Looks like we're all here and thanks everyone for joining again. My name is Tim the host for today's Kucoin fireside chat and here with us today we have candy pocket and Specifically, a day in the co-founder of candy pocket welcome
Hello, everyone. Thank you for having me. Thank you. Yeah, I'm super excited to have you on and very happy that we have time to really showcase and sort of emphasize all the great
things about Candy and how you guys are different from all the other competitors out there. Why don't we just jump straight into it? Give us a high level introduction to your background as well as Candy and what it does.
Yeah, of course, of course. Yeah, so Candy Pocket is a Web 3 wallet for online payments. So pretty much on the wallet part Candy Pocket is a combination of Web 3 wallet plus the app store plus
transaction and also launch pad in the future. Can the mainly gather traffic through the incentive method of share to earn to achieve the accumulation of users? Launched about eight months ago in October
2022 we already have millions of registers users worldwide and the users come from more than 160 countries across the world. Some top regions include Southeast Asia, Southeast Asia,
African, some other regions, mainly from the developing world. And also it's important to note that 80% of the users come from the shared to earned organic growth.
You know, pretty much users, referring users and the remaining channels include YouTube, Facebook, Twitter, Instagram, Zal and other channels. So that's a little bit about the project.
And also about the team, we have a very strong team with both a Web 2 and Web 3 experiences. And also from the Web 2 part, we have people from the top internet companies.
For the web 3 part we have crypto OGs. So yeah, so I think that the background is very complimentary. You know, we have the necessary skill set and also experience to make the projects successful.
Yeah, that's a little bit about Candy Pocket and the team. Got it. So, you know, let's take a step back, maybe tell the audience why you guys founded Candy in the first place and what is the overarching vision of Candy?
Of course, of course. So first, it's about the name in a candy pocket. So we thought candies are sweet. We want to make the project rewarding to all users. When our community members think of our project, we want everyone
to associate it with the sense of sweetness. We hope that the project can add a lot of sweetness to the everyday life of everyone. And we really want to build a trustworthy payment solution for everyone.
And particularly for the third world, because we realized that the crypto industry has already progressed for more than 10 years. And the adoption rate is, I mean, we are seeing very good progress, but the adoption is still pretty low.
Probably by now we have about 100 million users worldwide collectively. And when you ask people in the industry, a lot of people see the industry as an internet back in 1995. So really before
the explosive growth before the mass adoption happened. And also, you know, we, and also we saw this imbalanced adoption rate between the developed world and the developing world. And we really wanted to make sure, you know, the developing part of
the world can also catch up in terms of the adoption rate. So, in terms of the product design philosophy, we wanted to make sure that it's very easy to use. We wanted to make sure that the entry barrier was low enough.
You know for almost everyone to start trying to use our product, you know to get it to get a sense of you know how a Web 3 or crypto product looks like and then bit by bit We would you know add more features so that you know people can really follow us to do
get into the world of crypto. And for that, we wanted to see ourselves as the gateway to crypto for many people, particularly for people from the developing world. So yeah, that's a little bit about our vision and why we founded Candy Pocket.
So one thing you mentioned earlier that I call my attention is you said a lot of the I think you mentioned that a lot of the users were from a variety of channels, but also via via
referrals. So I'm always interested as a marketer, right? You know, about referral programs and how to really drive this channel and make it effective in order for users to
recruit fellow users, right? Because in essence, that is really the best way to acquire customers and acquire and then grow sort of your user base. So talk to us about that, how you guys thought about it, and what was your strategy?
Yeah, of course, of course. So, yeah, I mean, as mentioned, we, you know, I think we have to come back to the team background, like, you know, when we talk about the D apps, like, you know, one thing comes to mind is that most of the D apps, you know, till now are a little bit difficult to use.
they require some tech 70s from the user side and you know when I talk about the DeFi and T and all those stuff and game files so you know so we see that as a little bit high entry barrier and we wanted to we want
And also given our team background, we have this best mix of Web2 and Web3 background. We really understand the importance of user experience and the user journey and also the conversion rate step-by-step.
given that background, the team was able to and also was very aware of building this very user-friendly product. It's very smooth to use, very low entry barrier and very simple and easy to use. So I think that's
one thing. And also, the product was actually able to attract more and more users because of the share to earn incentive mechanism. You wanted to make sure that people would be happy to share
about candy pocket with people around them, with their friends, their families, or their circles. And also in this process of sharing, sharing itself is already fun. There's this sense of accomplishment, the sense of helping each other. But then at the same time, sharing can be also
awarding. So, you know, we want you to make sure that, you know, in our free mining feature as part of the Candy Pocket app. We want to make sure that the more people you share with, then the higher the hash rate can be. So that translates to a faster rate of earning
So that's the rewarding part. So I think this is again another important feature that makes the product really travel from country to country, from region to region. Now we cover more than 160 countries and a lot of
a lot of people around the world love our product and love how the mechanism goes. So yeah, I think those are a few points why the product was so successful and why we were able to accumulate so many users in such a short time frame. Yeah, that's yeah, thank you.
