Q&A: Community Hangout #15

Here is a recap of the Q&A that happened over the past week.

1. Milestone-Based Staking

Q: Could you explain how Milestone-Based Staking will differ from the current weekly rewards program? What benefits will it offer to long-term holders?

A: Holding rewards are for those who hold HANDL in their wallet. They can reduce their holding at any time and the reward payouts vary each week based on various factors. Staking on the other hand require a lockup of tokens and predetermined rewards will be distributed to the locked up parties upon reaching certain milestones. The milestones are objective and measurable (e.g. FDV based on Coingecko, total volume of HANDL moved between Base and Canton, etc.)

2. Founders Circle

Q: The website mentions the HandlPay Founders Circle. Can you share more about what this program will include, who will be eligible and when we can expect more information?

A: Founders Circle is a staking program for conviction holders. It requires a min lockup of 3,000,000 HANDL for 12 months. Stakers will get access to a dedicated Telegram group and closer interact with the core team on strategic decisions to build out long-term success of HandlPay. Think of it as a streamlined way to ideate on new features and provide direct feedback to the team with aligned long-term objectives.

3. Buybacks

Q: The tokenomics mention buybacks. What milestones or conditions need to be achieved before buybacks can begin?

A: Buybacks are strategic decisions, and we may or may not announce them.

4. Token Burns

Q: What needs to happen before the token burn mechanism is activated? Is this tied to product revenue, transaction volume or other milestones?

A: We plan to launch a public dashboard on key metrics and burns will be related to those.

5. Edel Finance Partnership

Q: HandlPay announced a partnership with Edel Finance. Could you share more details about what this partnership involves and how it benefits HandlPay users and the wider ecosystem?

A: Like HandlPay, Edel Finance is focused on building "Consumer Canton". There are strong synergies between the two parties and you may expect more cross-collaboration. The Canton ecosystem is still very nascent for most people in Web3, many don't even know how to enter it. More collaboration means better exposure and reach beyond Canton.

6. API for Third Parties

Q: The roadmap mentions an API that will allow third parties to integrate HandlPay. Could you tell us a bit more about what developers and businesses will be able to build with this API?

A: The HandlPay API will enable any third party to make payments to social media usernames, emails, and WhatsApp numbers. Local wallets (e.g. Venmo) could use the API to send payments to international phone numbers, streaming apps could enable stablecoin payments to their creators, etc.

7. Native Mobile App

Q: Besides the UI improvements discussed today, are there any additional features or capabilities planned specifically for the native Android and iOS apps that won't be available in the current Mini App?

A: HandlPay 2.0 will initially be available as a web app and Telegram mini app. We have not decided on a timeline for native iOS and Android support.

8. Escrow Payments

Q: The roadmap mentions escrow payments for social handles that haven't signed up yet. Could you explain how this feature will work in practice?

A: If a user name isn't found in the HandlPay directory, funds will be held in an escrow wallet. The intended recipient will be able to claim those funds and trigger a sign up. If unclaimed, the funds will be returned to the sender. Think about a creator sending a small reward to his audience. Unclaimed rewards will be returned to the creator.

9. Token Fees

Q: The roadmap also mentions transaction fees being captured in $HANDL. Could you elaborate on how this mechanism will work and what impact it could have on the token economy?

A: This is already implemented. If you bridge HANDL from EVM to Canton, there is a $1 bridge fee denominated in HANDL. Similarly, if you send HANDL on Canton, you pay a fee in HANDL. It is possible to pay fees in other assets as well, for example if you bridge USDC, the fee is charged in USDC. However, HANDL will be the unifying fee token even if the initial fee is captured in another asset.

10. HandlPay 2.0

Q: Is there an estimated timeline for the public release of HandlPay 2.0? What are the biggest improvements users can expect compared to the current version?

A: We aim to release the first iteration of v2 by Q3. HandlPay 2.0 is a complete rebuild of the app, from the back-end rails to the UX/UI. Expect an improvement across the board. The new version of the app will have a focus on being easy for non-crypto users to use. New improvements include an intuitive UI, abstracted crypto features, smoother transactions, integrated social data (such as your follower list) and a series of new features (such as batch payments and the ability to link all of your social media profiles to one account) that will be released.