Interview with She Knows|Exclusive dialogue network project TOP Network, Fetch.AI, IEO will continue to fire?

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On April 2nd, the second season of Babit's first-community interactive interview column, She Knows, was launched. The topic of the dialogue was "IEO big analysis second half: project side Huashan sword".

We have invited two current "Net Red" projects, they are the first TOP Network co-founder and CEO of the Huobi Prime project, Wei Songxiang, and the project Fetch.AI CTO Toby Simpson, which was previously launched on the Dollar Exchange Exchange Launchpad platform. The host of this issue is the editor of Babbitt Tang Xialing and the host of "8 Questions" Jia Xiaobe. Regarding IEO, the two sides have had a wonderful interaction.

Some of the highlights are as follows:

1, Wei Songxiang: TOP price rise is unexpected, but we do not pay much attention to the price, the CEO is too concerned about this team must be finished. We pay more attention to developing things and building them.

2. Wei Songxiang: I believe that blockchain financing should be carried out entirely in equity financing. It takes a lot of time to build a project. Investors and teams need to work together for a long time. Equity investors will pay more attention to the long-term development of the project. The Token fund is the opposite of the project side. It is based on short-term behavior and requires that the exchange be cashed out as soon as possible.

3. Wei Songxiang: Personally think that ICO, IEO, IXO and other financing methods will disappear. The blockchain project should be financed by equity, and then the pass will be given to shareholders and community members free of charge. Finally, find an exchange to open a transaction, not to finance.

4. Toby Simpson: We have no control over the market. We must be cautious and not respond to short-term market conditions because it will distract us from our long-term vision. This phenomenon will decrease as the market matures further.

5. Toby Simpson: I firmly believe that big companies and large organizations in the industry want to build a new future, instead of making quick money at the expense of the future.

About the latest developments

Question: Please introduce the next project and the latest progress

Wei Songxiang: The TOP Network project is divided into two parts, one is a distributed communication network, and the other is a high-performance general-purpose public chain. We were unable to find a public chain for our business accounting in the process of developing a distributed communication cloud, so we decided to develop a public chain. At present, we are doing our best to develop the main online line.

Toby Simpson: Fetch.AI is creating an economic network: a vast decentralized environment in which all parts of the economy (data, hardware, services, infrastructure, and people of IoT devices) can be represented without human intervention. Complete the relevant work, eliminate friction and let the digital entities solve the problem on their behalf. We use artificial intelligence to connect those things that are valuable to those who want it.

Fetch.AI acts as a de-intermediary agent: providing self-service trust directly to the user network, and we believe that the future will have a significant impact on travel, transportation, asset management, energy supply chain and network usage optimization. The important thing is that it makes your life easier. It's like having countless personal assistants. They all know what you like, they are there, solving problems for you.

About IEO financing

Question: How do you see the relationship between equity financing and IEO financing? Why choose IEO?

Wei Songxiang: In the financing process, we have equity and Token. Most of the US projects are based on equity financing, which is beneficial to the project in terms of compliance. Token is given according to equity investment, and China's pure Token financing is more.

I personally believe that blockchain financing should be carried out entirely in equity financing. Building a project takes a lot of time and requires investors and teams to work together for a long time. Equity investors will pay more attention to whether the project has business prospects and whether the team can succeed in the project. They think that the technical team and business possibilities are the key to success, and that technology is not particularly difficult to achieve.

Equity investors are totally different from most Token Funds. The financing model of the blockchain world in the past 1-2 years has great problems, especially in the short term. The Token fund is the opposite of the project side. It is basically a short-term behavior, requiring you to go to the exchange as soon as possible and immediately cash out.

Therefore, the blockchain project will first integrate a certain equity, and then put the basic technical framework together before going to the next round of equity. There should be no difference between blockchain project financing and traditional project financing.

Toby Simpson: I have never heard of the term IEO before, and I see it as an exchange-managed token sale. In fact, IEO has many features we like: it is managed by a trusted organization; it can target a large number of users who have completed KYC and AML certification; it is safer for investors who participate in IEO; there is already a ready-made The infrastructure supports IEO; it adds further trust because the exchange conducts due diligence on the project.

About the sudden rise and fall of the token

Question: After the project IEO, the price rose sharply, and then went through the fallback. What do you think of the market reaction?

