What is PAYPRO?
PayPro is a decentralized bank designed to work with the new eco-system, where the cost is presented in new forms thanks to smart contracts. Thus, PayPro is a decentralized financial market where any dapp can place its services. We also develop a wallet in which users can store crypto-currencies and any tokens.
After we have built PayPro, the user will be able to store, for example, highly profitable, BTC or gas, and use the Marketplace to invest in a platform for the organization, for example. In addition, shares received from these investments in the form of tokens will also be stored in PayPro. As a result, all crypto-assets and obligations of the individual will be presented in PayPro.
PayPro was born in 2015 as an online tool for making payments in 25 currencies, saving up to 90% on hidden bank charges. We got regulated by the Financial Conduct Authority, raised two rounds of funding for €750 000 in total and spent a little more than a year in the market. We managed to process €500 000 a month, which is not bad at all compared to the early beginnings of Kantoks or Transferwise, for example.
From this experience we soon learned that payments/banking industry was completely outdated. So we soon realized that we had to take a step forward if we wanted to offer a truly devastating value proposition if we wanted to change the industry. That’s why we started listening to the market, talking to industry experts and doing a lot of testing and failure. And that’s how we created PayPro: The first decentralized bank built.
We understand that the main functionality of PayPro should be its ability to store and spend money. Otherwise, there is no point in storing the value if it cannot be used. For this reason we have built a banking platform first.
PayPro will accept most forms of crypto-currencies. Using Ethereum will allow users to store at least 100 of the most used currencies by transaction volume per day. Of course, PayPro token will be our main currency and will be easily exchanged with any other currency.
So far, we’ve developed an IOS app that allows you to store BTC, but it’s just a proof of concept made for use in the user interface. You can download it on AppStore here: https://itunes.apple.com/us/app/paypro/id1225181484?l=ca&ls=1&mt=8
2. Market place (not available until 2019 July)
On the one hand, users will be able to use their PayPro tokens, also known as Pips, to purchase any service in
Market. These services will vary from loans or loans to investments. As soon as the user spends their pips, the token will be received and saved in the application as a result of using the smart contract. For example
If a user wants to invest in a loan platform, he can find platforms, select a campaign, pay in Pips, and save a token received in exchange for PayPro.
On the other hand, suppliers can provide their services in the market. Using smart contracts, we can guarantee that all transactions are made in a safe and effective way. All suppliers will be appreciated by the users so the best suppliers can be recommended and the worst can be eliminated. By implementing this rating system, we can avoid centralization and thus ensure that the services are client-oriented, not others.
PayPro Token name
Exchange 20 000 (hard cap) or EUR 5,000,000.00 depending on the exchange rate.
Accepted currencies only the holder of the token benefits from the decision and economic rights. % of the token is sold 40% of citizenship of any other than Singapore, Estonia and the USA due to legal restrictions or countries of trade authorized by the United States.
Several tokens will be sold one week before the launch date. This period will be called the pre-sale period. By participating in the pre-sale, investors will enjoy special discounts, which can be either additional tokens.
The conditions for joining the pre-sale are:
The first 600 investors will receive a bonus of 35%.
- Within the first 24 hours, 20% bonus tokens.
- During the first week, 15% bonus tokens.
- During the second week, 10% bonus tokens.
Use of funds
Development of 40%
As explained, PayPro now relies on an integrated solution offered by a single supplier, which implies costly fees and low setup. Therefore, PayPro should be able to develop its own payment network.
These investments include advance and integration fees to be paid to the payment processor, the currency supplier and the bin sponsor, which will include the acquisition and the issuance.
However, most of these investments will be allocated to back-end developers (LAMP).
Growth of 30%
Despite the fact that there will be a long journey until the product is released, we realize how hard it is to earn first users and therefore we save most of the funds collected to invest in growth.
This amount will be invested in Google AdWords, Facebook ads and the Affiliate program. It also includes hiring a top-level chief marketing officer who will be responsible for developing and implementing the strategy.
Other costs 30%
Including all payments necessary to maintain the work of the Organization, such as executive salaries, rents, utilities, servers or computers.
Token sales Structure
~ Tokens offered via ICO-40%
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