Hotbit AMA🎉PayYoda (YOT) AMA in English Telegram
Daisy Lee: Hello, everyone. Let’s welcome Kendy @Kendy_OS, CMO of PayYoda project in AMA. Kendy, Could you give a brief introduction for yourself and PayYoda project to our community first?
Kendy: Hi,everyone, nice to meet you, this is Kendy from PayYoda team, I am mainly responsible for the marketing business of YOT. Happy to be here to share PayYoda project with you.
PayYoda is a safe, transparent and professional decentralized payment application platform, which aims to build a new payment application ecosystem with the blockchain as the carrier. The platform provides a safe and stable place for people to enjoy the digital lifestyle by means of the blockchain, AI driven payment and multi-application business in the ecosystem. 2020 is the first year of DeFi. So, how about the DeFi trend for 2021? PayYoda will give you an exclusive interpretation.
Daisy Lee: Thanks for the introduction, Kendy. Let’s start my questions. If we use a word to summarize the encryption innovation of 2020, it is definitely DeFi. Considering the market value of DeFi and the traditional financial institutions that are integrating DeFi services, the industry is worth much more today. 2020 is about to end, and what’s the DeFi trend for 2021?
Kendy: Okay. I’m pleased to be here with you today and talk about the development trend of DeFi. The sudden rise of DeFi led a new bull market in crypto assets in 2020. DeFi’s total value has soared to USD 8 billion from USD 0.7 billion at the beginning of the year. It means that the DeFi is opening the new era of the finance.
DeFi not only brings a wave of speculation emotion arising from the wealth effect, but also effectively drives the overall development of the blockchain industry. The concepts of value represented by inter-blockchain, distributed storage and payment are also taken seriously, and the DeFi hot market also drives the development of relevant technologies and applications. No matter the distributed storage, payment channel or beneficiaries, these blockchain value are effectively magnified based on the driving of the market, which reversely promotes the industry development.
Daisy Lee: A very interesting thought. Kendy makes a very good summary. So, do you think in which industry that DeFi will yield an unusually brilliant result?
Kendy: The hot pursuit habits developed with the DeFi craze under the current market as well as the advantages of blockchain as several hot concepts are likely to drive the soaring of the payment concept. The payment industry is a huge market, and the global payment market continues to grow. It is expected that the global payment market revenue will reach USD 2.7 trillion by 2023.
We all know that, compared with the traditional finance, DeFi is more open and inclusive; Firstly, DeFi doesn’t need to rely on any centralized entity to provide credit intermediary or endorsement; secondly, no access restrictions. That is, anyone connected to the Internet can access to it; thirdly, DeFi is on the basis of Cold Wallet. Any third party can’t stop nor reverse any transaction. So, I believe that DeFi is quite suitable for the payment scenario application. The payment ecosystem will become the next traffic entrance of DeFi!
But for now, the traditional payment still has obvious pain points, including high payment service charge, inefficient and high-cost cross-border transfer, poor intercommunity between different networks as well as security and privacy concerns under the operation mode of centralized institutions. All these problems promote many practitioners eager to explore solutions.
Daisy Lee: OK. As far as I know, PayYoda is a blockchain-based payment project. But for ordinary and traditional payment means, what’s the advantage of PayYoda?
Kendy: As the commercial application of blockchain, big data, cloud computing, artificial intelligence (AI) and other technologies, technologies are accelerating the penetration of payment services. PayYoda is a safe, transparent and professional decentralized payment application ecosystem. PayYoda is supported by the blockchain technology and driven by big data, AI and other high and new technologies. By taking technology advantages of open, fair, transparent, traceable, non-tamper and so on of distributed storage of the blockchain, PayYoda will greatly reduce the payment costs and intermediate links and improve the circulation efficiency.
Besides, the payment project of the blockchain will be widely applied on a large scale. It will certainly equal to and exceed the existing excellent payment products in the payment experience, payment application scenario, operation support and other aspects. But it is difficult for the blockchain payment projects to meet the requirements due to their different positioning.
PayYoda pays more attention to providing payment agreements and developing the open source platform, and allows the payment institutions/channels to more quickly and cheaply use the blockchain technology to solve relevant problems or meet relevant requirements; a set of simple, practical and operable blockchain payment technology solutions assist developers to better expand and redevelop on this basis; meanwhile, it can also link to related industrial chains, and build a blockchain decentralized payment ecosystem with clear division of labor, improved social efficiency and reduced related costs.
Daisy Lee: Now, I have a clearer understanding of PayYoda. Well, is the PayYoda involved in DeFi?
