The role of EPAN token

Paypolitan
2 min readNov 17, 2020

Token utility and DeFi aspects

The Paypolitan token contract will be a smart token that mediates and stores the ownership of Paypolitan tokens among accounts. It’s a modified version of the ERC20 token contract that adds flexibility to its payment and transfer protocol. The Paypolitan token contract will be the ledger used by Paypolitan to keep track of the account balances, access tokens, transfer contracts, and transfer restrictions associated with the accounts. Also, it will include the mapping between the transfer contracts and their associated restrictions. The token contract will be managing approval of transfer tokens, adding/removing limiters, executing transfers;

As a DeFi venture, Paypolitan aims to drive growth and engagement on the platform through an efficient decentralized ecosystem including governance mechanisms, staking and yield farming opportunities.

Governance

EPAN tokens will be used for voting to manage new features and add new assets to the Paypolitan Wallet. To propose voting one wallet should have sufficient amounts of EPAN tokens which will be defined later in tokenomics. Initially, a certain amount of raised funds and the tokens which will be later described in the tokenomics will be used for the liquidity to create a trading pair on Uniswap. Exchange listing decisions are also proposed in a community vote for every staker of EPAN tokens same as decisions on liquidity, for example, to move funds from Uniswap to another DEX Possible lending product launch if users will vote for it to increase earnings from the staked tokens.

Staking

To participate in EPAN farming, a user needs to transfer his asset to the EPAN staking pool inside the EPAN application or just by transferring his EPAN to the EPAN Staking smart contract. Interest calculated daily at 21:00 UTC. Staking interest is distributed from staking pool according to the tokenomics which will be defined later

If manual staking:

  • Staked EPAN tokens will be transferred daily to the wallet from which tokens were transferred together with the earned EPAN

If using Paypolitan app:

  • Staked EPAN can be redeemed by user anytime he claims back his capital automatically
  • All staked EPAN by default will be used for staking to earn more EPAN
  • If redeemed, full capital returns back with all earned EPAN excluding last day’s staked tokens

Yield farming

Users can choose to use their funds for yield farming. To participate in the yield farming user needs to transfer his assets to the liquidity pool. Funds from the liquidity pool are transferred to the Uniswap and earnings from the trading fees are distributed among staked EPAN

Links

Web: https://paypolitan.io
Twitter: https://twitter.com/paypolitan
Telegram community: https://t.me/paypolitan_chat
Telegram news: https://t.me/paypolitan_ann
Discord: https://discord.gg/nShrBZfeJd

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Paypolitan

Paypolitan is a revolutionary mobile payments solution for fiat and cryptocurrencies with yield farming