Bitcashpay, an all-in-one multi-platform DeFi project, has announced that they will integrate with TrustSwap to aid in the execution of their token offering on March 6th at 9:00 AM PST. Bitcashpay is in the process of registering with the SEC in the Philippines and plans to register with the US SEC as well.
Bitcashpay — Key Features at a glance.
- Payment System — Bitcashpay Financial Technology Inc., aims to be one of the largest payment solutions globally providing real-time transaction balance and history. With Bitcashpay app, users will be able to purchase products and services including things like mobile minutes, fast food, gasoline, airfare, and more.
- Decentralized Exchange — Bitcashpay will develop a decentralized cryptocurrency exchange integrating Layer 2 scaling solutions to solve the high fees and slow transactions on the Ethereum network. This exchange will also integrate a cash-in/cash-out feature wherein users can buy cryptocurrency with their credit or debit cards as well as convert their cryptocurrencies into fiat.
- Crypto Academy — Cryptocurrency is still in its early stages. Bitcashpay Crypto Academy aims to educate people about cryptocurrency and how to use it. They will be educating professionals including lawyers and accountants who want to expand their knowledge and understanding of crypto and help them with placement and referrals.
- Staking and Liquidity Farming — Users can earn up to 12% APY by staking in the platform and up to 180% APY by providing liquidity.
- Decentralized Lending — All lending activities will be accessed through a smart contract to prevent misconduct to both lender and borrower.
- Bitcash Co-op — A multi-purpose cooperative will be established where in members can borrow money. Members are required to buy $BCP token and use it in paying their loans. Permits and licenses are being secured so that this multi-purpose cooperative will eventually become Bitcash Bank.
- Token Burn — Five percent of the monthly income of Bitcashpay Financial Technology Inc. will be used to buy tokens from exchanges and burn them to reduce supply.
The Bitcashpay team is focused on product development. They launched their first peer-to-peer lending platform, FastCash3K, in July of 2019 and are already partnered with one of the biggest transportation companies, the Nokarin Transport Services. They have created 6 products within one ecosystem: blockchain-based bank with staking, crypto lending, crypto exchange, crypto wallet, payment gateway for merchants, and the Bitcash Co-op.
The Core Team
Bitcashpay team is composed of experienced traditional businessmen, blockchain advocates, blockchain developers, financing experts, and experienced marketers.
Token Offering Details
TrustSwap technology utilizes simple and secure peer-to-peer transactions via TrustSwap SmartLaunch™ which ensures that Bitcashpay and its community can transact securely and without the fear of participants or team members negatively impacting the markets following the public offering. TrustSwap’s Time-based SmartLock™ ensures a methodical distribution to mitigate the risk of unauthorized token transfers.
Bitcashpay will use TrustSwap SmartLock for:
- Team token vesting
- Token holder vesting
- Token Locks & Liquidity locks
Upon the conclusion of the offering, a Uniswap pool will be created on 11th March, 2021 and$BCP trading will commence.
To participate in the Bitcashpay token offering, you must:
1) Be staking at least 4000 $SWAP tokens OR have a SwapScore over 2,500.
2) Not be domiciled in the USA or any UN-sanctioned countries.
3) Submit a complete application within the 12-hour launch window.
4) Successfully pass KYC verification.
Everyone who meets the requirements above is guaranteed an allocation. The $1.87M allocation will be split amongst all applicants based on tiers as follows:
Allocation Multiplier Bonus for Staking $SWAP
To receive a 1X allocation, you can either be staking 4,000+ SWAP or have a Swap Score of 2,500 or more.
SwapScore is a rolling 60-day average of staked SWAP so the more SWAP you stake and the longer you have staked it, the higher your allocation multiplier will be. You can find your SwapScore here. The staking snapshot is taken when the launch begins on March 6th at 9:00 AM PST.
Individual maximum allocation amount will be determined after the 12-hour launch window closes and is directly influenced by participation levels.
