REVIEW:
NuMoney's story
S $ 1.2 million in November 2017, S $ 2.5 million in January 2018
Born out of frustration over our inability to buy
cryptocurrency comfortably, we started
NuMoney as
over-the-counter service.
Running
NuMoney's OTC service is easy:
1. Get a cryptocurrency liquidity provider
2. Fund our account via wire transfer
3. Sell
cryptocurrency on spreads
In the first 2 months, we passed a S $
1.2M turnover.
Bank problems and liquidity providers
In the first 2 months, we grew so fast that the points of failure became very clear. Neither banks nor
liquidity providers appreciate high volume, fast cash movements. Specially so if you run cryptocurrency
start. So we immediately encountered a problem with our liquidity providers and our bank.
Nevertheless, this rapid growth shows a great demand for cryptocurrency in Singapore. For us to satisfy this
request, we must eliminate these points offailure.
Eliminates the points of failure
To eliminate the point of failure, we must build an exchange.
This is required for both local and international users to trade and archive requests here, which take turns
bring liquidity to the edge of the area we will operate. This eliminates the dependence on the external
provider of liquidity.
Development of exchanges is very important because it allows fiat currency to spin in exchange without necessarily
cross-border, which in turn reduces the need for banking intermediaries. This, in the long run, can be annihilated
dependence on the bank.
Can I transfer it out of NuMoney Exchange?
You can transfer your NMX token out of NuMoney Exchange once your account is verified. You can
trade externally on Etherdelta, or a 3rd-party exchange that includes NMX tokens.
NuMoney Exchange:
So we decided to build the exchange. As this looks:
This exchange will be like Gemini, in which case you can fund your account and buy
cryptocurrency with fiat currency.
This exchange will also be like Binance, which we try to support as many alt-coin couples as we can. Like Bithumb, we are
will also have a physical location for customer service.
Instant verification
Unable to use the cryptocurrency account you just registered is a huge source of annoyance, and this is it
problem plagued all cryptocurrency exchange. But not with NuMoney exchange. As a local user which is NuMoney
The exchange has a physical office / store around you, you can open an account, store fiat at the store and get started
tradinginstantly.
As an international user, you can deposit cryptocurrency and transact directly. You can also verify you
concurrent account. Withdrawal is enabled once account is verified.
Support Alt-Coin
There is another cryptocurrency coin hugemarket outside Bitcoin. And wewill likes to support that without asking
You, the user, to make an extra jump of large coin withdrawal like Bitcoin to such third-party exchange
Binansi or Bittrex.
NuMoney Exchange will support alt-coins with enthusiasm. In fact, the first coin we will launch
with is Ethereum, not Bitcoin.
From day one, the wallet module in our exchange has been planned in our codebase for easy integration. Diverse
a set of alt-coin markets will be an important feature of NuMoney Exchange.
Local and international users
Local users refer to users who live within the city and state where NuMoney's customer service center is located
physically on.
International users refer to users who live in a place outside the city where our physical store is located.
Cash deposits and withdrawals
For a local user, cash deposits and withdrawals are to be done in-store at NuMoney's office or our retail
customer-care location. This is also where the verifications (KYC / AML) are done. Before the end of
Q1 2018, we expect to have 2 NuMoney locations in Singapore, and at least 1 location in Kuala Lumpur,
Malaysia.
As cash deposits and withdrawals canonly be done in person at our physical stores, international users can only
do so if they are traveling to locations where NuMoney stores are located at.
Account limits
Fiat limits
For local users, there are no limits for deposits and withdrawals. However, transactions more than
$ 50,000 require a proof for source of funds.
International users who make their way to our physical stores are allowed to deposit and withdrawal, but is
subject to approval. Approval will be predicated on the proof for the source of funds.
Cryptocurrency limits
Both local and international users can withdraw up to S $ 50,000 worth of cryptocurrency a day.
Customer service and support
Email support
As with any exchange, email support is offered universally. The downside of email support is that it's out of sync
and any email replies (in good exchange) will take at least 1 business day. And most solutions are not resolved
firstresponse.
NuMoney Exchange will provide email support. However, we did not find this enough, and thisthus leads us to
the next point.
Chat widget
Chat widgets are a superior form of support compared to email support, as each query gets dedicated staff
simultaneously tackle the problem until the problem is resolved. Chat widgets will be the default and preferred form
customer support for NuMoneyExchange.
