Moola Q&A Session 9 September

September 9, 2022

Our answers provided to the questions submitted by our community via our Typeform we shared towards the end of last month.

We are pleased to share our answers to a number of questions submitted via the Typeform we shared towards the end of last month. While this Q&A is being done in an offline written format, we will look to resume live Q&A sessions as soon as possible. 

  • If the product is going to be delayed will the team try and promote the product and the AXPR token before the launch?

Yes! Once a new partner has been finalized and we get the app release timeline back on track, we can begin looking towards implementing our marketing strategy once more. The key thing, as it stands, is to settle on a new infrastructural partner and resolve any possible required functionality changes from the capabilities of our prior partner.

As this wraps up, we can begin marketing the Moola app which will have undergone changes due to the offering of the new partner compared to the previous one. A focus for us on the marketing front will be initiatives like referral campaigns to drive signups for the app ahead of the release. We will invest further marketing spend on content, influencers and paid advertising. The priority right now, though, is getting the product ready to ship.

  • How do you plan on restoring the faith in the community and ensure the negativity seen throughout all social media changes?

Restoring faith in this instance requires delivering a product as soon as possible to create value and utility for our community. We are determined to achieve this and are working relentlessly to make our vision a reality. We believe we do know the crypto audience well and believe that they can easily be brought back on-side following the successful release and adoption of Moola.

After we’ve sorted out the remaining uncertainties related to the app and the infrastructural partner, we want to continue with AMAs and more open communication like the livestreamed AMA held in the Telegram group in July. 

  • When will we find out more information about the old and new partner?

We’ll be able to share an overview of the issues we experienced with the prior partner and information on the new partner once this new relationship has been finalized. We anticipate this to be in our next progress report. We can confirm that we have officially terminated our relationship with our previous partner and now are fully focused on completing our due diligence for the new one. 

This is likely to be closed toward the end of September or start of October, depending on our final conversations and exploration of their technology.

  • When can we expect the L2 token swap to Polygon or Optimism?

The token swap’s primary hold-up is exchanges, where there are significant financial implications when a token swap is required, as well as the addition of support for L2 deposits and withdrawals. 

We don’t yet have a timeline as we’re trying to attain a more favourable deal, but we also don’t see a need to rush the swap as there are several examples of a rebranded token being able to exist with a different ticker for a period of time leading up to an eventual swap. As an example, see Cronos (CRO) which at a time still had their old ticker MCO.

  • When can we expect to see direct effort in the optimization of the AXPR token?

Marketing of the AXPR token will happen through the marketing of Moola itself, where staking is a use case that provides in-app benefits and discounts. There are many ways we’re going to include AXPR marketing in the app marketing, such as through token prize incentives provided via several phases of referral marketing campaigns, and through marketing the benefits of the staking program. Please standby for more details on AXPR token’s integration into the Moola app and mechanics to create value.

  • When will we see actionable items instead of words?

Very soon. This delay has been caused by a factor outside of our control, as we’ve previously explained. You will see actions, instead of words, when we ultimately launch the Moola app after releasing accurate updated scope and timelines expected ahead. Once we have this certainty, we can begin a greater level of marketing and communicating with confidence to further the growth of our community and Moola’s adoption.

  • Any plans for new exchange listings?

No, not at this time. We are focused on the app release and everything else is secondary. It may be something we look at post-release.

  • Can we withdraw cash from an ATM using the Moola Card?

Yes, the Moola Card will support ATM cash withdrawals, balance inquiries, and more. There will be some limits on the amount of daily/weekly/monthly withdrawals.

  • Are there limits for daily purchases using the Moola Card?

Yes, there are limits, but reasonable ones. The specifics of these limits is not something we’ll share until the new partner has been finalized.

  • Is Morocco supported by the Moola app?

With the change of partner, it’s unlikely. It’s looking like we’ll have to revert to our initial focus of support for EU/EEA countries only, with a view to support the UK in 2023 and then broader countries. This does also fit in line with our go-to-market strategy focus as we look to establish a presence in Europe first.

Thanks for reading! We will be conducting another Q&A session towards the end of this month/early October. 

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  • Launch of Moola website
  • Further details on the Moola card and AXPR staking
  • Release of Moola litepaper
  • Launch of the Moola app
  • Deployment of marketing initiatives and heavy investment in brand awareness / user acquisition…

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