ZoidPay AMA — Eduard Oneci: We are not only a token
Yesterday, ZoidPay’s CEO Eduard Oneci led an insightful AMA session, where he tackled a diverse range of questions from the community. For those who couldn’t attend, here’s a recap of the highlights and key discussions that took place during the session.
Q: What utility will $ZPAY hold within the SuperApp? Will it be used in a positive way to strengthen the price of the token? Previous answers given just mention that it will be at the centre of the project, this isn’t clear, an example of the mechanisms (burn, buy back and burn, etc.) would be good, otherwise we are just posing as a Web3 company and are in fact a Web2 payment service with an arbitrary token. Thanks!
Eduard: Indeed, this question was previously raised and, back then, I mentioned that $ZPAY will be the fuel, the utility token, the in-app currency.
What will this mean in concrete terms? To name a few and some-explanatory uses, $ZPAY will serve as a means of payment, it will be the main token for rewards/ loyalty/ premium programs.
It will offer the opportunity to be used in order to reduce fees for different types of transactions, holding $ZPAY will unlock premium features&discounts in-app and with partners, it will be the main medium of exchange.
Q: What are your plans other than the roadmap, to help the price of zpay token to recover?
Eduard: Besides the utility of the token as mentioned above and for all the products that we’re releasing, we’re also considering a burning mechanism.
As you are probably aware of, we already burned almost 13 MIL $ZPAY and multiple burns are planned in the near future as well.
Q: Do we have an approximate date about when the SPOs will get access to testing? Is it weeks away or months?
Eduard: We are as excited as you are about the community testing!
Well, you’re closer than you think! It is now a matter of days, not weeks, not months. As a reminder, don’t forget to complete the form in the SPOs private channel. Let us know if you need some guidance.
Q: What is the latest news with the GEM partnership?
Eduard: Business as usual with the GEM team at this point, monthly calls in which we present both the progress and the skipping points, and we discuss the updates and next steps.
Q: I asked before if the videos released on Twitter of the app is based on a prototype or if it is the actual app. I believe that it is the former (a prototype built in a design tool like Figma) and that we haven’t yet seen any footage of the real app. When can we get that?
Eduard: Well, good thing that we are just days apart from the community testing which, for sure won’t take place in a Figma App or any other design tool. I’m pretty sure and, actually enthusiastic, that the testers from the community will be engaged in providing both footage and fresh feedback on the app.
Q: If the disclosure of the B2B client is under NDA, what is the precursor to having it announced?
Eduard: As you also stated, an NDA is bounding both companies. The only precursor, in this case, is the legal part.
Both legal teams are continuously working to get the job done. More than this we cannot say at the moment.
Q: Zoidsters are one year old now. When can we see epoch 2? Will other traits other then zpay logo or premium ever get an advantage?
Eduard: Small hints about Epoch 2 have been already thrown in the community. I’m really curious how many of you discovered them so I’ll ask you all to reply to this comment with your ideas. As a hint, one of them will be the mutation.
Q: The super farm is almost 3 months old. Why haven’t you enabled the nft boost yet? I can’t imagine it’s a technical reason after 3 months.
Eduard: Although it doesn’t seem so, the farm’s smart contracts are more complicated than they appear to be. With this said, now that the $WAND farm is fixed, the SuperFarm boost is going to be implemented too.
Q: The second collection of zoidsters will be the mutant between olr and 1 zoidster?’’
Eduard: Well, someone got the hint! Yes, the second collection will be the Mutants and one of the ways to grab one will be by mutating a Zoidster and a OneLife Rally NFT.
Q: Can you give us fixed dates for the delays products from Q2?
Eduard: To bring more clarity on the delays, let’s think of this example: if company X would approve what we submitted, the app would be up and running in a matter of days or even hours.
It’s hard to give fixed dates when some of the obstacles come from 3rd parties. Regulation before everything!
Q: People are starting to be afraid because of the zpay price is down, even if the crypto market is green. How can you solve this price problem?
Eduard: Even though $ZPAY is one of the main pillars of ZoidPay, it isn’t just about the token. We must not forget that we are also a tech company.
What we need to remember is that $ZPAY is the fuel for all the products the company builds. Besides utility, we’re also implementing a burning mechanism and extending the locking period for the team’s tokens.
In case you missed it, the locking period for the team’s tokens was extended with one more year, to summer 2024.
Q: Wand presale will be cost 0.0003$ like now, or will be a higher selling price?
Eduard: The pre-sale will happen in different stages and the first one will be at the current price. We will share more details on this once we get closer to the release.
Q: Are you still on schedule to release wand token in 3 weeks?
Eduard: Definitely!
Q: Can you address the community concerns about the NFT drop for adding LP into Super Farm? Many people are not on the list of winners. Some transparency would be great, like the amount of LP required and cutoff time.
