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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. Yes, I've already joined them, thanks! That's an interesting. But where are this insurance money come from? Who pays them? @bpcguy, that's quite easy, e.g.: the borrower comes up. KYC masternode checked their ID. Auditor checked their docs for credit purpose. After that KYC and Auditor have to kinda vouch for them. KYC masternode freezes a part of their stake as a guarantee, that the ID is checked well. So do the auditors (more than one) - freeze their parts. If money is not returned, these frozen stakes go to loaners (wallets owners issuing the loan). If money is returned, than these parts are not frozen anymore and can be used for further work. And all participants get their interest. The network will adjust the insurance deposit by inself. In case of 10% of non-returns the system will require 10%+ interest rate of all insurance deposit. E.g.: 2% money from KYC, 8% money from 4 Auditor - so 2% from everyone. However, according to BRAC report ( http://www.brac.net/sites/default/files/BRAC-at-a-glance-december-2012.pdf , page 3 ) and Muhammad Yunus experience repayment rate is 98.76% I don`t quite understand what is the benefit for us now in acquiring your tokens? Will we have any special conditions on the platform afterwards? The benefit is profit, we are all here by way of profit Which way can we get any profit?? I can't afford to buy a node, but I want to start mining. You can try the airdrop and bounty. They'll give you free tokens! |
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any aiirdrop now?
I want to take part in the Airdrop too! Please, admin, start a new one! |
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Any updates, admin? I tried to reach the telegram chat, but it seems there is some problems for all the european users, and it doesn't work  That's a main reason why all of us should use decentralized systems on blockchain We should create a decentralized telegram! Or maybe the payday team willl take that as idea for another project! I think they should concentrate on improving their product - decentralased loan mechanism which is cool too I totally agree with that! This idea is amaziing! I haven't seen anything like that earlier. Hmm, I'm sure they have some competitors. If the market is empty, nobody wants this kind of services |
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Any updates, admin? I tried to reach the telegram chat, but it seems there is some problems for all the european users, and it doesn't work That's a main reason why all of us should use decentralized systems on blockchain We should create a decentralized telegram! Or maybe the payday team willl take that as idea for another project! I think they should concentrate on improving their product - decentralased loan mechanism which is cool too |
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scam com again very sad news
At least thanks for upping our thread. Though with such words. Anyway, we'll appreciate if you give something more detailed but than empty statements! He just want to increase his posts counter  You're making the same Yes, probably. Well, at least I'm interested in thread. And not just without reason screaming "scam, scam" Now everyone screams scam, on any project. you do nothing about it. There are competitors so work It isn`t necessarily the competitors work or something like that. It just became too much the ICO, and really failed projects. This is a normal reaction to all failures The ICO theme became popular, that's all began to look for ways to earn easy money. I agree with you all members who see new projects immediately say 'a scam', that's why. Even don`t try to understand the topic In my opinion, a good marketing team should work to fight the screams scam. I also had doubts when I first studied this project What helped to kill your doubts?  It's funny to you? I like the work of the support team now. They are always polite and answer all questions Sorry, I'm really interested to know your opinion. Support teams are everywhere good. It's their job. I still don`t have more information on social networks, and I would like to know the composition of the project team. |
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scam com again very sad news
At least thanks for upping our thread. Though with such words. Anyway, we'll appreciate if you give something more detailed but than empty statements! He just want to increase his posts counter You're making the same Yes, probably. Well, at least I'm interested in thread. And not just without reason screaming "scam, scam" Now everyone screams scam, on any project. you do nothing about it. There are competitors so work It isn`t necessarily the competitors work or something like that. It just became too much the ICO, and really failed projects. This is a normal reaction to all failures The ICO theme became popular, that's all began to look for ways to earn easy money. I agree with you all members who see new projects immediately say 'a scam', that's why. Even don`t try to understand the topic In my opinion, a good marketing team should work to fight the screams scam. I also had doubts when I first studied this project What helped to kill your doubts? |
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scam com again very sad news
At least thanks for upping our thread. Though with such words. Anyway, we'll appreciate if you give something more detailed but than empty statements! He just want to increase his posts counter You're making the same Yes, probably. Well, at least I'm interested in thread. And not just without reason screaming "scam, scam" Now everyone screams scam, on any project. you do nothing about it. There are competitors so work It isn`t necessarily the competitors work or something like that. It just became too much the ICO, and really failed projects. This is a normal reaction to all failures The ICO theme became popular, that's all began to look for ways to earn easy money. I agree with you |
