Recap AMA MXC x Vietnam Coin Market Community

15 min readDec 25, 2020

Hubert: Hello everyone,

Only 15 minutes left and the AMA event of MXC will be started

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and MXC’s representative is @simonzhu.

Translator: @nguyetvcm

Vietnam Coin Market Group (VCM) will be locked to make the event convenient.

After Segment 2 of the Vietnam Coin Market group will be opened a chat so that the community can ask the project.

How’s everything going?

Again, it’s been my greatest pleasure to announce today’s special AMA session

“MXC”

Today’s AMA session is composed of 3 parts:

✔️ Part 1 — Welcome

✔️ Part 2 — Q&A

✔️ Part 3 — Free — asking: the guests will choose about 10 good questions to answer.

Craving for the question rain ahead after I unmute the group.

Anyway, let’s get the curtain roll-up and welcome @simonzhu.

Please join the group: https://t.me/MXCETFCommunity

Simon: Hi everyone, my name’s Simon, leveraged ETF product manager of MXC. Great honor with you guys at this special night.

Hubert: Welcome Simon!

It’s a pleasure to all of you who participated in the AMA today.

Simon: Thanks, guys. Today we’ll talk about leveraged ETFs on MXC exchange.

Hubert: Could you briefly introduce about yourselves as well as your exchange?

Simon: Yes

Hi everyone, my name’s Simon, leveraged ETF product manager of MXC.

We rolls out leveraged ETF product because spot trading cannot meet the trading demand of a lot of risk-love traders. Quite a number of them seek exposure to higher leverages for both buying long and selling short for a underlying asset.

Leveraged ETF, with advantages of easy trading, no liquidation rules, compound interest, etc. are so welcomed by users ever since its launch. Soon it will mark its 2nd birthday, and remarkable progress it has achieved. Now MXC leveraged ETF trading volume ranks the top 3 list among all exchanges. It can be said that there’s long/short chances every day for over 80 leveraged ETF underlying assets.

As to mxc exchange, it is established in April 2018. MXC Exchange is one of the world’s leading digital-asset trading platforms which offers users one-stop services including spot, margin, leveraged ETF, derivatives trading and staking services.

The core members of the team come from world-class enterprises and financial companies, who have rich experience in blockchain and financial industries. We offer the most comprehensive marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks, and formulate their strategies to maximize gains and mitigate risks.

Hubert: How wonderful, sir. The VCM audience is also eager to study the MXC ETF Trading.

Looking forward to have our audiences to know more about the MXC ETF Trading and the views.

Let’s get to the first question we’d like to know from you: What is leveraged ETF?

Simon: Great. Leveraged ETF is, essentially, the shares of a leveraged fund that operated by managers in contract markets to ensure the product tracks the daily movement of the underlying assets (e.g. BTC) with given leverage times (3 times for instance).

Take BTC3L and BTC3S leveraged ETFs as an example. BTC3L means 3x leverage long for BTC, while BTC3S means 3x leverage short. Suppose BTC rises by 1% on Dec.25, correspondingly BTC3L will rise by 3% and BTC3S will drop by 3%, vice versa.

In simple, leveraged ETF allows users exposure to higher leverages for both longs and shorts of the underlying asset, so that users can utilize smaller fund to earn greater yield providing that the market direction is right.

Hubert: Wow that’s great. I see leverage like margins and futures.

Simon can you tell me and everyone: What are the advantages of leveraged ETFs?

Simon: Of course, first of all, leveraged ETFs are very easy to trade. Users can just login MXC website (www.mxc.com) and enter “ETF zone” to buy/sell the leveraged ETFs you are interested with like spot trading. There’s no such complex steps as opening margin account, transferring asset, making loan, repayment, etc. in margin trading.

Second, by adopting re-balance mechanism, there’s no liquidation for leveraged ETFs. Take BTC3L (3x leverage long for BTC) as an example. If BTC falls by 33%, the BTC 3x leverage long contract will be definitely liquidated, while with the existence of re-balance mechanism, there’s will be some BTC3L asset left.

Third, compound interest. Leveraged ETF will include the profit into the principal automatically. Specifically, if a user earn some profit by buying a leveraged ETF, the profit will be added into the principal automatically on the next day. This forms a compound interest mode.

