Written by Logan Smith

On October 15, 2021

Every Q&A from the massive AMA on r/Cryptocurrency

We recently had an extensive and exciting AMA on r/Cryptocurrency, the largest cryptocurrency community on Reddit, and we had an amazing time! Our CEO, Marshall Hayner, joined by our Senior Executive Lee Woolley, answered questions, shared announcements, and spread a little bit of that Metal energy that seems to be growing every day. Plus, we gave away XPR for the best questions!

If you’d like to visit the original AMA thread on r/Cryptocurrency, just follow this link! Below will be a copy / paste of every question that Marshall and Lee answered, presented in order of the amount of upvotes they received.

**Note: While some questions had crucial typos corrected to make the wording easier to understand, most minor typos were left as-is.


Question: “Will the LOAN token become available in Proton Swap?”

Marshall: “LOAN token will become available in Proton Swap very soon!


Question: “Is Metal Pay a competitor? What other competitors are in the space as we get closer to adoption?”

Marshall: “Metal Pay is created by Metal (Metallicus Inc.) the core developer of Proton, not a competitor. Metal Pay will be integrating Proton blockchain into the platform with mainnet soon!”


Question: “Couple of questions:

  1. Most of the DeFi space has already been captured by Ethereum, L2 chains, and now even Solana, Polygon etc. How will you as a new entrant make your inroad into an already competitive market?
  2. What regulatory concerns do you see that could stifle this industry, and how do you plan to deal with them? Already, quite a few states like NJ, Kansas etc have banned crypto loans. If other states follow suit, it could put a stop to the industry. What are the plans to deal with this kind of regulatory reaction to innovative crypto products?
  3. From Metal, is there any body or association that is working closely with the regulators? You mentioned Comptroller of currency has to approve the bank, will there be a lobbying effort?
  4. How do you feel the recent proposed crypto laws will affect the crypto industry? Both the reporting laws in the Infrastructure bill, and the upcoming standalone Digital Asset Bill. What are the big changes that will happen to the industry after these laws come into effect? As a company operating in the space, you will have more information on how exactly these laws will affect the crypto space, rather than just traders and investors”

Lee: “All are very good questions, I’ll just say the following, mostly around questions 3 & 4…. We have (and will) work very closely with any regulator to ensure that we’re adhering to the highest regulatory standards. This means periodic discussions with various regulatory bodies. We also support the proposed Cryptocurrency Act of 2021 – we believe it represents a fair balance between regulation with innovation.”


  1. “I think what really differentiates Proton is the introduction of xTokens, similarly to WBTC on Ethereum, Metal has created all of the major blue-chip cryptocurrencies on one blockchain (Proton) that can interact with one another for relatively no fees. Additionally, the ability for smart contracts to communicate with traditional financial institutions and banks stands out as a game-changer.
  2. Metal as a company has been very active in working closely with regulators, introducing legislation with the Cryptocurrency Act 2020, and continues to work on this front. The key is regtech built directly into the core protocol of the blockchain and Proton is doing just that. Build the tools, be thought leaders, preserve the trust and transparency of the blockchain while architecting for the future.
  3. Metal works closely with several 501(c)(6) lobbyist firms.
  4. I echo the statements of Senator Pat Toomey in regards to the Infrastructure Bill. There is some great legislation being worked on in Washington (ex. Congressman Tom Emmer with The Securities Clarity Act). It’s important for industry leaders to step up and be active in this space to preserve the future of blockchain innovation in America.”



Question: “Will you be adding features to protonmarket.com to allow display of more than just the front page, being able to see more creations and creators would be great. NFTs also have the potential to tokenize physical assets, I think one of the greatest potential use cases, do you plan on supporting larger file sizes or physical assets? Thanks for the great project and AMA!”

Marshall: “We are glad you like Proton Market! We plan to add more features in the future such as bidding, multi-currency, user pages, unlockable content, larger file sizes, and more!”


Question: “Hey Marshall! I was wondering how things were coming along with Metal 3. Also I was wondering when we could expect new crypto pairs to be established for trade? Glad to hear from ya!”

Marshall: “Things are coming along great, we should have some updates very shortly for Proton mainnet and xTokens in Metal Pay. We are very excited to be one of the first processors on the network with Metal. New crypto pairs are coming to Proton Swap and Metal Pay!”


Question: “Hi Marshall and Lee, Is there a plan for Metal/Proton to incorporate a DAO to more formally include the community on decisions where it makes sense ? I personally believe DAOs will replace corporate governance structures in the future as soon as someone figures out how to do it well ;)”

Marshall: “I love this idea, and I completely agree DAOs will “eat the world”. Currently, Proton has the Proton Consortium DAO but this is a select group of Block Producers elected by the community through staking. We have begun work on a voting mechanism that would serve as the foundation for a community-driven Proton DAO along with decentralized identity for consumers/businesses. Metal Dollar will have its own DAO for making governance decisions around Proton’s native stablecoin XMD.”


Question: “The ambition of being the first blockchain bank and trust is ambitious given how global market is yet skeptical towards crypto as a whole. How do you see Metal being the first choice when the adoption happens and what Metal is doing to ensure the movement towards that step?”

Lee: “Yes, our plans are ambitious. Thank you! 😁 We believe that federal oversight is coming – and rightfully so. There’s a reason why the world looks to the US and the USD as a source of stability. We embrace our role as a disrupter, but within the context of prudent oversight. Hopefully, our adherence to the regulatory rules of the road will reduce “skepticism”!”


