Thank you to everyone who joined AMA Blockelite x Walletreum on 20th October at 2 PM UTC I 9 PM UTC+7. Here is the recap for those who missed this AMA.
Our special guest today is Mr Xu , CEO & Founder of Walletreum
Segment 1: Introduce about Walletreum and Guest Mr Xu – CEO & Founder of Walletreum
Q1: Can you briefly introduce yourself as well as the Walletreum?
Mr. Xu: Hello everyone at BlockElite Community, 😊 I am Ting Xu, Founder/CEO of Walletreum. It’s an honour to be here today to have a chance to introduce ourselves and our product to this wonderful community.
First, I would like to give a little introduction about myself. I am an Entrepreneur since 2001 and has proven experience in financial services. I’ve been introduced to Blockchain since it’s early days and have been working as a trader and investor of some of the traditional IT start-ups in the market today. I have seen ups and downs of this cryptocurrency market and been through all the good and bad phases of this market, most importantly the bear market after 2017. That is when i had the idea to make something that can be helpful in such harsh market conditions, which takes me to introduce our project;
We are a group of passionate people who teamed up on a single idea, The idea behind the Walletreum was to build such a platform that secures users’ funds in a bear market. Then we started research & development on ALGON and started our journey towards Walletreum.Walletreum is an innovative and efficient crypto-asset management tool for a real-world application with Lending, Borrowing (Safe Credit), WALT Farming, OFF-Chain swapping with Zero fee (Inter-platform), and Solution to price depreciation for both lenders and borrowers in a bear market with the help of “ALGON” developed by Walletreum. Buy, sell, store, and pay with cryptocurrency whenever you want in banks or your non-custodial wallets. We want to ensure that people can conveniently use their digital assets for financial freedom in any part of the world.
Walletreum is now only one step away from launch and final release of the product is this week.
Thank you BlockElite Team for having me here today. Very exciting!
Q2: With the target “BEYOND LENDING – ROAD TO FINANCIAL FREEDOM”, what products will Walletreum bring to users? How are those products different from those already on the market?
Mr. Xu: Currently we have many features like Lending, safe credit and zero swap but Our main feature ALGON differentiates Lending/Borrowing from other platforms. Walletreum has connected the lenders and borrowers with ALGON to maximize the benefit in any market scenario in an automated way. Lenders lend the money to ALGON, and ALGON will return the lent amount with interest. On the other hand, the borrower takes the loan from the ALGON, pays interest to ALGON, and ALGON will repay the crypto-asset minus interest. ALGON will play the role of fund manager for both lenders and borrowers and secure the crypto assets of both price depreciation in bear markets.
❇️ SAFE CREDIT
Traditional Lending and Borrowing platforms offer collateralized crypto-backed loans with high rates, KYC, and liquidation in a bear market to maintain lenders’ balance. Lender offer loans and borrowers pay the APR plus platform fee with a fear of liquidation, which is quite unsafe for borrowers. Walletreum innovates the new concept of crypto-backed loan, i.e., SAFE CREDIT based on “ALGON” considering the facts that how the borrow can safely take a loan on their crypto-asset without selling it, without fear of liquidation, with a minimal APR, without KYC, and no depreciation of user locked crypto assets in a bear market.
Q3: What are the WALT token utilities? How can WALT token holders benefit for the long-term?
Mr. Xu: WALT is the platform’s utility token that provides additional benefits to our users. WALT holders will be able to enjoy a number of benefits:
1- Zero withdrawal fees.
2- Zero fees to exit your lending position before the lock period ends.
3- 20% Discount on APR for borrowers.
4- ALGON X3 package only available to WALT holders.
5- ZeroSwap feature is available only to WALT holders.
6- WALT farming is only available to WALT holders.
Blockelite Host: What is the difference between algon x3 and algon x2 ?
Mr. Xu: Every next module of ALGON is better and more efficient than the previous one in terms of risk management. ALGON X3 works on the full capacity to minimize the losses.
Q4: How does the Walletreum guarantee the security of user funds? What are the measures of any risk control?
Mr. Xu: We use a combination of Hot and Cold wallet to maximize the security of user funds. Walletreum’s admins are watching every single deposit and withdrawal manually to make sure that everything is working fine and secure. Our platform is live for more than 21 days, and many DDOS attacks we had faced, but they cannot shatter the system. We have many security layers applied for preventing DDOS attacks, and manual withdrawals are the team’s extra efforts, but we implement this system to secure the user funds.
Q5: What is the market strategy of Walletreum to get mass adoption by millions of users and using your platform?
Mr. Xu: Well first, we will bring up the platform’s affiliate system and different partnerships, marketing, advertisements, and approaches to local investors and globally. We build a system by keeping in a longer-term vision. We will be creating awareness through mass marketing, advertising on mainstream news platforms, and We will start partnering up with like-minded projects for more GrowthGrowth. There’s also an affiliate program in place. And a lot of features, the Walletreum team is working on and have planned for the overtime. Such as WALT farming, decentralized apps, walletreum fiat gateway, and payment card; we have a complete line up of the features that you can see in our roadmap on our Website. Although these are the only planned features, while there are many ideas we have that we will keep researching.