Fourth, MXC supports leveraged ETFs for over 80 digital assets, not only top-market-cap coins like BTC, ETH, EOS, etc., but also DeFi, PolkProjects, platform tokens like YFI, COMP, DOT, KSM, BNB, OKB, MX, etc.

Users are able to find virtually every popular assets available for leveraged ETFs. What’s more, in addition to 3x leverage ETFs, MXC also supports 4x & 5x leverage ETFs for top-market-cap coins, like BTC, ETH, EOS, BCH, XRP, etc.

Last but not the least, Leveraged ETFs are especially suitable for one-directional market trend, like bull or bear market. For example, in recent XRP issues with SEC, investors are short for XRP. The XRP4S leveraged ETFs gains almost 100% in just one day.

Hubert: Pretty much information for everyone to access. I think: we should take a few minutes for the audience to read about this.

You can help people better understand:

What is leveraged ETF rebalance mechanism?

Simon: Good question. The leveraged ETF will perform the regular rebalance at 00:00 (UTC+8) daily to guarantee the agreed leverage times. However, when an asset’s daily percentage change exceeds 15%, the rebalance mechanism will be triggered for the losing ETFs.

For example, if BTC rises 15% on Nov.24, the BTC3S (3x leverage short for BTC) leveraged ETF will be rebalanced to avoid greater loss, while BTC3L will not. See the form below.

From the form we can see if BTC rises by 30%, BTC3L ETF gains 90%, while with rebalance mechanism in place, BTC3S drop by 66.52% instead of 90%.

Hubert: Great. With this mechanism I think it will reduce a lot of risks for traders.

Simon: Yes, its one of its special advantages.

Hubert: I think the problem that people usually care about is transaction fees:

What are the fees for leveraged ETFs?

Simon: Yeah, there will be trading fee and daily management fees. The trading fee rate is 0.2%, and the daily management fee varies with different leveraged ETFs. The management fee rate is usually 0.25~0.3% each leverage, which will only be charged at 00:00 (UTC+8) each day. If you do not have at the timepoint, no management fee will be charged.

Hubert: Yes. I think this is a good fee for the user.

What should users pay attention to when trading leveraged ETFs. What users shall be cautious of?

Simon: Yes, this is especially important. Though small fund may rake larger profit by using leveraged ETF tool, it also brings greater risks if the market goes against you.

Besides, please check the net value first before buying a leveraged ETF product. If the real-time price is much deviated from the net value, please be cautious of the risks.

Alongside that, the mechanism of leveraged ETFs make it not suitable for users to hold for a long period. The abrasion and daily management fee may make your long-term leveraged ETF position not profitable.

Another thing should keep in mind is that because of the rebalance mechanism, Leveraged ETFs is particularly suitable for one-direction market trend. It’s not suitable for choppy market.

Hubert: Thank you for helping everyone to understand and be more careful in the ETF trading process.

Can’t wait any longer: “Security is considered as one of the top priorities of any exchanges, how does MXC protect user’s information and ensure the asset security?”

Simon: Good question. MXC Exchange lays utmost importance on the protection of user’s asset security. It builds a comprehensive security protection system by the integration of top-notch security technology, experts in the cyber security field and an elaborately designed security protection mechanism.

In terms of technology, MXC Exchange adopted hot and cold wallets in asset storage, as well as three party signature mechanism for asset protection, making assets in MXC Exchange is as safe as in bank’s vault. It holds tight in user’s ID verification and emphasizes the protection of user’s privacy in case of asset loss from personal information leakage.
Alongside that, MXC Exchange was established by a group of experts from such world-class companies as Baidu, Shanda, etc. and we have a first-class security technological team. It also secured coordination with state-of-the-art security corporates on trading security, threat information report, asset protection, risk control, security consultation, digital-asset tracking, anti-money laundering, etc. Besides, the security team of MXC Exchange is able to monitor any abnormal trading in 7*24. It has created a defensive system that traps can be set on the route where hackers may pass by.

Alongside that, MXC Exchange was established by a group of experts from such world-class companies as Baidu, Shanda, etc. and we have a first-class security technological team. It also secured coordination with state-of-the-art security corporates on trading security, threat information report, asset protection, risk control, security consultation, digital-asset tracking, anti-money laundering, etc. Besides, the security team of MXC Exchange is able to monitor any abnormal trading in 7*24. It has created a defensive system that traps can be set on the route where hackers may pass by.

For users, users should pay attention to protect account information. Never leak your password, SMS code you any other, and do not click in any unknown links which may be the phishing website. Please change your password periodically.