Question: “We know that Metal Pay’s goal is to be a cryptocurrency bank. What are Proton’s long-term goals? ⚛️”

Marshall: “Proton seeks to become the interoperable L1 blockchain for banking and payments that connects TradFi to DeFi for every major blockchain. Long term we would like to see every major bank and fintech company look to adopt Proton for identity and cryptocurrency payments (xTokens). Additionally, Proton leading the emergence of decentralized finance connecting legacy institutions, DAOs interfacing with traditional finance in a regulated manner.”


Question: “Hey! I tried the Proton swap and wallet, and it’s quite simple and intuitive to use. The project sounds like a nice idea. A couple question about things I didn’t understand.

  1. Since you’re offering lending services, can that make you vulnerable to problems with regulatory bodies like SEC?
  2. And how does your project differ from something like NANO without its transaction fees and instant transfers?”

Marshall: “Nano is based on a novel DAG called Block Lattice. Proton is based on Delegated Proof of Stake, one of the core differentiators is smart contracts and governance on Proton that allows a very similar environment to Nano is currently about 1300 TPS while Proton is about 4000 TPS. They are both great blockchains for fast and fee-less transfer! One thing that really stands out about Proton is the decentralized identity protocol, swapping, lending, and fiat payment messaging to integrate into traditional payment systems whereby smart contracts can communicate.”


Question: “Does Proton Chain have a mobile SDK?”

Marshall: “Yes we do! Check out our React, Swift, Kotlin and Web SDK here: https://docs.protonchain.com/sdk/


Question: “Love the Proton ecosystem – congratulations on what you have built and thanks for doing what you’re doing! Can you explain the relationship between Proton (XPR) and Metal (MTL)? Why are both needed? Thanks!”

Marshall: “Proton is the Layer 1 blockchain that provides fast and fee-less transactions with xTokens, decentralized identity, swap, loan, market protocols. XPR the native token is used to stake/vote for BPs, purchase resources on the network, and register new accounts/domains.

Metal (MTL) originally distributed through PoPP (proof of processed payment) is a blockchain agnostic token originally launched on the Ethereum blockchain (ERC20) and now migrated to the Proton blockchain through cross-chain bridge. Metal (XMT) is governance for Metal Dollar (XMD) a decentralized stablecoin, comprised of a basket of stablecoin currencies and managed by a DAO of XMT voters.”


Question: “Is there any potential for XPR to create partnerships with current fiat based banks, and maybe even eventually for Proton to buy smaller fiat banks and incorporate them?”

Lee: “Hmm… really good question…. the answer is clear, but I best not answer. 😉”


Question: “Hi Marshall & Lee, given the complexities of Brexit, what is your intended route into the UK market and when can we here on this lonely little island expect to be able to use your products? Please don’t forget us 🥺 Thank you kindly.”

Lee: Your lonely little island may feel neglected, but it has not been forgotten. Unfortunately, I don’t have an eta yet. Maybe Marshall knows more?”

Marshall: “Certainly not neglected! We are applying with the FCA.”


Question: “Very cool!”

Marshall: “Thanks, we think so too!”


Question: “There was a project on Proton Wallet called Interest. daily interest was coming but not coming for a long time anymore. Has this project been cancelled?”

Marshall: “That was an early test of interest payments on-chain. I think it’s a little too early to say anything here 🤐”


Question: “What are your actions to take to make crypto more accessible for normal people? Your wallet for example with readable crypto addresses is a great start, but what else?”

Lee: “I believe that accessibly will be enhanced when we’re able to join the traditional financial system. Yes, we need to make UIs easier to use (so my Mimi can figure it out), but that’s only step one.”


Question: “Hey Marshall, In your opinion what is the greatest movie ever made. Thanks and have a nice day!”

Lee: “Ok… I know this was for Marshall, but I’m voting for “Aliens”.”

Marshall: “I’m going to have to go with The Matrix!”


Question: “Metal pay is currently unavailable in the United Kingdom. Banks are becoming increasingly anti crypto here going as far as blocking deposits and withdrawals to some exchanges. Are there any plans to expand into this territory?”

Lee: “Yes. Definite plans to expand into the UK and European Union.”


Question: “Which type of question you consider best for giveaway?”

Lee: “I’d vote for this question if I had a vote. 😉”


Question: “Hello! I have recently discovered Metal Pay, Proton, and Marshall Hayner! I think the things they are doing is amazing. I know with all the regulatory uncertainty facing the crypto space right now it must keep the team on their toes. You guys seem to be working with regulators. Do you eventually think interoperability will be the path forward once the smoke clears? Any opinions on how you see CBDCs being integrated down the road! Thanks! Pick me! Pick me! Good luck to the team!”

Marshall: “I think interoperability is the ONLY path forward. Another aspect that is very important for the future of crypto that few talk about, is the regtech and core level protocol integrations that allow stablecoins to be compliant in banking and payments. This is absolutely critical and few people talk about it, I guess because it is “unsexy” but in my opinion, it’s the next massive crypto wave about to hit.”


Question: “How do you stand out to your competitors like spark?”

Lee: “We have a brilliant team of developers and engineers with tremendous creativity led by Marshall. We’re committed to disruption, but within the context of regulatory-embracement (made that concept up). This alone will help distinguish Metal from the crowd. 😊”


Question: “What is your estimated timeline for the bank and trust?”

