AMA Recap of Crypto Legacy x Cash-Out: Cash-Out Roadmap and LATAM Expansion, by Harold Lee
Last Wednesday, May 4, Harold Lee (Owner of Cash-Out) was invited by Crypto Legacy (a Hispanic Telegram community based in Latin America) to present and learn about the Cash-Out technological roadmap and the importance of Spanish-speaking market in it.
The Crypto Legacy team has recently heard about the influence of Harold Lee and his growth in the midst of 2021, having the presence of Harold Lee in our community was very educational and beneficial for everyone.
As indicated in the title of this article, the central part of the AMA was to know the Cash-Out technology roadmap, its priorities for the coming weeks and the role that the Hispanic community will have in Cash-Out during 2021.
In the following paragraphs we will try to convey and describe what this experience was, so that other people can use the knowledge that we receive.
Alfred, [04.05.21 12:05]:
Introductory questions:
Can you provide a brief introduction to the core team behind Cash-Out?
Harold lee:
Yeah right. The team consists of me, as the owner, David Smith who is my right hand man. He is the community manager who carries out all the Marketing strategies and who made this AMA. Additionally, we have Black Burn, it is our Web Dev master and several Mods, among which you can find Richard, Adam Smith and, our newest addition, Harris Crypto. Of course, there is a team of developers who are working on the platform and the core of the project, as well as on the development of the token. But this part of the team remains annon. We are the visible face of Cash-Out.
It is important to note that we are a very oiled team and that we have been working together for a long time. When the dream of Cash-Out began to emerge. This makes it possible for everything to develop in a great way.
Alfred:
Excellent! Looks like a good team.
What is the current problem with decentralized financial systems and what does Cash-Out offer to improve this area of the market?
Harold lee:
That is an excellent question. As you all know, decentralized financial systems are swarming throughout the crypto community today. There are many people working for them and looking to make a profit.
Of course, it goes without saying that they are always focused on people with greater resources or areas of intense population. Cash-Out comes to revolutionize this concept; we are oriented to emerging markets.
We seek to be a wallet for all those people who, at present, cannot access their investments in crypto currencies because the system does not allow them.
When we refer to the fact that the system does not allow them, we mean that the conditions are not yet in place. That is why the fact of being in front of a Latin American community today is very important to us.
Of those present, I assume that many, if not all, wish they could have in their possession a debit card that is associated with a digital wallet where they keep their tokens or coins. And then, with that debit card, go to your favorite supermarket and pay for your purchases with, for example, the USDT that you have in your wallet.
Now, who of those here has that debit card? It would be very useful if anyone had access to this type of service.
I dare say that few, or even none, have it. Because? Because the platforms that are developing these things are not oriented to developing countries. Binance, for example, already has a debit card. But you have to be in Europe or some rich Asian country to have access to that card.
We propose to solve that problem! That is our differential and what makes us great.
Alfred:
Can you talk a bit about your prospects and how they will benefit from your products and services?
Harold lee:
Of course, I think I went ahead a bit and already provided a bit of information in that regard.
Alfred:
hahaha..
Harold lee:
Cash-Out users will benefit in two main aspects (i) they will be able to centralize all their financial assets corresponding to the crypto world in a single electronic wallet, and; (ii) even more important, they are eligible to be holders of a debit card that will be associated with that electronic wallet.
In case you want to use your crypto to pay for a service or product, simply swipe the card and soon. They should not convert the currency they want to spend in a specific currency, much less, everything is done automatically. Of course, the user will decide which currency he wants to use by default.
Regarding our target, as I mentioned, we are targeting users from emerging markets who do not have access to debit cards synchronized with an electronic wallet. We truly believe that we can encompass a large portion of all the people who invest in crypto in these markets.
Alfred:
What is that milestone in Cash-Out that you are most proud to achieve?
Harold lee:
Well, before answering this great question, it is necessary to clarify that Cash-Out is a very recent project and it still has a long way to go!.
Without a doubt, we are deeply proud of our Marketing team and the great explosion it has achieved in our community. We have grown exponentially and without stopping since the Telegram group was created.
We must also highlight the great alliances that we have been able to close. People are really liking our product and I think that has contributed enormously in that regard. I should also mention that we are very proud of our team of developers. The token is already launched and can be checked by anyone present in BSC scan, it is already verified by this platform as well. We have received numerous approaches from people requesting access to our devs due to the strength of the code. We are certain that we are facing a great token.
Of course, and this is not public so I cannot give many details, the platform has been developed according to the roadmap, which is fundamental!.
Alfred:
Write this down, the tokens are already available guys.
