AMA Recap TokenMerch & KuPay

TokenMerch hosted an AMA (Ask Me Anything) session with KuPay’s Co-founder: KPAgent. If you missed the AMA, you may check the full transcript here. At the end of the blog we answered all the questions asked during the AMA.

Venue: TokenMerch chat

Date: April 30 2022, 1PM UTC

Host: Akshaj — Community Manager of TokenMerch

Guest: KPAgent — Co-founder of KuPay

Akshaj: Hello everyone, thanks for tuning in for our first community AMA. We are very delighted and happy that you guys joined in to grab more knowledge about KuPay. So to begin with it let me introduce myself. am Akshaj Agarwal, community manager A.K.A Game King of TokenMerch — haha. I cordially invite Mr KP and thank him for joining us today for the AMA.

Welcome KP! Can you please introduce yourself to our beloved community?

KPAgent: Hi everybody, Thanks for the introduction Akshaj and thank you community for being here. I am KP, I am based in the Netherlands. My co-founders call me the Team Lead because I like to oversee projects and make strategic decisions. I have been an advisor for a few startups and 5 years ago I found real interest in the crypto space. With now KuPay being my most recent project. In this I am not alone, I am also representing my team members who have done an enormous effort in getting KuPay where it is now.

Akshaj: Thanks a lot for such a beautiful introduction, I see you definitely have a lot of experience especially while working as a team lead in various startups.

Can you briefly share what KuPay is about? What is special about it?

KPAgent: Sure! Kupay provides a payment solution for every possible situation that you can think of. Whether you are an influencer, own a shop, or just want to send a payment request personally. We host these services on our website www.kupay.finance which is directly connected to the KCC Blockchain and other EVM’s. We feature 3 products; Payments, Checkout and Donations. Our solutions are very accessible for everyone. For example it would take a maximum of 5 minutes to get signed up and get your personal donations-link. This way we will connect the traditional financial system to the blockchain which in our vision holds the future for all financial transactions.

Akshaj: Amazing! I definitely like how quick payments are on KuPay in general.

So I wanna know.. What are the differences between you and your competitors, basically other payment providers?

KPAgent: Good question. We have a solution for all situations. We have a team that is dedicated to making KuPay succeed. We are present on the best suitable blockchain for payments. We will be the provider that will charge the lowest or no fees at all. We have plug and play solutions for Woocommerce and Shopify and we are constantly improving. It will be difficult for competitors to compete or catch up :-).

Akshaj: Amazing, next to null gas fees is really amazing.. So everyone including me must be wondering that since you charge lowest or no fees so. What is the main source of revenue?

KPAgent: There’s not really any revenue being generated right now. All costs are paid from the investments that we have received from our team members and by selling the NFT’s. Also a good result in the Unicorn contest would help a lot. The focus is on growing our userbase. We feel his is the best way to add value to this project right now. But in the future we will switch to a system where a small fee is charged for transactions. For instance when a payment provider wants to whitelabel our products or when the amount of users will increase dramatically. That will only be for merchants. Donations and payment request fees will stay near zero.

Akshaj: Amazing, a bunch of useful information. Thank you answering it in such a detailed manner. Do you have any tokens or NFTs? If yes, how can we buy them?

KPAgent: Yes, we launched our first NFT series this March and we sold out within 2 days. The NFT series is called KuOrks and they are being traded on KuSwap’s marketplace. You can find it here; https://nft.kuswap.finance/#/nfts/collections/0x2ca9ee122915e76a9e64f0c2eeb8c233397ed248 Every KuOrk comes with perks that you might not want to miss out on. Also soon we will launch a second round of NFT’s in which we will surprise our community again with the benefits it will bring.

Akshaj: Amazing I too was shocked that in such a bad market too we sold out our NFT’s so fast. For sure everyone trusts us and definitely we will deliver them, and not to forget the utilities and future airdrop for holding KuOrks :).

What does the roadmap look like in 2022?

KPAgent: For this year, we’ve planned many major updates. We’re launching our own token, we’re launching a 2nd NFT series, we will be launching our KuPay Learning Centre where people can learn about DeFi and much more! Make sure to check our roadmap at https://trello.com/b/yXno5YPN/kupay-roadmap as we’re updating it weekly.

Akshaj: 2nd NFT series really? Amazing! And the KuPay Learning Centre will be awesome so everyone can learn a lot of information. As learning is earning.. :)

So coming to my next question; if KuPay reaches the top 10 in the Unicorn contest, how will it benefit the users? Is there anything special for the community?

KPAgent: Yes! We will be hosting an event during Carnival week. We will be sharing more information about this soon. KuPay is a project in which the community plays a big part. They are the ones that finance our project by owning our NFT’s and spreading the word about KuPay which helps a lot in bringing value to the ecosystem.. In return they will get an airdrop of our token and a share in our project after we launch our NFT-shares. If we reach top 5, you can imagine that we will have many more tools available to us to make token launch very succesful which will further help increase the value of the NFT-shares. Together with our community we can do it!

Akshaj: Thank you for answering my question. We definitely wish all the best to KuPay and are sure that with the support and love of the community you guys will be in the top 10.

So coming onto the last and favorite question of mine as well as the community; why did you choose KCC and not any other blockchain?

KPAgent: KCC is fast and has extremely low gas fees, which is perfect for merchants and consumers. We’ve expanded to other chains like BSC as well. but mainly to get a bigger audience. Everybody that wants to use blockchain technology as a payment tool is best off at KCC. We expect users that use our service at the other platforms will also realise this and jump over to KCC. We feel that we can create a very big eco-system here and bring value to KuPay, KCC and everybody that joins forces with us.

Akshaj: Thank you so much for taking the time to respond to my questions. My PC is about to get hanged thanks to the community for so many reactions — hahaha. So now the best and favorite part of each AMA about to come in :). I can see the reactions starting increasing, means everyone is excited. The best 5 questions chosen by the guest will get 10$ worth of KCS each. Chat will be unmuted for 2 minutes with slow mode of 5 minutes i.e. 1 question by each user so lets start. Gooo!

— Scroll down for the AMA questions and their answers —

Akshaj: Thank you so much KP for answering all the questions! It was really amazing.. You answered every question in such a detailed manner, the community must have loved it. Thank you so much it was a real amazing and fun interacting with you.

KPAgent: I agree. thank you everyone. We will have some great announcements soon. Please stay tuned!

AMA questions

Q: I see KuPay and TokenMerch are closely related. - So can we buy Merch on TokenMerch using KuPay ? I mean; what are your plans in building together?

A: Yes, you can buy merchandise of your favorite crypto project on TokenMerch.store using KuPay. TokenMerch.store is owned by KuPay, as it’s our demo showcase to test KuPay Checkout.

Q: I see you only listed a few coins in your payment channel. Do you have plans to list more coins or will it be limited to those?

A: We are listing more coins and more chains almost every week. Projects are free to contact us to get their token listed on KuPay. Listing your tokens in our products is free and can be done pretty quick as long as the token meets certain requirements.

Q: Based on the KuPay website claiming “Get your money back in a heartbeat”, tell us how can it be like that? What payments can users make through KuPay? What are the benefits of users when making payments through KuPay?

A: Getting your money back via KuPay is extremely easy. For example, if you want to request money from friends. Just go to https://api.kupay.finance/pay/generate,, type in the amount, say what it is for, select a blockchain, select the tokens you’d like to receive the payments in and share your request via QR or any messaging app that you are using. Using KuPay will prevent users from making mistakes in inserting the right address in the address field.

Q: What differentiates KuPay from its competitors?

A: Good question. We have a solution for all situations. We have a team that is dedicated to making KuPay succeed. We are present on the best suitable blockchain for payments. We will be the provider that will charge the lowest or no fees at all. We have plug and play solutions for Woocommerce and Shopify and we are constantly improving. It will be difficult for competitors to compete or catch up.

Q: What was your inspiration behind KuPay? Can you tell us the backstory of the start of KuPay and why you think there’s a need for a payment integration on the blockchain?

A: We were present at KCC blockchain from the beginning as a user. We started to engage in the community and then we felt that we could make a difference. We launched tokenmerch at first and then we realized how cool it would be if we could also provide a payment solution on chain in the collaborating projects home token. Thus KuPay was launched. We believe that blockchain payments hold the future.

Q: Did you think about developing DeFi features for KuOrks or other NFTs in KuPay? If so, could you give us a sneak peek?

A: We will provide defi-features for our tokens in the future. Owning a KuOrk already will give you benefits for when we launch our token and for when we release our NFT shares. We will be announcing more about this after the Unicorn contest.

Q: Do you have any plans to support other networks? If I want to use Polygon or BSC to send or receive payments, is this possible?

A: We’re already supporting different blockchains. For KuPay Payments we support KCC, BSC, MATIC, FTM, CRO, TLOS and ETH.

Q: I really wanna hold a good amount of $KUPAY and $sKUPAY, but I need to be sure of its profitability. Can you tell me the advantages of holding $KUPAY and $sKUPAY and also where to buy it? What is the $KUPAY and $sKUPAY token use case & how does it capture the value of the ecosystem you’re building?

A: At the time of writing, our token has not been launched yet. We will launch our token $KUPAY in the coming months. A few of the benefits of our token are; payment for real-life goods at the websites of connected merchants and using $KUPAY will entitle the buyer to discounts, promotions and exclusive offers. Also we will use profits of the platform to buy back $sKuPay. As $Kupay is the only token that will allow you to buy $sKuPay (besides holding a KuOrk) also we expect a lot of value to build up in our token.

Q: 1.How many NFTs will you be releasing and will your NFTs have rarities?
2.What unique marketing strategies are you going to be bringing pre launch and post launch?

A: Our next NFT collection will consist of 888 unique pieces, like our KuOrks NFT series. And yes, they will have rarities.
In terms of marketing strategies, we will give these new KuOrks also some very interesting perks.

Q: Will KuPay watch any network layer for expansion possibilities judging on performance,user base and transaction fees?

A: That is exactly what we will be looking for :-)

Q: Can you tell us if KuPay has been audited? As we know, smart contacts are very vulnerable to attacks.

A: Our code has not been audited yet, since we’re not using any smart contracts yet. We’re using nodes at the moment, but soon we will be adding smart contracts to our system. Soon after that, we will run an audit on our code.

Q: KuPay is a great source of payment, especially using crypto as a basis for it..my question is going to be about: is KuPay going to provide for the use of our tokens for purchasing gift cards a which is also a source of fund. I mean using our tokens to put for example the steamcard which is used for paying or subcribing games.

A: That sounds like a great idea, we are always looking for new ways to improve and spread our product. We will definitely consider all options.

Q: How is the delivery service going to be especially in the receive of goods for people who are located in different part of the world.

A: For TokenMerch we have a solution for every country you might be in. For other merchants it is up to them to decide to which countries them want to ship. KuPay can also be used for your local shop.

Q: Will KuPay have their own smartchain in future?

A: It’s on our roadmap as a future plan, but we’re not expecting this to be developed anytime soon.

Q: I checked your whitepaper and I’m very curious about KuPay Cashier, NFT shares and Blockchain Based digital Stock Exchange. Can you share some interesting things about it? And will there be a KuPay mobile app?

A: Great questions! KuPay Cashier will be our next product. This will be a tool for in-store merchants that makes it possible to use KuPay as a cashier and create payment requests that show a QR code directly. The customer then scans the QR code and makes the payment directly via Metamask.

About NFT shares; after the launch of the KuPay token, KuPay will issue NFT shares, named $sKUPAY. By holding these shares you will take ownership of the KuPay ecosystem and will be entitled to your share of the revenue.
About the KuPay mobile app; yes, we do have plans to make a KuPay mobile app as soon as we integrate profiles into our ecosystem. A mobile app would make it possible for us to send push messages to customers, notify users when payment requests are paid, etc.

Q: Do you consider community feedback and requests when developing your project?

A: Yes, definitely. We love feedback. please send it to us in https://t.me/kupayfinance or dm one of our community managers.

Q: For The DeFi Newbie, users that have touch base on crypto but are not familiar with DeFi (mostly CEX) investment or the concept of DeFi in general, What is your strategy to get them to be part of KuPay?

A: We will be hosting a learning website very soon in which we will teach everybody about DeFi.

Q: How do you intend to outperform similar projects, what is your competitive advantage against other projects and how do you plan to outplay possible competitors?

A: Good question. We have a solution for all situations. We have a team that is dedicated to making KuPay succeed. We are present on the best suitable blockchain for payments. We will be the provider that will charge the lowest or no fees at all. We have plug and play solutions for Woocommerce and Shopify and we are constantly improving. It will be difficult for competitors to compete or catch up.

Q: Since when was this project founded?

A: Our project was founded last december and from January on we launched our first products (in Beta).

Q: Is the KuPay team prepared for the Unicorn contest? And do you recruit any API Developers?

A: Yes, we’re definitely prepared for the Unicorn contest. We will soon be sharing more information about our Unicorn event, in which you can participate and help KuPay secure a top 5 finish.

We’re always on the lookout to grow our team. Feel free to reach out to one of our Community Managers at t.me/kupayfinance.

Q: According to the roadmap, what are your most important next priorities? Does your team have enough funds and a strong community to achieve those milestones?

A: Our community is growing fast. We feel like we have one of the most engaged communities on the KCC chain, so we’re confident in achieving all our milestones. In terms of funds; we hope to win the Unicorn contest, so we have funds to continue developing our ecosystem and work towards our token launch. We are hoping for your votes.

Q: Many projects have problems with UI/UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?

A: Tucho, one of the co-founders is a well experienced UI/UX Designer. We’re designing our apps keeping in mind that non-DeFi users are also able to understand. We do this by making our apps clean, simple and intuitive.

Q: What is your strongest advantage that you think will make your team leading the market?

A: We have a team that is dedicated to making KuPay succeed. We are present on the best suitable blockchain for payments. We will be the provider that will charge the lowest or no fees at all. We have plug and play solutions for Woocommerce and Shopify and we are constantly improving. It will be difficult for competitors to compete or catch up.

Q: Thanks for the opportunity. Looking at this project I must say it has a lot to offer. My question is; how do you plan to manage the fundings of this project and keep a balance between you and the investors so as to satisfy investors and also benefit from this project?

A: Our community are our investors. We will try to find an honest way to share the profits. We will use them to buy back our tokens and our NFT-shares. This way everybody that has invested money in this project will benefit.

Q: If I want to use KuPay for the first time. Do you have tutorial videos so I can get to know your project more clearly or do you have a YouTube channel or something?

A: Great! We always welcome new users :). Yes, we just recently launched our youtube channel. You can find it here; https://www.youtube.com/channel/UCeLQHCeuFJin6aYQ9nTyc-g. Also, we will be sharing our KuPay Learning Center soon, where you can find courses and tutorials. And if you’re stuck, feel free to reach out to our Community Managers at t.me/kupayfinance.

Q: Do you guys feel satisfied by seeing your progress and achievements till now, when you look back to the day when you have started this project?

A: Definitely! We’ve been working on the projects for 5 months now and we’ve built a whole ecosystem, launched and sold out an NFT collection in 2 days and grew our community to over 3,000 followers. We couldn’t done this without our team and community though, so much respect to them!

Q: Security is at the forefront of all projects, attacks are frequent these days. How does KuPay prevent this from happening? How secure is the platform?

A: We are not keeping the funds of users on our platform right now. We only facilitate the connection between your wallet and the blockchain. We have detectors in place that will warn us if there is any unauthorized interference with our backend system. In the future we will be keeping funds of our users on the platform. We will have our code audited at that point. We are confident that we have the best programmers to guarantee security of our platform. A guarantee system will be considered as soon as staking of funds on our platform will be available.

Q: In the vision & mission of KuPay there is a mention of earning interest. Will the interest be provided by KuPay?

A: As far as the mission statement is concerned that interest will not be provided by KuPay. The advantage for doing payments in the blockchain instead of in the traditional financial system is that here is so many options available for earning interest.

Q: Based on your marketplace; if I’m an artist that designs NFTs can I make use of your marketplace and the fees of making use of your platform?

A: We don’t have a marketplace.

Q: Is your project only for elite investors, what about others with small funds, is it open to everyone?

A: Yes, our project is open for everyone. And all our products are free to use.

Q: As KuPay is an app for payment, do you have any plans to offer a virtual debit or credit card for paying in other stores and apps? And maybe get cashback for that.

A: Stay tuned.. ;-)

Q: Do you have any plan to attract a large community and a large transaction volume to the KuPay platform?

A: Yes, we’re working towards are token launch now and are preparing a detailed marketing plan.

Q: Can you tell me something about the sale of KuPay NFT shares? What shares do you mean? Does your project support staking programs for nft?

A: KuPay NFT shares will be created after tokenlaunch. If you own one you will be a co-owner of this project. To be eligible to get the shares one will need to own a KuOrk or stake KuPay tokens on our website when that option becomes available.

Q: How will royalties funds be used coming from trading of KuOrks?

A: They are used for paying the costs that come with developing this project

Q: I understand the reason for choosing KCC, but have you considered bridging to other chains in the future to increase your user base?

A: Yes. We already support multiple chains. And for our next NFT launch we will be featuring 8 BSC projects, so our user base will increase.

Q: What are the most outstanding features of KuPay that other payment methods do not have? And is your payment method limited to merchandise?

A: Where other payment methods focus merely on only consumers or only merchants, we We have a solution for all situations. We have a team that is dedicated to making KuPay succeed. We are present on the best suitable blockchain for payments. We will be the provider that will charge the lowest or no fees at all. We have plug and play solutions for Woocommerce and Shopify and we are constantly improving. It will be difficult for competitors to compete or catch up.

Q: Will the service always be free?

A: Payment requests fees will always remain near zero. For a plugin for your ecommerce business the service will be free for now, but in the future we will add a small fee which can be reduced to zero by the merchants if certain conditions are met. For instance when holding a certain amount of KuPay token.

Q: Can you explain how your Tokenomics is distributed? How many tokens will be minted ? And how many tokens will be locked by the team?

A: You can check more details about our tokenomics in our litepaper at https://kupay.finance/docs/kupay_litepaper_1.0.2.pdf.

Q: Do you have any plans to cooperate with other KCC projects? Are you open for such cooperations?

We are already cooperating with many projects on KCC. We feel that our strength lies there. We will continue to pursue this.

Q: How does project increase the token’s value, liquidity and utility ? So that it can lead to an increase in token prices ? What is your plan to make your project stable and provide the highest return for investors in the long term?

A: We will use profits generated by KuPay to buy back our tokens until all tokens are

Q: Do you have any secure website where we can buy your token? and we can stay updated about your project and your activities?

A: Our token has not been launched yet. Please stay tuned in our social media channels.

https://mobile.twitter.com/kupayfinance
https://t.me/kupayfinance
https://t.me/tokenmerch
https://twitter.com/TokenMerchStore

Q: What top three factor makes this project unique?

A:

  1. Kupay connects the blockchain to the traditional financial system
  2. We have a payment solution for every situation
  3. We are connecting projects via our TokenMerch ecommerce business

Q: About your NFT Collection KuOrks which recently minted: So Could you tell us more about the current and future use-cases of these 888 KuOrks?

A: There are benefits connected to our KuOrks that you can read all about at https://tokenmerch.store/pages/kuorks

Q: Recently we seen BSC projects being supported. What other chains you looking forward to exploring / adding the most :) and why?

A: For merchants we are also supporting BSC yes, because it has so many users. Ethereum would be not suitable for us with the high transaction fees. For payment requests and donations however we are already supporting Ethereum, BSC, Polygon, CRO, TLOS and FTM. We are mostly adding them to grow the community bigger and to spread the word about KCC.

Q: How will you be able to survive in this bear market, what strategies do you have?

A: Our team members are very dedicated in making this project succeed. Before our KuOrk launch there was very little funding available to reward our team members. After launch it got a bit better, but we all understand that we have to show our commitment to this project to make it happen. All our team members have this commitment we noticed and this will get us through difficult times. There is no way to stop KuPay. We are working towards a very bright future. For the team, for the community, for all the unbanked people in the world. You can help by voting for us in the Unicorn contest. Together we will do it.

Q: Does the payment request link have any Expired date?

A: It does not. It will know if it has already been used, but you could use it a second time as well. That comes in handy when you want to do a repeating payment to somebody.

Q: Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?

A: This is all explained in our litepaper at https://kupay.finance/docs/kupay_litepaper_1.0.2.pdf

Q: How old is Your project? What are the major plans ahead? Could you show to us image of your roadmap?

A: https://trello.com/b/yXno5YPN/kupay-roadmap

Q: Please can we use KuPay to make make payments directly to bank, If No do you have plans for that in future?

A: We think that the future lies in buidling the ecosystem completely on the blockchain. However to get the funds on the blockchain it would help if there is an easy connection with the traditional financial system. We are definately considering this.

Q: Do you plan to provide services on networks other than the kcc network?

A: Yes ser, we are multichain alreadry. At the moment we support a total of 7 smart contract platforms.

Q: In my opinion Listing on the right exchanges especially the major exchanges will help increase the token price and is a pretty good form of Marketing. So Where can we buy Tokens and what plans do you have for listing on major DEX and CEX exchanges?

A: We agree with you on this. We will be aiming for the best possible place to launch our token. It will depend a bit on how much funds we will have available for promotion. We can not disclose anything right now. What will surely help is a good result in the unicorn contest. If our community helps us with their vote, If you make sure you own a KuOrk and if you follow our announcement channel closely we might have a lot in store for everybody.

Q: what would you do if your project was hacked and what would happen to investors? are you responsible for this?

A: We are not keeping the funds of users on our platform right now. We only facilitate the connection between your wallet and the blockchain. We have detectors in place that will warn us if there is any unauthorized interference with our backend system. In the future we will be keeping funds of our users on the platform. We will have our code audited at that point. We are confident that we have the best programmers to guarantee security of our platform. A guarantee system will be considered as soon as staking of funds on our platform will be available.

Q: Since NFT is popular nowadays, is there a plan for NFT integration?

A: Yes ser, we are buidling a complete ecosystem where there will be a use case for our NFT’s and for our Token

Q: I have used KuPay recently and i loved it ♥️ ! As we see there are very low users using it , so what are your plans for Partnerships and Marketing? Also thoughts on mass adoption and how will team handle it?

A: We are focussed on building our community. We think that if we give them the best user-experience the word about KuPay will spread. Furthermore we will be hosting the Reversed Pyramid Learning Game in which people will teach each other about KuPay and Defi. We are collaborating with many projects via our Tokenmerch shop and also users of KuPay are increasing steadily. Together with our partners we will do joint social media campaigns

For mass adoption. We will make our products plug and play with the focus on user friendliness. It’s just a simple download and then you are all set. There will be no need to ask a lot of questions because it will all be very clear. As we will be teaching DeFi and KuPay on our learning website (soon to be announced) many people will know about KuPay. They will teach each other and can help each other in our Telegram channels if there is anything to be solved. Of Course we will be present in our Telegram channels as well for questions.

Q: How many chain KuPay support to pay and can we pay via KuPay after shopping?

A: KuPay supports 2 (EVM) blockchains for ecommerce checkout and 7 for Payment requests and Donations. This amount will increase in time.

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