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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? Thanks for the answer. Yes, you are right to give verified information. We have a popular bank Ceska sporitelna A.S. Great @sheloa we'll surely consider it too. Europe is a big loans market full of people ready to issue loans to those who need them for a reasonable rate. Hope so. It would be great. Then you will have even more potential investors I would like to have the card from one of this banks! Hope they'll provide them soon! Why do the participants of the system need this cards? It's a strange question, actually  Why do you need your debit card? To spend money! And here youll be able to spend your CRYPTOmoney! I meant: will it be my "profit money" or I just can deposit my cryptomoney from other wallets and use card for withdrawing them? I think it has to be only your PDX money. You can find more info in the WP or ask admins here.. Unfortunately, I did not find this information in wp. Apparently it is worth waiting for an answer from the admins |
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You have KYC requirements under masternodes, yet you are not disclosing your team members? How can you gain trust especially you are dealing also with lending platforms that everyone else wants to venture with. That's a great question! Maybe team will be disclosed soon? |
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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? Thanks for the answer. Yes, you are right to give verified information. We have a popular bank Ceska sporitelna A.S. Great @sheloa we'll surely consider it too. Europe is a big loans market full of people ready to issue loans to those who need them for a reasonable rate. Hope so. It would be great. Then you will have even more potential investors I would like to have the card from one of this banks! Hope they'll provide them soon! Why do the participants of the system need this cards? It's a strange question, actually Why do you need your debit card? To spend money! And here youll be able to spend your CRYPTOmoney! I meant: will it be my "profit money" or I just can deposit my cryptomoney from other wallets and use card for withdrawing them? |
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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? Thanks for the answer. Yes, you are right to give verified information. We have a popular bank Ceska sporitelna A.S. Great @sheloa we'll surely consider it too. Europe is a big loans market full of people ready to issue loans to those who need them for a reasonable rate. Hope so. It would be great. Then you will have even more potential investors I would like to have the card from one of this banks! Hope they'll provide them soon! Why do the participants of the system need this cards? |
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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. Yes, I've already joined them, thanks! That's an interesting. But where are this insurance money come from? Who pays them? If you look through the whitepaper, you'll be able to find that info. Part of money will be paid by the KYC masternode by itself. To get a reward you'll have to check the loan details properly and risk by your own money. Ah..thank you for the explanation. Now I got it Do you think will there be a lot of KYC masternodes? Who will risk by their own money? Hey, guys! I think that the profit will be bigger than risks. Also the risk makes KYC masternod owners to check the details on exch loan more properly The risk won't be so big. There will be a couple of masternodes which share risks and profits according to the WP. now that makes sense  |
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Is that good? If we can trade tokens on the exchange, why should anyone buy the node? |
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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. Yes, I've already joined them, thanks! That's an interesting. But where are this insurance money come from? Who pays them? If you look through the whitepaper, you'll be able to find that info. Part of money will be paid by the KYC masternode by itself. To get a reward you'll have to check the loan details properly and risk by your own money. Ah..thank you for the explanation. Now I got it Do you think will there be a lot of KYC masternodes? Who will risk by their own money? |
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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. Yes, I've already joined them, thanks! That's an interesting. But where are this insurance money come from? Who pays them? |
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Excellent! More share with us such news. We are waiting for more |
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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? |
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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?
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That's incredible!I waited! the Saifu team began to make tweets more actively. I now read information about Ben Banerjee.There will be information about the other advisors
I noticed it too. Looks like they hired a decent marketologist I liked the way they posted in social media, but for bounty hunters it's better to have more posts. Hmm, i think know how to improve their marketing. Maybe they should start ads in FB and Instagram. I saw a lot of ad with the similar projects in my fb in last 2 weeks. And I can't say they are better than Saifu  It's prohibited to place ads of the cryptocurrencies in FB and twitter, isn't it? |
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It will surely reach your all expectations as it really has some good benefits and also we can trust saifu as it can really keep al of our coins in a single exchange for safe. The wallet will really turn out to me most usefull in future to manage all currencies. I am also looking forward for more improvements and new developments of this project. I hope they can attract more investors to participate in the ico sales. Good luck to saifu team
Team is really strong and they got ~22M on the presales. I think they'll be able to get more and reach the hardcap |
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