We successfully hosted our Ask-Me-Anything (AMA) session on September 25 at 6 PM UTC. Education Ecosystem CEO Michael J. Garbade spent an hour interacting with the community in real-time.
We announced on September 16 through various media channels that we were hosting the AMA on the date mentioned above.
Michael responded to various types of questions during the AMA. No questions were off-limits except those on price speculation.
We give a big thank you to all the community members who took part in the AMA. Some questions were asked long before the AMA started and we continue to see more questions being asked.
Your questions, current trends, and our responses
An AMA can only be an AMA if there are answers to questions asked. And the community did very well in asking timely and relevant questions that kept Michael busy throughout the AMA session.
Many people asked why we have not been listed on bigger exchanges such as Binance. We know that many people would love to see the LEDU token on Binance. While we want to do this, we highlighted that major exchanges can only list us if we pay anywhere between $300 — $500K. This is a lot of money given that we are experiencing the coronavirus pandemic that is hard on many projects.
We have cut down on non-core activities and paid exchange listings. Cutting down the monthly spending has helped us to stay afloat during this pandemic.
The biggest trend in crypto right now is decentralized finance or DeFi for short. It is no surprise that community members wanted us to enter the field either through a new product offering or partnership. Our product is not related to DeFi and we currently have no plans to create a DeFi product or enter into a DeFi partnership.
The ongoing DeFi momentum has unfortunately led to a sharp increase in Ethereum Gas fees. The Gas fee increase has negatively affected the LEDU token usage in the same way it has impacted all other ERC20 projects.
No problem if you missed the AMA
A lot of questions were asked. Some of them led to more questions, and even new ideas. More questions are still coming in. We will respond to all of them.