Update from PAWS — October 2019


Hello PAWSians.

Lots of things are happening at the moment. Just a few weeks ago, we released our first plugin that will make it possible to process payments on any webshop running Woocommerce. The reason we picked Woocommerce, is that is it the biggest e-commerce platform out there atm. I know of 1 webshop using it and several have asked me questions and expressed interest. The PawsPay plugin is not a solution that will process the conversion to BTC for you. In fact, we are not involved at all and are not a payment processor, apart from providing the plugin and backend code to make it work. The PAWS that is paid, will go straight to you own wallet, and you can either collect that as a true HODLer or you have to convert it to BTC if required yourself. PAWS will not take any fees or charge a startup fee at all. It is totally free for your to use and integrate in your webshop.

I hope we can follow this up soon, with our own mobile wallet. The mobile wallet will be a perfect partner for the PawsPay plugin, due to the fact that the plugin displays a QR code with the address you need to pay to. This will greatly simplify paying in any webshop using the PawsPay plugin as you only need to scan the address to pay to, followed by entering the amount required. And not only will it be useful as a compagnion for the Woocommerce payment plugin, it will also be useful in any physical shop that wants to accept PAWS as payment. The very same QR codes can be printed and attached close to the payment terminal for easy scanning. The same mobile wallet can be used by the merchant to verify reception of the payment.
We are looking into integrating PAWS into an existing multi currency wallet or having one created for PAWS only. The primary would relieve us from having to worry about keeping the wallet up to date, providing wallets for Android and iOS and worry about how to get them through the Apple and Google verification before being able to be accepted in the Apple Store or Google Marketplace. The secondary might be cheaper to realize and it will create a wallet for our very own coin giving us the option to customize it and use it as a portal app for the upcoming donation tracker tool.

The sudden requirement for KYC by Crypto-Bridge and the announcement that CoinExchange will be shutting down has been sending shockwaves through most communities. I would like to urge our community to pull out their assets from CoinExchange as soon as possible, in particular BTC, PAWS and VAULT. Trading will stop on 15/10 and it will only be possible to withdraw assets until 1/12. CoinExhange has become a lot less responsive than they used to be, so don’t wait until the last minute only to find out that the wallet is broken or otherwise not working as we don’t expect them to be fixed.
Deposits on Crypto-Bridge are suspended on our request, as we investigate several issues after KYC was introduced on Crypto-Bridge. When we open the market for deposits again, we will let you all know. For now, you will have the option to use Instantbuy on MIDAS and use the Birake exchange (Midex). PAWS will also be able on the new MIDAS exchange when it opens. We are searching for a replacement for CoinExchange as a CMC qualifying exchange. More on that real soon.

As I’m writing this, we have reached block height 499094 on our blockchain. It has been running extremely stable in the past months. It means we will be reaching block 500000 in roughly 15 hours from now. It is crazy, but it means we have reached phase 51, meaning that we are only a few weeks from the final block reward change. The block rewards will drop to 5.6 PAWS per block meaning that a masternode reward will be 3.92 PAWS. With 1174 masternodes in the network, it means you will earn approximately 4.81 PAWS a day per masternode, which means a yearly ROI of 175%. It means the ROI will drop to 156% if the number of masternodes stays stable the coming weeks. With an expected total supply of 3,800,000 PAWS by 24/10 (1 year after genesis block) and a yearly emission of 2,628,000 PAWS (1440 x 5 x 365) we expect it to take another 6 years and 9 months to reach our softcap of 21,000,000 PAWS.

On a happy note, I would like to encourage everyone to join the PAWS lottery that Mike has been running for us so generously. He has 2 lotteries that follow the numbers pulled in the dutch national lottery. The numbers are published on the official website every week. One lottery donates the profits to charities, while the other donates profits to the big burn. Tickets or numbers cost 50 PAWS. With 45 numbers a filled lottery will collect 2250 PAWS. 1000 PAWS will be paid as winnings, leaving 1250 PAWS to be burned or donated.

So what about the massive burn of PAWS we talked about on our 1 year anniversary? It is coming! We have been doing the math, and we will be able to use your donations to the BURN address, the profits of the burn lottery and add most of the funds that we own (premine mostly) to reach those 1 million PAWS and burn the promised amount to remove some of the pressure in the coin supply and make PAWS more scarse.

Needless to say, that we need demand which should be stimulated by the believe in the team and results for the project, but a reduced supply will most definitely create some hype and create a better environment for demand to increase the price of the remaining coins. Time will tell, but one thing is for sure, more info will follow when we move closer to the 24th of October.

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