Digital payment has become an essential part of our everyday lives. With the decreasing use of physical cash, many users are relying on digital payment options to settle daily bills. The drawback is that most platforms offering digital payments are heavily centralized. Some incorporate high fees and minimal incentives for users.<\/p>\n
Wirex Pay fixes all these shortcomings by incorporating blockchain technology to facilitate on-chain money transfers across wallets. The platform\u2019s goal is to bridge the worlds of traditional and decentralized finances.<\/p>\n
<\/a><\/p>\n Wirex Pay<\/a> is blockchain-based digital payment platform and a subsidiary of the popular UK-based digital payment company Wirex. The firm focuses on traditional financial services, enabling card issuance and processing and mandating that users undergo a Know-Your-Customer (KYC) assessment across 130 countries.<\/p>\n Describing itself as the first decentralized payment network, Wirex Pay harnesses Polygon\u2019s zero-knowledge (zk) technology to establish a decentralized, gasless, and on-chain payment system. The payment platform also facilitates decentralized lending and borrowing.<\/p>\n The platform enables transactions through the Wirex Pay Card, a self-custodial debit card that allows users to spend their funds within the traditional economy. More than 50 million merchants accept the debit card in over 200 countries.<\/p>\n Wirex Pay\u2019s operations are governed by a decentralized autonomous organization (DAO) called Wirex Pay DAO. The WPAY token is at the center of Wirex Pay\u2019s infrastructure. Built on the Polygon network, the crypto asset serves as the lifeblood of the Wirex Pay DAO.<\/p>\n WPAY is the governance token for the Wirex Pay network. Holders of the digital token can participate in the platform\u2019s DAO, voting on proposals and other decision-making actions. Users can also stake their tokens for rewards and operating nodes. The digital asset is also used to facilitate transactions and ensure the community retains control over the platform\u2019s activities.<\/p>\n Node operators were the first to receive WPAY due to their crucial roles in boosting the network\u2019s decentralization and security.<\/p>\n Emphasizing how WPAY plays a key role within the payments ecosystem, Wirex Pay co-founder Pavel Matveev said:<\/p>\n \u201cWPAY represents a key step in building the future of payments. Through Wirex Pay, we\u2019re offering a unique opportunity for users to engage with the crypto world in a practical and secure way, ensuring that digital currencies are not just speculative assets, but usable in everyday life.\u201d<\/em><\/p>\n The WPAY token should not be confused with WXT, Wirex\u2019s utility token. The WXT token enables fee discounts and access to premium features on Wirex. Holders also benefit from rewards open to the WXT community.<\/p>\n Although WPAY and WXT holders enjoy some similar benefits, they operate in different ecosystems. Unlike WXT, WPAY gives holders governance rights over the affairs of the Wirex Pay activities.<\/p>\n WPAY has yet to be launched on crypto platforms at the time of this writing. Interestingly, the token will debut<\/a> on the crypto exchange Gate.io on October 8 at 12 PM UTC.<\/p>\n WPAY has a total supply of 10 billion tokens developed under the ERC-20 token standard. Here is a breakdown<\/a> of how the tokens will be distributed to users:<\/p>\n <\/a><\/p>\n Point-based airdrops: Early Wirex Pay users will be rewarded with 5% of the total supply (500 million tokens). Following WPAY\u2019s listing on October 8, the development team has a strategy to ensure the sustainability of the governance token. A significant portion of the token\u2019s supply will be vested for many months and released in bits. The network\u2019s staking capability also encourages users to hold their tokens, preventing users from selling off their WPAY holdings.<\/p>\n WPAY\u2019s establishment as the lifeblood of the Wirex Pay DAO has shown the platform\u2019s determination to bring the most utility to its community. Wirex Pay aims to onboard the next billion users seeking to explore blockchain payment services, WPAY\u2019s listing on October 8 marks the beginning of the token\u2019s journey into the blockchain scene. Looking forward, the platform seeks to secure a listing on other prominent crypto exchanges aside from Gate.io.<\/p>\n The post Wirex Pay: Revolutionizing Digital Payments With Decentralized Solutions<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Digital payment has become an essential part of our everyday lives. With the decreasing use of physical cash, many users are relying on digital payment options to settle daily bills. The drawback is that most platforms offering digital payments are heavily centralized. Some incorporate high fees and minimal incentives for users. Wirex Pay fixes all […]<\/p>\n","protected":false},"author":0,"featured_media":12970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12969"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12969"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12970"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is Wirex Pay?<\/h2>\n
What is WPAY?<\/h2>\n
WPAY Tokenomics<\/h2>\n
\nveWPAY Rewards: Users who staked their tokens will be rewarded 12.86% of the supply (1.286 billion tokens).
