Crypto Society Ama Recap with Paycer, 18th November 2021
Building a cross-chain yield aggregation bridge protocol for DeFi and banking.
The Paycer team is developing a bridge protocol that aggregates DeFi and crypto services cross-chain and combines them with traditional banking services to create new user-friendly financial products and services available on an easy-to-use platform.
Bilo | Crypto Society
Big welcome to Team Paycer for our AMA
It’s our pleasure to have you with us today. I would like to welcome you here on behalf of our entire community.
Nils I Paycer.io
Hi Bilo, thanks for having us here 👋
Bilo | Crypto Society
Could we begin with a brief history of yourself and your team, and your roles at Paycer and what you were doing before Paycer?
Nils I Paycer.io
So, the last 5 years I was working at IBM as a Developer, Business Analyst and Software Architect mainly for cloud. I was part of huge international IT projects. I am one of the founders of Paycer and in the position of the CTO and doing many other tasks that also include marketing at the moment.
Bilo | Crypto Society
I’m sure you are :). Always the case, isn’t it? LOL
xHelge I Paycer.io
I started my career in tax advising before starting in big industrial enterprises like ABB and Cewe Color (Europeans biggest digital foto finisher) as head of human resources. In 2018 I started my own real estate business HPI Consulting and in 2020 co-founded webrigade. Simultaneously I work in the public sector with a focus on innovation strategies and economic development. At Paycer I work in the strategic field and take an eye on the legal matters including risk management. Joined with the CEO (Richard), I also take care of accounting and administration.
Nils I Paycer.io
So, Richard is on a plane now and his connection is quite bad, he might also send his answer.
Bilo | Crypto Society
Noice — also many hats 🙂
ketsuoI Paycer.io
I have been a developer since 2000, so I have over 20 years of experience in developing software. In 2020 I founded my own web development company. Before Paycer I worked as an IT freelancer for about 8 years. During this time I worked for many different companies and industries and could build up a lot of skills. Now I am the CEO of Paycer but still do quite a lot of technical tasks.
Nils I Paycer.io
Ah there he is 👋
Bilo | Crypto Society
Pleasure and happy to have you three with us today
ketsuo I Paycer.io
I am on a plane right now, they have WiFi but it is very slow 😉
Nils I Paycer.io
More team members can be found on our website:
Bilo | Crypto Society
Can you tell us about why you thought Paycer needed to be built and what problem it solves?
xHelge I Paycer.io
Presently, people are losing their wealth to inflation and because there is zero interest for money in bank accounts. In Germany you must even pay penalty interest if you have over 50k EUR. DeFi can provide high interests but at the moment DeFi is mostly unregulated and too complex. We are working on an easy and regulated product. In DeFi you can earn high yields and it won’t be a big challenge to provide interest rates to retail clients.
Bilo | Crypto Society
Very interesting. Thanks. Looking forward to learning more in this AMA.
How did Paycer start?
Nils I Paycer.io
Since we are active in the ICO market, we saw the high yields in DeFi and the low interest in banking. We thought why don’t we start a project ourselves? We already had a dev team; we had a company, and we also had the knowledge. Plus, we also firmly believe in blockchain technology. Then we started working on Paycer and haven’t stopped since then ;-)
Bilo | Crypto Society
Love it! Thanks for sharing
How would you describe Paycer if you were talking to someone unfamiliar with digital assets?
xHelge I Paycer.io
Paycer is a platform that allows users to earn interest on invested money. The interest is generated in a parallel decentralized finance market on the internet.
Bilo | Crypto Society
Excellent. Thanks
What chain is Paycer built on and why did you make that choice?
Nils I Paycer.io
We are currently building our smart contracts on ERC20. I would say 80% of all DeFi protocols or more are built in ERC20 / Ethereum. But currently the gas fees on Ethereum are not sustainable especially for small investors which would make our platform useless for this user group. That is why we have chosen to use Polygon Matic to ensure more affordable transactions.
But we have also been looking into Avalanche for quite some time 😉
Bilo | Crypto Society
You just answered my next question: Is Paycer interoperable and if so on which chains?
Lol
Bilo | Crypto Society
You answered my next 2 questions. My other question was: Why is it important in your view to have this interchain operability?
Nils I Paycer.io
Today only one chain is not enough to remain in the market. Therefore, we will include as many chains in our ecosystem as possible. That means our token will be deployed on BSC, ETH, Harmony, Avalanche etc. in the future.
The final Paycer product will be a CeDiFi platform. We have the possibility to consume different blockchains and their DeFi protocols from one central backend system. This is a lot easier than doing interchain fully decentralized.
Bilo | Crypto Society
Very smart but then again, I’m not surprised as I read up on your project and was quite impressed with your setup 🙂
Nils I Paycer.io
Thanks, 😉👌
Bilo | Crypto Society
What is the Paycer token used for? Can you describe the Tokenomics?
xHelge I Paycer.io
The Paycer token is a utility token and used as a bonus program. We have four different loyalty tiers on the platform so you can reduce your fees, earn more interest on investments, or earn additional staking rewards. You can also stake the token. We will also provide liquidity mining. Paycer plans to buy back PCR tokens with a part of its revenue in the future.
Nils I Paycer.io
Ticker: PCR
Type: ERC20
Use Case: Utility Token
Maximum Supply: 750M (750,000,000 PCR)
TGE Supply: 475k (474,885 PCR)
Private Sale: 7%
Pre-Sale: 4%
Public Sale: 5%
Team: 10%
Vesting: — daily release
Utilities: Voting Right, Staking, Liquidity Mining, Loyalty Tiers, earn more Interests, reduced Fees, earn more Rewards, Token Buyback
Also 30% for staking and 20% for liquidity mining 😉
Bilo | Crypto Society
Very informative and on point. Thank you!
Is Paycer disruptive and if so, how?
Nils I Paycer.io
Good question 😉Paycer will bring DeFi to retail clients and it will also actively work on DeFi regulation with the authorities. This can be disruptive for the finance sector.
xHelge I Paycer.io
I like to add: There are currently very low or no interest rates on bank savings. This is a big economic problem that we want to solve for retail clients. This can become a real disruptive story. When we have the Paycer platform live and we gain a lot of customers, this will likely cause banks to lose some liquidity and their business model to be questioned.
Bilo | Crypto Society
Very true
Poor banks, Hahahaha
😁👍
Tell us a little about your four pillars:
Arbitrage
Staking
Farming
Lending
Nils I Paycer.io
That’s a tricky one 😉
Bilo | Crypto Society
Also known to very smart individuals like me as ASFL
Nils I Paycer.io
These 4 pillars are representatives for different investment strategies in the DeFi area that Paycer will use to generate interest for customers. The Paycer Protocol consists of several smart contracts and some backend services. That will split investments over different DeFi products.
I can also go into more detail on each one 😉
Arbitrage:
In the decentralized world, we see many opportunities to achieve arbitrage profits. There are multiple DEXs around where the prices differ a lot. But the identification of arbitrage opportunities is slow, difficult, and expensive when realized on-chain. We will analyse arbitrage opportunities with a centralized backend system that offers higher performance.
👀
Staking:
Paycer investment-pool -> split -> swap -> stake tokens -> get staking rewards -> re-stake -> pool value increases -> interests are calculated based on pool value (automated with smart contracts).
Farming:
Paycer investment-pool -> split -> swap -> provide liquidity -> earn transaction fees and reward tokens -> calculate interest.
👨🌾
Lending:
Paycer investment-pool -> split -> swap -> supply liquidity -> earn interests -> distribute them to investment pool
xHelge I Paycer.io
2. Paycer Protocol
xHelge I Paycer.io
To Go deeper: Detailed info can be found in our whitepaper:
https://paycer.gitbook.io/paycer/documentation/whitepaper/2.-paycer-protocol
Bilo | Crypto Society
Thanks for the explanations — Much appreciated and helps explain the extent of your protocol to our readers
Nils I Paycer.io
Whitepaper has a lot more details 😄
Bilo | Crypto Society
What are the advantages of depositing Fiat to Paycer?
xHelge I Paycer.io
Paycer will provide different risk profiles and let users earn stable interest rates with overall reduced risks.
- Paycer aggregates different investment products on one platform
- Reduced transaction fees
- Have an easy entry to the DeFi market
- Reduced complexity
- No interacting with different platforms (e.g exchanges).
Nils I Paycer.io
- plus, we are also working on regulated investments
Bilo | Crypto Society
What are you currently working on, and can you describe your future roadmap?
Nils I Paycer.io
We are currently working on our investment strategies that split investments into different DeFi products but also implement automated risk checks and a rebalancing mechanism to stabilize interest rates.
xHelge I Paycer.io
Very Important point!
Bilo | Crypto Society
Sounds very complicated. Nice to have professionals doing it for me instead my having to try 🙂
Nils I Paycer.io
Regarding the Paycer protocol, there is a lot of other tasks 😀
xHelge I Paycer.io
Our Roadmap is:
1. Paycer DeFi platform Testnet launch
2. Paycer DeFi platform Mainnet Launch
3. Add on- and off-ramp and crypto custody to enable direct fiat investments
4. Develop Paycer CeDeFi platform and legal framework
5. Launch Paycer CeDeFi platform for retail clients.
🚨
Bilo | Crypto Society
When will Paycer be up and running?
Nils I Paycer.io
TGE will be in December, staking should be in place soon after TGE. We also plan to get other DeFi functions like investing, liquidity mining and our swap into operation in early 2022.
Bilo | Crypto Society
So soon. So exciting!
What players in the blockchain world have you partnered with?
xHelge I Paycer.io
Paycer will announce some partnerships soon. We are already planning and in talks. But currently our focus is on sale phases and fundraising, then in Q1 there will be more focus on partnerships again. However, we are already in talks with industry leaders such as Chainlink.
