AMA with MileVerse
On the 22nd of September, 2022 at 08:00 UTC, Decentralized Club had the honor of hosting Austin Kim, Relations Manager from MileVerse for an Ask-Me-Anything session on their Telegram page with a community of over 60,000 people. It was hosted by DC Admin, May.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what MileVerse is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 — Introduction
Hello, 안녕하세요, 大家好, Привет, नमस्ते, Selamat!
My name is May and I’ll be hosting the AMA with MileVerse.
Super excited to be doing so!
Hello Everyone! Great to be here with the Decentralized Club community!
MileVerse is a blockchain-based mileage exchange/integrated payment platform.
We’ll learn so much about the project today, but first, let’s welcome our guest!
Welcome to the Decentralized Club 🥳🥳🥳
How’s your day going?
Hi again May! Thanks for asking, doing good today despite bad news around the world
How is YOUR day?
My day is starting out smoothly, thank you for asking as well :)
Could you please introduce yourself to our community? Tell us a bit about yourself and what you do at MileVerse?
With pleasure! My name is Austin Kim and I am responsible for Relations Management with various companies, brands, customers and blockchain-based partners. Keeping everyone updated and expanding our ecosystem is my main job at MileVerse.
You’re welcome to our community, Mr. Kim!
We will have an amazing session, I can tell
Let’s start with some questions about MileVerse.
Can you tell us about MileVerse and its inception story?
MileVerse is a combination of two words “Mileage” and “Universe”, which implies the creation of a new ecosystem in the mileage market. As much as the growing marketplace, we use a lot of companies and services in our daily lives to get a variety of mileage points, and the reality is that we don’t know how much mileage we have and where we can use it.
MileVerse was started to solve the problems of mileage. The MileVerse app makes it easy to solve well-known mileage constraints such as validity period constraints, minimum available point constraints, and usage restrictions. First of all, customers can collect scattered mileage and use it like cash.
What service(s) is MileVerse offering to topple its competitors in the DeFi sector?
MileVerse provides the role of issuing company and affiliated store through mileage point linkage (swap). It provides companies with debt elimination, cost reduction, and marketing effects through facilitation of mileage use, and attracts new customers and marketing effects to affiliated stores.
If customers use the MileVerse app, they can exchange and integrate the mileage of each company that has been scattered into MVP. Accordingly, a small amount of mileage can be collected and used like cash at various affiliated stores within the MileVerse app without worrying about the validity period, and various benefits can be received through various events.
This is quite unique! Apparently, MileVerse is THE COMPETITION!
Can you tell us about your native tokens?
Basically, native tokens can be described as follows:
MVC is an ERC-20 token issued on the Ethereum Mainnet. MVC tokens can be exchanged using addresses individually held on the Ethereum Mainnet platform. MVP of the MileVerse project can be exchanged for MVC tokens currently listed on the exchange. MileVerse provides the smart wallet function for users’ convenience in exchanging MVC tokens, enabling exchange between individuals. Meanwhile, MVC is issued in a limited quantity of 3 billion in total.
MVP is an Ethereum-based ERC-20 token that is easy to issue, stable, and highly scalable, but it is not suitable for tasks that require approval and confirmation of transactions such as payment and remittance, making it difficult to use. As the number of Ethereum-based tokens increases, the number of transactions increases, and as a result, the number of cases in which the network falls into a deadlock is increasing. Therefore, Ethereum-based
ERC-20 tokens with these problems cannot be used for payment and remittance. MVP stores information in the DB to improve the Ethereum payment delay and remittance delay problems.
MileVerse Coin and MileVerse Point! Great! 🎉🎉🎉
Where are these tokens trading at the moment?
MVC is currently traded on Bithumb, Bittrex and Coinone exchanges
Dear community, please join MileVerse with the following links:
Who are some of MileVerse’s partners?
We have several divisions of partners like Blockchain partners: Henesis (wallet solution), Haechi and SlowMist Audit companies, Bithumb, Coinone and Bittrex. Also we cooperate with Media Partners like Block Media and Valued. Most of the partners are franchises that are in our ecosystem such as Krispy Kreme, Ediya Coffee, Megabox, Goobne, Lotteria and others
I see some very familiar names! You’re doing excellently well!
