What is PAID Network?
PAID Network (PAID) is a decentralized ecosystem that leverages blockchain technology to offer "smart agreements" powered by decentralized finance (DeFi). It is designed to provide more efficient and cost-effective business solutions for both users and businesses while empowering the community.
The platform is community-driven, aiming to redefine the civil legal system by introducing new ways to attract opportunities and value. PAID Network's smart agreements are standardized contracts with autofill smart features that simplify the process of arbitration and merge it with blockchain technology. This helps break down the complexity of the current legal system, reducing the need for legal counsel.
To support this new framework, PAID Network has introduced a set of DeFi tools that involve insurance, staking, and escrow. The platform's goal is to empower the community and minimize legal counsel expenses by creating financial toolsets.
PAID Network's core utility token is the PAID token, which functions as the prime service within the ecosystem. The token can be used to purchase contracts and subscription services fees, and holders may earn passive profit through coin inflation, lending, escrow, insurance, and arbitration services to the entities included in smart agreements.
The platform plans to allocate all generated revenue to token burning (25%), stakers (25%), and retained to the company (50%). Cryptocurrency burning is a process where a fraction of tokens are sent to a wallet with no private key, making them lost forever. Tokens are usually burnt to reduce availability and increase market value.
PAID Network was founded by Kyle Chasse (CEO) and a core team of experts in blockchain technology in 2021. The platform released its first whitepaper in September 2020, and the currency released the PAID token and BSC Ignition Launchpad in the same year.
In summary, PAID Network is a community-driven decentralized ecosystem that offers smart agreements powered by DeFi for more efficient and cost-effective business solutions. The platform aims to redefine the civil legal system by introducing new ways to attract opportunities and value while empowering the community. The PAID token acts as the core utility token within the ecosystem and can be used for purchasing contracts and subscription services fees. With a goal to minimize legal counsel expenses, the platform provides financial toolsets and has introduced DeFi tools involving insurance, staking, and escrow.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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