Transcript of AMA with CEO of PointPay — Vladimir Kardapoltsev

AMA Transcript

  • First of all, we’ve improved the loading of documents while going through KYC. We’ve explored the possibility of automating the data collection during page loading to increase the loading speed for all products. We need to adhere to industry standards.
  • We’ve also developed a script that automatically measures the screen and speed of the API. The API is the small connector we use to get the data from one point to another. The speed of the API is of utmost importance to us. So we’ve developed a new way to measure the speeds, and if they’re underperforming, we can fix them.
  • We’ve also optimized the loading speed of the pointpay.io website by reducing the icons’ size and removing certain duplicate elements.
  • And we’ve released the new Bug report feature, making it easier for users to contact us. You can find it in the footer of our website. So if you have any problems that you want to report to us, you can simply go to the footer of our website, press “Report a bug,” and fill in a small questionnaire, which will go directly to our developers. One of them will look into it and investigate whether this is something wrong with our website or something that was supposed to happen, etc.
  • As for our website development, we’re ready to release the newly redesigned personal profile pages in terms of KYC and Customer Support settings.
  • We’ve completed the development of our dashboard and profile — now it’s very intuitive.
  • We’ve also completed the development of the Classic Exchange in our apps. We uploaded the old version, and now we’ve deployed the new version. So you can easily trade in our mobile apps.
  • We’ve also added the new Notification Center, terms and conditions for KYC, and new windows for KYC.
  • We’ve introduced the PointPay Blog. Here you’ll find all the latest news, industry snapshots, and our thoughts. This was available on our website before, but now it’s also available on our mobile apps. You can now read it in native design in our mobile apps.
  • We’ve implemented the PointPay blog. This is where you see all of our latest news and some industry snapshots or thoughts about the industry. It was available before our website, but now it’s also available on our mobile apps. So you can now go and check it out in the native design on our mobile apps.
  • We’ve also integrated NFT Sky, the partnership we announced last month, into our platform. So you can now move from one app to another.
  • We’ve also added the crypto loans section. We’ve revamped how crypto loans work on our website, so you can now take a crypto loan on your phone.
  • We’ve also added a few new assets to our platform.
  • We’ve also implemented the staking mechanism in our apps. Now you can also stake your PXP tokens on our mobile app.
  • We’ve integrated debit cards into our mobile apps.
  • And we’ve also improved the user profile.
  • Has made preparations to disable the accruals on Savings accounts for US citizens in connection with SEC regulations. The Securities and Exchange Commission prohibits us from giving our U.S. customers interest. We had to make some internal preparations to make that fully possible. We’ve emailed all our users about it, and the shutdown is scheduled for today.
  • We’ve also redesigned the bank to version 3.0. We’ve created the information dashboards in Grafana. This way, we monitor everything that happens in our services to improve our business.
  • We’ve accelerated the work by updating the versions and the language frameworks. The exchange is one of the heaviest parts of our ecosystem because the terminal has so many things that have to load so quickly. So it was loading a little bit slowly. Now it just loads, I think, a second faster.
  • We’ve added about 50 new cryptocurrencies, and by the end of the summer, we want to have about 100 cryptocurrency pairs. Please, someone, post the list of cryptocurrencies that we’ve added.
  • We’ve added real-time updates to all the charts on the exchange and improved the work of the market orders. They were available before, but now they work even better, and the order book has also been optimized.
  • Now we’re working on adding new order types to our exchange, such as fill or kill orders and other advanced orders.
  • On the backend, we’re also making some margin and futures trading improvements.
  • We’ve improved crypto operations on Mercuryo, Transak and Moon Pay- the most popular bits of our platform. We made the operations more seamless, and now they’re loading even faster.
  • We’ve also added additional tools for operations and automatic verification of purchase orders and deposit transactions from the payment systems.
  • We’ve also done technical reviews for all requests to the customer support team for certain stock transactions. This has completely cleared our backlog.
