The sale of tokens on IEO has been completed. From now on (9th of June, 2021), the PAYB token is traded on the Kanga Exchange. This means that the tokens can be traded in accordance with the rules of the exchange, but you can also deposit them on PoS [Proof of Stake] and derive passive income from them in the form of a 25% of the 8% fee, charged by payb.io for payment intermediation, distributed proportionally among token holders.
The prize will be paid on the 15th day of each month (starting from July 2021) and will be available to all PAYB tokens deposited on that day in a PoS account on the Kanga Exchange.
The amount of the prize will be related to the income from the fee charged by payb.io for intermediation in payments for cryptocurrencies in the preceding month. The maximum number of tokens eligible for the prize is 2.1 million. If on the day of distributing the prize, less than 2.1 million tokens are deposited in the PoS account, a proportionally higher share will be allocated to each token. The more tokens there are on the investor’s PoS, the higher his passive income from each transaction will be.
In order to receive the prize, the tokens must be transferred to the Proof of Stake system (PoS for short) and they must be in the PoS on the day of paying the prize.
– Settlement and distribution of Proof of Stake (PoS) rewards takes place at 00:00 UTC time
– Tokens can be deposited into or withdrawn from your PoS account at any time
– It takes up to 48 hours to deposit and withdraw tokens
– Only tokens that have been in the PoS account for the entire billing period (from midnight to midnight UTC) are taken into account when calculating the amount of the prize
The first prize will be paid on July 15, 2021 and will be related to the income obtained from the payment intermediation fee in the month of June 2021.
How to deposit PAYB on PoS?
1. Log in to your Kanga Exchange account and go to the PoS tab
2. In the top right panel, select the PAYB token
3. In the Transfer panel, select PoS Deposit from the drop-down list
4. In the Quantity field, enter the number of tokens you want to deposit
5. To deposit the entire available PAYB balance, click the MAX button
6. Click the Transfer PAYB button
In the dialog box, you will see a summary of the transfer and the time until the tokens will appear on your PoS account. Make sure the amount is correct and then confirm your withdrawal by clicking the Transfer button. The withdrawn amount will be immediately deducted from your wallet balance. Until you add it to your PoS account balance, it will appear under “Pending”.
Passive income will be paid in the form of stablecoin Omega PLN. It is a token based on the Ethereum blockchain with an exchange rate close to 1:1 to the Polish Zloty. PAYB tokens do not give the right to participate in other current or future income of payb.io apart from the share in the income from the brokerage fee, which is 8% at the moment.
Detailed description of payb.io, PAYB token, distribution of passive income and investment risk – available here (whitepaper)