Image source: https://twitter.com/kupayfinance
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What is KuPay?
KuPay is developing a Smart Contract Payment System that offers merchants financial freedom and allows them to receive payments in a growing number of blockchains, including KuCoin Community Chain (KCC) and Binance Smart Chain (BSC) tokens.
The Vision of KuPay
The vision statement of KuPay as given in the light paper is:
“We believe that using blockchain technology and transitioning to web3 by consumers and businesses to store value, process payments, and manage loans and its collateral is key to becoming financially free.”
The Mission of KuPay
The mission statement of KuPay as outlined in the light paper is:
“KuPay will facilitate the technical framework to store and manage assets on all popular smart contract platforms and will make it available to anyone that has access to the internet, making the step from traditional banking or cash money management to blockchain as small as possible.”
The Strategy of KuPay
The strategy of KuPay as outlined in the light paper is:
“Deliver high quality, easy-to-use applications for all kinds of financial transactions at one virtual location, making the step from traditional finance to our blockchain-based ecosystem as small as possible.”
The dApp created by KuPay empowers users by granting them the following capabilities:
Convenient access to owned assets from anywhere, at any time.
Seamless execution of transactions regardless of location or time.
Opportunities to earn interest on surplus assets.
Efficient management of loans and collaterals through blockchain-based smart contracts.
The Products offered by KuPay
KuPay Payments
It is a convenient-decentralized application (dApp) designed for the effortless sending and receiving of payment requests/payments.
KuPay Donations
It is a payment solution built on Blockchain technology specifically tailored for charities and influencers. This product incorporates a donation link within a button on a website or social media post.
KuPay Checkout
Using this feature, consumers can pay for their ordered goods via WooCommerce and Shopify plugins.
KuPay Learning
New users can learn the fundamentals of blockchain technology and KuPay dApp, and earn rewards for every finished course.
OrkSwap
It is a decentralized exchange within the KuPay ecosystem where users can convert one currency to another effortlessly.
KuPay Token (KPY)
KPY serves as the native token within the KuPay Ecosystem, with a maximum supply of 500,000,000. Its utility includes the following:
Staking KPY on the KuPay decentralized bank account allows users to receive transaction discounts.
Staking KPY on the KuPay decentralized bank account grants users access to free payment requests.
The token can also be utilized for crypto-farming purposes.
Author: Sukanta Manna
Editor: Markus Hinrichs
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