Welcome to the PAID NETWORK $PAID LIVE AMA wih The Gem Hunters! We would like to thank the team for coming today and sharing information with the community!
Kyle Chasse | PAIDNetwork
Thank you so glad to be here... and guys just so you have our links, here they are... Remember you must be in our telegram channel and following us on twitter to win any prizes
Absolute pleasure to have you guys here, PAID Protocol is possibly the most explosive project to hit crypto so far in 2021 and we cant wait to hear about it! So please go ahead and tell us what PAID Protocol is all about and what problems is it trying to solve?
PAID is a decentralized protocol 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 PAID’s proprietary SMART agreement templates, users can quickly fill in terms and execute simplified business contracts from their desktop or mobile phone. PAID removes the unnecessary complexity of creating and executing documents, as well as breaking down the borders that complicate arbitration. Through the community-governed arbitration system, disputing an agreement has never been easier or more efficient.
Check out our medium - https://paidnetwork.medium.com/
Great rundown and that’s some vision, now can you give us an insight into the team responsible for pursuing that vision, what are the team back grounds and experience?
The PAID Network Team consists of 19 members who bring in decades of combined experience from corporates & start-ups as well as a deep understanding of the Blockchain space. Our team has a ton of experience in the traditional corporate world as well as the crypto space… our team has experience from companies such as Huawei, Goldman Sachs, KPMG, Dell, Ripple, Binance, Shell, DraftFCB, Deutsche Bank, BNY Mellon, Bloomberg, Amazon, Microsoft, and Kraken. We actually just posted a medium article like an hour ago covering this, check it out!
We've got to say, as soon as we saw the PAID team we were sold!
Thanks man... We know what we are doing... We know how to make our investors and token holders happy.
So we know what PAID is with regards to redefining the civil legal system with the application defi protocols, but how big is this sector, what potential has PAID got entering this industry and other potential use cases does PAID boast?
So the PAID token can be staked via smart contracts giving access to a variety of benefits and features, could you elaborate on how investors can make the most and take advantage of this service?
PAID can be “staked” (i.e locked up) within protocol smart contracts, giving access to varying levels of features and staking returns across the platform. PAID has carefully architected the following phases of staking in order to incentivize participation in the network.
After the DeFi tools have been released, the following staking levels will be available:
Participant -15,000 PAID tokens
Manager - 75,000 PAID tokens
Receiver - 150,000 PAID tokens
Professional - 250,000 tokens
Arbitrator - 1,000,000 tokens
What prior knowledge do people need to be an arbitrator? Is there a guide available to soak up the idea? What are the responsibilities of this activity? How compliant is it to traditional regulators?
PAID arbitrators will be the highest level of staking and will require a significant amount of PAID tokens at stake to qualify. We go on game theory to assume that since they have a lot of value at stake they will do what’s best for the network. We will likely also have several honorable arbitrators that specialize in different industries.
The platform is designed to provide an entirely self-sufficient alternative to the current civil legal systems, including litigation. This is the ultimate goal and SMART Agreements will not be able to be held up in court.
Your currently In the pubic sale stage, how did it go? You’ve also just secured a huge partnership with Polkastarter! Tell us about that and how its going to benefit both projects, what other big partnerships and collaborations have you guys secured and is there more on the horizon!?
PAID Network’s Initial DEX Offering (IDO) on Polkastarter will take place on January 20th. Since Polkastarter’s launch on December 14th, numerous projects have held sold-out token sales, including SpiderDAO, MahaDAO, and Fire Protocol.
Polkastarter leverages Polkadot’s multi-chain infrastructure to run decentralized fundraisings taking advantage of cross-chain token pools and auctions. Investors benefit from a number of additional yield-earning opportunities on the cross-chain IDO platform. After the token sale, PAID tokens will be listed on UniSwap, allowing token holders to earn yield through liquidity mining immediately as well as staking on a popular CEX.
The Polkastarter DEX brings “unrivaled liquidity” to its pools in several ways. Automated liquidity is provided to token swaps and pools through the cross-chain liquidity protocol of Orion. Liquidity providers (LPs) are further incentivized by the opportunity to earn rewards in Polkastarter tokens called $POLS.
As for the partnerships, There are so many that we don't even know yet or have thought of... There are so many cool innovations happening in crypto and so many seem to add value to what we are creating and by making these partnership it equals more value to PAID and less work for us, of course the most obvious are other projects that want to use PAID within their company/project.
Lastly, when can we expect the actual listing of $PAID and what exciting news do you have for investors who are looking to invest in a brand new project that has it all!?
The listing details have not been announced as of yet, please follow our Telegram Channels and Social media to stay up to date :).
We have lots of exciting updates lined up for the community, e.g. The PAID Network has over half a dozen new technology features coming soon. In initial test drives, users are excited about our new all-in-one Dashboard designed to enhance the user experience. When users login, they can view all their activity in the system including user agreements, the wallet balance, and token price, to list a few.
We are moving beyond providing an attorney-free and cost-friendly DApp to help businesses and individuals ensure they #GetPAID by continually adding new business services and communication tools.
More exciting all-inclusive business toolkit features are on the horizon, including:
Borrowing and lending
Reputation score — biometrics
Activity — calendar
Fine tuning UX
PAID is one of the most exciting new projects for sure and we love how you, have kept the raise small, public sale was $500 per person and the initial market cap is listing at 850k, we will be following $PAID closely thats for sure! Thanks for coming today its been a pleasure to host you guys!