Current state of affairs AMA Transcript
AMA transcript from Friday, March 13th @ 10PM SGT
Q: Can you tell us to what extent the market crash affected RiveX? How does the Coronavirus effect RiveX? A: Well I can tell you now that productivity hasn’t slowed at all, most of the teamwork from home if not at the office so the virus hasn’t had much effect. We are not swayed by market conditions as most of us have been around since before 2016 — we have been through major crashes before.
Q: What did the RiveX team learn from the crash of DeFi projects? Aka MakerDao A: The team has been actively researching these topics to stay up to date with the current affairs, learning and improving our own products where possible.
Q: Lots of projects probably ended up broke from the market crash, what would be a backup plan for RiveX in terms of funds? A: As Mark mentioned, holdings are in stable coins so funding isn’t an issue.
Q: What measures would you take to keep the spirit high up of the community and yourself as a team if any crash happens later on when Rivex coin is trading? A: We will do our best to deliver what was promised — in fact, we WILL deliver what has been promised. We will keep transparency at a max when it comes to our community which we greatly value!
Q: RXV won't be listing in the state of this market but RX Wallet will still go live. So after that, can we hope to see some DApps form Rivex like RX office? A: So far the products we have lined up for launch are WRDEX and RX mobile and desktop wallets. There is currently no ETA on xOffice but the market conditions certainly have no effect on this.
Q: Are there any plans when listing you cancel BTC pair for RVX? A: No delays as of yet. The listing itself may be delayed but product delivery is still set
Q: The bad market is not good for projects but it may be a good chance to show which projects will be the real one with business, adoption, building. So, by challenging this state of the market, do you think this will be a good chance for RiveX to show the strengths of the project? A: Definitely. Mark was discussing this with us today, delivering in a market like this shows the absolute dedication the team has towards the project and we remain unphased by the current market situation
Q: How did your investors and partners react to the market? Did they suggest anything in delaying listing and product release? A: In terms of the listing, we all agree that we need to defer or wait until market recover first, however, product rollout is still as per timeline with a slight delay, only features related to the listing are put on hold
Q: Crashing market has shown the weakness of many projects in terms of the price that can make investors have a negative attitude to the project. So, how will the Rivex team resolve this problem when we have a bad state like this? A: market sentiment is something we can’t really control however our current private investors are going long term with us in terms of marketing our solution so we believe when utility pick up, price of the token should fairly pick up as well theoretically
Q: What if the worst is yet to come for BTC? any backup plans in case this scenario continues for years? A: our product will still roll out and development is still ongoing. for a startup, figuring the revenue driven model is the important task as well
Q: How you can increase RiveX price as you are already near to achieve your target (before listing) and might not make FOMO, I mean what you guys will bring in future to grow project such partnership/use-case/ more products A: The team has a lot of products and ideas in the pipeline. The team is in constant discussion with potential new partners — we will have to wait and see what the future holds. We also have a weekly discussion to brainstorm on utility and reduce circulating of RVX with holders and supporters in mind. That is why earlier I mentioned that we were monitoring the Maker situation closely as we want to ensure the product we release does not hit with an issue like this.
During times like these, it’s important to follow some simple precautions to prevent infection or prevent the spreading of the disease. If you have any symptoms don’t ignore them! Please take a look at this one-pager and stay safe.