AMA Recap Crypto Library with BYOB (DataMynt)

  

 
On 3rd November 2021, BYOB (DataMynt) conducted an AMA in the Crypto Library Community. Our guest is Alex Christian. Lots of questions as usual from the Community about BYOB (DataMynt) progress. The BYOB (DataMynt) team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into BYOB (DataMynt).

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?
 
Alex Christian (BYOB) : I've been in payments, fintech and now defi and crypto since 2012. based in silicon valley and founder of data mynt where we've built a web3.0 platform for retailers and merchants to accept crypto and leverage web3.0.
 
My background is at metal pay $MTL, yellowcard.io, unit21.io, ebay, western union and airwallex.
FIRST SEGMENT (HOST)
Crypto Library Team : What is BYOB (DataMynt)? and how does it work?

Alex Christian (BYOB) : $BYOB is the native token of DataMynt.com, a web3.0 fintech platform for merchants and retailers (e.g. coffee shop) that rewards its consumers who use crypto and stablecoins to pay in $BYOB
 
ERC20 compliant and security audited...also $BYOB includes an insurance module to ensure your assets are not hacked when staked in our contract
 
Crypto Library Team : What services and features are available in BYOB (DataMynt)?
 
Alex Christian (BYOB) : You can get crypto back for purchases, swap, and stake currently...more features are also in the works. the biggest feature is being able to get $BYOB for using your crypto to pay for goods and services for example your meal ot movie tickets or clothes
 
Crypto Library Team : Please tell us about $BYOB token! What are the token use-case, distribution, and how to buy/get it?
 
Alex Christian (BYOB) : 
 
8 billion tokens were created; here's the allocation breakdown
 
At least 40% is for our merchant and retailers to offer crypto back for purchases! 
so you walk into a retailer, make a purchase using your mobile crypto wallet, and get $BYOB back. currently is pre - sale you can request via our TG channel here:
 
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans??

Alex Christian (BYOB) : Sure thing -- we launched to main net in Q3 2021; built staking contract and vault in Q4 2021; community is currently over 4,500

next we plan to airdrop to over 5,000 wallets by December 31!

and list on a CEX and DEX very soon also

SECOND SEGMENT (TWITTER)
Crypto Library Team : I read BYOB has native insurance funds, can you tell us more about this insurance? where is the source of the funds obtained and collected? what situations and conditions can this insurance cover?
 
Alex Christian (BYOB) : Yes we have over 10% of the tokens created in our insurance pool...this will also be staked to grow.
 
insurance will cover in the event of a hack or account takeover
yes we have over 10% of the tokens created in our insurance pool...this will also be staked to grow.

insurance will cover in the event of a hack or account takeover 
 
if you have any further questions about insurance let us know in TG and
 
Crypto Library Team : is it true that BYOB is planning to develop its own security type module as some other projects are using to protect themselves from losing funds? Can you explain what kind of security will be used and implemented in designing this module?
 
Alex Christian (BYOB) : yes, $BYOB smart contract infra includes a security module to prohibit loss of user assets in the contract... you can check the most recent security audit on Medium for more details  Suffice to say this is new to the insdustry and we believe is a game changer. Much better than the other tokens and projects who don't take security seriously.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : BYOB currently works on the Ethereum network so could you tell me why you decided to use this network and not others with more retail friendly gas tariffs? What plans does BYOB have to develop its ecosystem on other smart chains? Can you tell me about the interoperability of the project?
 
Alex Christian (BYOB) : We've started on ETH and will follow the market in terms of efficiency, cost effectiveness (we're partnered and integrated with Polygon), and safety....as other chains mature we will include and launch on those as well.
 
Crypto Library Team : What are the areas of use of your token? How do I buy your token? Which wallet supports your tokens?
 
Alex Christian (BYOB) : Crypto back on crypto purchases; staking and swaps 
 
Crypto Library Team : Many new projects initially developed well but were suddenly abandoned. How will you manage your project to get your position on the market and become the best project in the blockchain world?
 
Alex Christian (BYOB) : Because $BYOB and Data Mynt are practical applications that your current retailers and merchants use or will use...our project is being integrated into the fabric of our existing lives.
 
Crypto Library Team : Something that caught my attention is your insurance-like mechanism included in all your smart contracts so could you tell me about this and how beneficial it is for users?
 
Alex Christian (BYOB) : Yes our number 1 priority is safety and security...that's what we've built into the fabric of our smart contracts. For more details on the mechanism see our Hacken audit posted on medium
 
Crypto Library Team : Your project is very important but it needs a large user traffic to be sustainable over time. What marketing strategies do you have planned to increase the validity of your brand?Are you planning a strategic partnership to level up your project...?
 
Alex Christian (BYOB) : Airdrops + network effects + market making
 
Comments