Direct call
For local users, we offer direct connections for customer support.
Improve customer support
It's easy to promise customer support methods. But the main concern for each user is issuing support with usergrowth.
However, user growth is unpredictable, and there will always be a time lag in the pursuit of any form of growth.
This is why we will adopt a capitalistic approach to customer support. Not all users are created equal. Some trades
more than others. Corporate users have higher support needs than regular users.
Thus, we intend to launch a priority-setting scheme in which high-priority users are paying premium support
whether trading volume or premium fees will have their supported tickets prioritized.
Priority customer support will be added to the NuMoney Exchange Post-launch.
Physical store for customer service
NuMoney, Bitcoin Shop will become the regional retail chain brand that will become the customer service center
for NuMoney Exchange.
In our customer service center, users can
1. Open an exchange account
2. Deposit or drag the fiat currency
3. Create buy or sell orders
4. Buy a hardware purse
The first customer service center for NuMoney Exchange will be at our headquarters in Singapore. After that, we'll do it
will expand NuMoney's care to the following locations / regions:
● RafflesPlace, Singapore
● Kuala Lumpur, Malaysia
● Penang, Malaysia
● Jakarta, Indonesia
Security
Security is the number one concern for us, especially since NuMoney was founded by a core team consisting of
programmers. We do not intend to be hacked, not even once.
Our security measures are as follows:
1. No private key will be stored in the cloud
2. Hot and cold wallet storage
3. No public network interface beyond what is required
4. Compulsory 2FA
5. Cloudflare Protection DDoS
Unfortunately, the above steps are not stupid, and there will always be bugs to exploit. Therefore, on
for these internal security measures, we will also have a public bug reward program.
Fee Schedule
Trade Commission
Trading Commission will be 0% until NMX token (for cost discount) applied. NuMoney will even make it
money from our OTC trading.
Deposit and withdrawal
For each coin, there will be a deposit and withdrawal fee specified. The cost depends on the type
coins, and will be denominated in the coin itself. This is the payment schedule for the coins we will launch with:
The team behind NuMoney
NuMoney is a Nubela fork, and the original team of Steven and Bach led the effort at NuMoney. Since then, we have
has expanded the NuMoney team:
Steven Goh
CEO
Linkedin
Steven is the founder and product manager of the company. He is the jack of all trades. From design to marketing and
sales, Steven has edged between the various hats that make the company work. Graduated from National
University of Singapore, Steven has a Bachelor of Computer Science.
Historically, Steven has built
● Javelin Browser (1M download)
● Gom VPN (300k active users)
● Giki
● Picturemate (110k active users)
● Kloudsec (Content Network Distribution platform, now not working)
Bach Le
CTO
Github
Bach is a tech guy at NuMoney.
He started out as a game developer then ventured into the network and distributed system, bringing him
thinking that focuses on performance and concrete-oriented thinking into each project.
As a person who strongly believed in the first principles and mathematical precision, he did not compromise when it came to stability
or truth.
His skills are invaluable in critical systems such as exchanges.
Bach holds a Bachelor degree in Communication and Media from the National University of Singapore. Historically, Bach
have
● Build a Kloudsec backbone: FreeBSD-based referral network
● Android OS modified to support realtime modular audio effects system
Contribute to multiple open source projects from a graphics engine to a kernel module
Benjamen Lim
Fulfillment
Linkedin
Currently focusing on investment research in family offices, he values the value of technology brought
society and how investment success is intertwined with the adoption of promising new technologies.
At NuMoney, Benjamen is involved with keeping investors up to date on progress within the company, as well
delivering technology-related issues in companies, asset classes, and industries to investors.
He brings common sense & feasibility studies to Numoney based on his experience of working with variety
organization.
Benjamen has a Bachelor of Engineering degree from National University of Singapore.
Sam Lim
COO
Linkedin
Sam is very proficient in digital marketing and is experienced with field operations, he is responsible for
NuMoney's day-to-day operations and weekly seminars organized by NuMoney.
He holds a Bachelor degree in Banking & Finance from the University of London in SIM.
Clara Lim
Evangelist
Linkedin
Clara is involved in digital marketing and customer relations. He is responsible for building community and interacting
with the community. He is the host of the bi-weekly NuMoney meeting and attends a blockchain-related event
promote NuMoney.
