Paycer Community AMA Recap from 2022-July-25
Paycer’s monthly Community AMA took place today on Discord. Nils Gregersen (Founder & Managing Director), Christoff Berlage (Head of Marketing) , Mahsa Doorfard (Marketing Manager) and Austin (Community Moderator) were present from the Paycer team.
5 Questions were gathered from the Discord community and 5 questions were chosen live during the AMA.
Austin: “The first question was from Duri Binda. How will their employees convince their customers when, often, they don’t even know what DeFi is, but more importantly, how will they explain the natural fluctuations of the crypto market?”
Mahsa: “That’s why our marketing team is focusing on increasing the general DeFi knowledge of the society by creating educational content. The more people get engaged with the DeFi industry, the faster the progressions will happen.
Moreover, the good thing for our customers is that they don’t need to worry about the specific protocol choices or how sustainable/dilutive their emissions are. Our protocol takes care of that based on data.
Non crypto investors will be advised to invest in stable coin based investment products to stay away from crypto fluctuations. With high inflation it gets even more important to invest money into DeFi/CeDeFi or people might lose their savings and wealth.”
Austin: “Next question was asked By Vojta Pudil . Where do you see yourself in four years? Do you think you’ll be in the top 100 at CMC?”
Christoff: “Based on our roadmap, we’re looking forward to becoming the leader for European DeFi platforms in 1–2 years. Launching branch offices, increasing mainstream marketing operations and applying for finance licenses are some of our visions.
In 2024 we will start targeting American, African and Asian markets and we will do more talent acquisition to expand our team. Regarding the Paycer NFT we have most likely reached our goal of launching NFT credit cards with cash back features which can be used in Metaverse and we will focus on gamification of Paycer NFT”
Austin: “Now the market is downing, does Paycer have any plan for surviving, also sustainably developing in Long-term?”
Nils: “The Crypto Winter will filter the users and even more the projects. The teams that were here just to get quick profits will get filtered out but the ones who were building the foundations of the future financial system with a long term incentive, will stay.
The crypto winter will also decrease the costs within the crypto industry because less projects need marketing, development, influncers etc. The fluctuations of the market won’t shake Paycer. We will keep on building what we have promised and we believe in our vision.
Most of the crypto projects are unregulated or semi-regulated. But Paycer is registered in Germany and is following the regulations within the European union. We are in close contact with BaFin and actively working on banking partnerships.
This will ensure our long term sustainability in the market. We will also position Paycer a bit more in the fintech segment, if investors step away from web3 for now”
Austin: “Telurku2 asked the 4th question: as you said on twitter :34% Gamers are interested in Crypto Deals on Metaverse, while 16% have bought NFT in the past. my question is pcr enters metaverse and has its own NFT can you explain what is your purpose in joining metaverse and NFT?”
To summarize, the NFT as well as the Metaverse technology are very fascinating. They go way beyond sharing and owning colorful artwork and VR games. Since we are a team with a strong technical understanding, we are aiming to utilize this technology within our project. The future of non fungible tokens and Metaverse is very bright and we want to position Paycer to drive DeFi mass adoption, but also ride the adoption wave of NFTs and the Metaverse.”
Nils: “With the Paycer NFT we can also implement new utilities for the Paycer token and create more partnerships with NFT and GameFi projects. I am already in contact with some Metaverse projects”
Austin: “The last Question for this session is asked by Haruyo Kasami: Many DEFI platforms on the market do not provide enough transparency to their users and investors. In particular, it is not known how the funds were evaluated. Could you tell us about Paycer’s approach to Transparency?”
Mahsa: “Transparency is the factor which makes Paycer stand out among the other DeFi projects. The whole team’s information and background is accessible online. Moreover, if you check the Paycer’s public gitbook you can see a lot of the development that is happening.”
Austin: “That would be the end of the first part of the AMA. the chat will be opened for new questions and our team will choose 5 Questions to answer”
Y.M: “Will the partnership with the German bank allow you to work in all EU countries or just in Germany?”
Nils: “We have just signed the prelimetary contract with our German partner bank. However we are under NDA at the moment and can not share any further details yet. But we are making really sweet progress here. It will allow to accept clients from all over the EU.”
Alison: “First, i want to thanks to the team and congrats all for the project and the efforts made until here on this project. I believe a lot in this project. For me, the best project inthe space. So, i’m very glad to join this AMA. My question is: Which specific about technology and strategy of Paycer that make you believe it will be successful and what does Paycer plan do to attract more users in the upcoming time?”
Christoff: “we have built a protocol that can invest your money automatically into yield bearing strategies. The whole process is done on-chain, is auditable, save and based on rules. So very easy to get started with DeFi yields without having to understand every defi protocol out there. We will attract more users especially with our upcoming financial products and services — think an online account on your phone, which also lets you invest in defi.”
Leona93: “Regulation is very important. Many companies find it difficult to thrive due to regulations and laws. For PAYCER to go global how would your team deal with regulatory issues?”
Mahsa: “It is indeed difficult for un-regulated and semi-regulated DeFi companies to survive. but Paycer is a completely regulated company which is registered in Germany. even though our services are related to Decentralized Finance Industry, our company is fully centralized and it makes it easier for the community to trust the platform and for the team to deal with regulatory concepts.”
Nils: “Regulation is very important. Many companies find it difficult to thrive due to regulations and laws. For PAYCER to go global how would your team deal with regulatory issues? We are working with a very experienced German law firm and have a lawyer (Helge) as a co-founder. Our PCR token was already checked and designed to be compliant with German law.
We are also pretty close to our banking partnership deal. In addition we have a running BaFin request to offer DeFi investment strategies. Paycer is taking good care of all the legal matters and that is one of our advantages.”
Alexa Harris: “Staking NFT is a hot topic. will you apply NFT technology to your products in the future?”
Austin: “We’re done with today’s AMA. thank you for contributing and being here.”
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.