What is PayPro?
PayPro is a decentralized bank created for a new eco-system where the price is represented in a new form thanks to Smart Contracts. We also developed a wallet where users can create crypto-currency and ERC-20 tokens.
PayPro was born in 2015 as an online tool to make payments in extra money. We are regulated by the Financial Conduct Authority, doubling over a year in the market. We managed to process € 500,000 per month, which is not bad at all with the end of Kantox or Transferwise.
PayPro is a decentralized bank that allows new ecosystems that have benefits for Smart Contracts. The point is that PayPro is a financial market where all dApps (decentralized applications) can publish their services on a platform. On the other hand, PayPro is also creating a wallet that will be developed to store cryptocurrencies and all ERC-20 tokens.
Once PayPro is set to 100%, users can store ETH, BTC, GAS and other cryptocurrencies, and users can also use the available market to invest at the time of fundraising. In addition, all the shares or participation resulting from the investment will be deposited in the PayPro application, so that the platform will protect the cryptographic asset.
PayPro will accept most forms of cryptocurrencies. The use of Ethereum will allow users to store at least the 100 most used currencies per 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 application that allows BTC storage, but this is just a proof of concept made for user experience purposes.
dApp (Decentralized Application)
The PayPro market will be built as a decentralized application, also known as dApp.According to David Jonhston, a dApp must meet some criteria to be considered as such:
– The application must be developed from open source, it must work autonomously and most tokens can not be controlled by an entity. In addition, the proposed improvements and market comments can be adapted in the protocol.
– To access the application and to reward any valuable contribution from miners or collaborators, a cryptographic file is needed.
– The tokens must be generated as proof of the value generated for the application.
– A decentralized Blockchain must be used to store data and operation records in order to avoid any central point of failure.
Because PayPro will have two main services that store cryptocurrencies and also form a market, then there will be mandatory products that must be completed sequence of premises, that is,
PayPro will accept most forms of crypto-currencies. 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
Marketplace will be available around July 2019. All PayPro tokens (PYP) holders will be able to buy the services offered by dApps and can also contribute to invest in crowdfunding events. All transactions that occur in the market will fully use Smart Contract. An Ethereum service is highly reliable for a variety of secure transactions. Smart Contract can be considered as an independent guarantee deposit, which can not be influenced by any subject. Smart Contract will receive funds from the buyer or investor, and then send them back to the vendor or developer of the platform that has crowdfunding if all the requirements are written in Smart Contract.
PayPro Token (PYP) will be the main currency in our ecosystem, facilitating transactions in the market. The main purpose of PYP is them
will be used for political rights and use
All services offered in the market and all transaction fees will be charged
in PYPs. Because of the growing number of currencies that will happen
Supported by this application, we have to decide which one will be
accepted to charge all costs and to simplify the market.
Though true ETH can be a good candidate, we are reluctant
rely on it for the fact that we do not share that Ethereal is final.
The ERC20 standard is used for all Tokens made in Ethereal.
20,000 ETH will be placed and 40% of all PayPro Token will be issued
in the initial sale.
Smart Contracts are set so that the PayPro Token delivery can be automated
occurs just after ETH is accepted.
Token allocation is as follows:
– 5% will be distributed to the community from time to time in return
for R & D and bounties.
– 15% is allocated to initial investors & supporters and future partnerships.
– 20% reserved for the current and most important team, the future
team motivation package.
– 20% final will be held by PayPro, under community supervision,
to achieve future sustainability through the distribution of network revenue.
Delivery of PayPro Token (PYP) from Smart Contract will occur
as soon as the ETH is sent.
Voting on monetary policy: whereas PayPro will set the initial inflation rate, token holders will be capable of adjusting the PayPro token inflation up or down (within a range)
Voting on technical design: the community can propose a new technical design to add, modify or remove elements from new versions of the protocol.
TOKEN SALE SUMMARY
1. November 2017 | Proof of concept release: iOS apps capable of holding and spending BTC are released into the market.
2. December 2017 | Project Management: we will spend 1–2 months to plan development.
3. February 2018 | Kick-off: all necessary recruitment and collaboration will be undertaken and construction will begin.
4. February 2018 Ethereum integration: Integrated etereum wallet so users can store all major tokens in our wallets.
5. July 2018 | Marketplace Launch: we will launch our own VISA Card so that users can spend it on BTC or ETH above USD, EUR, or GBP.
The allocation of tokens will be as follows:
ERC20 standard is used for all tokens created on Ethereum.
20,000ETH 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 is 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 and backers and future partnerships.
20% is reserved for the current team and most importantly, the future team members motivation packages.
20% will be held by PayPro, under scrutiny of the community, to reach future sustainability through network revenue distributions.
Tokens offered through ICO — 40%
The funds raised will be used to finance the development of the platform for the next 4 years
TEAM AND ADVISORS
For more information about PayPro and to connect with all other participants across the globe, click any of the links below.