Clara Majors in Innovation and Business Design.
Lee Wei Ping
Operation
Linkedin
He majored in Management and Business Customer Experience.
He is an apprentice at NuMoney and manages our OTC services. He has since joined us full time to lead daily operations
NuMoney's retail network after proving itself to be great with details and customers.
Cheryl Goh
Operation
Linkedin
Cheryl's main involvement lies in daily operations in the NuMoney retail chain.
Being a very proficient in graphic design, he is NuMoney's internal graphic designer. He is also responsible for
producing digital marketing materials.
Cheryl's Department in Interior Design.
Son Sutoro Andika
CEO of NuMoney Indonesia
Linkedin
CEO of Putra Partners Financial Service who is an investor with 9 years of experience, and a visionary in the field
investation.
His vision is to equip people with better knowledge in the investment world, leading him to start a young investor
a community called Komunitas Investor Muda Indonesia, which now has more than 500 members.
He is also the founder of a stock investment school called Putra Investor School.
Gunawan Aldy
CMO NuMoney Indonesia
Linkedin
Starting its first online business in 2016, Gunawan has successfully expanded his business to E-commerce, Digital
Products, and Digital Marketing Agency.
Gunawan Specializes in Funnel Optimization, Email Marketing, Social Media Marketing, Content Planning,
Copywriting, Traffic Generation, and Analytics.
Ryan Prasetyo
COO NuMoney Indonesia
Linkedin
Ryan Prasetyo's expertise is involved in hospitality, management, and leadership. He has leadership and
management experience in hotel networks around the world such as Ritz Carlton and Four Seasons. His leadership experience
also included in several international companies and conferences around the world.
Ong
Raised in an entrepreneurial family, Ong graduated from Queensland University of Technology. He started his career as a
a sales engineer with a persistent reputation protecting his client's interests. Smart and sophisticated negotiations
marketing strategy merged with uncompromising integrity as a feature of Ong services.
From real estate to stocks, watches, and antiques. Ong is always eager to invest. Ong is very deep
driven by its investment principles - social impact, innovation, scalability, and financial sustainability.
As a firm believer that decentralized digital currencies will essentially change the worldview and use of the world
money, Ong invests most of his portfolio in cryptos.
As a Malaysian and based in Kuala Lumpur, Ong will lead the expansion of NuMoney in Malaysia.
GraphQL API for developers
The original founding team of
NuMoney Exchange comprised entirely of software engineers.
This is why developers will become first class citizens in NuMoney Exchange. We strongly encourage developers to create bots
for arbitration or an algorithmic trade on our exchange.
At launch, our APIs will be fully featured and fully documented.
Like public APIs, our GraphQL API protects against redundant or abusive calls to NuMoney Exchange servers. Bee
will be limited tariffs.
NuMoney Initial Exchange Offering
What is an Initial Exchange Offering?
The way an initial exchange offering (IEO) differs from an Initial Coin Offering (ICO) is that:
1. The token sale takes place directly on an exchange instead of a smart contract
2. The token sold will be immediately be tradeable on an exchange
With NuMoney Exchange's IEO, the differences go further:
1. You will be backing NuMoney Exchange, a ready product, instead of its whitepaper concept
2. Tokens will be sold exclusively via sell orderson the order book
Why does NuMoney Exchange need an IEO?
We are launching an IEO to kickstart liquidity on our exchange.
With a token sale exclusively hosted on NuMoney exchange, we hope that
1. Users will deposit Ethereum to trade for NMX tokens- lead to sell orders for Ether
2. Local users will deposit SGD fiat at our exchange to purchase Ethereum, in order to trade for NMX tokens -
lead to buy orders for Ether
3. Users will register and participate in trading activitiesin exchange for airdropped tokensmotivate
users to join NuMoney Exchange
NMX token sale
For NuMoney's IEO, we will be releasing NMX tokens for sale.
Like
the Binance's BNB token, the NMX token will be used as an alternative payment method for fees (with a discount)
at NuMoney Exchange.
The NMX token sale will be capped low and will exist as a one-time only sale.
For details on fee discounts, and other information about NMX tokens,
click
30 day token sale period
The NMX token sale will be launched soon with a total sale period of 30 days. The token sale will take place on the
ETH-NMX market.
