Thank you to the Infinity Chain Club for participating in Ask Me Anything (AMA) with MONICOIN on December 23, 2020. This guest star,

Amgalan Bat — CTO and Co Founder

Introduction

Amgalan [I do NOT PM],

My name is Amgalan Bat. I am a 47yrs & a Mongolian. I am the Co-founding CTO of @monicointoken. I am lucky as well to find myself in the banking sect & is a proud DeFi expert with years of study and experience.

Q1. Starting with the very basics, can you provide a simple description MONICOIN for our Community? How did you get idea create MONICOIN?

Amgalan [I do NOT PM],
Amazing question.

MONIcoin is a utility investment & lending asset developed by MONI Capital located at 9128 Doe Cape Apt. 677 New NC 45779–3690 Mongolia Khovd, 84011 MN.

The objective of our BETA product is to provide a true store of value for holders, investors & capitalists alike to invest within our platform as well as on other well established yield farms.

MONI capital, being our underlying parent company prides itself also as a lending firm who will enable partner corporations & individuals lend crypto securely via our network with ease.

Q2. Can you tell us about the advantages of MONICOIN using Liquidity Protocol Matrix? How is MONICOIN better than other platforms?

Amgalan [I do NOT PM],
LPM derives a shared liquidity from our established Asset protocol, Lending protocol & finally the conventional liquidity protocol which other projects in this space utilize alone.

The advantages of LPMs are numerous & infact keeps any project that opts for it ahead through a shared liquidity system.

In a short summary;

1. The Asset protocol component defines the foundational tokenization of digital assets (USDT, USDx) & physical assets (automobile insurance, supplychains & others) respectively. These ensure a constant money flow to our network.
2. Lending protocol which houses doles of constant investments from institutional partners for lending & profit generation.

& lastly 3, The regular conventional liquidity protocol as you know it. These entails the on-set swap feature represented by our MVP: MONIswap. Which specifically enables the decentralized exchange of token ownership alias governance.

With relation to 2). Lending protocol, we are also able to profit from being hedge funds through absorption of crypto tends which we give as loan with a repayment schedule & of course profits. Additionally, through fees generated on MONIswap financing is more less as insured as possible.

Q3. About $MONI, can you explain about the tokenomics and what is the real utility of $MONI in your ecosystem?

Amgalan [I do NOT PM],
MONI is a finite minted asset. Which means it cannot be further minted (upload our smart contract audit report as proof). Truely MONI captures value first of all by the amount of coins which will circulate for a period of 3yrs at a time.

With a total supply of 111,111 & a circulating supply capped at 55,555, we aim for a marketcap that will not surpass $2,800,000 at a go. MONI serves as a right of governance our upcoming MONIswap and also symbolizes a utility in large scale lending & staking which our company conducts in USDT as one pf the comprising elements of our LPM mode. By this the real-life utility we are offering through MONI, we strongly believe that value hits the MONI asset in no time & holders/governors can benefit from this value shoot with an understanding that MONI has a key part to play in investing, yieldfarming & lending respectively.

Q4. Can you tell us about MONISWAP, when can we expect it to be released? What are the features and advantages?

Amgalan [I do NOT PM],
As much as I would like to treat this question immediately, I choose to delay the answer just a bit, as it might be revealing a company secret before launch.

However I can give a little insight. MONIswap will stand ahead as Mongolia’s first trusted DeFi service with not a single competition. Here in Mongolia, Crypto is pretty & now going mainstream because our government has its eyes opened [ https://www.forbes.com/sites/yoavvilner/2019/01/11/mongolia-starts-off-2019-with-its-eyes-on-crypto-payment-adoption/?sh=53b216654361]. This exact reason lead us to establish MONIcoin in 2019, though the launch delayed to establish our major certifications from the government. I can tell you for sure that what we are building will encompass what you have experienced on JustSWAP & UNIswap combined AND with an extra.

Q5. What are the major milestones MONICOIN achieved so far & what are in future pipeline?

Amgalan [I do NOT PM],
MONIcoin is a quite planned project. We will NOT rush it & risk investor funds. Our proceedings in development will launch off right after our planned internal Public sale coming up in about 2 weeks from now.

Our first product in view is MONIswap, to take advantage of the current spotlight which we stand in. The planned launch is March 2021, followed by the full establishment of our lending market, something like coinloan.io

TWITTER QUESTIONS

Q1. Monicoin officially launched its DeFi services in Binance Smart Chain. Why choose BSC to do this? How will this network facilitate the generation of liquidity mining?

Amgalan [I do NOT PM],
We chose the BEP20 chain for so many good reasons. Firstly, to stand out. Secondly to gain easier entry to listing on Binance & lastly for the transaction fee system.

Transferring BNB or BSc chain tokens (otherwise BEP20) is lightening fast, it takes less than 30 seconds & more importantly, the fee is almost insignificant.

Considering that our network will be likely busy most of the time, we needed a chain that will facilitate this with very low transaction cost incurred by investors or holders. In the future, we will launch MONI blockchain & surely take the bulk of the traffic away from BEP20, making it’s much more easier to interact with our Asset & cure a huge wound with relation to liquidity mining through the almost natural LPM model.

Q2. MONI claimed”MONI will connect different companies in our ecosystem to reach a mutually beneficial lending & investment partnership which will also incentivizes the end consumers”.How has MONI benefited from the partnership?What’s the incentive for customers?