And here comes the last introduction question:
Could you please give us a summary of your Q1 and Q2 2022 highlights and tell us what major news we should look forward to from MileVerse at the end of Q4 2022?
The Q1 and Q2 of 2022 was very productive for Mileverse where most of our plans were achieved such as:
■ Accumulated 100,000 App Downloads
■ Release of Whitepaper 2.0
■ Expanded our Items Available for Purchase via Gifticons to 100
■ Added Five Corporate Point Alliances
■ We provided a service in the app that recommends products to each customer based on their shopping habits.
■We have established a point partnership with Korean Prepaid Card Co., Ltd. Palrago Point. As a result, Palrago Point can be exchanged for MileVerse Points (MVP).
And we still keep pursuing our quarterly and yearly goals accordingly
You have achieved quite a lot this year!
Anything to look forward to? 😃
We keep it within our company and release important news on our official channels, so stay tuned to find out😉
Haha! Okay 🥳
You heard Mr. Kim, everyone. Join to stay updated!
It’s time to answer some questions from our Twitter community!
Ready Mr. Kim?
Segment 2 — Twitter Questions
MileVerse has such great foresight about the Synergy payment platform. It is good but how do you intend on having more real business expansion into the MileVerse?
Twitter Username: @AbayomiNathani2
Despite the severe market condition, Mileverse had another fruitful month where we signed two strategically important partnerships with E-Daily and Galaxia Money Tree. Both partnerships are oriented on development of potential business synergies in terms of network expansion and new brands coming into MileVerse’s milage ecosystem through these cooperations. Also, the development of the new Mileverse App 3.0 version is ongoing and many important milestones were achieved in terms of development.
This is great news! We’re looking forward to hearing other super accomplishments from MileVerse this year and beyond.
I noticed that earlier this month MileVerse signed a memorandum of understanding with E-Daily, so could you explain to me for what reasons this has been done, and also what kind of relevance this has for the continued development and growth of the MileVerse ecosystem?
Twitter Username: @Pirry05Universe
Through close cooperation, MileVerse will be introduced to the wide corporate network of E-Daily for opening new pipelines of communication with brand’s representatives. E-Daily’s CEO also hopes for synergy and integration of payment and point exchange of Mileverse as a fintech solution technology.
In particular, through this partnership, MileVerse will secure a stable customer base and increase the use of points, ultimately strengthening the benefits both for consumers and brands.
Revenue is an important aspect for all projects to survive and maintain the project. How have you been able to build a complete project and what is the way to generate profit? What is the income model of this project?
Twitter Username: @DAD2829
A. We may introduce two major revenue models here in Mileverse.
The first one is the Alliance model. Currently, both Apps and DApp services reward their loyal customers with mileages, but they don’t have many places to use those mileages. Thus, Mileverse is working with various services and is continuing to sign service (affiliate) agreements with the majority of brands and companies.
The architecture of the Alliance model is applied to the cases when the customers of the service A exchange A mileages to MVPs in order to use them like cash. We are currently looking forward to signing contracts with 3 different companies and we also have plans to expand our alliance with 20 companies within this year. The remaining from the exchange operation results in the net profit attributable to the platform.
The second is the App advertising model. Milerverse is planning to generate revenue from promotional areas such as ad banners and mobile push notifications in the application. First of all, two companies will start advertising as early as this month, and it will keep growing with the passage of time.
In addition, we will generate revenue through partnerships with all companies issuing credits and with customer rewards programs.
Mileverse aims to meet BEP with 1.6 billion KRW in revenue in 2022 and 2.9 billion KRW in 2023.
A minute for the community to read 😃
Take your time 😌
Security audits are extremely important for any project, especially those that deal with user funds. So, can you explain if it has been audited to convey confidence and security to the crypto community that is interested in investing in your project?
Twitter Username: @Ramisha00
This security audit, accomplished by SlowMist, has validated the stability of the ERC-20 based MVC token. MVC token has passed a total number of 13 security verification clauses of SlowMist and has been confirmed that it can be listed on the cryptocurrency exchange.
Well done! 😉
Could you tell us a little about MileVerse’s greatest achievements last month, what is MileVerse working on right now? What are the main thoughts you want to convey through today’s AMA?
