Last May 27th, we held a live AMA session where Roseon Core Team members, Mr. Allan Ta – Founder & CEO, Ms. Lynn Nguyen – Business & Development Manager, and Ms. Danie Le – Marketing Manager, answered questions from the Global Telegram community.
Here’s the list of the questions answered during the session:
Q: The cryptocurrency market is in a downtrend, so does the Core team have any plans to develop Roseon during this period?
Allan: Maybe Danie can share how good our app is. Even though our price and the market is really down, what are we doing from a Marketing perspective?
Lynn: Yes, please share what’s going on in our app. Some updates about our upcoming plans.
Danie: Hello guys, so I will share with you some updates. After 1 year of launching, we have 120k downloads for both iOS and Android. We have 54k KYC users. We have a lot of updates coming soon and more details will be released in the coming days.
To sum it up for June:
- Kickstart the whitelist for beta testing of our 3rd mini-game, Goblin’s Attack. We will support 1000 users for this campaign.
- Game Store where users can purchase Mystery Loot Box and win various NFT characters and items
- Unlock 150 levels of Zombie Warriors, our 2nd mini-game that’s already live on our app
- New farming pool (Beefy integration)
- Fiat on Ramp integration with Banxa where users can directly purchase tokens using Apple Pay or their credit card.
- VIP Upgrade with 3 new levels
Lynn: What about the launchpad? Are we slowing down on the launchpad?
Danie: Right now it’s a bear market and a lot of projects decide to postpone their launch. But we are still in discussion with various projects from DeFi, GameFi, Metaverse, Move2Earn. At least for June 16, we will have an IAO from Elf Matrix, a promising Play-To-Earn game inspired by the classics like CryptoKitties and Pokemon.
Lynn: Thanks Danie. I believe we’ve shown that even during the bear market, we still work and build our products behind the scenes. This just shows how we take the business seriously.
Q: In dealing with developments in the metaverse world, what strategies have the team prepared to compete in the metaverse world?
Allan: That’s a tough question.
There’s a couple of steps that we are going to do to achieve the metaverse. The first step is that we’re going to transition the app from centralized into a web3 app. That will be Step 1. Once we complete the web3, that’s when we can build the metaverse.
Right now, as you can see, the ‘metaverse’ is not ready. There’s not a lot of adoption with the metaverse yet. Even if we were to build and spend a lot of money and effort, a lot of people are not used to it and are not using the metaverse. So we still have time and we plan to do it. But we plan to do it slowly and carefully.
We plan to continue building the mobile app. As you can see, we’re doing a lot of stuff on the mobile app and we’re going to start building the web3 app soon.
The reason why we’re doing web3 is because we recently had a poll and the majority voted for that. So we are listening to you. We kind of re-shuffled our roadmap to meet the demand. We are doing this while still building on the mobile app. Once the web3 app is ready, we will move on to the metaverse.
This is a long journey and there’s no rush. There’s a lot of metaverses in the market but there’s not enough adoption..
Lynn: So we’re not in a rush to complete it. But do you think if we wait, we are staying behind a lot of projects.
Allan: No, because we’re still building a lot of things at the moment and all of those will be ported into the metaverse anyways. So we’re just doing the non-3D version first, then comes the 3D version.
Q: In the GOBLINS ATTACK whitelist, I find MetaStrikeHQ partnered. So I want to know what kind of role MetaStrike partnership will play? Does the Goblin’s game need NFTs to play? What is the role of NFTs in the Goblin game and how to buy NFTs for the game?
Danie: So if you already follow us for a few months, during those months you should have seen our partnership with MetaStrike which has been there for a long time. We incubated them, and launched their project, had some token staking and is continuously part of a co-marketing initiative with MetaStrike. The Goblin Attack beta whitelist is part of this partnership as we want to acquire more gamers and create hype for our 3rd mini-game.
So does Goblin Attack need NFT to play? Users don’t need to pay for the NFTs as they can play freely using Rose Points. Our Game Store will be released next week. User can use Rose points or ROSN token to buy Mystery Loot Box and unlock various NFT characters. Each character will have different skills and abilities.
Lynn: The MetaStrike team is actually based in Hanoi, but right now they are in Ho Chi Minh city and we share the same office. Everyday we have a lot of fun and we share a lot of building knowledge with each other.
