๐Ÿš€
Plasma F.A.Q.

Tokens

When was the public sale?

There was no presale and public sale. The private rounds were for strategic investors only. You can check the available markets on Coingecko (https://www.coingecko.com/en/coins/plasma-finance) or Coinmarketcap (https://coinmarketcap.com/currencies/plasma-finance).

Where can I find the tokenomics?

What is the total supply?

The total max supply for PPAY is 1B. You can self-verify this and other details by looking up the issuing contract (0x054d64b73d3d8a21af3d764efd76bcaa774f3bb2) on an Ethereum block explorer like Etherscan: https://etherscan.io/token/0x054d64b73d3d8a21af3d764efd76bcaa774f3bb2โ€‹

What is the initial circulation & market cap?

The initial circulation for PPAY was 55,750,000 tokens or 5.5% of the total supply. The initial market cap was $1.115M (based on the price of Private Round 2 - 0.02$). For further information, please read: https://medium.com/plasmapay/ppay-token-distribution-and-metrics-567d9d040f5b#feecโ€‹

Whatโ€™s the actual circulating supply and why is it not updated in Coinmarketcap?

Coinmarketcap relies on data sources being fed to it, and currently, this is mainly from centralized exchanges. PPAY is being traded mainly on DEXs right now, including on our native PlasmaSwap, which means that a lot of the data isnโ€™t visible to centralized data feeds. To get an accurate and objective view of circulating supply, you can access the PlasmaFinance app, look at the PPAY button on the upper right, and find the updated circulating supply.

What is the use of $PPAY?

PPAY is the utility token for PlasmaPay and PlasmaFinance that combines rewarding, staking, and governance functions within the PlasmaFinance DeFi service network. The PPAY token will be used as a bridge between Ethereum and Plasma DLT blockchain for zero-fee trading and DeFi Dapps.

How much did you raise already?

The total fundraising was finalized at $3.5M.

If we provide liquidity for PPAY are we paid in ETH or PPAY?

Just like in any liquidity pool participation, you have to provide liquidity in pairs. So if you are providing liquidity for PPAY/ETH, then you will earn the proportion of fees in PPAY and ETH when you redeem your pool tokens.

Staking

Where do staking rewards come from?

Staking rewards will be provided from a commission fee taken from the use of the PlasmaFinance platform and all its services. Currently, the staking program is fully connected to PlasmaSwap so rewards will come only from trading fees on PlasmaSwap, which is also shared with liquidity providers. Only about 0.02% of trading volume currently goes to PPAY stakers.

How much can we earn from staking?

As staking rewards come from fees and commissions generated from the use of PlasmaFinance products like HyperLoop contracts and PlasmaSwap, the more people use these services, the more revenue is generated for stakers. Itโ€™s not possible to predict the exact amounts without knowing the activity in any given timeframe.

Can we take only the profit?

Of course! When you redeem your PPAY stake, you are always going to get back your initial PPAY deposited, including any profits accumulated during the staking period.

What is the minimum staking period?

The minimum staking period is 24 hours. You may not unstake PPAY before this duration.

Can I un-stake a partial amount?

Yes. The amount you unstake is proportional to the amount of xPPAY you redeem.

And how often is the payout?

Because the rewards are still relatively small now, only the biggest stakers should see any significant rewards. Rewards will be distributed weekly initially, and progress to daily frequency when there is enough trading volume.

Team

Who is the founder of this project?

Ilia Maksimenka (https://www.linkedin.com/in/maksimenka/)

Where can I find the rest of the team?

Due to the security policy of our regulated financial entity, a major part of our dev team is not public-facing, however, the CEO @ilia_mk is always happy to answer questions.

Platform

What is the official website?

The official website for PlasmaPay is: https://plasmapay.com/โ€‹
For our DeFi aggregator PlasmaFinance, visit: https://plasma.financeโ€‹
Beware of fake sites!

Where is your mobile app?

Our mobile apps do not yet have the capacity to include all of our massive range of features, so we encourage our users to access the web version of PlasmaPay and PlasmaFinance to access the most powerful features.
We are working on bringing up the mobile app to speed and will announce it on our blog when this happens!

Why does the team say PlasmaPay is doing Defi when in fact I have to register to use the platform?

All DeFi services that we are building launched in Q4 2020 as PlasmaFinance and this platform is fully available to use with any Web3.0 wallet, without the need to register. Should you require using a fiat on/off ramp to buy or sell crypto with a card or bank account, then you will be asked to register with our PlasmaPay payment processor, which holds the crypto license with compliance requirements including user registration and due diligence.

What other DApps are being built on your plasma solution?

There are several DApps that weโ€™re working on and we believe them to be killer DApps. Weโ€™ll be sure to announce them when theyโ€™re ready.

When you say they are building on plasma, does that mean your version of Plasma?

What weโ€™re referring to here is our very own PlasmaDLT, which is a first-layer blockchain protocol, just as Ethereum or EOS or BSC is. So those building natively on Plasma will be using PlasmaDLT infrastructure, which is designed specifically to handle scalability and security concerns for DeFi use cases.

But aren't there lots of versions? Omise Go has their own, Leverj has Gluon, there's Plasma Cash, etc.?

These that you mention are second-layer networks that build atop existing first-layer protocols, usually to solve existing network scalability issues. We also have Hyperloop, for example, which is a second-layer solution for the Ethereum first-layer protocol. Our PlasmaDLT will be a first layer one that is designed specifically with our long-term goal in mind, which is to address scalability and security concerns for DeFi use cases.

Is Plasma your own chain and separate from the L2 Plasma solution?

Yes, that's our own chain, a unique and separate first-layer blockchain protocol.

Since the launch of Woocommerce checkout plugin how many businesses have you signed up for or whatโ€™s the volume of transactions so far?

Pretty much, most of our corporate clients use a direct integration with API. WooCom plugin was built mostly for small e-commerce stores on WordPress that want to accept payments from the Plasma wallet.
โ€‹
โ€‹
โ€‹
Last modified 6d ago