AMA with Saros

Saros x PIP: AMA Recap

We had a pleasant Friday evening AMA with Mr. Albert Joo, a representative from PIP. A lot of insights about the project were shared, and a lot of fun was had.

Saros

Oct 1, 2022 • 7 min read

General Information

Project: PIP
Date & Time: 8:30pm (UTC+7), Sep 30, 2022
Host: Phat from Saros Finance
Guest: Albert Joo from PIP
Venue: saros.link/discord

AMA Agenda

⚡️Section 1: Warm-up | The project Introduction

⚡️Section 2: 5 Open-Ended Questions

⚡️Section 3: Live Questions from Community (5 best questions with 100 PIP for each).

⚡️Section 4: Quiz Time (10 Quizzes with 50 PIP for each).

Section 1: Warm-up | The project Introduction

Please briefly introduce yourself

Hello everyone, this is Albert Joo. I'm the researcher and product manager from the PIP team. I have worked in various industries, including music, games, and IT, and recently joined the PIP team to build the project.

So, you worked in the gaming industry before, how is it compared to crypto?

Well, the gaming industry is as amazing and interesting as crypto is, but they are focusing on content rather than the system and tokenomics.

Fortunately, the gaming experience made it much easier for me to understand Web3 gaming, and it is pretty interesting to see how the centralized gaming industry adapts to the Web3 system.

Please introduce the products that PIP provides.

Dedicated to increasing individual economic freedom, the PIP ecosystem provides a range of crypto-based goods and services that simplify Web3 payments and bridge the gap between the Internet and blockchain.

There are three main services available:

The first is PIP extension, it allows anyone to send and receive crypto payments on existing social networks, including Twitter, Twitch, Reddit, and Discord, with a few clicks.
The second one is PIP.me, a Web3 profile link that anyone can set up to receive payments and present their Web3 identity with integrating NFTs, websites, and social accounts.
And PIP Button, a GUI-based payment button that can be inserted into any website via a form of simple Javascript snippet. Users with their own website can create a button with various functions, such as donations, tips, and checkout, etc

Our team is currently planning to release various products and features that will support various blockchain platforms in addition to Solana and BNB Chain.

How big is your team at the moment?

Our team has 13 core members, and 3 part-time members. We have a total of 16 right now.

Section 2: 5 Open-Ended Questions

In the introduction section of your document, you stated that PIP will combine the information protocol (aka the Internet) and the financial protocol (aka the crypto). Can you please elaborate on that process and maybe give our community an example so we can relate to it?

OK! We believe that the blockchain is a ground-breaking technology that can be used for disseminating financial values across the globe just like the internet did with knowledge.

PIP products are powerful tools to build a global micropayment layer on the Internet. Individuals will be paid based on the international standard of economics with our services rather than the local economy or the unfair distribution policies of centralized platforms.

However, we do not build a service that completely replaces the existing social services. The PIP products will accelerate the future of global micropayments by seamlessly connecting the crypto-based technologies to existing platforms and infrastructure.

Would you explain further about the PIP button? How is the button made and used even if users are not registered in the PIP ecosystem?

Thanks for the good question! A PIP button can be created in one step and a few clicks by visiting the website. Users can easily customize every component of the button, including its function, style, and currency within the webpage.

Users can easily add buttons to their services or websites by copying and pasting auto-generated code snippets. They do not have to learn about the underlying blockchain technologies or complex authentication processes to add and generate the button.

Senders can transfer the token to others by just clicking the PIP button. They do not need to know the receiver's long wallet address or follow a complex transaction process.

The PIP button also supports QR code payments. No matter what devices you use, the button is available for both mobile and desktop.

Visit https://button.getpip.com/ to make your first button!

How can you ensure that the payment system of PIP is secure?

Thanks for asking 😊 The security of our products is already verified by Paladin Blockchain Security, one of the leading security audit companies in the industry. You can check the full report at this link.

While doing research about PIP, the PIP.ME function caught my attention. Can you give our community some insights about this function?

Love this question, been waiting for this 🙂

- PIP.me is a personalized Web3 page for every PIP user. You will automatically get your own PIP.me address when registering for the PIP ecosystem.