Eduard: Sure, we’ve taken into consideration your feedback and we’ve worked on the mismatches highlighted by the community; the upgraded and final list was shared earlier today.
The principle of the NFT Drop for SuperFarm was first-in, first-win, meaning that only the participants to the 1’st M staked $ZPAY are displayed on the list.
Q: when merch?
Eduard: We’re sharing merch on every event we’re participating in. We are always happy to meet you, guys, and we encourage you to come and see us at the next one! We’ll make sure you’ll grab some merch.
Q: Even after various step taken by the team we are seeing price fall.. why? even btc pump zpay dumping .. other alts pumping.. when btc dumps zpay more dumping? we are missing something in mechanism?
Eduard: No, we are not missing anything. As major as it might seem and we fully understand your worries, it is actually not uncommon for the crypto space — people tend to get “scared” by the drops of the price and some prefer to sell, even if they do it without any gain at all or, on the contrary.
The tricky part here is that, as soon as the price gets a bit pumped, they are buying once again, even if they are doing it at a higher price than initially.
There is no permanent ATH or ATL in crypto, everything is dynamic and we all, as participants to this space, need to adapt and to think our strategies for the long term.
Q: Will Superapp have any web2 features (for adaptation purposes) or will be based only in web3?
Eduard: The SuperApp will have both WEB2 & WEB3 features. This will make the onboarding of WEB2 people a lot easier by creating an accessible entry-point for a larger market of users.
Q: Any plans to add ZPAY to Burnify?
Eduard: There was an old saying, “Great minds think alike”. Last week I received this proposal from a team member and we’re now taking steps in this direction.
Q: Did you plan to use multichain for the cross-chain expansion?
Eduard: Yes, as we mentioned along the way, $ZPAY is taking steps in the multi-chain direction.
Q: I apologize for what I’m about to say. First of all I want you to know that I believe in zoidpay and that’s why I buy coins whenever I can I haven’t sold a single one in 4+ years now.
Question. The company was founded in 2017, we have 2023 and it has not yet managed to deliver a single working project. This cannot be happening. You cannot advertise because you do not have an active project. UNACCEPTABLE.
I WOULDN’T EVEN GO ON VACATION IN AUGUST. Why might the currency be at 0.001 on September 1 when you return from vacation. Will you be able to deliver the Superapp at the beginning of September at least?
Eduard: As you can see on our website, we have multiple working products, ZoidCore and all the staking and farming mechanisms stand as fair examples. I understand your frustration on the SuperApp release but I can assure you all that the hard part has already passed and we’re now waiting for the approvals from different 3rd party companies.
Q: When will the AirDrop for ZPAY Logo OLR be distributed?
Eduard: The benefits for the OneLife Rally NFTs holders will be gradually activated. The WEB3 benefits are starting this month with the Shopping Pool giveaway and the rest will follow.
Q: When will the shopping pool be raffled?
Eduard: The raffle will take place this month, in the upcoming days.
Q: When can the OLR NFTs be used in the pools?
Eduard: The boost will be implemented in the next 2 weeks and you’ll be able to boost your rewards.
Q: A date as accurate as possible for the launch of the application
Eduard: As I mentioned above, we’re now waiting for the approval of 3rd parties and we’re good to go. It can take a day, it can take 10 days.
Q: Why did the team use the Zpay token to buy OLR nft and cashout if they received sponsorship of several tens of millions of dollars from GEM Digital?
Eduard: The team did not use $ZPAY to buy NFTs from the OneLife Rally. We onboarded WEB2 participants of the rally.
Regarding the funds gathered by OneLife, part of them were staked and part of them will be used for airdrops and activities inside the OneLife Rally community.
Q: What are the details of this agreement with Gem Digital?
Eduard: The agreement is under NDA, it involves activities on the tech side and partnerships for a gradual release of funds.
Q: Sponsorships and marketing are done with the Zpay token? If so, why (since they received that sponsorship)?
Eduard: Sponsorships and marketing are only done with USDT or fiat contracts/payments, not with $ZPAY
Q: In the future, for the next partnerships will you proceed similarly as for OLR?
Eduard: Future sponsorships, like OneLife Rally, will only be made with fiat or stablecoin, never with $ZPAY.
Q: What is the feedback from the collaboration with OLR, why is such a collaboration necessary and what potential benefits do such collaborations bring to the Zpay project?
Eduard: The partnership with OLR has yielded remarkable results in terms of raising awareness, and its positive effects are extending to potential business opportunities and development through ZoidPay.
While the immediate benefits may not directly translate to tangible business gains, the long-term success of this collaboration will become more clear.
Q: What potential revenue Zpay has projected for year-end 2023 and what percentage of that projected revenue will be allocated to buyback Zpay from the market?
Eduard: We are working on several buyback and burn schemes. Investors and users are most important to us, so they will be directly rewarded for their trust in the company.
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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