Transcript of AMA with CEO of PointPay – Vladimir (CEO) Kardapoltsev

Dear PointPay family,

PointPay CEO Vladimir Kardapoltsev participated in a tradition AMA session on December 29, 2022. He highlighted the most valuable achievements of PointPay from 2022 and talked about future plans of the company for 2023.

Below is a summary of the AMA held on the 29th of December, 2022.

AMA Transcript

Vladimir (CEO): Hello, PointPay family! It is a great pleasure to be here with you.This is our traditional end-of-the-month and end-of-year AMA session. Welcome to you all. I hope you are like me, enjoying this holiday cheer, whether you might have celebrated Hanukkah or Christmas. I still have this holiday feeling in me. Yana will be joining me today to help me during this AMA session.

Yana (Host): Hi, everyone. I'm happy to be here. Let's get started and listen to the latest news and announcements from Vlad.

Vladimir (CEO): Yana collected all of the questions for me. And she's going to be helping me out today. Let's start this session. We are thrilled to announce the completion of our 23rd burn. This morning we burned 3 million PXP tokens.

Overall, it has been a very, very difficult year; the winter has not only broken outside our windows but also in the worlds of cryptocurrencies. PointPay as well has undergone quite a lot of changes this year. I think changes are for the better. I'm quite happy with how everything worked out at the end of this year.

Let's start with what we have done in our company, and highlights of our achievements for this year.

Traditionally, let's begin with PointPay interfaces, in particular, the web:

Redesigned the homepage, footer, and header, as well as the main menu, registration, and authorization flows;
Optimized all redesigned pages;
Introduced the KYC feature to all users;
Added the contact us page, the FAQ, and a live roadmap that we update every single week;
Significantly improved the security of our website;
Made the new authorization flow, which is much more user-friendly;
Changed the way that we do the password resets, automatic logout windows, vulnerable libraries, and validation of active sessions;
Implemented a new bug report feature;
Introduced the Buy PXP window, the Referral Program, B2B accounts, and the User Levels.

Moving on to our mobile apps, we have:

Completely redesigned the whole app;
Created a new Dashboard;
On the profile and the payment tabs, we have introduced the Classic Exchange platform;
Included the Launchpad into our platform along with the voting feature;
Added such features to our mobiles as Staking flow, the Notification Center, Customer Support, and Blog.

Let’s now discuss the Exchange:

Performed a complete redesign of the architecture of our exchange. Now it is fully scalable;
Integrated Kafka into our platform;
Rewrote part of functions in Go language with regard to the new architecture;
Added 50 new pairs to the Exchange;
Implemented new data servers and improved the performance of the exchange;
Implemented a lot of new orders to our platform.
Furthermore, PointPay exchange has been listed on CoinMarketCap this year.
We have also upgraded quite a lot of elements of the design of our exchange;
Completed a trading API;
And moved all of the core functionality from PHP to Go.

Speaking about core functionality, let’s take a look at CryptoBank:

We've completely redesigned the flows;
implemented the crypto loans for seven cryptocurrencies and increased the number of supportive currencies to 32;
separated the savings and the regular accounts and created the savings sections on our website;
And implemented the crypto bank B2B section;

As for the Payment System:

We’ve redesigned the payment system to version 3.0;
Improved most of the services in terms of the UX and the UI;
Integrated several payment systems covering a large number of new cryptocurrency pairs and new regions;
Made a seamless integration of the Mercurio;
Integrated the wire payment method for bank transfers.

Even if we have restructured some of our products, we’ve done quite a work on the escrow service during the year:

Released the MVP, which included the simple contracts and their full processing;
Developed the admin panel;
Developed a marketplace for contracts and an analytics page.

We also worked on the HR Talent platform:

Released a new MVP version, which included dividing users into talents and customers
Implemented a configurable landing page;
Developed regular contracts for permanent employees.

Furthermore, we invested our efforts into development of the B2B branch:

Developed the first MVP version of the B2B;
Implemented the quick B2B module.