Lee: “I wish I could give you a specific answer, but alas, I need to be careful in what I say. If we apply for a charter, we’d need some regulatory clarity. The regulators I’ve met thus far have been overwhelmingly constructive, inquisitive and open to new ideas – while placing the highest priority on the safety and soundness of the system.”


Question: “If you were to design a companion product for Proton and name it “Electron”, what do you envision that product being? Is there any plans to extend “the nuclear theme”?”

Lee: “We will see 😁”


Question: “Hello! When do you guys plan to reapply for your full banking license? What are the issues you would be facing in order to make sure it will become fully approved?”

Lee: “Good question. Unfortunately, it’s a question that I feel that I can’t answer directly. There’s still a fair amount of uncertainty in the regulatory environment. Please stay tuned!”


Question: “How will users be able to use NFTs for their utility (such as admission tickets to events)? What will that look like on the smart contract side?”

Marshall: “We have some exciting announcements coming on this exact topic!”


Question: “How are you decentralized?

  • you have KYC
  • you don’t mention staking or mining within your blockchain. So how is it secured?”


  • “KYC/KYC on-chain is a protocol and can be attested by other providers such as Coinbase, PayPal, etc (Metallicus is not the only entity doing attestations)
  • Proton is secured through delegated proof of stake consensus and supports both staking/mining, read more at Protonchain.com”


Question: “I love what you guys have done with Proton and the ecosystem. My question is about the rapidly growing NFT marketplace and the issue of verification of artists and their collections. Is there a system in place to protect the integrity and authenticity of hardworking artists and art enthusiasts from the fraudulent activities of scammers?”

Marshall: “This is something we have the foundation in place for (decentralized identity) but we have not implemented yet with Proton Market. In the future, a combination of tight moderation and verified identities will help solve this.”


Question: “Human readable names can be squatted on , and can be resold at exorbitant prices, making it hard for actual users to acquire them as a result of this gate keeping. Are there any steps to prevent this ? Squatting especially would be bad, as some early users could snap up all the high value names and then try to sell this at a higher price to the actual users/companies/people behind the names.”

Marshall: “This is kind of the way it is with web domains now. One solution we have is the domain system on Proton in which the Consortium will introduce new domains, those domains can be restricted to certain issuers, ie .com .org .edu, recently we introduced .xpr similar to ENS so users can proudly show their Proton accounts on Twitter, Instagram, TikTok, etc.”


Question: “Marshall and Lee, perhaps a more personal question! What do you do to relax and rejuvenate those creative juices and how has working in the crypto industry affected your day to day life?”

Lee: “I go running in Montana.”

Marshall: “I love to meditate and ride my Onewheel, where some of my best ideas flow.”

Lee: “Also… working in this industry, with such a great team is rejuvenating (nearly) everyday! I’m sooo enjoying our role as an institution attempting to lead the way in the integration of traditional banking with DeFi.”

Marshall: “Seconding this. Working with an amazingly passionate team building new technology that can positively impact the world is inspiring! The community that has developed around Proton and Metal drives the energy at Metal, and that energy feels magic.”


Question: “If proton has no tx fees, how do you incentivise mining, prevent spam txs and secure the network?”

Marshall: “Please see my answer here: https://www.reddit.com/r/CryptoCurrency/comments/q5xztf/comment/hgb90ly/?utm_source=share&utm_medium=web2x&context=3


Question: “I had an issue swapping $XPR into $XMT, and it seems that 25,000 $XRP are lost. Do you have any customer service I can contact either in Proton Wallet or in Alcor’s side? Beyond that, nice project! I am looking forward to seeing the forthcoming steps!”

Marshall: “Thank you for the compliments! Our support team should be able to help you resolve this issue: support.protonchain.com or email support@protonchain.com


Question: “Which legal hurdles are still in the way for becoming a bank and trust? Will we soon be able to use Metal or Proton as a means of direct depositing paychecks from employers?”

Lee: “Regulatory clarity is the main issue at this point – for anyone attempting to merge traditional finance with digital assets.”


Question: “Will the role of the traditional financial system decline due to the development of cryptocurrencies such as this project?”

Lee: “Not so much decline as “evolve”.”


Question: “This is a question regarding Proton! Many people who start to research Proton will find that it is a fork of the EOSIO blockchain, which namesake has left a sour taste in early investors of EOS. Not many people know that EOSIO is not EOS which is not Proton, and can assume various things about Proton that they attribute to EOS. While Proton has marketed some great value-added services such as DeID and wrapped xtokens among many other things, little has been mentioned about the underlying technology.
What sets Proton technologically apart as a fork of the EOSIO blockchain from EOS and other known EOSIO networks (like WAX, Telos and WORBLI) and what has Proton done to address some of these known issues (technology and governance wise)?
Thank you!”

Marshall: “This is a really great question. I think if there is anything cryptocurrency has taught us, my co-founder at Metal, Glenn Marien, and I know – it’s the importance of community. Glenn and I met through Dogecoin where he built the first Dogecoin Wallet Dogechain.info. Community is what defines a cryptocurrency, without community, it is impossible to grow. So with that in mind first and foremost I think Proton and Metal have one of the most impressive, thoughtful, welcoming communities in crypto. Many people say this, and I think the sentiment is growing in crypto, Proton is a welcoming place. In terms of governance, this was one of the first things we addressed with Proton, we modeled the governance around Hedera Hashgraph (you can read more about it here: https://www.protonchain.com/governance) which creates a steering committee called the Proton Consortium who proposes key WPS to grow the ecosystem. Another element that is very important is the introduction of decentralized identity for consumer and business, as the BPs are expanded KYB will needed to enter which eliminates the shadow BP scenario and collusion. We believe in the concept of DAOs and are seeking to create a community-wide voting system that can expand beyond BP rank voting for staking but into other core governance and technical decisions, all leveraging DID of course. In terms of the technology we are currently focused on the core protocols: DID, Swap, Loan, Market, Fiat protocol. While we are perfecting these areas we are looking to push EOSIO further similar to Telos by adding the EVM, additionally seeking to increase the throughput speed of transactions beyond 4,000 TPS.”


Question: “The proton community is one of the most supportive I’ve ever seen for a coin because of this wonderful project. Did you ever expect this much support? How do you plan to market in the next coming months? Thanks :)”

Marshall: “We’ve always had incredibly warm welcoming and passionate community members in XPR and MTL communities and there is a lot of cross-over. I think this spark started in Dogecoin where Glenn and I met. That ethos of Do Only Good Everday, lives on and I hope someday permeates all of crypto! I’ve loved seeing the Proton community grow tremendously over the past few weeks and seeing our longstanding members welcome in everyone with open arms. Community is everything in crypto, and we’ve got it in spades!

In the spirit of our strong tribe, the upcoming marketing campaigns are heavily focused on utilizing the community and our ability to be louder as one voice!”


Question: “Are there any partnerships coming soon to Proton?”

Marshall: “Many, soon!”


Question: “Will you be legally working with the banks as many crypto exchanges are being regulated by the governments?”

Lee: “While I can’t divulge too much regarding our business plans, it has been pointed out that we previously applied for a bank charter. So yes, if we proceed down that path – operating seamlessly (and legally) between traditional banking and cryptocurrency would be key!”


Question: “Are you related to professor proton?”

Marshall: “How did you figure it out? Just call me Arthur, I’m a figment of your imagination.”


Question: “How did you guys come up with the name Proton?”

Marshall: “That’s a really great question…
We were sitting around the office and started to think about a name that would represent a blockchain that is the first of its kind and also the fundamental building block of the future of web3. The etymology of Proton is derived from Greek meaning “first” and additionally is a subatomic particle present everywhere. We thought it made a lot of sense!”


Question: “As a long-time MTL holder, I feel that MTL is taking a back seat to XPR, and all the new, but awesome Proton developments. It seems that MTL is a coin with a diminishing use case, now that POPP has been eliminated. I am sure you feel differently about MTL. Please enlighten us on how MTL will be a valuable coin in the Metal/Proton ecosystem.”

Marshall: “MTL, initially distributed through PoPP is evolving to encompass Metal Dollar (XMD), a decentralized stablecoin on the Proton blockchain. XMT (MTL on Proton) is the governance token which is used to determine: stablecoins allowed access to the pool, stablecoin allocation in the pool, entry/exit fee cost in XMT, and future features of Metal Dollar (XMD). XMD is equivalent 1:1 to any stablecoin in the basket can be moved fluidly between other stablecoin (ie USDT to USDC) this is similar to Curve Finance in some ways, but it is multichain through the xToken bridge and provides interest to a basket stablecoin XMD.”


Question: “What is the best feature of/your favourite thing about Proton?”

Marshall: “Decentralized Identity (DID) and fiat payment messaging, hands down. xTokens and all the protocols: swap, lend, mint, etc are very cool. That being said one of my favorite applications of Proton right now is WebAuth.com utilizing WebAuthn protocol to essentially turn your web2 experience into a web3 experience without any plugins or separate applications (true native).”


Question: “Can you walk us through the FDIC approval process and why when approved this will be a distinct advantage over other similar coins.”

Lee: “Good question. The approval process is lengthy – think months. The advantage for any bank (we are not currently a bank) is that fdic insurance on certain US Dollar deposits – gives depositors comfort that those deposits are insured to certain levels. Note: in no instance are cryptocurrencies insured by the FDIC.”


Question: “What is being done to address recent wallet slow downs?”

Marshall: “We have some very interesting exciting announcements coming on that, I won’t spoil here.”


Question: “Do you see a series of localized currencies forming around industries prevalent in certain areas?

I think of the various farming industries, we’re pretty specialized where I live, and that makes it easy for me to imagine something that gives us more local control over say… pork production and the various markets that arise from that?

There is always competition, but if monetary policy is decoupled from state boundaries, more natural bargaining blocks could form.

It would interact interestingly with how tax laws incentivize certain industries even though across the river the exact same conditions exist, but no one there farms the same crop because tax incentives create an artificial boundary.”

Marshall: “I think this is a very interesting concept, and we’ve seen things like this with certain types of scrip tokens, specifically community currencies like the Ithaca Hour. I think what is more interesting is the emergence of smart contracts and DeFi and how they can be used to create decentralized DAO driven currencies into the future (ie. Metal Dollar / XMD).”


