Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with EXENO 29 April, 2022. This guest star,
- Gary — Chief Growth Officer
- Gosia — Chief Marketing Officer
Gary | Exeno
Hi, my name is Gary and I am the Chief Growth Officer here at exeno. I’ve collaborated with the company to some degree for nearly two years now and officially joined last year. As a result, I’ve been able to witness first hand its rapid progress. For me exeno developing real well thought out products meaning to address real challenges within the blockchain & crypto space really got me excited and what we have planned this year from products to our new exeno coin presale starting on Monday continues to drive me. I was a crypto enthusiast since 2011, mining & trading and got focused in the industry more career-wise from 2017 within numerous blockchain & crypto projects.
Gosia | Exeno
Hello everyone, my name is Gosia, and I’ve been the Chief Marketing Officer here at exeno for just under a year now and am still as energized about it as I was when I started. While my background is working with some very well recognized international brands, personally I’ve been investing in crypto since 2018. In addition to what Gary mentioned and the ability to finally enter this space with more focus, what also really attracted me to exeno was the ecosystem combining well thought out & logically connected features that we will see more of this coming year.
Can you tell us about Exeno, the idea, how it started? What mission want to achieve?
Gary | Exeno
exeno is one of the only (if not the only) companies around fully focused on driving the full scope of the crypto based digital commerce industry, or as we are calling it, crypto commerce (“c-commerce”).
The first version of its platform was deployed last year as a proof of concept (PoC) and not only were valuable learnings taken from it but the company also witnessed early promising sales.
As a result, this year exeno began its journey to develop numerous features that go beyond a crypto commerce platform and will add further functionality to the exeno ecosystem. So far exeno deployed version 1.5 of its site and marketplace (i.e. the site that is currently live). It is also deploying its own coin soon, exeno coin, that will not only have numerous features on the current site but will also fuel the upcoming features planned for deployment and that are discussed on the whitepaper. You can see our initial whitepaper release here but please keep in mind that we are continuing to refine it: https://whitepaper.exeno.com/
To summarize, we are a dedicated bunch of experienced people looking to drive this sector forward with already deployed products and more on the horizon to build an intuitive crypto commerce experience.
Let’s talk about Exeno ecosystem, What are the advantages of Exeno? Do you have core features and functional benefits that can attract users?
Gosia | Exeno
It is a great question, thank you, and I will need a bit of time to answer in detail.
We aim to solve the challenges with cryptocurrency still not being used as much as FIAT for online commerce transactions. We want to build such an ecosystem that will have value for the current crypto users and the sector’s newcomers. Indeed, we look at exeno as the whole system, not a selection of products or their features.
When we launched version 1.0 last year, it was an online merchant site with a payment gateway offered by a crypto exchange, i.e. nothing extraordinary. Taking from that and crypto consumer patterns we see within other more well-known segments of the industry, from DeFi to NFTs, we infused elements from the look and feel to web wallets into the first stage of the current version 1.5. Next month we are launching the presale of the high utility exeno coin that will have a true purpose within the exeno ecosystem now and with future versions and features. Again all the new initiatives launching are in an effort to continue to make crypto commerce feel more natural, usable, and appealing to the masses.
On the horizon, we already have a massive version 2.0 platform in the works. We develop a payment gateway that will bring options similar to those seen in traditional commerce but still new to crypto commerce (for example, a fully developed resolution centre). We also work on a bridge to use the blockchain version of the exeno coin you want to use, SSI based identity measures to make not only the shopping but also the user experience more fulfilling (for example, highly verifiable product reviews). And more:-)
We are always keeping the user experience and the varying knowledge of crypto in mind throughout the entire process.
What is the Exeno token? What are the utility in your ecosystem? What are the benefits of holding your token as long term investment?
Gary | Exeno
For full clarity, it is known as either exeno coin (or EXN) and it is only a token in the sense that it was developed on third party blockchains starting with Ethereum, Polygon and soon BNB Smart Chain with more on the horizon. Its usage will be more analogous to a coin / currency.
