Dear, Community,

Welcome to the recap of our AMA with Props.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Props is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉

✔️Introduction with Props : 👉

BILLY:
Q1. Can you provide a brief introduction to the core team behind Props ? @AdiSideman

Adi Sideman (PropsProject):
Very happy to meet the community here. Sure.

We are 15 people, about half in Product and engineering and the rest in finance, operations & marketing.

The core team is in the US, and in the past year, we added several colleagues in China.

The core of the core team has been working together for years before we started Props.

We worked together to create non Crypto digital currency before we started Props in 2017

My background is in running large consumer networks at scale

I co-founded the world’s first online Karaoke (K-Solo) — which sold to Fox/MySpace at the height of Myspace.

I then founded the first mobile, at scale, live streaming service in the west (YouNow), which grew to over 120 Million User sessions/ month.

At YouNow — we sold close to $100 Million Dollars worth of that (non-crypto) digital currency over the years, and became experts at running a digital economy, at scale.

BILLY:
So I can safely say you have more than enough experience in launching and managing complex and challenging projects. All the more important to instil our trust on Props !

Adi Sideman (PropsProject):
Thank you. We are cenrtainly approching it from a mass user base standpoit — not a niche

And as such, our approch is to bring Props to Apps, not dApps

We have today 7 apps that joined the network — and 4 that have launched Props

All with hundreds of thousands or Millions of Monthly Active users

BILLY:
Awesome

Q2. What is Props trying to achieve basically ? @AdiSideman

Adi Sideman (PropsProject):
And we have over 8 Million Props Token holders across the network

In an nutshell: Enabling uses to be fairly rewarded and enabling businesses to align with their most loyal users to improve business performances and bootstrap growth.

Props is a work / discount token that unlocks user benefits in the apps that adopt Props.

One way to think about Props is as a cross between traditional loyalty points and capital.

Another way to think about it is: tokenizing loyalty points and imbuing financial value into them.

Props value is backed by the aggregate utility it provides to its millions of users across all participating apps.

We arrived at the inevitable conclusion that:

The power of Blockchain and crypto is so valuable that existing mainstream, web 2.0 business,
%99.9 of all apps today — will want to leverage it

- they will do it WITHOUT decentralizing themselves

- but BY adding a decentralized, trustless asset class layer that enables partnering with their users.

So mainstream apps can align with their users with to achieve business optimizations — and improved business performance by incentivising users with a utility and a stake in the network they help grow

As such — the props ecosystem provides tools for mainstream apps:

off the shelf APIs, Admins, Webviews etc -

So Apps that join dont need blockchain engineers ar to do heavy lifting

That’s our approch.

BILLY:
That’s a very important use case being served . 🙂🙂

Q3. Which is that milestone of Props that you are most proud about of achieving? @AdiSideman

Adi Sideman (PropsProject):
We started the project in 2017

We launched on Main net in March 2019

In July 2019 we were qualified by the SEC

The first and only consumer token to be qualified

By Sept 2020–4 apps that have launched each with millions of users.

We arer expecting the 5th app , Tegger, to launch this month

Each new app coming to Props is a milestone.
Proves the model + achieves case studies to convince other apps
growing the network
- towards bigger network = greater value
and network effect
- bootstrapping us.

Lastly — we listed on exchanges a few weeks ago — which was a big milestone

It enables the Millions of Props holders to make a choice: do they value the utility in the apps and wish to hodl or not value it — and claim

We are very excited to see users valuing and HODLing

Finally they have access to buying and selling Props

BILLY:
Milestones after Milestones achieved and more to come !!

Adi Sideman (PropsProject):
We expect to announce 2 more apps joining in the months ahead.

BILLY:
Q4. What is further planned for Props in 2021 ? @AdiSideman

Adi Sideman (PropsProject):
Thank you Billy!

1. Focus on Growth:

There are 2 main ways to add users:

a. Apps using Props growing and introducing Props to more users.

b. More apps adopting Props.

We are unique in a sense that our Total Addressable Market — is huge:
- traditional consumer apps that wish to leverage the power of blockchain.

2. We are investing in making it easy for Apps to join:

a. Facilitating easy to use tools.

