I’m Pham Minh Tam — Cofounder of Solareum
I have been in the crypto market since 2017. Through working for a crypto exchange in Japan
Thanks to that, I have a chance with crypto
Thanh Quang Nguyen:
Hello everyone, I’m Nguyen Thanh Quang, I’m happy to join CryptoFury’s AMA
I am currently holding the position of BD and Finance of Solareum
Tam Ph: Solareum is a crypto wallet developed specifically for Solana.
We consider Solareum as a springboard to develop Payment Procotol
This is the next product that we will focus on developing in the coming year
Hopefully below I will have the opportunity to explain more clearly about the Payment Protocol — Lightning Rewards that we are developing
Lightning Rewards — Payment protocol will combine with Solareum Wallet to bring convenience in people’s daily life. We shape Lightning Rewards to be the bridge between the current web2 world and the future web3 world
2. What can we expect to see from your platform in the short term (at some point in late 2021) & 2022? And beyond (long term goals)?
Tam Ph: Yes, Solareum Team has 3 main target products:
Serum Dex Client
Thanh Quang Nguyen: yes, first of all, the first application of Solareum is Wallet, this is a place where anyone can store, receive or send all the tokens of the Solana platform. You can create a wallet on Sollet or Phantom and then import the wallet into Solareum to use on your phone
Tam Ph: We have no plans to develop extension in the browser, because we think it will be a waste of resources if many teams develop the same product.
Team solareum encourages you to import wallets like Sollet or Phantom into Solareum to simultaneously trade on the web, as well as use Solareum to trade on your phone.
Solareum Wallet is Team’s short-term product. It helps the team get their first step into the crypto market
The team’s long-term goal will be in Serum Dex Client + Lightning Rewards. What I will introduce to you next
About Serum Dex Client. Solana has gone to great lengths to increase onchain processing capabilities. Solana’s base processing speed starts at 50000 TPS (Transaction per second)
For ease of use, the TPS of bitcoin/ether is currently ~15
And the processing speed of Visa or master card payment system is at 65000 TPS
So in terms of speed, Solana’s processing ability basically meets the current needs of users. If the majority of Visa/Master card users simultaneously switch to crypto
This is also the reason why we choose Solana to develop apps
Not to mention Solana promises 1M TPS speeds with optimized hardware
With the above reasons, developing a DEX exchange on Solana in the future promises to bring a smooth experience like you are trading on current CEX exchanges.
We believe that, in the future, soon. Users will slowly move from CEX to DEX. It is one of the fertile lands in the future
That’s why we consider Serum Dex Client as a long-term product, maybe 1-2 years from now.
What is Serum DEX Client?
Serum DEX is an Order Book transaction processing system on Solana. The way it works is not like the DEX exchanges you see today (using liquidity pools). Serum dex uses order books like traditional exchanges
This will be more secure than liquidity pool-based exchanges. Rug Pull will never happen for serum dex
Serum Dex can be understood as a decentralized transaction protocol based on Solana. So what is Serum DEX missing? It is missing a nice shirt/interface, easy to manipulate for users. Therefore, we will focus on developing Serum DEX Client to help people transact more easily on phones in the future. Promises to bring you a seamless trading experience like on traditional CEX exchanges
Next about Lightning Rewards, this is the product that we will focus on developing in the next year. Hope to bring a new product to serve the daily needs of users. That is transfer/receipt/tip and payment. Lightning Rewards will operate on the XSB token token
Thanh Quang Nguyen: The upcoming Lightning Reward will include two parts: users can create a deeplink and provide information on social networks from which others can tip XSB tokens to you. The second is that the SDK will be a button on a 3rd party app, you can click that button to switch to Solareum App to make a transaction.
Tam Ph: It can be understood that Lightning Rewards is a tool to make it easier for you to disseminate crypto to everyone. Solareum will allow each person to generate a link to receive XSB, then will update that link to individual profiles on social networks. To be able to easily get XSB from others
At the same time, Solareum also provides an SDK that developers can easily integrate into their applications. Help the popularity of XSB become more widespread
Hope the above sharing helps you understand the products that the team is developing in the future
3. My question is about your long term marketing plan. How or through what major partnerships do you plan to use to get your product into the hands of the average consumer — especially those who don’t use crypto?
Thanh Quang Nguyen: The biggest difference of the project is using 50% of the token to airdrop to users with the goal of popularizing crypto for newcomers as well as for them to experience the ecosystem that Solareum is developing.
Besides, cooperation with other projects will also help many people know more about the project
Most recently, Solareum has successfully integrated with Jupiter, this will hopefully be a boost to the project
Later on, Solareum will integrate more things such as Game/Apps, NFT or DeFi applications like lending.
1. What is the most ambitious goal of your project? I would appreciate it if you could share with us any upcoming Updates?
Thanh Quang Nguyen: The biggest ambition of the project is to reach 10M+ users and provide them with decentralized financial tools such as: Transfer and receive money, exchange, Integrate with digital services in daily life, lending
As mentioned above, Solareum’s latest update is integrated with Jupiter, this will help you to exchange tokens easily right on our application.
Tam Ph: And we are also working with 1SOL to integrate into Solareum to help users have more options for Swap.
