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 |
| 548 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 |
After getting a better insight into the issues with the Ethereum network, with all its scalability problems, time bomb, and clogging, I decided to disregard the fintech startups that offer the products on the basis of that blockchain. I reckon that Stellar, EOS, or even TRON, are far better platforms in the long run, though they are currently underperforming in comparison to Ethereum. That is why stopped reading the PointPay whitepaper after getting finding out on which blockchain they have built the three-faceted ecosystem.
Know1tAll January 8, 2020 Reply
When I first saw the introduction to the PointPay project, I was nothing more than skeptical. "Ah, here is another crypto bank that boasts about disrupting the financial sector - so boring," I thought to myself. But after getting a better insight into PointPay and its ecosystem, I have changed my mind. The team has already rolled out a functioning cryptocurrency exchange and digital wallet, which is uncommon for most ICO projects.
User120984 December 12, 2019 Reply
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
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