LBank AMA Recap with LYO
On 6 July we held an AMA with the LYO team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Mac here, I’m the CMO at LYOPAY, we are building an ecosystem of products that will benefit not only experienced crypto traders but also crypto newbies, we are keen to create products that will complement each other for our target audience to have more financial freedom, of course, all of these are made possible by LYO Credit token.
What is LYOCREDIT token?
LYO Credit (LYO) is the token created to work in the LYOPAY ecosystem of business applications.
You can use it to stake, buy and sell products and services, pay transaction fees with a discounted rate on trading, and for e-commerce, crowdfunding, card payments and much more.
You will be able to spend your LYO Credit tokens to pay transaction fees — between wallets, for purchases and withdrawals or in exchange trading.
Learn more about LYOCREDIT Token here: https://lyocredit.io/
What marketing promotions do you have that will increase LYOCREDIT token holders?
we believe that marketing is an essential part of our growth as an ecosystem, it’s not only about token sales but also teaching the newbies how cryptos and the LYO Credit work, the nice thing about our project is that we combine creative marketing with a good use case for each product in the LYOPAY ecosystem
Our team believes in a healthy mix of traditional and digital marketing. Our core marketing activities for LYOCREDIT are referral programs, bounty campaigns, and influencer outreach so we can cover our target audience in the right markets.
Also, we aim to establish co-marketing activities with projects being listed on LYOTRADE exchange, hence, we expect that this will bring more awareness about LYOCREDIT to crypto-savvy users. The LYO team is keen to convert everyone in other crypto communities into LYO token holders and LYO ecosystem users.
3. What are the target milestones for 2022?
2022 is a big year for LYO. We strive to develop our products that will comprise the core ecosystem of LYO. We have already launched LYOPAY, LYOTRADE, LYOWALLET, and LYOTRAVEL.
For the rest of the year, we aim to achieve the following:
1. Launch LYOMERCHANT as a means for businesses to accept crypto as a payment.
2. Promote LYOBANQ as the choice neo-bank for all crypto users, be it LYOPAY user or not.
3. Develop our own blockchain called LYOCHAIN so projects can also build using the LYO Credit token.
4. Are there any partnerships in the pipeline?
As mentioned earlier, we will establish commercial partnerships and co-marketing collaborations with projects listed on our LYOTRADE exchange. Aside from that, we also expect to create partnership opportunities for non-crypto entities to promote mainstream adoption for crypto. LYOTRAVEL will have an upcoming partnership with UBER soon. Watch out for more big announcements soon!
5. Are there other plans for 2022?
We’ll update our roadmap and announce big projects that will enhance the LYO ecosystem. I suggest you check out LYOTRADE and sign up to get your free LYO Credit tokens to get started! And of course, trade on LBank!
What stage of development are you in on your roadmap? What are the upcoming events that users should be aware of? What stage of development are you in on your roadmap? What are the upcoming events that users should be aware of?
Thanks for asking, right now, we are keen to launch LYOBANQ, a neobank that we will launch in EU, and eventually in other regions, other than that, we are about to launch LYOMERCHANT, it’s a payment gateway POS to provide our B2C clients a means to accept crypto as a payment from their customers
How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project?
We will launch an ambassador program soon and will have a presence in many target countries, we believe that local language and culture is instrumental in increasing engagement within our communities
My question: Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users towards your project? Is there any upcoming partnership that will brings non-crypto user and real-use case?
Another good question — one example is with LYOMERCHANT, one of our products in the LYOPAY ecosystem — so with LYOMERCHANT, we will be able to partner up with different B2C, and even B2B entities for them to accept crypto payments, it’s also an opportunity for us to explore more different industries where we can innovate and create new products.
What is your strongest advantage that you think will make your team leading the market?
Our strongest advantage is that we don't have one product to promote, it’s an ecosystem of products that LYO Credit token is fueling in order for our users to fully utilize the potential of our token, not only trading or staking it, but also using it in their daily life like LYOTRAVEL and LYOMERCHANT
Have you been audited? Have not heard you talk about that security of funds is what every investor craves for and plans to escape in case of insecurity if funds, scams and rug pull? How strongly built are your security put in place?
Hi, to answer your question, YES — we are audited by ZOKYO, eventually, we can do another audit with CERTIK