Q: In your recent update, I noticed that there is a burn mechanism for $ROSN every month. What revenue percentage is used for buying-back and burn of tokens and what factors determine the amount of $ROSN to burn each month? Will token burn continue in perpetuity?
Allan: We are making some revenue but as the bear market approaches, not only our token, but all of the global crypto market has tanked. Our revenue has reduced a lot. So there are two things that you guys need to know. We take some revenue and we burn them. We actually burn part of our supply. So when our revenue is very small, we burn some of the revenue, but the rest is burned through the supply.
For the last 2 burns, we burned through our supply. But moving forward, we will burn both revenue and supply. But in the end, mathematically, there will be less tokens and therefore, the price has a greater value every time we burn. And the plan is to do this every month for the next months. That’s the plan and we will continue to do it.
Q: This is a great app! I found that this would be a great way to help my friends who aren’t very technical invest in crypto, farms, etc. So I guess my question is will people be able to purchase crypto directly through the Roseon app soon? I found that I still had to trade tokens on pancakeswap then send them to my Roseon address. Are you looking at ways to simplify this process?
Allan: The answer is yes. June 1st. We’re releasing our Fiat on-ramp. This means that you can buy crypto in our app directly now.
Danie: One more part, we actually have our own in-app Swap feature where you can exchange from any tokens on Roseon. So like Allan mentioned, we will have Fiat on-ramp soon. Users can use credit cards to buy specific tokens like BUSD or BNB, and then they can swap these in the Roseon app. I believe this will help a lot of non-crypto users to get into the crypto space.
Allan: We will also integrate with Apple pay, so if you have an iPhone, Apple ID and Apple pay, you can actually buy crypto on our app on June 1st. So this is a feature we are releasing.
Lynn: That’s great news. Actually our swap now only supports BSC and ETH, but in the future, we might support Solana swap as well.
Q: Mostly all the project has Metaverse concepts and has 2 tokens in the project one is governance and other is game token and both are tradable. Do you plan to list ROSE or plan to bring in new game tokens in the market?
Allan: We are working on that. Eventually the Rose point will be a token. We are still planning everything, timing all these things properly, we’re building the web3 and are waiting for the market to get better.
But yes, there is the intention for Rose Point to become a new token. We also have plans to have a governance token as part of our token system.
Q: Many projects look great only on whitepaper but are facing a lot of difficulty when trying to implement. How does Roseon overcome all these obstacles in development?
Allan: If you’re a user of our app. You will see that we have overcome all development obstacles in development. We have built an app, it works. And there’s actually 120K users. Anyone can download the Android or Apple app.
We built what we promised originally for our mobile app, except for one, the NFT marketplace. But we have added so much more like games, a launchpad; and now we’re building web3 and we’re building a metaverse. Everything can be done, it just takes time to do them. It takes planning. Sometimes we need to listen to the community so whenever we do a poll and that poll runs for a whole week, we will collect all the information. Then we have to readjust our roadmap to change to what the community requested for.
We saw no obstacle, we actually kept building, and are still building. Well I guess time is an obstacle.
Q: NFT or DeFi, or any game projects always has risks for pump and dump. How can we be reassured that we won’t get dumped once we reach a good price like $LUNA.
Allan: First of all, we are a licensed app. For us to be licensed, we have to undergo KYC and AML with the licenser. We have to do a lot of check-ups. My name is on the company files and I am the one who is licensed for this app. I’ve been in crypto space for a long time. I’ve been here since 2016 or 17. I don’t intend to pump and dump.
But the situation of $LUNA is different because the product that they are building is algorithmic. When they created this project, there were already a lot of people who doubted the methodology behind that. That was the downfall of $LUNA and $UST. More of a technical issue. But for us, we don’t have a stable coin. I have not committed any crime as of today, and I don’t plan to. So the trust is with me and the license.
Q: What is your strongest advantage that will make your team successful?
Allan: I think our advantage is we build quite fast. We’ve been building since we started and we’re continuing to build. The team is at 30 people now and we have half of those on Marketing and Community.
The other advantage is we’re trusted. A lot of people like and want to work with us. Even as a launchpad, we have not scammed anyone yet. We don’t plan to. We have not scammed any token and we launched them successfully. Now the result of the token is because of the market. But we have not had any complaints from any of our partners. We have about 50-60 partners to date and that’s a lot of work we do on the Partnership and Marketing team.
Not only are we a trusted brand, we build and will continue to build this awesome app. I think a lot of people want to work with us. Everyday we receive requests for projects who want to work with us because we’re a very clean cut company. We don’t do anything funny.
Q: I have two questions: 1. About the web3 in the question you just answered, are moving from a central to a web3 kind like Pancakeswap/Ape Swap. So by web3 do you mean we are going to be a decentralized exchange? 2. If I am holding $ROSN, I want to know and understand about the revenue streams of the company. How many revenue streams do we have to keep the company running even in the bear market.
Allan: These are very good questions that come from somebody who is an entrepreneur or knows about how businesses work.
To answer your question about web3, our original roadmap is a CeDeFi app. CeFi is centralized, DeFi is decentralized. We kind of changed that into a centralized app with a decentralized wallet. So we will give you the ability to manage your own wallet like Metamask, instead of Roseon managing it. So as if you were using Roseon as a Metamask, you can use Roseon, stake with Roseon, play games with Roseon with Metamask.
So yes, it will do the DeFi stuff like Ape Swap, Beefy and Pancake Swap. But it will also allow you to manage your own tokens instead of us managing. That’s to give people the power back. We want to give you the option. In this new world, it’s about giving power to YOU, to the USER. so why not give you the power to manage your keys.
Now about the revenue streams. In a bull market, we make a lot of revenue. Including the launchpad. We make a lot of money from the launchpad, from the swaps, staking, farming. We’re going to make revenue from the games and from the NFTs. So these are going to be the two new revenue streams.
Behind the scenes, we are also working on a B2B business. What we’re doing is we’re selling a white label consulting services to new crypto businesses so we can help onboard them. Any project that wants to build a similar app as us, we can help them. That’s another revenue stream we have decided to go with. That way we can increase our revenue so that this company will last forever.
You will see the roadmap keep growing and new things are being added. We plan to do a new roadmap each year so that when we finish our roadmap, we have a new one ready. We want to continue building this company. We plan to become one of the biggest app in Asia. That is our current goal. To become the biggest mobile crypto app, or WonderApp, in Asia. We will not stop until that happens.
Q: How can the founders educate their investors to understand that there is more to the project than the price?
Allan: About the price, as the founder of this company, I look at the price everyday. But I don’t only look at our price, I look at Bitcoin, I look at everything. These are not the greatest moments in crypto. I’ve been in this space since 2016 and we are in the worst moment in crypto today.
Crypto has been doing very well, and has gained the adoption that we have worked so far since the beginning of 2012. We’ve been working so hard to make crypto easily adapted. The industry has done very well. But today’s market, the macroeconomics, the whole market is struggling right now. That is causing fear. Crypto is still an investment vehicle, so when there is fear, people are going to sell. They will get into a cash position, that is what’s happening today. Everyone is holding cash, and everyone is in fear.
But we have not stopped working, we are doing our own marketing. Not yet spending on any marketing because the results from a couple of campaigns. We have tried some campaigns to move our price up but people sold off. When we saw that, we knew that was not worth the money. We cannot spend any more money to send the price up, only for people to sell and exit. It’s not profitable. We have to stop spending money.
We are doing our own marketing, doing stuff like live AMA. You can see that we are active in the community and we will continue to support you guys to keep you engaged and happy. But at the same time, do not spend too much money. We are saving money for the real marketing once the market becomes green. When we promote and get KOLs onboard and spend more money on marketing. With marketing there will be more brand awareness and people will realize that we are very undervalued, and they will buy-back. When the market looks confident.
But right now, you can spend $150K on marketing and it will not do anything. Nobody is buying $BTC. Nobody is buying $ETH, so why will anyone buy $ROSN? Same reason. Just hang on tight. We’re here. We’re still building and promoting internally. Once the bull market comes, we will come out stronger and we will bounce back.
Q: Have you thought about reducing withdrawal fees in the future?
Allan: We have to find a balance between making revenue, and not making revenue. If we give our services for free, we don’t make money for the company. Therefore we cannot build stuff and cannot give stuff away. Sometimes the token price is very volatile. We review all of our fees, including withdrawal weekly. Sometimes when you’re in between that period and there’s a huge price fluctuation, and you will notice the discrepancy in the price.
If you are patient and notify us, we will make the appropriate change. Our prices are in tokens and sometimes they just go crazy. They either go up or crash down. If you guys report it to us, we will make the right change. We are very fair with our fee structure. We are very competitive on our prices. It is only on those off moments that those fees seem bigger than you think you are.
But keep in mind that we have to make money for this business to be successful and to last long. We are doing a lot for the community. To offset, we are extending our VIP to a higher level. We are going to open up bigger VIPs. This is a great opportunity to join as a VIP because our prices are so low. The higher VIP you are, the more benefits you get. We are going to do a lot for our VIP members moving forward. You will see that there are a lot of benefits.
Q: When can I buy $ROSN on Binance?
Allan: We are not on Binance yet, I’m sorry.
Binance usually charges $3M on listing. That is just the fee. We also have to have a very active and supportive community. So not only is the cost huge, that will come from us. We will also need your help to make it happen. If you go on social media, talk about us and tag Binance, then maybe they will notice.
But there is still that $3M fee. From a business proposition, does that make sense for us today in this bear market. It does not. When the market is greener, maybe yes. Right now if we list on Binance, our price will only continue to fall.
Q: Can you give me a reason for holding $ROSN for a long time and what’s a killer feature?
Allan: Why would you want to hold our token? It’s because we continue to expand the utility of $ROSN token. There’s 2 reasons why people buy a token – for investment or to use our ecosystem.
So right now, if you’re a VIP and hold a lot of tokens, you get discounts, rewards and play games. You will be able to do all these engagements to earn Rose points, to then participate in more games, and buy NFTs by next week. There’s a lot of play to earn and engage to earn features on our app. That is the utility.
And again, our token is very low right now so from an investment perspective, it’s a good time to hold more tokens and level up your VIP. Especially if you believe in the project for the long term.
Q: Why do we need KYC as a user? And can you tell us more about the transparency of the project as to what it will do next, especially after what happened with Terra Luna.
Allan: Let me answer the 2nd question first. I am always on Telegram and Discord to talk to you guys and answer questions. We don’t hide anything and update you guys. We take your feedback, do surveys, plan and update quarterly. If there’s any concerns, we always try our best to answer them in a timely manner. When people are questioning about the fees, when people are questioning about the app, once those things are shared and get our attention – we will answer. We don’t hide anything.
It’s all because we are licensed. We are required by the licensor to follow the law. This law is to make sure that everyone in the app has an identity. That is why we have to KYC. Binance, you have to KYC. MEXY, Huobi – there is KYC. Even on Uniswap you have to KYC. We have to make sure that there are no suspicious types of people using our app for the wrong reasons like criminal acts.
Q: What will be the use case of buying or selling NFTs from your campaigns?
Danie: We already have a lot of campaigns and rewards to giveaway NFTs. So to share how we prepare the NFT, at the start we only had a few people and maybe just one 3D artist for doing the NFT. Recently, we started hiring more artists and at the moment we have around 6 people on the Creative team. We started giving away some NFTs because we believe they will have a lot of value in the future.
As for the utility, right now it’s just a gift to our users. But in the future, we will implement more use cases such as whitelist spots for our upcoming play-to-earn mini-games. Holders can also get whitelist slots for IAO. Last, they can get Rose Points and more details will be shared later. But for the sake of the AMA, I will share that you can get at least 50 Rose Points just from holding at least 3 different Roseon NFTs in the app.
We will also have the NFT marketplace and the metaverse upcoming so there will be even more utility. So just keep the NFTs in your app.
That covers the recap of the Live AMA session and we are planning to continue holding one monthly. In the meantime, for any other questions, feel free to join our communities on Telegram, Twitter and Discord to continue the discussions.
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Roseon World is the entire ecosystem covering Roseon’s developments in simplifying our users’ crypto journey. Our one-stop solution to all crypto needs is accessible via mobile or web (WonderApp), and soon, with our very own metaverse (WonderLand). Our intuitive but user-friendly UI eases the adoption of newcomers to our ecosystem.
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