Paymon ICO: A Review

Paymon wants to create a platform for cryptocurrencies that will address most of the issues associated with the existing cryptocurrencies like the scaling problem, lousy architecture, low speed and high transaction fees. Paymon claims that their new blockchain called Hive will help to improve all the facets associated with blockchain like technology and infrastructure to regulatory compliance with current regulations. 
Paymon’s business platform, Profit, will cater to the needs of everyone from developers and basic users to commercial organizations and ICO projects. Paymon’s team has also come up with a blockchain messenger that not only allows its users to safely and efficiently send each messages but also allows them to exchange cryptocurrencies. Hence, Paymon is marketing this product as an excellent investment opportunity by means of its tokens. 
Some of the features of the Paymon platform include:
1) Decentralized token exchange of all types of blockchain
2) A system for creating smart contracts with readymade and pre-configured contents
3) API for developers
4) A security system for both developers and users
5) A user will be able to launch his/her token or cryptocurrency
6) A user will be able to conduct his/her own ICO
7) Escrow
8) Financial transactions and mobile payments
9) Voting and rating system
Paymon will allow users to undertake cryptocurrency transactions without any fees by using atomic swaps and internal smart contracts realized on Hive. They will be conducting their ICO in three phases. 
What Paymon intends to do is allow its customers to conveniently withdraw or deposit digital currencies by means of direct communication. They also aim to make the communication process between cryptocurrency holders and blockchain enthusiasts much easier. 
The developers of Paymon have been working on this project since 2016 and intuitive MVP Android, and iOS app has been launched in 2017. 
The first phase of the ICO had started on the 2nd of February and had been completed on the 5th of March. The platform is based on Ethereum, and the PMNT (Paymon tokens) are ERC-20 compliant. It has been stated that a total of 1,000,000,000 tokens will be issued. However, 150,000,000 tokens will be reserved for the company. The ICO was the first part of the token sale, and each PMNT token will be worth 0.015 USD for the 400 million available tokens. 
Fund Usage:
The funds raised will be used in the following manner:
20% for development, 40% for marketing and expansion, 20% for company development, 10% for the Paymon team, 5% for the licensure and legal support and 5% diversification and new areas. 
Paymon is operational in Russia.
The hard cap of the project is 10,000,000 USD while the soft cap is 10,000,00 USD. 
The team
Co-founder and CEO: Semyon Gleim
Lead Developer, Blockchain Specialist, Android, and IoS developer: Vladislav Markushin
Co-Founder, Lead developer, Blockchain Specialist: Konstantin Poskryobishev
For further details on the team, visit https://ico.paymon.org/#team.
Social media links:
Conclusion: This is a unique project with a lot of opportunities. It takes into account the problems faced by crypto traders all across the globe and tries to remedy them. However, there is a lot of competition in this field. We will have to wait and see whether Paymon can successfully deliver what they have promised. 
Previous ArticleNext Article