Having said that, exeno coin is the new official multi-blockchain cryptocurrency based on the relatively new EIP 1363 standard. We feel that when it comes to the crypto commerce industry, there is hardly a team out there as involved and as experienced within it vs exeno, and we are taking this experience into not only deploying the products as per our roadmap but developing a cryptocurrency that will a) offer users benefits that just simply have not existed as intuitively to date in the industry and b) “fuel” the operation of the products we are deploying this year.
Please take a look at the whitepaper for more in depth details (too much to write here): https://whitepaper.exeno.com/ but on a high level features exclusive to exeno coin will range from discounts and Stake Back (our innovative take on the traditional cashback) within the store to the more complex needs to ensure the effective operation of our upcoming products such as the bridge we are building as well as SSI & web3 based products.
In fact, we are exploring the need for our own crypto commerce blockchain on the horizon infused with our experience & implementing the requirements for our products, and the plan so far is exeno coin will “power” that as well.
We’ve been launching products to date without the coin and within a reasonable amount of delay (days / weeks not months so far) and even as I write this, we have dedicated resource working on deploying new ones. Knowing that we are serious about delivering our roadmap and launching products as well as exeno coin becoming the main coin for these features we feel should encourage HODling. In fact, we are so confident with that, coins purchased during our sale (starting on Monday) are not subject to any vesting period.
I would love to write all of the reasons and utility for exeno coin here but we do not have enough time 😊 however take a look at the recently launched page as well: https://coin.exeno.com/
Please inform Exeno roadmap and also what phase is currently taking place? what should we expect in the coming months?
Gosia | Exeno
We aim to “bring crypto to life” — this is a motto that fuels our roadmap. As said, we have just launched the 1.5 version of exeno marketplace, and exeno coin (also called EXN Coin) smart contracts were already deployed with the presale starting in May.
These first two products help us connect the e-commerce and crypto world to build up the crypto-commerce push. But crypto-commerce is a much broader idea, and it goes beyond spicing up e-commerce with crypto. Ultimately, we see ourselves as the platform where you can leverage multiple benefits that crypto can give you.
This year, we will further develop the marketplace with the next iteration to improve the user experience and constantly enhance the value proposition. With EXN Coin at heart, we are about to launch a Stake Back program — a new take on the current concept of cashback within e-commerce. Imagine buying your favorite brand’s phone and paying EXN. Part of the price would come back to you as a standard cashback with a bit of the rules changed by us: during the pending period before the user receives their EXN cashback, it is automatically staked for some time. The user gets the amount plus the stake earned with the option to continue to stake. It is a unique concept benefiting buyers as they can earn because of using EXN in a way that is a part of their standard behaviour (like buying a smartphone). We have invented stake back, and I cannot wait for the moment we launch it. No other player has such a distinctive value proposition. Stake Back can also educate people, especially newcomers, on the benefits of crypto and can help them understand some basic mechanics they can use for their benefit.
Using EXN Coin and the staking mechanics, we will also change the rules of referrals and affiliate programs usually used on marketplace sites.
The next step is to become chain-agnostic, thanks to our bridge solution, which we also want to deliver this year. Last but not least, we are working on exeno 2.0, which will revolutionize the marketplace model known in standard e-commerce.
We have more products in the pipeline for this year and 2023, including enhanced NFT, meta-commerce, and other ways to engage with metaverse, yet we need to keep them confidential; however you can view our roadmap here: https://whitepaper.exeno.com/roadmap-ahead
As you can see, we are not trying to introduce repurposed products but introduce well thought out ones.
Exeno’s vision is to develop highly specialized platforms and features that elevate the best areas of the industry, including cryptocurrencies, NFT and the metaverse. Exactly what role will NFTs play within Exeno? How will non-fungible tokens be used on your platform?
Gary | Exeno
It is an excellent question and I will try my best to comment without giving away too much of the “secret sauce” that we are working on :-) … First, we will launch an NFT marketplace (again powered by exeno coin) which will include a vetting system to only provide users with quality work; however, this obviously is not enough these days to create any excitement and we are fully aware of that. It will also act as a bridge for exeno into utilizing NFTs for more utility based features that enhance crypto commerce. I will give you a hint: think NFT based proof of purchase and think what can be further done with that 😉. One thing that we will promise to do is — as we get closer to deploying — we will delve into more details and it should be seen that our plan to use NFT based technology will be a) relevant b) have a true utility and c) have a unique approach that logically compliments our ecosystem. It is part of the overall approach we have been following to date and plan to continue with moving forward within other areas such as the metaverse. We do not just deploy solutions for the sake of deploying them, we spend a tremendous amount of time and resource to conceptualize it first. So even with the metaverse, we are currently analyzing what has been done there to date within crypto commerce and how exeno will enter this arena.
The crypto-based concept of Exeno will make it the top E-COMMERCE. But I’m just curious about, if BTC is the only currency accepted on your market? What about the fluctuating coin exchange rate? Is the item’s price affected by this?
Gosia | Exeno
As we want users to shop how they want, we don’t want to limit them to BTC only. Indeed, prices on the exeno marketplace are — by default — in one of the three cryptocurrencies that the users of version 1.0 used most frequently to make their purchases: BTC, ETH and USDT.
Integrations with MetaMask and Binance Pay will now allow us to secure payments in many more coins.
You will pick the final currency as the means of payment at the checkout level, and you decide which crypto from your wallet you want to use to finalize the payment. For example, you can check the smartphone price in USDT yet use DOGE thanks to paying by Binance Pay. When buying this smartphone, you will see the most accurate price according to the exchange at exeno marketplace. Before purchase finalization, Binance Pay will validate the most updated exchange rate for your chosen currency.
Exeno offers Personal Data Protection thanks to the ability to shop without registering. But doesn’t this affect the security of such transactions? By eliminating the KYC process, how do you ensure that your users are kept safe from scams?
Gary | Exeno
Btw, wow!, another great question. The short answer is the user journey is very straightforward and relies on the security already offered by our payment providers. Currently, a user comes to our site, browses the product they wish to purchase; however when they are ready to purchase this is when trusted & proven solution like metamask and Binance Pay “kick in” so transactions are mainly secured in that way.
I probably should stop there and say problem solved, right? I won’t, however, as here at exeno we not only appreciate the need for security within the crypto industry as a whole but also how much more there is to do within this field. First, we have internal protocols on how we manage our own security from how the products are developed & deployed to ensuring exeno coin is protected. Obviously, I will not reveal these 😉 but they also have an impact on our products and ensuring users are safe.
Another important part entails a part of our vision which is not just “bring crypto to life” but to also become the leader of crypto commerce. We are aware that we cannot achieve that claim if we do not take security and fraud prevention into full consideration, and that is why our push into developing Self-Sovereign Identity (SSI) based solutions is a very important part of our roadmap. We will be exploring its usage within everything from KYC to full data protection in tune with what the industry needs to potentially even combat a topic that plagues the traditional ecommerce sector, namely review fraud (estimated to cost the traditional ecommerce sector in the billions of USD per annum). We believe that what we are working on will not only benefit crypto commerce but also the ecommerce sector and will be looking to “spin off” products that will further support a growing trend whereby the blockchain based industry continues offers high value utility to the non-blockchain based industry.
Thank you again for this question, it really touches on one of our core principles.
I see Exeno are offering an Affiliation program that allows users can earn by sharing referral codes, can you please tell us more about how to participate in this affiliation program? What benefits does it offer? What is applicant’s criteria to apply for Affiliation program?
Gosia | Exeno
A full-fledged multi-tier affiliate program is in the works, aiming to introduce by the end of 2022. In the meantime, we aim to launch a referral program in Q2'22, which will allow you to earn with exeno coin.
Imagine inviting a person using a referral code. You will earn a commission on your referrals’ net amount of purchases made in exeno coin (another usage for the upcoming exeno coin😊 ). You will be able to either withdraw your commission or stake your EXN in the same interface.
In this iteration, the program will have just one tier, yet — as said in the beginning — we are working on the enhanced version to launch this year. I see this link between an affiliate programme and staking as crucial and distinguishing exeno mechanics among other programs used in the crypto space.
I read that Exeno is listed as a shopping merchant on Binance Pay. What will Exeno provide as a shopping merchant that users can enjoy? Will there be other collaborations and partnerships in the future?