Question: “Proton/Metal Pay has many similarities with crypto dot com eg. Exchange, Credit cards, Non custodial wallet, NFTs, Borrowing/Lending etc. can you give us some unique advantages or features that Proton has over something like crypto dot com? “Sell me this pen… ah I mean Proton” lol 😂”

Marshall: “Proton mainnet has been live for a while and has grown a community of developers and holders, whereas Cronos mainnet isn’t live yet. I would say the first differentiator is that Proton is designed for payments with a decentralized identity protocol (DID) and protocol for fiat payment messaging. Cronos seems to be more focused on DeFi and Cosmos/Tendermint ecosystem. Proton is more of a multichain approach and based on EOSIO. Transaction speed is similar, 4k TPS for Proton and 10k TPS for Cronos/Tendermint (both require an L2 solution to get into the tens or hundreds of thousands of TPS). Proton also has demonstrated wrapped xTokens and DeFi protocols: Swap, Market, and soon Loan. Proton is a lot further ahead in terms of technology and is just starting to really grow.”


Question: “XPR one of the best projects right now.”

Marshall: “Seconded.”


Question: “XPR is the future.”

Marshall: “Indeed, it is. The future is now.”


Question: “What is your biggest competitor and why do you think your project is unique?”

Marshall: “I don’t know if there is any one particular competitor doing something similar to what we are doing. I’ve mentioned in the past Facebook for Diem (fast/free compliant stablecoin payments) but I’ve heard recently Proton compared quite a bit to Cardano. I also see some parallel to Celo and their mobile-first blockchain as Proton is also mobile-first.”


Question: “How is your company different from other companies and why should I choose to support you?”

Marshall: “Stick around and find out. Behold the power of Soon.”

Question: “What is Soon?”

Marshall: “A state of mind, a lifestyle, zen.”


Question: “What are your thoughts on the US government’s view of crypto? How are we going to tackle that hill? What happens if the government doesn’t allow services like Proton Lend?”

Lee: “My thoughts… the US government has a lot of very bright, thoughtful regulators and legislators that truly want to protect the safety and soundness of our system, but are also open to new ways thinking. We want to work with these public servants… to find solutions. And keep the US competitive in financial services globally.”


Question: “Is Proton blockchain decentralised?”

Marshall: “Indeed it is, with BPs from all over the world: United States, New Zealand, Ukraine, Canada, Australia, Germany, India, Netherlands, Spain, Sweden, Brazil, South Korea, China, United Arab Emirates, United Kingdom, Argentina, Venezuela, Russia, and more soon.”


Question: “What has been Proton’s biggest obstacle that you’ve successfully overcome?”

Marshall: “I think one of the biggest obstacles for all cryptocurrencies, not just Proton, is growing community and adoption. Recently, we started to really grow organically, and I feel cracking that ice on finding that initial momentum within the crypto community is the most difficult. I’m proud to say Proton is rapidly growing across social channels and recently ranked #4 on Lunarcrush and appeared on Coinmarketcap trending pages.”


Question: “Can you explain your Tokenomics/Distribution? How many tokens will be minted? And how many tokens will be locked by the team?”

Marshall: “You can check the blockchain supply here: https://www.protonscan.io/supply
3% inflation per year, 1% goes to BPs to secure the chain, 1% goes to short stakers, 1% goes to Proton Consortium (grants for open-source development of Proton)
Proton Swap, Market, and Loan generate fees on-chain which are burned. Read more about XPR token burns here: https://blog.protonchain.com/the-first-xpr-token-burn-is-complete-adding-a-deflationary-measure-for-proton/


Question: “I know you are currently working on becoming the first block chain bank, what are your thoughts in regards to the future of DeFi when it comes to stocks, bonds, real estate and other assets?”

Lee: “DeFi has numerous applications across the financial services industry, that said, much of the financial services industry has already gone “paperless” (remember paper stock certificates – I do). Now… think about your last mortgage. There’s an industry that needs DeFi badly.”


Question: “What makes Proton different/better than something like Solana? I like Proton, I’m invested in it, but I’m curious to hear your thoughts on why Proton will break out of the space when there are a number of other chains attempting to fill a similar role.”

Marshall: “I think a major differentiator is having access to every blue-chip cryptocurrency (xToken) over a bridge that provides an environment for anyone to immediately transact with NO GAS fee to a human-readable account name. Also with WebAuthn integration through WebAuth.com anyone can now use Proton without downloading any software or ever leaving the web.”


Question: “The first thing I notice is the 0 gas fee and I wonder: How do you prevent people from spamming the network? Is it similar to NANO? Gas is a way to keep only meaningful transactions on a network and I’m really interested in how you guys would manage to do that.”

Marshall: “Proton has a novel approach to governance and resources. Modeled after Hedera Hashgraph’s governance (read more here: https://www.protonchain.com/governance). The open governance forms the Proton Consortium which receives 1% of inflation grant of the chain for various activities, including growth of the network, that are delegated as resources to new accounts (in the example of Proton Wallet, Metal Pay and Bitcoin Libre). It’s more of a fee-less environment through governance approach. There are resource fees on Proton network, albeit extremely low, and they can be accessed from https://protonresources.com


Question: “Will there be an option to hide transactions or portfolios from the public?”

Marshall: “In the world of traditional banking, you don’t share your personal transactions with the world, so why should on the blockchain? It doesn’t mean we can’t have compliant transactions that work within the framework of the BSA and banking in the United States on blockchain without violating your privacy. We are working on this technology in a way that protects your privacy, adhering to GDPR, CCPA and other consumer protection privacy protection laws, as well as anti-money laundering and know-your-customer laws and it will be powered through decentralized identity (DID on Proton).”


