Dear PointPay Family,

PointPay CEO Vladimir Kardapoltsev participated in a traditional AMA session on November 28st, 2024. He shared the latest news about PointPay, made several announcements, and discussed a lot of events within the platform!

Below is a summary of the AMA held on November 28st, 2024.

AMA Transcript

Vladimir (CEO): Hello, PointPay family. Welcome to our traditional AMA session. Today is November 28, the last Thursday of the month. As always, Diana is here with me. Hello, Diana.

Diana (Host):  Hello, everyone. Let’s jump in and hear the latest updates from Vlad.

Vladimir (CEO): Thank you, Diana, for helping collect and organize all the questions! I also have a new microphone, so I hope the sound quality is much better.

Now, let's talk about recent events. Over the past month, we’ve seen significant developments. First, Trump’s win, which I had predicted, came true. Additionally, as anticipated, the cryptocurrency market experienced a surge.

The market recently approached the $100,000 mark, trading around $90,000 when I last checked. There seems to be a significant sell-off wall at $100,000, which has prevented us from reaching that milestone. Many limit orders at that level are creating a psychological barrier.

This is a historic moment for the cryptocurrency and blockchain industries—and personally, it’s gratifying to see these predictions unfold. I foresaw Trump’s win and the subsequent market uptick, signaling the beginning of a new bull run. While I initially estimated the market would settle around $80,000–$85,000 before correcting, it’s exciting to witness how close we’ve come to $100,000.

Looking at market depth and order distribution, the $100,000 level remains a significant resistance point. While we may not reach it just yet, this moment is undoubtedly thrilling for all of us.

Another noteworthy development is the announcement that SEC Chair Gary Gensler is stepping down. This news aligns with statements made by Trump at a recent Bitcoin conference in Florida. During the event, Trump shared that his administration plans to take legal action against Gensler, criticizing his stance on the cryptocurrency industry and advocating for embracing innovation.

Gensler’s departure is exciting, as it marks a turning point for the industry. With Trump entering office in January, we can expect significant announcements and initiatives, especially with figures like Elon Musk likely playing a role. Musk’s understanding of the industry could drive impactful changes, including the potential for federal-level cryptocurrency legislation.

Currently, cryptocurrency regulation in the US is fragmented. States like New York enforce stringent rules, making it difficult to obtain licenses, while states like Wyoming offer more lenient frameworks. Some states lack regulation altogether, creating inconsistencies across the industry.

Under Biden’s administration, federal legislation has been discussed but not implemented. With the industry maturing—especially after incidents involving FTX and other major projects—federal guidelines are increasingly crucial. A clear, unified framework would provide a level playing field and support the industry’s continued development in the U.S.

The European Union recently passed MiCA (Markets in Crypto-Assets Regulation), a pan-European framework that all member states must enact by December 31 this year. A transition period will follow until June next year.

At PointPay, we are actively pursuing a license under MiCA, but the process is expected to be challenging. We are currently evaluating three jurisdictions: Lithuania, the Czech Republic, and Poland. Each country presents unique regulatory and operational complexities. For instance, Germany already had stringent cryptocurrency regulations in place before MiCA and continues to enforce tougher rules than the new EU-wide framework.

Implementation of MiCA varies significantly across the EU. Although the deadline is approaching, many member states have yet to pass the necessary legislation. Some, like Germany, Lithuania, Estonia, France, and Malta, already have existing crypto regulations. Others are lagging, and this delay could extend the transition period for some countries.

Lithuania has become a preferred jurisdiction for many exchanges due to its lower operational costs. While the regulatory protections are consistent across the EU, Lithuania offers cost-effective options for setting up offices and hiring staff. By contrast, countries like Germany require significantly higher expenditures, including supervisory boards and dedicated AML officers, often with salaries starting at €3,000–€4,000 per month.

Navigating these complexities is a priority for us, and we will monitor how MiCA unfolds across the EU to adapt our approach accordingly.

