A Year of PAID Network — Part II

February 1, 2022

Our main goal is to redefine the current business contract, litigation, and settlement process. We are working towards realizing our goal by making deliberate, calculated steps. As we approach our first anniversary, we’re taking some time to reflect on our achievements and lessons. We’ve been under different scenarios in less than twelve months, some encouraging, some challenging, but we’re proud to have made it this far.

In our previous article, we reminisced on events such as,

  • Building on Polkadot/running a dual ecosystem
  • Ignition IDO launch
  • MV FUEL launch with Master Ventures
  • Binance support
  • Community support

Let us pick up from where we left off. Here are other defining experiences from the previous year.

Binance Bridge

One of our targets for the previous year was to bring in additional blockchains to our ecosystem. As a result, we’d provide interoperability on our DApp and host IDOs for projects developing on other blockchains. We are proud to announce our achievement as we finalized our Ethereum to Binance Smart Chain bridge last year.

Now, $PAID holders move their tokens between the Ethereum and Binance Smart Chain blockchains as they desire. Binance Smart Chain has low transaction fees and a fast block production rate compared to Ethereum thus, improving user experience. Additionally, the PAID Network Bridge is pivotal in bringing cross-chain projects to Ignition.

PAID Reputation Lottery

The reputation system recognizes the efforts of our PAID Network community and provides users with an opportunity to win prizes — starting with 1x Galaxy Golden Ticket! Users can earn reputation points and climb the ranks by contributing to the community in various ways. The overall arching aim is to democratize access to the reputation system, so that trusted users can dish out reputation to deserving members, helping to strengthen our already close-knit community further.

Apollo-X Launch

Following the success of our inceptive Ignition IDO platform, a second launch platform to appeal to more users became necessary. Apollo-X adds value to the PAID Network community by complementing Ignition and widening the service offering of Master Ventures’ ecosystem.

Our push for Apollo-X was fuelled by a need to accelerate the development of vetted projects while giving our community early access to revolutionary projects. The entry of Apollo-X created stability in our ecosystem. Apollo-X loosened some restrictions, such as the 1000 $PAID requirement, to encourage participation while maintaining similar rules to Ignition.

We’re confident of Apollo-X as an industry accelerator. The platform targets novel projects unlikely to gain mainstream attraction, and its performance this past year is encouraging. We expect more participation in Apollo-X by select community members, given its niche allure.

BSC Integration

Our successful BSC integration allows us to exploit the platform. These exploits give us the following advantages.

  • Providing our Business DApp and Ignition launchpad access to a large community.
  • It enables users of our new Apollo-x launchpad staking opportunities on BSC.
  • Lastly, it gives $PAID token holders the option to move tokens from ETH to BSC.

Our BSC integration adds to effectiveness and efficiency. Community members enjoy opportunities on BSC, while project creators gain access to larger audiences.

Avalanche Integration

Avalanche received much attention from blockchain platforms due to its unique proof-of-stake functionality. Many view Avalanche as a leading next-generation network, and owing to these expectations, PAID secured an integration with Avalanche.

Avalanche is a layer one blockchain serving as a platform for DApps and custom blockchain networks. Integrating Avalanche onto PAID Network allowed us to expand our activities into the AVAX ecosystem and give Tier 1 projects within it a chance to launch on Ignition and Apollo-X.

Partnerships

We were also privileged to partner with Lossless, Hacken, Metis, Genesis Shards, PARSIQ, and AllianceBlock. These platforms trusted us with their system by giving us access, and we reciprocated the trust by helping them grow. Their confidence in our services creates a ripple effect as more platforms request our services. We expect to enter more partnerships this year.

PAID DApp V2

PAID Enterprise DApp has made significant strides. Our team has spent major resources in finalizing the last details of the DApp to ensure optimal quality. The attention to detail includes seeking advice from some of the best global legal professionals worldwide.

We initiated the PAID DApp Beta Program in October 2021 in which we invited some of our more intrepid community members an opportunity to test a near-final build of the DApp. All in the intention of creating an intuitive, polished, and most of all, powerful product of what we believe to become a truly powerful tool for securely signing and managing business agreements from anywhere in the world.

What a Year We’ve Enjoyed

And we’re only getting started.

It has been a long journey since our first anniversary. Thanks to our supportive community and investors, we have enjoyed significant progress. Both Ignition and MV FUEL were successful in their first year, and Apollo-X also registered an inspiring performance in its first year. Your encouragement and trust in our vision have helped us accomplish our targets. We are working towards achieving every goal on our roadmap.

We are delighted with our achievements so far, and our platform is also grateful that we remain an attractive outfit amongst investors and projects. Our appeal is in building a decentralized system eliminating complex and expensive legal agreements for crypto projects using smart contracts. We hope to enter another year as an appealing platform to more of you.

Here’s a toast to the future!

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