Alongside; we have a complete plan to introduce the walletreum’s project on different forums and awareness of the financial freedom that how our Algon and low-interest safe credit can give user benefits in many ways. We will start the ambassador program very soon in which we will target the middle east, Africa, and Asian countries on priorities; we will also attend blockchain and other fintech events to spread the word of walletreum to the mass, and spread the awareness about the walletreum’s top-notch features that how they will give the users financial freedom, they can access the nutritional standards of life with walletreum. Our safe credit yearly interest is meager. No other bank or financial system is giving a loan at a very low-interest rate without any fear of asset depreciation. Furthermore, our Algon can give users a healthy passive income yearly.
Segment 2: 5 best question from Twitter
Q1: Where is WALLETREUM road map now? Are all targets in accordance with the current road map? and what are the next steps that will be taken in the future? from @DavidSanta1704
Mr. Xu: Nice Question!
Currently we are one step ahead of our road map We have a staking Partnership with Ferrum Network, and it was indeed a significant step that we took after hours of lengthy discussions on it, whether we should go that way or not. The reason behind this partnership was to bring WALT staking to our users as early as possible, which would support the project immensely. Native staking was planned in early 2021, but now users will benefit from staking WALT. Our diamond and gold pool is already filled with in total 6 million WALT tokens that are on staked with upto 45% APY. We still have plans for launching our Native staking, but this decision is subject to change because we will be observing how well staking is working with the Ferrum network, and if we see that we need to launch our Staking platform, then we would surely do that.
Regarding future planning First, we will try to complete the features listed on our Roadmap as soon as possible. After that, we will keep implementing new features along the way while ensuring our platform’s maximum performance. If you can see that we have reached many milestones within a single month after the public sale, our platform’s second phase is live in which you can deposit, withdraw, and lend your crypto with small amounts and our final version of platform will be launched this week with higher deposit and withdrawals.
Q2: If we make loan funds provided by Walletreum, what is the maximum loan we can make? what rate is offered, and is there a limit when making the loan? from @dmsaly14
Mr. Xu: You can receive up to 97% loan on your crypto assets. Rate for Safe Credit is fixed at 4.3% APR. Although for WALT token holders you can get a 20% discount on the rate. There is currently no limit on taking the maximum loan.
Blockelite Host: normally i can only get 80%
Mr. Xu: But we are giving upto 97%. this is all depend on the market condition sometimes ratio will be less than 97%.
Q3: Currently ZeroSwap can only be used internally on the Walletreum platform, Will you add cross-chain transaction feature in the future?
So that it will make it easier for users to swap between internal platform and external platforms? from @R7Clover
Mr. Xu: Swapping is one of the most in-demand features in the world of Decentralized Finance (Defi), but users have to pay a high gas fee for every asset they swap. Most swapping platforms only support ERC-20 swapping, and cross-chain swapping is also a complicated process. ZeroSwap is Walletreum internal crypto-to-crypto swap feature that allows users to quickly and easily swap one crypto asset for another without paying any transaction cost generally users have to spend on traditional swapping platforms. Initially, BTC, ETH, BNB, EOS, WALT, and USDT are available to swap. Walletreum has integrated an easy to use UI for swapping to Buy and Sell crypto with order history. There are no fees for swapping assets internally on the platform. Users can keep swapping their assets inside the platform based on the current prices that Walletreum fetches from multiple oracles. All the swapping will happen in the internal pools of the platform with virtual asset-backed tokens. Walletreum saves tons of gas fees for a high number of swaps.
We have recently started voting to add more cross-chain tokens & coins into our platform which will be integrated soon.
Q4: Currently besides the staking , this entire project is centralised , any plans to make it decentralised in the future? If yes, how do plan to do so , will it impact your zeroswap and Algon fund manager aspects of the platform? from @emma89776993
Mr. Xu: Currently; there is a lot of HYIP in the DEFI world, but there is no extent of defi in a bear market. Our primary solution is to the problem of depreciation of assets in a bear market, which we believe is the main reason for small investors losing their funds. We are trying to make it easy for the general public to earn returns without much fear of losses securely. Defi platforms should be as safe as they are profitable. We are working on WALT farming development and integration. Our research and development team continuously explores new ideas and methods that will help Walletreum improve the system and make the system decentralized and more reliable.
Q5: Walletreum connects lenders and borrowers, but does this connection occur through specialized algorithms or must each user manually search and connect with other users depending on their needs and interests? from @pr1ncesscrypto
Mr. Xu: Walletreum has connected the lenders and borrowers with ALGON to maximize the benefit in any market scenario in an automated way. Lenders lend the money to ALGON, and ALGON will return the lent amount with interest. On the other hand, the borrower takes the loan from the ALGON, pays interest to ALGON, and ALGON will repay the crypto-asset minus interest. ALGON will play the role of fund manager for both lenders and borrowers and secure the crypto assets of both price depreciation in bear markets.
Let me add one more things.
It an automated process. Our ALgon auto connect lender’s and borrower’s. few scripts run manually at the backend but the whole process is auto performed
Segment 3: Live questions
1. What problems is Your project trying to solve to make it easier for Crypto users? Please let us know how evolving the roadmap is right now. What will happen this year and in the future?
Mr. Xu: The main problem our project is trying to solve is the Depreciation of assets in bear markets. Also our platform makes it easier for novice users to be still in profits with having much knowledge of the crypto markets as our algorithms saves them from losing their funds. About Roadmap, I would say our roadmap is going well and ahead of timeline as you can see we have already launched staking by partnering up with Ferrum Network. Although there are many more features to come that you can check in the roadmap on our website.
2. Can customers get support by Walletreum without delivering sensitive personal information? What information do you save on the system? Is it necessary to present the information? How does the system protect users from risks?
Mr. Xu: We don’t have a lengthy process. We take only necessary information like name, email address. we respect each user of its privacy. we have very active customer support. Only email and transaction details are enough to track down the issue
3. Walletreum Blockchain project, Walletreum Really very Futuristic ! But- Could you tell us The main role of Walletreum Coins in Walletreum Platform Ecosystem?
Mr. Xu: Token of any project is nothing without utility and we have a bunch of Walt utility in our platform such as
Zero withdrawal fees.
Zero fees to exit your lending position before lock period ends.
20% Discount on APR for borrowers.
ALGON X3 package only available to WALT holders.
ZeroSwap feature is available only to WALT holders.
WALT farming is only available to WALT holders.
4. What is your strongest advantage that you think will make your team leading the market? In contrast, what is your weakness? How do you plan to overcome it?
Mr. Xu: Walletreum has always been a community driven project from the start. We have always valued our community’s suggestions and needs and did our best to fulfill them. We believe that the model of our project is so unique and attractive that a little bit of marketing will bring a lot of userbase on our platform, yet still we will be focusing on pretty heavy marketing campaigns
The most vital point is Algon AI, which helps the users fund in a bear market, and the weak point is that our system is not weak, but still we are completely transparent, so I have to tell the community that we are not entirely decentralized, and the team is completely working on it make the system decentralized and open the API’s for the general public so users can use the Algon Ai by its own way
5. Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?
Mr. Xu: We agree on that point 100%. Our main target was to launch the project as soon as possible as it was already delayed from the time we had planned. We are still evaluating our options while being in contact with many prominent exchanges for listings and we will select the most safe and effective exchanges for our listings. Surely once $WALT is listed on any of the leading exchanges, it will be an automatic marketing for the project.
6. Could you please elaborate more about your tokenomics? What’s the total supply and what kind of plans do you have regarding the token unlocks in the future?
Mr. Xu: We carefully designed our token economics to support the project in the long term. You can check token economics on the homepage of our website in full detail.
The reason for vesting tokens for such a long time was to gain the confidence of our investors that we are here to stay. Also, we have raised enough funds to continue our project development for a long time, and there will surely be profits from Walletreum platform to support the project further on. So Yes, it is a pretty long time for vesting funds, but we are sure we won’t need those funds anytime sooner.
Might be possible that we will burn the team token in the future because our system is very reliable can capable of to generate enough revenue to feed the platform and bear all the expenses, even have a complete plan to provide a liquidity
Total supply is 50M, and current circulating supply is around 16M. we already submit our request to coingecko for to update our circulating supply as previously they have updated wrong circulating supply.
7. As we know, every succesful project has a few stories behind the scene, what’s the story behind Walletreum success? Are there any special prototypes or upcoming Walletreum updates that you want to show/share with us?
Mr. Xu: We have seen and were affected by the downfall of the markets in 2017 and that made us realize how important is something that can save the traders and investors in such bear markets. So we, a small number of team started working on the prototype and once we saw the results we moved to the production stage. There are many exciting updates that are upcoming and most important would be about listings and partnerships
8. Apparently, many blockchain projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is #WALLETREUM solving, and solutions are you provide?
Mr. Xu: We have a working and ready to final launch platform. Our product solves the problem of depreciation of assets in bearish markets for lenders and borrowers. $WALT is a utility token that will be completely integrated into platform and will hold a real value.
Thank you so much for having us here today. Thank you to everyone who participated in live segment.
And we’re happy to invite you to our Telegram to ask any questions in case we don’t have time today to answer yours http://t.me/walletreum
9. Where i can buy WALT token?
🔥We have locked 100% of Uniswap Liquidity (250k) in WALT/USDT Pair.
✅ Company/Team/Advisors/Marketing allocation locked in vesting contracts.
Blockelite Community thank you so much for overwhelming support on this AMA you guys have been generous hosts!🔥🔥
We are driven by our vision to serve the community and make using our product a very simple, frictionless, and delightful experience.
Thank you for joining today AMA!
Our AMA session is now over !!!
More information about Walletreum: