CEO Vladimir Kardapoltsev has recently taken part in a Telegram AMA session to answer some of the most asked questions within our community. Vladimir went into detail about the PointPay platform upgrades, licensing, and listing processes, as well as future plans for development. Additionally, our CEO shed some insights on the upcoming launchpad project.
Below you can find a summary of the AMA held on the 17th of February, 2022.
- What would the PXP utility be în the new launchboard?
Launchboard will go live in Q1 2022. The first pilot projects will be listed just with ERC20 tokens; others will be implemented a bit later if needed. Regarding PXP — it’s not necessary to be a PXP holder to participate, but our holders for sure will have more limits to invest in new tokens. Getting access to early-stage sales means a bargain price for the investors before the public launch on the market.
- When will KYC be implemented for all users?
The Estimated deadline is the end of Q2 of this year. We are constantly working on the improvement of our platform’s security. The information you provide is stored safely and securely.
- When will transfers work smoothly?
The same as with KYC — we expect it to happen very soon. We have already fixed a lot. Usually, the transactions are completed within 24–48 hours. We are concerned about the security of our client’s funds, so we keep them in our cold storage.
- When new exchange will be deployed?
Estimated time — end of this month.
- When lambo?
Oh, I can’t say this is my dream car to be. Tesla is more logical for someone from the crypto world in so many ways. But let’s imagine. This year I consider it as preparation: we need to fix all issues, complete the exchange and launchboard. Afterward, we will start a more aggressive marketing campaign to attract new users to the platform. So by the end of this year, I hope we will be a well-known crypto company. 2023 is the year to become stronger and prove our position in the crypto sphere. So all expectations are for 2024! From my point of view, everything is possible 💪
- What will the end of our burn-🔥 program look like? Is there already a set end to our circulating supply? And can you tell us about it yes/no why not?
We have already done 16 burns. Here you can find the prooflink. Last year we did burns every week; now — we do it less frequently. It costs us around $60,000 a pop. This money could be spent on the development of our platform. Since September 2, 2021, we have burnt 20.5 million PXP with a total value of more than $841.2 thousand. We will expand our burn program when we start to earn more money. Though now we prefer to spend the money we have on the development of our products. It’s our number one priority.
- Any chance/plans of changing the ETH network we’re on? For faster, cheaper transactions?
Yes, we have an idea to implement our own blockchain. Probably similar to BEP20. But it won’t happen this year. Maybe in 2023, when we finish our ecosystem, according to the white paper. PXP20
- How do you guys think the marketing will affect PointPay as a company? Do you have any long-term predictions of where we will be standing? Maybe even a predicted token price?
Aggressive marketing will help to increase the customer base. More users will affect the price of PXP. We can’t do it another way: it’s a free market. That’s why I don’t predict the price. But we do our best to improve the product and increase awareness. We are introducing new products next year, so the utility and value of the token should only increase. Fingers crossed!
- When 10$?
As I have already said before, we can’t value the price because, luckily, the crypto market is a free market. But we launch high-quality products and do marketing. It will definitely influence the price.
- How or when will you deal with negative comments on CMC, social media, and the previous official TG group with 50k users. This is a total shame for any company.
It’s not a secret we have issues with a previous CEO. We tried to negotiate with him a lot of times, but he decided to start a communication war with us. I don’t think it’s good for anyone. As a new CEO, I try to be transparent with our community. I do believe that truth will win in the end. Meanwhile, with the new team, we are building new products and offering people to join new chats where we answer your questions 24/7. I feel very grateful for all the support and feedback that I get from the PointPay family.
- What can we expect from PXP marketing strategy? Do we have a set time frame for how long it’ll run?
The sharp marketing strategy will increase the awareness of PointPay and will bring new users. We already do marketing: we make SEO optimization, we bring traffic to our website, we have a SERM team, and we have big plans when our ecosystem is ready. The aggressive marketing is scheduled for the end of Q2.
- More details about launchpad…how will it work, if you start some negotiations with some companies to use the PXP launchpad? Will it be ready in Q1?
PXP will be partially utilized in the launchboard. There will be a ballot system where PXP token holders will have community voting rights to list a proposed token/project through staking. This option is still in the development stage and will probably be released after the initial launchboard release. Though this will not be the only way to get the listing on PointPay. We will also list tokens and projects on a commercial basis, as well as the ones that will pass our listing committee. I hope this clears things up. The exchange on mobile apps will be realized early next quarter. We will provide you with the updates. Atm, it’s the number one priority for us among other products. Launchboard should be released in late Q1/early Q2.
