Papyrus Announce Strategic Partnership with Bancor

ADVERTISEMENTSexhastaWorldcore ICOParagon ICOSpectre Token Sale

Share with:

Papyrus— the world’s first fully comprehensive and highly scalable decentralized ecosystem for digital advertising—is proud to announce a partnership with Bancor, a well-known crypto project that has created a protocol for the instant conversion of Ethereum ERC20 tokens.

Shortly after the first round of Papyrus’s TGE this partnership will bring to participants of the Papyrus ecosystem a Bancor Token Changer—a decentralized and automated solution for easily converting PRP to BNT. BNT holds an ETH reserve, therefore two-way PRP—ETH conversions will also be immediately possible. Exchange of PRP to other ERC20 tokens integrated with the Bancor protocol will be supported as well. The ERC20 tokens might soon include such stable coins like USDTether that has recently announced that it is to develop an ERC20-compliant version of the cryptocurrency.

The PRP—BNT Token Changer is essentially a decentralized liquidity pool of PRP and BNT tokens, reserved in a Bancor protocol compliant Smart Token. A Smart Token is a new type of cryptocurrency, pioneered by Bancor, which utilizes reserve tokens and smart contracts to allow for the decentralized conversion of tokens through a two-step process entailing asynchronous real-time pricing of the Smart Token according to a formula based on a predetermined parameter, the CRR—a constant reserve ratio of the balance of each of the reserve tokens to the Smart Token’s market cap.

In other words, thanks to the PRP—BNT Token Changer, publishers and advertisers participating in the Papyrus ecosystem won’t have to deal with redundant costs and challenges with liquidity: they’ll be able to easily exchange PRP—received for their services—to BNT, ETH, or any other ERC20-compliant tokens in the Bancor decentralized liquidity network. Similarly, external players in the digital advertising market interested in utilizing the services of Papyrus participants or in placing a PoS-deposit to register in the ecosystem will be able to easily buy PRP directly from the Token Changer’s smart contract, avoiding cryptocurrency exchanges and counterparty risk.

Alexander Shvets, Product Director at Papyrus, commented on the partnership: “The PRP—BNT Token Changer will protect the participants of Papyrus from volatility and the inherent risks of centralized platforms and, therefore, will facilitate the formation of the market in our decentralized ecosystem. And since this Token Changer will immediately ensure continuous liquidity for our prototype PRP token, we’ll be able to concentrate on integrating new partners and accelerating the development of our ecosystem.”

Eyal Hertzog, Chief Product Architect at Bancor, who has recently joined the Papyrus advisory board as Strategy Advisor, gave the following statement on the collaboration of the two projects:

“At Bancor, we want to enable a global decentralized liquidity network, where token conversions will be automated, transparent and secure. We are thrilled to have found kindred spirits at Papyrus—a unique project that aims to transform the digital advertising industry once and for all, utilizing blockchain technology to create an ecosystem that will endow the interactions of all participants—from publishers and advertisers to end users—with efficiency, transparency and security. We look forward to their progress and collaboration with like-minded initiatives.”

The technical details on the PRP—BNT Token Changer will be announced after the completion of the first round of the PRP token sale that begins on October 12 (14:00 UTC) and ends on November 2 (14:00 UTC): the starting price — $0.8, the hard cap — $5 million.