\nLiquidity: 4% of the total supply (400 million tokens) will be allocated for exchange listings and market-making operations.
\nTreasury: 38.14% of the asset\u2019s supply (3.814 billion tokens) is allocated to the Wirex Pay DAO for the network\u2019s development and maintenance.
\nNode Rewards: 20% of the supply (2 billion tokens) will be distributed to node operators.
\nTeam: 20% of WPAY\u2019s supply (2 billion tokens) goes to the platform\u2019s founding members and employees.<\/p>\nConclusion<\/h2>\n
![<\/a><\/p>\nWhat is Wirex Pay?<\/h2>\nWirex Pay<\/a> is blockchain-based digital payment platform and a subsidiary of the popular UK-based digital payment company Wirex. The firm focuses on traditional financial services, enabling card issuance and processing and mandating that users undergo a Know-Your-Customer (KYC) assessment across 130 countries.<\/p>\nDescribing itself as the first decentralized payment network, Wirex Pay harnesses Polygon\u2019s zero-knowledge (zk) technology to establish a decentralized, gasless, and on-chain payment system. The payment platform also facilitates decentralized lending and borrowing.<\/p>\nThe platform enables transactions through the Wirex Pay Card, a self-custodial debit card that allows users to spend their funds within the traditional economy. More than 50 million merchants accept the debit card in over 200 countries.<\/p>\nWirex Pay\u2019s operations are governed by a decentralized autonomous organization (DAO) called Wirex Pay DAO. The WPAY token is at the center of Wirex Pay\u2019s infrastructure. Built on the Polygon network, the crypto asset serves as the lifeblood of the Wirex Pay DAO.<\/p>\nWhat is WPAY?<\/h2>\nWPAY is the governance token for the Wirex Pay network. Holders of the digital token can participate in the platform\u2019s DAO, voting on proposals and other decision-making actions. Users can also stake their tokens for rewards and operating nodes. The digital asset is also used to facilitate transactions and ensure the community retains control over the platform\u2019s activities.<\/p>\nNode operators were the first to receive WPAY due to their crucial roles in boosting the network\u2019s decentralization and security.<\/p>\nEmphasizing how WPAY plays a key role within the payments ecosystem, Wirex Pay co-founder Pavel Matveev said:<\/p>\n\u201cWPAY represents a key step in building the future of payments. Through Wirex Pay, we\u2019re offering a unique opportunity for users to engage with the crypto world in a practical and secure way, ensuring that digital currencies are not just speculative assets, but usable in everyday life.\u201d<\/em><\/p>\nThe WPAY token should not be confused with WXT, Wirex\u2019s utility token. The WXT token enables fee discounts and access to premium features on Wirex. Holders also benefit from rewards open to the WXT community.<\/p>\nAlthough WPAY and WXT holders enjoy some similar benefits, they operate in different ecosystems. Unlike WXT, WPAY gives holders governance rights over the affairs of the Wirex Pay activities.<\/p>\nWPAY has yet to be launched on crypto platforms at the time of this writing. Interestingly, the token will debut<\/a> on the crypto exchange Gate.io on October 8 at 12 PM UTC.<\/p>\nWPAY Tokenomics<\/h2>\nWPAY has a total supply of 10 billion tokens developed under the ERC-20 token standard. Here is a breakdown<\/a> of how the tokens will be distributed to users:<\/p>\n<\/a><\/p>\nPoint-based airdrops: Early Wirex Pay users will be rewarded with 5% of the total supply (500 million tokens).\nveWPAY Rewards: Users who staked their tokens will be rewarded 12.86% of the supply (1.286 billion tokens).\nLiquidity: 4% of the total supply (400 million tokens) will be allocated for exchange listings and market-making operations.\nTreasury: 38.14% of the asset\u2019s supply (3.814 billion tokens) is allocated to the Wirex Pay DAO for the network\u2019s development and maintenance.\nNode Rewards: 20% of the supply (2 billion tokens) will be distributed to node operators.\nTeam: 20% of WPAY\u2019s supply (2 billion tokens) goes to the platform\u2019s founding members and employees.