Returning to the topic at hand, Trump’s victory and the subsequent rise in cryptocurrency prices signal a significant shift. We’re likely to see federal-level legislation in the US and comprehensive implementation of MiCA in Europe by the end of next year. This makes 2024 an exciting year from a regulatory perspective.

I’ve been closely monitoring market trends and discussing developments with industry partners. For example, Bitget, one of the top 10 exchanges, recently shared plans to establish an entity in Lithuania and pursue a license there. Similarly, Gemini is opening an office in Ireland, where I am currently based. Most exchanges appear to favor Lithuania due to its crypto-friendly approach and the absence of additional regulatory burdens beyond MiCA.

On PointPay’s end, as promised, we’ve initiated our marketing campaign in alignment with these positive market trends. A key milestone was the launch of our Telegram app, which I’ll discuss in detail later. To kick off the campaign, we collaborated with Stellar on a Learn and Earn initiative last month. Participants answered a few simple questions after reading provided materials and earned rewards—initially $10 and later smaller amounts—completely free and withdrawable.

We’re grateful to Stellar for sponsoring this initiative and are planning similar campaigns in the future. Stay tuned for more updates as we continue rolling out our marketing efforts.

Let me elaborate on our marketing campaign. In addition to launching our Telegram app, we’ve significantly ramped up promotional efforts. This includes initiating website traffic campaigns, running Google Ads, Facebook Ads, and Telegram ads, as well as app-focused advertisements. We’ve also started a KOL (Key Opinion Leader) marketing round, so you’ll soon see increased mentions of PointPay in the media. While this is still in the early stages, things are steadily progressing, and we’re excited about the visibility these efforts will bring.

Now, let’s dive into our Telegram app. This project has been in development for over six months. While the development process itself was relatively quick, the app remained in testing for some time as we fine-tuned it and waited for the ideal launch moment. With the positive momentum in the market following the elections, we determined it was the right time to release it.

Despite a minor hiccup at launch—where some users didn’t realize logging into the Telegram app required creating a new account—we promptly addressed the issue by improving the wording for clarity. The app is fully operational and, in many respects, offers faster performance compared to our standard app.

Here’s why the Telegram app is a key innovation:

  1. Regulatory Accessibility: In some regions, accessing our app is restricted due to iOS regulations and the need for region-specific licenses. This includes countries like Japan and Canada. The Telegram app provides a workaround for users in such regions, offering broader access to our ecosystem.
  2. User Convenience: The app is easy to use, and early feedback has been overwhelmingly positive. For instance, we’ve received enthusiastic responses from users in Nigeria, a growing crypto market with significant user engagement.

This launch marks an important step in making PointPay’s services more accessible and flexible for a global audience.

Another exciting aspect of our Telegram app launch is how it positions us as the first crypto exchange available directly on Telegram. This gives us a unique edge in the market. Telegram is an essential platform for crypto users, and almost everyone in the community has it installed. By integrating our services into such a popular platform, we’ve created a seamless and convenient way for users to access our ecosystem.

Additionally, this integration aligns us with the growing TON ecosystem, which is rapidly expanding and full of opportunities. The app's release has already proven to be a major success—within just two weeks, we onboarded 100,000 new users, bringing our total user base to 600,000. This surge in activity led to a significant increase in KYC completions, withdrawals, and deposits, underscoring the app’s impact on our platform. Our KYC system was indeed working overtime, but it’s all part of ensuring our platform thrives.

Our Telegram mini-app, which is much more than “mini” in functionality, is now live! If you haven’t explored it yet, I encourage you to check it out. Simply type @PointPayTMA_bot on Telegram, and it should appear as the only bot of its kind. With no alternatives currently available, we are proud to claim the title of the first-ever crypto exchange on Telegram. This is a significant milestone and a core part of our differentiation strategy. While other exchanges may join Telegram in the future, we’ve taken the lead in this space, and we believe it’s a major step worth celebrating.

As for our marketing efforts, our KOL (Key Opinion Leader) campaign is underway. While it’s still in the early stages—about 5% complete—we’re actively engaging with key figures who are starting to post about us. The campaign will gain momentum over the coming weeks and extend into the new year, ensuring continued visibility and engagement with our audience.

Behind the scenes, we're gearing up for a major milestone—our blockchain launch. It’s in the final testing stages, and we’re making sure everything works flawlessly before going live. Let me take a step back to remind you of the journey so far: last spring, after completing the token swap, we began developing our proprietary blockchain, tentatively named PXP20. While this name might change, for now, it serves as a placeholder.

We’ve already achieved significant progress. The testnet and faucet have been released, and users have started testing the blockchain and building on it. If all goes according to plan, the official launch should happen by the end of the year. If not, we’re targeting the very start of the new year. Since blockchain development is an enormous undertaking, we’re committed to ensuring perfection before making it live. Unlike a website, once a blockchain is deployed, internal changes aren’t possible—this requires everything to be fully optimized before release.

As for timelines, I’ll update you in my next address, which might deviate slightly from our usual schedule due to the holiday season. Traditionally, we meet on the last Thursday of the month, but given that I’ll be spending Christmas with my family, we may adjust the date. A possible alternative could be December 30th or 31st, but I’ll confirm closer to the time.

So, we’ve already talked about our first Learn and Earn campaign for Stellar—it was a hit! Now, I’m thrilled to share that starting next Monday, we’re launching the PointPay Learn and Earn campaign! And let me tell you, this one’s going to be a bit more challenging. Here’s why!

This campaign is designed for advanced users. You’ll read a paragraph full of details and then answer some tricky questions. The catch? You can’t go back to the text while answering. So, if you’ve ever done those “read and recall” language tests, you’ll know what I mean—it’s going to make you think!

Instead of PXP tokens, we’re giving out USDT rewards this time—$2 or $3 per participant. Why? Well, flooding the market with free PXPs wouldn’t help anyone, so we’re keeping things balanced while rewarding you with something everyone loves: dollars! The budget is limited, just like with the Stellar campaign. That one was supposed to last a week but ran out in just over a day! If you want to claim your reward, make sure you’re among the first to participate.

After you finish the campaign, you must claim your reward—otherwise, it’ll expire. You’ll have 30–45 days to hit the claim button, so don’t leave that free USDT on the table!

Play fair and stick to the terms. For example, trying to withdraw pooled rewards from multiple accounts isn’t allowed. Use your bonus on the platform instead—whether it’s buying crypto or something else exciting.

This is your chance to earn some free USDT while testing your skills. The campaign starts next Monday, so mark your calendar, tell your friends, and be ready to dive in!

Next week, we are excited to launch the long-awaited PointPay Portal, a significant step toward our mainnet release. The portal serves as an internal system, similar to platforms like Zealy, which gained popularity about a year ago. However, unlike Zealy, our portal is fully integrated into the PointPay ecosystem and offers tailored rewards for completing specific tasks.

For example, users can earn rewards for actions such as:

  • Passing KYC verification
  • Depositing funds
  • Making their first trade
  • Placing advanced orders like stop-limit orders
  • Staking PXP or other cryptocurrencies
  • Referring friends to PointPay

These tasks are designed to enhance user engagement while offering meaningful incentives. Unlike conventional approaches like mystery boxes or spinning wheels—common on platforms like KuCoin—we’ve opted for set rewards directly tied to the platform's ecosystem. This ensures users gain real value, such as PXP tokens or benefits that contribute to leveling up within the platform.

We’re also publishing a detailed article next week with screenshots and step-by-step guides to help users navigate the portal. This initiative aims to improve user onboarding and boost conversion rates, addressing previous challenges in this area. By integrating these features, we’re not only enhancing user experience but also expanding the utility of PXP tokens within the PointPay ecosystem.

We’ve had several successful trading competitions, including our Halloween event. However, we’ve decided not to hold a Black Friday competition this year. Instead, we’re planning a trading competition starting on December 1, leading up to Christmas. Additionally, another competition is planned from December 25 to January 1. These events will be closely tied to our marketing campaign, so stay tuned for more details.

