Telegram AMA Recap: DePay
Basic information
Time: 2PM UTC | Sep 27
Project name: DePay
Host: Andrew from BSC Army
Guest speakers: Sebastian @Sebastian – Founder and CEO of DePay
Main content:
Segment 1: Introduction
Segment 2: Twitter’s questions
Segment 3: Live Q&A
MAIN CONTENT
Greeting
Andrew: We will start this AMA session with the representative of a great name DePay in a few minutes.Hope everyone will take a moment to monitor and evaluate the investment opportunity.
You must follow the following channels in order to participate in AMA:
🔸Join DePay (https://t.me/DePayNews) | BSC Army (https://t.me/bscarmychannel) Telegram
🔸Follow DePay (https://twitter.com/DePayFi) | BSC Army (https://twitter.com/BARMY_Official) Twitter
Welcome to our guest @SebastianDePay – Founder and CEO of DePay. How do you feel today?
Sebastian: I feel great! Love how the markets recovered from the China FUD weekend
Andrew: Cool, I could feel how energetic you are.
I will tell you the rules of today’s AMA. We will have a total of 15 questions and are divided into 3 separate segments.
Segment 1: Introduction (5 question)
Segment 2: Twitter Questions (5 questions)
Segment 3: Live Q&A (5 questions)
Have you got it?
Sebastian: Cool, can’t wait, lets go Andrew
Andrew: So, let’s start!
Segment 1: Introduction
1. Could you please introduce a little bit about yourself and about DePay?
Sebastian: I’ve started programming like 20 years ago (in my teens), and until today I don’t understand why I’ve joined the crypto and blockchain space so late. It just never reached me, I guess…
In 2018 I was reading an online article about Gods Unchained and how they attempt to do what Magic the Gathering (a very known trading card game) to the blockchain and introduce digital real ownership to people owning those cards.
This finally got me into the crypto space and that’s also where I started building on ethereum.
In 2018 I’ve built a blockchain explorer and NFT exchange for Gods Unchained, still one of the most successful games on Ethereum:
https://gu.cards
https://www.blocknative.com/blog/gu-cards
In 2020 I had a lot of exposure to DeFi and I’ve just connected the dots of what needs to be build next after the rise of liquidity pools and automated market makers (e.g. Uniswap etc.) and it was decentralized payments.
I’ve joined Ethereums biggest yearly online event in October 2020 and became finalist with DePay:
The extremely positive response after we have presented our technology in the finals allowed us to kickstart DePay and start a journey to bring an entire product lineup of various decentralized payment protocols and products to the market, like Payments, Subscriptions, Payroll, and Credit:
https://depay.fi/blog/product-lineup-10qWozsQ9RLgYWf7NKP6EB
Andrew: Wow, it is such a detailed answer and I love the way you do it.
2. What are the services and products which DePay offers to users?
Sebastian: DePay simplifies crypto payments, I explain it best with a simple example. Imagine you run a website or Dapp, or you simply want to request a crypto payment from somebody else. Usually, you gonna request that payment in the “currency” that you prefer, let’s say USDT, now the other side of the payment, the payment sender, often does not have any of that USDT that you’re requesting…
and that is exactly where DePay comes in …
Our tools convert cryptocurrencies instantly, on the fly (within the same transaction), and send the requested cryptocurrency to the payment receiver.
All built on top of existing DeFi liquidity protocols, to be able to always offer the most cost-effective payment routing (swapping) to the users.
Being able to swap anything to anything at the point of payment is immensely important, especially in crypto as there are 10s of thousands of different cryptocurrencies…
And I am just talking ERC20 standard, if you think of NFTs and other token standards or blockchains too, there is so much value existing in the space that all could be used as means of payment.
Currently, we are enabling any to anything payments in a 100% decentralized way, routing payments through existing liquidity pool protocols like Uniswap or Pancakeswap…
raising the number of accepted cryptocurrencies in the decentralized web by a thousandfold.
But that’s not all, we are offering an entire product suite all in the context of crypto payments, like donations, subscriptions, sales, swaps, payroll, credit etc.
Andrew: I have to admit that you are so ready to answer this question and introduce how Depay works in an attractive way. Let’s talk about tokenomic
3. What is the role and use cases of the DEPAY token?
Sebastian: The DEPAY token powers and unlocks the overall DePay PRO ecosystem
with utilities across various payment processing products and services.
