Welcome to the Schain Wallet $SCHA Exclusive AMA with The Gem Hunters.
We would like to thank the XTAKE team for kindly sharing information on there project with our community. Before commencing we would like to share some basic information on the project to give people a better idea before the Q&A begins.
Schain Wallet is a mobile DeFi wallet designed to help people stake and earn profit, store and transfer coin & token with security and low fees. Some of the features Schain provide are, Stake tokens, timely payments and Payments that are able to be sent in ANY Ethereum-Based token, from Ethereum, to TUSD, to DAI and beyond!
Q1. We would love to know who the team is behind Schain, please tell us more about your backgrounds and how you came to form Schain wallet!
We are an anonymous team, its not public information right now. But we do plan to reveal all the information will visible after main product launch.
Q2. Can you give us some information on the project from a development perspective, i.e, was the sale round successful? What have you actually been working on, how has the progress been so far and are you on schedule?
We had a successful presale with hardcap 150ETH and our mission is to create a stable dynamic income for investors through the form and become the world's leading crypto-currency payment giveaway. The goal of Schain wallet is to reach 100.000 users by the end 2021.becoming the Dapp with the most participants in staking. Target total revenue at the end of 2021 reaches $1 million
Q3.The DeFi scene has certainly heated up, investors are looking for the next hot project, so what makes Schain Wallet stand out amongst the rest?
What makes Schain wallet stand out amongst the rest is that, after we took researched we found that most of Defi applications are run on website platform which means only staking through website which is difficult for most of users because most of them do not have computer. Schain wallet understand and how Dapp are allows users to be able to perform staking on mobile platform like ( android, IOS) at any time
And another, we believe next trend after Defi is Payment and Gateway. so that, we will integrate this function to our wallet and connect with many traditional retail company to use our wallet.
Q4. One of your use cases is time-released payments, can you tell us exactly how it works and why that will benefit investors using the service?
One of the usecase we choose to apply is employee's salary calculation. Using Schain wallet businesses will no longer have delayed salary for employees. We will create a smart contract with the payment function on time.
Q5. Another one of your upcoming catalysts will be the ability to stake tokens, can you give us an insight to how investors can earn money using your platform, what will the annual yield be and will there be a lock up period?
Yes, you can staking at anytime. On staking time, we have periods of time including 7 days, 1. Months, 3 months, 6 months and 1 year and interest of 7 days is 0.15% while 1 months interest is 1% and 3 months interest is 3.2% . Detail in our whitepaper on https://schainwallet.com/whitepaper
Q6. Can you please give us a brief insight into the tokenomics of $SCHA, what features are available and tell us why holding $SCHA will be so beneficial for investors?
SCHA token ecosystem:
1.Reduced transaction fees: All transfers and recipients using SCHA as fees will be reduced by 50% of transaction fees. For example, you make a ETH transfer from wallet A to wallet B and it costs $10 transaction fees. If you use SCHA to pay transaction fees, it only costs $5 (the value of the corresponding token)
2.Payment: We are aiming for the Asian retail market to integrate the payment gateway functionality on Schain Wallet. All customers using the Schain Wallet payment function need to purchase SCHA tokens. In additional there will be incentives when taking SCHA for payment such as 10% discount on product value.
3.Bring value for investors: use SCHA to staking with attractive interest rates that generate daily dynamic income. As the supply of tokens will diminishes over time, investors holding SCHA token will also get a profit.
4.Loyalty program: When customers use SCHA tokens for payment, this amount of SCHA will be saved to the database to earn points. When the loyalty function is launched, the system will base on the points data that will divide customers as different tiers: DIAMONDS, GOLD, SILVER and BRONZE. In each level, members will enjoy different incentives. Offer details will be update in the next version of whitepaper.
Q7. Can you tell our community what you have in store for the next 6 months regarding new exchange listings, partnerships, updates and any other relevant catalysts?
Live payment, integrate payment with retail companies, multi assets support. We will list big exchange when product launch on December 2020.