Nils I Paycer.io
It takes a lot of time in the background to drive real partnerships that are more than marketing. We have talked to several companies at the blockchain events in Lisbon and have many contacts with whom partnerships can be formed. 😉
Bilo | Crypto Society
Looking forward to hearing more on this
Can you please give an overview of your governance protocol, and how it works?
Nils I Paycer.io
The Paycer token will allow token holders to vote to influence the product roadmap and the implementation of new futures etc. The average token balance during the last seven days will be the calculated voting weight of someone’s wallet.
Bilo | Crypto Society
If there was one thing you could hope to see Paycer achieve next year, what would it be?
xHelge I Paycer.io
That could be a partnership with a bank to co-use their banking license. Then Paycer can offer its CeDeFi platform next year. Two people of the Paycer team are working dedicated on partnerships with banks. (Hermann Neunaber and me).
Bilo | Crypto Society
I’m sure you will achieve your goals!
Nils I Paycer.io
We were in talks with a few banks already. 😉
xHelge I Paycer.io
Such partnerships are also very important for paycers brand value: trust!
Bilo | Crypto Society
Is there any exclusive breaking news about Paycer that you could share with us here today?
Nils I Paycer.io
I can share with you that our PCR pre-sale will start at the end of November and the public sale will start mid-December. There will be announcements on Paycer’s Twitter account 😉
👀👀👀
Bilo | Crypto Society
Do you wish to let us know anything else that was not covered in the questions above?
xHelge I Paycer.io
Paycer Protocol (@paycerprotocol) | Twitter
The latest Tweets from Paycer Protocol (@paycerprotocol). Building a cross-chain yield aggregation bridge protocol for #DeFi and banking for mass adoption. $PCR. t.me/paycerprotocol
Nils I Paycer.io
I can also share that we could raise over 600k USD in our private sale in a self-hosted way with limited marketing 😉
Julius
Could you reveal with which banks collaborations are planned?
Nils I Paycer.io
We are currently trying to work with the Solaris Bank, a baking as a service provider. Helge and I had an interesting call today regarding this topic.
We are also in contact with fintechs which are financed by Peter Thiel.
puzzle123
Thanks for the AMA. Was very interesting
Where does the name “paycer” come from?
xHelge I Paycer.io
Paycer is a creation of pay and pacer (a special racehorse)
It’s our registered Trademark.
Julius
Are the interests/APYs in your App guaranteed? Are there apys with different risk/reward ratios?
Nils I Paycer.io
They will be calculated in real time but can be rebalanced, also with some Paycer token allocation.
Julius
What are your main advantages against your competitors like anchor protocol?
Nils I Paycer.io
We are already working with finance authorities and are not a hidden project.
Very important — because the base of our business must be total legal and transparent.
For Ex: Deposite solutions
We are in contact with the German BaFin via a specialised Lawyer-Team (Rödl and Co.)
Helge also studied law and brings a lot of knowledge into the Paycer team.
We take a big eye on legal matters because this will make the difference in the future with all our competitors.
puzzle123
Is there a paycer Credit card planned?
Nils I Paycer.io
Once the partner bank is in place, big yes!
puzzle123
How do you plan to attract users that haven’t been in crypto before?
Nils I Paycer.io
With marketing in mainstream finance media.
Buss;Nicole
Will you be able to work with other European banks?
xHelge I Paycer.io
That’s one of the advantages of the EU — there are no boarders.
DJTown
Are you positioning yourself as a bank of the future to entice non crypto people? Making the interface non crypto like?
Nils I Paycer.io
Paycer will not be a bank, we will offer DeFi with your own wallets but also CeDeFi for users that never used crypto before. For them the interface will look a bit like a bank.
For retail clients we will offer a simple fiat entry point.
DJTown
Do you see a time soon that non crypto people will not be able to tell that it is Blockchain underneath?
Nils I Paycer.io
Even though we love blockchain technology, it is a backend technology and for a good user experience it should be hidden from the user. A user only ever notices the backend when something in the frontend is not working well.
xHelge I Paycer.io
I think the magic of Paycer is to bring all the points (Banking, Blockchain, Legal etc.) together — in the Right way and possibly for the First time
One point we didn’t mention is the deep expertise in crypto of our people at Paycer — they have a great knowhow and will bring it to the “normal” people 😎
Nils I Paycer.io
For retail clients even online banking can be a challenge from time to time. 😉
xHelge I Paycer.io
Thank you for giving us the opportunity to talk about Paycer in such a great community today. Thanks a lot for your time! Would be cool if some of you would follow us on Twitter: https://twitter.com/paycerprotocol
Nils I Paycer.io
Thanks for having us here 😄👌
👉Relevant Links
⚜️ Paycer Website: https://www.paycer.io/
⚜️ Paycer Telegram: https://t.me/paycerprotocol
⚜️ Paycer Twitter: https://www.twitter.com/paycerprotocol
⚜️ Crypto Society Chat: https://t.me/cryptosocietyy
⚜️ Crypto Society Announcements: https://t.me/CryptoSocietyyy
⚜️ Crypto Society Twitter : https://twitter.com/cryptosocietytg