Think of having a business accepting crypto payments with DePay Payment and now they want to have DePay PRO to also sent or display bills and receipts to their customers for their payments
This would be a DePay PRO feature and the businesses would either stake or pay DEPAY tokens to unlock those features.
But the DEPAY token does not only have a utility part, it also has a governance part.
Whilst the initial demand driver for DEPAY tokens will be utility, the governance aspect, and the features that this can unfold will become more prominent over time.
The initial utility-led growth will transition to community-led growth as the ownership of the DePay protocol is handed over to the community.
This will secure a decentralized future for the protocol and ensure that the community becomes integral to development and sustainability.
We believe that the future of the decentralized web will contain only protocols that are autonomous, censorship resistant, publicly owned, and thus truly decentralized.
DEPAY holders will have ownership of:
• DePay protocol governance
• DePay basic products
• The DEPAY governance treasury
• The protocol fee switch
Andrew: We could see the DePay token has a lot of useful applications above.
4. What is the most unique feature of DEPAY?
Sebastian: Our ANY-to-ANY token conversion when performing payments with DePay is a technological breakthrough and we haven’t seen it elsewhere yet.
It uses decentralized exchanges to convert crypto assets while also performing the payment – all in one transaction.
See an example transaction here: https://etherscan.io/tx/0xb5b12d67864d1a475d88fe0c19e9a8a6786e4a5a61ddb731ac751fe68120bb8d
As of lately the “wallet scan” functionality also comes in pretty handy when performing payments, as our widgets automatically detect the most cost-efficient payment routes even across multiple chains (like ethereum and bsc).
Andrew: So, with these feature like these, we would like to know:
5. How will you do to expand your user’s community?
Sebastian: We have a very heavy integrator community focus. As we do not intend to grow a community of speculators, we focus on gathering people who immediately benefit from using DePay…
They immediately benefit from accepting thousands of different crypto assets as means of payments and safe time just integrating DePay for payments, instead of trying to build something inferior.
In order to grow our integrator user base we constantly run marketing campaigns, but the most uniq one I want to share here is our “Means of Payment” campaign.
Basically we make all projects and their respective communities aware that their token (through our technology) is now a means of payment… which increase their utility
Here are some examples of that campaign:
$RARI can now be used as means of payment in all dApps and websites that use @DePayFi
We are proud to enable @rariblecom to be part of the crypto payment revolution.
Learn how to pay with Rarible https://t.co/ppjXajnOwR
— DePay (@DePayFi) June 24, 2021
$RAMP can now be used as means of payment in all dApps and websites that use @DePayFi
We are proud to enable @RampDefi to be part of the crypto payment revolution.
Learn how to pay with RAMP DEFI https://t.co/ezVC28EEEh
— DePay (@DePayFi) June 23, 2021
Those campaigns have proven themselves to be really effective to grow our own community as people attracted by it can immediately grasp and experience what additional value DePay brings.
Community support and expansion are always one of the hardest parts on the succeed path of every project and we think that you are doing great at this side.
Andrew: Now, we will move to segment 2.
Segment 2: Twitter Questions (5 questions)
Andrew: At this segment, we have collected 5 best questions from our Twitter audience.
Are you ready for it?
Sebastian: Let’s go!
6. In the current epidemic situation, how will DEPAY token holders receive profits ? Currently the game #trend is the direction for everyone to earn income during the pandemic, can DEPAY do that? @BSCXHeroes3
Sebastian: As the DEPAY token is a utility token, there is no direct profit returning from holding DEPAY tokens. If you would provide DEPAY tokens as liquidity on Uniswap V3 though, you would earn fees for providing that liqudity.
Read more about that here: https://depay.fi/blog/earn-uniswap-v3-rewards-2H7Zx9gNh0VgqnlHAyJubs
7. As far as I can tell, DEPAY is a collaborative effort. So, what can the DEPAY community do to assist it in its development? Do you have a governance strategy in place? Is there any way we can help with bug bounties, ambassadors, or contests to encourage further adoption? @ThalapathyPra16
Sebastian: We are slowly migrating to a decentralized governance model over the next 2-3 years. The governance will also take over a treasury dedicated for ecosystem development (grants, referral and early-adopter program)…
We often write out projects on Gitcoin to grow DePay’s features, products and ecosystem, too.
