AMA RECAP : CRYPTOSCAPE x WELD
Venue : Crypto Scape
Date :25 August 2021
Time : 02:00 PM UTC.
He shared detailed information and his opinions about the Project WELD.
🔴 SEGMENT 1 INTRODUCTION.
1) Please introduce yourself and your team to our community and tell your crypto story?
Hi, I'm Ada, Weld's project manager. I have more than 2 years of crypto experience, but you know, there’s never enough knowledge in this field😄
It all started from pure interest. I was trying to find a new vector for my life and the crypto world appeared to be THE place for me 🏠
Now I’m working with Weld to help them grow their community and raise awareness of their project, ‘cause I believe that this project have a great long-term future
2) What’s WELD all about, What makes the WELD Project stand out more than other projects in the same direction at the moment
So, Weld is a project that aims to bridge Crypto World with Traditional Finances✨
Using a card or an application on your smartphone, you can pay with fiat currencies, paying with it in retail networks or online stores in exchange for your balance on the crypto exchange, transferring API keys to the application💡
Initially, when setting up the card, you link the card balance with your exchange account, without any transfers and replenishment, and then you can use the card as usual⚖️
About Weld’s features
All cryptowallet holders in CIS countries are united by one unsolved problem – they do not have an easy way to use cryptocurrency to pay quickly for conventional goods or services💸
Considering this, our main feature is ability to solve this CIS problem.
Besides, we have some more advantages of Weld application:
- Seamless integration with ApplePay/GooglePay
- Tax-free crypto transactions on the go (no vat and other taxes on convertion)
- Transparent pricing, no hidden fees. You pay for what you use.
- 360 view on personal finance – one application to manage everything (fiat cards / accounts and cryptocurrency wallets).
- Secure and transparent financial flow
- Convenience – the ability to add any wallet from a third-party service or crypto exchange
- Traditional payment method – payment by Visa\MC (GooglePay / ApplePay).
- Security – Fully PCI DSS compliant solution
3) Can you tell us about WELD current partners, plans for partnerships and what everybody stands to gain from these partnerships?
Yes, sure we do! Not so long ago we announced our partnership with Magnus Capital. They've invested and will help Weld Money grow, promote through its own network of KOLs, and patronize in all matters related to IDO💥
And talking about IDO, we planned one on August 2021, so you better stay tuned. There are also a lot of planned wallets integrations, but you already can use weld with BITFINEX wallet, HUOBI, coinbase, Binance, EXMO and more☄️
Also, BIS Bank becomes another Weld partner bank and will support our card service 📢
4) could you share some recent product development in terms of roadmap/milestones achieved
What we already done:
- Roadmap and financial model created
- A team with the necessary competencies was assembled
- The backend of the payment system was written and certified
- All major EU technical partnerships have been collected
- A marketing plan has been drawn up
- The legal model of work has been worked out
- MVP of the mobile app was created
Our main plans on 2021 are:
- Mob application development
- Registration of a company in the EU
- Hiring staff according to licensing requirements
- Obtaining licenses (crypto, lender)
- Backend integration with technical partners
- Integration with cryptocurrency exchanges
- Co-brand integration with bank in Ukraine
- Weld payment card launch
5) Due to the lack of knowledge in crypto, local merchants don’t consider it as a payment option. So, what plans do WELD have to break this obstacles and be able to offer your services on more places of the world?
We planned the Weld project as a worldwide crypto bank&card ✅
One of our main goals is to become multilingual and worldwide known🌏
We started from CIS sector only because it’s impossible to use any world current crypto cards here. We want our product to be accessible for everyone 🔥
So, if it possible for you to pay via Apple Pay or Google Pay, you’ll be able to use Weld card🌚 Also, if you can pay somewhere with fiat bank card it means you can pay there with weld card🌝.
🟡 SEGMENT2 TWITTER QUESTIONS.
1) It says, Get a crypto card and pay seamlessly for daily expenses from your crypto wallet with zero blockchain transaction fee. So can you guide us and explain how we can start here? What’s the process on how we can get or request a crypto card? @Wormz29
Minimum commissions due to the issuance and service of the card locally in the client’s country of residence.
You can find detailed infoabout fees in our Pitch https://weld.money/pitch/
Card going to be released this autumm hopefully, so stay tuned! You’ll be able to use our wallet via Weld app also, if you don’t like classic cards)
2) WELD’s sole competitors (cryptocom and Swipe) have distinct extra incentives such as membership rebates and cashback on purchases. What unique benefits is WELD planning to offer in order to increase its market share from where it is now? @LinhHong211
Similar projects offer their clients to top-up their cards, thus to freeze funds on it.
