PRELIMINARY

Globally, the world is faced with lots of financial transaction complexities which often results in lots of mishaps. Traditionally, financial institutions which include banks, credit cards, debit cards, and cash transfers faces lots of failures, security risks, and awkward transaction hiccups. Online shop owner’s and the use POS (point of sales) charges are exorbitant. The blockchain technology is known for its decentralized, transparent, secured and fast nature, transactions carried out by the blockchain can without any argument be doubted by any party ranging from the seller to the buyer because everything is clearly registered on the blockchain - time stamp, amount sent or received, and wallet addresses can be seen by the public. The blockchain technology is the most used invention in the world since its debut in 2008 up until today been the 29th day of October 2018. Digital assets were created to be used as a payment gateway when transacting to eradicate the traditional complexity we face today.

INTRODUCING MENAPAY NETWORK

MENAPAY network is a decentralized network which was invented to comply with the Islamic finance requirements, this innovation was created to be used as an online and offline mode of transaction. MENAPAY’s merchandise was built with exceptional Arabic user interface, unconventional data for users and merchants to eradicate the traditional use of FIAT (government issued currency) which can be cumbersome to carry around if it's in a large amount with an easily accessible digital asset (cryptocurrency). MENAPAY envisions to be the first cryptocurrency mainly used as a payment gateway in MENA region aiming 18 countries, 441 million people and will pay rapt attention to the Middle East and Africa. MENAPAY network consists of the merchants, individual users, reseller network, peer to peer transactions, peer to merchant transactions, and merchants to foundation transactions.

★ MERCHANTS: Enterprises who takes MENACASH in exchange of their service rendered are knowns as ‘merchants'. MENAPAY network offers a network where merchants can register with ease, where they can carry out their sales operations and also keep the record of their important sales data. However, merchants that prefer to use MENAPAY exclusively as a payment gateway (those who do not cash out) are termed as ‘standard merchants' and those who want to cash out must go through AML (anti-money laundering) process and are termed as ‘approved merchants'

★ INDIVIDUAL USERS: Users will be allowed to sign up and log in to their accounts in a well-designed fast on-boarding process with an easy to use interface for both newbies and masters of the crypto space. However, any user who exceeds the 100 MENACASH transaction volume must go through the KYC (know your customer) process. After a user downloads the mobile application from the App store or use the official MENAPAY WEBSITE and completes the sign up process with their phone number can use the network!

★ RESELLER NETWORK: This network allows users to purchase MENACASH with ease, they don’t need to purchase MENACASH only from MENAPAY foundation hence the name ‘resellers’. MENAPAY network believes that is very important for users to acquire MENACASH easily without hiccups and easily convert FIAT (government issued currency) into cryptocurrency (digital asset) in regions where FIAT is the standard mode of payment for purchased merchandise. Accepted enterprises customer portfolios will be enlarged once they join the reseller’s network.

★ P2P (PEER TO PEER TRANSACTIONS): P2P initiative is a fast payment system with transaction cost significantly reduced compared with traditional payment methods. This transaction it's between users and information like their phone numbers, email address, nickname, public key or QR code are demanded from the sending party after which MENAGATEWAY and MENAPAY network will approve the transaction.

★ P2M (PEER TO MERCHANT TRANSACTIONS): Customers dealings with merchants are executed with a distinctive transaction code whenever a customer purchases any merchandise from a merchant. The code holds details of the merchandise procured (price of goods and type of goods) and its seen as a QR code on the merchant’s screen. After the merchant scans the QR code in the customer’s application payment is initiated that is the customer debited and the merchant credited.

★ M2F (MERCHANTS TO FOUNDATION TRANSACTIONS): Approved merchants can swap MENACASH with FIAT effortlessly. Merchants can use their MENACASH to acquire merchandise for themselves or they can choose to join the approved merchant network and cash out from MENAPAY foundation where 1 MENACASH is equivalent to $1, the minimum MENACASH for cash out is 1000 MENACASH with a 5% commission rate collected by MENPAY foundation. equals

MENAPAY TOKEN (MPAY)

MPAY is a utility token built on the Ethereum smart contract (blockchain) which will be used to fuel the MENAPAY ecosystem. MENAPAY chose to use the decentralized Ethereum blockchain because it's easy to use, records transactions, a virtual machine that can create smart contracts, execute transactions within seconds, easily accessible to the public, and it's currently the most popular blockchain in the globe unlike the traditional model of executing transactions. 400,000,000 MPAY will be the maximum supply that will ever exist, all unsold tokens after the initial coin offering will be burned and no other token will ever be created, minted or mined to preserve the value of MPAY. MENAPAY network will reward token its holders by giving 75% of fee gotten from transaction fees to MPAY holders. MENAPAY token holders will be the core of the MENAPAY network eradicating traditional banking system in MENA with digital assets that will take over the district with Islamic complaint, transparent, and decentralized structure.

TOKEN DETAILS

TOKEN NAME: MENAPAY

TICKER: MPAY

TOTAL SUPPLY: 400,000,000 MPAY

NETWORK: ERC-20 COMPATIBLE (ETHEREUM)

SOFT CAP: $5,000,000

HARD CAP: $25,000,000

TOKENS AVAILABLE FOR PURCHASE: 256,000,000 MPAY

TOKEN PRICE DURING ICO: 1 MPAY = $0.165

ACCEPTED CRYPTOCURRENCY FOR PURCHASE: ETH, BTC, LTC, WAVES

ACCEPTED FIAT: USD, EURO, WON

TOKEN ALLOCATION

MINING RESERVE: 5%

BOUNTY & AIRDROPS: 10%

FOUNDERS & TEAM: 10%

ADVISORS % PARTNERSHIPS: 11%

PUBLIC CONTRIBUTORS: 64%

FUNDS ALLOCATION

LEGAL: 5%

BUSINESS DEVELOPMENT: 10%

OPERATION & ADMINISTRATION: 15%

DEVELOPMENT & INFRASTRUCTURE: 30%

MARKETING: 40%

ROADMAP

PARTNERS

★ ASLANOBA CAPITAL ★ ATLANTA WEALTH ★ BOGAZICI VENTURES

★ GEDIK INVESTMENTS ★ S4 MINING ★ PUMA PAY

CONTACT INFORMATION FOR NEWS & UPDATES

★ WEBSITE
★ WHITEPAPER
★ MEDIUM
★ INSTAGRAM
★ FACEBOOK
★ TELEGRAM
★ TWITTER
★ YOUTUBE
★ REDDIT
★ GITHUB
★ BITCOINTALK

ARTICLE PUBLISHED BY TIVERE AKPORODE

★ BOUNTY0X PROFILE: TIVERE