New AMA Session 💥
Hello AMONers! Today we are presenting a new edition of Questions and Answers with Daniel. This time, he will talk about Amon Card, Amon Artificial Intelligence System and AMN Token. So, let’s start!
Who is the card provider and the cards will be supported VISA or MASTERCARD?
Moorwand, is a UK based issuer. We are keeping the applications open with more Card Schemes so we cannot say it yet.
What are the fees for using Fiat for purchases and can any fees be paid in Fiat if purchase uses Crypto?
There is no fee when purchasing in Fiat, it will be a regular card. If payment is made in crypto there won’t be any fee as well, there will only be a conversion crypto-fiat without any commission.
The programme is in a phase of discussion, we have set fees, limits and all the policies around the card release but we prefer to release this information when they will be approved.
What are the requirements and benefits going to be for different tier cards?
To begin Amon will release one card with different benefits based on the amount of AMN tokens held. Amon will also provide special benefits for our ICO users.
Will Amon provide some other benefits like Netflix/Travel/… for holders like other competitors?
We are not planning these types of benefits yet in the first release, we will be focusing first in offering insurance-related services attached to the card product.
What are the limits of the cards (daily, monthly…) and the fees? How many tokens are needed to have a feeless card/wallet?
Limits of the card will be standards like many other cards. For compliance reasons these limits are pretty standard and can be increased upon request by every single user. The programme is in a phase of discussion, we have set fees, limits and all the policies around the card release but we prefer to release this information when they will be approved.
Will there be also a virtual card? Can the card be used with the NFC feature of a smartphone (like other cards)?
There will not be a separate virtual card, the physical card will be used also as a virtual card. NFC will be added after the launch.
Will there be all the 3 payment configurations (single coin, select coin at PoS and simple AI) available from start?
There will be the possibility to select the preferred coin to spend. This functionality will be explained more in detail during the release to make sure that the usage will be clear.
How does the work with the AI go?
We are in a good spot and we would like to release the first version but we focused in last months on all the compliance aspects for the card launch, KYC, IBAN and some security measures required by our issuer. We hope to be able to release one functionality in Q3 of this year.
How does AI work?
It is based on three layers that are placed in an AI section of the wallet:
– Trackback Historical Performances
– Analyse Past Data
– Get Notifications on Trends
– Take Better Investment Decisions
Risk assessment analysis:
– Define your Risk Strategy
– Analyse your Portfolio Risk
– Get Notifications on your Portfolio Risk
– Take Better Investment Decisions
Short Term Forecast:
– Analyse Short Terms fluctuations
– Discover Short Terms Forecasts
– Get Notifications on Short Term Forecasts
– Take Decisions on your next Exchange
Possible to Add Price Alerts in future?
This functionality will be along with the AI
Will it be possible to do SEPA payments to others, and receive SEPA payments (for example the salary) like a personal account or only from the same name bank account?
Until Amon will not receive the E-money Licence (EMI) will not be able to offer this service.
Will it be possible to receive an email/telephone message notification every time I receive/spend my cryptocurrencies?
We will send a notification every time there is spending or activity in your wallet.
I learned just today that the card will initially be launched in EEA countries. As an ICO participant, I don’t recall this being mentioned at that time, it sounds like a later decision by the team. How soon after EEA launch will you expand to the other countries that were permitted to participate in the ICO and who were promised cards?
Unfortunately, it is not possible to launch cards on a global level from day 1, therefore, we will launch the first in EEA countries. The launch in other countries will depend on different conditions and availability of our issuer. We will release more info after the launch in EEA.
When will we be able to earn interest or stake AMN?
We have a pipeline of priorities for the AMN token and we plan to release the first functionality of AMN which is not in the market which is to earn for every time that users do an exchange. Example if you exchange 1 BTC to ETH we will give a % of interest in AMN token and we will use the margin of the exchange rate to buy back the AMN tokens.
Is there a specific ETA for additional Fiat currencies?
February we plan to launch the EUR and GBP will come next with the release of the card.
When will the wallet support deposits from GBP and USD?
We plan to add GBP with the card release. We do not have yet an estimated time for USD, we will evaluate it after the card launch.
When AMN pairs are activated in the exchange?
Since our main activity is on Bancor and bancor is a liquidity exchange we would need to get listed on a more known exchange to connect it with the Amon wallet. Not only would we need a bigger exchange but we would also need the liquidity of the new exchange would allow the transactions. We aim to do this during the card launch.
Can add the blog section in the App?
Rather than the blog, we are planning a news section in the APP
For the wallet has Amon considered a round-up option for POS that allows users to save a selected amount at each purchase?
These functionalities like the round-up or Vault will be added following the card release.
Are there plans to launch AMN on some larger exchanges once the cards start being issued?
Yes, after the launch of the card we are planning to list AMN Token in new exchanges
That’s all for today. If you have any query about it, then comment down below or send us an email to firstname.lastname@example.org.
Thank you & Good Luck!