Adi Sideman (PropsProject):
b. Providing grants to apps — bootstrapping our network development

We are growing our bizdev team and providing — at this stage, white glove service to apps that join and bring value

3. on the Product side:

This year, we will be introducing Staking and governance.

The first stage is an upgrade to the Props Protocol rewards, whereby app rewards is governed by the amount of Props staked towards the app.

App Users, apps and speculators all selfishly chose which app they believe most in — and should get more rewards.

We are also laying the ground-work for App tokens (Props is a network token) — whereby reach app can have its own liquid token and props can become an ETF-like governor of all App tokens.

So that’s the big picture highlights

BILLY:
Thanks for the detailed introduction to what is Props all about and also its impending future . It was indeed a very insightful journey into Props. Now let’s get some answers to our best Twitter questions. Let me share them here . 🙂 @AdiSideman

🐧Community ask Questions by Twitter ✔️

BILLY:
Twitter question no 1.
From : Araminah

PROPS is a work or discount token that unlocks user benefits in apps that run Props. So may we know how many Apps does PROPS currently have now & do you plan to add more App with significant user base in the near future?Also What are the plans to increase the user base of Props?

Adi Sideman (PropsProject):
Good question Araminah.

There are 4 apps that have launched — and another launching this month.
Launched: YouNow, Listia, Camfrog, Paltalk

Each with hundreds of thousands or Millions of Monthly active users:

a 5th is Launching this month: Tegger.

We are adding more apps and existing apps are adding more users.

And we are growimng our Bizdev reach — evangelizing network development through Marketing and direct channels.

BILLY:
Twitter question no 2.
From : DEVARA

How easy is it for apps to integrate with Props? Can you tell us some of the enhanced tools you plan introducing to make the integration further simple and stress free?

Adi Sideman (PropsProject):
Thank you for your question, DEVARA. Here is a quick answer:

We make. it easy to integrate.

Provide REST APIs for web, iOS and Android.

Admin, for the app deploying Propsd, to configure, manage and get real time reports

Also — for end users experience —
Loyalty (Webview) module for users to always see their balance and what benefits they unlock once they earn more props.

and Financial (webview) module: to enable users to claim, KYC/AML, connect wallet etc.

So that apps dong need to build it themselves

here is a screen shot from the admin tool

where the apps can configure their own loyalty module for their users

BILLY:
Twitter question no 3.
From : Mujeeb Rahman

One of the larger value-adds that Props works to provide is to help increase revenue and engagement with an app’s users. How has the integration done so far in helping with these activities

Adi Sideman (PropsProject):
Mujeeb Rahman — you are up next

The apps have full flexibility as to whom they issue Props to , for what action, and how much — so they use this incentive of ‘token back/ financial value back, utility back’ to encourage the actions they want to drive:

For example — if I am a product manager I may want to drive: more spending, more co tent creation, more refferals etc.

Here are some case studies of apps using Props -

Adi Sideman (PropsProject):
by aligning with their users — and rewarding them with a financial stake in the network, for taking valuable actions — Participating apps increas engagement and revenue of their core business

Props is not to replace their business model

Props is to compliemnt it and enhance it

Props is not a transactional currency

But more akin to loyalty points or experiemnce points
Think airline miles…

That gamify and create loyalty and enhance the existing business

And at the same time, apps that do well, that launch a good utility

Can not only enhance their business results, but also mine more tokens from the protocol and build an additional value to their business by adding props to their treasury

I hope that helps answer the 3 questions from Twitter

Thank you Mujeeb, Araminah and Devara

🌍 Community ask question by Website 👨‍💻

BILLY:
Website question no 1.
From — Sampurna ( telegram ID : @sampurna19 )

on the final page of your website :
“the holder must be ready to hold the Property indefinitely, as there is no guarantee that the holder can sell or exchange their Property or get a financial gain from their Property”. can you explain what you mean in the sentence above?

Adi Sideman (PropsProject):
Good question, Sampurna

These are standard legal risk disclosures.
Utility tokens, in general are not guaranteed to generate profit or even trading — but to unlock benefits and have a utility. so people need to know. You will find such language in the small print of many projects.

BILLY:
Website question no 2.
From : Zafer Metin (Telegram ID : @zaferce)

How will coin holders be encouraged to get users in-app benefits and how much financial share will they get in the network when they help grow?

