HomeCoinsZoidPay (ZPAY)AMA with Eduard: Becoming the go-to open architecture for building the next-gen...

AMA with Eduard: Becoming the go-to open architecture for building the next-gen of Web 3.0 Financial Services | by Fareem | ZoidPay | Apr, 2022

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AMA with Eduard: Becoming the go-to open architecture for building the next-gen of Web 3.0 Financial Services | by Fareem | ZoidPay | Apr, 2022

Here are the highlights of the AMA Eduard has with the community earlier this week. There’s tons of stuff covered within — for shopping pool owners, ZPAY token holders, the tech, vision, and more.

  • When can the new ZoidPay Mobile App be expected?

The new ZoidPay Mobile App is already in the works. It’s going to be a Fintech powerhouse, considering our acquisition of a Digital Bank. Most probably, the launch will coincide with the acquisition so that we can truly offer some really amazing features to our community.

  • Timeline to staking ZPAY ESDT through the Shopping Pools

– Whitelist for Shopping Pool sale: 19 April
– Shopping Pool sale: 20 April
– Leaving some time for the new SPOs (Shopping Pool Owners) to market their Shopping Pools
– Next Wednesday (27 April) we start the staking on ESDT
– Everything is synced with the migration of the already existing pools (including the staked amounts). We have a really simple system to do that for all of the users — it requires connecting with the Elrond Wallet.

  • When we can expect the lowering of the minimum ZPAY needed to use the TRC 21 — ESDT bridge?

Regarding the bridge threshold — this month we’ll have the minimum amount to the bridge waived, but there will be a fee to be paid.

  • I noticed the option to stake in multiple pools. How will that work?

Yes, you can stake in multiple SPs. You’re not limited only to one. Everything is based on Smart Contracts, so for every transaction that you make you sign it directly from your wallet. We do this because every SP at a later stage will be specialized in a #WEB3 Financial Service — some of them will offer higher yields, others will offer better interest rates, etc. Exactly like a WEB3 Digital Bank.

  • Any new updates for the SPOs?

SPOs will also get a Zoidster NFT drop, that they can use to boost their benefits. They will also receive $WAND tokens that they can use to farm $ZPAY at degen APRs.

And many more features are already done, waiting for rollout — will share more details after the Shopping Pool sale.

  • Any new info on LKMEX? Any restrictions/limits? What about other special liquidity tokens?

Yes, we’ll have an index here that gives the rate. It will be between 0.7–1 with MEX. Waiting for the SP sale, migration of the already existing SPs and staked amounts, start of staking on ESDT, so that we can have a foundation for the TIERS.

  • Any new updates for LP owners? Can we stake the LP tokes in the Metastaking tab? What special incentives are you preparing?

We have some surprises for LP owners here, cannot disclose any info at the moment. All I can say is we ALWAYS have the best interest of our holders in mind — that’s why we do this. Building in the open means that none of it would be possible without you guys. So we act on that!

  • Any new updates on the progress of getting the bank approval? When we can expect to swap Fillit with our own solution?

Working in parallel with the bank approval and the F1 sponsorship (Hint: tomorrow we have the call with the F1 Team to discuss next steps). There’s an army of lawyers and auditors tackling this — we touch base on a weekly basis.

May and June will be $WAND months — updates starting from May. Get ready to be a degen!

AMA with Eduard: Becoming the go-to open architecture for building the next-gen of Web 3.0 Financial Services | by Fareem | ZoidPay | Apr, 2022
  • What are the requirements to become shopping pool owners? What will be the Purchase index for shopping pool owners?

Have at least 100K ZPAY. When the SP WL opens, or when the Sale opens, you claim a SP by staking at least 100K ZPAY for 1 year. The purchase index will be based on the engagement with our products and services and it will boost the staking yields.

  • Is there a way for SPO to collaborate together? Sort of interaction between SP or maybe a chat group to build value to the whole system?

That’s a very good question indeed. We have that in the pipeline — not only on the communication side but also we’re developing a smart contract based trading system for the benefits. Creating a secondary market for benefits can only increase engagement with #WEB3 Financial Services. Adding bricks to the WEB3 foundation.

We’ve got a couple more features on this side. We have a special team dedicated to novel features and novel payment systems.

  • If ZPAY price increases lots more, will the tiers be adjusted, or new tiers added?
AMA with Eduard: Becoming the go-to open architecture for building the next-gen of Web 3.0 Financial Services | by Fareem | ZoidPay | Apr, 2022

We’d have to see about this. Having the best interest of our community in mind implies making adjustments to accommodate every holder. It’s a decision we’ll have to make it TOGETHER.

  • How is progress with international KYC? When will the global/no-kyc cards be available? Any definitive date yet?

Everything is done on our side. We have to wait for compliance now. It’s a crazy process that tech startups are not used to. We’re used to being agile and deploying fast but when it comes to regulations and compliance there are no shortcuts.

  • How can smaller Shopping Pool owners compete with bigger ones? Benefits for stakers seem better with bigger pools.

Shopping Pools will have the ability to be specialized in a #WEB3 Financial Service — That way we increase collaboration between pools — multiple pools working together for the same goal while having the BEST ROI for their Zoidsters is the ideal scenario.

We’re aware that this is an ongoing process and we need to provide the necessary instruments, documentation and resources. Working on that as we speak. So get ready for a huge Knowledge Base — from 0 to Hero SPO.

  • Is there a limit for how much can be loaned in one pool considering the amount stake for the pool is 100k ZPAY?

The loans will be based on the total amount of liquidity in that Pool. The interest will be shared between the SPO and the Zoidsters. Considering ZPAY, the collateral gets you a 70% loan of that amount.

  • How will BNPL work exactly? With AfterPay there is no interest charged. They only make their profits from people making late payments. Additionally, with loans, there is an amount locked like security but I’m not sure with BNPL here.

Yes, but all other BNPL companies, including KLARNA, need to onboard merchants in order to offer this. We’ve found a solution to offer this on all merchants. Exactly like you can pay now with crypto at any merchant.

Basically, the BNPL will be a combination between loans and fixed payments.

There are some template APIs that we’ll make open for everyone to build upon:

1. Loans
3. Novel Payments for Illiquid Assets
4. ILF — Instant Liquidity Farming

& more in the loop.

  • After one year what will happen to the pool if we unstake 100k ZPAY? Do we have to worry about selling the pool in order to get back 100k?

After 1 year if you still want the SP, you need to restake the amount. If not, the pool will be transferred to us and your $ZPAY returned. The SP will then be auctioned to someone else and you will not be able to get a SP again on that address.

  • Is there any chance to have an LKMEX/ZPAY LP in Maiar Exchange?

We’ve got a lot of things pending and for some, I cannot disclose any info at the moment.

  • Can Zoidsters NFTs be staked to farm $WAND?

Yes, and also the reverse. Stake $WAND to farm NFTs.

Finally, here’s what Eduard signed off with,

The vision is to be the go-to open architecture for building the next generation of #Web3 Financial Services on top of the Internet Scale Blockchain — Elrond Network.

Thanks for your amazing support! You guys are THE BEST!

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