A thorough clarification seminar of the CROSS project was held on April 7, 2019. We have been interviewing media during these seminars, which usually follow the CROSS project. At the event, Mr. Nakamura of the Global Investment Academy presided over and proceeded with politeness, occasionally asking questions about the points that visitors are concerned about.
First of all, Mr. Nakanishi, CEO of XBANK Co., Ltd., who is developing the CROSS project, mainly explained how CROSS looks as an investment object. CROSS exchange is the first Azerbaijan crypto asset exchange. They have a global presence and are developing in Japan. Other locations are in Korea and Hong Kong.
Azerbaijan is a country where high quality crude oil and natural gas can be obtained, but it is said that it is trying to shift to finance in view of the depletion of its oil resources. Azerbaijan’s first blockchain conference will be held in May, and CROSS will be exhibited as a bronze sponsor. One of the features of CROSS exchange is IEOs. IEOs are an examination-type token sale that can be issued by issuing tokens after examination from exchanges, unlike ICOs, which issue and raise funds by everyone. IEOs are currently trending.
Nakanishi and others are trying to make CROSS exchange a top 5 global exchange in terms of trading fee income within two years. In terms of statistics on fee income ranking as of March 2018, to be in the top 10 of exchanges in the world the fee income must be around 2 billion Yen per day. With this data, imagining the returns on XEX tokens if CROSS exchange became that large would be incredible.
The best features of CROSS exchange is transaction mining. Briefly speaking, if you attain rights from the exchange, users will receive income distributions daily. Transaction mining can be used as a form of asset management. If you hold a certain number of XEX that can be traded, the profit rate per XEX will gradually decrease, so the profits will decrease. If you increase the number of acquired XEX, the way to increase assets will accelerate. There is a way for users to choose how to accelerate this themselves.
Mr. Nakanishi says that the idea of living off the “CROSS exchange dividend life” spread by the affiliate program is funny and should be viewed as an option in your portfolio. In CROSS exchange, they have declared that they will burn tokens by supporting the price if XEX falls. The funds are accumulated in the CROSS EX FUND with the fund amount transparent to the public. From now on, CROSS exchange is planning to open an Asset Backed Market and plans to develop prepaid cards that can be used at stores with MasterCard at ATMs globally.
Why does the price of XEX not go down?
Mr. Kakinuma, COO of XBANK Co., Ltd., spoke on this subject. CROSS exchange said that the community is strong and is getting a reputation as a good exchange through its feedback. At the time of the seminar, the lockup rate for XEX was 91.54%, which is a phenomenal number.
Is it better to be returned trading commissions in the form of XEX or have your trading fees taken away? Of course CROSS exchange can answer that!
We can see that there is nothing as transparent as this, as the returns from CROSS exchange can be seen in the daily reports. Currently, over 200 million Yen was returned to customers in 10 days. The reason for being able to provide returns is due to the exchange’s system of rewarding XEX holders. This is fundamentally different from common HYIP (high yield investment) deals, and in the case of CROSS exchange, it is not fraudulent because it is returned from the transaction fees pool. Kakinuma finally explained the method of automatic transaction mining. Now that the price of XEX is low, it seems to be a good time to easily mine the tokens.