Question: “You said in the past Facebook is one of your biggest competitors. And that Proton most likely being watched by Facebook, because proton pioneered the crypto banking technology and continues to lead the path. But wouldn’t it be smarter to enter into a partnership and thus achieve a large adoption of Proton?”

Marshall: “Careful what you wish for!
There are not many doing what Proton is doing but Facebook is focused on creating payment rails with stablecoin, Proton is doing something similar with xTokens and Metal Dollar (XMD/XMT), but it’s really much more than that with Proton…
Imagine a future in which Diem could rest inside the basket of stablecoin for Metal Dollar! That future is Soon…”


Question: “Will more apps like BitcoinLibre be developed to support fee-free trading using Proton’s blockchain?”

Marshall: “Yes, we expect many more in the future. Bitcoin Libre highlights Proton’s strength with xTokens, it is incredibly easy to onboard new users with micropayments of Bitcoin and other cryptocurrencies, next we predict more stablecoin applications!”


Question: “How do you guys plan on competing with other current/future blockchains that have a higher TPS? Will there ever be an increase put in place to raise the current 4,000 TPS if necessary?”

Marshall: “Absolutely possible to bring Proton higher than 4k TPS with L2 scaling solutions. As it stands right now, many blockchains are focused on the highest throughput of transactions with the fastest settlement time, and unfortunately many have sacrificed true decentralization to achieve it. Proton’s approach is scalable and ready for mass adoption now, use every major cryptocurrency on Proton with no gas fee, human-readable names at 4k TPS with finality in seconds.”


Question: “When will you have access to the BSC chain in order to save the transfers made incorrectly?”

Marshall: “Our engineers and support team are working as fast as they can to resolve your issue, rest assured all funds sent to the wrong address (Ethereum ERC20 assets sent to Binance smartchain) will be retrieved.”


Question: “I am very bullish on ALGO, I intend to hold my ALGO bag for at least 2-3 years. I love the following things about ALGO:

  1. Minimum 12% APY (Rewards + Governance)
  2. Silvio Micali – Winner of Turing award in Cryptography
  3. TPS to be soon upgraded to 46000 (without sharding)
  4. Carbon Negative Status
  5. Partnerships + Current Market Buzz

My Question : Based on the above points can you convince me to move over to Proton from ALGO?”


  1. “81% APY on Proton Swap XPR XUSDC farm
  2. Syed Jaffri – Created EVM on EOS and the #1 Block explorer for EOSIO Bloks / Protonscan
  3. TPS for Algo currently 1,000 TPS currently for Proton 4,000 and we are both making progress in scaling both further, you make the call there…
  4. Extremely low carbon emission
  5. Just getting started…
  6. Gas-less transactions
  7. xTokens for every major blue chip cryptocurrency
  8. Decentralized Identity (DID)
  9. Proton Swap
  10. Proton Loan
  11. Proton Market
  12. Fiat payment messaging

Should I keep going? 😁”


Question: “Regrading your “Proton Has Completed Our Custody Platform Migration – Action Required before Oct.15th”

Does this apply to those who acquired XPR through Exchanges/Custodial wallets- i.e.- Metal Pay or KuKoin?

Also Congrats on winning Coinmaker from shoppin.io(I voted for BABB..just kidding, Proton all the way)- With XPR now be accepted for shopping.io(at least for a year) – purchase items through the likes of Amazon, Walmart, Etsy and such… Is there any new expansions/collaborations to further Proton’s exposure to the masses?”

Marshall: “The custody migration only applies for xTokens (ie. XBTC, XMT, XETH, etc). We have many planned partnerships in the works! We were very excited to see Shopping.io add XPR, we expect many similar integrations in the future. We think it’s important because xTokens on Proton really highlight how cryptocurrency can be used seamlessly in the retail e-commerce experience.”


Question: “Can you integrate with thorchain which enables native swaps?”

Marshall: “I believe we can 😎⚛️”


Question: “How close are we to becoming a physical bank? This is my favorite crypto project by the way”

Lee: “Delighted to be your favorite! Thanks! I can’t say too much about our plans, but if we were attempting to become a bank, we’d be working our tails off to get there as soon as possible.”


Question: “I see Metal has plans to apply for a national bank charter from the OCC. Attempts at future regulation in the space is inevitable. What concerns do you have about crypto regulation going forward?”

Lee: “I see Metal has plans to apply for a national bank charter from the OCC. Attempts at future regulation in the space is inevitable. What concerns do you have about crypto regulation going forward?”


Question: “I believe that digital assets, blockchain tech and government regulation are inevitable in financial services – we want to take advantage of these certainties and be squarely positioned at their intersection.”

Marshall: “I see Proton as synergistic to exchanges like Coinbase and Binance. There are many potential opportunities for partnership from: Digital Identity (DID), xTokens, Authentication, and fiat on/off ramp, all of this made possible simply with WebAuth.com utilizing WebAuth protocol.”


Question: “Will there be a straightforward way to purchase cryptocurrency with fiat through Proton wallet without the crazy processing fees? as simple as making an online purchase?”

