The centralized financial world is on the trail of a crisis due to unorganized governance and low community control, decentralized finance (Defi) is challenging today, creating its transparent governance, the invariable flow of events algorithms on the blockchain. The popularity of new Defi experiments baffles banks but gives the future and hope for changes in the rules of the game, digital money under private control, financial instruments for the control of communities. Plasma seeks to achieve the outcome of a payment ecosystem with professional financial instruments where researchers, scientists, creators, and financial markets can negotiate and create conceptual solutions in the open lending, investment, forecasting, trading, and tokenized asset sector. The use of Plasma for the implementation of financial instruments on its basis allows achieving high speed and confirmation of transactions, protection against double-spending, great computing power for executing algorithms, and reliable data from cryptocurrency traditional financial markets.
Problems the Plasma Community Solves in development and mass adaptation of Defi technologies in High Fees, Low Transaction Speed, Darkness Fiat on/off Ramp, Bad Users Onboarding. High Fees Due to the high cost of gas on the Ethereum, smart contract transactions are very expensive for users Low Transaction Speed Due to network congestion with transactions, the confirmation rate of transactions drop to several tens of minutes Fiat on/off Ramp Defi apps do not have direct access to fiat payment channels, which greatly complicates mass-market access to their products Users Onboarding Defi application’s interfaces are very complex and require a high level of user expertise in the crypThe problem to be solved, tools in one application, DefI is not standard and this is its advantage, complex logic for working with counters require a convenient interface. The speed of DefI is limited by primitives and we provide a cross-chain bridge for the effective operation of a contract under the control of the main release chain like Ethereum, we combine exchange tools with contract functions, allowing us to integrate any protocol for handshaking. It is very important for the Plasma community to abandon centralized liquidity, as it is expensive to maintain and assets move very slowly, but using the tools offered, crypto will be able to compete in a means of payment with low fiat ramp fees, without blockchain fees per transaction.tPlasmaPay acts as a collector of fee from Defi instruments, for example, an exchange in PlasmaSwap, a trader will pay a fee of 0.3% where 0.05% will go to the Stake Holders, and 0.25% of commissions will go to a liquidity provider, PlasmaPay plans to use a commission collector in all Defi dApps. In real-time, users earn PPAY proportionate to their stake PPAY; this is separate from the natural interest rates in the market. Once an address has earned 1 PPAY, any PlasmaPay Defi Dashboard transaction (e.g. unstake PPAY) will automatically transfer PPAY to their wallet; for smaller balances, an address can manually collect all earned PPAY. o space
The PPAY is a community utility token and unlocks the full potential of the Plasma ecosystem. PPAY token holders should be people who somehow interact with the ecosystem, committed to its future development, and want to participate in governance. This is how we aim to truly decentralize and harmonize community members of Plasma
PlasmaPay Defi Dashboard is a decentralized platform for managing and trading cryptocurrency and tokenized assets. А Dashboard helps non-technical users to acquire, track, and manage Defi protocols. This platform allows transactions with assets from Ethereum and on future Polkadot, Cosmos, EOS, and other blockchain chains through the HyperLoop cross-chain bridge. PlasmaChain has a high speed and transaction confirmation without blockchain commission (example: Ethereum GAS). The user's assets remain completely under his control, trading is carried out by logging in and signing a transaction through wallets without transferring private keys from accounts to the platform.
Stake PPAY allows the community to vote for delegates as well as changes and updates to the PPAY protocols. This mechanism will be activated upon the distribution of 52.5% of all tokens from the emission. Voting on proposals will be carried out by delegated voters. If sufficient support is obtained by the end of the period, the offer will be automatically accepted. Accepted offers are queued and executed in the contract after a temporary review. A voter cannot create another Once a proposal is created, the community can vote for a 7-day period. If the proposal is submitted by a majority and at least 40,000,000 votes, it is put on the queue for temporary consideration and can be implemented within 7 days. Governance Fund will be deployed to attract and incentivize strategic partners that will help the PPAY ecosystem grow and thrive. PPAY holders will be able to elect new initiatives by voting. Governance Fund will be deployed to attract and incentivize strategic partners that will help the PPAY ecosystem grow and thrive. PPAY holders will be able to elect new initiatives by voting.
Providing decentralized financial services to the public with no permission required, low fees, and easy-to-use financial features available to everyone. Decentralization of management of the protocol and its smart contracts and a governed community, with distributed responsibility and lack of control from one person. Open governance structure, no subject has the right to censor the protocol. Fair and equal treatment of members, ensuring an equal distribution of the asset for activity in the system. Adherence to a non-profit policy. No voting member has less information about the decision than others. Updating and changing and improving the protocol by the majority.