Twitter Username @Sheezasizzilng
As I mentioned before, the business development of Mileverse is actively developing. Since we work mostly with traditional businesses and brands the crypto market winter did not have much negative effect on our operations and Mileverse’s ecosystem is growing. Development is another priority for our team since every app update we try to bring the best version of the app with all feedback from users and our partners. And finally, I wanted to say that we working as hard as before and keep doing in the future
MileVerse is an excellent project and we do wish you the very best in the execution of your roadmap.
Dear audience, it’s time for the Live Telegram Session — the most anticipated segment of our AMAs.
Here are the guiding rules:
Dear guest, in this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.
Please pick five original questions to answer.
Try to ignore generic, vague, and copy-paste questions 😊
We will also include a special keyword to see who is paying keen attention.
Dear community, in your questions, please include this keyword “MileVerse is the future of mileage”
The group will be unmuted in 10 seconds.
— -Chat was then opened for the live community to send in their questions — -
Segment 3 — Live Questions
Chat is muted!
Thank you for your questions, everyone!
Dear guest, as a measure to deter bots and reward hunters, “MileVerse is the future of mileage” has been included in the original questions so you can tell them apart.
Please prioritize such questions 🥳
MileVerse is the future of mileage
Mileverse is a project based in Southeast Asia, so i want to be more clear if #mileage will be available to use anywhere in the world ?
The MVC is currently operating in South Korea only, however we are aiming for the Southeast Asian market as our next market entry strategy.
In your website you mention that MileVerse works with a dual token system: $MVC and $MVP, could you please explain us what will be the use we can give to these tokens within your ecosystem and what are their main functions?
“MileVerse is the future of mileage”
Customers exchange mileage obtained by using each company’s products or services for MileVerse points. In this process, constraints on existing mileage services are removed from the MVP exchanged by the customer, and the exchanged MVP can be used without any constraints.
𝙋𝙄𝙉𝙄𝙆 𝙍𝘼𝙅𝘼) 𝙄 𝙒𝙞𝙡𝙡 𝙉𝙚𝙫𝙚𝙧 𝘿𝙢 𝙔our First:
I read that currently MileVerse provides smartphone application services. Can you tell us the main function of this MileVerse App? What kind of innovations will MileVerse offer and how easy is it to use?
Mileverse is the future of Mileage
It provides companies with debt elimination, cost reduction, and
marketing effects through facilitation of mileage use, and attracts new customers and marketing effects to affiliated stores.
🚦 What is the target market of Mileverse? I read on your white paper the problems it solves from the customer and company point of view. So is it oriented to big companies?
We are oriented on both big and medium size companies, franchises where mileages can be integrated and MileVerse solution can be applied
On your website you don’t mention that you have done any internal or external audit of your smart contract, so can you give us details if you have done any audit before? And in case you haven’t, would you plan to perform any review of your smart contract in the near future?
Our smart contract was audited by one of the most reliable audit companies in the world SlowMist and the result of audit can be found both on SlowMist website and on our social media announcements where we posted smart contract audit report
Can you take some more questions? I see some pretty good ones 😄
What is the marketing strategy you want to use to convince the public about your project?
What system do you want to use in achieving this goal?
What have been your challenges so far in the journey of this great project?
Can you tell us about your equity token and liquidity token?
Mileverse is the future of mileage❤️🥳🥳
The best marketing strategy that we use is bringing more brands on our platform and integration of mileages provides our users with more possibilities. In addition the user base of any brand that joins our ecosystem has access to new tools in their shopping habits.
Aaaannd it’s a wrap! 🎉🎉🎉
Thank you May and Decentralized Club! You are amazing and we had a great AMA session with you!
Thank you for the intricate details about your project!
This was an exciting and enlightening session! We learned so much about MileVerse ✨
Any closing remarks for our community?
Join the Mileverse official Twitter and Telegram to not miss any news
A standing ovation to you for being a superstar guest!
Our warm regards to the rest of the MileVerse team at the HQ working to make this project a success! 🥳
You are a super project! 🥳
We at Decentralized Club wish MileVerse all the very best!
Until next time, do have a great day!
Dear community, please join MileVerse with the following links:
The AMA with MileVerse is now over.