BNBPay x Im Community AMA Recap
đ TELEGRAM AMA: Im Community & BNBPay đ
â° AMA Timing : 26 August 2021 l 11:00 AM UTC l 18:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool 100 USDT
Bà Tân | : Welcome @bpaymodfather, @bnbpaygal from BNBPay.
Bà Tân | : Welcome everyone. Today Im Community will host AMA with BNBPay.
Bà Tân | : Today our guest is: @bpaymodfather, @bnbpaygal from BNBPay.
Tessa BNBPay Admin : lets do it đweâre ready to go!!
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : Ready when you guys are :)
Bà Tân | : Please introduce yourself a bit: @bpaymodfather, @bnbpaygal.
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : Sure
Tessa BNBPay Admin : hi, iâm tessa from BNBPay đ
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : Iâm Francis from BNBPay and Iâm one of the founders/devs on the team.
Tessa BNBPay Admin : Iâm supporting Francis, James & Teason with marketing & merchant onboarding & investors relation
Bà Tân | : Thanks for the intro from the BNBPay team.
BĂ Tân | : Todayâs AMA will have 3 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team BNBPay
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1430494900177440774).
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.
Bà Tân | : Requirements:
đŁIm Community (https://t.me/imcommunityitw)
đŁBNBPay Official Group (https://t.me/BNBPay)
đŁBNBPay Twitter (https://twitter.com/BnbPay)
đMore information about BNBPay :
đŁReddit (https://www.reddit.com/r/bnbpay/?ltclid=df93c2a4-7410-4779-806b-5d1b80155100)
đŁWebsite (https://www.bnbpay.io/?ltclid=8aaeb098-3bbf-43dd-9853-75401c31ea9a)
Bà Tân | : Start session 1 AMA @bpaymodfather, @bnbpaygal
Bà Tân | : Question1. Can you briefly describe what is BNBPay ? We would like to know more about it and how it works.
Tessa BNBPay Admin : thank you and i will take this question đ
BNBPay aims to become the most widely accepted cryptocurrency for commerce. We aim to replace legacy payment systems such as PayPal, Visa, Amex , Mastercard etc.. Traditional payment systems have been gated by institutions â these big businesses take a large chunk of fees for processing payments. BNBPay aims to solve for this problem to create a fairer, cheaper and better system for all concerned â merchants & shoppers etc.
BNBPayâs ambition is to become the no.1 payment facility for all merchants: online (e.g. e-commerce) and offline (in cafes, restaurants and shops, etc) WORLDWIDE.
We can be more efficient and faster than all legacy payment systems due to our state of the art coding and blockchain technology , that is readily available to us / built on top of the Binance Smart Chain (BSC).
END
Bà Tân | : Question2. What services does the BNBPay team provide to users? What benefits does it bring to the BNBPay project and its users?
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : â Giving merchants cheaper and a faster/better alternative to traditional payment processors like PayPal or visa.
- Giving users reason to stake, spend and earn rewards in BSC tokens.
- We are building a crypto mobile application â we believe this will revolutionise crypto payments for commerce. There will be a revealing of the UX tonight for our mobile application.
- Ecommerce integration. You can see our prototype demo here: https://twitter.com/BnbPay/status/1424319073429622787?s=20
Our WooCommerce and Shopify e-commerce plugin will be available soon.
- Point of Sales (POS) terminal for brick n mortar. This means shops, cafes, restaurants, merchants, etc., will be able to collect funds instantly instead of having to wait for the end of day settlement.
- Our payment ecosystem will allow users to stake and earn, and if you spend your coins you will also earn rewards from BNBPay.
We aim to incorporate all BSC tokens, so you can stake your $MINIDOGE, pay with $SAFEMOON and earn rewards with $BPAY!
/end
Bà Tân | : Question3. What role does the $BPAY token play in your ecosystem? What are the benefits of holding it?
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : The $BPAY token can be staked or used to pay for goods and services to earn rewards.
The benefit of holding it is that you gain reflections from our trading tokenomics.
/end
Bà Tân | : Question4. About security How safe is BNBPay for users?
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : We are audited by TechRate and our LP is locked. Since we are built on the Binance Smart Chain (BSC), everything is transparent and you can view all the transactions on bscscan.
Our future wallet will be similar to Metamask and TrustWallet and thus, security is a top priority for us since we are dealing with payments in cryptocurrency.
/end
Bà Tân | : Question5. Can you please tell us the current BNBPay road map? How far has BNBPay been developed at this time? and what will you realize in the future?
Tessa BNBPay Admin : ok thanks for your question, please bear with me as i craft an answer
Currently, our roadmap goal is to build an ecosystem that has a mobile wallet, a pos terminal, an e-commerce plugin and a platform for our users.
The development for our bnbpay Shopify & WooCommercd plug-ins are also underway â which are amongst our top priorities
Development for bnbpay mobile wallet app in-progress â demo is actually available tonight!
