AMA session with LunchMoney 20.08.2021
On the 20th of August, Discovering Crypto Club hosted an AMA session with such a promising project as LunchMoney (LMY), which delighted us with future collaborations, products, sales, and rewards. Here you have a recap of what the AMA looked like.
Host: So, for the people that don’t know you yet, can you please introduce yourself in a few words? And also, please make us a summary of what LunchMoney is.
Adrian: I’m the Co-founder of Lunch Money I have been in crypto since 2012–2013 we started Lunch Money in 2017 in the height of the bear market... Lunch Money is a loyalty reward platform where we incentivize patrons to go out and eat at any restaurant provide feedback on your experience and receive our native token $LMY
Part 2: Twitter questions
First question from user Sheikh7892
How do you plan to promote your project in various countries where English is not spoken very well? Do you have a local community so they can better understand your project?
Adrian: We are working on translating the platform in different languages, were also looking for someone to create different Lunch Money groups in different languages...
Host: Which languages are the first on your list?
Adrian: Were thinking Spanish 1st then Arabic next probably Chinese or Russian after
We have inked a deal with a platform that will enable LMY to be purchased with debit or credit card will definitely help with adoption I will release more info in our telegram group...
Second question from user johnnycrypto0
In your whitepaper, we can see that there are only 9 team members. Don’t you have any other people that work for Lunch Money? Do you plan to expand your team soon?
Adrian: Actually it’s only a 2 man team now just me and our CEO.. We will be adding additional team members as time goes by that are beneficial to Lunch Money and the success of the project… we don’t need faces on the team who don’t actually contribute.. we have made a lot of progress being a small team…
We have Bootstrapped Lunch Money with no outside investment we have managed to do alot with only a 2 man team...
Third question from user Ohidovy
In how many ways your project generate revenue? What is the revenue model? How it can be beneficial for both investors and for project itself?
Adrian: One way of Lunch Money’s revenue will be generated by providing restaurants with the data we provide from our users eating at their eatery’s also ad revenue as well as listing other projects on our platform to be used as a reward…. this will benefit our investors and the project by capitalizing on the market share of this untapped industry in crypto…
Host: Can you please share your tokenomics?
Adrian: Lunch Money has 189,000,000 total 122,661,209 in circulation we are a Erc-20 token… currently trading at 0.0027633 according to Coingecko.. marketcap 338,953 at the moment….
Fourth question from user jchika46
Security & User Interface are the Most Important Aspect that Users see on a platform. How has Your Project worked on this? Is Platform suitable for Newbies in the crypto world?
Adrian: We take security very seriously on are platform we dont hold anyone’s tokens you have your own inapp wallet… also you can connect any wallet and send your LMY to whereever you want.. yes our platform is very suitable very newbie crypto users your earning for doing something you already do “EAT”
Fifth question from user Niqabna
How secure is the audit on your project, nowadays there are lots of hacks and spam also everywhere, is your project being audited internally and externally? How do you keep all investor data safe?
Adrian: We have had 2 external audits one with Blockchain consilium and another with Crypto asset rating…
Part 3: Telegram live questions
First question from Telegram user @DomenicWaugh
Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users invest to your platform in the long-term?
Adrian: Lunch Money has positioned itself has a leader in the crypto food space we are the first to create a gig economy where you can earn our LMY for providing feedback at your favorite restaurants it’s as simple as 123.. to bring in mass adoption it has to be simple and easy to use …
Second question from Telegram user @CarieYoder111
Can you give us an overview of Project economics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn?
Adrian: LMY is designed to appreciate as we grow more users of the platform yes we are adding staking soon and we burn a percentage every year and as we get more partnerships that will help with the token also..
Third question from Telegram user @DaniaNagy
Adrian: This is actually being worked on now…
Fourth question from Telegram user @EleaseMcclellan
Adrian: We adapt to the ever-changing industry we are well suited to keep pace with new trends are vision is to give the opportunity to people for doing something they already do and have to to survive so why not get a reward for it…