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Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Payr and our guest was @midasico, @intelmin, @blake0619, and @cedric22pk?—?representatives of Payr. The AMA took place on 12th of June.
The total reward pool was 500$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1?—?introduction and questions from the Website
Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Payr! Welcome to Satoshi Club
D. | Satoshi Club:
Today our guests?—?@midasico @intelmin @blake0619 @cedric22pk !
Hey, guys how are you doing?
Blake:
Hi Community!
Ced:
Hello, nice to meet you @all
Blake:
We are doing good.
Mary | Satoshi Club:
Hi, guys! Welcome here
We are also happy to e-meet you
Blake:
We are happy to have an AMA in Satoshi Club.
Mary | Satoshi Club:
We have big plans for our AMA
but first of all could you please introduce yourself and tell us more about Payr
Ced:
Sure.
PayrLink is a decentralized application powered by Blockchain technology that works as a decentralized third-party arbitrates transactions in a private manner from very simple and highly complex ones.
The result is a private solution and secure escrow service that renders ultimate judgements in a fast, inexpensive, reliable and decentralized way.
Mary | Satoshi Club:
These services will be available across your platform or also can be used by third parties?
Ced:
Our CEO is Maxsim Boiko Jin, who is highly motivated Founder of PayrLink with a combined experience in blockchain, which includes leadership, program and organizational development. Specialized expertise in the development of innovative DeFi and he is pushing PayrLink to the goal of next generation of Escrow
Nice question
Our escrow service will be available across our platform and also can be available by third parties
For e-shopping, market places and so on
D. | Satoshi Club:
So you are a public team, not anon?
Ced:
We are public team.
Mary | Satoshi Club:
Did you develop your project for a long time or just started?
D. | Satoshi Club:
Why did you not put your photos on the site?
Ced:
We developed our project since last year and MVP already has been released
PAYR is going to be listed on centralized exchanges like Probit, and our team already passed their KYC verification.
Blake:
We have put our LinkedIn profile and other social profiles. People can see our photo from there.
Mary | Satoshi Club:
Super! But it’s almost ready to be fully relised?
Ced:
According to our roadmap, we are planning to release the full version in July
Mary | Satoshi Club:
Awesome! We will wait for news from you!
Ced:
Thanks.
Mary | Satoshi Club:
Thank you for your intro! Ready to go to the questions from our community?
Blake:
We are ready!
D. | Satoshi Club:
Q1 from Telegram user @Highpee
Your public sale has started and it will end on 21st of June. I discovered investors will have to join sale directly from your website by connecting their METAMASK to the presale dApp on your page. I am always reluctant to connect my metamask and approve transactions on DApps I am not conversant with. How safe is this process and are there other alternative to buy from presale without connecting my metamask? How many token are you distrusting in your public sale and how much do you plan to raise? What is the presale price and how many $PAYR can be bought per user?
Ced:
Our public-sale on website is based on smart contract and smart contract is already audited by Solidity.finance.
We are planning to distribute 24 million PAYR via public-sale. and current public-sale price is 20% off than listing price
And everyone can buy 5 ETH worth of PAYR at max.
D. | Satoshi Club:
Are you not afraid launching your project on a bear market (some people saying we a on bear market
)? we had AMA with projects who postponed their launches because of the current market state.
Ced:
Yeah, it was a very confusing problem.
But we wanted to go along with our roadmap and plans. and also we trusted our early contributors.
Mary | Satoshi Club:
What will you do with tokens if they won’t be sold? But of course we wish you to reach hard cap
Mary | Satoshi Club:
I mean with that part which won’t be sold if this will take place
Ced:
yes, our public-sale is hard-cap. and the tokens will be burnt if they won’t be sold.
Mary | Satoshi Club:
Gotcha
Thank you for your answers! Ready to go to the next question?
Ced:
Sure
Q2 from Telegram user @SabriFR
PayrLink’s goal is to revolutionize the trust industry with decentralization, but from their point of view; Why is it necessary to revolutionize the trust industry, at present it is not relevant or can not meet the needs of users? And how would they be able to revolutionize it so that it is completely effective for users, what are the tools and strategies that they are going to implement?