2. To be a great platform for both Investors and users Transparency and security are very important. You can tell us some details about your transparency (like team members) and your privacy mechanism. Have you finished testing your platform?
Thanh Quang Nguyen: In the near future, we will develop a security feature — with a password
Sync user’s seed phrases to apple/google servers, with encryption. It will help you in memorizing seed phrases
The very nature of Blockchain has provided transparency to the entire market. All transactions are public and anonymous.
As for the project, Solareum Wallet was established by Solareum Engineering company with an address in Vietnam and completely under the control of the government. The company will always ensure the legal issues related to the project.
We will regularly analyze onchain data related to XSB to give the community the earliest and most accurate overview of the market situation.
3. Are you interested in the local community to further develop your project? Do you plan to create a community or Global Ambassador Program that will contribute to the growth of your project?
Thanh Quang Nguyen: With the goal of reaching 10M+ users, we always do our best to promote the project through KOLs, influencers and will continue to do so.
There are currently 6 positions of CMs in the team to help the communities in the Solareum ecosystem convey our messages to you as well as answer your questions.
Linking up with other well-known projects like jupiter/1sol/millionsy will also help Solareum become more known.
Finally, the team has a marketing person with a lot of experience in the global market — this will hopefully help accelerate the growth of Solareum.
4. Collaborations and partnerships are one of the cornerstones of making DeFi more widely available. Can you share some of the partnerships you’ve formed with existing blockchain platforms recently?
Thanh Quang Nguyen: Jupiter/1SOL/Millionsy These are 3 quality projects that Solareum has been honored to cooperate with up to now. Despite its young age, Solareum is gradually taking its place in the market
Later we will integrate some fighting games to increase the usability of XSB token
In the future, it is possible to integrate more Defi projects on Solana such as Mango/Serum and enter the Future/lending feature.
5. How do you plan to spread awareness about your project in different countries where English is not good? Do you have a local community for them to better understand your project?
Thanh Quang Nguyen: As far as I know, countries that have strong user support for crypto include: USA, India, Philippines, Indo, Pakistan, Vietnam
We all have CMs who can communicate with the community in these languages, so they can communicate what the project wants to do for the community.
In the future there will be more development communities in other countries and we will always be ready for this
Question for Part 3: Guests will choose 5 live questions from members and answer directly in CryptoFury Community
1. What is the role of token in the ecosystem? Where can people currently buy it? what would be its used? Is your platform suitable for Crypto beginners? Or does it only limited for professional users?
Tam Ph : As you all know Lightning Rewards — Payment protocol will be one of the three main products of Team. And XSB token will be used in this payment protocol.
Currently you can buy XSB right on Solareum Wallet. With Jupiter’s support
XSB will help you give tips to others (like how twitter is doing with bitcoin), or pay for services in games and applications. We will actively contact partners to integrate Lightning Rewards — XSB into their apps soon
Yes, Solareum Wallet is designed for new users. And we have a vision to encourage people who are unfamiliar with crypto to use the app. Through the airdrop of 50% of the total supply of XSB to attract 10M users. Hopefully in the near future XSB will become popular
2. Most investors are focusing on the token price, with no real understanding of the use cases and long-term value of the project. In this case, what are the benefits for investors in holding Solareum? Is there any plan to increase demand for Solareum in long term?
Thanh Quang Nguyen: Here I would like to answer your questions. With the combination of Lightning Rewards — XSB, there will be many applications for XSB token in the near future. Idols, KOLs, influencers can get the link so that viewers can tip them quickly. We have surveyed the market and the need for this is there. Besides, the integration of fighting games will also help increase the applicability of XSB token
3. Do you plan to burn any tokens after pre-sale is done to ensure the higher token value?
Tam Ph: With the current data, we do not have enough information to make a decision regarding this. As you can see, ETH also decided to burn tokens when the time came. We will consider this in the future.
4. Since there is a NFT boom, how do you plan to get most of the advantage from this trend? Is there a plan to implement NFT in an innovative way in order to position Solareum as one of the best projects in this market?
Tam Ph : NTF was not part of Solareum’s main plan at the beginning. But as you say, the heat of NFT is too great, and we don’t want to stay out of this big game.
After all of our plans gradually come into orbit. Our side will spend resources to support users to transfer and receive NTF on the application.
5. In the future, when countries start accepting blockchain and cryptocurrencies, which direction will Solareum develop? What is the target that will aim for in 2021 and long term ?
Tam Ph: As you all know. Crypto is not yet accepted by many countries. Therefore, at the present time. We will use Lighting Rewards for tips/rewards purposes. To avoid legal problems. But still ensure the dissemination of crypto to the community.
You can imagine in a few months. You can create a link to receive XSB tokens right on Solareum application. You can post this link on facebook, tiktok, youtube… so that people who like you can easily transfer rewards to you.
Or you can use XSB as a trading tool in fighting games. Or unlock features on the application. That was the first step of Solareum
In the future, I believe it will be a more open world. People can use the tools they want without being dependent on government domination. That’s what Solareum sees in the future
Thank you for your time on Solareum, hope to receive your companion on the challenging road ahead.