Marshall: “Yes, very soon you will be able to add fiat to your Proton Wallet as easily as making an online purchase or using tap to pay. Also worth noting Metal Pay will also integrate Proton mainnet with xTokens!”


Question: “If one of your decentralized services sends more coins to a wrong address for whatever reason, would you threaten to report the recipients to the IRS like certain other crypto ecosystem CEO’s?”

Marshall: “Dear Lord, no, never. No threats, only love.”


Question: “As Proton will act as Bank Ecosystem of Crypto, is it will act like Paypal? Which could deposit and withdraw directly to local bank?”

Marshall: “Interesting question… I would respond by saying that PayPal will act like Proton, and hopefully integrate and join Proton Consortium 🙏🏼”


Question: “What’s the best way to accept crypto at a flea or farmers market?”

Marshall: “Download the Proton Wallet or Metal Pay, Print a sign “Cryptocurrency accepted here! XPR, MTL, BTC and more” When someone approaches you and asks to checkout with crypto pull up your deposit QR code in Proton Wallet or Metal Pay. Check the blockchain for the transaction when the user sends it. Metal Pay will give you an instant notification on zero confirmations. Hopefully in the future we will see every major provider integrate xTokens so we can have lightning fast and fee-less transactions ⚡️
Ps. xTokens coming to Metal Pay soon!”


Question: “Q1 . Is there any coin you want to use as the basis for proton chain?

Q2 . I wonder if proton plans to be used for Metaverse.

Q3 . Long staking has ended due to inflation issues, is there any other staking product scheduled to be released?

Q4 . With the development of webauth.com, it seems that payment using webauth will be possible on the web page, so are there any plans to support the payment system in the form of api or web page?

Q5 . Regarding the webauth project, are you willing to provide basic sample sources such as github?

Q6 . 3rd quarter ended and 4th quarter started. Can you update the roadmap?

Q7 . I’m curious about the current progress of proton. I wonder how much Proton was scheduled to be used in Metalpay, such as MTL to XMT in Metal, firstblockchainbank…etc

I’m Web junior developer who supports proton, studies, and is with proton.⚛ Thank you for reading the question. I’ll be rooting for you!”


  1. “XPR of course!
  2. Absolutely, we have big plans for the Metaverse and how Proton can be seamlessly used in AR/VR (little hint right here: https://twitter.com/protonxpr/status/1446014203114840066?s=20)
  3. Not currently, but we will certainly explore new and exciting concepts like Long Staking in the future with Proton.
  4. Yes! This is the vision with WebAuth.com (identity, payments, security) all wrapped into a simple package, expect developer docs soon.
  5. Examples will be published with the docs!
  6. We plan to get fiat and Proton Loan live first and then we will update (https://blog.protonchain.com/update-on-proton-loan-and-protons-first-native-fiat-integration/)”


Question: “Being new to the crypto space, finding $XPR has been a pivotal coin to my learning phase, the ease of use and future ventures are undeniable. Benefitting from partnerships such as the shopping.io how do you plan to target and market directly to other new crypto users like myself who will also feel comfortable with $xpr as a first project to invest in?”

Marshall: “I love reading posts like this! Proton’s goal is to make crypto simple and easy for anyone to use. We are focused on finding partners who can directly benefit from this technology, speed, ease-of-use, fiat on-ramps, trading, lending, and decentralized financial services with all major cryptocurrencies on one network. For new crypto users, we plan to integrate with major partners who have a large consumer reach, after all, name a bank or fintech that doesn’t want crypto deposits with free transfers and trading?

Forgot to mention: who also wants to do away with Authy/Authenticator and SMS 2FA? I know I do. Hint: WebAuth.com”


Question: “Are you guys different from protonmail?”

Marshall: “Not affiliated with Proton Mail.”


Question: “Yield Farming XPR/USDC has been an exciting way to produce value while holding and supporting XPR, and a good hedge to short staking, although coming with the risk of impermanent loss with the volatility in the pairing.

It also has clearly encouraged producing the liquidity needed to provide easy USDC/XPR exchange on the marketplace. But when I look at other liquidity pairs, XPR/USDC has five times the liquidity of any other pairing, notably all missing yield farming.

Does the Metal team have a plan or timeline for providing yield farming for XPR/XBTC and/or XPR/XETH?

I definitely think providing these options would not only encourage people to bring their BTC/ETH into the ecosystem that they may be sitting on in other wallets, but also provide the marketplace with a lot more liquidity and really take the Metal/Proton exchange to the next level.”

Marshall: “I’m glad you noticed! We are indeed looking to introduce yield farming for all pairs. The first one was done as an experiment by Metallicus in which we provided 100m XPR of our own liquidity to see how it would work for XPR/XUSDC. Now that we can say it was a massive success we are looking to introduce more farming rewards. More information forthcoming.”


Question: “Q1 -> Will Proton add EVM support like Telos does (another EOSIO project)?

Q2 -> What makes Proton better than other blockchains originating from EOSIO software like EOS, WAX, TELOS?”


  1. “Yes!
  2. Decentralized Identity, xTokens, better governance, no gas fee required for new users, human readable account names, Swap/Market/Loan protocol, fiat payment messaging, shall I go on?

Just want to say we are fans of EOS and the other EOSIO chains, in different ways we support each other with our research.”