????
:
Our goal is to revolutionize the crypto escrow with secure and decentralized solution.
Mary | Satoshi Club:
Welcome here
What issues do you see in existing system? Why it has to be revolutionized?
????
:
Actually, since crypto transaction is irreversible, many crypto users are losing their money because of untrusted services and scams.
Ced:
According to research, number of reports in financial fraud is over 40k in Australia last year
The amount lost is over 30 million dollars.
????
:
Here are main reasons why we are trying to revolutionize crypto escrow services.
- Crypto Transactions are INSECURE since it is unable to refund
- All Transactions are PUBLIC in Blockchain Network
- Existing Escrow Services are Too CENTRALIZED
Mary | Satoshi Club:
Wow! It’s incredible number!
????
:
And, although blockchain technology serves as a powerful tool because of how it delivers transparency, not everyone wants their transactions and balances to be publicly viewed by everyone. PayrLink ensures that users can be afforded anonymity and privacy, all while giving them some much-needed peace of mind.
Mary | Satoshi Club:
In crypto we are losing more daily, i think, in rugpulls and hacks
Ced:
Yes, that’s right.
That’s the reason why we need the innovation in crypto escrow service and decentralized arbitration
Mary | Satoshi Club:
Yes, it has sense
Can you give us example from real life how you can prevent fraud?
Ced:
PayrLink recently set out a use case that illustrates how its infrastructure works. In this case, Alice is an entrepreneur in the U.S. who hires Bob, a programmer in another country. Alice ends up unsatisfied with the quality of the work that has been delivered, but Bob argues that what he produced was exactly in line with the project’s specifications. Given the sheer expense associated with international disputes of this nature, PayrLink’s infrastructure helps offer a more affordable alternative.
Jurors who are specialized in these areas have the chance to assess who they think is right, being rewarded for their efforts. Both participants in the case end up being informed by email about the outcome of the dispute, and a smart contract releases funds to that party.
Mary | Satoshi Club:
Super! Thank you for your clear answers
Ready to proceed?
Ced:
Yeah, ready.
????
:
Yeah
Q3 from Telegram user @JoanaZ
Considering that the main purpose of the platform is offer a secure P2P platform to users to interact with Fiat and Stablecoins, can you tell us why do you need the PAYR token? How this token fits into the ecosystem?
Ced:
PAYR is the governance token of PayrLink. PAYR holders can stake their PAYR to PayrLink escrow pools and get rewarded from PayrLink.
Intel:
PayrLink is a secure escrow platform, where people can make safer transactions of crypto currencies. People should spend very low percentage of transaction amount as a fee per transaction, and this would be our main profit source. PAYR Holders could stake their PAYR into the platform to get a part of the total profit generated by platform.
Anybody from anywhere of the world can be a juror and can take part in our disputes resolution. Jurors could get revenue by their fair judgement. The revenue source of jurors would be the disputes fee provided by dispute parties.
Mary | Satoshi Club:
They will be only able to stake PAYR on your platform or you will add farming on some platforms also?
D. | Satoshi Club:
How many percentage of total supply allocated to rewards pool?
Intel:
Our team already have completed our farming DApp, where people can stake lp tokens and get rewards in PAYR.
We are going to launch the farming app once the PAYR token is listed on Exchanges.
Mary | Satoshi Club:
Btw, which blockchain you will use?
Ced:
PAYR supply is not allocated to reward pool. Rewards for stakers are generated from PayrLink as transaction fees.
Ethereum mainnet.
For the future plans, we will implement our service in BSC and Solana.
Mary | Satoshi Club:
Only Ethereum or you will add more in the future?
Oh, i see
Thank you, guys! Do you want to add something or we can go to the next question?
Ced:
Done, thanks
Q4 from Telegram user @Ashia_24
PayrLink is similar to a digital court system, with jurors acting as judges in a real court, with ultimate rulings based on their vote contracts. Could you tell us about your Jurors? Are they qualified and experienced in judging both parties and determining who will win the case? What are the criteria for selecting jurors in your platform? How to become one of your Jurors?