Head to PlasmaPay Defi Dashboard
Switch to the Governance tab
Click Voting or Proposal
Sign the proposed ones, vote for the delegate, create your proposal with a xPPAY token from Stake
The distribution of PPAY will become a core mechanic of the PlasmaPay Defi Dashboard. All users and all applications built on top of PlasmaPay will continuously, and automatically receive governance rights, for free— in order to shape the future of the platform. Stake and un stake LP tokens, smart-contract will automatically harvest PPAY rewards for you. Reward Reserve 52.5% of total PPAY token with 24 month period.
525m PPAY will be placed into a Reservoir contract, which PPAY per day into the protocol for distribution The distribution is allocated to each market on liquid pools (ETH, USDC,DAI, PPAY…), proportional to the interest being accrued in the market; as market conditions evolve, the allocation between assets does too. Once an address has earned 1 PPAY, any PlasmaPay Defi Dashboard transaction (e.g. provide liquid or unstake PPAY) will automatically claim PPAY to their wallet; for smaller balances, and address can manually collect all earned PPAY.
Buy and Sell cryptocurrencies with your bank card, wire e.t.c Part of the fee goes to the buyout and distribution to the PPAY stakeholders. Earlier we used liquidity of third-party partners, but now we will fill the pools with liquidity from PlasmaPay Dashboard & HyperLoop protocol and all transactions will be displayed through the liquidity pool win-win.
PPAY Emission Model PPAY will be issued across 11 pools with various lockups and cliff periods. 52.5% of the supply will be locked for liquidity mining.
Distribution & price modelThe PPAY token generation event will bring to market a very limited token supply, 5.7% for both trading, staking, and utility. The community will get the most from the distribution.
PPAY timeline & use of funds Distribution of PPAY will be completed by the end of 2022. Our staking incentive and unique utility and buyback program will burn up to 20% of the supply which will leave only a limited number of PPAY tokens on the market.
Early investors get better deals, help us jump-start the plasma ecosystem, and are first and foremost members of our community.
Formation of liquidity pools on Uniswap e.t.c with the release of additional tokens to start their circulation.
Founders and early teams reserve tokens in the vesting period.
Assistants and followers in the early development of the project receive tokens with a vesting period.
Reserve for distribution for promotions, content management to maintain noise around the project with a vesting period. Will be completely transparent and consistent with the governance.
The community will receive most of the PPAY tokens, in a period of 24 months for liquidity mining, will be able to participate in the voting and management of the protocol, and develop the PPAY token ecosystem.
Original roadmap & achievements
Initial stage: Team building We gathered the best team of enthusiasts and hackers and got ready to work seven days a week to build the future for digital money Successful launches PlasmaPay MVP Website and interface developed user can creating wallets and send coins Ethereum and Bitcoin.
PlasmaPay Successful launches Beta Strong interface, Support: Non-custodial wallets: - BTC wallet - ETH wallet Generating Mnemonics, Creation of invoices and history of transactions.
PlasmaPay Support: - ERC20 tokens; - Simplex (buy crypto with card); - Wallet bots for Telegram; - Two Factor Authentication.
PlasmaChain Testnet - Beta Full launch testing and loads of producer nodes
PlasmaPay PlasmaWallet Our PlasmaChain blockchain has got an interface and wallet creation. PlasmaPay IOS/ANDROID App The mobile version of the web wallet is now available
PlasmaPay support Buy crypto with credit card (processing); Our clients were no longer satisfied with partners for the purchase of cryptocurrency and we created our own processing on our best terms. PlasmaPay OAUTH for dApp on PlasmaChain We made it possible to connect and create applications in the wallet, thereby anyone who created the application receives the interface of the personal account for users. PlasmaPay support EU and Asia Banks We are not limited to one fiat partner, and for the stability of the system, we are constantly in the race for better conditions and security. PlasmaChain Public Smart-Contracts Environment; For the growth of an infant into a child, we opened the door for external developers, but we still control the processes.
PlasmaChain Oracle network Now the blockchain is filled with rates every second from trusted sources and is also verified by all node holders. PlasmaChain 42 StableCoins We have launched an experiment on the creation of core bankless assets on the blockchain as well, secured through fiat partners in tight coupling PlasmaChain first dApp Dice Game For a pure experiment, we launched a dice game with fair random, and all stablecoins on board. PlasmaChain Mainnet Liberty Live Launching the main network after a successful network performance and security test PlasmaPay Mainnet PlasmaChain wallet Create addresses and wallets on the mainnet PlasmaChain Public Node Environment Only members of the plasma alliance are still allowed to code, but you can touch the blockchain interface and start validating blocks. PlasmaChain Data Explorer Statistics of all transactions, rates, and the slightest movement in the PlasmaChain, outside observers can now also help control the integrity.