Gosia | Exeno
Yes, we are proud to be listed by Binance Pay. Binance Pay is a contactless, secure and borderless cryptocurrency payment technology. This listing on Binance Pay will play a significant role in developing our ecosystem by increasing the project’s utility. As a result, users can shop with crypto on the partnered, trusted stores without any unfair fees. We are glad to get there:-).
Answering your question about future partnerships — we are working on being selective with highly reputable cooperations & collaborations. I cannot go into more details at this stage, as some plans are still confidential. Still, I can say that we aim to leverage such partnerships that will help us drive a consumer-centric approach, effective scale-up, and establish exeno as the thought leader in the industry.
It has come to my attention that you have invented something called “Stake Back”, What does this new Stake modality consist of and how does it apply to e-commerce?
Gary | Exeno
Here is the first question. Indeed Stake Back is our creation and it is a take on the classic cashback found in ecommerce. When you purchase a product that offers Stake Back, just like with cashback, there is a pending period before the user receives it. In our case that is 30 days and it is done only with exeno coin. Unlike the traditional cashback, however, this amount is also staked during this period so the user gets the exeno coin + stake APY as well! We feel this is not only a great way to introduce crypto features to users as well as give exeno coin yet another utility, but it also educates more people on the benefits of crypto helping us in our mission to bring crypto to life!
Trust is very important in business, what makes investors, customers and users feel safe when working with your project ?
sir plz ans the question 👆👆
Gary | Exeno
Here is the second one and we do agree that trust is very important and in many ways not difficult to achieve yet it seems to still be a challenge within the blockchain & crypto industry. With us, it starts with the fact that w have been delivering our roadmap to date. No ICO, no external funding (we are proud to be self funded), just a talented team on board truly believing in the vision of crypto commerce, its needs and solutions. Basically, we have launched and continue to launch products irrespective of exeno coin. We are deploying exeno coin with the genuine intent of enhancing our plans and roadmap (truly delivering top features). It doesn’t stop there. Strong collaborations are growing rapidly with the latest one seen here: https://finance.yahoo.com/news/binance-pay-now-listed-exeno-121500317.html and we will continue to certify and audit our business were relevant such as here: https://www.certik.com/projects/exeno-coin
✅ Exeno wants to revolutionize the world of e-commerce with cryptocurrencies, but what if industry leaders like Amazon simply decided to accept cryptocurrencies? Wouldn’t that end up eliminating all of Exeno’s customers?
Gosia | Exeno
This is a good quesition, thank you for that😊
Creating an eco-system is a significant, strategic decision we have made, which is reflected in our product development strategy, organizational structure, and financials. First and essential, exeno is a complete crypto-commerce ecosystem, not just a marketplace. Indeed, the 1.0 version had the marketplace and crypto payment only, but we are adding new, different products, not just features, to the existing marketplace with the following versions.
For example, at the heart of the system, there is exeno coin and, by the way, I believe it’s unlikely that the traditional e-commerce platforms will embrace crypto to the level they understand the economics fast enough. In my opinion, we can see the struggle for non-blockchain companies truly understanding this sector such as Meta (FB), Ubisoft, and time will tell even what happens with Twitter (with many more examples). We cannot assume that they have the right knowledge to enter our sector just because a company is huge.
There are also other products which you can read more about in the White Paper: https://whitepaper.exeno.com/
We are looking to dominate the segment by developing more features in the future as per the roadmap:
a) industry-inspired UX, b) Stake Back — a program which changes the rules of standard e-commerce cash backs, c) enhanced Affiliate program that also allows you to gain margin from your referrals shopping, yet allows you to Stake Back from the same interface, and the more complex ones that will still deploy this year.
what is the background, of the your project, team do you think team’s qualifications, and experience, able to support the long-term development, of the project?
Gary | Exeno
Here is the next one for sure. All of our senior team members have at least 12 years’ experience in their respective fields / discipline but also there is a strong combo of ecommerce, payments, blockchain and crypto based experience. We have implemented motivations & loyalty based initiatives as well internally to ensure that our team members not only remain loyal to but also continue to proactively drive the project forward. Everyone on board is fully on board to make exeno a success!
Can you share your “SOCIAL’’ media links so we can keep Ourselves Updated??
Gosia | Exeno
Thank you for expressing interest in getting to know us better. Here are the links to our SoMe channels:
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