  • We also created a new design and started developing seamless payments that allow you to buy cryptocurrencies with one click to make shopping easier for new customers.
  • We also introduced new tools for analytics and improving the user experience.
  • We switched to the Unified Balance System last month but also had to make some new improvements. Now we have fully moved to the Unified Balance System and stabilized the work on it.
  • We have released cryptoloans 2.0, conducted a competitive analysis, and prepared the requirements for the new version of loans. The old cryptoloans worked a bit slower, and the prices were neither friendly. The current daily crypto lending rate is only 0.06%. PointPay token holders will receive lower crypto-loan interest rates on the progressive scale, and the discount percentage on the total amount of PXP tokens will be calculated accordingly. And the PXP tokens could be purchased through other websites, of course, and you can transfer them to our website, and you will get this discount after that. Now we have completely rewritten the whole mechanism, and especially because we have moved to the Unified Balance System, we had to change many things internally to facilitate this further.
  • We have a huge database to upload information to and from; the faster it loads, the better. We have optimized that database so that everything you get loads much faster, and we are also moving towards industry standards.
  • We released an Alpha version with the basic features similar to UpWork. We announced that we released it in the last few months, but now all the features of the app work, and we’re going to improve it even more.
  • We’ve split the work section into one for the employer and one for the employee.
  • We also added the bio sections for the employer and the employee.
  • We’ve adjusted the logic of the trust agreement to HR Talent’s needs.
  • And we’ve also implemented the tax system.
  • Furthermore, now you can search for jobs or companies by entering the tags.
  • Let me remind you that we have obtained the crypto license in Lithuania, under which we are currently operating. We are an authorized cryptocurrency exchange operator and cryptocurrency wallet operator in Lithuania, which allows us to conduct our operations in the European Union.
  • As for the US, we have the MSB registration and the money transmitter license in the US in Wyoming. We are also trying to get the Money Transmitter License and the BitLicense in New York. We are still missing the surety bond we are working on right now.
  • We are also trying to obtain a VASP license (Virtual Asset Service Provider) in the Cayman Islands. So we have all the documents prepared and are waiting for the mandatory AML (Anti-Money Laundering) Policy Officers.
  • Finally, we are also trying to obtain a license in Kazakhstan. We have pre-approval there, and we are working on a full-scale license with AFSA, the Astana Financial Services Authority, the application process is underway, and the technical team is working on all the legal and technical aspects that we need to do to get that license.
  • We conducted the Regular Security Review of our key U.S. accounts and created a set of tasks to align our infrastructure with Amazon Web Services’ best practices.
  • We migrated the ELK service to AWS Openreach, making the Elasticsearch clusters highly available and more secure.
  • We developed the GitLab CI seed pipeline skeletons for Go Golang and the PHP microservices to enable fast, smooth, and well-architected onboarding for the microservices and perform extensive work and cost optimization for our AWS infrastructure.
  • We improved the CI/CD pipelines and servers for multiple Exchange-related microservices, making them more flexible and faster for our developers.
  • We created the PCI DSS infrastructure and the six framework procedures that allow us to deploy the microservices in a fully PCI DSS -compliant environment. This means that we will be able to get the PCI DSS accreditation to be able to issue cards worldwide. This is one of the requirements we have to meet to get the licenses as well.
  • Finally, we have developed a new architecture for our admin service that fully corresponds to the microservices pattern and provides a high level of security. So our platform is completely impenetrable. We have one of the best DevOps departments ever.
  • In the first quarter of last year, from January to March, we added more local languages to our platform and made it more user-friendly.
  • We won two Forex Awards 2021 nominations for the best trading platform and the most mobile trading app.
  • We released the MVP version of our Launchboard project. Now it’s fully completed, but it was still the MVP version at that time.
  • We released the Quick Exchange for our mobile apps.
  • We implemented the new kind of brains for exchange on Golang, the new Matcher, and the Gateway.
  • We added a new payment provider — Moon Pay.
