the profit and loss calculation is closer to the spot. The margin value is relatively stable. There is no need to calculate or hedge the risk of margin value fluctuations, which is easier for fiat currency traders to understand and operate.
At the same time, we will also take a relatively stable route based on industry and platform strategies to help more value investors’ assets steadily increase in value, while also continuing to consolidate our industry leading position in digital asset financial services.
The digital asset trading industry is highly competitive, and innovative products and services continue to shape the next step in this new market. How do you see the competition & partnership between exchanges? What are your thoughts and Suggestions for the development of new small exchanges? Next, what is the development plan of ZB?
Omar：In fact, the exchange has always been a race track, many exchanges appear in front of the public eye, but also more disappeared. The rational competition between trading platforms is actually the driving force behind the positive development of the industry. ZB has always been looking for space and opportunities for win-win cooperation.
But as an exchange, I think the bottom line should be user supremacy, which is a prerequisite for benign competition and cooperation between exchanges.
There are still many opportunities for emerging small and medium exchanges, because this industry is still in its early stages, and the industry is constantly changing, and change means opportunity.
In the past 6 years, ZB has also focused on building teams. The company has grown from more than 20 people to the size of thousands of people around the world. The essential consideration is to build an excellent team. Under the premise of laying a good foundation, I think the ability to predict the market and grasp market opportunities will be the most important.
ZB is one of the few global ecological exchanges with comprehensive currency support and globalization. ZB is the first mainstream exchange to list Ethereum and EOS. We are always support innovative projects, also the first online including QTUM, HSR, BTS and XRP upside potential huge currency, the fact proved, during 2016-2018, ETH from 30 yuan rose to 11000 yuan, EOS from 6 yuan to 140 yuan, BTS rose from 0.5 yuan to 3 yuan, XRP rose from 1.25 yuan to $24, in the market, ZB.com users actually earn money.
Finally, it should be emphasized that only by truly putting users first can the exchange continue to go forward. ZB has always attached great importance to user feedback. I still remember that when the 10 times USDT/QC leverage was launched, the platform received a lot of feedback from new and old users. In that product update, we built risk control system and fee-free activities for traders.
For the last question, I will briefly introduce the current layout of the ZB here.
In terms of product layout, the current trading categories include spot trading, leveraged trading, fiat trading and loan four trading areas, a total of 106 listed currencies, and 197 trading pairs.
Market layout: The market covers English language, Chinese simplified, Chinese traditional, Korean market, Japanese market, Russian market, Arabic market and other 11 language channels.
Ecological layout: reached strategic cooperation with a number of small and medium enterprises, trading platforms, head media, and initiated a breakthrough in social + trading.
Market performance: At present, the average daily transaction is about 3 billion US dollars, CMC liquidity ranks among the top 5, and Coingecko ranks in the top 10 globally, and the highest is 5th. The famous Chinese market platform Feixiaohao is ranked in the top 5, the Jinse finance list is in the top 5, and the Mars finance list is in the top 3.
全球合规化布局方面：目前我们已经获得了新加坡金融管理局公布的首批 PSA 牌照豁免经营权，中币可在豁免期运营数字货币相关支付业务；4月13日，正式获颁美国MSB牌照。
In terms of global compliance layout: At present, we have obtained the first batch of PSA license exemption operations announced by the Monetary Authority of Singapore. ZB can operate digital currency related payment services during the exemption period; on April 13, it was officially awarded the US MSB license.
As a 7-year old first-tier exchange, ZB has been moving steadily. This year’s focus will be on global compliance operations, business development and product polishing, driving overall business growth, while completing our mobile, transparent and international planning. In terms of brand promotion, ZB will also increase its product promotion efforts this year to synchronize our latest development status to everyone in real time, so that everyone can see a brand new first-tier old trading platform ZB.
The last question, can you directly share your predictions about the future trend of BTC in this year?
Omar：One of the ideas I mentioned last year in the Mars editor’s remains the same.
There will be a halving market. In the history of bitcoin, every half year before and after the halving, there will be a sharp rise, and the number of users in the crypto space also increases greatly. This has almost become an inertia rule and I believe this time will be no exception. Because Bitcoin is currently the most successful blockchain application and the consensus engine of the entire crypto space. You can see the historical graph. From the first halving on November 28, 2012, 25 BTC will be generated every 10 minutes. It will be halved to 12.5 BTC for the second time by July 10, 2016, and further halved to 6.25 BTC by the end of may, 2020.
And I think this year bitcoin is going to be higher than it was before this year. Of course I would say that the future is uncertain, and all speculations are based on existing information. Therefore, we must pay close attention to the development of the epidemic, including the situation of the US stock market, but also include the Fed’s interest rate cuts and the follow-up of other central banks. But overall, I think this year’s high probability bitcoin can still break the historical highs of the beginning of the year. But it’s too difficult to guess exactly when, and this is almost impossible to guess.