Lead Wallet x Satoshi Club AMA Recap from 19th of October

Lead Wallet x Satoshi Club AMA Recap from 19th of October

Today we would like to tell you about the “world’s simplest crypto wallet and DeFi access”. On October Satoshi Club had an AMA session with our friends from Lead Wallet. It was a very exciting time and full of information , our guests were @francisobasi1 (CEO) and @Donnie_Lead (Co-founder).

The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.


PART 1, INTRODUCTION AND COMMUNITY QUESTIONS

Mary | Satoshi Club: Hello, Satoshi Club! We are happy to announce our AMA session with Lead Wallet! @Donnie_Lead (and @francisobasi1) welcome to Satoshi Club. 😀

Donnie | LEAD: Good morning/afternoon/evening, everybody.

Mary | Satoshi Club: Please, tell us more about yourself and how did you start with Lead Wallet?

Donnie | LEAD: Alright. I have been in the crypto industry since 2017 and worked professionally since 2018. I started by being a community manager for various ICOs in early 2018, then I kept learning and doing a lot of different jobs (all in the crypto realm).

We started with the idea of creating Lead Wallet since Q3 2019 and it kept expanding since then. We finally had the chance to run a presale with LID protocol last month and we are here now.

奥巴西 Obasi | Lead Wallet: …I’ve been in the crypto space since 2016. I’ve worked for different projects right up to when myself and the other core team members teamed to start Lead wallet in 2019. It has been a slow but steady ride since July 2019. 😊

Q1 from Telegram Username @Soul_viper

How many developers are working on the project?

奥巴西 Obasi | Lead Wallet: At the moment we have 2 Backend Devs, 1 frontend, 1 smart contract Dev (who happens to be our CTO) and 1 Android developer 😊. Hence, we have a total of 5 Devs working for Lead wallet at the moment 👍. Before the end of the year we will onboard at least two more Devs which will include an iOS developer and a Web3 developer.

Mary | Satoshi Club: I like this numbers) As i understand they were also working before you conduct pre-sale? Were you self-funded till that date?

Donnie | LEAD: Several of them have been working since before we got funded. but not all of the devs. And yes, we were self-funded before the LID presale.

奥巴西 Obasi | Lead Wallet: Ummm. Not really. Two joined us right after the presale. 😊

D. | Satoshi Club: Awesome! and you have a very multinational team? is that right? as your site says – The Lead team members and advisors are globally distributed with members based in Nigeria, India, Singapore, Indonesia, Russia, China, etc.

奥巴西 Obasi | Lead Wallet: That’s correct. At the moment our team members are from India, Nigeria, Russia, China, Indonesia, and one of our Advisor is actually from the UAE. 😊

Q2 from bitcointalk user elissa

I’ve watched your demo. I must say that you offer an impressive amount of services through your mobile app, including multisender. Is the multisender limited to ethereum blockchain or we can use it for tron, btc and other blockchains?

Let’s watch it again https://www.youtube.com/watch?v=ML7uOJAETpc&feature=youtu.be&ab_channel=LeadWallet

奥巴西 Obasi | Lead Wallet: Sure! Thanks for the feedback on our demo video. Before I answer the user. I just want to emphasize that every service and product we offer is aimed at offering multi-blockchain solutions. That’s why our staking feature, for instance, is going to be delivered as Staking-as-a-Service whereby users of our App can stake any PoS coins directly in our app, and the associated rewards with little or no fees charged.

To answer the user’s question, our multisender will support multiple blockchains. The goal is to simplify how companies and groups exchange values via the blockchain using cryptocurrencies. 😄

Mary | Satoshi Club: Will it support different blockchains from the first day?

奥巴西 Obasi | Lead Wallet: Yes! But of course, it’s not going to be released in the Public Beta version that will go live this October.

This is our pre-beta app test video: https://youtu.be/QNLhtojdbWE

The target for the Public beta is to have a working:

  1. Wallet
  2. Swap
  3. And web3 integration for Defi Access. In the future, this will be upgraded to meet our goal of DeFi Access simplicity 😉

Mary | Satoshi Club: Will Public Beta be available for everyone?

