Recapitulation of WADAPAY PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 18th June, 2021
Time: 16:00 UTC
The WADAPAY PROJECT team was represented by @PeLpA87 and @Danielblitman who judiciously shared with us detailed knowledge and information about WADAPAY PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on WADAPAY?
ANS: The Team consist of 3 people. We are from Argentina (the southernt country in South
My name is Daniel Blitman, I am the CEO of WADABOO and WADAPAY. I've been leading the
project since it started in 2017, with Nicolas Passerini ( CTO ).
We were working together with a club of entrepreneurs, businessmen and industrialists to
have feedbacks and develop according to those opinions. Then in 2019 Damian Ladiani joined
our team as a full stack developer working side by side with Nicolas.
I, Daniel Blitman, have more than 15 years of experience developing companies, I currently
have 2 companies running, Segupetrol and Wadaboo.
Nicolas Passerini is IT manager at the Legislature of Buenos Aires and Damian Ladiani is a developer at Metrotel (an internet company).
Q2: Can you introduce WADAPAY, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Yes, they were difficult years and difficult times, but any entrepreneur would do the same if he likes the project.
Before talking about what Wadapay is, let's talk about the problems that Wadaboo solves.
Wadaboo is a reverse auction platform to improve purchasing processes in companies. These are the problems we currently seek to tackle:
1. Disorganized purchases, without proper planning.
2. Limited suppliers, which means that costs are not 100% effective.
3. Private processes that are not transparent.
4. Quotations often do not receive feedback before the purchasing employee closes the deal with someone at will, so there is no possibility to renegotiate the price or conditions.
5. Employees with negotiation skills, 100% dedicated to the purchasing task.
6. Entrepreneurs and SMEs with little purchasing power (lack of money). They increase costs without being able to transfer that value to the selling price, resulting on profit loss.
And these problems occur in every country in the world. Not only in Argentina or South America, that's why Wadaboo can expand.
All this being said, we can talk about Wadapay.
Wadapay is a cryptocurrency we created to work within Wadaboo; so that companies can not only lower their expenses but also buy and sell products and services, make international transactions and apply for loans.
Q3: So, Wadaboo is the project while wadapay is the token that governs wadaboo?
ANS: Not exactly, actually $WAPAY is a token to work within the platform that facilitates payments and allows us, Wadaboo, to provide additional services, such as loans and advances.
WAPAY is a complement to a product that we have in operation today.
Q4: Then there is more emphasis on "purchase". What benefits does wadaboo have for Sellers?
ANS: The benefits are clear, automation, optimization and organization of purchasing processes equals lower operating costs, and best of all, FREE for buyers. And for sellers, they have a new sales channel. And quotes can be viewed in real time.
Q5: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: About timeline, It was a very hard road we went through: many years of development, we had to face the fact that we had no capital, put aside our "social" life because we were working on other projects :), more than a year of pandemic, etc. and we still have many challenges ahead of us. here are the most important points we have gone through during these years:
We got together with Nicolas and started designing Wadaboo.
We registered the company "WADABOO SAS" to be able to participate in different state programs and raise some capital.
We start to actively participating in entrepreneurial and technological communities, such as Telefonica's Open Future, entrepreneurship clubs, etc.
We launch for the first time the MVP and start getting the first feedbacks from real users. The development team gets bigger (Damian Ladiani joins to support us with the development).
We relaunch the beta version with good feedback, and more users join us. Currently we have more than 200 users and auctions that are being published every month.
the idea of creating Wadapay is born. $WAPAY is a cryptocurrency for Wadaboo users to use as a payment method.
About Roadmap (These are some of the challenges ahead of us, some of which we have already met.)
June 9, 2021
200,000,000,000,000 $WAPAY (enhanced version of WPAY) is created and we start with the distribution strategy.
June 15, 2021 - June 21, 2021
The seed phase (PRE-IDO) begins. First for those on the whitelist and now open for anyone interested at $0.00000183 USDT per token. If you want you can join now :)
July 5, 2021
Pre-sale (IDO or ILO) begins on Unycrypt scheduled with an 80% lock-in for the liquidity pool at $0.00000367 USDT per token.