Q4 PlasmaPay Crypto Checkout Plasma Alliance opened a corporate account on 5 major cryptocurrency exchanges and launched a service to purchase cryptocurrency with a bank card. PlasmaPay Business Checkout Plasma Alliance agreed with Visa/MC card processing providers and bank on integration and launched a crypto-fiat accounts for eCommerce businesses. PlasmaChain Smart-contracts Example tools We encourage our partners to launch their applications in the future with ready-made components in open source for fast application development. PlasmaChain Enterprise Chain Participation among the winners in the Rolls-Royce hackathon Launch of a private program for corporate blockchain networks
PlasmaChain powerful TX microprocessor Processing a transaction in the debit card layer requires their speed of execution, and here we are limited not only by the power of the blockchain but also by the environment, we have strengthened these functions and continue to work on this every day. PlasmaPay E-commerce Module for Business Checkout online stores are sold in ready-made boxes with all the functions, we have given these boxes integration with payments from PlasmaPay in one button/ PlasmaPay Business SEPA or SWIFT Off/On- Ramp The business got a job with their bank accounts for the circulation of their money, a small step for the ordinary, huge for the individual crypto.
PlasmaChain and PlasmaPay - Big security update - Hashicorp Plugin; - New encryption; - 50% of the code base; - Update APIs.
PlasmaPay Support new fiat processing partners We are not limited to one fiat partner, and for the stability of the system, we are constantly in the race for better conditions and security. PlasmaPay Support powerful Dashboard for Business Purchase history with detailed statistics in the merchant's store PlasmaChain WEB IDE fast environment for working with smart-contracts PlasmaRooms MVP on board https://rooms.plasmapay.com/ Encrypted video conference rooms with built-in crypto payments based on smart-contract PlasmaChain, This application allows you to experience the power of the Plasma ecosystem and how conventional applications can exist in the new web3.0 economy.
Plasma launches PPAY token New utility token of Plasma ecosystem, to accelerate development and achieve decentralization. PlasmaPay launches Defi Dashboard MVP (ERC-20) Interface inside the PlasmaPay wallet, with access for other alternative wallets to the functions of DeFI projects, testing on a PPAY token. includes functions: - Swap - Liquid Pools PlasmaChain HyperLoop cross-chain beta (Ethereum to PLASMA); Bridge protocol for controlling locked assets in multiple chains and unlocking in active ones. PlasmaChain launches Synthetics protocol; Supplement to the bridge protocol for the atomic creation of synth tokens secured by blocking in alternative blockchain as example Ethereum. PlasmaChain launches HyperLoop (Cross-chain Oracle network) Hyperloop bridge protocol management should evaluate not only the rates, but the total value of the transaction, the number of tokens, transfer of ownership, and other indicators to achieve transparency in the transportation of assets.
PPAY token activates Staking PPAY holders will earn a portion of the trade fees based on the amount of xPPAY held relative to the weight of the staking. Where the tokens are staked to ensure the network remains secure, as good Delegates in Governance are rewarded, and bad actors lose their stake. PlasmaPay launches Defi Dashboard Beta New features: - Staking - Lending - Borrow - Governance - Yield Farming PlasmaRooms launches Encrypted video conference rooms with built-in crypto payments based on smart-contract PlasmaChain, This application allows you to experience the power of the Plasma ecosystem and how conventional applications can exist in the new web3.0 economy.
PlasmaChain launches HyperLoop Cross-Chain Bridge in Mainnet Launch in combat mode and start trading on real assets. PlasmaPay launches Defi Dashboard Beta Support integration gate for smart-contracts partners: - Uniswap - Balancer - Compound - Aave - Yearn.finance - Synthetix PlasmaPay DeFi Dashboard support CrossChain (ETHEREUM to PLASMA) New opportunity for partners to transfer contracts and tokens to plasma chain and trade between blockchains PlasmaPay pre-order Visa Crypto Card; Token holders will be able to order cards under better conditions, for the future circulation of a decentralized non-custodian account, your card will open access to ATMs and online stores around the world
PlasmaChain HyperLoop Cross-Chain support - Cosmos - EOS - BinanceChain PlasmaPay Defi Dashboard Support new assets: - Cosmos - EOS - BinanceChain PlasmaPay Activate Visa Crypto Card program First cardholders will be able to start testing and spending their crypto coins everywhere. PlasmaPay Update mobile apps IOS/Android with all functions in web PlasmaPay. Our web application is always ahead, but we do not forget about mobile applications, however, they must be identical
Public PlasmaChain Migrate from private to public mode launch in combat mode and start trading on real assets.