Are you offering a guaranteed rate of return to investors?
Hey @lehuyaxib1 nice to see you join us too! We do appreciate our investors but we can't guarantee their rate for quite obvious reasons. btw you can already buy our coins on our website paydaycoin.io  |
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Hi! Tell me about the limits. Does it have a limit size? I dont understand information in WP
Each KYC and Auditor MasterNode freezes its stake as a part of loan security. The size of
the stake and the reputation of the node determine the number of loans that can be pending
at the same time.
Explain me, please
The loan limit and the stake will depend on the credit score of the borrower. That's pretty simple: the loan limit will be as high and required stake from KYC and Auditor masternodes low as the credit score be good. All loaners indicate what credit score they work with. The higher score you have the more potential loaners you get. |
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Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?
Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way: 1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes) 2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake 3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network. |
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The project looks interesting. If a few questions clarify me a little, I will gladly join. Do I understand you correctly that you will provide banking services using Blockchain?
Hi capricorn121, thanks for your questions! Let me clear it up for you. We're creating the system that provides services similar to banking ones, but based on other principles: the profit from the loan doesn't go to the bank, but is distributed between the end user who issued the loan/ part of the loan, the KYC partner who verified the identity of the borrower and the Insurance blockchain which insured this transaction. Do you have more questions to ask? I'll be happy to answer them all How will the identity of the borrower be checked? Who will be the KYC partner? That's a good question. The identity of the borrower will be checked according to the common rules of going through KYC. did i correctly understand? all participants will have to do the procedure of KYC. And also specify, now KYC at what stage of implementation? You can become not only a PoS masternode, but also a KYC masternode. PoS masternode benefits from keeping money on the account. KYC masternode does the procedure of KYC for borrowers and gets interest from all loans issued to that borrower. Like in a simple example, KYC masternode can do KYC not by themselves but to function as a gateway between PayDayCoin and for example Civic.com |
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You wrote In white paper that every participant of the system will have PayDay Card. How will this card be issued?
Hi @sheloa and welcome to our thread. We are going to be partners with several banks issuing such Cards that will be used in ATMs all over the world. By the way what banks your credit cards belong to? You can give more detailed information about the banks. And what type of cards will be supported? Of course we could say somethin like "We're negotiating with the major Swiss banks like CoinSuisse bank and BankOfBitcoin now"  , but while we're actually negotiating: 1. There's NDA 2. Any ann of our dead cool plans without prior mutual confirmation is a scam coins' lot. That's why we'll be more specific when we're totally sure of the outcome, and the NDA lets us reveal that. btw what banks are the most popular in your location? |
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I joined the chat in telegram, but so far I haven`t seen any useful information it Hey @Kerandias stay tuned as we gonna post lots of useful info there soon. Meanwhile you can ask any questions and keep in touch with us here. Have you tried our wallet already? All ok with that? |
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Have you conducted any marketing research? Will your project be in demand?
Yes we have. Bank loans are in high demand now all over the world, and each country has their own interest rates. Why not erase the geographical boundaries between countries and issue loans at the best interest for both loan sides? btw do you have any bank loans? |
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Wow! That's a progress! The token was listed before the ICO! COOL!!
C'mon We haven't listed on any exchanges yet. Only masternodes listings |
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I think it is important that the alcohol producers cooperate with the platform. Who will be the first?
merculet
Why that alcohol producers cooperate? be able to supply alcohol to all participants in the platform?  What are you talking about |
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Apparently, the current coin market is full of shitcoins and scamcoins, majority of which is poorly developed and packed with bugs. Their networks are unstable and do wrong when it comes to fundamental security and infrastructure flaws. Looking scammy has never been easier, especially if you release buggy code. We don't want that for PayDay Coin since we tend to have quite ambitious plans. We had started running a network and found some bugs. As a consequence, it was shut down temporarily in order to get those bugs fixed. Now our network stays solid, polished and ready to use. We started network 10 minutes before bitcoin mooning on April 12th. Now PayDayCoin is happy to welcome all friends, foes, aliens, allies and cryptolovers.
I've read all the thread...Thanks for such an update. team, great job!! So what bugs did you fixed?? Some of them are related to blockchain infrastructure and PoS balancing. some are related to building and installation process, to make adopter's life easier. You may check our diffs at github https://github.com/PayDayCoinIo/PayDayCoin/commits/master |
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I would like to know more about the project. It looks beautiful, but there are many common concepts. We need more details!
You're right! More and more similar projects are growing. How will we be identified among all this? I really want to see how you differ from the same projects? Hey @Kerandias that's a good question. So, our difference and uniqueness lies in the fact that we are not trying to overstretch ourselves, but to focus on solving a specific problem in partnership with other blockchains (KYC and Insurance blockchains). All similar projects were just trying to take these functions on themselves. Did I manage to answer your question? You Quite answered. I'm sorry that your telegram chat is not very informative. Will you have any activities to attract investors? Our Telegram will soon have more info and announcements, stay tuned! As for investors, we're quite ready and open for them. Now everyone can join and buy PDX on our website paydaycoin.io. Soon we're planning to enter stock exchange. Which of them would you prefer to buy our coins on? |
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Hello! The project is very promising, but what your differences from the competitors? And who are they?
I heard about cryptolending and ethlend, but I don't think they offer the same possibilities as this project, do they? Had no idea about them. And actually I can't google their websites. Maybe the team will say smth? Guys, PayDay Coin is a first P2P loans proof-of-stake blockchain platform to set up cross-boarder loans and adjust the high interest rates for those who are in need. We're unique and don't know any other existing project that could compete with us, do you? |
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Very good concept. Best of luck to entire team
Thanks Eliza beth, you can already buy Payday Coins on our website paydaycoin.io, have you seen yet? |
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Hi! Is the airdrop still going? Hi @maryvil how are you? Yes, the airdrop is still going and bounty campaign is coming very soon! Have you joined already? |
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Oh, thanks. I found this thread but didn't understand rules. Will I get tokens just after I sign up? Or I will have to wait? Thanks @Ofcifreak for giving our airdrop link. Hey @new_conquistador17 how are you? Yes, we've recently launched our first airdrop. According to the conditions of Airdrop #1 tokens are being distributed during 4 weeks after the Airdrop is closed. By the way, are you guys in? |
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I would like to know more about the project. It looks beautiful, but there are many common concepts. We need more details!
Hi @Ofcifreak, thanks for your interest! Please specify what exactly you'd like to know besides the info on our website paydaycoin.io? I would like to read somewhere else about the project. Perhaps some kind of review. Do you have this? Good idea about review. Maybe you have planned an online conference with the team? That sounds like a good idea really. We'll think about what we can do and will keep you updated in this thread. |
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The project looks interesting. If a few questions clarify me a little, I will gladly join. Do I understand you correctly that you will provide banking services using Blockchain?
Hi capricorn121, thanks for your questions! Let me clear it up for you. We're creating the system that provides services similar to banking ones, but based on other principles: the profit from the loan doesn't go to the bank, but is distributed between the end user who issued the loan/ part of the loan, the KYC partner who verified the identity of the borrower and the Insurance blockchain which insured this transaction. Do you have more questions to ask? I'll be happy to answer them all How will the identity of the borrower be checked? Who will be the KYC partner? That's a good question. The identity of the borrower will be checked according to the common rules of going through KYC. |
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