Project Watch: This Week’s Look At The Projects Building A Decentralized World
Here at PAID we are committed to the goal of building a decentralized world. It is the philosophy that drives the crypto world both inside the PAID ecosystem and beyond. Here is a look at some of the projects that are helping to push the adoption of blockchain forward.
Mantra DAO
Despite the huge advances in DeFi over the last year, there are still many elements of it that remain to be truly realized. One of which is decentralized governance. Mantra DAO leverages the wisdom of the crowd, creating a community that’s decentrally governed and transparent. Mantra DAO is a genuinely decentralized ecosystem, serving the true philosophy of web 3.0. Mantra features a karma system similar to a traditional credit score that rewards users for positive contributions to the ecosystem. Holders of the native OM token have full control and ownership of the DAO with a series of systemic voting and governance rights. Ultimately, Mantra will be a platform that allows staking, lending, and borrowing facilitated by a genuinely decentralized ecosystem.
PAID Network is already partnered with Mantra DAO, which has facilitated the introduction of our PAID v2 tokens as a suppliable asset on ZENTEREST, its money markets lending platform. Mantra DAO will also utilize PAID Smart Agreements to streamline the formation of future business arrangements and transactions.
Evolution Finance
Another issue that has hampered the development of DeFi is that the abundance of different tokens has necessitated the existence of centralized exchanges. At the moment by far the largest DeFi ecosystem is the Ethereum ecosystem. However, many major assets are simply not available on Ethereum. With the exception of Bitcoin, alternative blockchain assets are primarily available on CEXes. Evolution Finance fills the gap. By allowing collateralization, borrowing, and lending of the top 50 crypto assets, Evolution allows $DOT, $FIL, $AVAX, $DASH, $XMR, $XEM and $DOGE to become fully available on Ethereum.
Evolution Finances lending services have already been integrated into PAID’s IDO platform, Ignition. This has allowed users to collateralize their own tokens and borrow against them to participate in upcoming IDO sales. Participants in Ignition IDOs will no longer need to sell their assets and can instead deposit accepted assets on Evolution through the website.
VAIOT
VAIOT is a suite of blockchain-based AI protocols that will serve businesses and consumers to provide automated services and transactions. By utilizing both smart contracts and AI, VAIOT’s legal assistant can create contracts that can be both printed into text and digitized to exist on the blockchain. Using this tool is as simple as speaking into the app and answering a few questions that the AI will pose. These answers will provide the details for the app to formulate a contract specifically for the user. In addition to this, VAIOT also provides an AI sales assistant and an AI insurance broker and aggregator.
VAIOT is a genuinely revolutionary product with cutting-edge tech supported by blockchain innovation. PAID Network has a strategic decentralized law alliance with VAIOT. This partnership will redefine legacy law systems and redefine how people do business with one another.
E-Money
Stablecoins have become a crucial part of decentralized finance. With the volatility that most crypto assets are subject to, it is oftentimes very important to be able to convert capital into a more stable asset. The existence of stablecoins allows investors to do this without moving their money off chain. However, the dollar is currently the only currency that has widespread use on the blockchain. E-Money is looking to change all that by providing the next generation of stable coins. Starting with the major European currencies, E-Money will proceed to roll out to the US Dollar, Japanese Yen, and then the rest of the world. E-Money tokens are fully collateralized in the form of deposits and government bonds held in commercial banks. In addition to this, similar to a savings in a bank account, E-Money tokens will bear interest that will automatically be applied without the need to lock up funds.
E-Money is yet another partner of the PAID Network. This partnership will bring awareness to one another, our communities and our respective projects. Ultimately, we will work towards the shared goal of delivering decentrally governed financial services to the masses.
Bright Union
Bright Union is a DeFi cover platform that will protect your DeFi capital against hacks and smart contract failures. As an insurance aggregator, Bright will make taking out and investing in risk cover a standard practice among crypto users and firms. Bright Union will collect different decentralized insurance platforms such as Nexus Mutual and Bridge Mutual and make them accessible through a single user interface. This allows users to easily search for the insurance product that best suits their needs, depending on what events they are looking to insure themselves against. Bright Union will also cater to risk buyers who can search for risk products to invest in in the same way through the Bright Risk Index (BRI)
Master Ventures is a proud investor in Bright Union because of the belief that for decentralized finance to become a viable alternative to traditional finance it needs to be accessible, desirable, and safe.
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
- Website: PAIDNetwork.com
- Telegram: @PaidNetwork
- Twitter: @PAID_Network
- Medium: @PAIDNetwork