Our Launchpad platform was significantly improved:

Added an ability to create projects through the admin panel;
Updated all the functions of the product to modern standards;
Added the landing pages;
Introduced an ability to hold the battle between two projects;
Conducted our first listing of the PIT token.

A big work was done by the Legal team as well:

Made an integration with ACH Circle within an integration with Stickbait — a Chinese payment provider;
We’ve been listed on CoinMarketCap;
Registered trademarks in Russia, Georgia, the European Union, and Switzerland.

Those are the main things that we have managed to complete this year. And I hope that this gives you an overview of the amazing progress that we've made in 2022. Thank you all very much for supporting us. If you want, you can dive in deeper as we have published the end-of-year report. You may go and check it out.

Now let's move on to your questions. Yana, please ask questions.

Yana (Host): All right. The first question is about security. I started getting emails about my actions on the Point Pay platform. What is it?

Vladimir (CEO): This year, we have been focusing on improving the security of our platform. We've integrated the 2FA with Google verification and integrated the activity notifications. If you have any important events or do anything on the platform, try to withdraw or deposit money, you should get an email from us saying that you have done so.

If you are sitting on the train and you get an email from us that you've just logged in and you're trying to withdraw all of your savings, you know, you should really contact us as soon as possible so we can block your account. That's one of the very important security features that we have implemented this year.

Yana (Host): Okay, thank you, Vlad. The next question is about user levels. The new user levels, which are issued, depending on the number of PXPs, look a bit game-like. Was it intentional?

Vladimir (CEO): The intention was exactly what you mentioned. We wanted to display the system with levels and their bonuses clearly and simply. Game-like look is exactly what we're looking for as this increases engagement and improves user experience.

User engagement will be great for clear indications of added bonuses, the goals you have to achieve, and the rewards you will get afterward. We try to implement that with, for example, the PXP user level from zinc to titanium. You have more discounts and more perks within our system. At the moment, it only works for the exchange. But at the beginning of next year, we'll introduce it to all of our products.

Yana (Host): About the next year, we also have a few questions about our plans for the future. How many cryptocurrencies are now available, and are there plans to increase their number?

Vladimir (CEO): At the moment, we have 32 cryptocurrencies available on our platform and even more cryptocurrency pairs. We are planning to expand that list very soon.

We had planned to add 100 new currencies to our app by the end of the summer, but this did not happen. However, we are planning to add these currencies at the beginning of next year because quite a lot of cryptocurrencies went bust.

It has to be mentioned that Launchpad will be listing tokens on our platform that will also be added to our exchange. We are planning to expand that service next year.

Yana (Host): There were several questions, so I have combined them into one: is PointPay no longer going to pursue Forex trading?

Vladimir (CEO): We have decided to postpone the obtaining of the Forex license until the end of next year. It doesn't really stop us from doing our business. I just want to remind you that we're the authorized operator of the deposits of virtual cryptocurrencies and the operators of the crypto exchange in Lithuania, which allows us to operate within the EU market. That covers every single other market apart from the US.

In the US, we are trying to obtain NY and Wyoming licenses. By the middle of next year, we should get those licenses, and that will literally cover 99% of the jurisdictions. In terms of the market share, that will be almost 100%.

Yana (Host): When are you planning to add new networks to the PointPay platform?

Vladimir (CEO): We know that our users don't want to overpay for the commission. That's why we're working incredibly hard on adding new networks to the PointPay ecosystem. We have managed to finish the main development of the trading block. I was planning to release it by the end of 2022. But unfortunately, it didn't happen. It will be released in January next year. You will be able to deposit and withdraw USDT/USDC on Tron, BEP-20, etc.

Yana (Host): When listing on the Tier-1 exchange?

Vladimir (CEO): Listing on the Tier-1 exchange was one of our priorities for this year. However, the market conditions have changed significantly in the last half a year. We are not interested in getting listed on a top exchange that might go bust within the next couple of months. We'll just have to wait and see what is going on in the market. We're still committed to the listing on the tier-one exchange.

