last Friday we had an internal Live Telegram AMA in which the community asked their questions and received PCR. in This post you will find some insights about the questions asked and the answeres received.
Richard Vo (Founder & Managing Director) , Nils Gregersen (Founder & Marketing Director) , Helge Ippensen (Co-founder & CRO) , Patrick Charrier (Senior Blockchain Developer) & Mahsa Doorfard (Marketing Manager) were present from the Paycer team.
Mahsa: “Question 1 is asked form @jailcheon on Twitter: Do you plan to get listed on bigger exchanges like Binance?”
Helge: “Of course. We are already listed on DODO exchange and MEXC global exchange. Our focus in 2022 is Marketing and we are planning to get listed on big exchanges.”
Mahsa: “Question 2 is asked from @Nic1Cool on Twitter. your website states that “Paycer will have a partnership with a financial entity for an official banking license”. Can you please discuss more about Paycer’s banking license and its details? Where is Paycer’s liscense based in?”
Richard: “We are currently in the last stages of negotiations with a bank that wants to partner with us. After finalizing the legal terms we will most likely offer a bank account, crypto custody, crypto lending, a debit card and more to our users at Paycer. The target is to combine TradFi and DeFi as an easy to use CeDeFi platform that attracts crypto users but also inexperienced retail clients.”
Mahsa: “The 3rd question was asked by @JaLakB4Li on Twitter: “Most individuals, especially the late adopters of crypto, still find the crypto world difficult to comprehend. So, what role does Paycer play in this, and how do you think Paycer might assist people better comprehend the crypto world and your project?”
Helge: “That is one of the points why I am in this projekt: Paycer’s vision is not limited to monetary aspects of the industries. We want to expand the realm of knowledge of the mass population and pave their path to enter the complicated world of DeFi and new technologies.
We are currently preparing the infrastructure for Paycer Academy to create free educational content for everyone. Paycer’s aim is to make Decentralised world easy to understand for non-technical people. We all are in this together and the prosperity that comes with DeFi should be offered to everyone; not just tech savvys!”
Mahsa: “Exactly. Paycer is contributing to the DeFi industry and it benefits everyone 🤩 @Andrew58184012 has asked the 4th question on Twitter. He has twitted: “I was exploring your website and i couldn’t find your roadmap. Do you have one? Could you share it? I am curious to know your plans and strategies for this 2021.”
Richard: Of course we have a Road Map. when you open https://www.paycer.io at the top of the page you see “Road Map” in which you will have access to our visions and plans for each year until 2024.
In 2022 we will work on more strategic partnerships and to expand the legal part of our services and compliances. There will be more security audits and the Paycer DeFi dApp will be launched as well as the beta release of the Paycer Platform. We are focused on Marketing and we are expanding the team to grow faster.”
The next steps would be improving stability and resilience and launching new services. We are looking forward to becoming the leader for the European DeFi platforms and launching different branch offices in different countries. We will definitely expand to the American, African and Asien markets.
Nils: “This is the summary of the road map in the upcoming years:
Mahsa: “Perfect. The road map will be easier to understand with pictures. And here we go with the 5th question from Twitter. @Margaret6294 has asked: Before a project is born, lots of brainstorming activities to get a befitting name for the project must have taken place. Any significant reason for choosing the project name? What reflection & significance does this name bring to this project?”
Nils: The name and the Logo reflects the services and solutions that we offer. The pay in Paycer should highlight the financial aspects behind the project. The Pacer (horse) should display the speed and ease of use. The Shield in our logo stands for security and regulatory matters.
Mahsa: I am personally in love with the pink horse of Paycer ☺️ and it fits the name as well. next question is asked by @Bewakuf55 on Twitter. DeFi is a hot topic right now in our Crypto Space. My question is, did you make this project only short term because of the hype? Do you have a long term plan for this project?
Helge: Paycer has a lot of big visions and we are definitely a long term project which is here to stay! It might be interesting for the community to know that Paycer’s founders had this idea more than 8 years ago; way before the crypto hype. As it is evident on the Website, the team is growing and we are making more progress everyday.
Moreover, most of the scam projects that are just misusing the crypto hype, don’t have any actual solution to offer but Paycer will solve many real-life issues in the financial world.
Mahsa: “Indeed. Paycer is Visionary, futuristic and full of potentials. the 7th question is asked by @Bm160902. you have stated that “This will generate a stable interest rate up to 20% for the client‘s savings. Higher rates will be possible through Paycer token staking.” so, where does the project’s revenue come from to pay for that and continue to develop the project?”
Richard: We will have different revenue sources. Paycer will take the best opportunity to pass the APY to our customers. Let’s look at Terra Luna or stargate.finance where 20% APY is realistic. In addition, we will leverage our product with our token so that we can give our customers very good interest rates. DeFi is a part of our revenue stream.