Question: “Love Blockchain Bank, Metal Pay, & Proton! But no updates on Federal Application(s) for the Blockchain Bank/Metal Pay. I believe that when this is achieved BTC will be De-Throned of it’s status as King of Crypto Store of Value, and $MTL will become #1, while creating a milestone for future Cryptocurrency Regulations! *****So MY QUESTION is: What steps are being taken to convince lawmakers to accept Blockchain Bank/Metal Pay’s application to become a Federally recognized Bank Charter?”

Lee: “While I cannot comment specifically on our plans, you would expect such steps to be lengthy and complex – involving multiple paths, most importantly a having positive working relationship with all potential regulators and bolstering the knowledge of legislators.”


Question: “In your Milistone and update there is : Metal Pay partnere with Railsbank to launch our service in Europe.

I read that and you said only European Union Country can participate in Metal Pay.

BUT, there is other country in Europe who are not in European Union. What we will do with them? They will be in same boat with others and participate in Metal pay? Because im in one of those countries who is not in EU.”

Marshall: “Countries outside of EU will require additional approval for banking and fiat services, however, we expect Metal Pay 3.0 for world to be live before then.”


Question: “What industries will you be targeting your marketing in order to maximize our chances of mass adoption?”

Marshall: “Banks, payment processors, fintechs, games, and any app or platform that uses payments, digital identity, cryptocurrency, NFTs, or authentication. I recently read that 98% of App Store reviews are for games, we are doubling down on the Metaverse in a big way with Proton.”


Question: “Does the company have plans to be able to provide banking services in all states of the US and UK?”

Lee: “As evidenced by our previously submitted bank charter application, we aspire to become a bank. 😉 This process is lengthy and comprehensive – as it should be. The integrity of the US financial system is of paramount importance.”


Question: “Are there any new members or roles that have been filled on the Proton/Metal teams that you guys are eager to introduce to us?”

Lee: “My two most recent hires were Kevin Taylor from BNY Mellon and Don Berk from Northern Trust.”


Question: “Do you plan on integrating the ability to export transaction history in csv or other formats from the proton wallet for tax purposes (USA concern)?

I appreciate that you are making use of kyc and regulatory compliance in your strategy, which I think is important for trust and mass adoption, thinking tax liability will be happening as this project is going to grow.”

Lee: “Great great question! Tax compliance is critical to mainstream adoption (and convenience) and regulatory acceptance. I think we need to go a step further and give you the data you need, pre-formatted and ready for you to drop into your return. * note: this is the direction I’d like us to go.”


Question: “If you successfully acquire the appropriate banking licenses and launch the first blockchain bank, will people have the ability to cash out their crypto into fiat through the bank?”

Lee: ““If” is the key word here. 😉”


Question: “Love Proton and what it’s bringing to the space! My question is, what is the long term strategy for Metal/Proton banking? Will you be 100% virtual banking, establishing any brick and mortar banking locations eventually, or partnering with existing banks in some capacity? And if so how do you see that forming?”

Lee: “Good question! Thank you. While it would be imprudent to discuss our plans in too much detail, you could totally envision a firm like ours being 100% virtual, but there are circumstances which would call for bricks & sticks.”


Question: “Are there any concerns about security in terms of adding the fiat ramp directly to the wallet? Wallets are supposed to be the safer choice of asset storage as opposed to exchanges. It seems like a fiat gateway could endanger that. Is this a concern? If yes at all, what is being done to secure this?”

Marshall: “One of the very interesting aspects of Proton is that it’s built to integrate with traditional payment processors, fintechs, and banks through standardized payment messaging (leveraging the decentralized identity protocol). Fiat gateways connect to user accounts through Proton Signing Request (PSR) utilizing a secure methodology to request fiat, each processor has its own method of storing data and processing, in this way it is extremely secure.”


Question: “How will liquidity be managed to allow people to transfer in and out of x token > other native chains such as eth and ada”

Marshall: “Liquidity is managed by smart contract and Metal (Metallicus Inc) similar to how WBTC is managed by BitGo or USDC managed by Circle. All reserves are held 1:1 in custody.”


Question: “Hi Marshall and Team. First of all, Proton is a great project and good team behind it, only still lacking in marketing, I want to ask 3 things :

  1. What is your next plan after releasing proton lending, is there any interesting project you want to build in the next 6 month? How do you see proton in the next 3 year from now?
  2. How is the marketing plan for proton loan and proton token it self?
  3. We know proton has zero gas fee for the transaction, How do you manage to avoid spamming attack in the proton blockchain?

Thanks and Regards”


  1. “After Proton Loan release we are very focused on growing these protocols: Swap, Loan, Mint. Proton in the next three years: I see it integrated into every major fintech company, payment processor, and bank.
  2. Not sure I understand this question? The marketing plan is excellent.
  3. Proton does require resources natively, through the Proton Consortium resources are currently granted out to Metallicus and Quantumblok (and more in the future) to operate Proton Wallet, Metal Pay, and Bitcoin Libre account creation and initial resource delegation. Resource cost is nominal to the point this is sustainable with heavy growth.”


Wow, you all had a lot of questions! Our team had a blast sharing our ideas, meeting new people, and hanging out with the team over at r/Cryptocurrency – we hope to do this again in the future! If you’re wanting to learn more about Metal, keep a close eye on our Metal Pay and Proton Twitter accounts for the latest updates, and stop by the Telegram community for Metal Pay to meet new people, talk to team members, and more.

– Your Friends at Metal & Proton

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