AMA Summary with Mike Chen and Grace Pham in Coin 98

STP Network CEO Mike Chen and KiwiGroup Representative Grace Pham

Market Interview

Q: Could you please introduce a little bit about yourself, and how did you end up with the blockchain?

A: STP Network is a tokenization protocol. We aim to connect all members of the blockchain ecosystem, including investors, both institutional and retail, projects, users, and big players like exchanges. For different parties, we have a different value that we can provide. For example, for projects, we can help them attract users, or with retail investors, we can issue them top quality blockchain assets.

Q: For anyone who hasn’t heard about STP Network yet, can you tell us briefly what STP Network is? What problems are you trying to solve? And how does STP Network solve them?

A: Yes. I am CEO of STP Network a decentralized protocol for the tokenization of all assets. I joined the blockchain industry over two years ago, where I founded a crypto fund that eventually built a leading advisory and consulting firm called Block72. Block72 has now emerged as a leading global digital investment bank.

Q: Can you share a bit about the STP Network latest update?

A: STP Network has completed its IEO on Bittrex last week. On the liquidity side, we have other exchanges listing planned in the short term. On the development side, we are pushing to get our mobile platform up in July.

Q: Can you tell a bit about STPT’s Token metrics

A: Yes, the current supply for the IEO was 109M tokens in the first month. Round two will unlock 20M tokens, and then Round 1 will begin to open monthly distribution over a year. As far as a reserve and team tokens, they are locked until 2020.

Q: For a tokenized platform, what’s the most significant trouble for these platforms?
And how STP Network tackle that?

A: Lots of tokenized platforms struggle to get investors to participate. STP Network has different use cases it will introduce to incentivize users to participate in offerings. For example, they are staking tokens to receive better discounts or having better access to quality assets.

Q: Which is the real use case of STP Token in the Protocol?

A: Compliant tokenization of all assets. Right now, we have business use cases that we are introducing through the digital investment bank Block72 that already has many clients and is providing value. Integrating STP with Block72 is already ongoing, and we will have some developments in the very near future.

Q: Who is the STP Network directly competitor?

A: For compliant tokenization, Harbor and Polymath are some examples, but they do not tackle all digital assets and are not as accessible in Asia as us.

Q: For tokenization assets, how to trade them in the secondary market?

A: So for utility tokens, they can trade them on a regular crypto exchange. For security tokens, they have to sell them on security token exchanges which are not as popular at the moment.

Q: What do you think about STO in the next five years?

A: They will grow. Right now, space is still early, so it will take some time to develop the infrastructure. Tokenization offers so many benefits for assets that it’s a no barrier.

Q: Could you explain the relationship between Block72 and STP Network?

A: Of course! Block72 is a blockchain company that is producing revenue and has clients, including Hashgraph, Algorand, Ontology, etc. Block72 is spearheading the launch and growth of STP, which is a decentralized protocol that will also help serve high-quality blockchain assets like Block72’s client. So Block72 is not only supporting STP but leading its expansion.

Q: For STO’s solution, what do you think about some emerging markets like Vietnam and Southeast Asia?

A: Yes, I think it will unlock lots of value in assets that lack liquidity. In these markets, the adoption can be even faster than more developed countries.

Q: What makes STP stand out others project?

A: We have an existing track record of over two years of helping launch and grow top blockchain projects through Block72, we have a globally experienced team and can locally cover both regulated and less regulated markets. We are connected with all the major ecosystem players such as exchanges, projects, community leaders to make this happen!

Q: Which strategy market will you focus on?

A: We will focus on Asia to start because there are much more interest and activity in the blockchain.

Q: are STP had strategy go into Vietnam?

A: Yes, Southeast Asia is a significant market and significant to us.

Q: What would you focus on in the next six months?

A: On the liquidity side, we have other exchanges planned in the short term. On the development side, we are pushing to get our mobile platform up in July. We will also work with developing partnerships with existing and new Block72 clients.

Q: How will you do to attract your potential Issuers?
Can you tell more about your road map to step by step acquire costumer?

A: For issuers, we already have connections to high-quality blockchain assets with our contact (equity investors) to crypto funds like GBIC & FBG and also token investors like NGC and BlockVC. They have good access to potential assets to issue. Also, Block72 always has a robust pipeline that it has and will work with since the last two years.

Q: I have two questions. Is STP Network will use Dual-token in the future?
What do you think about the new migrating trend to BEP2 Binance Chain??

A: We have not ruled that out. We will look into it, of course. Binance has a vast ecosystem to tap into.

Q: Who will take benefit from the issue fee of STP Network?
What is STP Token from issue fee used for?

A: The validators of the network. The fee comes from the compliance and restrictions that one can implement if they use STP rather than just ERC20 standard, for example.

Q: What prospects of STP Network are you most excited about?

A: Unlocking the value in assets that could not be possible without blockchain technology. A new ecosystem will emerge that is different than the current traditional finance, one that will open more opportunities globally.

Q: Which incentive to issuers that they will get while taking part in the STP Network?

A: Compliance, issuer-specific parameters, access to the global community and also major ecosystem players that are necessary to grow their community, users, and network.

Q: what requirements for an issuer to apply your protocol?

A: We will issue high-quality blockchain assets only. There will be a high standard but no requirements.

Q: How many people do you have in your team?

A: A little over 20 people.

Q: All of these only talk about Chromia, Reserve but not STP Network?
Why did you do these AMA??? WHY
What your relationship between STP and them?

A: They are clients of Block72. We invited them as guests to participate in our channel before their IEO’s. Potential collaboration with STP in the future is not out of the question.

Q: How do you ensure the legality of tokenizing a project?

A: Dentons, a top global law firm, has been advising us on the process and making sure we are compliant and following best practices.

Q: What are your key incentives to acquire users?

A: Issuing top assets to them, incorporating incentive mechanisms that will benefit them to participate like staking.




Core Contributor of Verse Network

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Crypto markets explodes. And who will figure it all out? ?

Main news: June, 5

Grid6 Studios introduces Departed Apes NFT

What is the Chinese Government’s stance on cryptocurrency trading and ICOs?

[MATIC] Using to fund your Metamask (So you can buy MM with close to zero gas fees)

Easy HNT Coin Guide | How to Mine Helium Coin?

LighthouseLTS — make mining accessible to everyone

Bitcoin News — Bitcoin ATM Investments Rise, Prices Fluctuate in ‘Very High Risk Environment’

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


Core Contributor of Verse Network

More from Medium

XT will list FEES(UNIFEES) and open its trading

What is Expected on TFS Token Page: 2FA, Liquidity Staking, Hold To Earn Updates

New Goal. New Listing; CITRUS On DIGIFINEX!

📣 CoinWealth (CNW) is Now LIVE on GokuMarket IEO LaunchPad! 🚀