PumaPay ICO: Token Utility Breakdown

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PumaPay is far-reaching billing platform that combines the best elements of established payment methods with Blockchain technology to create a new array of services to pay for goods and services using digital currencies. The company will handle all operations within their ecosystem using The PumaPay Token (PMA). The utility is being built using the ERC233 protocol of the Ethereum network to secure every token and avoid loss of revenue on designated operations. The token is also the tool the company is using to finance their operations. By following a strict roadmap, the company is looking to be integrated with Android, ImLive, iOS, ChatMaker and early adopters by the first quart of 2019.

First step: the Token Generation Event

The proposed structure of the ICO goes as it follows: the company will hold a Token Generation Event to secure funding to intimate their operations on March 22nd of 2018. For 15 days PumaPay will do its best to gather a specific number of Ethereum at a fixed cost for initial investors offering a 5% bonus to any contributor that reaches the $5,000 mark. The soft cap for this TGE is of $15 million or 15,000 ETH. PumaPay has stated that failure to meet these goals will scrap the project and contributions will be returned.

The Use of the TGE earnings

If PumaPay succeeds raising the capital, they need the proceeds will be used to develop the technology needed for integration. The proposed distribution of the money earned will go as described next: 40% will be used to implement the PumaPay protocols stated in the roadmap. 27% will be used to cover for operational costs, 20% will be directed to cover the costs of the Token Generation Event, 10% will go to pay the salaries of the team of developers and 3% will remain into the company’s accounts to secure a certain level of liquidity.

The PMA allocation structure

The token allocation is very clean and simple: 30% of the total amount of PMA generated will go to the public sell in the pre-ICO and ICO events. Another 30% will be allocated to fund the development of the protocol, the platform, and the PMA token as well as any future plans for strategic development or expansion of the PumaPay ecosystem. 17% will go to launch partners and early adopters. 13% will be distributed among the advisors that helped to develop the platform by offering funding or support as well as covering their professional fees. This share will also cover all the expenses related to bounties and bonuses offered during the TGE. The last 10% will be shared between the founders and their developing team.

The company certainly seems to be doing a smart play by securing funding via the TGE before releasing the availability of the total number of tokens. PumaPay is looking to attract as many actors as they can to their proposal to secure the success of the platform. Is not a bad strategy, but the user who needs every bit of information could be restless against the notion of uncertainty. PumaPay still is handling their operation like an open book, to learn more about them you can visit https://pumapay.io/, Telegram, ANN Thread, BOUNTY Thread