In terms of new assets, we added several meme coins, including SLERF (SLERF), Samoyedcoin (SAMO), and Ape and Pepe (APEPE). We’re also introducing two new stablecoins from VNX: VEUR, pegged to the Euro, and VCHF, pegged to the Swiss Franc. These are reputable, licensed stablecoins issued by a respected European company - VNX. Their transparency and regulatory compliance ensure safe and efficient transactions. We’re thrilled to offer these options to our users, especially those in Europe and Switzerland, making trading with the Euro and Swiss Franc easier than ever before.

You’ll see banners in our app highlighting current activities and events, so be sure to check them out.

Vladimir (CEO): Now, with about 25 minutes left, let’s dive into the questions!

Diana (Host):  Binance burns, Crypto.com burns, SwissBorg burns. Why not PointPay?

Vladimir (CEO):  PointPay has conducted regular token burns in the past, but this changed when we initiated the token swap. The exchange rate of 8:1 was directly influenced by these burns, which amounted to nearly 17% of our token supply over the past three years. The new tokenomics fully account for these reductions, ensuring that the token supply reflects these adjustments.

While we are not ruling out future burns, it is not a priority at the moment. Announcing burns in advance is also discouraged due to SEC regulations, which view such actions as potential market manipulation. This is why many companies, including PointPay, have moved away from scheduling regular burns.

For now, our focus is on other initiatives, including marketing campaigns and possibly a Tier 1 listing. If we decide to conduct burns in the future, they will be handled thoughtfully and in compliance with all regulations. The current tokenomics already incorporate past burns, which is why the exchange rate during the swap differed from the expected 10:1 ratio.

In summary, we are not ruling out future burns but have no immediate plans to conduct or announce them.


Diana (Host): Will there be any PXP token utilities? How will you make the PXP token great again?

Vladimir (CEO): We're currently focused on enhancing the PXP token's value through our ongoing marketing campaign. This includes releasing new features, collaborating with KOLs, media support, and launching exciting projects like the Telegram mini-app.

In terms of utilities, the PXP token will play a central role in our ecosystem:

  1. PointPay Mainnet: PXP can be used to pay transaction fees.
  2. PXP Portal: Holders can earn free PXP and access exclusive opportunities.
  3. User Benefits: PXP tokens unlock higher user levels in the Token Booster and provide eligibility for airdrops.
  4. Reduced Fees: PXP holders enjoy discounts on trading and commission fees.

These utilities ensure PXP remains integral to every aspect of the PointPay platform. Unlike many tokens with limited use cases, PXP is woven into our ecosystem, similar to Binance's approach when launching the BEP-20 blockchain.

Additionally, we’re exploring the possibility of a Tier 1 exchange listing, further broadening the token's potential. PXP is designed to deliver real value across the platform, making it a vital asset for our users.



Diana (Host): How about implementing PXP Token, for example, using 10% of the fees for PXP buybacks?

Vladimir (CEO): We are considering mechanisms to reduce PXP token supply through the burning of fees collected on our platform. For instance, fees paid on the PointPay Mainnet and commissions within the platform could be allocated for burning, effectively reducing the token supply.

However, implementing scheduled buybacks is not feasible due to current regulatory frameworks. Both US SEC regulations and European laws view scheduled buybacks or burns as potential market manipulation. The crypto industry has evolved significantly over the past few years, and such practices are no longer widely permissible.

Our approach ensures compliance while still achieving a similar outcome. As users engage with the platform, fees collected in PXP will contribute to a gradual decrease in supply. This aligns with our goal to maintain a sustainable and robust ecosystem for the token.





Diana (Host): I was wondering if you have thought about creating a Web3 wallet connected to PointPay, like Binance has?

Vladimir (CEO): Yes, we have considered the possibility of creating a Web3 wallet connected to PointPay. Currently, we offer a fully functional Vault section within our platform, which serves as our wallet solution.