????
:
Anyone can be a juror but they will be asked for strict KYC and verification process in order to work as a juror.
Our arbitration has 3 core features, reputation system, private voting, and KYC.
Mary | Satoshi Club:
How you will incentive people to become Jurors?
????
:
Once they have passed the KYC, they should stake $PAYR and our voting system will work with proof of stake.
D. | Satoshi Club:
Do they have to hodl any minimum amount of $PAYR to be a candidate?
Intel:
PayrLink takes a dispute fee when resolving each dispute.
Once a dispute is resolved, the dispute fee will be distributed to winning jurors.
Intel:
Yes, the dispute fee will be distributed in proportion to their staked PAYR amounts.
Mary | Satoshi Club:
That’s nice
What is minimum to hold?
Intel:
There’s no minimum amount.
The voting result is related to their staked amount.
So the less a juror staked, the less weight will be affected to the voting result.
Jurors can’t take part in the voting if they stake zero PAYR.
Mary | Satoshi Club:
Very clear answers, guys
Ready to go to the next question?
Intel:
Sure.
Q5 from Telegram user @Cheriemike
Overflow and underflow bugs are infamous bugs that are not just problematic in smart contracts, but also in traditional systems. We have seen most cryptocurrency project’s been stolen by hackers using phishing attacks to steal their cryptocurrencies. How does Payrlink plan to solve this blockchain security issues please kindly tell us. Thanks.
????
:
Yes.
Ced:
Our smart contract are already audited by Solidity.finance to prevent that kinds of bugs and attacks. Our devs already implemented some guards and exceptions in the smart contracts.
D. | Satoshi Club:
Do you have plans to do audit from top-tier audit firm? like certik or slowmist?
????
:
Of course we will ask auditing to that kind of top tier audit firms soon
Mary | Satoshi Club:
May be you plan some cooperations or partnerships with insurance projects to prevent loses in case something will go wrong?
Ced:
Currently, we don’t have partnerships with insurance projects now, but will do it for the future plans.
Mary | Satoshi Club:
Gotcha
Guys, are you ready to go to the 6th and last question from this part?
Blake:
Yeah
????
:
Yes, please.
Q6 from Telegram user @orlemys
Your roadmap only offers information on your plans until July 2021. Since it seems like this app is complete and easy to use, maybe it is difficult to see how far it can go. This project can be considered a long-term one, but it still makes me curious, do you plan on releasing new features in the future? If not, does it feel like you’ve reached a dead end?
Intel:
We already announced the enhanced roadmap of 2021 as a medium article.
https://medium.com/@payrlink_official/roadmap-2021-of-payrlink-9513e4748893
We have lots of plans to improve our project this year, including launching v1.0 on both Ethereum mainnet and BSC, Creating cross-network bridge, etc.
Mary | Satoshi Club:
Oh, you will have one more pre sale on BSC
D. | Satoshi Club:
I can’t see any plans regarding NFTs
Mary | Satoshi Club:
How is it even possible
Ced:
PayrLink doesn’t support NFTs
Since PayrLink is a DeFi project, we will implement stable coins and master coins.
D. | Satoshi Club:
Understood, thanks! what are master coins btw?
Ced:
BTC, ETH, something like these, I mean
D. | Satoshi Club:
Ohh, got it
Mary | Satoshi Club:
This was awesome
Part 2?—?live questions from the Telegram community
Q1 from Telegram user @bindass1444
On your website, I read your white paper … My question is what’s the role of juries in payrlink platform… And can I become a jury…. And whats are the requirements for becoming a jury???
Ced:
To be a juror in PayrLink, you have to pass KYC verification on our platform. And then you have to stake your $PAYR to the decentralized arbitration center. Those are the main steps to become a juror.
Q2 from Telegram user @Karoceh
You mentioned that PayrLink ensures that users can be afforded anonymity and privacy. But how will Payr tackle the regulatory measure or/and any other tight restrictions issues? and is KYC mandatory to use Payr services?
Blake:
Anyone can use our service anywhere. They don’t need to do KYC verification. KYC is mandatory for users who want to be jurors.
Q3 from Telegram user @cryptoneco
The expansion strategy of the projects to reach more users is important. What regions are you currently focusing on geographically to attract more customers and users to PayrLink?
????
:
Our geographical target is all over the world.
Since our aims is to make PAYRLINK the world most popular and secure crypto escrow and final goal to make a reliable payment gateway, anyone can use our PAYRLINK from any way and anytime.
That is why there is no limit and specification in geographical target.
Q4 from Telegram user @NSZR1
I read that PayrLink prides itself in providing a secure service to help prevent the losses of consumers would have faced due to fraud. Could you briefly explain what features of Payrlink serve exactly this purpose? In addition, the security and privacy of the users is a very important issue, how is the ZKP able to ensure that the information of the users is not leaked?
Ced:
Since PayrLink is an escrow service with decentralized arbitration, it will resolve the disputes between buyers and sellers to prevent the losses of consumers in a fair manner. For privacy, we implement ZKP to hide the address of the recipient, so that no one can track their transactions.
Q5 from Telegram user @Arisabela
I saw that your early buyers from presale will be able to withdraw their $ PAYR after listed on uniswap, but will it be immediately after presale? Many times it takes a long time to list the token and add liquidity which generates anxiety in the buyers, do you assure that it will be fast? What other plans do you have to list your token on exchanges?
Blake:
Yes, the buyers from presale is able to withdraw their $PAYR after listing. To make listing quicker, we already contacted Probit and we are working together to list our token. IEO will be done on Probit after presale, and it will take nearly a week to list our token on Probit Exchange. At that time, we will also provide liquidity to uniswap. After this process, buyers from presale can withdraw their $PAYR.
Q6 from Telegram user @analindy1
You told your to implement your service on BSC and Solona. why do you to implement on TRx also? You said you use etherium mainnet!
firsly you use etherium ! why? what do you think about etherium and bsc bridge?
????
:
Implementing PayrLink on BSC is our plan after launching the Ethereum Mainnet, and we will implement our service to many other networks as we announced from the needs of our Escrow, including Solana, Tron, and Matic.
Q7 from Telegram user @manugotsuka
This June 23 Payr will conduct its pre-sale event so can you give us a summary about how participate on it? Do you require any special step before it?
Ced:
Here is the user guide for public-sale participants.
https://medium.com/@payrlink_official/how-to-buy-payr-public-sale-user-guide-738927d0a23c
There is no special steps for public-sale.
Q8 from Telegram user @Rosane1a88
In PayrLink disputes will be resolved by distributed Jurors all around the world, which have to be fully verified. How is that verification process and what makes it enough to know Jurors are worth the trust of both parts of a dispute?
Intel:
Here is our verification process.
Candidates who are willing to become a juror in our Arbitration Center should pass KYC verification. They are required to send their personal information like Full Name, Resident Address, Photo, Government Issued ID Card, etc. Our support team is dedicated to verifying this information and will get back to them.
Verified jurors should be unknown to communities since it could affect their fair actions on dispute resolution. If someone violet this rule, he would be removed from juror lists immediately.
Q9 from Telegram user @nadee5
PayrLink is a huge project.
How do you make popular this worldwide?What are the strategies to attract more users? especially non-english users?
????
:
Since PayrLink targets worldwide as a geographical target, we will implement multi-language features and open official communities for non-English users.
PayrLink is hiring now, and we will hire experts in marketing for non-English users.
Q10 from Telegram user @Cheriemike
What is Safemath and Re-entrancy Guard in your platform?
Intel:
Safemath and Re-entrancy are libraries to protect our Smart Contracts from those kinds of attacks.
SafeMath. Wrappers over Solidity’s arithmetic operations with added overflow checks. SafeMath restores this intuition by reverting the transaction when an operation overflows. Using this library instead of the unchecked operations eliminates an entire class of bugs, so it’s recommended to use it always.
Re-entrancy Gurad is used to protect our Smart Contract from re-entrancy attacks, the well-known vulnerabilities of Smart Contract.
Part 3?—?Quiz Results
In the final part, we tested your knowledge in terms of Payr. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
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