We are seeking CoinMarketCap CMC listing â iâd like to thank our community for being patient đ
Merchant website is being developed and there will be a giant focus on onboarding merchants aggressively â we are in talks with a few sizeable merchants who are keen to trial BNBPay at their stores
Point of Sales (POS system) for brick and mortar is currently under development
Accepting all BSC tokens into our ecosystem is what we plan to realise for the future
/end
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2
Bà Tân | : Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1430494900177440774).
Bà Tân | : Question1. Can you list the outstanding features of BNBPay that you think are the strengths that will help BNBPay succeed? In the future, will the BNBPay token be developed with more utilities?
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : This is a two-part answer. The first part looks at the outstanding features for merchants, and the second part looks at them for users.
For merchants, current legacy payment systems (Paypal, Square, Shopify, etc.) cannot process and settle payments as fast as BNBPay can. Processing and settling payments generally take 1â3 business days with the current legacy payment systems available on the market. BNBPay can do all the above in under 10 seconds. Not only that, but we can also offer lower processing fees due to BNBPay operating on the Binance Smart Chain (BSC). Processing fees generally range from 1â4%, and BNBPay can certainly offer less than that.
For users, we offer the ability to pay, stake and earn rewards with cryptocurrency. What I mean is, when you use our ecosystem to pay or even stake, you earn rewards from BNBPay. We can be very creative with our rewards, which we will release later once our ecosystem is fully tested and built. Also, there are not many utility tokens as of late with all the hype around meme tokens. A lot of them offer the fairytale dream of having some utility. Still, the issue is that they donât have the personnel to code or even deliver the utility they promise. Here at BNBPay, we have a team with 10+ years of experience in delivering payment processing systems. We understand what it takes to build the ecosystem described in our whitepaper, and we know how to deliver it.
Currently, there is already a lot of utility for our project. When we hit a larger market cap, we can add more additional utilities if we see them as an excellent addition to our project.
/end
Bà Tân | : Question2. What are BNBPay plans for global adoption and expansion? Are you focusing only on the market or focusing on developing the concept of the project?
Tessa BNBPay Admin : Currently, if you join the BNBPay telegram channel (please join :), we need more Vietnamese people in our communityđ), you can see we have at least 12 different language groups.
We have constantly been engaging with various YouTubers from other parts of the world to promote us and weâve managed to create a strong & active community.
Of course, the world is a very vast and giant place, and not everybody speaks English. Due to this, we want to diversify ourselves and become a global payment processing system for everyone to use.
Countries where crypto payments are becoming more prominent (such as India, Russia, Colombia, Australia, Ukraine, Nigeria, Vietnam, Philippines, Indonesia etc.) are definitely the ones we are targeting/ focusing on.
With our in-depth research, we are gaining more understanding of the market and will have an aggressive marketing approach to onboard merchants from these countries.
/end
Bà Tân | : Question3. Token burn is beneficial for any project, in being able to control the number of token circulation and to provide greater incentives to investors. Does BNBPay have a plan about token burn?
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : Yes, the BNBPay team has set aside 1,500,000,000 $BPAY tokens to be burned (This is 15% of the total $BPAY amount created). We have already burned 7% of the 15%. This burn supply is used whenever we need to help control the fluctuation in price and as a way to help our investors believe in our project. Our plan is to use it whenever we see fit to help the project give the boost it needs.
On top of all this, another burn mechanic in our trading tokenomics is 2% via the auto buyback feature. This will also help control the price fluctuations and help our long term investors.
/end
Bà Tân | : Question4. A staking programme is very important for any project. What staking options are available for BNBPay Token? Are there any incentives for staking? What are the various ways to earn BNBPay tokens and are there any limits to the amount of $BPAY I can earn?
Tessa BNBPay Admin : Since we have marketed the ability to stake via our platform, we will definitely offer it in the future.
The idea behind it is that once you pay or stake with $BPAY, you earn rewards from us. This will incentivise our users to use $BPAY for various goods and services as well as to stake with us.
We will release more information once we are closer to delivering staking on the bnbpay platform.
Currently, if you are a holder of $BPAY, donât worry đ you will be earning reflections from our trading tokenomics.
We will be releasing a website dashboard that will show you how many $BPAY tokens you have earned through the reflections from our trading tokenomics.
/end
BĂ Tân | : Question5. How do you keep your platform safe for Investors, and is your platform protected from hackers? And how do you manage if thereâs an attack on your platform, including the personal data of your platformâs users? Is your platform ready for this?
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : As I have mentioned before, we have a team that has 10+ years at delivering a payment processing system. When dealing with payments, security is our number one concern and priority.
This means that security is our forte, as well as delivering a working payment processing system. When we build our platform for our users, your details will be safe. We will also not release the platform until it is ready and has gone through rigorous beta testing. Once it is ready, our platform will be able to handle all security issues.
/end
Bà Tân | : End of session 2
BĂ Tân | : Weâll move on to session 3
Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.