Hubert: Thanks, Simon. I see a lot of information. Let’s take a few minutes for everyone to see it. :))

We will come to the last question in Q-A. What does MXC plan to do to attract more users in the upcoming time?

Simon: MXC always puts top priority on attracting more users.

Now over 400 million users choose MXC to trade over 350 different cryptocurrencies. The plan is easy.

example, over 80 coins first be listed on MXC, then on top exchanges like binance, coinbase, etc. See the pic. Users who bought these projects in the first time have all made nice profits.

Second, MXC will spare no effort in improving our products to offer better user experience. MXC products cover spot trading, margin trading, PoS staking, Index trading, Contract trading, as well as MX DeFi yield mining, M-Day, SpaceM programs, etc. Users can almost find any products that you want to trade for.

Third, MXC is one of the exchanges with largest bonus give away for users. Almost every week, there will be two or three activities for user to participate and super prizes giveaway.

Hubert: Yes, thanks Simon. MXC exchange is also a famous Top exchange. I think everyone has consulted about it before. MXC is always a good choice.

The last question is already done. Thank you @simonzhu for bringing the above useful information.

Simon: Thanks guys. hope the info. are useful for investment.

Hubert: Before going to the freeasking part: please join the ETF group of MXC here: https://t.me/MXCETFCommunity

Next, the Vietnam Coin Market team (VCM) will open a chat for the community to ask questions to the project. We will have 3 min to ask. The MXC will then choose 10 questions to answer.

Let’s go!

Now

Question 1. What are the types of users on your project?

How do you keep all users to stay with your project for the longterm?

Good question. MXC users spread all over the world, and Vietnam is one major user base of MXC, who contribute a large amount of trading volume per day.

MXC is always trying to be the swiftest exchange to list quality projects aross the world. Enabling users to earn money is our key of success. Besides, our team can be said is the most hard working team, who are 24*7 online.

Alongside that, MXC continues to upgrade and launch our product line. Now we supporting over 350 spot trading pairs, 100 margin pairs , as well as over 100 leveraged ETF tag pairs.

we also support contract trading, which now rank in top 10 list in coingeko in trading volume. There also Index trading, which track a basket of assets. PoS Pool is also welcomed by so many users.

All in all, we are listing quality project, upgrade our products, and launch new hot prouducts to attract more users, so to be success in the feirce competition of cryto world.

Question 2. How was the project affected by the Covid 19 outbreak? Did it lead to a change in your roadmap?

I’d like to answer this good question.

Covid 19 indeed brougt huges changes to us all, in social communication, work style, daily life habits, and so on. Especially, more people are working home. This actually good for crypto development.

More fiat are issuing coz of Covid 19, this obviously will cause inflation. our money will devaluate for certain. Under the backdrop, BTC, ETH, are the safe base to keep value. more people will swarm into cryptos. I think BTC to 50,000$ has great possibility. That’s all.

Question 3. Very few new DeFi projects are quickly listed on MXC, but why really? is it to check the reliability and authenticity of the projects? or because it is not very attractive to users?

We indeed list a lot DeFi projects, but that’s does not mean we list everything. Our project reaserch academy alway keeps eyes on newly born projects, which has great potential, which has tech advantages, etc. ..

Over 80 coins first listed on MXC, then on other major exchanges around the world is the justifiable evidence of it.

Question 4. Who are your most effective investor and users? How do you generate revenue to sustain the project? What are your goals to the end of 2020 and beyond?

Have to say Vietnam users on MXC is one of the most effective investors, who always has sensitive probe for fortune.

At the end of 2020, under the backdrop of BTC to New ATH, we will continue to commited to provide the best user services in 2021. Users are the base of all exchanges. We will bring more bonuses and fortune chances.

Question 5. Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?

Yes Ambassadors roles are indeed very important to let our outstanding products be known to more users.

Now we are recruiting contract ambassors with basic salary each month and grand prizes giveway if trading volume reaches required amount. Welcome to join our group for the details.

Question 6. While you build your project, do you take into account community feedbacks and demands?

Good question. our priciple is “User first”. We alway remain committed to protecting user interest. Any feedbacks or sugesstion will be given utmost importance. We will try any method to solve user’s problems and improve our products. And if you meet any issues in using our products, plz feel free to contact our online support, who are online 24*7. Thanks.