NOTE: To receive a guaranteed allocation you must have at least 4,000 SWAP staked or a SwapScore over 2,500 in addition to passing the KYC and filling in all the required details in the pledge form.
2.5% of the total $BCP token supply will be distributed in a “SwapDrop” as follows:
- 1% will be given to the top 1000 SwapScores (snapshot taken at 9:00 am PST, March 5th) claimable on the TrustSwap Dashboard via a 3 month daily vesting contract.
- 1% of the total supply will be placed into a $BCP farming pool where people can stake $SWAP and receive $BCP.
- 0.5% will go to the TrustSwap Foundation.
For more information on the TrustSwap SwapScore and the token farming and vesting portals, please see the TrustSwap Dashboard here.
Secure Launch Process
To ensure a smooth launch, Bitcashpay has agreed to:
1) Have their domain fully SSL certified one week prior to token sale date.
2) Have their domain protected by Cloudflare and share proof with TrustSwap one week prior to the token sale date.
3) Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.
4) Add no less than $200,000 of ETH liquidity on Uniswap immediately upon listing.
5) Distribute tokens to launchpad participants within one hour of Uniswap listing using multisend.io.
6) Lock liquidity within 3 hours of listing for no less than 60 days at http://team.finance/.
7) Provide the timeline for token distributions and distribute tokens within a one-hour window of the agreed-upon time.
8) Lock 75% or more of team & dev fund tokens for a minimum of thirty days on http://team.finance/ within 6 hours of funding liquidity on Uniswap.
9) Have at least one community moderator on each social platform (Discord, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch on Uniswap.
- Go the Blockpass KYC Portal here to upload your documents and details any time between 9PM PST March 1st, and the end of the Token Offering (9:00 PM PST March 6th). If you try to submit before 9PM PST on March 1st, it will not work.
- If you try to submit within the correct time window, and you are rejected, or it does not work, that’s okay. You will be able to fill in the “old” KYC method with manual upload directly to the launchpad application form.
- Once the Launchpad is live between March 6th from 9:00 AM to 9:00 PM PST, go to https://dashboard.trustswap.org/app/launchpads and click the button to apply and fill out the form.
- After twelve hours, the portal will close. There will be a waiting period of up to 72 hours as the Bitcashpay team finalizes internal processes.
- If your application is successful, you will receive an email indicating how much you are able to contribute along with payment details.
- Monitor your E-mail closely (including any “Spam” or “Promotions” folders). Once the email arrives, you will have 24 hours to send the funds.
What Should I Do to Prepare for the Launchpad?
- Based on the requirements set for a guaranteed allocation, stake your $SWAP tokens here before March 6th 9:00 AM PST.
- Log in to the Blockpass KYC portal here and provide your details any time before the token offering ends at 9:00 PM PST on March 6th.
- Make sure to submit your form here during the 12-hour application window from 9:00 AM to 9:00 PM PST on March 6th, 2021.
New KYC Method with Blockpass
By doing KYC with Blockpass, you will not have to re-do your KYC for at least three more months. Blockpass will store your KYC data for you.
If you have issues with Blockpass KYC, no worries! You can still fill out your KYC manually, in the form, as we have done for previous launchpads.
Using Blockpass does not impact your allocation size or chance at an allocation. Blockpass is being used as we recieved a lot of requests for a single upload kyc, so that users do not have to re-upload for every launchpad.
Again, to re-itterate, you can either use blockpass, or use the standard KYC method that has been used in the past.
Learn More About Bitcashpay and the $BCP token
For more information on Bitcashpay and their $BCP token, please read the White Paper and join their Telegram community using the links below.
White Paper: https://cdn.bitcashpay.net/bitcashpay-whitepaper.pdf
Telegram Community: https://t.me/bitcashpayofficialgroup
Telegram Announcements: https://t.me/bitcashpayofficialANN
*Disclaimer*: Launchpad dates and details are subject to change. This is not an endorsement, partnership, or an offer for investment by TrustSwap. Bitcashpay is using the TrustSwap Launchpad as a customer, with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.