ZoidPay AMA — Eduard Oneci: Interoperability is the keyword here!
On the previous Friday, we conducted an Ask Me Anything session featuring Eduard Oneci, the CEO of ZoidPay. During this event, he engaged with the community and responded to a diverse range of inquiries. If you weren’t able to join us, here’s a recap of the highlights from the AMA session.
Q: Any positive news that you can share regarding the progress of regulatory and legal frameworks?
Eduard: Things started to move at an accelerated speed. I can state that multiple steps have been made in this direction and we’re getting closer and closer to defining everything. We’re getting there, Zoidsters!
Q: It has been a good few months since the announcement of One Life Rally NFT staking. Can we have a start date yet?
Eduard: After the Rally participation raffle and the Shopping Pool giveaway, the rest of the benefits will gradually roll out starting in September.
Q: The wand farm we were due to be able to unstake for a 50% fee until recently, the option has disappeared after the farm fix. Is this Intentional or a side effect of the fix?
Eduard: You will be able to withdraw early for a 50% fee. The dev team is working on fixing this as we speak.
Q: Has furniture arrived yet for the new office?
Eduard: Yes!
Q: Would you consider having more community AMA sessions with other staff members other than yourself (Eduard).
This would allow more AMA sessions and we not have to wait to ask Eduard everything waiting for a month.
We can have department heads AMA directly.
Such as Tech head, biz Dev etc.
Eduard: Definitely, this is also part of our video content strategy — we’re working with Play Vertical on this to implement transparency through regular vlogs and AMAs with all of the departments.
Cool things coming, but first, let’s launch the SuperApp 💪
Q: Is the Gem sponsorship continuing? (Can we get any info?)
Eduard: Of course!
Q: Will the super app be released on the next xday?
Eduard: Testing is already in progress and we’re focusing all of our resources to make this happen. See you guys there!
Q: What is happening with the buyback (only 5mil so far)
Eduard: As we previously stated, the buyback is happening but the public details of every transaction are limited, in order to avoid speculation and manipulation of the price.
And the first program is until EOY.
Q: Will the token dashboard become dynamic? Or at least get updated every now and then.
Eduard: Yes, this is just the first version of the dashboard. There will be a next update in which the data will be dynamic.
Q: For tokens to leave the “bridge” wallet, do they need to enter from the tomo side? Or is the bridge wallet still used for many different things?
Eduard: The bridge address was used also for testing different features and assumptions we have — now with the token dashboard its sole purpose will be to bridge tokens from multiple chains — both ways.
Q: Why in the 2 frozen wallet addresses that are the burned tokens, are there attempted (and failed) swaps and transfers? some as recent as 30 days ago? To be clear there are about 30 failed transactions. Some failed swaps of 8 million zpay. If they are “tests” it seems very careless. What if it went through?! And now that the token properties enable burning why have these tokens not been burnt yet?
Eduard: As long as the addresses are frozen, there is no possible way to transfer the funds — that’s why we also have them listed in the token dashboard.
Q: How long can the project resist with current funds?
Eduard: We have a 3-year runway.
As we have learned from our previous business experiences, we have planned everything on a long term in order for us to have the flexibility to concentrate fully on developing and delivering without having to worry about funds.
Q: Any new CEX listing?
Eduard: We are engaged in discussions for future CEX listings as this is an important part of our roadmap; however, the deals are currently put on hold, by choice.
As I mentioned previously, our main focus now is on launching the Super App as we are confident that it will have a positive impact on the chart as well, making it more suitable for a Tier 1 listing.
Market conditions always dictate strategy.
Q: Why the bridge to Ethereum?
Eduard: There are many reasons why — to name a few, access to a larger user-base, more visibility, more accessibility, more capabilities from a listing and support on other exchanges perspective, more room for development, direct and easy deployment of our products on other chains.
And it relates not only to Ethereum, but going cross-chain comes with a package of endless possibilities.
