SGPAY - Combining Virtual Currency and Fiat Become a Smooth Wallet Experience

Maret 07, 2018

https://www.sgpay.org/

INTRODUCTION

SGPay Token is built on the Ethereal blockade that complies with the ERC-20 standard. The SGPay Token (or SGP in short) was built as a sign of utility for use on our main SGPay platform. These will be adopted by our technology partners and affiliate merchants.

SGPay's main platform is a third-generation mobile e-wallet and e-payment application that allows users to buy and sell cryptocurrencies, or make purchases using cryptocurrency and fiat currencies. The team's goal is to make SGPay a leading e-wallet and e-payment mobile application for everyone living in Singapore and the region. Customers will be able to pay for their purchases, buy movie tickets, book flights and more with SGPay. They can also choose their preferred payment mode, either in currency or cryptocurrency at selected merchants.

SGPay and its token help solve this problem and encourage crypto growth in Singapore and Asia. The main beneficiaries of this improvement were early adopters of cryptourrency.

First , SGPay is an e-wallet that allows users to buy and sell cryptocurrencies. It has an inbuilt incentive system that provides lower transaction costs to users who hold more SGPay tokens. SGPay will allow its users to make transactions using its token, and to pay for value-added services on the platform.

Second , the addition of SGPay to the payment ecosystem also gives users greater choice and diversity for payments in Singapore and Asia. There is a lower possibility of one e-wallet that gains monopoly power and imposes unfavorable requirements for the user.

Third, SGPay will advocate the use of cryptocurrency for regional payments. This creates a more familiar environment for users who already feel comfortable with e-payment applications. Now crypto is promoted and supported on popular payment apps, its use will increase by itself.

SGpay system

The development of SGPay system is already in progress. Following is an overview of the project planning breakup. With its expected completion by May 2018, we are planning to launch the initial version of the system by Jul 2018.

Phase I (2H 2017) – Prototype Stage

Prototyping different various user interfaces
Optimizing the best user experience for our application
Coding the wireframe for our platform
Seeking of various liquidity partners for our platform
Defining prototype functionality
Establish prototype objectives

Goal: To create a seamless, secure, yet expansive prototype that has the ability to add

much more functionality into the platform in future

Phase 2 (1H 2018) – Launch of Beta + Initial Release Version

Evaluate and refine prototype
Debugging and user-experience testing
Full systems development initiated
Full e-wallet functionality and support for 3 currencies
Incentive’ algorithm based on SGPay Token built-in

Goal: Launch of a bug-free, excellent mobile application with e-wallet functionality

built-in together with sufficient liquidity and transaction rewards based on the amount

of SGPay Tokens being held by each customer

Phase 3 (2H 2018) – Addition of Payments functionality

Launch of e-payments functionality
Support for debit/credit cards
Potential support for more locally developed tokens
Intensive Adoption Drive
Lay groundwork for creation of APIs for partner services

Goal: Addition of e-payments functionality such that the platform can reach out to a

the much bigger pool of people and to expedite the growth of our user base

Phase 4 (1H 2019) – Partner Services API

To partner with various technology providers to enhance the use cases of our
product
This will include insurance company tie-ups, mobile company tie-ups and
partnerships with other big firms in other sectors
This will open up whole new users to our wallet application and make it a truly

all-in-one platform

Review Token

SGPay Token is an ERC20 compatible token on the Ethereal blockchain. These are promoted and used in SGPay, related business platforms and partner merchant outlets. Token holders enjoy various incentives such as low transaction costs when purchasing or selling crypto on the SGPay platform.

Launch Summary

Token Name: SGPay Token [SGP]
Total Provide: Up to 13.8 million
Total General Supply: Up to 10 million
Pre-Contribution Period: 1 Feb to 14 February 2018
Pre-Contribution Offer: 2 million tokens @ US $ 0.40 each
Main Contribution Period: 1 Mar to 31 March 2018
Supply Main Contribution: 8 million tokens @ US $ 0.50 each
Soft Cap: US $ 0.8 million
Implied Market Cap: Up to US $ 4.8 million
Minimum Contribution: 1 ET
Maximum Contribution: 100 ETH
Accepted Currency: Ether (ETH)
KYC / Whitelisting: Yes

Token Properties

Initial Limited Public Supply up to 10.000.00
Fixed Supply Forever (No fluctuations)
Token utility on our platform. As adoption increases the token value increases as supply is limited.

Token Allocation

To date, a six figure sum has been spent on developmental & operational costs. Proceeds from the token event will be used to expand our operational capabilities over the next 5 years.