TROY AMA Summary-08/29/2019 – TROY TRADE
At the beginning，Kira introduced TROY：
Really appreciate this opportunity to share what we are doing. Troy Trade, derived from decentralized trading and settlement blockchain network-Troy Network, is a global prime broker specialized in crypto asset trading. We provide crypto brokerage services for institutional-grade capital and professional traders with revolutionary trading products, aiming to realize the efficient circulation of cryptocurrencies globally.
Then，it’s time for the official question：
Q1：Looking at the white paper on the Troy Network, I can see that it’s the coin I expect. (Amazing business structure and platform) But since Troy Coin is simply supposed to play the GAS role in payments and transactions, please let me know why you should buy TROY. (TROY Coin, where to use it, etc.) What else can you do besides GAS?
A1：Troy Token (TROY) powers the Troy Ecosystem. As the native coin, TROY has multiple use cases.
— 1. Within the TROY prime broker ecosystem, TROY could be used to pay for trading fees and discount on margin lending interests and other services.
— 2. Moreover, TROY will be appreciated due to certain periodic burning events, TROY will use part of revenue to buyback and burn Troy tokens from the market on a transparent and regular basis.
— 3. Most importantly, TROY will be used for incentives in the ecosystem. We will use TROY token as mining rewards if you join our network and refer more users to register or trade on TROY.
Q2：TROY’s looking for ‘a platform to broker’ an exchange. Of course, there is a limit that the broker cannot support all the functions of the exchange. As TROY grows, it also must absorb new trading features from individual exchanges. But if that is difficult, there is likely to be less and less reason for investors to use TROY. (Some users want to use all the functions of the exchange.)
A2：TROY is not a competitor of exchanges. On the contrary, TROY would help exchanges serve institutional clients better.
As a prime broker, TROY and exchanges are playing different roles in the industrial chain. Due to different operation strategies, each exchange has unique strategic focus and naturally can’t meet the diversified need of single investor. Exchanges are enthusiastic about collaborating with TROY because TROY will not only contribute significant asset custody, liquidity and trading volume to exchanges, but deliver more profitable opportunities including margin lending and asset management.
Q3：Can multiple exchanges be used on TROY’s platform? Does that mean I don’t need to join multiple exchanges and I don’t need to KYC?
A3：Yes. TROY has got access to 500+ cryptocurrency trading pairs over top 30 crypto exchanges. You could create one account on Troy Trade and get access to cross-change liquidity & settlement all within one account.
TROY has reached agreements with top exchanges on an unified KYC standard and template. It makes sure our clients only have to go through KYC process once on TROY.
Q4：All roads lead to Rome. In this sense, exchanges around the world will have to go through the Troy Network in the future. I’m curious that if any token is swapped to a specific chain, it will be swap supported on exchange A and not on exchange B. Do coins in Troy Network wallets exist without mixing?
A4：TROY project is the combination of Troy Trade (centralized trading platform) and Troy Network (decentralized settlement network protocol). Troy Trade will be the first application on the protocol. You could choose to trade on Troy Trade or explore other trading features on Troy Network.
The Troy Network will manage multiple accounts on different blockchains. In trading process, tokens have no need to swap to a specific chain. They will be stored on their own chains, but the trading and settlement will be processed on the Troy Network.
Q5：I was told there might be no IEO. really don’t you have plan for IEO?what is the sales plan and listing day?
A5：We have closed the private sale round of fundraising of $8.4 million. BlockVC, NGC Ventures, Signum, Consensus Lab, Bixin Invest, Alpha Coin, GBIC and a series of well-known blockchain investment firms around the globe have invested in TROY.
TROY is actively considering all options towards listing plan. TROY is open to all suggestions and recommendations from our exchange partners. We want to make sure the listing plan is aligned with the interest of investors and communities no matter it is IEO or direct listing.
Q6：It’s amazing that you can access all exchanges with one account. But I do not understand exactly what you mean. For example, if User A, who has accounts on Finance and Kucoin exchanges, connects to the Troy Network, can they trade directly without logging in?
