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Paprprintr Finance

PAPR

Paprprintr.finance is the first decentralized algorithmic stablecoin with elastic expansion and burn. It uses the Permaburn and Permapump technology. Approved

Stablecoins

Available chain:

Binance Smart Chain

Token symbol:

PAPR

Website: 

https://paprprintr.finance/

💵Tokenomics

Starting supply: 35,000PRNTR

Distribution: 

  • Team: 12'500 PRNTR (vested)
  • Pre-sale: 2'000 PRNTR
  • Farm: 85'000 PRNTR

Deposit fee: 0%

Performance fee: 4.4%

Withdrawal fee: No added withdrawal fee

💲 Token

Available chain:

Binance Smart Chain

Total supply:

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Market capitalisation:

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Available DEX/ CEX :

    🚀Presale

    Launch type: Presale (ICO)

    Amount raised: >100 BNB

    Presale date: 17.05.2021

    DEX listing date: 22.05.2021

    Start date (UTC time):

    End date (UTC time):

    Sale platform:

    Sale round:

    Access link:

    Whitelist requirements:

    target raised amount:

    Presale swap rate:

    Presale token valuation:

    Maximum spend per account:

    Sale vesting:

    Token vesting schedule:

    Prior funding rounds:

    Restricted countries:

    Presale review:

    🔒 Security

    Security Smart Contract audit: ✔️ Obelisk

    Locked team tokens: ✔️

    Locked Liquidity: ✔️

    Bscscan contract: ✔️ - verified

    Reference Protocols: BasisCash, bDollar

    The PaprPrintr protocol is an algorithmic stablecoin (not backed by collateral) which aims tobe pegged 1 for 1 to the US Dollar on the Binance Smart Chain and Polygon PoS Chain. The protocol aims to balance demand and supply though minting and burning of the stablecoin in order to maintain peg via the ‘PaprPrintr algorithm’. The ecosystem consists of:

    1.The PAPR stablecoin – the goal of the protocol is to keep this pegged to 1 USD.

    2.The PRNTR token – equated to an equity instrument (‘stocks’) -which is minted when the price of PAPR is above peg for an epoch (6h) for those who stake PRNTR.

    3.The INK token – equated to a debt instrument (‘bonds’) -available for purchase when the price of PAPR is below peg for an epoch –purchasing an amount of INK burns the equivalent amount of PAPR. INK can be sold at a premium the next time (next epoch) the price of PAPR is above peg.

    Documentation can be found here

    NOTE: It is unclear whether this mechanism has foundations in economic theory. Furthermore, the respective definitions of the PRNTR and INK tokens as equity and debt instruments given in the documentation have no regulatory validity and should not be considered as actual instruments of the respective types –at the protocol level these are two additional tokens within the ecosystem which ascribe to the functionality presented above.

    Regulatory Warning ⚠️

    In the current regulatory environment, primarily in the US, it is likely that private stablecoinswill need to abide to more stringent regulation –primarily in accordance with the risk profile and reliability of the assets which back the stablecoin as collateral. Regulation is less clear with regards to algorithmic and/or partially-collateralized stablecoins, however it is unlikely these are to be exempt from regulation simply due to the protocol not being backed by collateral off-chain.

    The proposed regulatory regimes as per SSRN-id3888752 are:

    1. transform stablecoins into the equivalent of public money by:

    (a) requiring stablecoins to be issued through FDIC-insured banks or

    (b) requiring stablecoins to be backed one-for-one with Treasuries or reserves at the central bank;

    2. introduce a central bank digital currency and tax private stablecoins out of existence.

    The specific accountability and regulatory risks which the private stablecoin issuer may incur in are outside the scope of the provided asset profile and review.

    🚀Launch

    Launch type: Presale (ICO)

    Amount raised: >100 BNB

    Presale date: 17.05.2021

    DEX listing date: 22.05.2021

    📊Hodlers

    Holder count: 371

    Number of whales (>1% supply): 3

    Largest non-team address balance (% of total supply): 1.87%

    😃 Executive Team

    Team doxxed:

    KYC performed:

    HashM

    Lead / Solidity dev

    Lex

    LEAD/PM

    iGuttenberg

    Solidity dev

    IamBlueDev

    React dev

    💬 Community

    Telegram members: 1'266

    Botted Telegram: No

    Reddit subscribers: 29

    Twitter followers: 1'453

    % fake Twitter followers: 17.7%

    Website SEO: 81/100

    🤼Similar category

    IronFinance

    bDollar

    Basis Cash

    🔜 Milestones

    ✔️ Paprprintr.finance (BSC) - First algorithmic Stablecoin with elastic supply and permaburn measures + autoliquidity generation

    ✔️ Vaults - First of its kind vaults that has no deposit/withdraw fee

    ✔️ LAZR PRNTR - Tool to create LPs instantly from single asset

    ✔️ Paprprintr.finance (Polygon)

    - PaprJobs - Free and decentralized platform for freelancer digital service providers and their customers

    - Origami - Multichain compatible asset bridge

    - PRNTR - Upgraded Share token with permaburn and auto liquidity creation mechanics

    - Decentralized Exchange

    - New Chains to PAPR

    - Loans

    - Betting platform

    🛩️Fundamentals

    How the PAPR ecosystem works

    - When PAPR TWAP is over $1 for an epoch (6 hours) :A percentage of the total PAPR supply is minted. The minted PAPR is given to userswho staked their PRNTR (shares) tokens depending of how many PRNTR theystaked.

    - When PAPR TWAP is under $1 for an epoch :

    a) PAPR minting is stopped. Instead, INK tokens (bonds) are available for sale.Users can buy INK with PAPR. For 1 INK bought, 1 PAPR is automatically burnt.

    INK tokens can’t be redeemed when PAPR is under $1, but they can be sold atthe price of PAPR² whenever PAPR goes back over $1. This is a premiummechanisms incentivizing users to buy bonds and helping the price to get backabove its peg.

    b) A Tax (determined by the community) is applied on PAPR sales, burning 100%of the tax in the process.

    Mechanisms to maintain the peg

    - Burn

    - Autoburn

    - Additional Printing

    Governance

    Paprprintr is a protocol that depends on its community. As a consequence, we willgive the possibility to its users to vote for what they wish to see for the protocoland even the whole ecosystem.The principles and mechanism depicted above are not immutable, and, forexample, tax rate will be a subject that will be debated with the community.

    👍 Review

    - Very active and supportive community.

    - Permaburn, an innovative peg maintainer.

    - A multi-asset coin with a large pool of potential investors (BSC, KCC, Polygon).

    - A detailed and comprehensive roadmap that will continue to improve the token's utility.

    - There is a general lack of interest in algorithmic stablecoins. Especially following the collapse of Iron Finance.

    - A more renowned smart contract audit would be a plus.

    💬 ️What the community says


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