The first decentralized financial marketplace.
PayPro is the first financial marketplace that will be built as a decentralized autonomous organization (DAO). On this platform, any dApp (decentralized application) will be able to offer its services.
What is dApp?
A decentralized application is an application that is open source and operates autonomously. The access to the application is granted by a cryptographic proof-of-value token. Thereby, the majority of tokens cannot be controlled by a single entity.
PayPro was actually established in 2015 as a platform for online payments in 25 currencies which allows saving up to 90% of hidden transaction fees. This project was backed by €750,000 investment. The platform has been processing up to €500,000. To bring revolution to the payments and banking industry, the team decided to create the first decentralized financial marketplace. Literally, the funds collected from ICO token sale will be used to create this platform.
PayPro Development Stages
First of all, the team is planning to integrate Ethereum platform and build a wallet able to store all top cryptocurrencies and tokens of ERC20 standard. By the way, they have already developed an iOS app allowing to store BTC, which is kind of an MVP.
Thereafter, the marketplace itself will be developed. Although the marketplace will be built on Ethereum as DAO, PayPro will not be offering any services. Instead, it will create a competitive environment for dApps. The marketplace is planned to be launched by July 2018.
There will be actually 2 tokens: PIP and zPIP.
PayPro (PIP) token will be the main token in the ecosystem, used for transactions within the platform. The second token, zPIP will be used to rate the dApps. Thus, the more zPIP a dApp has, the better service us provides. What’s worth mentioning, dApps will be interested in getting zPIP as it will positively influence their position and eventually bring more profit. At the same time, users will be also interested in rating dApps as they will receive zPIP tokens for that as well.
The table below describes the main features and purposes of these tokens:
To even better understand the PayPro ecosystem and usage of the two coins, we can take a glance at the user flow.
Let’s say, a user exchanges a cryptocurrency for PIP. User enters the PayPro marketplace and searches for suppliers of a certain services. Thereby, the rating of dApps is very important. Having chosen the dApp, a user buys the service and pays in PIP tokens for that. After the service is provided, a user is asked to rate the service and gets zPIP tokens for the feedback. Eventually, a user can exchange zPIP for PIP and monetize their actions.
In the initial sale, 40% of all PIP tokens will be issued. The investors will receive the tokens right after their ETH investments are received. 5% will be spent on the bounties and community rewards, 15% will be distributed among early purchasers, 20% will be reserved for the team, and 20% will be held by PayPro.
Money that will be raised during the ICO will be used in this way:
40% will be spent on the development
30% will be used for marketing purposes and affiliate program
30% will be saved for other expenses
15 Jan — 26 Feb, 2018
TOKEN SALE DETAILS
|Token Name||PayPro (PIP)|
|ICO Dates||15 Jan — 26 Feb, 2018|
|Price||1 ETH = 2,000 PIP|
|Restricted countries||Singapore, Estonia, China, USA|