Bà Tân | : Requirements:
đŁIm Community (https://t.me/imcommunityitw)
đŁBNBPay Official Group (https://t.me/BNBPay)
đŁBNBPay Twitter (https://twitter.com/BnbPay)
đMore information about BNBPay :
đŁReddit (https://www.reddit.com/r/bnbpay/?ltclid=df93c2a4-7410-4779-806b-5d1b80155100)
đŁWebsite (https://www.bnbpay.io/?ltclid=8aaeb098-3bbf-43dd-9853-75401c31ea9a)
BĂ Tân | : Donât forget to join the group https://t.me/BNBPay
đJĹhn Lđ : letâs go
Bà Tân | : Thanks for the questions from the community.
Bà Tân | : @bpaymodfather, @bnbpaygal Pick the 5 best questions and answer it for session 3.
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : Sure
Q1. Adoption is a challenge for any blockchain project, especially in this sensitive period of the entire market when many blockchain projects die because only a few are using their platform. What is your teamâs strategy and vision on this issue?
Tessa BNBPay Admin : i pick this one đ
Adoption will be our main focus â it is our mission to onboard real merchants and get BNBPAy to be used on day-to-day and one day, BNBPay will be a global brand.
How we will accomplish this? We have a strategy in place to go after merchants in top countries that we are focusing on.
To outline the strategy on a high level, we will be following a true & tested strategy from Afterpay who has managed to be successful in this space.
This includes: proactively reaching out to merchants for having BNBPay on their ecommerce storees â we can easily find those with shopify & woocommerce stores and insta stores
We will be growing via affiliate marketing partnerships
For offline brick& mortar merchants, we will be focusing on niches such as cafes initially â we will be targeting small to medium size merchants with millenial customer base
Given this focus, this is why our teamâs current focus is to actually deliver a working product.
Hope this answers your question đ
/end
Q2. What social network does your community focus on, how do they know about your project? I want to join the community, where can I find it?
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : We actually focus on all social networks.
We have done various forms of promotions on Instagram, YouTube, Facebook, Twitter, Telegram and TikTok etc.
You can actually see all our social media via our linktree here â https://linktr.ee/bnbpay
Q3. Without an working products any idea has zero value. We see many projects are on paper only and no product. So, kindly ensure us that your project is just not an idea and itâs already has an working products or practical usecases?
Tessa BNBPay Admin : we are early stages đ however, if you can see, the progress we have been making is significant and weâre delivering, rather than making empty promises. We are transparent of our progress on our website and believe in treating our community with utmost respect. Please make sure you FOLLOW our twitter and youtube accounts so youâre kept abreast of the latest development. See an example here: https://twitter.com/bnbpay/status/1424319073429622787?s=21
And weâve just completed our mobile app prototype here: https://twitter.com/bnbpay/status/1430837875227074560?s=21 â SUPER EXCITING STUFF!!
Q4. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
Tessa BNBPay Admin : The team is doxxed. Our reputation is on the line since you can find our information on our LinkedIn.
The project is also audited so the idea of rugpulling is not plausible.
If the team wanted to rugpull, we would not be doxxed and we would also certainly not add our LinkedIn accounts.
We would also not be providing regular updates and delivering on our promises. This project is real and real money is being spent on delivering it.
As promised, we have shown a demo on our twitter.
A mobile application UX is also being demoed tonight.
These are all real products guys & gals
Anytime you guys have questions, please feel free to engage with us via our telegram channel
we are not running away and looking to make quick buck here
weâre here to change the world đ 1 merchant at a time !
/end
Q5. Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users invest to your platform in the long-term?
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : This is unfortunately true.
People nowadays only see short term benefits and usually are blind to see real value in projects. Due to this, they only want to pump and dump.
However, the difference in our project is that we are not like memecoins or pump and dumps. We are delivering an actual product.
We donât like giving empty promises. We like working hard and delivering what we say we will. Actions talk more than words and this is very true in the real world.
With our development, merchants and users will see the benefits and will invest in it when progress is made.
Thatâs how we convince users to invest. By showing an actual product and merchants who are onboard with us.
/end
Bà Tân | : Thanks for the useful information from @bpaymodfather, @bnbpaygal
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @BNBPay for answers.
Bà Tân | : IM Community, if you would like to know more about BNBPay ! here are some useful links for you:
Official Website: https://www.bnbpay.io
Twitter: https://twitter.com/bnbpay
Telegram: https://t.me/bnbpay
Instagram: https://www.instagram.com/bnbpay/
Medium: https://bnbpay.medium.com
Facebook : htthttps://www.facebook.com/BNBPAY1/
The BPAY ModFather [I WILL NEVER DM YOU FIRST] : Thanks for having us
Bà Tân | : Allright, I declare the Im Community AMA with BNBPay has ended.
Thanks to @bpaymodfather, @bnbpaygal | BNBPay joined us and provided us with Tokenplay information, we hope that this knowledge makes us understand more about https://www.bnbpay.io (https://www.bnbpay.io/)
To the members, thank you for following this event to the end. winners will be announced soon.
BĂ Tân | : Todayâs AMA winners please PM @quocnguyen1234 to provide reward information. Thanks everyone .
