Semyon Gleym about Paymon platform, conflict with Apple and plans for the future

We know that you have a lot of questions: about our token, about the company’s future, about the partnerships, and much more. We chose the most popular topics, and today Paymon’s CEO, Semyon Gleim, will clarify the situation.

• What is happening to the token price and when will it grow?

– Our ICO ended not so long ago, and many well-known crypto-currencies, such as Ethereum or Ripple, took much more time to reach a positive dynamics. In our case, we had the positive dynamics from the very beginning, and then it was followed by a protracted recession, that still continues. I would like to say that this is normal: when marketing stops, there is less attention paid to the project. But not because the project is not interesting anymore — it’s just a natural course of events after the the ICO is finished. After the the product implementation we can expect a repeated growth of the token — especially we are waiting for the realisation of Hive.

Also we shouldn’t forget that many people took part in our ICO, about 2 thousands, and a lot of them came specifically for the bounty campaign. Their initial goal was to participate in the project (not so important which one in particular) and then sell the tokens. Meanwhile, all the major participants, so-called “whales”, are holding tokens. They are waiting for positive dynamics, waiting for technical implementation. I recommend you to follow their example and not to panic because of the unstable token price: it doesn’t affect technical development of the product. As well as the numbers on the Coinmarketcap website do not reflect the real picture.

• When the platform will be released?

- Just a few days ago we completed a closed beta-test, which was very successful: it revealed a small number of bugs related mainly to the front-end. We plan to open access to the platform at the end of September. Wait for it, guys, it’s going to blow your mind!

In addition, a global iOS update is planned for October. At the time we received a lot of criticism on iOS, it had more to do not with the technical part, but with the legal — we could not agree with Apple on the part of copyright. As you could probably notice, the Paymon app is registered on the account of individual developer Gleim Semyon (i.e. me). To be able to update the app, we need to have a legal address, certain licenses and arrangements — we are engaged in this bureaucratic struggle with Apple for two months already.

Fortunately, there is positive dynamics: we have received all the necessary documents and a permission to register as a development company. So, wait for the global update on iOS soon, it’s scheduled for October. I think it will amaze you, and I hope that you will use it.

After that, we are waiting for the Android-app layout, which, by the way, has been fully optimized (and is being optimized to this day). We are changing the design, the UI/UX — the full update will be in November.

After the Android release goes Profit layout. I can spill the beans here and share the good news: several stores are ready to sell their products for tokens, ETH and BTC. Thus we can expect that Profit will quickly find its users and get positive feedback. We plan to launch it in November.

After that we will have left only Hive and smart contracts. Hive wallet test went great: the best speed is 1/3 of a second. Few projects can boast of such speed — and perhaps we are the first guys with such results. Smart contracts are moving to the stage of closed testing during the next two weeks. In 2018, we plan to publish a fully assembled Paymon platform: simple, fast and convenient. We hope that you will use it with pleasure, and that the platform will unite the community even better than the ICO did!

When do you plan to start active marketing?

– As we have said many times, all our efforts are aimed at technical implementation. In fact, it’s not that difficult, you know: to conduct an ICO, buy a bunch of press releases, enter partnerships and shout about yourself from every corner, motivating people to buy the token. However, without the finished product all of it doesn’t make sense. Since we expect longterm and stable growth, high-quality technical development should stay beyond all this. This is especially important, given that with our big ambitions we plan to enter the top 10, and then the top 5 cryptocurrencies in the world. No marketing will give stable results if there is no product behind it. Now it will give us a pump for like a week, while stable growth of the token should be provided by a constant influx of real users. For this reason, I suggest you to wait a little longer until the product is implemented — after that the token will finally grow.

• How exactly the token swap will be done?

– There are not so many options: either tokens are converted 1 to 1 within the system, as we originally thought, or we make a hard fork of the network, when all token holders get coins dropped on any wallets. The second option is more preferable, because we save on commissions — and so do you. If we swap 1 to 1, we will have to send tokens somewhere and pay for that. And then they have to be sent back to us. And if you decide to convert the coin into a token again … in a word, most likely we will choose the alternative option. Concerning exchanges — they will just impose PMNC for PMNT.
We will not do it all in one moment, as, for instance, EOS did: they appointed a certain time to replace tokens, and those who missed this event were left out. In our case, everything will happen gradually: we will have reserved coins for those who forget or miss the swap on a set date for some reason. If you missed the swap — you can exchange tokens in a week, a month, six months, maybe even a year. One billion PMNT and PMNC — thus, there is always the same amount of money in the treasury.

• Will you have any new partnerships?

– I would like to remind you that recently we entered into a partnership with Cryptocean in conjunction with a German bank —I can not disclose its name yet— to issue debit cards. As you know, pre-registration for these cards is already open: in the future we will give your applications to Cryptocean. Then they will give us instructions for further action.
I believe that this is a strong partnership: we are interested in it strategically in terms of future monetization.

In the near future, we are planning some more partnerships with exchange services and small exchanges. Also, in prospect there are partnerships with ICO-projects that are interested in the Hive platform and plan to conduct ICO on our blockchain alternative architecture.
Nevertheless, I remind you that partnerships and marketing are secondary to the technical implementation. When the product is ready, there will be all the rest.

• What are Paymon’s plans?

– Paymon is now fully concentrated on the technical implementation, we expect global updates in the 3–4 quarter. For my part I ask you, friends, to test our platform actively and inform us about errors, if there will be any. Your feedback motivates us to grow and conquer new heights. We have the most ambitious plans. See you soon!

P.S. Friends, please do not hesitate to ask us questions in Telegram chats or our social media: if there is a certain number of questions, we will release such interviews about once in every 2 weeks.
Paymon team wishes you a good weekend!