Donnie | LEAD: Yes. We will make it available on google play store. Everybody will be able to download it with their phone. Of course in the future release we will also tap into the iOS market and we already have plan to make the wallet available for desktop. stay tuned for it 💪

D. | Satoshi Club: What can you say about fees for swapping assets? are they will be cheaper compared to other similar wallets?

奥巴西 Obasi | Lead Wallet: Yes! We are aware that some wallets charge as high as 0.2% as fees. However in our case max fees will be 0.15% as fee.

However, our fee system is structured in such a way that allow users pay as low as 0.07% in fees depending on how often they use the swap features. And active swappers will occasionally receive airdrops in LEAD for being awesome 😍

Mary | Satoshi Club: And what i will be able to do using DeFi Access?) We love DeFi.

Donnie | LEAD: We will allow you to use the wallet app to browse DeFi websites and it will slowly evolve to include much more direct integration to our app. For example, if you look at how zapper.fi works to access popular DeFi protocols and liquidity pools, we will have similar feature, but with much more organized UI.

奥巴西 Obasi | Lead Wallet: About DeFi Access. We want to be able to prevent users from visiting phishing links when the try to access their best DEFI and NFT Portals. Hence, in other to achieve this we will build all the popular blockhain Dapps on top of Lead wallet. Hence, if Lead wallet has the Dapp supported then your funds are Safu 😊

Q3 from Telegram Username @cengizhantekin

Lead Token is ERC20. What about Lead Wallet, will it support only ERC20 tokens or all other ones also?

奥巴西 Obasi | Lead Wallet: As you can see from the video, we already support BTC, dash, doge, ltc and eth.

Mary | Satoshi Club: Ok, did you have any doubts on which blockchain to create your own token?

奥巴西 Obasi | Lead Wallet: Na! We knew that ERC20 will be it from the beginning. However, we’ve always been open-minded towards creating our own blockchain in the future. Especially if it will help us in delivering better services to our users and customers 👍

D. | Satoshi Club: So only these 5 by now?

奥巴西 Obasi | Lead Wallet: Yes! We might two more coins on public beta. If not, in November, we will add at least 5-10 new coins including but not limited to Polkadot, Near, BNB, etc

D. | Satoshi Club: And i have 1 questions about swapping again – is there will be a minimum amount to do the swap? let’s say i have 10 trx can i swap such a small amount?

奥巴西 Obasi | Lead Wallet: There is a minimum amount. However, we will try to make it as low as possible so that we can capture good % of the market, and users can always come back 😄

Q4 from bitcointalk user apocan99

Will you provide any facilities on transaction fees or will they be at market standards?

奥巴西 Obasi | Lead Wallet: Only at blockchain standard. We will also the user the option of increasing txt fees for faster transaction!

Mary | Satoshi Club: Only increasing? If i want to decrease? Because for me sometimes it is a problem with different wallets, they charge huge fees.

奥巴西 Obasi | Lead Wallet: Both ways 😊. You decide how much you want to pay the miners for your txt to be mined. We want to solve this kind of problem.

Q5 from Telegram Username @jpsarmah

Why does a crypto wallet service require a native token and except trading the LEAD token, what are the other things I can do with it?

奥巴西 Obasi | Lead Wallet: Just as stated here (https://leadwallet.io/token), Lead token is a utility token that serves to benefit app users and the app ecosystem differently.

For the app, the token is vital to scale our app very quickly by incentivizing app users to use the app, and to invite their friends via their ref links.

Those who use our marketplace to pay for different everyday services using crypto will get discounts compared to those who paid in fiat. These users will get discounts when they make payment using crypto, and even more discounts when they make payments in Lead token. Also, Lead token will be used as voting power when adding new features into the Lead wallet app. Hence only those who Hodl Lead will enjoy the unlimited values that the lead wallet token presents.

There are also other features associated to Lead token:

  1. Staking rewards
  2. Deflationary value, etc.

This is where 51% of tokens are locked: https://etherscan.io/token/0x1dd80016e3d4ae146ee2ebb484e8edd92dacc4ce?a=0x1f977711b04dbf1bcc5544d28eaae15bad160bdb

Mary | Satoshi Club: Which rewards will you have for staking? Is there minimum amount for staking?

奥巴西 Obasi | Lead Wallet: Yes! Stakers can earn as high as 360% APY at the current reward rate of 1% daily interest. The minimum staking amount is 6000 LEAD.

Mary | Satoshi Club: Do you have a lot of users staking LEAD now?

奥巴西 Obasi | Lead Wallet: Yes 🙂 We currently have over 40% of circulating supply staked in less then 8 days of staking Dapp launch.

https://etherscan.io/token/0x1dd80016e3d4ae146ee2ebb484e8edd92dacc4ce?a=0x786a20fa02e4672d550bccf0bfff118caae519e6

Over $300,000 staked. With 1% daily interest paid out daily for early access stakers 😊

Mary | Satoshi Club: Great) btw, do you plan any airdrops or bounty campaigns to make wide distribution?

奥巴西 Obasi | Lead Wallet: Yes! After our app launch we conduct an active airdrop campaign for the first 10k users to download and use our app 😊

Q6 from Telegram Username @jobel4

One of the features of Lead wallet ecosystem is Lead Sig. Can you simply explain what is Lead Sig? What is the functionality of this feature? What are the limitations does it have to user?

奥巴西 Obasi | Lead Wallet: Ok! Both LeadSig and Multisend are features developed for groups and companies.

While the multisend feature allows companies and groups like Satoshi CluB to pay hundreds and thousands of airdrops and bounty hunters via a few transactions in other to save time and txt fees. The leading is a multi-signature feature that allows groups and companies to store group or company funds in a multi-signature wallet address to ensure that no single individual make any withdrawals without the consent of the other signatories. 👍

Mary | Satoshi Club: Oh, even i need this function from time to time. Will it be available in Beta?

奥巴西 Obasi | Lead Wallet: Glad to know that Satosh Club will use Lead 🚀

Unfortunately, No. But it should be ready before the end of Q4 2020.

D. | Satoshi Club: it’s pretty soonish. we will be waiting for it!


PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS

The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guests chose some of them.

Q1 from Telegram User @Nickkiii

I want to support your project, tell us more about the LEAD Ambassador Program and in what ways can we participate?

奥巴西 Obasi | Lead Wallet: Hi, everything about our current Ambassador programme is found here: https://t.me/leadwallet_Ann/200

Q2 from Telegram User @rockmorti

Is Atomic and Trust a direct competition for you? What is your relationship with the rest of the wallet developers?

奥巴西 Obasi | Lead Wallet: Other than common knowledge and standard practice, know relationship at the moment. But I’m confident we will have some relationship in the future.

Q3 from Telegram User @JoxesXIII

Lead Wallet claims to be “DeFi Access”. The reality is that recently there are scam projects related to DeFi. LeadWallet has a plan to protect us from malicious protocols?

奥巴西 Obasi | Lead Wallet: Hi, we don’t just claim it. That’s what we will be! Your secure gateway to the decentralized and NFT world 😊. Kindly check the two previous replies below. It will give you a clue on how we plan to be the gateway to DeFi and NFT 😊 https://t.me/Satoshi_club/346638 https://t.me/Satoshi_club/346642

Q4 from Telegram User @Jmagsss

In the future, will we see Lead Wallet available on desktop app?

Donnie | LEAD: Yes. we will have Lead Wallet for desktop to use. However, it won’t be a native desktop app but it will be a browser extension. We believe this is actually the best possible way for everybody on desktop and laptop to use.

Q5 from Telegram User @cengizhantekin

Some wallets on the market require to keep some standart tokens, such as ETH, BNB, etc. in order to pay fees which is an extra job to deal with. Will it be the same on LeadWallet or will I be able to pay the fees with the token which I am making a transaction?