Question 7. What can we expect to see from etf in the short-term (at some point in 2020) and 2021 and beyond (long-term goals)?

Very good question. Leveraged ETF is designed for users to catch the bull/bear trend of the market. At the current moment,in the bulish trend, over 80 leveraged ETFs assets really offer users great chances to earn a fortune.

For example, XRP4L today rose by over 140% in a single day. See the pic.

Really great products to catch the trend of coin you are tracking with.

Question 8. What are some of the major achievements that your project has achieved and what milestones are planned in the upcoming months/years?

I’d like to answer this one. In just 1 and half year, mxc leveraged ETF trading volume now wrestling the first place with Binance. Really great achievement has been made. See the volume rank by third-party analysis below:

The trading volume of MXC leveraged ETFs takes a lion share among all exchanges in the world.

Welcome to experience MXC leveraged ETF to enjoy best liquidity.

Question 9. I have seen that you have done many AMAs, my question is, what do you expect to get from so many AMAs and what are your goals with the community? Do you consider the community to be a fundamental role in the project?

Good question. Doing AMA’s purpose is to let more users be aware of our good projects, to let users know there’s another tool to earn profit. This is great both for our exchange and for users. AMA is of courage a good way to communicate with users. For instance, through this AMA, you must have better understanding of our leveraged ETF products. 🥴

Question 10. Why has MXC restricted withdrawals of some crypto?

Most of them are because of wallet upgrade, or supporting fork of the projects. we will enable the deposit and withdrawal service once the upgrade complete. if any issue, you can freely contact our online support. they will try their best to help you out.

Question 11. In the world cryptocurrency competition, features are of the utmost importance to attract investors and the community! Can you provide a list of killer features that scare your competitors over your project?

haha, killer feature of leveraged ETFs are, I think, 1, easy to buy/sell, 2. compound interest, 3, no liquidation rules. for more, plz visit mxc.com to view more.

Question 12. Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?

we rolles out leveraged ETF to meet the trading demand of more users. Some users are more risk tolerable, but contract is too risky coz too high the leverage. But ETF’s no liquidation rule and low leverage is really good. So ETF is designed for this part of users, who want to chase a short-term profit with greater volitility.

Simon: Nice. so many questions. thanks for your curious about MXC leveraged ETFs. Thanks for your attendance.

Hubert: Thank you Simon for answering the great questions of the VCM audience.

So the AMA MXC at Vietnam Coin Market (VCM) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the MXC. I am the moderator today. Congratulations to the MXC.

Thanks @simonzhu for joining AMA with the VCM community today. Wish you much health and success.

Again, don’t forget to join the MXC community for further assistance. Thanks everyone.

https://t.me/MXCETFCommunity

VCM Community will open the chat and we will have a trading event at MXC.

🔊 MXC x Vietnam Coin Market community ETF Christmas day exclusive campaign

🕐 Campaign period: 00:00 Dec. 26, 2020–24:00 Dec. 29, 2020 (UTC+8)

This event is only available to members of Vietnam Coin Market community. Submit the form to participate in the event, trade any ETF product and meet the relevant ranking and trading volume requirements to share 5,000 USDT rewards.

1️⃣ Top Trader:

Top 1: $500 (Vol > $100K)

Top 2: $300 (Vol > $70K)

Top 3: $200 (Vol > $50K)

Top 4–10: $100 (Vol > $20K)

2️⃣ Users who trade any ETF product with cumulative trading volume no less than 500 USDT are eligible to share 3,000 USDT proportionally according to the trading volume.

3️⃣ The first 100 users to submit the form with trading volume no less than 500 USDT could get an extra 3USDT bonus.

⚡️ Note:

- Join: https://t.me/MXCETFCommunity.

- Some rule information see more here: https://t.me/chocoin_VN/1480635

- Create a new MXC account here: https://www.mxc.com/auth/signup?inviteCode=12wSB

- Registration form: http://mxcfutures.mikecrm.com/xVwatgg?zarsrc=1303&utm_source=zalo&utm_medium=zalo&utm_campaign=zalo

VIETNAM COIN MARKET COMMUNITY INFORMATION:

Website: http://vcmcommunity.online

Medium: https://chocoin-vn.medium.com

Youtube: https://www.youtube.com/c/vietnamcoinmarket

Twitter: http://twitter.com/chocoin_VN

Facebook: http://facebook.com/chocoinVN