A6：Users could complete cross-exchange trading and settlement by TROY’s advanced account management system. Troy Trade has created corporate-level settlement account on each exchange. TROY will create dummy accounts on each exchange for you (each user) within our corporate settlement account. You don’t have to connect your own account to TROY.
Q7：While watching the Troy Network, I thought it was cool. If the price of exchange A is 100 and the price of exchange B is 150, it seems that it can be purchased on exchange A and sold on exchange B. Is this true?
A7：As a prime broker, Troy Trade has integrated liquidity from Top30 crypto exchanges on our platform. Our clients could open one account on Troy Trade and share this pooled liquidity and market depth. Your orders will be automatically executed by smart routing and order split features at the best price and speed on different exchanges for you. It means that the price you get will be the best price across the entire market. So the space for arbitrage will be eliminated by our system on behalf of users.
Q8：Who’s gonna get revenues of exchange’s own trading volume competition after trading on Troy Trade? (Every exchange has their own trading volume event)
A8：If TROY supports the trading volume competition, users could get exact revenues according to the rules of exchange. We could calculate users’ revenue sophistically.
Q9：Is this a platform for professional traders? What is the effect that ordinary investors who are not trading experts can feel from using the TROY platform?
A9：We are targeting our clients to institutional investors and professional traders including hedge funds, quant asset management teams, HNWs and family offices. TROY offers 2B and B2B2C services. We won’t have direct engagement with retail investors but we welcome retail users to trade on our platform through our sub-level introducing brokers. Introducing brokers like some media, communities or terminals could provide customized services to retail users based on the TROY platform. It would be like a SaaS service.
For retail users, TROY could also meet your complex trading needs including competitive pricing, speed, size, diversity of products and instruments and advanced trading tools. With the help of TROY, investors can focus only on decision-making and leave everything else behind.
Q10：Who is TROY’s top competitor? What are the strengths of the project to overcome its competitors? What is the biggest obstacle of the project? What did you do to overcome that obstacle?
A10：Caspian and Tagomi could be regarded as potential competitors. They are similar to TROY but not exactly the same. These competitors are more like simply trading tool providers, they provide you with a tool of basic functions to help solve certain problems in certain aspect of a trading process.
However, TROY is a prime brokerage services provider, TROY delivers a full stack of all-life-stages solutions on our integrated trading platform to help achieve operational efficiency. TROY offers hands-on solutions to nearly all aspects of trading process.
As for obstacles, in an environment characterized by continuing market and regulatory change, prime brokerage solutions across multiple assets and global coverage capabilities requires highly centralized resources and connections with top-tier players. TROY will get help from our all-star investors and communities to pool more resources and maintain a trading ecosystem.
Q11：It’s surprising that many of TOP VC have already invested in TROY project, what do you think it is attracted them?
A11：BlockVC, NGC Ventures, Signum, Consensus Lab and a series of well-known blockchain investment firms around the globe have invested in TROY.
Our investors share our vision of redefine trading and beyond exchange. They believe the value of prime brokerage and TROY’s team is the best team to capitalize this opportunity. They see the potential of TROY for becoming a systematic important infrastructure and reshaping the crypto landscape.
Our investor would commit to pool all their resources to provide TROY with new client base all over the world, ecological support and industrial synergies with the benefit of their strategic layout of crypto landscape across technology development, exchanges, custodian, wallet, data, media, community building, marketing etc.
Q12：As we know that Troy Network is Building a World Class Non-Custodial and Decentralized Protocol for Global Trading. So can you tell me that how Troy Network will defeat the Liquidity Problems and Scalability Hitch?
A12：TROY will defeat the liquidity problem by providing one-stop decentralized brokerage services which will aggregate the trading depth of mainstream exchanges (centralized and decentralized) and merchant’s nodes. And the off-chain trading layer (state channel technologies, for example) will solve the scalability hitch.
Q13：In my opinion, core advantage of TROY is to eventually support multiple exchanges by bringing them together on a platform, so I think it is important to get concordat with as many exchanges as possible. How many exchanges are scheduled to collaborate with TROY? And for TROY, when traders use the TROY platform, they must share the order book on the exchange, so they will get incentive to trade. Is there an agreement with the exchange?
