Riga City, Latvia -- (SBWire) -- 10/22/2020 --Passport Finance aims to enhance user usability and provide a higher level of efficiency to the users. Although the existing DeFi platforms proffer a wide array of benefits, Passport Finance aims to surpass them and deliver a whole new payment ecosystem that is agile, extensible, scalable, and simple.
The attributes of scalability and simplicity are derived from Vitae, a Paparazzi blockchain platform. Moreover, the characteristics of extensibility and agility are derived from the tendermint framework. The combination of these technologies, combined with the nativity of DeFi, makes Passport Finance an innovative step towards the future of crypto and decentralized finance.
Passport Finance aims to solve the existing problems faced by the community and speed up the mass adoption of DeFi. Plus, with systems like rewards distribution, payment security, and low transaction fees, the users stand to gain from the overall impact of a new-age and innovative finance ecosystem.
Multiple Solutions with one System
Starting with the Passport wallet, the users can save multiple cryptocurrencies in one wallet with high security. Plus, the same wallet allows swapping or exchanging between two cryptocurrencies instantly at the lowest possible fee. Among the multi-tier rewards systems, one of these systems is implemented on the wallet, whereby the users can collect brand-specific rewards in the same wallet.
Passport Finance is home to several smart features, including the cross-border payment system, which is native to every DeFi system. However, with Vitae's blockchain, Passport Finance's system has taken out the issues of higher fees and slower response time.
Here the payments are fast and cost less. Another string of benefits comes from the ability to seamlessly convert the crypto coins to fiat currency anywhere across the world. This implies that when fully functional, any user will only need to have the passport finance wallet and can travel anywhere across the globe.
Down the line, Passport Finance will unveil the PASS tokens to augment the core motive of building a truly community-driven platform. The users on the platform will be allowed to make decisions and establish complete anonymity from the development team. So, every decision will be user-based that will ultimately help improve and build the future workings of the platform.
The PASS tokens will become a primary medium to realize the concept of true governance on the platform.
First Public Sale and Private Round
Initially, the first public sale to generate 1500 ETH and sell 15,000,000 $PASS tokens was to be held on the Bounce Finance platform. But later, the platform of this sale was changed to Zoomprotocol.com, and it saw the participation of more than 500 supporters of the platform, recording a trade volume of $859,778.
In the private sale, Passport Finance was able to raise 1200 ETH and the public sale got the platform proceeds of 1500 ETH. The private sale proceeds will be divided and 50% of the sales will be locked for 30 days and the public sale proceeds will undergo 100% listing.
Incubation by the Paparazzi Team
To support the business model and community-driven approach of Passport Finance, the Paparazzi team decided to provide assistance and support to the platform. Along with getting infrastructure and networking assistance from the Paparazzi, Passport Finance is also building a structure to support lower transaction fees for the benefit of the PAZZI tokens.
Future-Ready Systems Ready to be Implemented
In due time, the users engaging with Passport Finance will be able to stake, govern, pay, and exchange on a single platform. There are multiple use cases of the PASS token, and they can also be locked to earn dividends.
With the help of PAZZI and Ethereum blockchain, smart contracts are mined. More the number of PAZZI tokens deposited via the contract better will be the generation of the PASS tokens from the platform.
Multiple Rewards Generation with Passport Finance
The users, merchants, and store owners can leverage Passport Finance's multi-utility system to proffer rewards to the users. The rewards provided can be managed and executed via the platform, removing the need for a paper transaction.
Furthermore, it will be easier for bigger enterprises to deliver blockchain-based rewards to users from dedicated dashboards. Lastly, global vendors and international franchises can also use the platform to provide region-specific rewards.
To Sum it Up
Passport Finance has a wide gamut of use cases and services offering smart and innovative work systems. One of its strongest suits is the wallet system that combines the smart features and future-ready solutions that can be turned into an all-in-one payment and exchange platform with a global appeal.
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