nobank AMA RECAP
Hello Everyone ! Welcome to our 23th AMA (Ask Me Anything) with nobank. On 9 of September 2022, CryptoSpartans had a live AMA session with Mario and Kristina . In case you missed it here is the recap.
AMA Summary:
Segment 1: Questions for nobank Team
Segment 2: Twitter Round Question
Segment 3: Live Q&A.
The transcript has been edited for clarity.
Segment 1: Questions for nobank Team.
Priyank Gupta l HOST
- Can you please introduce nobank to the community ?
Mario l nobank
nobank is a next generation non-custodial wallet. it is a smart contract wallet that allows super simple investing and interacting with digital assets.
nobank integrates a number of dapps in its app to make investing super simple. Our smart phone app (iOS & Android) lets you trade on 9 DEXs and gets the best price for you.
FYI — it can be downloaded in any appstore already NOW! Just search for “nobank” and download it NOW :)
Additionally, we support walletConnect to explore Web3 and have a advanced security set up without a seed phrase — but with social recovery (through guardians) or authenticator apps.
Last but not least — nobank does not charge any trading or gas fees — it is completely FREE😍😍😍
Lucifer Morningstar l HOST
2. Security is a very important concern in the wallet. How do you ensure that your wallet is safe?
Mario l nobank
It is true that security is one of our key focus areas. We do thorough testing internally, have tested the app through a closed BETA with >500 testers and are also working with professional security companies to get a 3rd party look into our security set up as well.
Actually, we also hired a penetration testing company to hack us :)
So far, this has been very successful for us. But this is an ongoing focus for us.
Also, we are currently evaluating the various auditing possibilities that are avaialble.
Priyank Gupta l HOST
3. what are the future plans in terms of development ? Any roadmap?
Mario l nobank
In the next couple of weeks, we are going to launch 3 defi investment recipes that allow users to buy 30+ tokens with one click in a fully diversified and market-weighted set up. Fully non-pooled and non-custodial.
There are also plans for yield bearing recipes that build on existing defi protocols (such as Curve)
Additionally, we are going to continue working on our NFT set up, increase security further and add more DEXs on the trading side..
Also, expanding to further blockchains is on the roadmap. And we want to get to the first 10'000 users by the end of the year — so happy for your help there 😍
Segment 2: Twitter Round Question:
- @Melon0044 : Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Mario l nobank
Our nobank BETA app is live the Apple and Android app stores and is already used by more than 1000 users — and after today, hopefully many more ;)
Our app is fully functional:
-You can buy, sell, send & receive digital assets
-You can secure your nobank wallet using 2FA or social recovery (i.e. guardians)
-You can add trusted addresses as friends to easily and safely transact with them
-You can use WalletConnect & you can send, receive and display NFTs
-You can buy first DeFi products — this selection will be greatly expanded in the coming months
-And of course there is much more to come
So from that perspective, I would tend to say that we are the opposite of many other projects that do a lot of shouting, shilling and underdelivering…
2. @Don_vai_1 : Non-crypto user is very important for mainstream adoption. #Nobankfinance 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?
Mario l nobank
We do this by making Web3 accessible for everyone: we remove barriers when it comes to knowhow, technical skills and finances.
Our investment recipes are one way of doing this, our truely simple onboaring (without a seed phrase) as well.
We want to make nobank a safe space where users can get familiar with Web3 and discover its many benefits!
We have some interesting partnerships, both in Web3 and in the traditional economy: We have just launched a blockchain-based loyalty program with a chain of sport stores here in Switzerland, using tokens and NFTs with utility for customers.
this can be expanded to other use cases such as ticketing etc..
and in the end, we believe that users need a wallet in the future of the internet — which will be blockchain based and user empowered! And we will continue working on our wallet so that people dont even know that it is a wallet, but just have a seemless expereince :)
3. @AMA_Expart_1 : A common problem is that nowadays most investors are only interested in initial profits and ignore long-term benefits! So Can you give them Some reasons Why they Should buy and hold your Tokens in the long term?
Mario l nobank
Unfortunatly, many projects do a lot of shouting and shilling, selling a token on the users expenses and just cashing out.
We do have a token, but it is not listed. Meaning that you cannot buy it and you cannot sell it. As such, we use the token to identify our initial supporters. There will be benefits coming for users who have our token, but they will be well thought through and not just a hype :)
So if you are here to hype our token — dont bother, it is clearly not worth it.
4. @Clipz0 : When I choose to use a DEX, I always care about fees, so how about fees on @nobankfinance to compete to other DEXs?
Mario l nobank
First of all, we are not a DEX, we integrate DEXs in the background.
What we do then, is calculating the best trade available accross these DEXs and execute there. We do not charge additional fees.
As such, we are probably one of the cheapest places to trade digital assets. However, we are also not a trading platform — like Binance. If you use nobank, you will have a great user experience when investing into digital assets, but without the leverage, lending, hypeing, etc :)
5. @Supar_For_1 : Nowadays language is a big barrier to many crypto enthusiasts, well, we all know many projects support the English-speaking community. So, are you aiming to use local communities to raise more awareness of your project among these people in different countries?
Mario l nobank
Yes, we absolutely are! As we want to onboard people who are not familiar with crypto yet, we want to make the topic as accessible as possible. Language & communities is a big part of that . So we want to create local nobank communities as well — if you would like to support us with that for example by helping us manage discord channels etc. please reach out!
We want to build an active community and love to welcome new members to it!
Segment 3: Live Q&A
Q1. @Abdul_Rohim08 : Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
Ans : Our app is truely simple — just download it and check out our sign up process. We explain what is going on while signing up.
You can follow nobank here:
https://twitter.com/nobankfinance
https://lnkd.in/gjRrdDqk
https://discord.gg/gHeHD4fAqK
https://instagram.com/nobankfinance?igshid=YmMyMTA2M2Y=
Q2. @DonVai11 : Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
Ans : We are a global project and are open to serve ALL markets! You can use nobank in every country and we have users from >100 countries already.
Q3. @Boss1111x : How strong is your team? Many projects starts with good impression and later abandoned the project. What makes your project different than others? Can you Please share with us?
Ans : We are a team of 6 full time, fully dedicated people working on nobank. We are actually a startup company and were able to raise 1'400'000 USD from private investors and an american VC fund from Silicon Valley. As such, we are well-funded, fully dedicated and are executing on our long term vision.
Q4. @MamunRana23 : Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
Ans : We are partnering with:
- a Silicon Valley VC for current and future funding
- DEXs and GameFi for using our wallet
- NFT marketplaces for using our wallet
- “Real life” companies that want to work with NFTs or tokens and need a truely simple wallet to do so :)
If you have other ideas and partnerships that could make sense for us — let us know!
Q5. @AyeshaSiddiqa01 : What’s your main focus right now,can you tell me?are you focused on the community or market/Exchange or the products?
Ans : We are focused on two things :
- Growth — so marketing our product (which is already live..)
- Buidling our product is always a focus and will never not be a focus.
Thank you everyone once again for participating in this exciting community AMA! It was our pleasure to host AMA with nobank .
