Post
Topic
Board Announcements (Altcoins)
Re: [ANN][LEADWALLET][LEAD][World's Simplest Cryptocurrency Wallet]
by
Twinkledoe
on 14/04/2020, 19:50:33 UTC
The project has a complex innovation. It's not just enough to write a good whitepaper and what the community should expect, the major issue here is getting liquidity for the marketplace and the swapping and coin exchange. I hope these will be looked into.

Don't worry about this. We actually have been thinking a lot about this. I understand that liquidity will be an issue for most new altcoins - but here's why we are confident we can overcome this problem:
1. First of all, we are not a non-profit organization. We are a for-profit company, and just like all for-profit companies, we will try to make money from our wallet services, which will make us profitable.
2. And once we are profitable, we will buy back our own tokens from the open market and burn them. This will easily create liquidity and natural demand for the token
3. Keep in mind that casual crypto users can easily use our wallet with ease, so the barrier entry and the learning curve are extremely minimal. And when we have more and more users in the wallet, we get back to point number 1 and 2 above (larger buybacks when there are more users in our wallet services)

This is a big difference between us and other new altcoin projects. We are not trying to "disrupt" the traditional tech industries. We do not need to be fully dependent on speculative traders to create liquidity for our token. After our wallet app is up and running, we can just focus on getting new users and keep old users in our ecosystem and that's it. When we have more users, the rest is just "rolling ball effect" because we can use our profit to buyback and burn tokens every quarter as we promise in our whitepaper. That alone can easily create demand and create a certain price floor.

How you explain it, is like very simple. But in reality, a lot more complex than that will happen. The first bottleneck is how to get users for your app once it is launched. So many crypto apps out there that you need to compete with. Given that you are offering good features, yet, you need to convince them that your security is great and their portfolio is really secured. And that will take time because they will wait for the feedback from your initial users. Also, you need to address each and every single issue that your clients submitted, in that way, they know that technical support is always there whenever they will encounter problem. It will also help in maintaining your clients if they are satisfied with the support from the team and will also endorse your app if they are happy about it.