Trent Richards, CEO of Metrix Coin, was hosted by A & Q for an AMA. In the interview, Trent Richards provided insight and direction that underline the growth of the project. Here is the transcript of that interview.
Trent Richards starts the interview with an introduction to his background.
Thanks for having me on this AMA. It’s fantastic to reach out to a new audience and share some information about our fabulous coin. Metrix!
My background for the past couple of decades has mainly been in financial services. I have owned and operated over 40 companies within this time, taking the chair as CEO in all of them. I retired from the corporate world a little over a year ago and moved to the beautiful Philippines for a lifestyle change. Since living here and having plenty of time on my side, I offered to assist the Metrix team with my skill set and then started in a volunteer BDM role. In a short period of time I stepped up to the CEO role as this is where I am the most comfortable, however, I am still very keen to continue in my BDM role as well. My plan is to stay in this CEO role for as long as I can add value to the team and the project. Whilst in this role my plan is to ensure that we are heading in the right direction and in a timely manner. I really want to ensure that, as a team we deliver and we make this project a huge success!
Question from A & Q
Could you explain a little about Metrix Coin and what makes it different from other projects?
Sure. Metrix is a Proof of Stake (PoS) coin that has just recently been forked from the QTUM chain. The Metrix Dev team have then coded the chain to suit the requirements of Metrix. This allows for super-fast, low cost transactions. The proof of stake ability allows a holder to earn interest when holding the coin in a wallet provided in multiple forms by the team. It’s a currency that uses a decentralized ledger meaning its available 24 hours a day. We are changing from a team run project to a community run project through our new Governor protocol. The team will be here to grow the coin and to assist our community at all times though. The reason it is different to other coins is through the partnerships Metrix has in hand. These partnerships will allow MRX coin to be used as a form of payment in Casino’s through to Shopping centers. As we grow these partnerships, the real world use case for MRX will continue to expand.
Could you please provide some info about your Roadmap and how Metrix Coin is progressing so far?
Great Question. I have stepped into the role of CEO in the past couple of months and I’m shaking the tree currently. We are now in the process of replacing the old Road Map with a brand new Road Map in line with our new chain upgrade. The new Road Map to be live by the end of this month. What I did 6 weeks ago, was to introduce a short term Road Map whilst the team are working on the main Road Map. The short term map advised the following items: New CEO, New Partnerships, New Exchange listings, Promotional activities around the exchange listings, New Medium and Reddit articles and increasing our social media communities, Wallet updates and a new Bounty Program! I’m happy to say that all of this is now in place and will be released as required.
Are there other functions of Metrix Coin apart from trading?
Yes absolutely. MRX coin, through our partnerships, will be able to be used as a form of payment. We already have a signed agreement with BA Consult SLR who digitize currency in Casino’s, Post Offices, and Shopping centers throughout Italy. Through this partnership, MRX will start being accepted through BA Consults clients next year. We have this currently on our Road Map for quarter 1, 2020 to complete the integration. We also have a long-standing partnership with Grudge Match Gaming (GMG) where you can bet on gaming, using MRX. You can also challenge other players and work your way up the leaderboard. This site is powered by MRX. This is currently in beta testing and we are working with our GMG team to get this life as soon as possible. A more recent partnership was with AFRO Foundation and their ELYA Coin. This was a strategic partnership to allow MRX to be used to pay for mobile telecommunications through sim cards and top-ups /recharging your sim, expanding to over 60 countries worldwide.
What are the present and future goals of Metrix Coin?
The present goals are very clear. We want to complete our new Road Map and chain swap. We are currently operating on two chains whilst we wait for our community to swap to the new chain by December 1st, 2020. Once we are all on the new chain, our new Road Map will be well and truly in place. We will be bringing on more real use case partnerships allowing MRX to be used as a form of payment. I would personally like to see a minimum of 5 active partnerships allowing MRX to be spent as a form of payment. Once we achieve this, we will look for another 5 partnerships so that we are continually expanding our solid base.
Many projects promise about long-term benefits but in fact, they are not. Can you please explain whether Metrix Coin is able to provide long term benefits?
