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Project Watch: This Week’s Look At The Projects Building A Decentralized World

PAID is part of a huge crypto ecosystem full of projects that are applying blockchain in revolutionary ways. Here’s a look at some of the projects we believe are going to be part of the decentralized world of tomorrow. 

BlockBank

BBANK

With the huge increase in DeFi users over the last year it has become more important to provide a clean UI capable of delivering access to many different DeFi protocols. Blockbank is a comprehensive intelligent adviser that allows its users to access DeFi DApps, tools and protocol to generate yield without high fees. It also makes transfer of funds easy by providing cross chain swaps and fiat on/off ramps. The Blockbank robo-advisor monitors and provides data based on investment preferences to maximize gains and minimize losses. It also employs a state-of-the-art technological solution to deliver a multi-purpose platform creating a digital banking experience that bridges the gap between CeFi and DeFi. 

The BlockBank $BBANK native token, which allows users to boost their APY from 10% to 30% was launched in both a public and private IDO on IGNITION. The token also allows users to gain access to credit card rewards programs and earn interest by staking their tokens.

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Lossless

Another issue in DeFi is the presence of fraud. This has been a serious problem in the past and still remains a barrier to mass adoption. However, Lossless is providing a solution as the first DeFi hack mitigation tool for token creators. Lossless Protocol freezes fraudulent transactions based on a set of fraud identification parameters and then returns stolen funds back to the owner’s account. By inserting the Lossless code into their own protocol, token creators can mitigate the losses from exploits and hacks. Hack-spotting bots will detect and freeze fraudulent transactions, securing rewards for the bot creator. Meanwhile, a Lossless committee will overview frozen transactions and can freeze the receipt address permanently and then enact a proposal for transaction reversal.

The native $LSS token can be deployed by hack finders as a stake to verify that they feel a hack has taken place. It also serves as the government’s token for Lossless’s ecosystem and was launched in an IDO on IGNITION at the end of May.

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LGCY Network

LGCY

One thing that has plagued crypto this last year, in particular the Ethereum Chain, is slow transaction speeds and high transaction fees. LGCY Network’s mainnet Supernova aims to solve this problem by handling 10,000 transactions per second at an average cost of $0.01 per transaction. LGCY Network utilizes a Delegated-Proof-of-Stake model that runs on the Libertas protocol. LGCY Network aims to be the most decentralized DApp blockchain in the world. The Libertas protocol splits the Governing Bodies of the chain into three separate parts and then limits the power of each. It then introduces terms to the government system to ensure that no single token holder will be able to gain an unbalanced amount of power.

PAID Network has recently secured a partnership with the LGCY Network. We’re particularly excited about LGCY’s generous developer fund that will be used to find twenty-four different projects on the network over a two year period. This will help kick start the LGCY Network and build its DAapp and DeFi infrastructure.

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Parsiq

Blockchains generate huge amounts of data. Because this date is disconnected from the rest of the world, processing it and connecting it to centralized apps can be time consuming and cumbersome. Parsiq is a protocol designed to make monitoring on-chain data easier while also using that date to create automated workflows for off-chain apps. Parsiq can be utilized to push on-chain data to web services and applications that can then trigger off-chain actions through smart triggers. Smart triggers are compatible with most blockchains including Bitcoin, Ethereum,  Dash, Solano and the Binance Smart Chain. Smart triggers are adjustable and users will define what they want to track, where they want the data to export to, and use this information to automate their workflow. 

During the launch of PAID V2, PAID worked closely with Parsiq, calling on their expertise to plan and execute the launch. The data mining capabilities and support was invaluable and it’s for this reason that we are delighted to have sealed a partnership with them.

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Citadel.one

Citadel.one is a user-friendly non-custodial platform designed to help you get more from your staking. Citaldel.one allows you to stake, send and exchange crypto assets, allowing you to join the world of DeFi. The Citadel.one staking platform has multi-asset support and allows its users to stake on any validator of their choice. Citadel.one also provides an analytical dashboard that allows users to access all the relevant information about their assets for effortless monitoring and analysis in one place. The Citadel.one mobile app is an all-in-one platform for the management and staking of crypto assets. Users can even choose to stay on top of their portfolio performance with network updates through push notifications. 

With the Citadel.one DAO users can claim XCT tokens that will allow them to take part in decision making. Users can also take part in node-ownership and profit share in the decentralized Citadel.one ecosystem.  

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About PAID

PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.

PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts to execute DeFi transactions and business agreements seamlessly.

PAID streamlines backend legal operations with SMART Agreements, so that projects can focus on making their brand bigger and better.

For any questions for the PAID network, please feel free to reach out to us on