- Recently you reduced APY. Why don’t you increase APY for staking PXP to attract more traders? When will it be possible to trade with PXP on exchange? When is the option for liquidity? Any competitions in the plan? Do you have in plan to redesign GUI to be more user-friendly, based on UX/UI trends? #Askpxpceo
To tell the truth, we pay for the staking of PXP from our funds. And if it was profitable at the beginning, now it’s not. It will be possible to trade PXP on our exchange right after Tier1 is completed.
We have competitions in our plans; stay tuned. And we do a redesign of the whole platform. We have already changed our blog. Classic and advanced exchanges will also get redesigned, and, of course, our mobile Apps. But we need time to implement those things. It doesn’t happen overnight!
- The user interface and user experience of the PXP platform (both mobile app and website) are terrible. When will a new interface be made?
Wow, that’s hurtful! Okay, as I have already said before, the redesign is in the works. We have already implemented it in our blog; other products are on the way. By the end of this year, it will be ready. We have a lot of products and limited resources — we need time to implement these changes.
- When will the team token unlock? Once that lock is unlocked, the team will start selling tokens, and the price will drop even more. What action will you take for this?
The date has not been determined yet, but definitely not until the ecosystem is complete and the platform will become profitable. We have plans for a gradual release with further lock-ups in order to avoid dumping the price. Team tokens are locked and are kept here: https://etherscan.io/token/0x95aa5d2dbd3c16ee3fdea82d5c6ec3e38ce3314f?a=0xc5447436cd884dfb06687778146e91be445923b8
- Just one question: 1 — it’s on the horizon to add multichain capabilities to the PointPay ecosystem? For clients to choose which chain to use for deposits or withdrawals, like TRC or SOL?
Yes, after we finish our ecosystem, it will be possible.
- Will there be a special space for merchants wanting to accept crypto?
We are developing several B2B solutions atm. Mainly for changing crypto to fiat or crypto to crypto.
- Is it in the plan to support BSC? ERC20 is too expensive. Tokens on ERC20, which start to be also tradeable on lower-fee chains, gained a lot on token price #askpxpceo
Yes, we definitely plan to add other chains when the ecosystem is ready.
- Will you keep your promise and do everything you plan to do in Q1? Or will you postpone the roadmap?
Right now, we work according to the roadmap. If something changes, we will provide you with the updates.
- When will PointPay list on an exchange that allows the United states PXP holders that bought in ICO to continue to purchase and trade PXP on a legal US compliant exchange?
It’s not an easy thing to do but we are working on it. Also, right now, we are holding negotiations with an Asian-regulated exchange. One step at a time.
- Did you already receive some good projects for the launchpad?
Yes, we have a lot of great projects in the pipeline. And our sales team is always in search of new opportunities.
- What are your plans for the upcoming marketing campaign? Perhaps you can give us some teasers on how to attract the attention of the masses.
We are hiring new people to make top-quality content. We develop our SMM to attract new customers who haven’t dealt with crypto before. We also have great expectations for our crypto school relaunch.
- In order to increase the value of the PXP token, have you planned to elaborate the BUSINESS TO BUSINESS solution after having the complete ecosystem? Example: payment devices, B2B platform, business loan, etc.
We plan to integrate API (Application Programming Interfaces) for Exchange, Bank, and Wallet products. With API B2B enterprises, developers, and individual users can integrate the company’s products with external platforms — to access the PointPay platform and extract data in real-time. For business, we want to implement crypto to crypto and crypto to fiat payment solutions.
- You promised the community that WITHDRAWAL issues would be resolved before the end of Q1. How confident are you about this promise, knowing fully well that we have a few weeks to end Q1?
We still have March to implement all our plans. I feel confident about our promises.
- You recently advertised for some VACANT KEY POSITIONS in the company, and I’m aware some persons with such skills applied. Have you been able to higher any?
We are still hiring! You can apply by this email: email@example.com.
- When will we be able to confidently use PointPay as a banking service?
FYI.. this is my second day waiting for a PXP withdrawal to be processed. My last withdrawal took over three days and multiple messages to support.
It will be possible when we finish our ecosystem.
- Let’s imagine if you open a PointPay office in the sandbox metaverse, where PoinPay will offer a loan for buying NFT and LAND in this metaverse… in PXP; the token will go to 10 dollars easy.
Thanks, that’s a nice idea. This year we are focused on complеtion exchange and launchboard. But next year — why not? First, we establish the crypto bank, and then — virtual PointPay bank. We want to be a part of the virtual revolution!
- When will our exchange be fully functional? Rough date, thanks.
We plan to finish it by the end of this month.
- PointPay will quickly accept Central Bank Digital Currency (CBDC)?
We are going to accept different tokens. There are no borders for it.
- Which publicity will PointPay use to be known? Be on YouTube or something else.
As you can see, we communicate with crypto media. We have our own YouTube channel, and sometimes I personally give interviews to other bloggers. This year we want to become more public and famous. And we have all needs for it!
- We heard that to list a token on Binance it would be necessary to pay 300K.
Oh, it’s not about the price. To be listed on Binance, we are ready to pay $1,000,000 and more. Unfortunately, they have many other requirements. But we are working to fit them.
- We would like to know if this payment could really speed up the listing because the community could unite in favor of this dream.
So the payment won’t speed the listing. It doesn’t work this way.
- We already know that the daily volume of 10M and already being listed in a Tier1 would be prerequisites for Binance.
Now we don’t have a volume which is needed. But to be listed on Binance is our dream! And we will do everything to bring it into life.
- What are the next registrations and certifications that PXP aims to achieve?
Now we have a Lithuanian license, and we are in the process of getting an Estonian license. And, of course, we are going to get a bank license as well.
- Do you have any timeline or deadline for these registrations/certifications since I didn’t find much information on the roadmap?
Unfortunately, this timeline doesn’t depend on us. But we are doing our best to speed up the process. And we plan to get at least one crypto license.
- For Pointpay, what is the most important registration / Certification that could turn the key to PXP?
We already have a money business license in Wyoming, USA. Now we are working on getting licenses in other states.
- I would like to be able to visualize this PointPay team working, to have a little peace of mind to see that they are, in fact, not only receiving a message or speech saying that, at least the psychological one gives a lively… Would that be possible?
Even though we have physical offices, it is true quite a lot of people work remotely. This way we can attract global talent and save on the costs of running a huge office. Office costs for 130 people would be around half a million dollars a month. Most members of the core team have CVs on LinkedIn. However, not all of them want to be public (we can’t force all of our employees to publish their CVs). Plus, there are poaching concerns — we advise our regular developers not to have public accounts on there. My profile is public; you can find it here — https://www.linkedin.com/in/kardapoltsev/. Around 80% of Binance and Kraken employees also work remotely.
- On Telegram, there are several groups of signals. Have you ever thought about sponsoring to recommend PXP?
Yes, we will consider doing it in the future as another marketing tool.
- Now with the entry of the Grays in the project, how do you believe in dealing with the increase in purchase demand and providing the sale in the App?
Hi Grey! You’re very welcome 👽🖖 We are ready-ready for high demand, preparing our rocket to the moon 🚀
- Have you ever thought about adding sports betting to the PXP platform? When is the launchpad expected to be ready? Among the marketing proposals, is sponsoring sports teams contemplated? Have you ever thought about partnering with a game and the game reward being in PXP?
No, we are not planning to add sports betting to PointPay. Maybe only as a project for our launchboard, which is going to be ready by the end of Q1. I like the idea of sponsoring sports teams. And I really enjoyed the ads of Coinbase and Crypto.com at the Super Bowl! That’s the level of marketing we are aiming for!
- How is the issue of marketing and dissemination on social networks to promote PXP? The project will be available for one year for the general public to invest, and even then, we do not see investments and only planning and speculation in this area.
Aggressive marketing will bring new users to our platform. That means the growth of the price of PXP. But first, we need to finish our ecosystem so we could accept a new wave of customers.
- Even though you were CEO after the launch of PXP, what can you say to investors who believed in and jumped into the project before the listing? Which left the vast majority dissatisfied not by the devaluation caused by the market but by the team itself. We invest because we believe in the project, but we need more concrete advances and updates that really leverage the project. Because so far, there have been practically bug fixes and visual updates on the app and platform.
About the updates: at the moment we are doing the redesign of the whole ecosystem, we rewrote the exchange, we are launching new products and developing everything we can before starting aggressive marketing.
Such companies are not built in one day. When we finish our ecosystem, the price of PXP should grow. It was the same with BNB: the price was changing while Binance was growing. The price of BNB became stable and high when Binance became a global project.
🔥 Buy PXP tokens on Bittrex: https://bit.ly/32VWsci
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🔥 Buy PXP tokens on WhiteBIT: https://bit.ly/3qJrjRH
💰 Earn up to 20% yearly with PXP staking program in PointPay Bank: https://bank.pointpay.io/staking
💡 Check PointPay Live-Roadmap (PointPay development in real-time): https://pointpay.io/live-roadmap/
🏦 Remember, we are PointPay, and we are beyond banking!