Paypro
PayPro is a decentralized bank made for dealing with a new eco-system
where value is represented in new forms thanks to Smart Contracts. Thus,
PayPro is a decentralized financial-marketplace where any dApp can post its
services. We are also developing a Wallet where users will be able to store
crypto-currencies and any ERC-20 tokens.
After we have built PayPro, a user will be capable of storing ETH, BTC or GAS,
for instance, and use the marketplace for investing in a crowdfunding
platform, for instance. Likewise, the shares received from that investment in
the form of tokens, will be also stored at PayPro. As a result of that, all the
crypto-assets and liabilities of an individual will be represented in PayPro.
OUR BEGININGS
PayPro was born in 2015 as an online tool for making payments in 25
currencies saving up to 90% on hidden bank fees. We got regulated by the
Financial Conduct Authority, raised two funding rounds of € 750,000 in total
and spent a little bit more than a year in the market. We managed to process
€ 500,000 per month, which is not bad at all compared to the beginnings
of Kantox or Transferwise, for instance.
From that experience, we soon learned that the payments / banking industry
was totally outdated. Thus, we soon realized that we had to make a step
forward if we want to offer a truly disruptive value proposition if we wanted
to change the industry. This is why we started to listen to the market, talk
with industry's experts and do a lot of test and fail. And this is how we created
PayPro: the first decentralized bank built.
OUR FUTURE
In a future where Smart Contracts will be used for many of our daily activities,
such as using decentralized computer power, trading or insuring a car, we
believe that banking is also going to be decentralized.
On the one hand, traditional banking services are being decentralized thanks
to many initiatives coming from all over the world and being built over the
Ethereum protocol - some of them can be tracked here:
https://www.stateofthedapps.com. In our perspective, all these applications
need to be offered through a common platform as Android
applications are offered in Google Play, as otherwise the user experience
diminishes.
On the other hand, users are going to need new forms of storing value due
to the raise of smart contracts. All tokens coming from smart contracts and
currencies need to be stored at the same place and hence, a new form of
wallets need to be created. These wallets are meant to represent all the
crypto-assets and liabilities of an individual.
As a result, if our marketplace manages to gather a universal crypto-wallet
and a financial marketplace in the same place, we will have created the first
decentralized bank-alike application where users will be capable of storing
and managing all their crypto assets, ranging from storing currencies, loans
or investments.
Decentralized application
PayPro's marketplace will be built as a decentralized application, also known
as dApp. According to David Jonhston, a dApp must meet some criteria in
order to be considered as:
- The application must be developed open-source, it has to operate
autonomously and the majority of tokens can not be controlled by an
entity. Also, proposed improvements and market feedback may be
adapted in the protocol.
- In order to access the application and to reward any contribution of
value from miners or contributors, a cryptographic token is necessary.
-Tokens must be generated as proof of the value generated to the
application.
- A decentralized Blockchain must be used to store data and records of
operation in order to avoid any central point of failure.
PRODUCT
We understand that the core functionality of PayPro should be its capacity
save the currency and spend it. If not, there is no point in saving
value if it can not be used Therefore, we have built a banking platform
first.
Purse
PayPro will accept most forms of crypto-
currency. Using Ethereum will allow users to do so
keep at least 100 currencies most used by
volume of transactions per day Of course, PayPro
Token will be our main currency and will become
easily exchangeable with other currencies.
So far, we've developed the iOS app
allows to store BTC, but this is just proof
concept created for the purpose of the user.
You can download it in AppStore here:
https://itunes.apple.com/us/app/paypro/id12
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PAYPRO TOKEN
PayPro Token (PYP) will be the flagship currency in our ecosystem, facilitating
transactions within the marketplace. The main purpose of PYPs is that they
will be used for political rights and for usage;
Political Rights
- Voting on technical design: the community can propose a new
technical design to modify, add or remove elements from new
versions of the protocol.
- Voting on monetary policy: Whereas PayPro will set the initial inflation
rate, token holders will be capable of adjusting our Token inflation up
or down (within a range).
In both cases, the frameworks for taking decisions will be set by PayPro as
main promoter and cluster for token holders.
Usage
All services offered in the marketplace will be charged
in PYPs. Due to the increasing number of currencies that are going to be
supported by the application, we have to decide which one is going to be
accepted in order to charge all fees and for the marketplace to be simplified.
Whereas is true that ETH can be a good candidate, we are reluctant about
Ethereum is the final
TOKEN SALE
What is a Token Sale?
When further development is needed from a company, a token created by
the company can be given in exchange of funds.
The benefits of a token sale are double; from a company perspective, the
main advantage of it is that the company gains quicker access than traditional
founding routes. From an investor perspective, there is a greater number of
reasons why this method can be more interesting than traditional
investment;
- While traditional funding forms on exchanging shares by money,
which in most cases are not tradable, most tokens can be sold back to
the market at any moment in time. By doing this, investors can allocate
their resources in more liquid assets.
- There is an increasing number of individuals largely exposed in crypto-
currencies and hence, there is a need of generating yield within the
ecosystem.
- It provides a safe tool for investing anywhere in the world without
the need of getting involved in local law systems and jurisdiction
conflicts aroused from it.
Why an ICO?
Because we truly believe that PayPro is made to be a global change, we also
believe that it has to be conceived by the global community for a number of
reasons:
First of all, as a decentralized application it is natural for us that its conception
must come from the community. Even though our organization is going to be
its main promoter, we also expect support from the community in terms of
funding.
Second of all, we are facing a great challenge in a number of fields such as
technology development, payment networks, strategy, compliance ... and
hence, considerable funding is needed to accomplish our goals.
Last of all, PayPro Token (PYP) is the core of our network. PYPs are going to
be the main crypto-currency of our network and will also be used to deal with
our partners as well as to charge all services available within the network.
Token creation
ERC20 standard is used for all Tokens created on Ethereum.
20,000 ETH will be placed and 40% worth of all PayPro Tokens will be issued
in the initial sale.
The Smart Contract is set so the delivery of PayPro's Tokens can automatically
happen right after the ETH are received.
The allocation of tokens will be as follows:
- 5% would be distributed out to the community over time as rewards
for R & D and bounties.
- 15% is allocated to early investors & backers and future partnerships.
- 20% is reserved for the current team and most importantly, the future
team members' motivation packages.
- The final 20% will be held by PayPro, under scrutiny of the community,
to reach future sustainability through network revenue distributions.
The delivery of PayPro Tokens (PYP) from the Smart Contract will occur
immediately after the ETH is sent.
Token sale period
The token sale will start on November 22nd, 2017 at 21:00 GMT and will finish
on December 22th at 21: 00h GMT or whenever the target value of 20,000 ETH
is reached.
Exchange rates and limits
PayPro token will be sold at 500 PYPs to 1 ETH. Minimum investment is set at
0.5 ETH.
No other crypto-currencies are accepted.
Pre-sale tokens
A number of tokens will be sold one week before the Launch Date. This
period will be named as the "Pre-sale" period. By participating in the pre-sale,
investors will enjoy special discounts, which can be additional tokens.
The conditions to join the Pre-sale are:
- By invitation only; if you want to be invited, please contact any of our
team members.
- Minimum commitment of 15 ETH to qualify.
- The first 600 investors will gain a bonus of 35%.
TEAM
For more information contact the link below !!!!!
ANN THREAD WEBSITE FACEBOOK
TWITTER MEDIUM WHITEPAPER
AUTHOR :Alfian2015
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