Harold lee:
A little precision in that regard. The token is already released, available on BSC scan, but it is not listed yet. The opportunity to get the tokens is going to be this weekend, on Saturday, when we will be having our public sale!.
Alfred:
Excellent, scored!.
Last question of the intro segment
What plans does Cash-Out have for this 2021?
Harold lee:
Big question!
In the very near future, as I mentioned, we will be having the Public Sale of our tokens, this will only last 2 hours. Right after its completion, we will be listing the Token on PancakeSwap.
We plan to tirelessly continue to grow the community throughout this 2021 calendar year and become known all over the world!.
Alfred:
PancakeSwap❤️
Harold lee:
We are in negotiations so that, after listing on Pancake, we can be listed on other CEXes and DEXes of great prestige and renown. Also during 2021.
In addition to this, the big milestones this year will be: (i) listings on CoinGecko and CoinMarketCap with which we are already in talks; (ii) Audit of our Smart Contract with Certik; but, the most important (iii) about the end of the year, the launch of our mobile platform that will be available in Apple’s Apple Store and Google Play Store. This in addition, of course, to various marketing and partnership agreements.
We are going to launch the platform for computers too, but this will already be in 2022!.
Alfred:
Great news!
Harold lee:
For more information on these aspects, please refer to the roadmap on our website cash-out.finance.
Alfred:
We now move to Segment 2: Best Twitter Questions
@Susojallet0:
“What are the differences, benefits and characteristics of the cards: Standard, Golden, Platinum and Black?”.
Harold lee:
As the question says, we will be having several debit card options on our platform. The Standard, Gold, Platinum and Black, I assume that everyone is already familiar with this categorization. In essence, the higher the category of the card, the greater the benefits that the user obtains.
Specifically, we will be offering cash backs on all purchases made with Gold, Platinum and Black cards. Cash back implies that, immediately at the time of purchase, the user is reimbursed a% of the total value of the product or service for which he paid with the debit card.
In the case of Gold it is 2%, Platinum 4% and Black 8%, so suppose that a user with the Black debit card makes a purchase for $ 100, well, he will instantly have a refund of $ 8.
Now, how can a user access the different cards?
The category of the card will be determined, basically, by the amount of OUT Tokens that the user has in Stake. The higher the category, the higher the staking requirement.
@ meml1997:
“Cash-Out allows crypto users to spend their investments with your Debit Card. But as we know, all Debit Card. But as we know, all debit cards ask for a series of requirements in order for people to have them, what will you ask for if people wants to have one of your debit cards? “.
Harold lee:
In this case we must distinguish two large edges:
1. The requirements to have a Cash-Out wallet. These requirements are non-existent. Like all DEX wallets, we will not request any type of personal data from our users. They will be granted the seed phase and voila, they can now access their electronic wallets.
2. The requirements to have debit cards. In that case, the requirements exceed Cash-Out and everything requested by the card issuer must be complied with in order for it to be issued. What Cash-Out does is link the debit card to the electronic wallet.
@ Ksalom95:
“You point out that OUT Wallet allows you to have a bank account linked to SEPA and Swift bank transfers, but could you really explain to us, how you will associate DeFi with traditional banking in a simple card? For this, you must have a bank account in a specific bank? “.
Harold lee:
A clarification, transfers will not be through the debit card. The debit card will work just as traditional bank debit cards work with the difference of being associated with an electronic wallet instead of a bank account with FIAT. And, of course, with all the advantages that we already talked about.
Transfers will be made through the user’s electronic wallet. And yes, one of the functions within the wallet will be to exchange crypto for FIAT and that FIAT is transferred to a traditional bank account of the user. Of course, it will be the user who will provide us with that bank account. We are not going to be associated with any traditional bank. It not only goes against the essence of the project but also against our intentions.
We seek to be an alternative, precisely, to those centralized banks!
@gazianteplyy:
“Which area does Cash_Out focus on at the moment? (DeFi, Gaming, NFT, Yield Farming, Dapps, …) and which products / projects are you developing to support it?”.
Harold lee:
Our focus is 100% on DeFi. We seek to replace or at least be a strong alternative to the traditional banking system.
Do you want to have all your savings invested in crypto? Well, no one should point it out because it is so. It also doesn’t have to be a bureaucratic red tape to be able to withdraw your investments in crypto in order to spend them in the real world.
Alfred:
Exactly
Harold lee:
Cash-Out wants to provide that solution to all users. Keep their investments in crypto, but simultaneously, that they are accessible to what they want.