A top-up is often an expensive operation up to 7-8% in fees (i.e. $30 fee for 400usd transaction in May 2021)
Crypto cards are unavailable in CIS region (the largest crypto community in the world)
Availability for CIS Clients
Supporting most popular exchanges
No need to switch to a solution wallet
No need to deposit crypto funds in advance Payment card
Visa/MC Premium Services
3) Can you explain how WELD ensures that all transactions are carried out securely, quickly and transparently? Users can find cafes, markets, shops, etc. Can you tell us about the technology you have for seamless money transfer and payment in businesses? @Captain_Price9
The core backend system of weld infrastructure integrates and controls inrofmation flows between all members and partners like Bank Processing Center, CEX, Payment systems 🔥
We have high requirements from Visa and Banks to provide all information exchange no more than in 4 seconds
But we as an Online Processing Core have internal goal in 1 second✨
Our processing Partner is PCI DSS compliant International Payment System PayRun who affords all necessary Licenses for money transfer and clearing between financial partners 🚀
4) As an investor, I know that many of us are afraid of using these types of services given the obstacles presented with regulations, taxation and financial accounting. So how can Weld dispel these fears about these kinds of tools that could prove to be very useful? @Jasonnmoree
To begin, let me tell you how it works )
Client initiates a Payment ➡️ weld blocks crypto balance from a clients wallet ➡️ weld allows bank to process the transaction ➡️ Bank processes the transaction from overdraft balance ➡️ Client takes the purchase ➡️ weld repays the overdraft to bank
We’re going to cooperate with local fiat banks and merchants to provide our users with ability to pay their daily spends anywhere with zero problems
5) Weld has a cryptographic card, and from what I could see from the image on their website, it is endorsed by VISA. But, is this really so? Does Weld have an agreement with VISA to develop these cards? What plans do you have in mind to globalize commerce and payments through WELD? @Maccao
It’s important to understand that our card is not cryptographic
The Weld card will be fiat
We have an agreement with the bank which will serve us in the payment system.
As I said, we will connect banks of other countries
We will also connect third-party or smth like to card services.
🟢 SEGMENT 3 TELEGRAM LIVE.
What problem does Weld Money solve?
So, Weld is going to make crypto available for paying anywhere as simple as you use classic card. We have no conpetitors in CIS market.
-Where can I see the information about your team members? How can I be sure that they are enough qualified to drive this project for long-term?
you can find all info about team here https://weld.money/pitch/.
What is tokenomics $WELD? What are the advantages of holding $WELD?
What are the key features of the Weld token?
Stake tokens for increase daily and monthly limits
Pay commission in Weld tokens to reduce transaction costs.
Stake Weld Tokens to get Weld Reward.
Stake tokens to get Premium Card
CashBack on every purchase paid on Weld tokens.
One of the most important functions of the Weld economy token is Buyback. We plan to spend up to 20% of Weld's monthly income on buying back tokens from the market. This will support the infrastructure of the application, as well as positively affect the price of the token. The buyback will be carried out regularly throughout the month. The purchased Veld token will not burn, but go to the project development fund, for the project to enter new markets in the future.
Buyback will be limited per time period, this period is 2 year from listing date on first DEX. After 730 days after listing, the buyback program will finish, and the market will become self regulated by users and investors.
Total Supply tokens - 250’000’000
Total Rounds supply - 80’500’000
Foundation - 99’500’000
Staking pool -30’000’000
Team&KOL - 40’000’000
% public sale supply - 32,20%
% Initial circulating supply - 33,76%.
For now in which regions can WELD cryptographic cards be used? Can Asian regions such as Indonesia, Philippines, Vietnam, etc. be able to use this card? How easy is this card to use for a beginner in the crypto space?
We’re starting from CIS region, Ukraine is going to be the first. But yes, eventually Weld is going to be worldwide.
WELD token pre sale will be up in a week. To be whitelisted, what processes shall we have to undergo to qualify for this whitelist spot? Does it require KYC? and can you also give us a few information about this upcoming pre sale?
The Weld token price during the pre-sale will be $0.06. During the IDO, it will rise to $0.075. It will allow our early investors to get 25% profit already during the first and second investment rounds.
Pre-sale will be on our website https://weld.money/
You can still join the whitelest, and yes, it require KYC.
Thank you for an AMA! Cryptoscape community, I invite you to take part in the Weld’s MEME Contest, you can find all info here https://t.me/weldmoney/40 ! Join our community and win! Also, here’re our links for you to not miss anything important
Thank you from Crypto Scape