A13：Sure. As a prime broker, TROY has built closed strategic partnership with leading crypto exchanges with organic trading volume and market depth. Our collaboration will cover several areas including account management system, credit, competitive trading fee, pricing, speed and listing. Unfortunately, due to the confidentiality, we cannot disclose detail collaboration terms with exchanges.
Finally，The official question is over. Free asking time to Kira
Q1：Why Name TROY? Inspired from Ancient history?
A1：This name is from TROY Horse the famous Greek story. The Greeks conquered Troy city by sending in wooden horses. Recently people usually say that Libra is a Troy Horse of Bitcoin. Similarly, TROY will be the horse of institutional investors to explore the crypto trading landscape.
Q2：Why will TROY platform be required in the crypto space?
A2：Prime Brokerage is the essence in traditional capital markets. Prime Brokerage give you an integrated and single access to allow you to trade equity, bond, FX and derivatives in one account. Besides, prime brokerage also offers a wide variety of services to institutional clients including global liquidity, securities lending, execution, settlement, account management and risk control etc. Prime brokerage services are provided by most of the largest financial firms such as Interactive Brokers, Goldman Sachs and Morgan Stanley.
Q3: What is the primary use case of TROY token in the TROY ecosystem? And how it will be helpful for long term investors?
A3: TROY merely functions as native utility token, which has no characteristics of any forms of security nor promises any returns derived from the token itself. Its functions are embodied in the following aspects:
— 1. Functions as the medium of value circulating as the blood in this organic network;
— 2. Provides workload reward of Relay network to encourage timely and accurate updating, broadcasting and synchronizing orders;
— 3. Serves as relay medium for the exchange of unconventional token trading pairs in ring matching;
— 4. Acts as the trading fee unit when users call up the trading and settlement functions, also TROY will buyback and burn tokens from revenue on a regular basis;
— 5. Means of access to features in TROY and burnt as gas fees;
— 6. Incentives for brokers and to reward brokers contributing to maintain a global ecosystem.
Q4: What is your Total Addressable Market (TAM) ?
A4: TROY > BNB + HT + OKB
Compared to traditional financial market, from an academic research of CICC, the total AUM of prime broker industry is about 1.5x of AUM of hedge fund industry. The number was already $3 trillion at 2008. And the annual revenue of prime broker industry is about $30 billion. Since 80% of capital market is dominated by institutional investors, like traditional financial market, we believe the total revenue of prime broker industry in crypto market is 0.8% of total crypto market cap.
Q5：What is meant by Master-level Trading Platform? how it works?What is the vision of the Project?As it is brokerage service, why you need Blockchain? What problem does the project going to solve? How TROY is different from the competitors? I have listened that there is an Auction for TROY. If so? how it goes?
A5: TROY’s vision is to redefine crypto trading.
Technically, TROY offers single and direct market access to all tier-1 liquidity venues across different financial instrument like tokens, futures and other derivatives, empowering clients with incomparable levels of technology, depths of liquidity, speed of execution, instant cleareance&settlement, margin lending, account management. real-time analysis reporting and professional support — — all integrated on one platform. TROY will become a systematic important infrastructure of crypto trading.
We have recognized this need at redefining Trading and are proud to present the crypto world with an alternative avenue for participating in the vibrant environment.
Q6: Where does TROY core profit come from? How will your team make TROY become a win-win solution for both investors and platform?
A6: As a global prime broker specialized in crypto asset trading, TROY has a relatively standard business model for offering a full stack of integrated investment management solutions. Our revenue will be typically derived from three sources:
1) trading commissions and fees for settlement;
2) spreads on client’s margin financing positions, cash or token financing will be our core (and most profitable) business;
3) fees for value-added services including asset management, fund raising and consulting etc.
TROY’s token economics will also be strongly backed by all or part of revenue sources above. TROY will utilize part of our revenue to buyback and burn tokens from the market.
Q7：How does the transaction fee apply if one account is available for all exchanges?
A7：TROY will get a wholesale price (trading fee) from exchanges and retail it to our clients at a retail price
Published at Fri, 30 Aug 2019 07:11:40 +0000
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