Web3 payment protocol DePay is adding the Binance Smart Chain to their list of supported blockchain networks. In this context, DePay is currently hosting their Initial Multichain Offering with 500,000 DEPAY (BEP-20) tokens available.
Their intention was to combine the principle of a fair launch with launchpads, aiming to provide the fairest possible DeFi launchpad experience. Participants can expect not only highlights like unlimited personal allocation size (first-come-first-served) – most importantly, they can use DePay’s own payment products live at every step.
DePay is a set of Web3 payment solutions built on decentralized finance that enhances interoperability in the sector by enabling a user-friendly way to make crypto payments with on-the-fly token conversion.
Apart from payments, DePay also features a plug-and-play token sales widget, a subscription solution for various services, a donations widget and a crypto payroll to mention a few.
As an open-source platform, DePay’s payment widget is free and permissionless. It can be integrated into decentralized applications and websites thus enabling merchants to receive payments in their preferred asset while allowing customers to pay in any crypto on any blockchain.
As an example, a seller could configure the widget to receive USDT for each payment, while any buyer can pay with any tokens from their wallet.
Benefits of DePay’s Web3 Payment Protocol
Before the advent of DePay, crypto payment solutions across the board relied on the buyers owning or acquiring the tokens that were accepted as payment by the sellers. In fact, most cryptocurrency holders own a variety of tokens that are not accepted as payment. In addition, existing solutions are often highly centralized.
DePay brings about a breath of fresh air with a high-grade decentralized system where smart contracts perform every intermediate asset-conversion step through decentralized liquidity pools.
This ensures that providers can keep more of those users on their website or app who would normally bounce because they don’t have the accepted token for their purchase.
Apart from trustlessness and permissionlessness, DePay’s payment solution also brings about an intuitive user experience. In most cases, merchants looking to integrate a crypto payment solution have faced the challenge of abandoned carts as users move from platform to platform, trying to exchange their crypto tokens to the ones accepted by the merchant.
With DePay, ease of use with slick design is introduced to the Crypto payment experience as the payer remains put on a single platform while still perming the transactions. This removes the complexity of swapping and exchanging tokens.
In a nutshell, DePay’s payment widget scans the tokens in a payers wallet before the purchase is made and calculates the cheapest conversion route, thus introducing cost efficiency.
DePay IMO on the Binance Smart Chain
The DePay IMO launchpad on BSC utilizes DePay’s token sale widget that enables participants to perform the whitelisting and claiming of BEP-20 tokens in a very intuitive manner.
Aiming to be DeFi’s most fair launchpad, the token sale has no personal allocation limit for participation plus all participants who “pre-paid” (claimed) their BEP-20 tokens will get the tokens sent automatically and simultaneously to their wallets on the PancakeSwap launch date.
The IMO is set with 500,000 DEPAY tokens up for grabs. With DePay currently only available on Ethereum, participants only need 1 DEPAY token on the Ethereum network to be entitled to buy any amount of BEP-20 tokens via the launchpad. This is based on a first come first serve rule.
Half of the previously existing ERC-20 DEPAY tokens have already been translated to the BSC network by burning them on the Ethereum Network and minting them on the Binance Smart Chain.
After their BEP-20 token release, DePay plans to add support for many further major blockchains in the near future.
Disclaimer: This is a paid post and should not be treated as news/advice.