In this article, we would like to introduce PAID Network known as a First Borderless Civil Legal System using DeFi tools. We’ll be covering the following topics:
- What is PAID Network? How does PAID Network work?
- PAID Tokenomic: key metrics, token allocation, and token use-cases.
- How/Where to earn and store PAID tokens?
- Roadmap & Updates.
- Team members, Investors, and Strategic Partners.
Let’s explore the potential of PAID!
What is PAID Network?
PAID Network is a DApp offering users easy-to-use web and mobile apps, enabling them to do business with anyone anywhere, without the need for expensive legal services. With this in mind, PAID is attempting to create the world’s first decentralized legal system (DeLa) to revolutionize the traditional judicial system.
To do that, PAID removes the unnecessary complexity of creating and executing documents as well as breaking down the borders that complicate arbitration. PAID operates on both the Ethereum and Polkadot ecosystems.
In addition, PAID introduced a suite of new DeFi tools including launchpad, staking, insurance, and escrow, allowing users to complete the business agreement process from beginning to end through the platform.
How does PAID work?
PAID is primarily based on the features of DeFi protocols, with the following outstanding elements:
PAID Ignition Platform: Decentralized swapping protocol for blockchain-based token projects offering access to private and public pools in ETH or BNB to PAID token holders.
Users must have the PAID for a specified amount of time in order to join the Launchpad. The return on investment from Launchpad initiatives will be attractive, motivating users to buy and keep PAID.
PAID Network has 3 Launchpad with different purposes:
- IGNITION: Ignition will allow PAID token holders the opportunity to participate in curated and novel private and public token auctions.
- APOLLOX: Apollo-X is an IDO platform which Master Venture has dubbed Ignition’s wilder, more adventurous cousin.
- PAID Network India: PAID Network India will enable the Indian population a new level of accessibility to the blockchain and crypto market, which was previously unavailable.
PAID simplifies executing and enforcing legal contracts by removing all the unnecessary wording. With PAID’s proprietary SMART agreement templates, users can quickly fill in terms and execute simplified business contracts on their laptop or mobile phone.
Reputation scoring is similar to the credit scoring mechanism of financial institutions. When a user creates a PAID profile and the system confirms their identity, they are given a reputation score, which starts at zero.
Based on feedback from persons with whom they do business, their reputation score will rise or fall. This is a very important metric that will be used a lot in other features on PAID Network.
Escrow & Lending
Escrow borrowing and lending will take place via a decentralized P2P marketplace on the PAID platform. Escrow funding requirements will be based on the reputation score of the borrower involved in the agreement. The reputation-scoring method developed by PAID will give an accurate assessment of borrower integrity in order to reduce the lender’s risk exposure.
Borrowers can submit requests to the community based on their needs or interests, while lenders can promote loan offerings.
Insurance premium amounts will be set according to perceived risk, assessed by using the reputation score of the payer.
In the event of a dispute, PAID stakers can act as Arbitrators. Three arbitrators can be chosen at random using the Chainlink VRF protocol to vote on which party should receive the assets. If a disagreement arises, the Arbitrators will determine the ultimate outcome of the disputed case.
What is the PAID token?
PAID is the native token of the network that acts as the core utility within the PAID ecosystem.
Detailed information about PAID Token
PAID Key Metrics
- Token Name: PAID Network.
- Ticker: PAID.
- Blockchain: Ethereum.
- Contract: 0x1614f18fc94f47967a3fbe5ffcd46d4e7da3d787.
- Token Standard: ERC-20.
- Total Supply: 594,717,455 PAID.
- Circulating Supply: 107,728,572 PAID.
PAID Token Allocation
- General Reserve: 9%.
- Exchanges and Market Making: 1%.
- Research Foundation: 20%.
- Ecosystem and Referrals: 25%.
- Team & Advisors: 20%.
- Staking Rewards: 10%.
- Public $ Private Sale: 15%.
PAID Token Release Schedule
- Research Foundation: Unlock month 7, then unlock over 60 months.
- Ecosystem and Referrals: Unlock month 2, then unlock over 60 months.
- Team: Unlock month 12, then unlock over 24 months.
- Advisors: Unlock month 2, then unlock over 24 months.
- Staking Rewards: Disbursed to stakes at 30% APR.
- Public Sale: 100% at listing.
- Private Sale A: 10% at listing.
- Private Sale B: 25% at listing.
- Seed Sale: 1-month lock, then unlock over 9 months.
PAID Token Sales
- Seed Sale: $0.015.
- Private A: $0.025.
- Private B: $0.035.
- Public Sale: $0.042.
PAID Token Use Cases
Staking: Stakers are rewarded PAID for locking up their PAID tokens in staking nodes.
Burn: 25% of the network transaction fees are burned. The remaining fees are collectively gathered and distributed: 25% to stakers and 50% to the PAID Treasury.
Access Token: Purchasing Agreements and Subscriptions Services Fee.
Join Launchpad: In order to participate in an IDO on PAID, users will need to hold a specific minimum of PAID tokens. Users stake PAID for 14 days on preferred Tier on IGNITION, APOLLOX, or PAID Network India. After that, users get guaranteed allocation according to the rank staked.
Besides, PAID holders can utilize PAID in DeFi services of the PAID Network such as insurance, lending, escrow, and arbitration.
How to get & store PAID Token
You can use Coin98 Wallet to swap other tokens for PAID following these simple steps:
Step 1: Open Coin98 Wallet on your mobile phone & click Search Icon on the home screen.
Step 2: Select PAID Token (PancakeSwap for BSC or Uniswap for Ethereum) at Swap Tab.
Step 3: Adjust the amount you want to swap.
Step 4: Adjust the gas fee, then click Approve.
PAID released the flagship Ignition and Apollo-X launchpads. The upcoming features are the Decentralized Autonomous Initial Coin Offering (DAICO) solution, as well as the PAID DApp — which is designed to dramatically increase the efficiency of doing business in dozens of industries.
Now, PAID will be hosting an invite-only beta program to give some of the community members an opportunity to test a near-final build of the DApp. The completed version of PAID DApp is expected to be released in Q1 2022 according to the PAID roadmap.
Team, Investors, and Partners
Kyle Chasse – CEO of PAID: In 2016, Kyle was deemed “smart money” by investors during this time period as he began lucratively analyzing, investing, and advising infrastructure and protocol projects from Coinbase, UBANX, Bitfinex, ULTRA, RNDR, and several others, holding impressive amounts of equity and tokens.
At the end of 2018, Kyle founded Master Ventures (MV) – a blockchain advisory & think tank based in Koh Phangan. Master Ventures advises Tier 1 projects like Spl.yt, UBANX, EVEN Network, Ultra.io, and Elrond.
Is PAID a good investment?
Paid is leading the transition to a fully decentralized Legal system. Legal bureaucracy is one of the big pains in the business world. There is great potential if PAID can take advantage of Blockchain technologies to solve this problem.
PAID proposes to merge the Decentralized Finance (DeFi) with the legal system (DeLa) in order to create network effects of many protocols.
PAID has a market valuation of $55 million and is ranked 623. PAID will possibly develop in the future if it follows its own path.
PAID has organized over 50 IDOs with very good ROI, this can also be viewed as an investment opportunity. PAID will host an average of five IDO per month, most of which will be concerning GameFi and DeFi.
DAO Maker, BSCPad, Lauch Zone, Polkastarter, etc.
In this article, I have also introduced you to PAID Network and how about your opinion, is PAID worth investing in? You can comment your views right below the article so we can discuss more.
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