Kendy: Of course. DeFi is gradually strengthening its unique value proposition, and also brings a new opportunity for the development of PayYoda. DeFi+ payment is a unique field that has not been fully developed. PayYoda keeps absorbing the essence and learning. There will be more innovative solutions in the future.
And, the nature of DeFi is the decentration. As a globally adaptable decentralized payment infrastructure, PayYoda fits well with the concept of DeFi. Combined with the concept of DeFi, PayYoda will complete the integration of the application system and blockchain platform in the industry, achieve the seamless connection between the new technology and traditional industries as well as the existing application system. Thus, it will break through the technical bottleneck of the original traditional payment platform, and realize the unique payment business logic in the blockchain intelligent contracts.
PayYoda will integrate the wallets, tokens, payment mining and decentralized payment systems to form a decentralized platform that is compatible with the aggregated DeFi and other decentralized platforms, break through the credible certification channel between the centralization and decentration, activate payment channels for the application scenarios, such as DEFI, DEX, CEX, etc., and jointly build a payment ecosystem of PayYoda with developers and industry chains.
DeFi+ payment also shows its own strong industry innovation capability. So, I believe that the future development, value proposition, growth potential and innovative ideas of the DeFi+ payment will push the digital asset market to the next level. In the near future, the exquisite derivative products and tools of PayYoda will add a new layer of charm for the decentralized payment ecosystem that is young but also take a shape, and motivate all kinds of payment applications to reach the infinite imagination.
Daisy Lee: Marvelous! It’s exciting just to hear it. So, how is the current project going so far? What’s the next step?
Kendy: PayYoda ecosystem is growing day by day, and is concerned and recognized by more and more industry related people, investors and users. The advantages of PayYoda highlight with each passing day. The credit-driven ecosystem, openness, transparency and traceability, decentralized on-chain payment, secure transaction system based on the artificial intelligence and decentralized governance ecosystem, all of them point to the future success of PayYoda.
In 2021, PayYoda will continuously develop in the fertile soil of DeFi, cooperate with various financial institutions and entity industries, and build a co-construction, win-win, fair and just decentralized payment ecosystem!
On the other hand, PayYoda is a project with huge scale and significant application value in the future, and the project development has a strong correlation with the economic application value. PayYoda will be gradually launched by virtue of its unique Yoda Token mechanism based on its influence and contribution, motivate the ecosystem partners to participate in the operation support for the PayYoda payment network with the economic benefit, which will finally realize the goal of low cost and efficient operation.
Each YOT (Yoda Token) corresponds to the value at the time of launching, which is a real valuable “asset” and the digital token that has been implemented. With the credit establishment, asset circulation, merger and evolution of these asset owners, it will inevitably produce a “chemical reaction” with great value, and the corresponding is the long-term appreciation process of the issued YOT. Meanwhile, the influence and contribution value as required for each new YOT will increase.
YOT will list on HOTBIT exchange at 5pm (UTC+8) in January, 8th 2021. . It will list on various major transaction platforms in the future.
Daisy Lee: I want to start subscribe it right now after hearing that. Well, could you please explain the details of YOT subscription ?
Kendy: Certainly. The subscription limit of YOT is 700,000, and the locked position will be released based on 1% per day after launching. The first round of locked position is 60%, and will be released within 60 days; the second round of locked position is 50%, and will be released within 50 days; the third round of locked position is 40%, and will be released within 40 days; the fourth round of locked position is 30%, and will be released within 30 days.
The subscription will start at 14:00 from January 1, to January 7, 2021. There will be four rounds of subscription with limit quota, until the subscription is finished.The subscription was successfully finished yesterday, and it is 100% finished, we thank everyone who follows the YOT project and won’t let you down in the future.
Daisy Lee: Quite detailed explanation. Now, let’s proceed to the next session public Q&A.
@zzcuna: Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?
Kendy: We will be launching Payyoda’s own system in the future, which will support a range of applications. At the same time, Payyoda will launch a series of community events to enable more users to participate.At the same time, we have now reached cooperation with many well-known institutions in the blockchain industry, so stay tuned.
@LassitModulo: Many defi projects are emerging and what are the advantages of PayYoda over other competitors? Are there any plans to list on the best exchanges like Coinbase, Binance?
Kendy: PayYoda is more about technology adoption than any other project. We want to improve existing payment practices. List on the best exchanges? Of course, that will be part of our plan.
Daisy Lee: Thanks for being with us today. If you want to know more about PayYoda or have more questions about PayYoda, please check: