Finxflo with Matt Page
Brief Information
Finxflo is a global cryptocurrency exchange aggregator. It aggregates offers from the world’s leading exchanges, thereby granting users access to the best buy and sell prices and the highest margins. Users implement trades on the platform
Introduction AMA
Eric: Welcome @ThePagey of @Finxflo_Community!
Matt: Thanks so much for inviting me. Loving the FXF gif, strong.
Eric: Haha its awesome. So first of all, tell us a bit about your background and how you ended up in the crazy crypto world.
Matt: Ha of course. My name is Matt Page, I’m head of institutional sales at Finxflo. I’ve worked in many countries and regions building businesses up from the commercial side but in more traditional industries. I’ve been very lucky to travel extensively across the world, I’ve spent a lot of time in Africa, Middle East, India, US and all around Asia. Bit of a shame COVID has stopped that temporarily. I came to crypto through after running deep into Macro Economics and came out with two theses, precious metals (specifically industrial/ supply shock) and digital assets/cryptocurrencies. This led me down deep into the crypto forest. PS I used to be a DJ and still love my vinyl!
Where’s your main community army from???
Eric: All over the world! Wow. What a diverse background. So in your own words what is FinXFlow?
Matt: My friends used to call me a spy I travelled so much
Eric: Must have been a blast.
Matt: Thanks, I think that gives me a great global perspective on markets/culture and people. Finxflo is a unique platform in the space. We are a regulated, hybrid liquidity aggregator that directly bridges the worlds of CeFi (centralized exchanges or CEXes) and DeFi (think automated market makers or AMM like Uniswap or Balancer). We are a platform that does this. Other CeDeFi liquidity aggregators, like Orion, are actually protocols. So while we totally respect what they’re doing and are excited for them to rollout their services, we’re a little different.
In that sense, we’re more like Binance, in that we require you to open an account with us, and not just use a Web3 wallet to interact with our protocol. We like to say “One Account, One Wallet, One KYC”! What that means, in essence, is that you can use our platform to interact with liquidity opportunities on a variety of exchanges, and not have to deal with dozens of login/password combinations. So while there are a lot of CeDeFi platforms out there or (mostly) on the way, we think our offering is pretty unique.
Why not try our demo account…although Polkastarter event has now been closed you can still sign up for our demo account.
https://trade.test.finxflo.com/
Eric: Impressive.
Matt: Sign up and look at the live aggregation engine at play on BTC/ETH pairs without playing will real ETH
Eric: So its a great all in one for traders and would also be perfect for institutions. The app is both covering CEX and DEX, right? How is KYC being handled across exchanges? do you handoff the kyc materials to exchange?
Matt: That’s right. As we are MAS regulated under the grandfathering provision KYC AML is really important. This sit’s with us as the clients face off to us, we face off to the exchanges.
For the real money flow coming into the space through institutions it’s very important to have a regulated space for the entry point
Eric: So what does the token do?
Matt: Our European operations, out of Cyprus and US operations out of NYC are also in the midst applications for the regulatory status
Eric: Quite a defensive moat if you get more
Matt: Token utility is very important to the platform. By staking FXF tokens, holders become eligible for token returns. As the platform charges trading fees, the reward pools are filled. Proportionally with the number of staked coins, investors get rewards for their staked FXF tokens through an automated smart contract. This compounding effect is another incentive for all holders to utilize their FXF tokens not only for trading but also for additional passive income.
Finxflo has a significant yield farming potential of its own, as FXF token holders can choose to provide liquidity to FXF for underlying exchanges. These funds are used as a margin on underlying trading platforms and liquidity providers (yield farmers) are rewarded with FXF in return. This process is called liquidity mining and all FXF holders can utilize this innovative system in the DeFi industry to generate profits in FXF tokens.
More punchy less wordy is FXF token utility — 1. Reduced trading fees 2. DeFi/CeFi access 3. Liquidity Mining 4. Staking FXF to receive a portion of platform fees 5. voting rights.
I know there’s lot to unpack but it gives you a good overview
Eric: Interesting. How does FinXFlo reduce fees ?
Matt: We can reduce trading fee’s through a number of ways but the main way is we are one large client to the relevant exchanges and liquidity providers. So the volume we are bringing will enable us to secure preferential rates. In addition with the token utility you can further reduce fee’s.
Eric: How big is the team now?