Can you walk us through the token itself and the utility behind it? I think you know a lot of Web 3 projects that have not sustained themselves over this bare market
market is because a lot of the tokenomics were inflationary, not sustainable long-term. Talk to us a little bit about that and give the audience some details about how you guys can really sustain your growth in the long run.
Yeah, of course. Yeah, that's a great question. So in terms of the candy token, we have it very clearly in the white paper that we have a fixed amount of 2.1 billion of candy tokens. You know, one billion would be for a
free mining, which we've already reached. And that's why we upgraded the app to the 2.0 version and started a whole suite of new features, including KYC and C2C trading and others. And also the remaining 1.0
one billion would be for other purposes including staking and others. I think at the beginning, the candy token are mainly for the free mining and also for the share
or an incentive mechanism. And then after we launch the 2.0, after we added more features, you can do more things with the token. You can start to unlock the token. And also, you can transfer
you can withdraw and also you can trade and by the way we just listed our token on five different exchanges yesterday 6 p.m. UTC plus 8 you know five major exchanges
in the world, including by bit, and also Kukuin and a few others. And also, you know, here we want to mention that, you know, the Kukuin team has given a lot of support in this process. And like we see Kukuin as a
The premier exchange in the world, one of the strongest, with a very large user base, a very strong community, highly supportive community, and also, of course, also reflected in the trading volume and
So we thank everyone who made this possible in the process. And also, of course, this is not the end, actually this is just the beginning. We have a lot of things in our pipeline that we will build.
in the future that will make candy tokens even more valuable in the future. So for example, let me give you a few examples. Now that we already got this playbook of how to make it click with the users around the world,
We want to actually build more localized versions of candy pocket to serve each of the local markets even better. Because while we understand we recognize the togetherness of a global community,
We also appreciate these cultural differences and also the language differences from country to country, from region to region. And now we have just one version of the Candy Pocket app serving everyone around the world. If we build
more localized version of the app. We believe that, you know, in terms of the UI UX, in terms of the local consumer understanding that we can build in to it, you know, we believe that we can serve the local consumers even better. And then all these all these
The local apps will also have their app currency and everything and will be somehow linked to the candy tokens. So this is one part. Also moving forward, we will also build the DApp Store and also Launchpad.
given our very large user base across the world. We believe that we can partner with many new projects who want to find the right consumer segments for them, you know, a no matter which part of the world or which, you know, which segment of the consumer you are targeting, there is
It's always a solution from Candy Pocket because we have such a large consumer base. For example, we can organize different activities with our partners. For example, market studies, consumers survey, and also in this process, the partners would
would be very happy to do you know, air drop and other rewarding, you know, kind of activities to the candy holders. So I think this is another way that, you know, the candy holders can be rewarded and we will also
launch a whole suite of different apps, you know, all the things that you may find on Ethereum, you know, DeFi, game file, and T and you know, different kinds of dolls. Yeah, so all these are very exciting developments and we believe that all these can add more and more
value to the ecosystem and since the county token is the governing token for the ecosystem, we believe that the value can only go up. That's our true belief. Thank you. And I want to dive, Damon, I want to dive deeper into the specifics of the project. Let's say, let's
say some of our users listening may be very early in their web series journeys. Just walk us through step by step how to onboard users to Cany. And if it's their first user experience, what should they expect? Yeah, of course.
Let me, particularly for new users, new crypto users, that we come back to the part where we make the entry barrier very low. We already mentioned that about the product part of it, there is also a part of,
There might be concerns in terms of storage space, power consumption, in terms of internet, bandwidth requirement, because all these are not too good in the developing part of the world.
We have very good tech team who build our product. And they are very conscious about these constraints that our consumers might face.
that the product doesn't consume a lot of energy and also it's as small as possible when you install the app and also doesn't require a very strong internet bandwidth. So pretty much
And also in terms of the product version, we have the app version, we have the web version, we have the mobile web, we have also the PC web. So pretty much, you know, in terms of device, you have any device that can be connected to internet somehow, you know, can be used to run candy. So, so we, you know,
In this part, we also wanted to make sure that the entry barrier is low enough. And also, on the user flow and everything, we also put in a lot of effort to make sure that it's easy to use.
So these are things that we did to make sure the entry barrier was low. And also, we realized that actually people in the developing part of the war may have even urgent need to embrace a better payment system.
also embrace a better investment opportunities that candy may present. Because these things are lacking in the development part of the world. We want to make sure that we offer that to
users there. And also given the nature of the share to earn feature, and the share to earn by nature is about someone probably knowing a little bit more about crypto, sharing this product or features to someone knowing
and they might be friends, they might be family members, they might be like in the same interest group, you know, short group and others, right? I mean, you name it. So basically, they are somehow connected, they somehow they know each other, you know, and also the person
referring the next one to Drone Candy has certain level of influence to that person. In this process, I think it's a very natural thing for this person, for the referer to tell a little bit more about Candy and
how to use it and also to patiently answer some questions that this new user may have. I mean, it's just because of the way that our product travels around the world. It really makes it easier for people to get information. You don't have to just
come to the website or Twitter and read up very long articles to learn about how to use this, which is very boring and sometimes not very informative. If you have people who refer you to use this product and who can actually patiently explain things to you,
in a very understandable way, then I think probably that's the best way for you to learn something new. So yeah, I think our shared to earn mechanism is not only rewarding, but also educational in nature. So I think that's another part where we think that, you know,
the product really caters to users who are not very familiar yet with crypto who are really new to crypto. So we believe it can really serve the new users very well in this process. Thank you. Awesome. I just have one
one more question before we move on to the audience questions. I'd just like to know what your roadmap is. I mean, talked a lot about your project, the project and what you guys have accomplished so far, which sounds all super exciting and amazing, but talk to us a little bit about what's ahead, what you guys
have planned and what you think candy pocket will look like in the next few years. Yeah, yeah. Yeah, thank you for that. I think in terms of, I mean, we are always forward looking, you know, we keep track of the latest developments of the industry
We understand that we are just before the mass adoption can happen in a few years' time. We want to be part of this global force that can make the mass adoption to happen as early as possible.
And so we believe in a few years, Candy will have probably hundreds of millions of users, at least because we are global. We have the global community.
We also have the local version of the county pocket that serves the local communities better and also we foresee that we have a flourishing ecosystem You know where we have all the verticals that you can find on other major public chains, right and and also
The original candy holders will enjoy a lot of benefits and probably they will have already enjoyed a lot of benefits. But even that we also have the token burning
mechanism in the future. For example, if you launch DApps and we have the launch pad, but if you want to get the tokens from other DApps on Candy Pocket ecosystem, you have to burn certain amount
of candy to get it. There's some sort of exchange rate. So it's a deflationary in nature. So we think that candy token value will appreciate over time. And the candy holders, I'm
actually we suggest candy holders to really hold onto it. This is just the beginning. And also we want, I mean, once we have the very large user base, I think that there are really a lot of things that we can do. For example, the source, the source
For example, distributed storage, distributed computing power, now with the rising of the AI technology and everything, there might be opportunities where we can do on the distributed
computing power to help the AI algorithm to run better. Instead of just, we continue to buy a lot of shapes from the manufacturers, which can be very difficult for certain parts of the world. All these are
the future plans, some already in our web papers some not because of the really fast evolving landscape of technology in the world. But you know I think it all boils down to the high quality team we have who would you know keep track of what's
happening and see what's the best interest for the candy token holders in the future and really make it very meaningful to be part of this candy family. And there are really a lot of exciting developments to look forward to in the coming years.
Awesome. So it looks like we have our first audience member up here, Brandy. Do you want to go ahead and ask your question? All right. Thank you very much for bringing me up to speak. I just want to ask, kindie, like,
Why are some of these capability challenges the economy feels as much as liquidity providers are floating to your ecosystem? And how is your team addressing these challenges in their own game development efforts?
Thank you, Randy. I'm not sure if I captured your question correctly. Is there about challenges in terms of liquidity?
Okay liquidity in terms of yeah, I mean like yeah, as you know there are so so we can talk about candy tokens right like candy tokens is like You know the the government token and also the currency in the
in the candy ecosystem. Candy token was listed on five exchanges yesterday. So I think by nature, it would provide some liquidity for the ecosystem.
I mean, in terms of the whole candy pocket project, we also have a very strong investor base. In terms of funding and everything, we have very strong individuals from both Web2 and
Web 3WRF and also we have crypto exchanges behind us, for example, like KuKuan, Babid is one of the strongest exchanges in the world and Babid is one of our strategic investors.
behind us. So I think we I mean the team really is really focused on building the right things and building things right and then you know we believe that you know in terms of funding in terms of liquidity things will we will come to us.
because we really serve the community and we serve their interests well and we really build things that can add value in the long run. I think that's something that I can share about that point. Yeah, thank you.
Awesome, next up we have crypto eagles go ahead Hello, they are my can't look good to see you here in cook wine So I you have already told that you guys have above 100 million users from all over the globe and you
you guys listed on few good exchanges including QGuy. I have two questions. What a person can expect if someone will get in now in Candy Pocket after all listings, after your 100 million users and second question is what is the easiest way
to contact with candy team if some project or any other thing looking for any kind of partnership or collaboration with your team. So these two questions. Thank you. Thank you for the questions. Yeah, let me clarify first. I think the
hundreds of millions of users is really for a few years later. I mean, for now, we have a few millions of users, which is already considered large in the crypto space today. But of course, we would love to have hundreds of millions of users as soon as
as possible. So thank you for that. And also, you know, a lot of users already got candy token from the free mining feature, you know, because, you know, every new user who registered with us will get a free NFT mining machine where they have a very base base
hash rate to start with with his 0.4 candy tokens per hour and so per day they can pretty much mine about 10 candy tokens and to make it even faster you can refer more friends and family to join to join
this journey together with you and the more people you refer, the faster the the hash rate can be. So that's the share to earn mechanism. So a lot of users already got candy tokens through this way, the free mining. And also, as mentioned in candy 2.0, we had
this C2C trading feature. C2C refers to consumer to consumer trading and many of our users also got candies by buying candies from others. Others who have probably more candies to share with others and the
There was price appreciation already in the C2C trading process. So some users who came a little late may get some candies from there. And then of course, now that we are on five exchanges, including some of the largest exchanges,
changes in the world. I don't see any difficulty in getting candy tokens. And I think since we just listed yesterday, I think probably not many people know about us yet.
So I think the token price is still very reasonable today and given all the new developments in the future, we definitely believe that the token price will appreciate. So that's how it will be. And of course, the final price trajectory will be determined by the market force.
and selling, but we focus on doing the fundamentals right and releasing new features, releasing new partnerships and everything to the public market. So that's about the first question. The second question is about how to reach out to us in terms of
or a partnership and everything, you can find our official email address on our official website, the main page. If you scroll down all the way down, you can find the ponder@candypocket.com that official email address feel free to send email to us. Also,
If you follow us on Twitter or join one or more of our TG groups, you can easily find or very friendly and helpful means, who you can already approach. For any opportunities, they might not be in the position to decide whether
to proceed or not, at least they can pass on the words to the project team. And then we can have a meaningful conversation to move forward. So yeah, I mean, there are multiple ways of reaching us. Peter Handle is a candidate
I.O. and in terms of TG, I mean, yeah, I mean, like a TG group, maybe you can find on the on the county pocket official website. So, yeah, I mean, like we will definitely have a lot of different
leadership, moving forward, as mentioned, given our large user base. So we welcome inquiries or proposals and everything that would make everyone's life even better. Thank you for that.
Awesome, unfortunately we've run out of time, Damon. I really appreciate you coming on here and sharing your background, the team's background as well as all the wonderful things that you guys are building over there at County Pocket. I just like to give you the last word. Anything else you'd like to share with our audience before we wrap things up?
Yeah, I mean, like, you know, the project team really appreciates the support from the community and thanks a lot for all the great questions this evening. And, you know, really I really encourage you guys to visit the candy pocket website and try out our product and also
So stay close to what's happening on the trading side and follow us on the candy token price. You definitely want to be one of the candy token holders.
And also, yeah, we encourage you to also share about, you know, Candy Pocket with people around you. I think, you know, it's, you know, as mentioned, it's fun and rewarding. And, you know, together we can really drive the crypto adoption. And, you know,
you know, making it better for everyone. Yeah, I think that's that's pretty much. Yeah, thank you. Great. Thank you so much. And as always, this is only informational and educational and not investment advice. Thanks everyone for your time for joining and thank you, Damon again for taking the time to share everything with us. See you guys next time. Bye. Thank you, team. Thank you, everyone. Bye bye.