We’re delighted to be announcing that Cryption Network, a suite of DeFi products for the retail investor, will be launching their IDO on Ignition. The platform aims to make DeFi more accessible to the masses, changing how people interact within the space. We can’t wait to see the excitement that this project generates. Here are some dates you might want to take note of if you wish to participate.
- Whitelist Start: May 29, 2021 11AM UTC
- Whitelist Close: June 01, 2021 4AM UTC
- IDO on Ignition: June 08, 2021 11AM UTC
Vesting Period: ⅓ on Redeem on Ignition and ⅔ over the next 2 months.
Submit an entry for the Cryption Network IDO lottery HERE!*
What is Cryption?
DeFi is an intimidating space for a newcomer. Those getting started are confronted with an endless array of Yield Generators and Liquidity Pools to invest in. On top of that, there are a huge amount of pitfalls in DeFi. Users have to be aware of hacks, rug-pulls, and other scams. There is always the opportunity for the uninitiated to lose all their funds as a result of being uneducated about the dangers.
This presents a huge problem when it comes to making DeFi mainstream. Most of the mainstream are used to investing their portfolios through simple, easy-to-use apps that have all the required functions in one place. At the moment this type of service is rare in DeFi.
This is a massive barrier to DeFi becoming truly mainstream. The people DeFi needs for it to become mainstream are the people that will need all of their DeFi services in one place. Cryption aims to fill this gap by providing a suite of simplified DeFi services. All of these services will be available through a simple app making the world of DeFi as accessible as possible.
How It Works
With the suite of products available on Cryption Network, retailer investors can easily avail of all the benefits of DeFi. The Cryption App will serve as both a wallet and a means to access all of these products. The Cryption App is a DApp browser for both the Polygon and Ethereum ecosystems.
PolyDEX is the automatic market maker of The Cryption Network. Modeling itself as the PancakeSwap of the Ethereum Network, PolyDEX uses a L2 solution to deliver zero gas fees. It also features a L1-L2 bridge that allows liquidity to be transferred from Ethereum to Matic.
With Seer, another of the products on The Cryption Network, users can create markets based on predicting their own chosen topic. These topics could include anything from an election to the price of a share. Seer can also be used as insurance against certain events such as hurricanes or other natural disasters. The high frequency trading available on Cryption thanks to PolyDEX’s zero fees, make the applications for Seer huge.
On top of that, Cryption also offers a DeFi stack (a product that will cater to all of the DeFi considerations of a new project such as tokenomics, liquidity and circulating supply) and non-custodial portfolio management.
The native token of The Cryption Network is the CNT token. Every Cryption transaction will require a fee and part of that will go to buying back CNT. This will create constant buying pressure on CNT. To increase this pressure, half of the CNT bought will be burnt.
The tokenomics of Cryption are geared towards strong and sustainable development of the entire ecosystem.
- *Tokens in circulation may be lower than the total market supply as the supply depends on the number of tokens purchased.
- **For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which vary per project on a case to case basis. For a list of Cryption specific restricted KYC countries, check HERE.
Cryption is building a suite of user friendly crypto products for the normal investor looking to get involved in crypto. This platform offers a low fee DEX, a market maker that can be used to create a market for any event, and a service that assists projects starting in the DeFi space. Cryption is committed to making DeFi as accessible as possible.
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol which allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.
Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform, it FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
For any questions for the PAID network, please feel free to reach out to us on: