TruePNL team is delighted and thankful to have hosted an AMA session with the Lyber team and had the opportunity to learn more about the challenges of creating a Neobank and the exciting innovations the team is building.

Lyber is the first European neo-bank specializing in digital assets allowing its users to invest, send and spend their assets easily. Lyber has positioned itself as the first decentralized finance front-end in digital assets. Lyber was created as an instrument to provide an equitable platform for anyone looking to invest in digital assets. Its seamless, user-friendly design, features, reduced fees and transparency make it easy for crypto-newbies and seasoned crypto-investors to securely trade and execute other transactions.

This article is a quick recap of all the questions asked during the AMA. We received a lot of engagement from our community. Thank you all for your wonderful questions!

Read on to find out more about Lyber!

TruePNL: Can you please introduce yourself? What is your background and current role at Lyber?

Lyber: Sure! My name’s Mario & I’m French, I am the founder & CEO of Lyber. I’ve been in crypto since 2015. I have a background in traditional finance as I worked at Barclays in wealth management. More recently, I used to work at Alameda Research, the hedge fund behind FTX as a Business Developer where I was negotiating with funds interested in market-making and OTC deals. I was also particularly focused on Project Serum where I was discussing with Solana founders to help them integrate their products to Serum order books.

TruePNL: Can you introduce the team behind Lyber and share the achievements the team has made so far?

Lyber: We have compiled an array of experiences and expertise from traditional finance institutions such as Barclays, crypto companies such as Alameda Research, and well known brands. Moreover, some members of our team previously worked at Red Bull, Ledger, and Kering.

TruePNL: Tell us about Lyber and share your vision of it in general. What do you think distinguishes the project?

Lyber: Lyber is the first French neo-bank specializing in digital assets, allowing its users to invest, send and spend their assets easily with a payment card. We aim to offer europeans a simple way to acquire digital assets without complex trading tools and low fees.

What distinguishes us from the competiton, first we are European based and regulated, indeed, most platforms are located aboard or within fiscal paradise which is not suitable for most investors. Lyber will be trusted by all European citizens as we are based in Paris. Second, we are developing crypto focused & innovative products such as a EARN service that enables our users to participate in DeFi and earn between 5 to 8% APY on stablecoins directly from the Lyber’s app with a simple click of a button. Third, we have partnered with Treezor.com, one of the biggest payment provider in Europe to issue Lyber branded payment card which are ready to launch in June 2022. Lyber users will be able to use the card anywhere in the world.

TruePNL: The competition is getting harder in blockchain industry, what will make you diffrent from other projects?

Lyber: Our USP (unique selling point) is to propose a Neobank dedicated to digital assets with a great UX that enables retail investors located in Europe to acquire crypto with low fees. We have also attached a payment card that allows our users to spend their assets all around the world. Moreover, we are getting regulated at the heart of Europe, we have applied to the crypto license called DASP along the E-money licence in France with the help of the biggest law firm specialised in digital assets. We expect to obtain those two licences delivered by the AMF and ACPR by the end of May 2022

TruePNL: What you foresee being the major milestone in the Lyber roadmap over the coming 6 months or so?

Lyber: The major milestones for Lyber over the next 6 months is to obtain all required licences to operate legally in Europe in order to start our go-to-market strategy. We aim to acquire more than 50k users by the end of 2022. We recently hired a CMO (Chief Marketing Officer) that used to work at Red Bull to focus on that matter. Moreover, we aim to release the fully live mobile application by June 2022. Concerning the IDO, it will take place in May 2022.

TruePNL: Can you please explain to us the utility of the token and all ways that it can be used to add value to holders?

Lyber: Sure, tokens holders will have the following advantages on the Lyber platform: Reduced brokerage fees, access to IEO launch, increase staking rates, increase referral rates.

Moreover, 33% of the Lyber’s total profit will be used to buy-back LYB tokens on the open-market. Please check here for more information.

TruePNL: At the moment, all tokens go down in price even with great partnerships, hype, marketing, and working products, etc. So, what kind of challenges do you have and what is your plan to make your project strong and popular? Do you see it as an opportunity while the current market decline?

Lyber: Agreed. However, the French market for digital assets is evolving rapidly. A report by the association ADAN in France was recently published stating that 30% of French millennials are looking to acquire digital assets over the coming years. We aim to offer a simple solution for them to do so.

Moreover, the European market is still in its infancy, we have identified a lot of growth opportunities in the region for on-ramp solutions like Lyber, thus, the current market declines if the perfect opportunity to focus on the long term and keep BUIDLing products people will use. We have designed a very specific go-to-market strategy to acquire users over the coming months.

TruePNL: Will Lyber become a full blown CEX and when?

Lyber: Not really, Lyber is a neobank dedicated to digital assets. We are not trying to compete with Binance or FTX, they are the best in what we do, we really try to have a different approach focusing on retail investors and offer them a platform with low fees. We want to onboard everyone who’s not a trader in Europe, which is 99.9% of the population.

We have lower fees than our neobank competitors such as N26 or Revolut, we will develop innovative products dedicated to crypto such as a saving service that enables people to participate in DeFi and earn between 7% to 10% APY on stablecoins directly from the Lyber’s App. We will also be organising IEO on Lyber. Products that you can’t find on Revolut.

TruePNL: What benefits will your physical card have so that businesses and people want to use them, in addition to what guarantee they offer against fraud?

Lyber: Lyber physical cards will be available to any user that has an account with Lyber. You will be able to use it anywhere in the world as we have partnered with Treezor.com, one of the most performant fiat-systems in Europe. Treezor is actually the partner of multi billion dollar neobanks such as Qonto or Shine (based in Europe). Hence, the company has already put in place strict procedures against money laundering and terrorism financing.

TruePNL: Your platform is able to generate a huge amount of data about users preferences and behaviors. Are you already using those data? Do you plan to use them in the future as an additional source of profit?

Lyber: Correct. No, be assured that we don’t plan to use users preferences and behaviors data at all in the future for additional profit. Moreover, European regulations would forbid us to do so.

TruePNL: Community support is one of the key catalyse to fuel a project to success. Most projects have social programs that interact with their users. Do you have any important plans to attract and expand the community outreach & improve users experience?

Lyber: We have divided our marketing strategy & social programs into three different categories:

TruePNL: What are plans in for global expansion? Are you focusing on market at this time or focus on building and developing or getting customers and users, or partnerships?

Lyber: For the time being we’re mostly focused on closing our funding round and building and developing the mobile app. Once the application is ready we will start by focusing on the french market and quickly extend to other french speaking countries, Belgium, Luxembourg, Switzerland. We are then planning on targeting Germany, Spain, and Italy.

We already have several partnerships: Treezor, Solanart.io, Fireblocks, Chainlink Labs, Exotic Markets, SonarWatch; and we are planning to make many more in the coming months.

We sincerely thank the Lyber team for a fantastic AMA event and thank all users for submitting their questions.

The AMA winners are the following Twitter handles:

@Cryptodilatory, @djratiram, @AlvinGhostRider, @tejoGtv, @avernus1313, @samessang, @AdolfoEzquivel1, @eriklicenew, @danielbassey95

Each winner will receive $100 USDT between them. Congratulations!

https://launchpad.truepnl.com/vested_project/48

The sale guide and details can be found here.

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