Mahsa: “Thank you for the explanation. just 2 more questions from Twitter and then we will start with the instagram questions. question 8 from Twitter was asked by @RSituo: What are the functionalities of PCR within Paycer system? What are its utilities?”
Richard: “PCR is Paycer’s Token that is based on the ERC20 standard and launched on the Polygon blockchain. The Maximum supply will be 750M and the use cases will be loyalty programs, Voting Right, Staking, Platform incentives and more.
Most of the PCR tokens are allocated to the community and will be distributed by token sales, marketing events, staking rewards and liquidity mining. There will also be a token buyback program based on the Paycer revenue. PCR will also go multichain very soon.”
Mahsa: “Nice. queston 9 is asked by @borz_yaroslava on Twitter. Does your project support staking program? if yes, how does your staking system work? what are the requirements for users, if they want to stake on your platform?”
Helge: Paycer also provides staking of PCR tokens on its DeFi platform paycer.finance. Through staking, users can already put their Paycer tokens to beneficial use. Through staking there is some but little inflation of the token number and the early holders of the PCR token will be the ones who will receive the most payout in staking rewards.
To participate in the staking, only PCR tokens on Polygon and a very small amount of MATIC for the gas fees are required. At the time of writing, there were already over 4.1M PCR tokens staked. Impressive 30% of the maximum PCR supply will be distributed via staking to early investors.
Regarding these 30%, we are talking about 225,000,000 PCR tokens that will be distributed to the community. In the future, these investors will hold large amounts of PCR tokens and will thus also be able to influence the product through their votes. To learn more about Staking PCR read this:
Mahsa: “I suggest everyone to check out the link. And the last question from Twitter was asked by @pelageiaZele: 10. Where can I buy your tokens right now? Will you have any other DeFi features like NFTs in the future?”
Patrick: “You can buy PCR on MEXC global exchange. You can also visit our website paycer.io. For farming and mining opportunities, take a look at dodoex and unifarm: DODO — Decentralized Trading Protocol for Web3 network=polygon Unifarm Dashboard Make sure that you are on polygon-blockchain.
In near future we will also launch our token on Binance smart chain, Avalanche and many more. Regarding NFTs, Paycer is working on it’s own NFT project. We will update the community about the details when they get released. There will be some incentives for the Paycer NFT holders.”
Mahsa: “Amazing! thank you for all the answers. Now i’m gonna start with the instagram questions. question 1: Is paycer legal? did you get permission from the german government and why did you start from germany? which country is your next target?”
Nils: “Being regulated is one of the features that makes Paycer stand out. The Paycer platform will follow the regulations and will operate within the European union. We started from Germany because our team is based in Germany and our company is registered in Hamburg.
For sure our first Market would be the German Market. but we are currently working on some Business Development and Marketing strategies to expand globally. we will target Europe, USA, South America and Asia. we have a very positive vision regarding our partnerships. so many huge international projects have shown interest in Paycer.
we are looking forward to focus on Marketing this year to bring more retail users to the community and expand all around the world.”
Mahsa: Cool. 2nd question from Instagram was asked by @saniatamala99 Can you tell us what motivated you to build Paycer? What are some of the real-world problems that Paycer aims to solve?
Helge: Currently, Many people are losing their wealth gradually year after year because they are not getting interest on their savings. so, every year they lose about 2–7% of their wealth due to inflation. Decentralized Finance offers good interest rates without being dependent on a bank. However, using DeFi is pretty difficult; even for the people from the IT industry!
DeFi market entry would be barely impossible for non crypto users. DeFi protocols are complex and require a deep understanding of the underlying technology and Non- technical users can’t read smart contracts. Another problem that the DeFi industry is facing is that many Crypto platforms operate unregulated or semi-legal. Moreover, banks exclude two billion people who don’t have enough money to justify a bank account!
All these problems encouraged us to step in and offer solutions to prepare the mass population for the next era of the Internet; Defi and the internet of Value to bring long term prosperity for the mass population. For sure it won’t happen in a day But we are getting closer to our ultimate goal every day.”
Mahsa: “I am amazed how Paycer is moving forward so fast. The 3rd question from Instagram was asked by @elzamemora Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space.”
Richard: As mentioned before, we are in the CeDeFi industry which is the abbreviation of “Centralised Decentralised Finance.” It will be like a bridge between the Crypto world and the traditional financial world. Once we announce our Banking Partnerships, we will attract a lot more attention in the non-crypto financial sectors and great things will happen for the whole community of Paycer. With simple and regulated products we can appeal to users who have had little or no exposure to crypto. In the future, you will see advertisements for Paycer in financial magazines etc.