Developing a Web3 wallet is an interesting idea, and while it would take time and resources, it’s certainly something we may pursue in the future. I’ve noted your suggestion and will share it with our product team for further evaluation.

At this stage, we’re focused on analyzing the technical, economic, and financial feasibility of such a feature. A Web3 wallet is indeed a popular tool, and we’ll carefully assess its potential integration into our ecosystem. Thank you for the idea!






Diana (Host): Why do we need both the Telegram app and the PointPay mobile application?

Vladimir (CEO): There are several reasons for having both the Telegram mini-app and the PointPay mobile application:

  1. Accessibility: Not all users can easily access mobile apps due to restrictions in app stores, especially on iOS. App markets are highly regulated, requiring annual confirmation of licenses in relevant jurisdictions. To address this and anticipate stricter policies, we introduced the Telegram app as an alternative way for users to access our platform.
  2. Popularity of Telegram Mini-Apps: Telegram mini-apps are becoming increasingly popular. By integrating with Telegram, we are tapping into this trend and providing users with a seamless way to interact with our ecosystem.
  3. Engaging the Crypto Community: Telegram is widely used in the crypto space, with the majority of crypto users actively engaging on the platform. Telegram’s crypto-friendly ecosystem, which includes its native token (TON), makes it an ideal environment to connect with a broader audience.

The success of the Telegram mini-app speaks for itself—100,000 users joined our platform within two weeks of its launch. While both the mobile application and the Telegram app serve similar purposes, they cater to different user needs and ensure that our services remain accessible and engaging across diverse platforms.




Diana (Host): How do you differentiate yourself among the hundreds of exchanges within the crypto market?

Vladimir (CEO): Differentiating in the crowded crypto market is undeniably challenging, even for established platforms. However, we’ve focused on leveraging innovation to stand out, starting with our Telegram mini-app. As the first crypto exchange to launch a Telegram-integrated platform, we’re capitalizing on a first-mover advantage.

Telegram already serves as a hub for crypto enthusiasts, with trading signals, bots, and an active community. By integrating directly into this ecosystem, we provide users with a seamless, familiar, and accessible way to trade. This aligns with the growing trend of simplifying access to financial tools within environments users already trust and use daily.

Binance’s success story is a prime example of how being an early adopter and offering reliable, user-friendly tools can secure market leadership. Similarly, we aim to make trading via Telegram the next big shift, positioning PointPay as a pioneer in this space.

In short, our strategy focuses on innovation, accessibility, and integration into platforms that resonate with the crypto community—starting with Telegram.




Diana (Host): Does trading via Telegram count towards trading competitions? Will there be a unique trading competition exclusively for Telegram exchange users?

Vladimir (CEO):  Trading via Telegram does count toward trading competitions because it operates on the same platform as our main exchange. However, creating a competition exclusively for Telegram users would be challenging from a technical perspective.

The way users access the platform—whether via Telegram, the mobile app, or the web—is interconnected. For example, a user might start trading through Telegram but later continue on the website or app. Tracking and separating these activities would require significant development resources, which we currently need for higher-priority projects.

While it’s a creative idea, it’s not something we plan to implement at this time. However, we appreciate the suggestion and will keep it in mind for the future.




Diana (Host): How and when will we see the results of the marketing campaign?

Vladimir (CEO): The results of our marketing campaign are already visible and will continue to unfold over the coming months. Here’s what to look for:

  1. Community Growth: We’ve already seen significant engagement, such as 100,000 new users joining our Telegram app within two weeks of launching the campaign.
  2. Increased Platform Activity: Expect higher trading volumes and traffic on our website as more users interact with our platform.
  3. Improved Rankings: Our position on platforms like CoinMarketCap and CoinGecko will reflect the growing popularity and engagement with our services.

The campaign is ongoing and designed to align with key product launches, including the PointPay Learn and Earn program, the PointPay portal, and the mainnet. These developments will further boost visibility and user activity.

You’re already seeing measurable results, and as the campaign progresses, its impact will become even more pronounced.