- PIP.me can be anything you want. It can be a simple way to receive payments, or a personal webpage with links, social media, and collected NFTs. It can be a simple method to monetize your content and talents.

I bet a lot of our viewers are interested in PiP’s reward farming system. Can you give us some basic information about how the system works?

Glad to answer this question! The reward farming system is an interactive token distribution system that rewards active PIP users.

Users who send any type of token other than $PIP will earn regular rewards with $PIP. The amount will be changed based on the amount they have transacted. This system will attract new users to use our services, and motivate existing users to be active in the community and platform.

Users can simply click the “Claim” button in the PIP extension to receive the daily reward. There is no strict rule or unnoticed lock-up, and even unclaimed PIP will remain. You can find more details by visiting our website.

And we are now having our first staking program with Saros 🎉Over 3M $PIP is being staked in secure and safe Saros. YAY!

Section 3: Live Questions from Community (5 best questions with 100 PIP for each).

I’m a little bit confused, how different is PIP.me compared to ENS domains? (From Troy#5117)

Hello, Troy! PIP.me is a Web3 profile website. The ENS domain only provides the address, but we provide everything you need to make and customize your websites.

Governance in this type of project is key but I did not find much information about its governance system. What will be the methodology or system that will be used to make important decisions regarding the overall ecosystem of the project? (From Dev123#8875).

We understand that Governance is a key, and the $PIP token is a key to realize it. We are developing various methods to maximize the utility of $PIP token, especially for governance and improving the quality of the ecosystem.

Hello Mr Albert Joo! I want to join the Staking program with Saros. But I don't know where to buy a PIP token? Can you help me please? (from BrightWin#6163).

You can only earn $PIP via a reward farming program. We are not listed in any of the CEX or DEX.

How do you ensure the security? Has $PIP passed the audit? (from Guanyu#0595).

We completed the audit with Paladin Blockchain Security! You can check in here: https://paladinsec.co/projects/pip/

We will expand Blockchain coverage of our products and release Creator Token, our next big product.

Additional questions were chosen:

Question: Do you think the presence of whales is necessary at this early stage, or do you intend to focus on smaller investors? How will you strike the balance between whales and small investors?

Answer: PIP never holds ICO/IDO and we never will, so there is no way someone can become a whale right now. We are keeping balance with our reward farming system.

Question: Revenue is an important aspect for all projects to survive and maintain the project/company. What is your plan and way to generate profit/revenue from tokens? In this regard, please explain your income model.

Answer: The main revenue model is transaction fees right now, but we will expand revenue options while adding new products and features.

Don't forget to visit our YTB channel also! https://www.youtube.com/watch?v=6MC1zGI_lmU

Section 4: Quiz Time (10 quizzes with 50 PIP for each).

1. What social platforms does PIP support?

A. Youtube, Facebook, Instagram

B. Facebook, Twitch, Instagram

C. Facebook, Twitch, Youtube

D. All social media platforms

2. What is a PIP tag?

A. Is a private key for PIP wallet

B. Is a social media hashtag

C. Is a social identity tag that functions as a payment address

D. Is a social media account system

3. What is the token ticker for this project?

A. PIMP

B. IMP

C. PIP

D. MIP

4. What wallets does PIP support?

A. Phantom, Metamask, Binance

B. Phantom, Slope, Coin98

C. Metamask, Coin98, Phantom

D. Phantom, Slope, Binance

5. What is the fee for sending NFT on PIP?

A. 0.1%

B. 0.2%

C. 0.3%

D. Free of charge

6. What if the receiver doesn't have a PIP tag?

A. The money is lost, sorry.

B. The receiver will receive the payments within 24 hours after installing PIP

C. The money will be sent back to the sender if the receiver does not install PIP

D. B & C are correct

7. Where do you install the PIP extension?

A. Apple App Store

B. Find a link on a website

C. Steam

D. ONLY from Chrome extension store

8. How many PIP accounts can be linked to my social accounts?

A. 1

B. 2

C. 3

D. As many as I want

9. How many social accounts can I link to my PIP account?

A. 1

B. 2

C. 3

D. As many as I want

10. How can I get help when I have a problem while using PIP?

A. Go on Twitter to create FUD for attention.

B. Contact with hello@getpip.com for help.

C. Visit official Discord of PIP to raise a ticket.