Wed, 14 Nov 2018

PayPro Token Sale

PayPro Token Sale

The first decentralized financial-marketplace

Review Project

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 token.

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.

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 such:
- 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.

The Product

Wallet

PayPro will accept most forms of cryptocurrencies.Using Ethereum will allow users to store at least the 100 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 have developed an iOS app that allows to store BTC, but this is just a proof of concept made for user experience purposes.You can download it on the AppStore here:https://itunes.apple.com/us/app/paypro/id1225181484?l=ca&ls=1&mt=8

Market place

On the one hand, users will be capable of using their PayPro Tokens, also known as PYPs, for buying any service in the marketplace. These services will range from loans or credits to investments. Once the user will have spent its PYPs, a token will be received and stored on the application as a result of using a Smart Contract. For instance, if a user wants to invest in a crowdfunding platform, he can browse for crowdfunding platforms, select a campaign, pay in PYPs and store the token received in exchange on PayPro.

On the other hand, suppliers can submit their services to the marketplace. By using smart contracts, we can ensure that all transactions are made in a secure and efficient way. All suppliers will be rated by the users so the best suppliers can be recommended and the worst can be ruled out. By implementing this rating system we can avoid centralization and thus guarantee that services are client-focused and not the otherwise

Management of the dApp

Out of 100% of the issued tokens, we are only distributing 40% of them on this ICO. Although we have been asked about the possibility of burning the remaining tokens, we believe that would bring the platform to be led by token holders who might not be prioritizing our long-term goals but mere speculation. As David Jonhston suggests, the ownership of a dApp become less and less centralized after having distributed its tokens via fund-raising and collaboration.

Following Jonhston’s scope, the ownership of the dApp is distributed further as participants with more diverse skills are incentivized to make valuable contributions. Also, those who value the tokens the most are being transferred with them through market forces. This ultimately promote even further the development of the dApp by those individuals who can help the most in the areas that they have expertise. Therefore, we understand that our duty is to progressively release the decision power not only when PayPro needs funds, but also as long as the community gets prepared to it.

Website

ANN Thread

Token Sale

Crowdsale Opening Date

08-01-2018

310 days ago

Crowdsale Closing Date

04-02-2018

283 days ago

Allocations

Token Distribution

Distribution

Allocation
For Token Sale 40 %
For Sustainability reserve 20 %
For Founder and Team 20 %
For Early Investor 15 %
For Community 5 %

Uses of proceeds

Use

Allocation
Development 40 %
Growth
30 %
Other expenses 30%

Team

Name

Position
Pablo Ruiz CEO
Gabriel Llambias CFO, COO
Enric Giribet CTO
Qijiong Jiang Blockchain developer
Surya Wongtomo Project Manager
Roger Baiget Developer
David Murray MBA Class Advisor @ IE Business School
Maximilian Von Sethe Finance & Banking Manager @ Google
Luis Font 2 companies exited
Franc Carreras Marketing Prof. @ ESADE

Written By

Isuk
Profile
ETH : 0x237706bfE11D4C4E148b4764c8f7Da37743657d4