  • We completed three token burns for a total of 6.3 million PXP tokens.
  • We’ve implemented the Unified Balance System. We used to have a whole set of balances, and now we’ve only two in our system — a savings account and a Regular account. That took us a lot of time, and that’s related to rewriting the gateway and the matcher for our exchange. So we reworked the brain, and then we rekindled the platform. Now it’s fully scalable and perfect for accommodating as many customers as possible.
  • We also implemented the KYC process for all of our customers. I know it was open since the fourth quarter of last year, but now it’s available to everyone as long as you have $100 in your account.
  • We also listed our PXP token on the Solidbit exchange.
  • We announced our partnership with NFTsky.
  • We also released a new website and mobile app design to attract new customers.
  • We released the new PointPay Escrow and HR Talent platforms.
  • We added 45 new cryptocurrencies to our ecosystem.
  • We’ve completed all withdrawal requests.
  • We implemented the new crypto loan mechanism, which is also connected to the Unified Balances, the new Matcher, and the Gateway.
  • We have an exclusive partnership with the CoinsRating website — an equivalent to the CoinMarketCap.
  • We also completed three token burns this quarter, totaling 7.2 million PXP tokens. We’ve removed 13.5 million PXP tokens in the last six months from circulation. Congratulations to all of you!
  • We are committed to expanding our network of payment providers so that users can easily buy and sell cryptocurrencies using their preferred methods. In addition, we are working on creating a seamless payment flow, so there will be no interruptions in operations. We are planning to release it at the end of Q3.
  • We want to have new listings on our Launchboard, and we want to list our PointPay token as well.
  • We want to establish new partnerships with NFT and DeFi platforms and other exchanges.
  • We plan to add 100 new cryptocurrency pairs by the end of the summer.
  • We are planning to release our P2P platform. We have already completed most of the development, and it should hopefully be released by the end of next month.
  • We also plan to launch a B2B solution, so businesses will be able to use crypto when they make fiat-to-crypto payments.
  • And, of course, we plan to obtain International Banking and Foreign Exchange licenses.
  • In addition, we remain committed to the Tier 1 listings.
  • It enables users to cut the make or take fees dynamically based on the number of tokens they have.
  • An expanded range of banking services is well provided on the most favorable terms. It is still being developed at the moment. Don’t forget, our platform is still in the development stage, so some of those things are not available yet, but they should be available by the end of the year.
  • We’ve expanded the range of the banking services that we provide. We’ve expanded the range of operations for both fiat and cryptocurrencies.
  • We’ve added 45 new cryptocurrency pairs.
  • We do a PXP burning program.
  • PXP token holders have a right to earn high yields on a progressive scale.
  • Furthermore, PXP token holders are entitled to send instant payments within the PointPay ecosystem free of charge.
  • With reduced fees, you get video tutorials.
  • And we’re also introducing the gamification and the badges system soon as well.
  • Currently, we are also developing a new referral program, which will get you higher rewards if you hold PXP tokens.
  • With regard to our new partnerships and listings, you will get certain perks and incentives as well.
  • I can tell you that we are now developing a special program with the NFTsky, so the PXP holders will get certain perks within their platform as well. And we’re trying to make a new NFT collection there as well. So that will increase the utility of our token as well.
  • Make more burns so that a PXP would be worth more than $1, or at least the ICO price;
  • Promote PointPay to all of the markets worldwide;
  • Integrate virtual crypto debit cards;
  • Enter into new NFT partnerships;
  • Launch new projects on our Launchboard platform;
  • Get listed on the Tier 1 exchange;
  • Offer the best trading experience and integrate margin, futures, and options trading.
  • Integrate an API for our exchange, cryptoloans, debit cards, crypto-insurance, and crypto wallets.

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Cryptocurrency Ecosystem: pointpay.io Crypto Bank, Exchange, Wallet, Payment System. Buy Bitcoin → https://payments.pointpay.io/ Earn up to 30% yearly with PXP.