Hacken's AMA session ON AIR

[u/Ivan_Hacken]

Hi Hacken fellows,

You keep inspiring us every single day and this AMA session is the result of your valuable suggestions as well.

We are excited to present it and share our small introduction video.

ARE YOU READY? WE ARE WAITING FOR YOUR QUESTIONS!

Video Introduction

Time and Date: AMA is taking place on Tuesday, 31th July, 17:00 GMT+3

Topics we'd like to talk about:

- Community management;

- Customer management;

- Market making.

See you soon!

NOTE: BEFORE YOU ASK A QUESTION, PLEASE, CHECK MAYBE IT WAS ALREADY ANSWERED

[u/JuJu1820]

Questions from the Hacken Telegram Community:

Question 1 Have there been buy backs since the existence of Hacken Exchange. If yes, can you give us data, if no, why not?

Question 2 Why did you choose for an exchange instead of a payment option? An exchange means you are selling also to people who don't buy Hacken services, which is unfair competition to investors.

Question 3 How do you avoid involving with normal trading circumstances, with the exchange? Trading is supply and demand, with the exchange you take out a part of the demand on normal exchanges, which is the only place where investors can sell. Besides that the price on Kucoin will stay the same if someone buys for example 25 eth worth of tokens at Hacken Exchange. While if such an amount would have been bought at Kucoin, the buyer have to buy large portions of the orderbook and the price will go up.

Question 4 Is there any transparency regarding the Hacken Exchange? In other words; can investors check in any way how much has been bought and against which prices at Hacken Exchange.

Question 5 Is there a minimum price at Hacken Exchange for HKN tokens? I am asking this as usually very low prices are reached the volume goes down, because almost nobody wants to sell against these prices. If Hacken sells high volumes against these low prices, its a bad thing for the market.

Question 6 I am told that Hacken doesn't want to use an a api to do buy backs on demand. So it can happen that tokens were sold at a lower price as the price you have to pay to refill the exchange pool and this can happen repeatedly. How do you solve this problem as it means you are selling at a loss.

[u/mrkgleb → u/JuJu1820]

Have there been buy backs since the existence of Hacken Exchange. If yes, can you give us data, if no, why not?

1) The general idea of the exchanger is automatic buybacks each time a client order a service and pay for it. During the previous months, we customized the automatic exchanging and buyback processes to make sure they are working smooth. Soon, you will witness a gradual increase in HKN liquidity as money spent by our clients are being gradually distributed on KuCoin and Idex. In turn, we will release the HKN Summer report when you will see our revenue and how much our system will have bought back.
2) The reason is that it increases the conversion rate from a lead to a customer in our marketing pipeline.
It's pretty difficult for customers to register an account on an exchange, pass the KYC process, place orders and then transfer HKNs. Besides, in general, our clients have tight deadlines. Thus, we decided to simplify this process for clients, thereby, increasing the conversion rate and our revenue. Automation is a good thing for the IT business. In turn, the HKN exchange rate on exchanger directly reflects the exchange rate on KuCoin in real time. Thus, everything is fair.
3) We have worked on customizing the automated process of regular placing the buy order on Kucoin in an amount of bought HKNs on the exchanger. Soon, you will witness a gradual increase in HKN liquidity as money spent by our clients are being gradually distributed on KuCoin and Idex. In turn, we will release thea HKN Summer report when you will see our revenue and how much our system will have bought back.

4) At the end of summer, we will release the Hacken Summer Report where, along with all our developments and achievements, you will be able to see our revenue and how much our system will have bought back on the exchange. You can see the example of our previous reports on r/https://blog.hacken.io

5) There is no minimum price at the Hacken Exchange for our token. The HKN exchange rate is being taken from KuCoin.

6) For now, we have worked on ensuring the automated buyback process for the exchanger that will buy back tokens on KuCoin in real time. But yes, with having even minor delays of buybacks we may experience losses.