When the market goes up, we will most certainly conduct a listing. We're taking advanced talks, and we have listing offers from a couple of exchanges. In the first half of next year, that is possible if market conditions are bright.

Yana (Host): You talked about burning PXP tokens; how many have been burned so far?

Vladimir (CEO): As I mentioned before, we have burned 3 million PXP tokens. There are almost 35 million tokens that we have burned in the last 1,5 years. We're not planning to stop.

During the first six months of the last year, PXP was among the currencies that remained very much stable and even grew slightly. Things like the FTX bankruptcy affected the cryptocurrency market but we will be working towards improving the PXP utility and growing the platform, which will positively affect the PXP price in the future.

Yana (Host): It's important to discuss the achievements of the year.. The next question is: what do you think of PointPay's bottom line of the year, satisfied or disappointed?

Vladimir (CEO): Most definitely satisfied. It was quite a busy year, but despite all of the global stagflation, international conflicts in the market, and stability, we have shown some incredibly excellent results.

At the beginning of the year, we had multiple accounts on every single product, then we combined them into one which technologically was incredibly difficult. We have launched 4 new products: Launchpad, HR Talent, Escrow, and P2P. We've redesigned all of our interfaces, secured a couple of licenses, and lowered the interest rates, which made us more financially viable.

If you consider where we started, and how far we've come — it's been an incredible journey.

Yana (Host): Let's discuss payments; how many payment types are there on the platform now? Are there plans to expand this number?

Vladimir (CEO): Currently, we have five payment providers that allow us to cover all of the Visa, MasterCard, and SEPA transactions. We have to work in some regional African countries, and some South American countries as well, but overall we cover the majority of the market at the moment.

We are working incredibly hard on adding new payment providers such as Circle and Stickbait. That will cover the Asian and American markets. Also, the wire transfers and the ACH transfers will be implemented by the end of next year. That will literally cover about 97% of all of the market transactions in the world.

Yana (Host): There were several questions about withdrawals. I still have pending transactions; how are you planning to address this issue? I have seen posts lately from people who are concerned about the need to provide hashtags for transactions.

Vladimir (CEO): This issue affects about 30 users within our platform. It's a very local minority, considering we have 250,000 people on our platform. They invested about three years ago, the old team didn't keep the records correctly. For those people, we have to do some investigative work regarding how they deposited money into our PointPay account.

For 99.9% of users who came to our platform three years ago and later, that shouldn't be the problem. We have all of the records of their transactions and do all of the transactions within 24 hours.The transactions that are smaller than $300 are being processed within seconds, and for larger transactions ( $1000+) we sometimes need to have a look at your records, the KYC, etc.

Yana (Host): Let's answer the last question for our session today. I only use the Web version of the platform. Isn't it better to develop one thing rather than spreading out affords across multiple versions?

Vladimir (CEO): First of all, the number of people use different devices in order to access the platform. Most European users use iPhones and desktop computers, and people from Africa and Brazil access our platform through Android apps. In order for us to fulfill the mission of our platform - to provide crypto services to the 8 billion people around the world - we have to make sure that our platform is accessible to absolutely everybody around the world.

We will not stop developing our mobile version. It is a vital part of our platform. It gives access for the biggest majority of people from South America and Africa to the crypto banking services. We want to make our platform as comfortable for users around the world.

Yana (Host): That's all for now. Thank you.

Vladimir (CEO): Thank you, Yana, for helping me out today and collecting all those questions. Thank you, everybody, that you're taking part in this latest AMA session of this year.

The global economy is still struggling from the recent financial crisis, and it has been incredibly tough for all of the cryptocurrency investors. But there is always an opportunity for everybody, even in the declining market. I am personally, and we as a company are incredibly grateful for your support. Over the last year, the cryptocurrency market has been volatile. We had to make some tough decisions to make sure that our company stayed afloat.

In the next year, I do really think that we will be able to win a higher market share. I really do think that PointPay has an incredibly bright future ahead of us.I will see you again next year at the end of January.

Thank you!

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