But we believe once we roll-out the early-adopter and referral system next year, the community will become way more active in helping to onboard additional integrators and grow the usage of the DePay protocol.
Andrew: I love the way you do it. Community support will play an essential part in the development of the project.
8. The #DePay logo catches my attention. It looks very similar to the representation of an atom. What exactly does it symbolize and who was in charge of designing it? Is there a story behind it? @tanmoy07322405
Sebastian:
Our DePay Logo actually represents a spinning coin. The idea is to represent the fact that we exchange any coin to any coin while performing a payment in real time, like flipping UNI to DAI while performing a payment.
And our mascot PayPay just got a pair of arms and legs attached to it, but represents the same thing, just cuter.
9. This year #DePay Payroll v1 will be launched. An automatic Payroll powered by blockchain. All business people, whether they are big, medium or small, will be able to use this protocol? The payment panel will be modifiable and will allow adaptations according to the needs? @Moongirl9732
Sebastian: Yes, once we go live with our Payroll product (which will be powered by tokenized payment streams under the hood), people will be able to configure it for their needs.
Andrew: This is the last question of segment 2.
10. Partnerships is one of important factors for every project. Could you name some of DePay’ partners? What are the benefits that you get from them? And is there any partnership that will be established in near future? @tuan_iker
Sebastian: Our latest partner Duelist King performed it’s initial NFT token sale just 10 days ago, they used DePay to allow people to pay with any token while buying their NFT card boxes:
And you thought #web2 payments is a straightforward user experience?
Wait until you see #web3 !! pic.twitter.com/mQOMVXLqhg
— DePay (@DePayFi) September 16, 2021
Other examples of past partnerships are: DAOMaker, Unmarshal, and iMe, but you can checkout all of them here: https://depay.fi/partnerships
Andrew: So, we will move to the last and the hardest segment of our AMA today now 👌
Segment 3: Live Q&A (5 questions)
Andrew:
In this segment, I will open chat for 60 sec, the users could drop their questions here for DePay
Please choose 5 best questions and answer by replying to them.
Hey guys, kindly remember that, you must follow the following channels in order to be chosen as winners:
🔸Join DePay (https://t.me/DePayNews) | BSC Army (https://t.me/bscarmychannel) Telegram
🔸Follow DePay (https://twitter.com/DePayFi) | BSC Army (https://twitter.com/BARMY_Official) Twitter
Are you ready? Sebastian
Sebastian: While preparing your questions make sure you are in our channel: https://t.me/depayfi
I will pick questions accordingly and calm before the storm
Andrew: We have a lot of questions here. So, kindly choose 5 best ones.
Here is your show, Sebastian
11. Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? Can you share it with us?
Sebastian: https://www.youtube.com/channel/UC6rwOM5B7CSF7Bv7JKJg5xA
12. I want to invest in your project. Where do I buy your token? Is it available on any exchange?
Sebastian: https://v2.info.uniswap.org/pair/0xef8cd6cb5c841a4f02986e8a8ab3cc545d1b8b6d
https://www.dextools.io/app/ether/pair-explorer/0xef8cd6cb5c841a4f02986e8a8ab3cc545d1b8b6d
13. Roadmap please. What has been done so far? Many projects promise a lot but who knows when the products are live
Sebastian: We’ve already delivered a lot on the product site, but here is also our long-term roadmap: https://depay.fi/blog/roadmap-to-2024-47T6cVdbEB0SQdG8pdWHsO.
And Don’t forget to join: https://t.me/depayfi
14. Since NFT is popular nowadays, is there a plan for NFT integration?
Sebastian: Yes, indeed, long-term we plan to enable all NFTs to become means of payment too:
See: https://depay.fi/nfts
15. Can you tell me more details on the IDO? The schedule and contribution for each?
Sebastian: We actually have an ongoing IMO (Initial Multichain Offering)… check out the details here:
https://depay.fi/launchpad/bsc
Andrew: Congratulations on successfully completing the hardest part of each AMA session, which is interacting with investors and the questions they want to know.
We hope that with these detailed answers, users could have a better understanding about DePay.
It is the end of our AMA today.
Sebastian: Thanks Andrew, and thanks to the team too
Andrew: Thank you for joining us today to talk about DePay Sebastian @SebastianDePay.
It is our pleasure to have you here today.
We will make a list of winners and have an official announcement as soon as possible.
CONCLUSION
Up to now, Depay has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.
Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.
BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.
