We are excited to announce that the 8Pay Initial DEX Offering (IDO) will take place on Binance Smart Chain’s decentralized launchpad, BSCPad, on April 5.
This public offering will give users an opportunity to acquire 8PAY tokens, the native asset of our decentralized platform for automatic crypto payments. By owning a stake in 8Pay’s future, community members will be throwing their weight behind a permissionless payment protocol that enables automated crypto payments without the friction associated with existing payment services.
Ready for Liftoff
The BSCPad Launchpad is the first decentralized IDO platform for the Binance Smart Chain Network, and for us, it made complete sense to conduct the token sale there. Not least because 8Pay is built on Binance Smart Chain, the high-throughput, low-fee blockchain that has taken decentralized finance by storm. Of course, we also have plans to launch 8Pay on major EVM-compatible chains in the near future.
A total of 8,888,888 8PAY tokens will be available in the public sale: 25% unlock at TGE, then 25% monthly. This represents 10% of the total 8PAY token supply. To be eligible for the IDO, investors must hold a minimum of 1,000 BSCPAD tokens: our tokens will be available on popular decentralized exchanges PancakeSwap (BSC) and Uniswap (Ethereum) following the conclusion of the public sale.
So, why should you put April 5 in your diary?
8Pay is an innovative, smart contract-powered payment solution that lets users harness the power of crypto — its borderless nature, its privacy and security — and use it to cover single, fixed recurring, variable recurring, and on-demand payments, all at the click of a button.
At the moment, automated crypto payments are beyond the realms of what’s possible. With crypto, we can send and receive funds but we can’t set up recurring payments whereupon merchants can claim their due on a weekly or monthly basis. With the 8Pay web and mobile applications, users can set up repeated payments to vendors of their choice, track balances, and use their crypto to facilitate a range of automated e-commerce transactions.
By integrating such options into an intuitive application, 8Pay helps make digital payments effortless and underscores the true value of blockchain. Users can use BNB and other BEP20 tokens and stablecoins to pay for subscriptions, all without having to surrender their personal details or private keys to 8Pay.
What’s more, there’s no need to deposit funds: just send and receive tokens directly, wallet-to-wallet, with BSC’s lightning-fast blockchain ensuring speedy transaction times and low fees.
8Pay also allows users to lock native tokens to receive a share of protocol fees. Designed to be used by both consumers and merchants, the platform generates payment request links that can be shared directly (as QR codes or links) or embedded on web pages, with an API also allowing for integration into custom interfaces.
Cancel-Proof Crypto Payments
The 8Pay team is fiercely passionate about crypto, which is why we’ve built a product that can increase the utility of digital assets. Whether you want to use crypto to pay for a fixed subscription like Netflix, or make a variable payment like an electricity bill, we’ve got you covered. 8Pay eliminates the intermediary, enabling hassle-free, non-custodial payments all managed from within the app.
And that’s not the only benefit. Because 8Pay is fully decentralized, it allows merchants to monetize their content and services free of judgment or censure. Like many, we have been troubled by the authoritarian nature of cancel culture that has seeped into society in recent years. However, it only serves to highlight the pressing need for decentralization, whether it’s in finance, big tech or government.
The crypto gods have determined that April 5 is the date. We’ll see you at the altar.