Wei Songxiang: It was completely unexpected. We have no concept of what the price of the currency should be. Why the market reaction is so hot, it may be Huobi's powerful influence. Of course, our project itself is technical, project can be grounded, team, investors, consultants are very strong. Our lock requirements are relatively high and the circulation is small.

Additional questions: Some rating agencies said that the TOP price was manipulated, and there are voices saying that as the first project for Huobi Prime to go online, the exchange will hope to set a benchmark. What do you think, what do you care more about the price of the currency?

Wei Songxiang: This question should be seen this way. The exchange wants to set a benchmark and they will use the benchmark to select the first project. Firecoin has his own evaluation system. Our team has no concept of the market, but it is definitely happy. We don't pay much attention to the price, the CEO is too concerned about this team must be finished. We pay more attention to the development of things and ecological construction. Our system planning is relatively large, and the time, resources and energy required for development are particularly large.

Toby Simpson: This is hard to answer. I agree that this is a phenomenon worthy of attention and questioning. One factor contributing to this phenomenon is demand, which is difficult to deal with in situations where supply is limited. These things may have a negative impact on investors, especially small investors who buy tokens ( retail investors), who often suffer losses. This kind of problem is very complicated, and the stock market is like this. We have no control over the market, and we must be cautious and not respond to short-term market conditions because it will distract us from our long-term vision. This phenomenon will decrease as the market matures further.

About the exchange through the IEO slap platform currency

Problem: IEO may be seen as a means of exchange to achieve the appreciation of its platform currency. What do you think?

Wei Songxiang: The rise of the platform currency that everyone sees today is the same as the rise of ETH in that year (the price of ETH has gone down after madness). The difference is that the platform currency has real business support, and both the fire currency and the currency security will repurchase part of the revenue and destroy the platform currency.

Toby Simpson: I believe that everyone in this industry wants the industry to be safer, more professional, and foster innovation in it. I firmly believe that big companies and large organizations in the industry want to build a new future, instead of making quick money at the expense of the future. Question: In China, IEO is considered to be a disguised ICO. It is a financing method that is not recognized by the regulator. What do you think?

Wei Songxiang: Fire Money Prime is not really an IEO, it does not provide financing functions. Prime is for members of the community to trade directly in the secondary market.

Toby Simpson: Our expectations for IEO are simple: to raise the funds we need, and to get as many people as possible to get our tokens to build and nurture our supporters and developer communities. IEO is a reasonable way to help the project move forward. To our surprise, token sales raised $6 million in just 22 seconds.

The success of IEO means that we now have a large number of token holders and we are responsible for them. And all future value depends on our ability to execute the program and its progress.

What about the future of IEO?

Question: ICO, IEO, IXO, etc. are endless. To a certain extent, this is a way for the project party to find money from the market. Would it be normal to change the soup?

Wei Songxiang: Personally think that ICO, IEO, IXO and other financing methods are wrong, they will disappear.

Blockchain projects should be financed through equity, and should only be financed in the primary market, and then the pass will be given free to shareholders (teams are usually shareholders) and community members. Then find an exchange and open the currency instead of financing. Question: Where do your projects come from? Need further financing in the future?

Toby Simpson: Before the tokens were sold publicly, we accepted several rounds of private investment to support what we were building. The funds we raised are sufficient to support our projects, we don't want to raise the funds we don't need, but we do want to raise enough funds to make sure we have enough space on our roadmap to deal with the accident.

The Fetch.AI Foundation is a token holder that releases these tokens in the future to support the entire ecosystem and further development. There are also some tokens available for future release, which is a good thing.

We know that many people see the importance of compliance. For the future of this field, it is important that we work together to build trust and engage in dialogue on compliance issues. For example, as a founding member of the European Blockchain Association, we work with Ripple, EMURGO / Cardano, NEM and Bloq with European regulators to help provide compliance information, education and mentoring activities. Question: Some media outlets may have something to do with the expansion of the New Third Board company. Is this true?

Wei Songxiang: There is no equity or interest relationship between TOP and Tengzhan. There is no business relationship at present. TOP is a blockchain project in Silicon Valley, USA, facing the blockchain community overseas. Tengzhan is a potential partner of TOP. In the future, TOP will provide Tengzhan with a low-cost, secure distributed communication system.