Abstract – PulsePay will revolutionize payments by offering a unique reward to users in the form of a payment reward token. The idea that a ‘token of appreciation’ isn’t just a cultural cliche, but actually a subtle blueprint that a culture itself is framed by, and acts as a driver for the concept behind PulsePay.
This, IMO, forms the very basis of trade. In it’s very nature, trade is simply ‘giving’ wrapped in the fabric of a reward dynamic called profit, reciprocation, or barter. The idea that the ‘gain’ is the value of a trade, is the latter effect of the past season in a time of change, when in fact true wealth is the natural expression of every soul alive. Currency itself is simply the container, while offering it as a reward fills it with some unique value.
Introduction.
PulsePay is a payment system that unlike Legacy or centralized finance offers a reward for it’s use versus the cost we expect. We have become accustomed to the idea that someone needs to pay the centralized “system” a 3% fee for use, when the only reason behind it is interest being charged by the gate keepers of Legacy finance.
New systems are often the result of improved technologies, more efficient models that can outperform their counterparts. Legacy has run it’s course as a financial model. The mere weight the model holds in debt is beyond repair. We see this as fees we’re charged from the moment fiat currency is acquired. Cryptocurrency payment through an incentivized model solves this.
Subtle changes in the panorama of culture often go unseen. Small collectives have almost always been the instruments of macro events that go unnoticed until history’s 20/20 lens looks back at events and trace their origins. Malcolm Gladwell discusses this in “The Tipping Point”. In this instance of history, there is a combined dynamic happening with small collectives and various cryptocurrencies; a new technology that has the nature of decentralizing the current centralized financial model built into it. The combination of these effects is placing the creative and technological pioneers in the same pool, to spawn ideas built on a platform of decentralized financial models. In this paper we will discuss the road map for PulsePay.
The Road Map
- The first step is to build a bridge between the collectible world of fashion and the collectible world of art. Next we need to bridge the gap between online merchant services and the Web3 community, and that’s where PulsePay comes in. Our online merchant services are geared specifically to meet the needs of this kind of bridge; to meet change as it emits from within the fastest growing asset class in history.
It may take awhile for people to see the timely nature of change while it’s actually occurring, which is why PulseMerchantile.Pro is literally framing a time-capsule of events by immortalizing the NFT Art coming out of this web of small communities on PulseChain. Not only do our collectibles gain value, as they bring more attention to the Artist’s and Communities on PulseChain giving them more value over time, but they also capture a moment in history where change begins. How it Works: It begins with a selective process of presenting strong NFT Art being produced in the community. We do this by purchasing the NFTs we’re interested in and design a whole campaign around it. We design a garment, so far we’ve chosen Hoodies – in the future that could change, and lock a limited number of 25 prints of that design. 24 are sold to the public and the 25th is retained to be claimed as a reward for purchasing the original NFT Art we will offer to be auctioned at the end of every Collectible Print run.
The winning bid will receive a wrapped version of the NFT along with a key to unlock the NFT, and a gift box which can be delivered by courier in a solid orange gun case, anywhere in the world.
Within the case will be a minimum of $500 in additional collectible and non collectible items. This may include anything from a numbered silver coin to a Bag of Jelly Bellies, whatever gives quality to the theme of the design.
The result is that the Hoodie will give more collectible value to the NFT, and thereby the Artist’s Collection/Collections. The Single 25th signed Limited Edition will give more value to the series within the Fashion Collectibles world. These values have the potential to link collectible communities and give more value to both. This is a natural effect of pooling utilities similar to Brownian Motion. A high-tide lifts all ships. - Building the Physical Bridge – PulsePay
PulsePay will be the first payment system that uses an immutable contract to perform vendor client order fulfillment, that also mints a reward to the msg.sender. If that client was to receive that reward without a liquid market to give it use-case, it wouldn’t have any real value. Instead, and to give it value, we will release 33.3% of the total supply at mint, and distribute the remaining 66.7%; 20% into LP, as well as, the remaining 46.7% through the purchase/mint mechanism of the contract, offered as a reward for using PulsePay during the 2 year distribution period*. After that, UPT will have an annual inflation of 3.69% and in time become a payment option. (*all remaining UPT at 2 years will be distributed to the 5555 mint holders).
How it Works
We’re starting with the Free Mint of CyberSteamPunks, 36 NFT Collectibles. The 37th will become a collectible hoodie. And follow the process explained above. Anyone holding one of these 36 will be entitled to the first mint phase of Nirvana, 111 unique NFT’s, the rest will be minted to the public at 1M PLS ea. Holders of these NFT’s will be entitled to mint 3 free NFTs of the next project, a 5555 piece NFT project TBA at the staging point of its release.
Once the entire Collection of 5555 pieces has been distributed, holders will receive 33.3% of the total supply of UPT given out over the next 6 weeks. We encourage anyone receiving this to join it in LP with Stables, PLS, HOA and 9mm. Another 20% of the UPT total supply will be added to liquidity paired with Stables, PLS, HOA and 9mm LP. The LP token will then be burned providing a liquid market at launch. And, no part of the supply will be shared by the creators or developers leaving no rugs to pull. - Development for PulsePay has already begun. Our goal is to produce it as a WordPress/WooCommerce Plugin that we can release, after testing and auditing, for free. A simple Smart Contract will perform the transaction and mint the msg.sender (payer) a UPT reward based on the percentage adjusted, during and after the 2 year period. At the end of the 2 years, and once the inflation rate has been set at its final rate, the contract will be locked. This will give vendors using our payment system an advantage over vendors using traditional payment methods, even crypto payment methods where Legacy models are still being used, by directly clearing payment commitments with clients in real time, free. And this is just the beginning.
- The next step will be to build a comprehensive dashboard of tools that give Vendors a more granular way to manage their business, inventory, and more, and PulsePay can offer this as a service.
- Once we have developed a secure business payments system, we can then incorporate it into a hardware based payment ‘system’ we can offer to businesses in the real world, from coffee houses to restaurants, that can benefit by taking payments in cryptocurrencies and possibly add a competitive edge to the fact they can.
We set the inflation at 3.69% to incorporate the growth we expect over time as we expand our presence into new vendor communities with cloud based software solutions and complete POS and inventory/cash management systems. This is the target we’ll assess all our future decisions by.
In Summary
Keep in mind that all these ideas came from the inspiration being emanated from a small group of DeGen Artists, and a new blockchain full of young project leads – PulseChain, and the man behind both PulseChain and Hex – Richard Heart. The goals here are all within reach of our current technology, and the plan of being a major payment system in the world will take time, patience and an elastic nature, as it is ever and fast changing technology. This is a role our entire team has committed to. Slow and steady wins the race.
It doesn’t make sense that under the current climate of technology a vendor should be expected to pay a fee for taking a transaction for goods sold, in a time when Visa can be rewritten as a Smart Contract you can just walk away and leave to do its business. No one to pay, no points to cover, PulsePay is just a simple smart contract transaction that mints a reward to the user.
Given the choice, people will choose the path of least resistance, and we believe that getting something, versus paying more, hits the sweet spot of finance. The real goal now is to make it as simple to use as an iPhone, and make it the people’s payment solution.
The side effect of onboarding users to PulseChain is a rather secondary note, but one of significance… if you consider ‘use-case’ the real value being prescribed here, and the very sticky nature of habit. If PulsePay is truly successful, it could itself define the measure of current through use case, just as Google became a verb. We chose the nomenclature for that very reason. The Universal Payment Token(UPT) has all the ingredients to someday be worth 1 UPT.