PointPay is a London-based blockchain project, the core of which is comprised of technology and marketing specialists from Russia. The startup raises money through the sale of PXP tokens to develop a one-stop-shop for everyone who wants to pay, trade, or store cryptocurrencies.
The ultimate goal of PointPay is to create the three-faceted ecosystem on the foundation of the Ethereum blockchain. The ecosystem will consist of a bank, an exchange, and a multi-currency digital wallet.
The PointPay Bank will be capable of granting users loans in PXP, the projects native token compliant with the ERC-20 standard, as well as other popular cryptocurrencies. The project also plans to issue the virtual and physical debit/credit cards that work with both crypto and fiat. The Bank will also have a crypto Forex trading feature.
The PointPay Crypto Exchange will support cryptocurrency trading against fiat, along with futures, stocks, spot, and margin trading with a 1:10 leverage. In addition, the Exchange will have its own launchpad to facilitate token offerings by the emerging blockchain projects.
The PointPay Multicurrency Wallet that’s suitable for both fiat and cryptocurrencies and allows instant deposits in USD, EUR, and CNY. There is also a possibility for instant conversion of funds within the Wallet.
The PointPay project is currently conducting the first round of sale of PXP token, which commenced on July 22 and is due to last until March 23, 2020. It will be followed by two more ICO rounds, the first of which will begin on March 23 and end on November 23, 2020. The last round of the PXP token sale is scheduled to commence on the same date and run until July 23, 2021, thus completing the year-long ICO. The price of PXP will differ from round to round, and will be the following:
The event also provides for a token bonus, though there are no specifics to be found on the official website. PointPay offers 500 million PXP for sale, which constitutes 50% of the total supply. All unsold tokens will be effectively burned. 42% of acquired funds will be allocated for the platform and app development, 40% will be used for marketing and branding purposes. The fundraising goals of PointPay looks the following:
PXP tokens can be purchased with BTC, ETH, XRP, BNB, LTC, XLM, USDT, BCH, TRX, and EOS. The investment threshold is a mere $0.1. All interested buyers must get whitelisted and pass KYC. Crypto enthusiasts from Cuba, Iran, Lebanon, Syria, Libya, Sudan, Somalia, North Korea, and Yemen will not be admitted to the token sale.
| Pre-Ico Start date | May 22, 2019 |
|---|---|
| Pre-Ico End date | July 21, 2019 |
| Industry | Finance |
| Platform | Ethereum |
| Founded | 2019 |
| Website | https://pointpay.io/ |
| Whitepaper | Yes |
| Countries | UK |
| Start | July 22, 2019 |
|---|---|
| End | July 22, 2021 |
| 584 days left | |
| Token | PXP |
| Soft cap | $1 000 000 |
| Hard cap | $30 000 000 |
| Minimum investment | 0.10 USD |
| Tokens for sale | 500000000 |
| Accepting | BTC, ETH, XRP, BNB, LTC, XLM, USDT, BCH, TRX, EOS |
I have two points of concern regarding PointPay, the first being the very serious issues with the scalability of the Ethereum network. You probably remember how it got totally congested because of the Crypto Kitties game - a simple game, while we are talking about a fully-fledged banking network here. It won't work until Ethereum 2.0 is launched and fine-tuned. The second issue lies in the immense opposition from central banks towards similar innovative solutions.
Aurora December 1, 2019 Reply
I wouldn't place too much hope in the platforms like PointPay that are built on the Ethereum blockchain, mainly because of its scalability issues, which are well-known throughout the crypto community. Sure, right now, Ethereum is one of the best solutions for the issuance of tokens and smart contracts. But pretty soon, the problems will begin to show, and they would be especially acute for PointPay and other finance-related projects because of a significant reduction of transaction speed.
NIcky J1 November 11, 2019 Reply
PointPay is merely the next one in the long line of blockchain projects that try to establish a foothold in the realm of online banking. None of them managed to achieve any sizable results, mainly because they fail to understand that people will keep distrusting such startups unless the proper regulatory framework will have been developed and implemented. Cryptocurrencies are a fun instrument for speculations, but they don't constitute the reliable assets, around which the global banking ecosystem should be built.
XeniaX October 12, 2019 Reply
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