Mahsa: “The brdige between the traditional and the modern world. how cool is that! 😎 The 4th question from Instagram is asked by @Martmeier : Just found about you guys, awesome protocol. Like that you are going the CeDeFi way. My question would be: Cross-Chain these days is necessary. What chains are you looking to integrate into the investment solutions? Ethereum, BSC and Polygon I assume, but what about my favorite Fantom and non-EVM-chains like Terra and Solana? They have pretty nice dApps all your users could get into via Paycer.”
Patrick: “Our goal is to launch our products on different blockchains. We started with Polygon. BSC, ETH and Fantom will certainly follow also others like Avalaunch. We will do this depending on the opportunities that the respective blockchains offer us. We aggregate interest. Over all where there are high, stable and secure interest rates, there we will migrate our tokens and products.”
Mahsa:” amazing. and here comes the last question from Instagram: it was asked by @nadia_tamala96: what are the advantages of your project over the others?
Nils: Regarding Paycer’s advantages; first of all, there is no similar project in Germany which makes us a pioneer in the industry. In comparison to the similar projects in the other continents, Paycer will provide a very clean user interface and simple processes that fully meet the requirements of our customers. It empowers everyone to use DeFi. Paycer will combine multiple DeFi products Cross-Chain to generate a stable and secure interest rate for client’s savings. Higher rates are possible with Paycer Token staking. Paycer will evaluate DeFi product risks and smart contract code before investing any assets. The financial services offered by Paycer are so diverse: Crypto wallet, bank account, lending, liquidity pools, simplified DeFi access & high interest rates on personal savings. Moreover, The Paycer platform will follow the regulations and will operate within the European union. Paycer is in close contact with BaFin and actively works on banking partnerships. BaFin is the German Federal Financial Supervisory Authority.
Mahsa: So we are done with the questions. Thank you all for contributing. in the next stage of AMA, we will open the chat. you will have the chance to ask a question. after 2 minutes we will close the chat again. each member of the team who is present now will choose one question and will answer it.
@Pandalucu66: “How does Paycer deal with other project currently obstacles to accessing DeFi services : high gas cost with on-chain transactions, liquidity being fragmented to various protocols and services, trade fee, subpar UI/UX and lack of efficient market-making mechanisms?”
Nils: “We are using chains with lower transaction fees like Polygon etc. until this issue is fixed. We are currently working on our own blockchain bridge to transfer liquidity between different networks.”
@MilkTrudge: “your project has been launched three months ago, but there is still some problem with the price; have you got any strategies to improve the price? it is below the IDO price. The Market Maker is mentioned in your whitepaper roadmap (Serpentine Mountain 2), when will they push the price?”
Richard: “We are currently optimizing our tokenomics. A strategy for a potential price increase is in the works. We will see your potential pricing as soon as we have the first DeFi products ready. Please note that a market maker can provide price stability, but cannot push the price up.”
Nils: “We put a lot of work into Paycer it will soon be reflected. New Partnerships, new features and a lot more is coming🚀 Since we care about the legal part we can not launch everything over night 😉”
@Pandalucu66: “Cross-chain development is currently concentrated on many platforms: So, how will Paycer consider this as the technology development focus of the platform? What benefit will this bring to users when they use PCR token to get other tokens and vice versa?”
Richard: “Our focus is to bring PCR tokens on multiple chains. This ensures that access is easier, as each user uses their preferred blockchain. Also, there are different projects where we can exploit APY to create a good product.”
@trehyx4321: “What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?”
Richard: “Banking Partnership, 2. Mainnet launch with paycer.finance. 3. Beta launch of the CeDeFi endproduct.”
Helge: “beside the development of the product, we work hard to solve the business issues such as: banking licence and the official permission by the german officials and regulators. We are in deep negtiation with a banking as a service provider. This will be the “game-changer” for us and the project. So we are seriously very optimistic to this point.”
@Pandalucu66: “Paycer Leveraging different DeFi protocols and strategies to maximize user profits as a Yield Aggregator. So What type of tech are you going to use which will allow you to continuously provide highest APR/APY irrespective of the increasing number of users that joins the pool?”
Patrick: “Besides the APR/APY there is also the problem of risk that needs to be considered. For managing both risk and APR/APY we are working on a risk mitigation service. This service will continuously scan all strategies for their properties and may in consequence decide to switch the strategy if some criteria are not met and/or the APR/APY conditions are better elsewhere. The service is based on the DeFiScore open source project. This way Paycer will always choose the best strategy for a specific asset at a given time.”
Mahsa: “Great. I appreciate the time and energy the team has spent to explain everything. To the Paycerians whose questions were asked & answered in the AMA: Please send me your ERC-20 wallet Polygon Address as well as the screenshots which prove you are following Paycer’s instagram and Twitter. and then you will receive your PCR Prize. We are done with the AMA. the chat will be open again. see you guys later and have a great day.”
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.