PayFrequent Is The New Stablecoin Powered by Tomochain
Abstract
Day by day, Cryptocurrency is increasingly recognized by many people in the world. This is one of the advantages of blockchain technology that benefits can be enjoyed directly by the global community. Generally, people are interested in cryptocurrency as an investment because the value of bitcoin has continued to increase dramatically since a few years ago. As a payment system, In terms of technology, there's no question that the cryptocurrencies are ahead. However, due to the high fluctuation in value, this makes cryptocurrency have a high risk for investment and is not ideal if used as a payment system, because when the payment transaction is completed, the value of the coins can be worth much higher or lower than the value when it was sent.
If compared with fiat currency, cryptocurrency like bitcoin and Ethereum has higher volatility, that's why crypto assets are generally not used as a payment system in daily activities like buy goods on the mart, store payments, receive salaries, and others.
Problem
Stablecoins are digital assets designed to emulate the value of fiat currencies such as dollars or euros. This type of crypto allows users to transfer value cheaply and quickly around the world while keeping the stability of value.
There are many Stablecoins that already exist in the cryptocurrency market but they are still not accessible for everyone. The main reason is most of Stablecoins rely on original coins from third parties for their fees and users can only make a transaction if their original coins are available in their wallet.
Apart from its potential to support the adoption of cryptocurrencies, Stablecoin also still has problems and disadvantages. The existing type of Stablecoins is less decentralized when compared to other cryptocurrencies, as a central entity is still required to retain assets to back it. There are types of stable coins that are backed by crypto and there are stable coins that are not backed at all, users must trust the wider community and source-code to ensure that the system is long-lived. Stablecoin is still a new concept and technology, and it will take time to develop properly.
PayFrequent as a solution
PayFrequent has been present to solve all problems and challenges in the world of cryptocurrency. PayFrequent has designed a stable cryptocurrency called PayFrequent( PUSD, PEUR, PayFQ) powered by TomoChain blockchain. TomoChain is the fastest Ethereum compatible chain. The TomoChain and product ecosystem enables the development of high-performance blockchain projects. An array of original features and protocols is designed to support speed, privacy, usability, and liquidity needs all in one platform. The goal of PayFrequent is to offers payment systems based blockchain for a free and fast transaction while keeping the value from volatility, PayFrequent is the answer to make cryptocurrency more accessible and flexible for everyone
Fiat-Collateralized Stablecoins
This is the reason why we have to trust and use PayFrequent, PayFrequent is a type of cryptocurrency known as a Stablecoin that providing a stable price. PayFrequent is a Fiat-Collateralized Stablecoins backed by fiat currencies such as USD and EUR. So for every existing 1 stable PayFrequent, there is a native fiat currency deposited in a bank account to back it. The backed ratio is 1: 1 which means 1 PayFrequent Stablecoin equals 1 unit of currency (such as one Dollar or one Euro).
There are 3 Stable Coins/tokens issued by PayFrequent companies :
- PUSD, PUSD is a Fiat-Collateralized Stablecoins backed by USD $ 1.00
- PEUR, PEUR is a Fiat-Collateralized Stablecoins backed by EUR € 1.00
- PayFQ, You can always redeem 1 PayFQ Coin for an estimated value of $ 0,5 USD.
For now, PUSD already listed on Indoex exchange and available for trade.
https://international.indoex.io/trade/PUSD_USDT
https://international.indoex.io/trade/PUSD_ETH
Also, The team has successfully managed to get PUSD on CMC.
https://coinmarketcap.com/currencies/payfrequent-usd-2/
Below is advantage of using PayFrequent
Reward Without Any Locking Period, PayFrequent based on consensus Proof-of-Stake (PoS) offers easy mining for everyone, PayFrequent provides rewards for holding the coin and locking it for a time. You can hold PayFrequent in any wallet with your private key and spend it anytime without any locking period and get a reward based on the amount of balance that you hold for staking.
Hourly Reward, All users automatically get rewards based on their holding balance. You can spend your balance whenever you want without waiting for the reward to be cleared. All PayFrequent Stablecoin holders are divided into 3 reward groups. Hourly, daily and monthly. Your reward distribution frequency depends on the balance that you hold.
Faster Transaction, The blockchain of Tomochain can handle millions of transactions in seconds and only spend-able 2 seconds. So the speed of transactions can be said to be instant.
Lower Transaction Fees, The base fee for each transaction is 0.01 $ or 0.01€ and unlimited payments can be added to one transaction.
Fully Independent, PayFrequent Stablecoin does not depend on any third party coin for their fees. All you need is an Ethereum compatible wallet and send it to anyone without holding any other token. All fees are paid by token itself.
Conclusion
PayFrequent is a stable value coin that combines the creditworthiness and price stability of Fiat currencies with the advantages of cryptocurrency technology. PayFrequent acts as a safeguard against volatility and PayFrequent able to play a role in integrating cryptocurrencies with traditional financial markets. In addition to usefulness in financial transactions, PayFrequent can be used by traders and investors to protect their portfolios. Allocating a certain percentage of a portfolio to PayFrequent is an effective way to reduce the risk of potential losses due to volatility. Moreover, PayFrequent can be used to lock in profits without worrying about prices going up or down.
Token Information
Block explorer: https://scan.payfrequent.com/block
Token Details: PEUR
Decimal Value: 6
Total Supply: 900.000 PEUR
Contract address: 0x01f83ce6636179b54b0cc0c408f9a8bce40ae776
Token Details: PayFQ
Decimal Value: 6
Total Supply: 51,000.000 PayFQ
Contract address: 0x5e55d0c59287f5f8d540ef0766ca3f3810c71b84
Token Details: PUSD
Decimal Value: 6
Total Supply: 15,600.000 PUSD
Contract address: 0xce98172f4fc9ad02da607843a2c211b7834431da
Company HQ
PayFrequent Limited
Company Number - 216649
Incorporated - 15/11/2019
Registered Office: Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles
Website: https://web.payfrequent.com/
E-mail: [email protected]
WhitePaper: On the web
Telegram Group: https://t.me/payfrequentbounty
Twitter: https://twitter.com/payfrequent
Facebook: https://www.facebook.com/PayFrequent
Instagram: https://www.instagram.com/payfrequent/
Writer: mbahokey
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=978568
Proof of Authentication: https://bitcointalk.org/index.php?topic=5262519.msg54952463#msg54952463