Diana (Host): Will PointPay prepare something special for Christmas or New Year’s?

Vladimir (CEO):  Yes, we’ll definitely have something special for the holidays! A Christmas trading competition is one of the ideas we’re working on, and I will also host a special AMA session towards the end of the year. Stay tuned—more details will be announced soon!


Diana (Host): I’m a PointPay user and would love to help you with marketing. How can I do that?

Vladimir (CEO):  Thank you for your support! Here’s how you can help with marketing:

  1. Leave a Review:
    • Share your experience on TrustPilot, where we currently have a great score of 4.5.
    • Leave daily comments about our exchange or token on CoinMarketCap and CoinGecko.
    • Engage with us by commenting on Facebook or Telegram.
  2. Spread the Word: Write reviews or share your feedback about PointPay on any platform you prefer.
  3. Contact Us: If you have expertise in areas like search engine optimization or other marketing strategies, feel free to reach out to me directly on Telegram. I’ll make sure to reply and explore how we can collaborate.

Your efforts truly help us grow—thank you again!



Diana (Host): Why does CoinGecko show PointPay having 131 coins and 169 trading pairs when there are actually 194 coins and 228 pairs? Shouldn't the information be updated?

Vladimir (CEO): The difference in numbers is due to how CoinGecko and other aggregators, like CoinMarketCap, handle coins with low liquidity.

Aggregators like CoinGecko often remove coins with insufficient liquidity to maintain accuracy in their rankings and metrics. While we may list low-liquidity coins, they may not appear on these platforms if they don’t meet the aggregator’s thresholds.

At times, we also temporarily remove certain APIs for coins with low liquidity, shallow market depth, or other concerns. This helps protect our overall liquidity score and ensures better visibility for more active coins.

The number of coins and trading pairs changes frequently, depending on listings, delistings, and market activity. Aggregators may not always reflect the latest updates.

For the most accurate and up-to-date information, we recommend checking directly on the PointPay website, as it reflects our current offerings.

Thank you for bringing this up—transparency is key, and we’ll always strive to keep users informed!


Diana (Host): What is the current status of PointPay’s plan to implement AI on its platform?

Vladimir (CEO): Regarding AI integration, we do have plans outlined in our roadmap. Potential applications include trading bots and strategies, which could enhance user experiences. Additionally, we may explore AI implementation in customer support to manage costs as our user base expands.

For instance, AI could handle frequently asked questions, connecting users to a live agent only when necessary. This approach would streamline operations while maintaining high-quality support. With millions of users anticipated, we’ll need efficient solutions to scale customer service.

AI could also contribute to portfolio management, offering trading suggestions, liquidity management, and portfolio rebalancing—tools increasingly popular in the market. These possibilities align with our vision to incorporate AI where it adds the most value.


Diana (Host): Well, I guess that was the last question for today. Thank you all for joining us.

Vladimir (CEO): Perfect timing—we managed to wrap up in almost exactly one hour. I truly appreciate all the great questions and your time today.

Next time, we’ll meet just after Christmas, though the exact date and format will be announced later. This week has been full of exciting updates:

  • The release of the TMA.
  • Several trading competitions.
  • The launch of PointPay Learn and Earn for Stellar.

Looking ahead, next week we’ll introduce the Learn and Earn program for PointPay and release the PXP portal—an exciting milestone. Additionally, we’re finalizing testing for our mainnet, which we aim to launch by the end of this month or early next year.

Our marketing campaign has also delivered remarkable results, with over 100,000 users joining our Telegram app—a phenomenal achievement. More milestones and product releases are on the horizon, so stay tuned for what’s next.

Finally, I wish everyone a safe and joyful holiday season. Whether you celebrate Christmas, Hanukkah, or another occasion, my warmest greetings to you all. I’ll share a personal holiday message closer to Christmas. Thank you for being part of PointPay’s journey, and I’m excited about what the next few months will bring.

Have a wonderful weekend, and see you soon!

Happy trading at PointPay!

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