Prior to the token sale, we will be launching NuMoney Exchange first with an Ethereum-SGD pair, so users can trade
SGD and Ethers in preparation for the token sale.
We will be announcing the launch date of the token sale via 2 channels, the IEO Telegram Chat, and our mailing list.
Total cap
We will be minting a total of 1,000,000,000 NMX tokens, with each token priced at USD $ 0.01. This puts the token
sale at a soft cap of US $ 10,000,000.
Token allocation
How will IEO be executed?
IEO will be launched in NuMoney Exchange in the near future. If you have not joined our
IEO telegram group or
subscribe to our mailing list, please stay informed.
NuMoney Exchange will be launched before IEO, so potential buyers can deposit their Ethers into the exchange
in preparation for IEO.
On the token sale launch date, the ETH-NMX market will open. The first 3 days of token sales will be
opened only to whitelisted members.
To purchase NMX tokens, you must make purchase orders in the ETH-NMX market with your ether.
After the first 3 days of token sales, the ETH-NMX market will be open to the public, for that limited token will
released every hour every day, 11 am to 6 pm, for 8 hours a day.
Dutch Auction
In the first hour, the token will be released at an estimated equivalent of USD $ 0.01 (ETH price). If it is
sold out in the first minute, the price in the next hour will increase by 10%.
Conversely, if it is not sold out before the next hour arrives, the price in the next hour will decrease
20%. The lowest price token for sale is US $ 0.007.
Token not sold
Unsold tokens will be burned.
Whitelist-only 3 days token sale
In the first 3 days of token sales, sales only open exclusively to whitelisted users. Whitelisted users are top
300 users with the largest Ether amount saved into NuMoney Exchange before IEO. We will release a
leaderboard when an exchange occurs.
● On the first day, the top 100 users will be able to access token sales, at a discounted launch price
US $ 0.008 (subject to Dutch auction rules)
● On the second day, the top 200 users will be able to access token sales, with prices ranging from 15%
discount (US $ 0.0085)
● On the third day, the top 300 users will be able to access token sales, with prices ranging from 10%
discount (US $ 0.009)
● On the fourth day, the Dutch auction is reset, with the token price reset to US $ 0.01, and the token sale will
publicly available.
80% of available tokens for sale will be sold in the first three days, the rest will be sold in the remainder
sales period.
Lock period
Token can be traded and available for withdrawal after IEO.
Bounties
5% of total printed tokens will be given as rewards for new exchange users. That means, just by
being an early user, you will be given multiple tokens. This is how the tokens will be distributed through the gift
program.
When will the IEO launch?
We will be announcing the launch date of the token sale via 2 channels, the
IEO Telegram Chat, and
our mailing list.
Securities and legality
NuMoney Exchange'sIEO of NMX token isstructured in every way not to crossthe boundaries of being a form of
securities.
For example, event thoughNMX token was inspired by BNB (Binance's) token, we deliberately left out the
concept of burning tokens which might lead to an accelerated scarcity of BNB tokens.
A great analogy of NMX token is to think of it as a 70% discount coupon, for which is sold to early users to kickstart
sales. This coupon can be used to redeem any future purchases, or could be resold to anyone who might have a
big purchase that stands to gain more from the coupon than you do. We have engaged Coleman Street Chambers
LLC in ensuring that the NMX token sale deviates as far as possible from the concept of being a form of securities.
Why should you participate in NuMoney Exchange's IEO?
1. Singapore, and the APAC region badly needs a proper cryptocurrency exchange that has significant
liquidity
2. Singapore, and the APAC region needs an exchange that isresilient to the sways of banks, and we are
able to solve this with cash-onlydeposits / withdrawals
3. When you purchase NMX tokens, you are backing an exchange that has already been delivered on its promise of
building an exchange. In other words, you are supporting a product that has been established
instead of just a viewpoint.
4. NuMoney's core team is comprised of programmers, so you can trust that we can build an exchange that
can scale
5. NuMoney has a track record of delivering promises
How to participate in NuMoney's IEO?
1. Subscribe to our mailing list, and join our
IEO's telegram group.
2. When NuMoney Exchange launches, you can deposit Ethereum in our exchange in preparation
for the IEO
3. If you do not have Ethereum, you can deposit fiat at our office to fund your account to buy Ethereum
4. About a week after the exchange islaunched, we will launch the IEO, for which you can purchase
NMX tokens from the exchange's market
Token NMX
What is NMX token?
