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Q&A — Robert Auxt, Founder & CEO at Eterbase

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Q&A — Robert Auxt, Founder & CEO at Eterbase

A new week, a new interview! Today I’m sharing my conversation with Robert Auxt, the founder and CEO of Eterbase.

Truth to be told, exchanges are popping up every single week now. And while battling for market share, the average trader gets confused. But Eterbase has a very different story than others.

Besides being a fully European based exchange (domestically, team, compliancy, and also vision wise) they’re building a very solid foundation for the very first successful EURO (€) stablecoin called EBASE.

Add stuff like “negative trading fees”, generous airdrops for XBASE token holders and more innovative implementations, well, then you got yourself an exchange to keep your eyes on.

Without further ado, let’s start! 


“Hi, Robert! What is your background and for how long have you been involved with blockchain technology?”

My background is finance and economy. I worked in the banking industry in London shortly after graduation and then joined the Slovak government administration.

Robert Auxt
Robert Auxt as a representative of the Slovak government.

I represented Slovakia in the European Stability Mechanism in Luxembourg during the EURO crisis in 2012–2014. Continuously I served as a member of the Board of Directors of the European Investment Bank. After this period I was Advisor of Minister of Transport, Construction and Regional Development.

During my last stand in a public role, I was the CEO of the National Motorway Company. I started to study crypto/blockchain during last financial crisis 2008–2009 and later, during the already mentioned EURO crisis, I was completely sure that crypto, decentralization, tokenomics, and blockchain can make huge impact in the future.

“Eterbase’s website reads “Europe’s Premier Digital Asset Exchange”, that’s a bold statement. In what way does your exchange live up to this?”

There are lots of exchanges domiciled in the EU, especially in the Baltic countries and Malta. But if you try to research their ownership structure and organization structure, it will lead to the conclusion that they are mostly “branches” of Asian, US and Russian capital entities.

I always wanted to create true European venue (not only domiciled) with transparent standards, a bank-grade quality of security and services, natural FIAT gateways, and in the final, to attract institutional capital. Mentioned features succinctly outline how our business, product, or service is different from our competition. Especially in crypto space, we are witnesses of untransparent behavior on a daily basis.

“What role does your native utility token XBASE has within the Eterbase ecosystem?”

XBASE token is the lifeblood of our exchange. For this reason, we at Eterbase believe in providing an incentive for traders who support the Eterbase trading ecosystem by holding the XBASE native token.

Holding XBASE will always give you benefits.

Premium Membership Tiers.

There are 9 levels of Premium membership. Highest one requires to lock 5 000 000 XBASE and enjoy 0% maker fee, 0,01% taker fee, earning 50% fee split from trading, very interesting regular airdrops and almost free of charge withdrawals. Other kinds of incentives will come with a new range of products.

“One of the innovations you’re implementing is “Trading with negative fees”. This seems almost too good to be true, how does this work?”

If you just compare fees of crypto exchanges with fees for example of stockbrokers, you’ll find out that this is an undeveloped market still.

Fees are enormous. In order to differentiate Eterbase from other platforms, we have decided to introduce negative trading fees for all market-making orders executed by Premium 5 and higher membership tiers. Put it bluntly, if you were to put limit order into our order-book and this order gets executed normally the exchange would get fees from both market maker and market taker (or from both sides of the trade).

Premium Membership Tiers.

In essence, traders and market makers can make fees just from their orders being executed in the same way as exchanges do. We hope that these mechanics will bring more liquidity and the biggest traders and market makers to Eterbase platform in the future.

By The Numbers — Negative Fees

One question you might be asking yourself is — How much users can actually gain by trading with negative fees on Eterbase?

Let’s assume that you are a high volume trader, with a Premium 9 Membership (50% trading fee split) on Eterbase.

You place 100 x 10 ETH trades during a day which are being matched by a Taker. Assuming a 0.09% taker fee, during a day you will have generated:

100 x 10 ETH x 0.09% (Taker fee) x 50% (fee split) = 0.45 ETH

If you continue to provide this liquidity during a full month you would end up with:

0.45 ETH x 30 = 13,5 ETH

“You’re making it easy to use FIAT on your exchange, in what way do you facilitate users?”

We are really delighted that we can offer direct synthetic EUR IBAN (SEPA) accounts, that will enable fast, secure and inexpensive deposits and withdrawals of EUR within our platform across the markets of 28 member states of the European Union.

This solution was developed and is operated together with our partner Majestic Financial UAB in Lithuania. One of our highest priorities is compliance. We have the highest level of expertise in nextgen KYC & AML verification process. FIAT gateway is available only for users who went successfully thru this verification. In 2020 all crypto exchange providers and crypto wallet providers become a responsible entity for Financial Authorities (AMLD5 EU directive) and must report suspicious transactions and large transactions. We did not underestimate these coming challenges and today we already can say we are ready.

“Can you tell us more about EURBASE, your stable coin pegged to the euro (€)?”

There are lots of successful USD based stablecoins. But if you have a look into EUR area, there is no one who can be marked as a successor. It was a big challenge for us. Because we are domiciled in the EU, we definitely want to bring successful EUR based stablecoin. But we didn’t want to stay vague. That’s why we brought anti-inflationary features. And so EURBASE or EBASE was born.

EURBASE is fully compliant with EU directives AMLD5 and GDPR within the code structure which is also very important.

EURBASE falls under the definition of a payment token under the ESMA definition which is also important step ’cause we consider payment tokens as one of the first group of crypto which are detailly taking attention in terms of wide use, payment solutions adoption and regulation maybe.

More information about EURBASE can be found in the dedicated whitepaper.

“Eterbase will also offer a launchpad for IEOs. What’s your view on them and what can we expect?”

We have a completely different approach in terms of IEO. As most of the people are familiar with terms such as ICO and IEO we are introducing a simplified version of IEO for projects that have had limited exposure, are not listed on liquid markets or want to raise additional funds via our exchange without a complicated process like ICO/IEOs.

If you want to list your project, please visit this page.

We named it OEO. What is OEO? In simple terms, OEO stands for OrderBook Exchange Offering, which means that tokens/coins are sold directly via order book at pre-selected tiers divided by price and quantity of assets sold. The timespan for transactions is short and remaining/unsold supply is burnt after conducting OEO.

Our next implemented mainnet will be BURST and we are glad to see them online at Eterbase very soon.

“What can you tell us about Eterbase’s team?”

Our team has 15 internal members now headed by me as a CEO, Tomas Pristac as a CBDO and Martin Smutny as a CTO, and we have approximately the same amount of externals.

“In terms of future development and milestones, what are you looking forward most to?”

Q4 of this finishing year will be outstanding. We are very close to rolling out a massive marketing campaign, announce new partnerships, unique referral program and EBASE airdrops for Premium membership levels. We also finalizing a new user interface and dashboard.

Check out our latest Medium article for more information.

Introducing Eterbase Premium MembershipsIt’s been an exciting journey for Eterbase thus far — from conducting our ICO in Q4 2018 to launching the exchange in…medium.com

“How can people stay up-to-date?”

You can follow our latest updates and news through our:


I am not a financial advisor who tells people to buy certain assets.

That being said, besides being invested in Eterbase (XBASE), I am being compensated for my time writing this article.

Thanks for reading,

Mr. Backwards

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*Disclaimer – Eterbase are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.

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