Q1: Thank you for joining us. Please share your journey to launching a Staking Wallet for the crypto users and how is it affecting the staking market?
Ans. Wetez started as a part-time side-project in April 2018. We felt that PoS will be a trend, so we started to find an entry point. Our initial goal is to join EOS network however we don’t have many resources. We listed most of the projects belonging to PoS consensus and evaluated them with four sectors including community popularity, staking rewards, entry level, and date of mainnet. Then we choose Tezos as our first project. Tezos is a niche for Wetez team. Tezos is quite popular in the western county but not in China. We wrote several articles for introducing Tezos and that’s how we started our first community. Then we built the first mobile wallet (both Android and iOS) for Tezos just right after the mainnet launch. Tezos is our start point and we keep pushing forward to other projects with staking. Being one of the first decentralized wallets for staking has some benefits and challenges. Wetez doesn’t have many resources for marketing. Nevertheless staking feature is one of our weapons to attract users. Wetez always aims to build a no-brainer wallet. So far, we have educated a lot of users about staking and let them use Wetez as a tool conveniently.
Q2: We would like to know how did you market the Wetez wallet to get more customers as very fewer people are aware of Staking concept?
Ans. This question can be divided into what we have done in China and western country. I will answer the China part first.
Wetez is one of the first PoS evangelists in China. Actually, most of cutting edge articles related to PoS and Staking is written by Wetez. We build up our image as the most professional team in the PoS and Staking field. So a lot of media come to us and interview us for insights. That’s how our brand and business go snow bowling. Also, we manage several community groups for popular PoS project, and these people become our seed users.
For the Western part, we actually spend a lot of time on it. We don’t want to confine us in the Asia zone. We interact a lot with other validators on Twitter, Reddit, and Riots. This is the right way for the Asian team to earn global identification. We also collaborate with other validators for cross-marketing. Therefore, as an Asian team, we did better than most of the other projects.
Western community is mainly for branding and the Chinese market is our main territory. We will keep at this pace and enlarge our advantages by integrating more and more projects.
Q3: What are some reasons to choose Tezosblockchain to build the wallet over other blockchain technologies?
Ans. I answered some of them in the above question. Tezos is not that popular in China and there is no tool and tutorial in Chinese. We start the community and build a mobile wallet as a tool for staking. Therefore, we easily attract Tezos holders in China.
Q4: As we can see, you are partnered with Capital funds like Continue Capital and Nirvana Capital. In what capacity you are partnered with these capital funds?
Ans. They are our seed round investors. We share the same value of the prosperity of PoS projects. They support us with some tokens for different blockchain projects’ entry. In the return, we provide staking services for them with lower fees. Also, we have other collaboration about both of our brand.
Q5: How was your experience with approaching the investors to get the funds for Wetez wallet, and what was your approach towards it?
Ans. For the seed round, it is quite easy. As we mentioned on the above, we share the same value. For our next round, it is all about what we have done and what opportunities we find during this time. Many capitals get interested in staking and they come to us spontaneously. On the other hand, we can approach them much easier with our established reputation in the Chinese community.
Q6: As I have asked a few questions about the investments so I would like to add one more question, what is the product USP that you were pitching to the investors to get the fund?
Ans. We are always working on improving our reputation, through writing original articles, building tools, and sharing our insight of how to design a staking module and how to delegate using a Wetez wallet. All of the output is executing in a technical way, funds withIdentifyvaluesof Technology are prefer our team.
Q7: What are some of your future plans with Wetez wallet and which coins we can see in the future in the wallet?
Ans. We always have our guidelines to evaluate new projects. (mentioned on the above) Undoubtedly, we will integrate the most popular chain like Cardano, Algorand, Polkadot, and Difinity. Besides these projects, we choose to have deep collaboration with other projects’ foundation. If they can help us by providing bootstrap entry tokens or promoting us as trusted wallets, we will involve more in their communities. This is a good way to grow together.
Q8: As Ethereum has also announced, they will be moving to Proof of stake mechanism so once mainnet will be live, what are the changes we can see in the staking ecosystem?
Ans. By far, not so many people understand staking yet. Based on the staking rewards website, the market cap of PoS tokens only occupies 10% of the total market cap. Ethereum has the second largest market cap and the strongest community. It will be a fierce catalyst to Staking ecosystem. All exchanges and wallets will provide staking service for ETH or they will lose all traffics. In this way, it shows that every token holder needs to understand the basic logic of Staking including calculating rewards, choosing right validators and staking tool. To think further, staking rewards will be a new return way for investors. Eventually, it will create a new financial market in the crypto world. It will come soon. The market cap of PoS token will take up to 50% and even more.
Q9: Share three reasons why someone should stake coins by using Wetez wallet?
Ans. 1. We know staking. We provide a no-brainer way for you to stake( Different projects have different staking mechanism, but we use our product to make it easy for normal users.)
- Wetez supported most staking projects so coin-holders don’t need to download a lot of wallets.
- We manage and educate the community about staking.
Q10: Would you like to share something with our audience? If someone wants to connect with you, which is the best platform to connect?
Ans. For English users- Email: [email protected] and Twitter: Wetez_wallet
For Chinese users- Wechat official account: wetez