Because of this, it can be firmly said that we are 100% focused on DeFi. As for the products we are developing, we have already delved into them: (i) the wallet, and (ii) the debit cards associated with this wallet. In order not to bore the audience or be redundant, I will not repeat what they consist of!.
@sofiaisla11:
“About the $ OUT presale, I noticed that the tokens will be launched to the public by presale from 80–40%. Where will the remaining percentage be distributed? Where will this event be held? Why did you decide to block liquidity? up to 2099 and what benefits you will give to the LP? “.
Harold lee:
Yes, it is correct, around 80% of all the tokens will go to the Presale.
Alfred:
Looks like the boys did their homework.
Harold lee:
First I touch on the liquidity and then the missing tokens. Regarding liquidity, it is important to clarify that this liquidity that is going to be locked is NOT the one that users will provide by staking their tokens.
As you know, for a token to be listed on PancakeSwap, it must have initial liquidity. This initial liquidity, provided by Cash-Out and which will be taken from the funds obtained in the pre-sale, is the one that will be blocked until 2099.
Alfred:
Interesting…
Harold lee:
This is, in short, a measure that we take so that investors have the certainty that the token is not going to disappear. That is, if liquidity is blocked until 2099, it means that no one (no matter how much you are the owner of the token) can withdraw it until the term is not met. Avoiding, therefore, that the liquidity falls to 0 and the price of the token as well. The LP that users will provide through Pancake or Staking will NOT be blocked and can be withdrawn at any time.
Alfred:
Good decision, inspire more confidence👍
Harold lee:
Exactly, that is what we are looking for. The funds obtained with the collaborations of the presale will be mostly blocked until 2099, which ensures the possibility of trading the token until that date. Without any surprises, for anyone. Cash-Out came to stay!.
Now, with respect to the remaining 20%, 7% corresponds to the team that is developing Cash-Out. These tockens are also locked and will be released to the team only 6 months after the Token is listed. Just under 5% corresponds to the founders, advisors and initial investors for their collaboration in the project. They are also locked and will be released after 10 months after the Token is listed; A little more than 5% is allocated to reserves of the Ecosystem. This is to be able to launch, tomorrow, the staking of the token and other types of bonuses for users. In line with the launch of our platform and staking, these are locked for 12 months after listing.
And finally, as part of the Marketing campaign we decided to carry out an Airdrop to reward all those who support us since the beginning of the project. Less than 2% of our Tokens were allocated to this strategy.
Alfred:
Harold Lee, thank you very much for answering all the questions
Now we move on to the last segment of the AMA: Live Questions.
Harold lee:
At your orders and I will gladly answer the ones that come.
@MagdaCV:
“Will OUT debit cards be NFTs or will they be conventional debit cards? “.
Harold lee:
Debit cards will be conventional. Users will get the “carton” that we all know of a debit card so that they can go to their favorite stores and spend their crypto. As much as we would like the world to adapt sufficiently and be able to be issued in the form of NFT, sadly, we do not see this as a viable option at the moment. The debit card will be a conventional one.
@Gutike95:
“I understand that OUT Wallet will have access to over 50 different cryptocurrencies, but do you really plan to add more? If so, what will the process of adding new coins be? Will they have to be from a specific network?”.
Harold lee:
It is right. OUT Wallet will be, initially, compatible with OUT and the largest cryptocurrencies on the market. This list will be expanded, without a doubt.
As the crypto world is huge, the way we are going to expand OUT compatible currencies will be through the involvement of our community. As I mentioned, we are totally committed to decentralizing most aspects! Therefore, we will submit to the consideration of the community and they will decide.
Alfred:
I like projects that always take into account the opinion of their community.
@Cat_opp490:
“What is Main reason everyone should buy your token? How is the structure of this project? Is your project fully decentralized? “.
Harold lee:
Well, on this great question, I must start saying that we encourage this community to collaborate with OUT’s project during the Presale. It will be the only opportunity where you will be able to get our tokens at a great discount. 20% below listing price.
We are really confident that this great project will go far, we don’t only have the spirit to do it, but we also have the credentials for it. This project is being build as we speak and its growing steady and fast second-by-second. As a fully DEX project we are going to include our community in major decisions regarding the project. As I said before, and just as an example, regarding staking to get the different cards.
At this point we must say that OUT is the only project that will offer this service to people living in emerging market countries. This is not minor, it will be what will make great and deeply successful.
Alfred:
Thanks Harold, it was a pleasure having you with us and we will be following your project closely!
Harold lee:
The pleasure was mine. I hope you have found the project and my presentation interesting in your community. Again, thank you very much for having us here. Any questions or doubts you have regarding our operation can be directed to any of our administrators or check it on our website: cash-out.finance.