Introducing Passport Finance. The Mobile Focused DeFi

With DeFi (decentralized finance) consistently receiving spotlight in the blockchain industry, many users begin to seek for high-returning platforms. The only issue with such platforms and projects is the neglection of usability of DeFi projects. Passport, a community driven DeFi application, is geared for high usability. Our mission is bringing the innovations of DeFi to the user’s fingertips.

Problems in the Market?

Mobile payments adoption is slow despite the emergence of applications like Venmo and Paypal. Certain online payment methods charge excessive transaction fees creating international payments and transfers troublesome. Also, current payment systems lack a structured, universal reward system for merchants to easily implement and attract retail buyers.

What is Passport?

Passport is a DApp on the Paparazzi’s blockchain platform Vitae. Vitae, a latin word for life, is built for scalability and simplicity. The technical architecture, based on the Tendermint framework, is designed to power applications like Passport. Passport is a mobile-focused DeFi dApp with features designed for the users: global rewards, minimal transaction fees, exchange, payment, and more to come. Passport is creating a payment ecosystem

Anonymity, the direction towards Decentralization

As a service provider, our goal is to create a payment service that focuses on the users. A user friendly DeFi DApp powered on the Paparazzi blockchain. As we focus on user priority, we are also committed to decentralizing the ecosystem as much as possible. Later phase of the development shall implement governance using the PASS tokens to truly establish Passport as a community-driven platform. This is also the reasoning to remove our official involvement as a team, as we are focused on building the platform for the community members to participate in improving, building, and using the Passport ecosystem.

Update: We decided to go public with our Lead Dev and Advisors. Check here: https://passportfinance.medium.com/introducing-passport-finance-lead-dev-advisory-board-d00aaccc5842

Paparazzi Team’s Incubation

We have been selected by the Paparazzi team to be incubated. We will receive assistance in branding, design, and development. As we are built on the Paparazzi ecosystem, we have also committed to build a structure to have our transaction fees to help the stabilization and growth of PAZZI tokens. Later, our team will also implement the DID system being built on the Paparazzi ecosystem to further decentralize our platform.

Raise and Tokenomics Information

(i) Total Raise: 2,700 ETH

1. Private Sale: 1,200 ETH
2. Public Sale: 1,500 ETH

(ii) Sale Details:

1. Private Sale Price: 0.000080 ETH per token
2. Public Sale Price: 0.00010 ETH per token

{iii) Token Allocation:

1. Total Tokens: 100,000,000 PASS
2. Dex Liquidity: 5,000,000 PASS
3. Private Token Sale: 15,000,000 PASS
4. Public Token Sale: 15,000,000 PASS
5. Marketing & Partnership: 10,000,000 PASS
6. Company Reserve: 20,000,000 PASS
7. Team & Advisors: 10,000,000 PASS
8. Liquidity Mining: 25,000,000 PASS

(iv) Token Lockup Information:

Private Sale: 50% of the tokens will be unlocked upfront and rest will be released after 30 days.

Public Sale: 100% unlocked on listing

Marketing & Partnership: 10% tokens are unlocked at TGE, rest of the tokens are time locked and 10% will be released each quarter

Company Reserve: Locked for 2 Years. After which, it’ll be linearly released over a year each month.

Team & Advisors: Locked for 1 Year. After which, it’ll be linearly released for over two years each quarter.

Liquidity Mining: Based on farming yield, rewards will be unlocked

Stay tuned within our communities for the latest updates on Passport Finance

Website: www.passport.finance

Telegram Community: https://t.me/passportfinance

Telegram Announcement: https://t.me/passport_ann

Twitter: https://twitter.com/passportfin