WAPAY is automatically listed on Pancakeswap with good liquidity (80% of IDO) at a value of $0.00000550 USDT per token (MC of 632K USDT).
Wadaboo invests in trading in Argentina
Integration of Wadapay with Wadaboo
Q4 2021 -Q1 2022
Wadaboo opens operations in Chile
Wadaboo invests in marketing in Chile
Q2 2022 -Q3 2022
We intend to list on exchanges
Wadaboo opens operations in Colombia and Brazil
Q4 2022 -Q1 2023
Wadaboo opens operations in Mexico, Spain and the United States
We invest heavily in marketing and advertising in these countries.
Can you share how to participate in the seed sales?
If you want you can join now https://t.me/wadapaychat
here you have all the information to join.
Q6: Can you briefly describe your PARTNERSHIPS so far?
ANS: Sure, anyone who is interested can now participate,
We are looking to raise 52BNB (Hard Cap), which will be used for Marketing and other listing expenses.
Min 0.2BNB and max 2BNB per wallet.
In our group you can find the Address to participate
We are supported by Telefónica's Open Future (a Spanish telephone and internet company that is active in Argentina).
Open Future is the incubator for start ups and helped us a lot in these 4 years of development, with intensive programs that we use to grow. We are always looking for new partners that can help us grow.
Q7: Can you give an overview of your Tokenomics, and the UTILITY of the $WAPAY Token?
ANS: Sure, We have 2 key features:
Auto LP 7% each sale or purchase transaction.
Rewards 3% distributed on each sale or purchase transaction.
The $WAPAY tokens are used within the main platform, WADABOO, where companies will be able to buy and sell products and services, make international shipments at low cost and take out loans to buy machinery and increase their production.
For example, companies generally buy with deferred checks. If a supplier delivers the goods and does not want to wait 30/60/90 days to be paid, he can ask for an advance with $WAPAY, paying a very low fee. With those $WAPAY he can pay his other suppliers, and a sustainable chain of use is generated for $WAPAY (it is not easy but companies can be educated in its use).
Another example would be that a company that has to send money to a branch in another country could do it for FREE and then withdraw or sell it at low cost.
In the case of loans, in general a company has to meet many requirements at a bank to access acceptable rates or fall into lenders with very high rates. With $WAPAY you could take out loans at very low rates (we will always do an investigation of each company, beforehand).
In short, $WAPAY will give us the possibility to provide a whole range of tools necessary to help LATAM SMEs grow and develop.
2nd Segment: LIVE Questions
Q1: 🧨 With Wadapay being a project based on Argentina, you must be well aware of how difficult it's for Latin American countries to adopt this new crypto technologies. So, what plans do you have to get to other countries (Latino or not) where crypto is not very well known yet?
ANS: The adoption of any technology is a challenge. For example, facial recognition dates back to the 1950s but it is only now booming because it can be adopted massively on a smartphone.
We have several strategies for companies to adopt $WAPAY as a payment method, such as welcome bonuses and for X amount invoiced we give you some tokens, or give you the opportunity to advance payments for deferred checks to 30/60/90 days.
Q2: 1. Tokens can constantly fluctuates according to demand. If $Wadapay is to be used to pay for purchases and sales within the platform, what mechanism are you using to maintain price fluctuations?
2. What do you mean by electronic reserve auction?
3. Since wadaboo is a SCM based company, how do you intend to improve
C. efficiency of operations
ANS: Very interesting questions: 1. to prevent this from happening abruptly, we programmed the IDO, so that 80% of the proceeds go for the liquidity pool and the code has the function to derive 7% towards the liquidity pool each time it is sold or bought.
Bitcoin also goes up and down in price constantly and yet many companies use it to attract buyers.
One of the worst things a company can do is to buy in a hurry or at a high price. Quality can be matched or improved by lowering the costs of productive and non-productive items.
If a company buys better equipment for workers, they will feel more comfortable, and if they feel better, they will perform better, and in the medium/long term it is a benefit for the company.
By buying at a better cost, production can improve in the long run if a company decides to upgrade its production machinery.
Q3: WADAPAY is currently centered in Argentina and about starting in Chile, Aside South America, are we likely to see WADAPAY in other continents such as Asia and Africa in the near future ? Aside $WAPAY, is there any currency accepted on the WAPAY platform andAre you likely to have a physical location/store ?
ANS: I don't think we will expand to Asia or Africa for now. Every country that opens up is a huge marketing expense. So we hope to grow in each one little by little.
Q4: Do you have any plans to attract non-crypto investors to cryption who are still not in the crypto world specially as a new project entering to crypto. What are the plans to increase awareness about cryption around in non-crypto space?
ANS: Yes, for companies, with bonuses for registration and x amount in purchases. And for individuals to develop an app as a wallet so they can pay with the $WAPAY they have as a balance.
Q5: I found 2 different website of you guies
Can you tell what are the difference between WADAPAY and WADABOO? Why you created 2 different website for each? Are they both important for everyone or each one created for different people?
ANS: On one hand, there is WADABOO, which is our product and platform. Currently running with more than 700 registered users.
On the other is WADAPAY, which as we said, is a token that will give us a range of tools to provide our users.
We thought it appropriate to separate the sites, at least in this initial phase, in order to focus attention separately on both items.
Q6: Many cryptocurrencies do not solve any real problems; instead, they exist solely to sell their tokens. What problems do you solve and what solutions do you offer?
ANS: The problems we solve are the ones we mentioned before, that companies can advance their collections instead of deferred checks at 30/60/90 days for a minimal commission. There are several other examples.
Q7: WADAPAY is in it’s early stage. In early stage many project promise to provide many attractive features to atract people but in the long term they can't provide those. And as a result people lost interest in the project and project fall. So the facilities WADAPAY is promising us to provide will it be for long term? Or like many other project we will not get the facilities as promised?
ANS: One of the main differences, with the projects you mention, is that WADABOO is a company that actually exists, is registered and is operating. You can search on the internet in the pages of the government records and you will see the incorporation of the company.
Therefore, as a working company we must be in constant evolution in order to progress and that is the engine that drives us.
Q8: From your roadmap, I see that Wadaboo will invest in marketing Argentina Integration of Wadapay with Wadaboo in Q3 2021. Why are you not looking at other countries like those in Africa? Why concentrating on Argentina alone?
ANS: Because every country in which it operates has a huge advertising expenditure. That's why we start small.
When a purchase is published, an email notification is sent to each supplier. If you want to participate in the auction you can bid below. All this creates a competitive and honest environment, where the buyer as well as the suppliers can see live what is happening with the auction.
Q9: The Wapay token that positive contribution will bring to the holder? Why do you recommend this token?
ANS: First, for a retail investor, $WAPAY tokenomics, rewards holders.
Secondly, as WADABOO progresses and expands to other countries, it will generate buying pressure on $WAPAY, as users of the platform will need the token to trade at a profit.
In addition, within Wadaboo, we will generate an ecosystem through which it will be profitable to trade with $WAPAY, which will eventually make $WAPAY the main token used within the platform, reducing the selling pressure and increasing again the buying pressure.
Q10: I learnd you guies took some short time marketing plan. If i not wrong this ama is also a part of the plan. So what other marketing plan you guies have? And as we all know in crypto marketing is so so important. There’s need some long term marketing plan to create the hipe. So what are the long term marketing plan you guies have?
ANS: Marketing is EVERYTHING. A very good product that does not know how to sell is worth NOTHING. That's why we are going to carry out several marketing strategies in addition to the AMA, we hire several crypto marketing specialists, we create alliances with influencers, we APPEAR ON COINTELEGRAPH :) etc.
Follow Us On Our Various Social Media Communities For More Update;
You can find our Whitepaper in wadapay site and in our Telegram group!
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