Great question. We have restructured the coin for this exact reason. We have moved to the new chain to fix the long term tokenomics of MRX. We have fixed the inflation problems that would occur on our old chain if we were to leave it running, as we were paying out 60% ROI for a masternode holders.
Whilst this is great news for anyone who has held a masternode over the past years, the issue is that the rewards are continually being dumped back at the market. This does not allow for the growth in price which may be a deterrent for a new investor. Our new chain structure has removed masternodes and reduced the staking rewards to 10% for two years then dropping to 5% for the following two years. This will allow our holders the long term benefits of a coin that is now sustainable over the long term.
Question From Twitter
Many new projects made a good impression at first but were suddenly abandoned. How will you manage the project and $MRX Coin to gain a place in the market and become the best token in the blockchain world?
Wow – I love this question. I am a very large holder of MRX personally. I bought at an average price of 15-20 sats. We are currently trading at around 3-4 sats. I have stepped into the CEO role as I 100% believe in this coin and the team. I wanted to share my business experience with the team to assist them to grow this coin to the moon. Since I have joined the team we have already signed two partnerships for real-world use cases and brought on three new exchanges that will be rolling out this month. My vision is not right now. It’s based on the long term vision of where we can take this coin and the partnerships we can attract. Working with my highly experienced team I have no doubt in my mind that Metrix is going places.
What is the roadmap for the next six and twelve months? The Covid-19 pandemic and global crisis is very complex, how will it affect Metrix Coin development plan? What is the future direction of Metrix Coin?
The great question in these uncertain times! We are currently working on the new Road Map to align with our new chain. The most important part of our Road Map will be the real-world use cases. This is the focus! The more real-world use cases allowing MRX to be spent as a currency, the less we need to rely on traders for liquidity. Once this is achieved we will see more daily volume coming in on a regular basis, which in turn will make the coin more attractive to investors, holders, and traders. Covid-19 pandemic has certainly slowed down some of our partnerships releases to date but we won’t allow it to stop us. Everyone is in the same boat on a global scale right now. We just need to ensure we have the right engine powering our boat in these testing times!
How important is the community to you? Do you agree with the power of the community? And how can the community collaborate or help Metrix Coin for the development of the project?
The very reason I am personally doing this AMA is for our community. Without a community, all you have is a shiny coin at best. It really doesn’t matter how many bells and whistles or how shiny your coin is without a solid community behind it. We actually have an amazing community known as Metroids! I would like to invite anyone reading this today to join our Metroids community through Telegram, Twitter, or Discord. We are most active in Discord and here is a link: https://discord.gg/DY4d7AV
How can I contribute to your success as a community-driven project? Will I get any benefit from storing the token in $MRX in the long run?
We are currently filling all the roles within our core and support team. Once this is completed, we are hiring! As we are a community-driven coin, all the roles will be volunteer roles and they will range from Graphic Designers through to Business Development Managers and everything in between. If you have a skillset and would like to assist our team, then we would love to talk to you. We are not looking for people to commit 40 hours a week by any means. Some in our team offer and an hour or two a week. Others offer a huge amount of time. This is solely up to you and any time you offer is very welcomed by our team.
I have invested in $MRX since appearing on Yobit Market, what is Metrix Coin long-term strategy for maintaining and raising prices? How does the Metrix Coin guarantee returns for long-term investors?
Okay, great question, and firstly thank you for being a long term holder!
Just to make a point here, the team cannot guarantee any price and/or returns long term. The market will do what the market will do. What the team can do to though, is put a long-term Road Map in place to protect inflation on the coin and that is exactly what we have already done by moving to our new chain with new reward structures in place. By reducing rewards from 60% per annum, to initially 10% per annum and then reducing this to 5% per annum we have curved the inflation of the coin. I believe this will allow for the growth of price over the years to follow.
We want to give a special thank you to A & Q for hosting our CEO of Metrix, Trent Richards. We are striving to provide products that encompass blockchain that is literally For Everyone and For Everything. Please make sure to stay up-to-date with our project’s developments on Twitter, Discord, and Telegram.