The NMX Token is an ERC20 token that NuMoney Exchange redeemed as a token for discounted fees for future transactions
at NuMoney Exchange.
This token is then sold on the NuMoney Exchange token to bootstrap the stock exchange liquidity.
What can I do with NMX tokens?
You may use it as a substitute for transactional fees at NuMoney Exchange.
For example, we recommend you make a purchase order for Monero in the ETH-XMR (Ethereum / Monero) market. You can
choose to pay it in a NMX token at a substantial discount rather than paying a 0.2% mortgage fee on ETH.
When tokens are used, they are consumed and taken from the circulation of the open market (and burned).
How does the discount work?
The NMX Token lets you pay 3x of its own value in cost.
For example, if 1 cost is NMX 1 ETH, you can choose to use NMX token to pay 3ETH fee.
The token equivalent value can be found in the [coin] / NMX market. For example, we will use the last sequence
in the ETH-NMX market to get an equivalent value for NMX in ETH.
Here's a complete example:
● Users make 100,000 ETH sell orders to SGD, and the price is 200 ETH infees
● Users choose to pay with NMX tokens
● 1 NMX token is 1 ETH (in ETH-NMXmarket)
● Approximately 66.6 NMX tokens will be consumed to complete the order
Partnership
Supported by Institutional Investors
Investor profile
Thomas Chan is Founder and Managing Director of Golden Summit Capital, a private investment company based in the United States
Singapore. He has over 20 years experience in Investment Banking and Investment Management. Previous
to establish Golden Summit Capital in 2010, Mr. Chan is Managing Director at Goldman Sachs and has served
in some senior roles within the company.
In addition to public and private capital market investments, Golden Summit Capital has been an active participant
in the venture capital arena, focuses primarily on seeds to the early growth stage. The company also manages diverse
real estate portfolio in Singapore and other parts of Asia and Europe.
Mr. Chan holds a Master's degree in Business Administration from the University School of Chicago Booth and a
Bachelor of Arts in Economics from Stanford University.
Golden Summit Capital led the seed round for NuMoney in November 2017.
NuMex Sdn Berhad in Malaysia
NuMex Sdn Berhad, is a NuMoney business entity in Malaysia led by Ong, a Malaysian native based in Kuala
Mud.
Ong will expand NuMoney's operations to Malaysia, starting with Kuala Lumpur. Operations include OTC sales,
as well as deposits of fiat ringgit and withdrawals for NuMoney Exchange operations in Malaysia.
We expect NuMoney operations to start in Malaysia officially in April 2018.
NuMoney in Indonesia
Andika Sutoro Putra encourages NuMoney's expansion into Indonesia. We hope
launched in Jakarta in April 2018.
Aggressively developing in APAC in Q3 2018
NuMoney Exchange Playbook is straight forward:
1. Build a regional physical infrastructure from local offices / retail-chainsthatserve as a customer service center
for fiat deposits and withdrawals at NuMoneyExchange
2. Support as many couples as possible
In 2018/2019, we hope to expand further into the following areas
1. Thailand
2. Taiwan
3. Hong Kong
4. Vietnam
5. Philippines
6. India
7. Australia
Compiled by IEO team NuMoney Pte Ltd on February 1, 2018:
1. Darren Mok
2. Neo Li Hui
3. Steven Goh
NuMoney Pte Ltd
6 Harper Road, # 02-07, Singapore369674
Registration number: 201735632M
Contact us at:
hello@numoney.store
THANK YOU HAD READ, PLEASE JOIN IN THIS SUPPORTABLE PLATFORM FOR MORE INFORMATION PLEASE VISIT THE SITE BELOW:
WEBSITE:
http://www.exchange.numoney.store/
WHITE PAPER:
https://num-web-cms-production.sgp1.digitaloceanspaces.com/NMX_16_March_2018.pdf
MAIN THREAD:
https://bitcointalk.org/index.php?topic=2862098.0
NuMoney Exchange Testnet:
https://exchange.numoney-staging.com/
AUTHOR: alam semesta
my wallet ETH: 0x48d4046C142202c12415823C2A654106215024E9
MY BITCOINTALK:
https://bitcointalk.org/index.php?action=profile;u=1489935
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