Hello 404 Daily Crypto community,
We recently hosted our 2nd AMA with REAPit, on 29th of March, at 10:00 AM (17:00 WIB), with our guest from REAPit team:
- Jonpeterson, REAPit Founder
Many of you might have participated or many of not, So here we are up with the AMA transcript for those who missed the AMA session.
Introduction Question Asked By 404 Daily Crypto team
Ok before we go further lets start with asking you to introduce yourselves, your role and your background ? and how you discovered crypto?
Hi, I am Jon. I am the founder REAPit Finance, which is the owner of our flagship dapp called REAPit Wallet.
I worked as a front-end developer for Oxplay Digital and developed at least 50 websites in over 3 years.
My journey into crypto started in 2016, then I spent half of my day on Poloniex buying and selling every coin as a trader and inventor.
We have been working on REAPit for over a year now and the initial idea was to create a simple, easy and safe DEX but this concept behind the idea changed from owning a DEX to creating a more flexible dapp tool where users can add liquidity to pools, tip, send, stake and send tokens without leaving their chat.
Fast forward to October 2020, we reached out to different firms and now we are ready to bring REAPit Wallet to the world.
Q1 : Can you introduce what is REAPit and how does REAPit work?
Reapit Wallet is chats based wallet that allows users to add liquidity to pools, tip tokens to other users, stake REAP, send and receive tokens.
The technology behind the UX will make a user forget he/she is making use of Telegram bot but a payment gateway in a chat.
What differentiates us is - giving users a complete payment experience on by typing a command on Telegram, Twitter, Discord and Reddit.
Q2 : Can you share the strengths of REAPit that make REAPit stand out?
What makes the platform diff other token bots?
Reapit is fast and easy to use. The technology behind the UX will make a user forget he/she is making use of Telegram bot but a payment gateway in a chat.
On REAPIT, users have the ability to swap any type of token or coin, send and receiving tokens is also a feature you are going to find on Reapit but the case is different with other bots because they don't have this. What differentiates us is - giving users a complete payment experience on by typing a command on Telegram, Twitter, Discord and Reddit.
Q3 : Does the REAPit Team have a roadmap in place ? And if so has everything been going according to the RoadMap ?
Yes, we do have a road map and we've hit some target.
1. Launch reapit bot on tg
2. You can stake REAP on uniREAP
3. REAP is now listed on latoken.com
4. REAPit Wallet is now on two blockchains. Ethereum & BSC
5. Txbit.io listing will happen next (voting is life here https://txbit.io/Voting)
Development and hitting other things on the road map is the target as we move on.
Q4 : How does REAPit intend to increase the value, utility and liquidity of $REAP token. Thus producing a natural increase in price of the token?
REAP Token's demand from users and traders is an vital part of our revenue model. REAP is also the base currency for REAPit Wallet which makes it very essential in the system.
Our products like UniREAP and REAP Grants and REAP p2p will need REAP to run as the stake rewards and developers grant fee will be paid in REAP.
Furthermore, we have plans to burn over 50 Million REAP starting from next week.
This will help regulate the price and make it has a very good value on the market.
Q5. What technology do you bring to secure @REAPitwalletbot? I often see Telegram got hacked by irresponsible person.
REAPit Wallet uses chaingateway.io api services to host nodes. We don’t keeps users balance in our wallet.
Questions asked by our 404 Daily Crypto community members during live Session to REAPit team
Q1. From Telegram username @Yan_089
Do you plan to make partnerships with local cryptocurrency developers and local project in every country to make the use cause of the token more global?
Yes, we do.
Our other arm of the organisation called REAP P2P is going to launch soon. This will help us reach more local places off telegram this giving the token a much better value.
Q2. From Telegram username @alisacrypto
Is your platform suitable for Crypto beginners? Or does it only appeal to professional users?
It is suitable for everyone especially beginners. We chose social media platforms because this is where everyone one is. If you can’t operate uniswap or 1inch, then REAPit Wallet is here to help you ease how you interact with liquidity pools.
Q3. From Telegram username @Vanomote
Tell us about your plans for 2021, what are you currently working on, and are you going to expand the list of big exchanges?
Then followed by any other big exchange.
Q4. From Telegram username @Catsomnia
do you have a globalization plan? if so please explain how and which country & sector do you focus on?
We focus on Asia, Europe and Africa for now. We plan to include more social media platforms like We chat in the future.
Q5. From Telegram username @Alika061
what are the digital assets neded to stake in #RepitDefi and what minimum digital assets is required for staking ?
REAP is only listed for staking for now. We already have listing request from token owners. We will pick the best to list on the staking soon.
Q6. From Telegram username @lucy4277
Token burn is important for investors, do you have any plan burn or buy pack?
We are going to burn 50 m REAP beginning from next week
Q7. From Telegram username @dungpro123
Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audit it through any of the parties?
Audits updates are coming in this week.
Q8. From Telegram username @Dot089
Presently as at today, can we possibly use your token in real life for payment? any plan for increase use cause for the token?
Not at the moment. But OTC will be introduced.
Q9. From Telegram username @nadernewell
Are you planning to spread awareness about your project in various countries where English is not spoken well? Do you have a local community so they can better understand your project?
Yes. We already have communities in Vietnam, Indonesia and we plan to expand to other non English speaking communities
Q10. From Telegram username @tieunaos
As we know, By the Token price many people judge a project, What do you have to Say to investors? What’s the plan to increase the Token Demand?
Burn. More usability of products.
Here are some important links of REAPit
TELEGRAM GROUP: https://t.me/reapitdefi
TELEGRAM CHANNEL: https://t.me/Reapit_news
REAPit WALLET: Https://t.me/reapitwalletbot