Paycer Community AMA Recap from 2022-October-27
Paycer’s monthly Community AMA took place yesterday on Discord. Nils Gregersen (Founder & Managing Director), Richard Vo (Founder and Managing Director) and Mahsa Doorfard (Marketing Manager) were present from the Paycer team.
Only PCR holders were allowed to join the AMA channel and ask questions. Here’s a summary of the questions and the answers:
- “Now that you focus on the CeFi app first (DeFi integration later), how will the NFTs be included and whats their purpose until the connection with the DeFi part is ready? What’s the planned order of releases: NFT -> CeFi App -> CeDeFi App?”
- Nils: “We plan to release the NFT, then release the Paycer app with CeFi features, then launch the CeDeFi features next in the same app.”
- “What is time line for the release of the products ie NFTs, CeFi and CeDeFi? how is the utility of each, linked to the price of PCR? Please provide some details. “
- Richard: “We plan to launch the NFT in Q4 2022, but with a close look on the current NFT market situation. The NFT will be upgradeable with PCR in the future. We also plan to have breeding in the future that is paid with PCR. PCR will unlock different loyalty tiers with benefits in the CeDeFi app later.”
- “could you make a liquidity pool on paycer.finance USDC, USDT and connect it with some projects? how difficult is it ?”
- Nils: “We can think about this. this is more complex regarding legal matters.”
- “How big is the team after the “layoffs”? is the team strong enough to deliver the anticipated roadmap items?”
- Richard: “The team is 9 people, but we have seen in the last months that the bigger team size was slowing us down. So we think we can make more progress with a smaller team at the moment.”
- “As we understood, the Marketing Team is significantly smaller now. what are the plans to getting the word out there for Paycer and drive adoption?”
- Nils: “We will do the core marketing activities with our current team. We also plan to work with influencers regarding the Paycer NFT. When new investors are on board, we increase the marketing. It also makes a lot more sense to do more marketing when the app is released.”
- “How can the community support the team in the future?”
- Mahsa: “Maybe we can have some supporters that are paid in PCR and help to maintain the Telegram and Discord.”
- “Are there any plans to improve the current lack of communication to the community and what are those plans?”
- Richard: “We had some bigger issues to solve; but we can focus more on the community now. But the communication lack was more regarding Telegram and Discord. On Twitter we have been updating the community quite frequently.
- “When will this information be updated on the website?”
- Nils: “We are currently working on a complete new Paycer website with the new branding etc. when this is launched everything will be up to date.”
- “Is the MilkywayEx saga over? Was it possible to solve/return something or is it already a dead cat?”
- Richard: “Well Milkyway is not answering us and they also rebranded. We need to check how or if we can continue to sort out the issues with them.”
- “What will be the role of the partner bank in the project, can we expect financial support/investment from it? And how does the bank assess Paycer’s current financial situation?”
- Nils: “The partner bank has a very important role in the project because they will enable the banking features and access but also crypto custody and trading. We had a face to face meeting with them last week to discuss the financial situation and we have a first agreement with them that is very positive for Paycer.”
- “What is the current situation with the search for investors, is there interest in the project or negotiations? Did you manage to collect anything on the Angel Investment platform? Was there any help from our investment advisor? “
- Nils: “We are in negotiations and there is some interest in the project. But in the current situation the investors are very cautious. I was talking to VCs together with the investment advisor back in July and he will continue to support us on that. It is a hard situation at the moment but we need to be creative and make the best out of it. We are pretty sure the market will look much better early next year.”
- “What will happen to the project, what are the plans in case it is not possible to raise funds?”
- Richard: “We will continue to talk to investors and to develop the app and at some point we will find investors.”
- “The NFT project is supposed to deliver extra funding for the project. At this point, how is the team planning to reach potential buyers without the funds to market it? How many nft’s do you think you can sell in this situation, where the team deliberately choose to not build a community in the last months(nft buyers)”
- Nils: “We are in contact with some NFT influencers they will get a small share of the NFT raise so there should be no upfront costs for Paycer.”
- “Is the freelancer who is building the app already paid in full to deliver the app?”
- Richard: “We have some ideas to work with the freelancer and how we could be able to bind him more to the project.”
- “The app is supposed to be CeFi first. Whats the real utility of the pcr token at that point?”
- Nils: “The PCR token will allow users to have a more premium accounts, different VISA cards and more benefits.”
- “Is there anything that the team learned from this communication disaster in the last month?”
- Richard: “Yes we learned that anything we decide internally can reach the community very quick and we need to be prepared for it. But if you decide to dismiss several employees you first need to talk to the employees before you can make it public. But yes, there is definitely a lot of room for improvements.”
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.