Amgalan [I do NOT PM],
Smart Question. Havent bumped into this kind in a while. As MONI Capital, we have access to lending & investment firms who can now lend in a crypto — centrically manner through us for a much lower 8% repayment fee. With a larger pool, our ecosystem is able to generate profits faster for our partners. This is where we spoke about the lending protocol aspect of LPM. It makes up a huge percent of our operational model with contributes to a much strengthened shared liquidity.

Incentives for customers is that holders do not even need to be long term holders in order to profit from our ecosystem.

We think so, because we are going to list on Binance as our first market & conduct a Buyback for half of what was sold during presale. Holders who want to sell MONI can do so then & take some profits. We have some support from VCs who want to participate in lending via our ecosystem. This provides us with enough funding to keep liquidity at the maximum for quite a while.

As usual, Longterm holder will benefit more from holding, because we expect a price shoot after that buyback.

Q3. During pre sale any investors are restricted to buy $Moni tokens? how the token pre sale take place and where? what will you do with the remaining unsold tokens if any?

Amgalan [I do NOT PM],
Yes! With regards to continental restrictions, I am afraid to mention that Members of the US community will not be able to buy MONI.

With regards to amount, no investor is able to purchase more than 1,000. Because based on the circulating supply of 55,555 MONI, we want the limit as much monopoly of MONI coin as possible. That means that during INO: coming up on the 1st of January (Anglo New Year’s); investors can purchase 0.2 MONI, 0.5, 1, 3, a hundred & so on. But not more than a 1000.

Though I havent mentioned this in past AMAs, as it was still being deliberated on. If there are unsold tokens, we will likely burn them from the 15,000 MONI available for the INO.

I think you can see more on our website.

Q4. Community is a symbolic price. When prices go up, people rejoice. but when the price drops, many people start throwing it away negatively. How did you solve this problem? What plans is the MoniCoin team taking to build a community so that more people see product than the price?

Amgalan [I do NOT PM],
This is an amazing question. Before I move forward, I should say that this is not any form of financial advice. But MONI will not be going below the INO price of $25.

Price aside, MONI will serve as a symbol of governance rights on MONIswap & holders will be able to have sustainable voting rights for project scalability. MONIswap will be something better characterized with lesser gas costs & real time utility in DeFi.

Q5. Safety and security are always the most important issues. How will the team resolve if there is an unfortunate security problem on the MoniCoin ( $MONI )? Has the team thought of a workaround for this problem?

Amgalan [I do NOT PM],
Fortunately, we have had our Binance smart contract audited. We thought it the most vital way to start off MONI project.

I should get that uploaded. Give me a minute.

Our smart contract was verified for security threats & bugs, so we hope not to be experiencing any security challenges anytime soon🚀

https://t.me/Infinity_Chain/176268
[ File : MONI_audit.pdf ]
Smart Contract Audit report awaiting review by BSC Binance

TELEGRAM QUESTIONS

Q1. @HTaraca

Are you going to launch a mobile wallet or app for your project in near future? Because recently mobile phone is the greatest and simplest way to reach crypto?

Amgalan [I do NOT PM],
Hi Htaraca. Thanks for your questions. Yes we will launch an app while launching MONIswap. Like we said before, MONI swap will not be just a yield farm, it will be kind of different & a bit more logical to interact with. Our UI will be more a less a bit more unique.

Q2. @Abdullah_Alabi

Why do you plan to launch MONI blockchain? Do you think the current users of MONI would prefer that to BEP20?

Amgalan [I do NOT PM],
Hi Abdallah, the launch of MONI blockchain is aimed at achieving a completely feeless procedure. A feeless procedure will make MONI one of the most liquid assets in the world, years or months to come.

By choosing to launch on the BSC Chain, we have achieved just a quarter of the success. Our own chain will complete the circle.

Q3. @hatakedeyseven

Many projects are in a hurry to release products with serious errors in the smart contract. Have you performed audits by third parties? Do you think the your system is safe enough against hacks and hacker attacks?

Amgalan [I do NOT PM],

https://t.me/Infinity_Chain/176268
HI wann, yes we have. See above.

Q4. @toanphamhd

What is the core feature that creates the value of Your project? Can you tell some lights from them?

Amgalan [I do NOT PM],
Hi David, amazing question.

Your answer is the LPM. Take a look at the image attached.

Liquidity Protocol Matrix comprises three distinct protocols.

1. The Asset protocol component defines the foundational tokenization of digital assets (USDT, USDx) & physical assets (automobile insurance, supplychains & others) respectively. These ensure a constant money flow to our network.

2. Lending protocol which houses doles of constant investments from institutional partners for lending & profit generation.

& lastly 3, The regular conventional liquidity protocol as you know it. These entails the on-set swap feature represented by our MVP: MONIswap. Which specifically enables the decentralized exchange of token ownership alias governance.

The combination of these three protocols makes up LPM models. As you may have already known, MONI is developed by our company MONI Capital;, a lending & investment solutions provider. This puts us ahead as a DeFI project who will use the LPM model to keep liquidity almost constant.

Q5. @NIKETEA

While you build your project, do you take into account community feedbacks and demands?

Amgalan [I do NOT PM],
HI Niketta. Smart one there.

MONI holders are able to contribute towards decision making processes as related to scalability & sustainability otherwise termed as “governance rights”

In other words, we take account of what community members are suggesting through votes. Only holders are eligible to determine.

Thank you for trusting Infinity Chain Club as the organizer of the event today, hopefully everyone can understand about MONICOIN.

Join our Telegram Group and you can talk directly with other Communities and enjoy some of the events that we created. We are always here to support.

Infinity Chain | Group about Crypto news, Education, Believers & Knowledge about different Projects | Always #DYOR