PayAccept | A DeFi Project from Netherlands
Hello! As Crypto markets get more mature, as bull market slowly begins, there are some brilliant project starting to emerge.
So here I am with another project called PayAccept which is a DeFi project so It goes along with the current trends, and solves great problems.
A short explainer video:
PayAccept is a decentralized finance (DeFi) company, based in the Netherlands. It supports 50+ cryptocurrencies from start, which probably will increase in the later stages. You can pay or get payments with its wallet, do financing , loans (DeFi) and so on.
PayAccept has its own PAY token, which will be used for all kinds of payments. It has crypto-backed loans, airdrops, and staking option as it is POS coin.
Tokenomics
Their ICO is ongoing, so let’s take a look at the tokenomics:
- Initial Offering on Exchanges: 15m
- Team funds (locked): 5m
- Funds for listing, airdrop, bounty and marketting: 5m
Initial supply 25m,
Tokens to stake: 19,6m
Tokens in circulation: 375k
TOTAL: 45m PAY tokens
Right now, 1 ETH gives you 1000 PAY tokens.
You can check the whitepaper here.
Note: If you participate in ICO, you’ll get PAY tokens. In case you can buy directly from Exmarket or UniSwap “PAYT” token, they’re exactly same. When PayAccept will hit the all exchanges, there will be a 1:1 swap for PAY token holders as far as I can see.
Exchanges
After September 2020, PAY will be live on UniSwap, Cointiger, Probit, NEXT.exchange, IndoEX, EXMarkets, Bilaxy, Hotbit, fatbtc, Stex and perhaps idex and Hitbtc (last two are to be confirmed)
New projects are generally listed on one or two exchanges, but PayAccept seems brilliant in that manner. It will be live on 10+ exchanges from start, meaning more liquidity and easy accesibility. People will see it, they will talk about it. This is great for marketting.
Staking
After September 1st, 2020, if you decide to stake your PAY tokens you will get 10% annually for staking. And the biggest holders (>45k PAY) will be able to become PayNode holders, who get 50% annual return. It is reserved for top 10 holders though.
Great Security
PayAccept wallets are encrypted with SHA512, as you might know most other coins use SHA256 (including Bitcoin), we can say PayAccept uses a better encryption and is more secure.
Experienced Team
Christiaan van Steenbergen | Founder
CEO of the project is Christiaan van Steenbergen, who is also founder of NEXT.exchange. He has a Computer Science and Engineering degree from Eindhoven UoT, then a Cryptocurrency and Disruption degree from The London School of Economis and Political Science (LSE).
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CMO and CCO are also very well educated and experienced for a project like this. You can check their Linkedin Profiles here or below:
Gleb Jout | CMO
Johannes Tarquin Bucur | CCO
They already operate NEXT Exchange that has almost 50k registered users, mainnet with 150+ masternodes and $1m approx. market cap as of 2020. Even though NEXT is focusing on cryptocurreny exhange, PayAccept will fill the fiat-crypto gap, giving some services like credit cards, payment processing and so on.
Price Volatility Shield
PayAccept has a great function called “price volatility shield” which protects companies from the price volatility of cryptocurrencies. When they get a payment as dollars or euros, they will get it exactly. (only with a minus 1% fee).
So as can be seen, PayAccept is not only for traditional customer, but also great for companies doing business online. They will be able to get paid easily.
Roadmap
After the token sale, they got:
- September 2020, “Launch of PoC — Decentralized wallets with atomic swaps”
Listing and staking on 10 exchanges - October 2020, Launch of mobile wallet for iOS and Android
Deployment of first PayAccept terminals - November 2020, Start of DeFi borrowing and lending platform
So they’ve got plenty of things in a couple of months, from the beginning. It looks they’re trying to release as much as they can in a very short period of time. Huge plus for me.
Pay Card
Because PayAccept is a Netherlands company, It can get funds via local bank transfers like SEPA, ACH, FPS and so on.
You can spend your cryptocurrency via **PayAccept contactless Visa card.** It can be used worldwide. Only thing you’re going to pay is exchange rates and miner fees.
In Conclusion
PayAccept is a DeFi project that will be a bridge between fiat currencies and cryptocurrencies. It has a potential to be vastly used in a couple of years, because as cryptomarkets get wider, people will need to get a card to spend their cryptocurrencies for example, and PayAccept does that easily. Also Companies will use it to get paid easily, without being affected by price movements. On top of these, if you have PAY tokens you can delegate your tokens to get 10% interest a year. Brilliant. Also being a Netherlands (EU) company, their legal ground look clear.
EU company, DeFi, bridge to fiat-crypto, looks great.
See you in another review,
Cheers.
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PayAccept Website
PayAccept Telegram Group
PayAccept Bitcointalk Bounty Thread
renemagritte | https://bitcointalk.org/index.php?action=profile;u=1394165