Along with this, the platform also offers a Populous stable coin backed up by GBP (British Pound Sterling) which means one GBP is equivalent to one Populous GBP token. The token is based on ERC20 standards used by participants in attaining access to the auction and banking facility of Populous. Additionally, the ecosystem introduced PopDeFi as an open-source and non-custodial system enabling users to earn interest on deposits while borrowing crypto assets.Īccording to the whitepaper, PPT is the native utility token available on the platform. The Populous Invoice Program (PIP) of trading invoices is also incorporated in the PopEX platform. PopEX aims to bring traditional finance and crypto trading under a single roof. The platform also provides a feature named PopEX, which aims at offering Populous World Exchange to the users with no maker fee, advanced API (Application Programming Interface) and digital custody of the assets. However, both borrower and investor can operate on the platform once the KYC process is completed. In return, at maturity, the value of the invoice is transferred to the investor’s wallet through Populous. The investors bid on the invoice through which an instant loan is provided to the borrower against their invoice. The investors bid on the auctioned invoices listed by the borrower on the platform. The borrower trades their business invoice on the platform to attain an instant loan. The administrator approves and manages the interest of clients and their accounts. There are three actors within the system that is the administrator, the borrower, and the investor. Smart contracts are just like regular contracts however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. The platform uses smart contract features to initiate efficiency and reduced the risk of fraud in the system. Thus, Populous was developed to offer decentralized financial solutions to the users. The platform aims to offer secure financial transactions so that users are able to attain loans without facing hassles.Īpplying for a business loan has been a difficult task for small and medium enterprises as the centralized banking institution requires time and several documents before issuing a loan to the user. Populous (PPT) is a platform that allows safe and secure cryptocurrency trading to users.
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