Stefan Kimmel’s Insightful First Telegram AMA

In a recent Live Telegram Ask Me Anything (AMA) session held on the evening of Wednesday, January 17^th, M2’s CEO, Stefan Kimmel, addressed various questions raised by the community and provided valuable insights and key aspects of M2’s strategic vision. 

Here are some of the main questions that have been addressed. 

When will this exchange have good liquidity, with all sorts of coins and massive liquidity to make it easier to trade on the platform?

While you don’t see a lot of trading volume on the platform so far, don’t forget we are at the beginning of building up our user base. Liquidity and user spreads are still decent because of the market makers we’ve onboarded. Our exchange currently supports over 30 cryptocurrencies with plans to significantly increase these during the first quarter of 2024.  

As a regulated platform, we just need to make sure that our selection process is rock solid, focusing on credible and substantial assets, which is key for maintaining the integrity of our platform and the trust of our users.  

I am curious about the rationale behind the age restriction and would like to understand if there is any possibility of reconsidering the minimum age to at least 18? This adjustment would enable a broader user base to benefit from the M2 Exchange. 

Unfortunately, there’s not much we can do. As M2 is a regulated crypto investment platform, we need to follow all the instructions from our regulators regarding age restrictions which are there to protect younger users.  

How will M2 exchange differentiate from other exchanges? 

There are two key aspects, market leading yields on our Earn plans up to 10.5% on BTC and ETH. Secondly, as a fully regulated platform, we offer a maximum level of security and transparency to our users. The bottom line is high yields on a secure platform.  

The M2 volume is still very low. What is the plan to get more adoption/volume to the exchange? 

So far, we have focused on ensuring the platform is robust and scalable and to incorporate all feedback we’ve received from our users and community.  We will start ramping up marketing efforts from mid-Jan, which should give a push to user acquisition and increase our volumes.  

What is the fair value of MMX at the moment in your opinion? 

I want to avoid specifying target prices. I will leave this to the market. We want to ensure that there is sufficient liquidity for the people who want to purchase or sell MMX.  I want to be careful and make clear that I’m not providing financial advice, but we are super bullish about the prospects and plans for MMX and M2 generally.  We have only just started!  The last couple of months was about setting the foundations.  You will see that in this New Year, we will be announcing lots of exciting new features and products for both MMX and M2. 

When are futures going live?  

Futures trading is a key component of our strategic roadmap, and I’m excited to share that its integration is well underway. Our team is working hard towards bringing this exciting feature to our platform at the end of February.  
 

When will the app be available on the App Store?  

Well, I’m hoping my marketing team will be ok with me announcing but The IOS app will be in the app store in the UAE from next week. We are working closely with Apple to get it listed in all countries we serve ASAP. In the meantime, users can download the test app from our website. Also, It’s fully available for Android users.  

When will the on/off ramp feature be ready?  

This is the most asked question! We are in the final stages and awaiting the last approvals. We are hoping to share more news soon.  

The yields you offer look too good to be true sometimes. How can you offer such high yields? 

Our main source of generating yield for the earn plans is through our bitcoin mining. We can do that based on our strategic partnership with Phoenix Group and the network we’ve built with miners around the world.  

The second avenue for yield generation is our lending product. So far this is live only for institutional customers but will be available to everyone by the end of Q1.  

What are you most excited about on the M2 product roadmap?  

There are a ton of features coming very soon, even as soon as Q1. Some great ones include the M2 Crypto payment card, crypto loans, OTC desk, futures trading, and referral bonuses.  

Conclusion

As we reflect on our first Telegram AMA session, it becomes vital to see that such interactions are invaluable for fostering transparency with the community that we serve. The insightful questions and candid responses show the collaborative engagement and open communication hat M2 aims for. 

Stay tuned for more AMA sessions together.