<\/p>\nFollowing WPAY\u2019s listing on October 8, the development team has a strategy to ensure the sustainability of the governance token. A significant portion of the token\u2019s supply will be vested for many months and released in bits. The network\u2019s staking capability also encourages users to hold their tokens, preventing users from selling off their WPAY holdings.<\/p>\nConclusion<\/h2>\nWPAY\u2019s establishment as the lifeblood of the Wirex Pay DAO has shown the platform\u2019s determination to bring the most utility to its community. Wirex Pay aims to onboard the next billion users seeking to explore blockchain payment services, WPAY\u2019s listing on October 8 marks the beginning of the token\u2019s journey into the blockchain scene. Looking forward, the platform seeks to secure a listing on other prominent crypto exchanges aside from Gate.io.<\/p>\nThe post Wirex Pay: Revolutionizing Digital Payments With Decentralized Solutions<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Digital payment has become an essential part of our everyday lives. With the decreasing use of physical cash, many users are relying on digital payment options to settle daily bills. The drawback is that most platforms offering digital payments are heavily centralized. Some incorporate high fees and minimal incentives for users. Wirex Pay fixes all […]<\/p>\n","protected":false},"author":0,"featured_media":12970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12969"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12969"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12970"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/10\/wirex_pay_sponsored-1.jpg\"){kind=link}
![<\/a><\/p>\nPoint-based airdrops: Early Wirex Pay users will be rewarded with 5% of the total supply (500 million tokens).\nveWPAY Rewards: Users who staked their tokens will be rewarded 12.86% of the supply (1.286 billion tokens).\nLiquidity: 4% of the total supply (400 million tokens) will be allocated for exchange listings and market-making operations.\nTreasury: 38.14% of the asset\u2019s supply (3.814 billion tokens) is allocated to the Wirex Pay DAO for the network\u2019s development and maintenance.\nNode Rewards: 20% of the supply (2 billion tokens) will be distributed to node operators.\nTeam: 20% of WPAY\u2019s supply (2 billion tokens) goes to the platform\u2019s founding members and employees.<\/p>\nFollowing WPAY\u2019s listing on October 8, the development team has a strategy to ensure the sustainability of the governance token. A significant portion of the token\u2019s supply will be vested for many months and released in bits. The network\u2019s staking capability also encourages users to hold their tokens, preventing users from selling off their WPAY holdings.<\/p>\nConclusion<\/h2>\nWPAY\u2019s establishment as the lifeblood of the Wirex Pay DAO has shown the platform\u2019s determination to bring the most utility to its community. Wirex Pay aims to onboard the next billion users seeking to explore blockchain payment services, WPAY\u2019s listing on October 8 marks the beginning of the token\u2019s journey into the blockchain scene. Looking forward, the platform seeks to secure a listing on other prominent crypto exchanges aside from Gate.io.<\/p>\nThe post Wirex Pay: Revolutionizing Digital Payments With Decentralized Solutions<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Digital payment has become an essential part of our everyday lives. With the decreasing use of physical cash, many users are relying on digital payment options to settle daily bills. The drawback is that most platforms offering digital payments are heavily centralized. Some incorporate high fees and minimal incentives for users. Wirex Pay fixes all […]<\/p>\n","protected":false},"author":0,"featured_media":12970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12969"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12969"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12970"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-10-203149.png\"){kind=link}