  • Prosense.tv Announces $30M Initial Coin Offering for its Peer-to-Peer Virtual Reality Livestream Platform Built on Blockchain; Launches November 3, 2017 – October 6, 2017
  • Chamber Of Digital Commerce And U.S. Department Of Commerce Lead The First Blockchain Certified Trade Mission To The United Arab Emirates – October 6, 2017
  • Binary.com Announces Initial Coin Offering (ICO) – October 6, 2017
  • Papyrus Announce Strategic Partnership with Bancor – October 6, 2017
  • David Orban joins Neuromation.io as advisor – October 6, 2017
  • Zilliqa Unveils A New, High Transaction Rate, Scalable Blockchain – October 6, 2017
  • Miniapps.pro Token Private Presale Has Attracted $500,000 – October 6, 2017
  • Pundi X Launches First Retail Point Of Sale Solution For Cryptocurrency In Indonesia – October 6, 2017
  • Gameflip Announces Upcoming Sale of Crypto-Token (FLIP) for Gaming Digital Goods – October 6, 2017
  • Exscudo Successfully Launches Eon Blockchain Testnet – October 5, 2017
  • Energy Web Foundation launches Blockchain and Application Layer Test Network – October 3, 2017
  • Leading Blockchain Law Firm MME Introduces New Legal Framework to Shape the Future of Tokenized Assets – October 3, 2017
  • Outlier Ventures Backs Evernym To Bring The World True Self-sovereign Identity – October 3, 2017
  • Cardano launches with Bittrex as first exchange partner – October 3, 2017
  • Invotra Launches Digital Workplace that Uses Blockchain – October 3, 2017
  • Unolabo Wants to Lift The Next Billion Users Out Of Poverty – Announce Token Sale – October 3, 2017
  • Aion, the First Interoperable Blockchain Network, Announces Advisory Board – October 3, 2017
  • Bank Aljazira Wins The Race For The First Blockchain Use Case In Saudi Arabia With Its Blockchain Ewallet – October 3, 2017
  • Real Estate Tokenization Platform BitProperty to Launch a Token Sale After Beta Release – October 3, 2017
  • BlockMason Successfully Launches Whitelist Capped Token Sale – October 3, 2017
  • US SEC Goes Charges ICO Businessman For Defrauding Investors – October 1, 2017
  • Pre-ICO Launch: HireMatch Offers Solution to Expedite Recruitment Process – October 1, 2017
  • STK Global Payments Announces The STK Token, Providing Instant Cryptocurrency Payments At Point Of Sale – October 1, 2017
  • ICO Regulation News Accelerating – Analysis – October 1, 2017
  • Streamr, The Decentralized Real-Time Data Economy, Successfully Reaches 5 Million CHF Pre-Sale Cap in 25 Minutes – October 1, 2017
  • BitClave Announces Partnership with Bancor – October 1, 2017
  • Clicktopurchase Adds Blockchain to Established Property Purchasing Platform – October 1, 2017
  • Former White House CIO Joins COBINHOOD as Strategic Advisor – October 1, 2017
  • Steemit Introduces New Way To Monetize Media And Publishers – October 1, 2017
  • Etch ICO Wants to Revolutionise Payroll Platform – Boosted by KPMG Collaboration – October 1, 2017
  • DMarket Announces Second Phase of Token Sale – October 1, 2017
  • DECENT Wins Big at the Central European Startup Awards – October 1, 2017
  • Massively Distributed EOS-derived Blockchain XenonNetwork to Begin Token Distribution – October 1, 2017
  • modum.io AG appoints Simon Dössegger as CEO – October 1, 2017
  • INS Aims To Put Grocery Shopping On Blockchain, Announces Unilever Expressed Interest And ICO Dates – October 1, 2017
  • Coinloan Provides Money Secured On Cryptocurrency – Launching Token Sale – October 1, 2017
  • Verisart And Avant Arte Partner To Provide Digital Certificates Of Authenticity To Artists And Collectors Worldwide – October 1, 2017
  • Goodwill Protocol Ico Looks To Fix Current Broken Economic System Through A Digital Economy That Operates On Human Goodwill – October 1, 2017
  • Accenture Joins Hashed Health Blockchain Consortium to Develop and Implement Healthcare Industry Use Cases – October 1, 2017
  • Polymath Unveils Stacked Board of Advisors, First Token Issuers & a ‘GitHub for Lawyers’ – October 1, 2017
  • DECENT and Venaco Group Create a New Blockchain Joint Venture, Equidato Technologies AG – October 1, 2017
  • BankEx, the Decentralized Bank-as-a-Service Exchange, Welcomes Stanford and Maryland Academics as Advisors – September 30, 2017
  • Earth Token Wants to Save the Planet – September 29, 2017
  • Change Healthcare Introduces Enterprise Blockchain For Healthcare – September 29, 2017
  • Helperbit enables Bank Card donations with Blockchain traceability – September 29, 2017
  • South Korea Bans Initial Coin Offerings – Plans to Crack Down on Trading – September 29, 2017
  • Australian Regulators Vow to Work with Industry for ICOs – September 29, 2017
  • ICO Market Transformed by ATS Security Token Joint Venture Forged by tZERO, RenGen and the Argon Group – September 27, 2017
  • Backed by the Founder of Mozilla and CEO of Brave, SPiCE VC Is Launching A Fully Regulated Blockchain VC – September 27, 2017
  • Spectral And Alliander Launch Blockchain-based Renewable Energy Sharing Token – September 27, 2017

View All Articles

advertisement