PayPro — Launches The 1ST Truly Decentralized Marketplace

History PayPro

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 early 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 From that experience, we soon learned that the payments / banking industry was totally outdated.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 wanted 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.

What is PayPro?

PayPro is a decentralized bank created to manage other eco systems where prices are given to new structures because of Smart Contracts. Therefore, PayPro is a commercial center associated with decentralization where each dApp can post its administration. We are also building a Wallet where clients have the capacity to store digital money forms and sign the ERC-20.

After we collect PayPro, clients will be fit to get rid of ETTH, BTC or GAS, for example, and utilize a commercial center to incorporate resources into the crowdfunding stage, for example. In addition, offers earned from interest in these token types will also be removed in PayPro. Therefore, all individual crypto and liability sources will be invited to talk on PayPro.

What is DAPP?

PayPro’s commercial center will work as a decentralized app, also known as dApp. As per David Jonhston, a dApp must meet several criteria to consider for all things to consider:

- Applications must be produced open source, need to work by itself and the larger token part can not be controlled by the elements. In addition, proposed upgrades and market criticisms may be adjusted in the convention.

- keeping in mind the ultimate goal of obtaining an application and to compensate for award commitments from miners or customers, a cryptographic token is essential.

-Token must be created as proof of appreciation generated on the application.

Decentralized blocks should be used to store information and records of operations keeping in mind the ultimate goal of avoiding major disappointment issues.

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 same 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 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.

Initial Coin Offering (ICO)

Because PayPro is a complex challenge, we are yet to develop it. Though, all the code will be open source and we expect the community to join us on its development.

We are running this ICO in order to raise the necessary funds to kick it off. We are looking forward to starting working with you on this amazing project.

THE PRODUCT

We understand that the core functionality of PayPro has to be its capacity to store currency-value and spend it. Otherwise there is no point of storing value if it can not be used. For that reason, we have built the banking platform first.

1. A marketplace. A wallet

PayPro is a financial marketplace where any Decentralized Application (dApp) will be able to offer its services. Thus, dApps will be competing among them to become your supplier, not the other way around as with banks.

In order to accomplish this goal, we are building first a universal wallet that will be capable to store most popular crypto-currencies and any ERC-20 token. As soon as we have released the wallet, we will build the marketplace.

Market place (Not available until July 2019)

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.

Name Pay : Pro Token

Symbol : PYP

Pre-sale period : January 8th to January 15th, 2017

Pre-sale terms : Min investment of 15 ETH

Pre-sale bonus : Bonus of up to 35%

Main Sale period : January 15th to January 31st

Token Sale Period

The token sale will start on November 22th, 2017 at 21:00h 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.

Token pre-sale

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 either additional tokens.