Q&A Session with Credits’ CEO, Igor Chugunov, February 16th.
Please find below our Tuesday Q&A Session. I have covered here questions related to the company strategy, vision, and business received from our community recently.
Q: “What's the use of CS token?”
Q: “After reading as much as I could about credits, I'm curious about the internal CS token. Is that use for a private side of the blockchain?”
A: CS is a coin. It is used in blockchain and our fintech line of products. In Digital bank and blockchain CS serves as a means of payment. All commission charges are set in CS.
Q: “What was the ICO price?"
A: ICO price was around USD 0,15; more precisely 1ETH = 5000CS at ICO time (2018)
Q: “Open question: this bull a lot of hype around ‘layer 2’ avoiding high ETH fees etc. Also claiming high TPS, low cost etc. I have technically no clue what layer 2 means exactly, but PR-wise how would Credits get market attention compared to all these ‘layer 2 activities/claims’ such as matic with ‘low fee / high TPS’ etc?”
A: High TPS and low fees mean market advantages. So anything you do on our blockchain is quicker and cheaper. From PR point of view, there are two different audiences, one is the blockchain integration developers' audience and the second is the user audience for our Digital Bank. Both metrics (TPS and low cost) make all our products stand out from the rest of the digital services currently on the market. Credits is able to demonstrate these better results in speed and cost based on the uniqueness of the protocol we have developed. Credits Blockchain is going through the patent approval process to secure this technology use only under our name.
Q: “Where can I buy cs coins?”
Q: “Which exchanges sell CS tokens?”
A: Kucoin, Bilaxy, Gate.io
Q: “Is staking available?”
A: We have got a Delegation mechanism in place, where you can delegate CS to another node. In the nearest future staking option will become available in our Digital Bank.
Q: “Is there a clear roadmap now for this project this year?”
A: Yes, sure, please find it here
Q: “Hello, my CS currency is locked in Wazirx exchange. How to withdraw my currency”
A: Please contact Wazirx exchange support for this. Unfortunately, we can not help with this.
Q: “Gas fee?”
A: Our gas fee is 0,003 USD (actual price as of today), below we demonstrate in the table our transaction cost and fee metrics against Ethereum’s.
I hope I have provided here full answers and thank you all for sending us questions!
Please remember we collect them in our social media and TG chats during the week, and answer them each Tuesday. Anything else you wanted to ask us, you are very welcome to do so on our channels!