Paycer Community AMA Recap from 2022-August-25
Paycer’s monthly Community AMA took place today on Discord. Nils Gregersen (Founder & Managing Director), Mahsa Doorfard (Marketing Manager) and Austin (Community Moderator) were present from the Paycer team.
5 Questions were gathered from the Twitter community and 5 questions were chosen on Discord during the AMA.
Austin: “First Twitter Question by @Keyleehoang. How does Paycer become expensive in the crypto market with thousands of different projects which are born every day?”
Mahsa: “Paycer has some characteristics which makes it stand out among the other projects. First of all we are completely transparent. The whole team’s information and background is accessible online. Moreover, if you check the Paycer’s public GitBook, you can follow the current developments with details of the workload. Comparing the Scrum tickets to the roadmap will make it easy for our users to see if Paycer is actually sticking to what has been initially promised.
Moreover, one of the common struggles of DeFi projects is related to regulations. However, Paycer has the privilege of working with a very experienced German law firm and one of the co-founders (Helge) is a lawyer. Our PCR token has already been checked and designed to be compliant with the German laws.
As we mentioned in the last Medium article, In late July we signed the first contract with our banking partner that will enable us to provide full bank accounts, crypto trading, VISA cards and more. This is a huge step which will differentiate Paycer from the other projects.”
Austin: “ @AshishOnia asked the Second Question. Has paycer already established a banking partnership or is it in the look out for establishing one?”
Mahsa: “As mentioned in the former question, we have already signed the first contract with our banking partner in late July; although, we still haven’t shared more details with our community. It’s a huge step and we want it to be special. Follow our social media for updates regarding the banking partnership.”
Nils: “The last meeting with our banking partner was yesterday. kickoff will happen very soon. although, we can not share the partnership yet. Because sharing too early might result in receiving warnings from BaFin.”
Austin: “An interesting Question by @AmeenIssah How Can we stake your Token and how much is the APR for your staking program? Also, what are the other ways to have profits here?”
The interest rates for staking on Paycer are moderate as it is a solid and long-term project and a stable staking reward rate should be paid over a long period of time. The base rate for PCR staking is 12%. In addition, there are 4 loyalty tiers that depend on the staked amount of tokens. The loyalty tiers can increase the interest rate up to 24%.
Check out this table for more details:
Another way to earn more profits would be the Paycer NFT. It has many utilities which range from use cases in Metaverse to Paycer NFT Credit Card. The NFT can be upgraded by using PCR tokens. This will unlock additional functions and utilities for the users.
Austin: “Here is another interesting Question, asked by @KentMcQuain. With the impending banking partnership announcement, what are the plans for marketing? Marketing in the crypto world is probably a given, but will we see any announcements in mainstream media?”
Mahsa: “In the last few months, we have invested a lot of time and energy on brand building and marketing strategies in order to be able to position Paycer optimally in the future. We worked with a brand-building and marketing agency from Singapore and conducted several online workshops. In addition, we also conducted workshops internally within the Paycer team. The result of this process is a rebranding in terms of colors and brand message.
We have already started educational video production on TikTok and we will start our YouTube Channel very soon. Moreover, Paycer is planning regular crypto meet ups in Hamburg which will boost our marketing as well. After the official announcement of the banking partnership and launching the Super App, our team will take part in global Finance and crypto summits to expand the realm of our marketing strategies and connections. There will definately be press releases and interviews on different forms of media. We have a lot of Marketing plans and we can’t wait to share it all with you. Stay tuned.”
Austin: “The last question before we open the chat for active participants to ask their Questions. @Kaarriiiin’s Question was picked as the 5th Question of the day. Have you had any new partnerships recently? And what are the advantage of this partnership for your project?”
Mahsa: “For easy integration of Paycer NFT in Metaverse and GameFi projects, Paycer has teamed up with REACH Metaverse https://reachmetaverse.org/ . they will create Paycer’s own Metaverse space. We call it Paycerverse. Users can ride their NFT horse inside this Metaverse as well as chatting and integrating with other Paycer NFT holders.
Furthermore, we are currently in contact with a GameFi project that will soon launch a cool 3D game with NFT integration. It is planned that the Paycer NFT will be integrated there as well.”
Austin: “The first session is done, the chat will be opened now for your questions. Only 5 Questions will be answered. Thanks
Y.M: “What will happen first — the launch of the application or the announcement of a partnership with the bank? Does Paycer have a backup plan (another partner bank) in case the contract with the current one is not signed? Is there an approximate date for announcing the partnership with the bank?”
Nils: “Shortly before the beta launch we can start co-marketing with the bank. Yes, we have a backup bank, we might even be working with both at the same time, because the other bank can provide some additional features like ETFs, that we could add also to the app.”
Ben Jonathan: “Will you plan to raise the awareness of your project in regions that English is not well-spoken? Any local communities to bring them better understanding of your ecosystem?”
Mahsa: “for sure our first market will be Germany because it’s where our company is registered in and most of the team are based in. we are looking forward to become the leader in Europe by expanding our services and network. and for sure we will target other local communities as we go further in our roadmap. Paycer will get bigger step by step. BTW, we already have some local channels in our discord for some languages such as Persian, Turkish, Russian, etc. active members of the community can built up their own Paycerian group here on Paycer’s Discord.”
Bane: “We understand that Paycer team is looking to generate 1–2 million through NFT sales which team might use for developing the project further. However, what is stopping a regulated project like paycer to approach VCs who can very well invest million’s which can be very beneficial for project development as well as bring the attention the project deserves among crypto community.”
Nils: “”Well you are right, but to be honest I think at the moment it would be quite hard to raise 1–2M with an NFT sale. But let’s see how marketing the NFT goes
We have some cool things in the pipeline for the NFT. Regarding the VCs we were in contact with a few VCs all the time, but we were waiting until we have the signed banking partnership to really focus on this. Since the last crypto crash the VC market is a bit harder. We are currently finishing our new investor deck and will approach a lot of VCs soon.”
Eric45: “Paycer is currently listed on 1 CEX, do you plan to increase this number in the future?”
Mahsa: “It costs between 100k to 300k Euros or even more to get listed on CEXs. in our current stage, we find it more reasonable to spend money on the development of our Platform, App and NFT. but for sure we will take it into account in the near future.”
Nils: “Once we have our app running and a lot of traction the CEX might ask us to list.”
Austin: “Thank you for providing detailed answers.”
Paycer’s goal is to aggregate DeFi investments multi-chain and make them available to users without the need for their own wallet nor the expertise. This should allow anyone to generate a passive income in a world where banks no longer pay interest. Hence the Paycer team is developing a bridge protocol for DeFi and TradFi to combine the best of both worlds and make it available for retail clients #CeDeFi. Apart from the technical matters and the creation of a super easy to use final product. The goal is also to create a regulatory framework that allows the legal operation of a DeFi platform within the EU first and subsequently in other regions.
Currently, a DeFi platform is already available on paycer.finance on which Paycer tokens PCR can be claimed and staked. More features will go live soon. At the moment on Polygon but other blockchains will be integrated in the near future. Paycer is also working on a banking partnership to be able to combine DeFi with a traditional bank account. In addition to the development of the DeFi platform, the development of the final consumer product is also in progress.
Be sure to follow Paycer on social media for all the latest updates on product development. We have further exciting announcements to share very soon.