Thread by @CryptoEdgar_

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#STEPN with #AlchemyPay AMA 27/05/2022:

* Mission
* Why?
* How?
* Who are they?
* Why #AlchemyPay?
* Recent achievements
* Situation today
* Future
* #AlchemyPay and #STEPN
* How to onramp
* Off ramp
* #STEPN and its competitors

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An AMA done with:
* Jonathan CEO of @AlchemyPay
* Yawn Rong (@yawn_rong) Co-founder of @Stepnofficial
* Barndog (@Barndog_Solana) Ambassador of #STEPN

Not sure if a recording is available. If so, I'll post later on.

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Mission
* Drive global adoption of cryptocurrencies.
* Take cryptocurrencies from investment instruments to actual currencies that consumers can easily use in the real world to pay for goods and services.
* Help DeFi penetrate into mainstream.

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Why?
* Complicated learning process of converting fiat money into cryptocurrencies. Exchanges need to accept your local currency.
* Globally only 3.9% knows how to make the step from crypto to fiat.
* Reduce merchant need for having multiple devices.

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How?
* Alchemy wallet. Most current solutions are focussed on businesses. Starting to look to include users as well.
* They have a hybrid, all-in-one, payment system that enables merchants to accept both fiat & cryptocurrencies.
* Merchants get paid in their local currencies.

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Who are they?
* Founding members came from the payment system world (@PayPal, @HSBC and @Mastercard). So they already have established connections with the financial world. Integrating with them.
* Thus no need to go door to door trying to bring on merchants. Use connections.

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Why #AlchemyPay?
* ? and @SimplexCC were among the earliest ones in the space. Great job but can only accept credit cards & limited alternative payment methods (EUR & USD)
* Support popular local payment methods like mobile wallets and domestic instant transfer services.

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* Focus on fastest growing markets (according to their research, these are developing markets such as India, Brazil, Indonesia, Thailand and Vietnam.)
* Significantly cheaper than credit card transactions

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Recent achievements
* First token to get listed by @binance in 2022
* Few days ago listed by @kucoincom & @krakenfx
* more
* Jonathon referred to their Twitter post.
Could be this one:

https://twitter.com/AlchemyPay/status/1522566255437398016

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Situation today
* Solution is available to over 2M merchants
* They get paid in their local currencies
* Recently partnered up with @binance connecting 65M of their users
* Recently partnered up with blockchains such as @0xPolygon and @avalancheavax

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Future
* Focus on two of their key business units:
- Crypto payments
- Crypto on ramps
* Build out their alternative payment channels in growing markets
* Acquire additional payment licenses across the group to lower the cost of their payment channels to stay competitive

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#AlchemyPay and #STEPN
* Bring extra value to the tokens earned within #STEPN. Real world use cases
* AlchemyPay integrated #GMT tokens in the payment system
* #STEPN use case is a positive addition to the #AlchemyPay portfolio #health #lifestyle
* Earned tokens can be spent

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How to onramp #GMT and #SOL
* Two options:
- Existing crypto wallets (centralised or decentralised)
- Alchemy wallet (meant to reduce the learning curve for non-crypto users. Based on email address)
* All they need is an inbound address to start using their onramp services

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Offramp
* Not fully ready and implemented
* #AlchemyPay still working hard on off ramping as well. Recently they've tested it with a user who sold off Ethereum and had funds on his bank account within 10s.

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#STEPN and its competitors
- Easy to open up two apps at the same time and earn with other projects
- StepN earning mechanism still superior to competitors
- Better anti-cheating mechanisms to keep the game alive & healthy
- Better prepared for scaling a large number of users

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Thanks to @Barndog_Solana @AlchemyPay and @yawn_rong for todays #AMA. Great information.

If you liked this thread, please Like♥️ and Share🔁 the FIRST post.

A #STEPN activation code:
* 68897043