Adi Sideman (PropsProject):
Answer: The apps are encouraged to get Token holders in-app benefits — as the apps earn more Props tokens from the Protocol, the more demand they drive for Props.

So lets take an example: if an App (app A) gives no benefits, no utility, and simply rewards users with a token — and the only thing the users can do with the token is cash it out

- — then the users will likely do so and cash out and by that, increase the supply.

That app — will be a burden on the protocol, and will not earn any protocol rewards.

now — Lets look at App B, for example -

App B gives utility for token holders: Unlocks Discounts, unlocks exclusive content, gives a daily stipend: then the token holders are more likely to hold, and even buy token — generating demand for the Token -

- in turn, the Protocol will identify that App B is driving demand and will reward it with Tokens.

So the interests are aligned — to drive demand.

Adi Sideman (PropsProject):
Website question no 3.
From : John (telegram Id : @john_dook)

What are the guidelines or requirements to apply for a Props Grant ?

Answer: Any app can apply for a grant on propsproject.com. The Props Public Benefit Corporation assesses grants based on 2 main criteria:

a. The user base size
b. The Props integration plans submitted

Grants to apps are meant to bootstrap the Props ecosystem and drive early adoptor apps that can add value to join and bring in users.

We have been very fortunate with apps with millions of users joining.

I hope tihs helps answer the questions from the web

Its good to meet everyone in tis active community!

you can find more information at www.propsproject.com

BILLY:
Brilliant answers. I am sure the question askers are satisfied

✍️ Telegram live Questions answered by Props ✔

Shihad K:
How do you envision the future of your continued evolution of the loyalty rewards program you have in place?

Adi Sideman (PropsProject):
A: Great question — As you may recall from the above — we are focused on Apps — not dApps as our goto market

As our way to ensure mass adoption

So we are effectively creating a channel into millions of users

And many mainstream apps

Whereby Props is the first digital asset they are adopting and users get familiar with it

Apps will NOT likely integrate many tokens

Its complext to understand one or two cusrrencies in each app

So we have an opportunity now to capture market share early and be integarted into apps

And then over time, expand the product offering to additional blockchain products that work off Props and add Value to Props

Like NFTs

Which many apps will need

Or app tokens that are correlating to an apps performance only

Etc.

That’s our approch to build on the loyalty token which we are getting into the market now

MoonLord:
There are users who do not know anything about cryptocurrencies and could easily lose their tokens. Do you have a solution to this, like a centralized wallet?

Adi Sideman (PropsProject):
A: You are right

97% of users know nothing of blockchain and will get confused

as such, the apps issue an IOU (what we call Pending Props) to users -

So the users dont need to take custody , until they are ready to claim

At that point — when they have $20 or 50 bucks — they are motivated to learn more and watch a video and educate themselves and hop through some hoops

to take custody if they want

So its critical to intriduce no friction for mainstream app users

Hermawan | Trader✓:
What is your long-term Vision of the industry where the Propsproject works? Are you afraid that one day there will be another project with more innovative technology that can replace Propsproject ?

Adi Sideman (PropsProject):
A: As Amazon CEo said: its always Day 1

Of course — this is a very lucrative market and there will be many entrants into it

Our approch is to drive early adoptors, create case studies, prove the model, and be ready with the right tools that are familiar to mainstream apps — so that when the market matures more, when success stories start to surface

and more and more apps will ask themselves — how can I leverage the power of Blockchain/ Crypto -

Then we would be the proven solution for them to adapt

And then continue to innovate

And a big part of that is to hand goverannce to the token holders,

So that development can scale and adoption can scale along with it.

I hope that was useful — And thank you for all the good questions

Roadmap and more info here

https://www.propsproject.com/token

It was great to spend time with everyone!

We will take one last question

Adi Sideman (PropsProject):
Do you think your system is secure enough? How safe is your system in securing funds and user data?

A: Security is paramount. Props Smart Contracts are audited by Zepplin, one of the. ost respected Auditors in the space

We continue to invest in security and have never had an issue and will continue to subject our code to reviews and audits before it launches each and every time

Pls visit us here — for more information: https://www.propsproject.com/token

Looking forward to doing tihs again soon!

Take care everyone!

✔️Thanks to all of our Community Fans✔️

Have a Great Day

Edited by : 🌿DK✍️

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