奥巴西 Obasi | Lead Wallet: You will be able it depends. In some cases, you will be able to make the transactions the coins you are exchanging. In some other cases, the situation will be different.

Q6 from Telegram User @Chinthaka93

You have mentioned that lead does not hold custody of user’s funds. then could you please explain how are you going to get revenue from the project and how are you going to earn the project’s expenses?

Donnie | LEAD: The Lead SWAP uses API from certain non-custodial services which we will be able to make revenue on top of it.

奥巴西 Obasi | Lead Wallet: 1. We raised funds through various means: token presale and equity investment.    

2. We have at least 3 to 5 revenue-generating services. They include but not limited to:

  1. Multisig
  2. Multi-send
  3. Swap
  4. Marketplace/LeadPay
  5. Fiat withdrawals

Q7 from Telegram User @Winterkom

Why does Lead focus on design and not on the ease of use of the Wallet? Do you think that better visual appeal will improve the use of the wallet? Have you done research on UI/UX?

Donnie | LEAD: Actually, we focus on the ease of use as well. We aim to eliminate unnecessary steps and try to make the lead wallet usage to be as simple as possible.

Q8 from Telegram User @JoanaZ

When is gonna be launched the Official Wallet application to Mobile devices? Where can l download it?

奥巴西 Obasi | Lead Wallet: It will be available in this month-end. We will share the download link here once it’s available.

Q9 from Telegram User @Winterkom

Why has the development of Lead Wallet been so delayed? Is it because of covid issues or because the funds raised have not been sufficient? Do you expect to conduct another ICO to continue the development?

Donnie | LEAD: There are various factors that contributed to the delays. It’s not actually easy to find consistent and decent extra developers in the time like this, and the developers that we had prior to presale also had different jobs to support their own living cost. Only after we finished the presale we were able to scale up our development speed as we finally started to be able to offer more payment which has helped them to dedicate more time with us.

Q10 from Telegram User @alice_wonderland12

I read about LEAD unique features and Innovations. Now, I am really interested in lead wallet. BUT, what would be, a disadvantage for Lead? What would I have to take into consideration when I start using lead, and what is your plan to solve it?

奥巴西 Obasi | Lead Wallet: The major challenge crypto startups face is usually the Government’s unfair regulatory policy. The good thing is the countries we are aiming to kickoff Lead wallet usage are crypto supporting countries. But in the future, whenever we face regulatory set back from any country we will apply the best legal approach necessary to solve the issue. We already have a quality Legal team.

Q11 from Telegram User @BlancaSdF

Can you confirm your presence on uniswap and LEAD/ETH trading pair? For our safety.

奥巴西 Obasi | Lead Wallet: Hi, this is our Uniswap trading link: https://app.uniswap.org/#/swap?inputCurrency=0x1dd80016e3d4ae146ee2ebb484e8edd92dacc4ce

Q12 from Unknown Telegram User

Donnie | LEAD: Actually this is our goal as well. Personally I love Binance Smart Chain, we are looking forward to explore possibilities with Binance Smart Chain as well as other platforms.

Q13 from Telegram User @Nickkiii

I just came across the Staking program and read that those who stake early would get an ROI of 360%, is this offer still open for me, if I decide to start Staking $LEAD now?

奥巴西 Obasi | Lead Wallet: Yes! But it will soon end. So decide wisely 😊. But the new % return is still above industry standard.


PART 3, QUIZ AND INFO

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Lead Wallet. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners. Please check the winners list here:

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club

Russian Telegram group: https://t.me/satoshi_club_ru

Spanish Telegram group: https://t.me/satoshi_club_spanish

Telegram Channel: https://t.me/satoshi_club_channel

Website: https://esatoshi.club/

Twitter: https://twitter.com/esatoshiclub 

Our Partners:

Lead Wallet [EN]: https://t.me/Leadwallet

Website: https://www.leadwallet.io

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