On 9th December, Shin Chan community host a public AMA with Graham Doggart the founder & Co-CEO of Aubit to answer the question from the community.
Intro
The AMA session started with a brief introduction to our founder and Graham Doggart.
Here is how it went–
Shin Chan Host — Thanks for joining. To begin with, please tell us a few words about yourselves and how did you get to be involved in AuBit & Freeway
Graham Doggart— AuBit is a ground-breaking new asset management platform that ‘networks’ the world’s top financial products like gold, stocks, bonds, and crypto for greater potential returns with no extra risk.
We do this by reducing operational costs down to the point where 80% of the fees can be redistributed back to users, Massive amounts of fees leak out of the traditional finance system.
We make sure our prices are competitive and redistribute them back to the ecosystem. This works MUCH better than just reducing fees. As it creates network effects, all of the big techs became mega unicorns because of network effects.
Freeway Tokens are the native utility token of the system. They provide discounted service fees and preferential benefits for those staking FWT in the system. AuBit works to bridge the old world of asset management with the new world of digital finance.
Providing retail users with much better-performing options and institutional-grade systems for traditional investors.
What this means is that for the first time, users that hold any assets in the AuBit Freeway platform see their assets grow over time. We are used to accounts where the amount of assets stays the same, it’s static with AuBit, the asset volume is always growing. Whether that is bitcoins, gold bullion, Tesla shares, any asset really.
AuBit’s World-Class Management and Advisor Team have worked at some of the largest financial and technology companies in the world including Goldman Sachs, Fidelity, HSBC, Credit Suisse, Morgan Stanley, IBM, Google, and The Prudential.
Freeway Tokens are native to the Freeway platform. Available on Bithumb Global & Uniswap, they are designed to fuel AuBit Network growth by offering Freeway users large discounts on trading and service fees. Pre-Staking is also coming very soon.
AuBit already has an institutional interest and announced a 400,000,000 Freeway Token investment worth US$3.2m by GreenBank portfolio company.
So as an example:
If you hold an AuBit-networked gold product, every time anyone else, anywhere in the world trades that gold product, the amount of gold you own increases. You could, hypothetically, begin with one ounce of gold and, over time, own two. This means that, as users invest, they not only benefit themselves but every other user on the platform, too — so they grow their capital together.
AMA begin
Q1: Currently most investors only care about profits the moment but ignore the long-term benefits. So can you give them some advice on why they should buy and hold this token/coin in the long term?
We have built FWT for use. This means that users get much more benefit from spending their FWT on the platform or staking it on the platform than they would be selling it for quick swings in price.
FWT opens the door to much more value on the AuBit Freeway Platform than it’s value in just trading in and out.
Q2: Vast majority of Crypto projects are built just for the sole purpose of amassing wealth for themselves. So, I want to know the value you aim to add to the crypto industry that will bring greater abundance to the industry?
Our project is a bridge from the old world of finance with its massive liquidity and wealth to the new world of digital and decentralized finance. AuBitised products work quite similarly to common crypto staking, as there are rewards in the same asset for holding those assets.
Our platform will bring lots of traditional investment value to the crypto space as users will get greater risk-adjusted total returns with the same asset exposure than their traditional methods.
If they are exposed to US stocks or bonds, they will get better performance on those stocks and bonds with AuBit, and even better performance if they pay their fees and stake FWT alongside them. Same for gold. For those looking to get into crypto, we provide institutional grade processes opening up crypto to many more institutional investors than can currently participate.
Q3: What is the focus of AuBit’s work after this year?
Launching the full platform to everyone with our AuBit-network-enhanced additional growth factors, getting our FWT-staker-only product launched (they are also completely game-changing 😉 ), integrating our products with major trading platforms, both traditional and digital.
Q4: What are your future capital raising plans or long term sustainable business model?
AuBit has raised money in the past 3 years through its equity token, AuBit One. This will continue in the future. We launched Freeway and FWT just 2 months ago, and have a big community already.
AuBit is actually a revenue-positive company from the outset, it makes money by taking 20% of fees as revenue, leaving the other 80% to be redistributed as per the network effects described. We also have a compelling referral rewards program that will encourage a lot of organic growth.
AuBit also makes money with its active products and its FWT-staker-only products, these are actively managed within the AuBit Group of companies and thus we have significant additional exposure to our most unique and high-yielding products.
We fully expect to manage the operations of AuBit just from the yields on participating in our own AuBitised product reserves.
Q5: How does the AuBit team plan to continue promoting the adoption of their technology? For the vast majority of users, it can be difficult to understand and use.
This comes down to a great referral program, easy to use app that shows all the additional growth in real-time, you will literally be able to watch your assets grow, growth that you could not see anywhere else.
Finally, we plan to use video a great deal in educating users on how it all works and how to best use the platform for the best results.
A whole aspect of the system that redistributes the fees, the AuBit Edge Protocol, is not just network-enhanced, but also gamified, where users can learn to stake, choose products, and do key user activities that mean the users see preferential redistributions, and even more growth as a result.
Q6: In the field of crypto, it’s very hard for projects to generates revenue/profits, some projects have a 10% dev share(10% from transaction fees taken by the project..), can you explain to us in what way that your projects create revenue/profits?
For the vast majority of the products on the AuBit platform, we only take revenues from the additional growth generated as a result of the AuBit Edge Protocol.
This means we take 20% of that growth as revenue to run the platform, while the other 80% is distributed across the users. On our AuBitised assets, like shares, bonds, commodities, crypto, the performance of your assets is all yours to keep! This is a big shift away from the high fee models of traditional finance and early crypto where 6–10% fees for services are very common
Q7: What are the ways that generate profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both Investors and your project?
AuBit has a purely aligned model, we spent a lot of time developing a much more aligned model than traditional shareholder and customer models and really any service provider models.
The platform only takes fees from additional growth it produces that is not available from anywhere else and on products we build within the AuBit Network that are not available anywhere else.
Also, all revenues are only paid when there is growth and the majority is taken in the products themselves. Everything is purely aligned
Q8: As a community-based project, how can I donate my quota for your success? Do you have a Global Ambassador Program or a Referral Rewards System?
Yes, there are several opportunities for the community to get involved and benefit from bringing AuBit to the world.
Join our telegram group to get the details of the Ambassador Program that is to bring the word of AuBit and FWT to the world before the platform launching.
As the platform launches, there is a full referral rewards system for both referring users and platforms listing AuBit products for their user bases directly.
Our referral rewards are awesome because they are ongoing and based on a percentage proportional to the additional growth benefits of the referred users. It is not paid out of user revenue! This again forms part of the purely aligned revenue models, even referrers only benefit when their referred users see additional AuBit benefit!
Q9: What inspired the creation of Aubit Project, is it actually difficult to start it? Which companies do you think are potential partners, and to a certain extent, they are good for the user base and Aubit Project itself?
Potential partners for us are those that bring users to the Freeway platform and trading volume to AuBit products.
This includes all trading venues that have plenty of trading volume around the world.
In addition to that, bringing large communities into the ecosystem is very important for our future growth.
One of the network enhanced elements of the system is the Freeway Tribes functionality. This encourages and rewards rapid growth within groups and communities within the overall AuBit Network. So if a group of traders comes to the platform, for example, they can concentrate some of the network effect growth they are generating by growing quickly and using the system a lot amongst themselves, for great, faster additional gains on the AuBit Platform, whilst also tapping into and contributing to the overall network effects.
Q10: What key advantages does AuBit have with blockchain technology than traditional exchanges for buying precious metals? What is the role and function of the blockchain on the AuBit platform?
Precious metals are a great example that benefits from AuBitisation.
Metals normally come with a cost of storage and no yield.
Well AuBitised gold, silver, platinum, uranium all grow in volume, literally growing in gold weight over time.
For any gold bugs, this is the holy grail, gold that grows in gold over time. And it also opens the door to investors that did not previously invest in gold (which is a pretty safe asset compared to many) because there was no yield. Now they can just sell a bit of the gold growth for their yield.
Additionally, we have active products in the metal resourcing side of things. Our first active product planned is a Gold Streaming product that produces high yields at low risk in the gold mining sector. Active products work more like company shares in pricing, and thus have the biggest upsides and have the biggest opportunities for network effects to take hold for additional gains.
Q11: There are already Many Platform are available which are very similar To Aubit Project. So, Explain What makes you better than any other Similar Platform?
We have two big USPs, additional risk-adjusted returns not available anywhere else on the same assets, and a system that is accessible for all, both institutional-grade for traditional investors and full utility token variants for retail users in 180+ countries.
Everyone gets to join in, keeping the assets and funds segregated and compliant while combining the network effect growth benefits for everyone.
Q12: In traditional asset management, only the price of the asset varies, the volume of assets in your account remains unchanged. With the Aubit model, the asset volume of the user account grows over time? How do you achieve this?
This comes down to redistributing our fee revenues, 80% goes back to the underlying assets, making your assets grow over time.
So much money comes out of the system to pay service providers, intermediaries, and operating costs in the traditional markets and early crypto service providers, we minimize the costs and keep the fees competitive, but get to redistribute 80% of the fees back to the community in the underlying assets of the products they hold.
The whole system is gamified to encourage the use of the system, both in terms of using FWT for discounted fees, staking FWT in the system to generate even more additional returns, and rewarding users for being active within the system and referring and being part of the referral groups.
In fact, our referral system is pretty game-changing in its own right as it creates referral tribes within the ecosystem, there are no unfair systems, just a single level of direct referral activity rewards as well as referral group rewards.
Q13: I find Aubit’s vision, solution, and mission to be amazing. But that is in theory, and in fact, is a different story. For Aubit to be as realistic as you say it needs a strong, experienced team. So can you recommend your team (Founders, R&D, Developers, etc…)?
We have an amazing team across traditional finance and tech and a big team of developers getting the platform ready for the beta launch in Q1 2021.
You can check out the website at https://aubit.io and https://freewaytoken.io for much more details on the team.
We have been very lucky to have a first-class team who have worked at almost every big finance company and many of our team have had a lot of experience in the big companies and scale-ups
Q14: I know people will be incentivized to hold FWT for certain benefits on the platform. Can you shed some light on how many FWT we should be held to maximize the benefits? Or are those numbers not available quite yet?
FWT works best when you use it. That means that you pay your Freeway trading and service fees with it and you stake enough FWT to get full advantage of the best network effects and gamification. The amount you hold is part of your staking score which provides user account weighting for redistribution benefits. This is calculated based on the amount of AUM you have in your account and the amount of AUM you have in each product compared to the amount of FWT you have staked. The bigger the account, the more FWT you need.
This is why institutions and other power users will have such demand for FWT, it has huge genuine utility both for using as a means of service and trading fee payment but also staking it opens up maximum gains on the platform.
Q15: What are the memorable milestones and outstanding achievements you have made in the development process?
Getting our corporate structures and legal opinions finalized for #accessforall was a major step for us.
We really have a game0changing infrastructure that is not just friendly for institutions and traditional investors, but really really clever allowing retail users in too. This, alongside the network-effect model and gamification system, is our proudest achievement to date.
Of course, having a solid and incredibly active and loyal community so fast after coming out of stealth (we first mentioned AuBit in late September this year and have only done organic mentions and no real marketing as yet).
Do join us at https://t.me/AuBit_Official_Community
Q16: What was your Motivation to build Your Project?
and what are your vision and mission now?
With AuBit we wanted a way for everyone to be able to participate in a better asset management model for capital markets.
Everyone in the world deserves a way to not only get a stable store of value but an opportunity to participate in the world’s economic growth.
AuBit has been designed so that anyone with internet and a device can see benefits from as little as $1 and they get the same opportunities percentage-wise as someone putting in $100 million.
That was the biggest motivator for us, give everyone a chance for the better.
Q17: Could you give me the 3 best features to convince me and other investors to invest in $FWT in the long-term?
A huge potential project with AuBit, it is a paradigm shift in asset management on a par with the index fund and passive investing ($11m in index funds in 1973, $trillions in index funds in 2020)
Genuine and pure utility in the FWT on the platform, users need to use and hold FWT to get the best benefits, who doesn’t want to maximize their risk-adjusted total returns on their favorite asset classes?
You are in super early! FWT has a low microcap and is not even in the top 500 projects by market cap. As we launch, get traction, prove results, and then give institutions comfort, AuBit will become something else entirely!
Q18: How How can I profit on the AuBit Freeway platform from my Altcoins and Defi Tokens?
We will keep adding different assets to the platform, all supported alts and Defi can be AuBitised, and grow even more with the AuBit model.
We also have features coming where these can be deployed to various other leverage opportunities such as collateralized lending platforms, yield farms (not unsustainable meme ones), etc.
Q19: As we know Scalability is a major problem in most Blockchains & Dapps. So, How Your Project solves Scalability problems and allows Dapps great scalability?
We use a hybrid model of centralized and decentralized systems.
AuBit Products are where the magic happens, so we have built a full integration system with API gateways to list our products on other trading venues where other platform user bases are. We incentivize the platform with ongoing revenues from the additional growth for the platform owners themselves as well as their users.
We also have APIs into the platform where platforms and communities can bring their user's direct access to products on the Freeway Platform.
Our systems have been refined for scalability and elasticity, we are chain agnostic too, so other protocols can list our products.
Our own DLT for example has been tested at 250,000 transactions per second, so we are ready for scale that is for sure!
Q20: Why can we be sure that digital gold on AuBit is indeed backed by real gold? Are there independent custodians and auditors at AuBit?
We keep things simple here, we don’t reinvent already perfectly working wheels.
We actually will provide several options for users for our gold product so they can pick the gold product they are comfortable with.
some users will be comfortable with JP Morgan gold guaranteed on paper, others will want their gold held in vaults with Brinks. Our gold product will have options so that users can choose which gold provider they want and pay any pass-through fees. We then combine the network effects to have everyone’s gold as they want it, grow in gold weight over time.
There are several ETFs for example that do the job differently and each user can pick the one that works for them.
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