Matt: We have 20, of which 2 are in Cyrpus and 1 in NYC. There are another 4 people joining us immentantely. This is just the start!
Community AMA
Q: Is your aim, to become the number one (leader) in the Cryptocurrency Exchange Aggregator Platform ? and if so what will you say is your biggest strength to achieve it?
Matt: Love this question…yes we aim to be the No1 platform for you to purchase…just watch us explode. We are solving the big issues in the space with global best price and execution! Community, customer experience and price execution will be our way to achieve this. One Kyc One platform One wallet! Why go anywhere else?
Q: To launch a platform like Finxflo they really need to provide the customer with security and trust. What will the experience be like and how will you give all this to the client?
Matt: Nice question. Integrity Trust and security are central to Finxflo. Thats why our security and custodial partners all have to share our key values and standards. We have a number of advantages with this as your wallets are not held on exchanges, they are off exchange. Technologies like MPC multisig and HSM are deployed. Check out more details on our website!
Q: Tell us describely about “Dark pool trading”. How can I stake my tokens on “Dark pool?”
Matt: This is really important…That’s part of our fair trading policy. Small and large orders benefit from the dark pool. We are bringing institutional grade to the savvy trader as well as large institutional players. Dark pools reduce front running the order book we hold is not visible outside!
Q: What is your solution for providing the “Deepest Liquidity”.
Matt: There is more to liquidity than the exchanges. We are partnering beyond this…the clue is in the liquidity partners, I can assure you we have some amazing partners who understand what we are bringing to the market and supporting our platform. Traditional players are used to prime brokerage for execution, that’s why they understand what we are going to achieve. Thats also a reason why Cyrpus is very important to us!
Q: How will Finxflo integrate all of the liquidity from Binance, Huobi and all the other exchanges? Do they need to partner with you at first or does this occur permissionless through their APIs?
Matt: Yes it’s through API’s and co location where we can. Our team has come from a high speed low latency background…whats interesting is a lot of exchanges aren’t used to this and some of the architecture (you don’t see) is hard to integrate with…thats why we have the team in house. For example when intuitions plug into us its FIX API, thats the standard we run but many don’t so we adapt and bring it under one roof!
Q: “STAKING and FARMING is one of the STRATEGIES to ATTRACT USERS and ACHIEVE MASS ADOPTION
Does your GREAT PROJECT have plan about Staking and Farming ?
Matt: We do, it’s an important part of the platform and will aid with the liquidity. Defi will get released as part of Rev2 and a lot more details on our partners and programs will be released then. It’s very exciting stuff
Q: As I understand, Finxflo is owned privately — does this mean it is a fully centralized company considering that you have a HQ as well?
Matt: Yes, we aren’t just a protocol. We are a multi jurisdictional entity head quartered in Singapore. You can see our staff on the website. We are real and contactable…come and connect with me on LinkedIn and twitter.
Q: Adoption is important factor that all blockchain projects should focus to be more attractive in the investors eyes. also What You have done and plans to do achieve adoption?
Matt: Adoption is critical for our space…regulation is coming, the only way the real adoption comes is through the safety and accountability of a regulated environment. We want to offer institutional grade tools to the whole community not just reserved for the elite. By having this in a regulated, insured platform with global best price and execution will help adoption
Q: If Finxflo really wants to get the best tools and features from Defi and Cefi, why use a kyc? Why not take the path of decentralization in the aspect of data protection?
Matt: Simple, you want the adoption and the money flow….it’ won’t happen without regulations. We will be ahead of the curve. If you don’t want to KYC defi offers number of other alternatives but they are protocols and you have to think about where the money flows from institutional players will go
Q: If Finxflo really wants to get the best tools and features from Defi and Cefi, why use a kyc? Why not take the path of decentralization in the aspect of data protection?
Matt: Simple, you want the adoption and the money flow….it’ won’t happen without regulations. We will be ahead of the curve. If you don’t want to KYC defi offers number of other alternatives but they are protocols and you have to think about where the money flows from institutional players will go
Closing Remarks
Matt: Great to be part of the community…some excellent questions and I’m sorry I couldn’t answer all.
Please don’t forget to subscribe like and join us.
Our token release will be on the 8th! Exciting times
Eric: Awesome! Thanks Matt! Thanks all for tuning in!
Matt: Pleasure. Stay safe everyone
Eric: FinXFlo is a REALLY strong project. Be sure to participate in their public sale soon!