Interoperability is the keyword here ✅
Q: Other projects have provided an overview of their on and off-chain treasury / operational funds, can ZoidPay also provide something similar for transparency reasons and also to prove to investors that there are sufficient funds available/incoming to guarantee the current 2023 roadmap? Many thanks
Eduard: Showing the off-chain treasury isn’t for sure a common practice. Disclosing details about the company’s treasury is not possible due to various policies and security measures in place.
If you are interested in other operational-related aspects or practices that are not so sensitive, I’d be pleased to share them.
Q: Gem Digital, the fund that invested 75 Mil in ZoidPay in Nov 2022, made a similar investment in Oct 2022 in MinePlex. Can the team explain why MinePlex managed to deliver the SuperApp (a similar app that zoidpay intends to delver but the deadline is still unknown) , the is already up and running on the app store and google store, they have multiple type co credit card, virtual and physical, and also POS for companies and many more.
Eduard: We are not aware of a similar app with the Super App and we are actively monitoring the market.
I will not talk or make any assumptions about other projects, I can only congratulate the team from MinePlex for their success.
Q: What is the plan in the Future to bring ZoidPay public and how will that affect Zpay investors? 🙏🏾
Eduard: Assuming you refer to the market spread and visibility, we do have multiple marketing strategies for growing this entire Ecosystem, everything will accelerate once we have the deliverables in the market.
As for the $ZPAY investors, a bigger adoption can only be beneficial for them and for the token 🌊🌊🌊
Q: Will ZoidPay get its IBAN from TwisPay since MultiVersX owns it, if this Lithuania Bank Purchase does NOT go through?
Eduard: We have a partner for the traditional banking operations, this is not contingent on the bank acquisition.
Although we cannot disclose the name yet, I can tell you that the partner is not Twispay.
What I can share is the fact that they are already working with most of the major banks.
Q: There is a fud where people are saying that the investment of GEM capital has stopped because you haven’t complied and that the secret B2B client has backed out. Can you give us proof that these are not true? Since you promised us that you are going to hold a Zoom meeting with us to try and end all the FUD.
Eduard: Bull market, bear market, FUD is always there 🤦♂️
I would ask if these accusations are backed by proof, but I know that it is not the case.
The continuous development is proof of everything we previously stated.
GEM and the client are not affected by the FUD on certain Telegram groups, they only value building, and the monthly reports are well received from both of them.
The Zoom will come soon too.
Q: I was researching the current ZPAY product offering. Digital bank ie shopping carts & payment APP. how are they doing ? How does super app & cross chain affect the current product offering ? Was there a change in the business plan ? Is the super App the logical evolution of the current payment product?
Eduard: I will kindly suggest taking a look at the recent AMAs on the blog and giving a look at the product explanations as well.
SuperApp is a product itself and cross-chain capabilities of the products will only help with the market spread.
The payment feature is just a small part of our Ecosystem.
Q: What was the decision to postpone the launch of $WAND? The unlocked period on the Farms has been postponed too.
Eduard: The devs are working on the 50% fee unlocking and it will be available once it’s done, there will be the token release too.
Q: The funds from the GEM aren’t affected by the delays in the roadmap? Can you prove to us that you can still on this financial support?
Eduard: Delays are normal for all tech companies, especially for the ones that are in WEB3 where the regulations and compliance side for doing what we do, are very strict.
As I previously said, we’re pushing on all grounds to deliver the products in the market.
I think it’s best for everyone to focus more on the product rather than on the things which are already secured ✅
Q: I am not saying that there are no delays, but if you can tell us how these points on the roadmap are really going? Personally, I see it as very unlikely that there is a license to create multi-IBAN cards and that the SuperApp can be launched with its functions at 100%. And I know, this doesn’t just depend on them. Crosschain to eth and listing on Uniswap, however, should be done already. And I consider it almost as important or more than the SuperApp right now. And listings on CEXs is just a matter of money. They should already know if they are going to comply with all of them or not.
Eduard: TListing on CEXs is not a matter of money.
It always has been a matter of strategy dictated by market conditions and sentiment.
When you want to change the rules and build a standard, you always encounter adversity
Q: there are 36 days left to finish this Q3. According to the roadmap, and your words, this Q3 they are confirmed 1 listing in tier1 and 2 in tier 2, in addition to crosschain to ETH and listing on Uniswap. Also, the launch of the superApp, which is supposed to be 100%, with its fiat platform and its multi IBAN cards. Is everything going according to plan, or do we have to wait for some delay? In the absence of so few days, I suppose you will know if everything is going on time. I hope you do not warn of delays on October 1.
Eduard: I will answer as above, saying that in our current position, a T1 or even T2 listing wouldn’t make too much sense, not to say a simple listing isn’t going to help the products or even the price.
Once the products are in the market, listings will come too.
Timing is everything and the products will turn the tides in our favor 🌊🌊🌊
Q: Zoidcore looks like an amazing utility, but when creating something on the different chains, the fees are paid in $Eth, $bsc, etc… Is there a way for the $Zpay token price to grow from the use of zoidcore?
Eduard: Yes, as ZoidCore will gradually be updated with new features, for some of them we will charge a $ZPAY fee.
Also having $ZPAY will bring a lot of benefits such as discount, priority access to beta features, extended packages and many more to be announced with the revenue model for ZoidCore.
Managing your project directly from the dashboard and creating vast business models with the help of more complex smart contracts will definitely require a fee.
Q: Bank acquisition is still in the books?
Eduard: Yes, as I responded earlier, bank acquisition is still in the books, but not a priority 0 for the time being.
Q: Are the Ibans of the SuperApp will be issued from the bank that is being purchased?
Eduard: We have a renowned partner covering this part.
Not able to share a name at the moment, but let me tell you that it will speak for itself.
Q: Why the circulation supply is 544 634 867 in MultiversX Explorer ? Different from the Dashboard
Eduard: The MultiversX Explorer calculates the total tokens that left the creator’s wallet, however, you can see the spread of the token (wallets included) in the recently announced token dashboard
The source should always be the Token Dashboard
Q: Last year you made a suprise message when you attend to egld conference,! Do you have a same news for this year conference ? Thank you
Eduard: We want to let the products do the talking this time.
Q: Who blames moving into a new office on a mix-up with furniture delivery?
Eduard: No one, we just stated the facts.
Q: GEM deal, don’t blame NDAs we are in an unregulated industry and crypto-journalists always provide unsubstantiated updates that are generally based on facts. An update can be provided.
Eduard: Unregulated industry doesn’t mean NDAs can be breached — we don’t do that here 😉
Q: The static dashboard is laughable and useless at best. Tx hashes are needed.
Eduard: You have the addresses and everything documented. The dynamic version is done waiting to be published.
Q: Can we get that Zoom call that will end the “FUD” once and for all?
Eduard: The Zoom is to present the Token Dashboard and present a Transparency strategy we’re actively doing
I thought the FUD already ended, we see the same questions appearing and being answered 🤷♂️
We’re focusing on the products like we always have been.
Q: Has the team done any buyback since the first announcement? The team bought nearly $100,000 worth a couple of weeks ago when Zpay was 2 cents. No announcements and extremely low volume for the past week lead one to believe no buyback.
Eduard: We will announce all the buybacks at the right time.
As we stated more times than I can remember, market speculation and manipulation will be at their peak if we announce all the transactions.
Username @BitDeejay
Q: Do we have any known buyback tx until now at all?
Eduard: We’re using CEXs for the BuyBack program. There’s an address in the dashboard that will be updated with the amount.
Thank you for participating in this AMA session with us!
About ZoidPay: ZoidPay is building the go-to open architecture for enabling the next generation of Web 3 Financial Services. Through its suite of products, B2C and B2B, it is driving the adoption of Web 3 and AI.
The ZoidPay Super App, a fintech powerhouse, lets users manage their banking and crypto needs in a seamless manner.
ZoidCore, a developer toolkit of APIs and SDKs, will let any company transition from Web 2.0 to Web 3.0 easily and effectively.
If you want to learn more about ZoidPay, make sure to follow us on our social channels below. If you’re really curious and want a quick reply from our core team members, head down to our Telegram channel and just ask!
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