Everyone knows that banking institutions in Africa and the Middle East are quite poorly developed. However, the population of these countries, of course, would like to get a convenient tool for financial transactions. The MenaPay project was created specifically to solve this problem – it is a payment application for mobile devices with support in Arabic.
The project plans to actively enter the markets of 18 countries, where 420 million potential users live. 75% of the total revenue of the platform will be distributed among the owners of MenaPay.
Perhaps the main advantage of the system is the promise that one system token (MenaCash) will always be equivalent to one US dollar. Full binding to the dollar exchange rate makes it a reliable tool for payments, settlements and storage. At the same time, MenaPay will be able to offer simple and convenient solutions with high-quality interfaces for the Arabic language. Unique SDKs, desktop and mobile wallets, an easy-to-use control panel for sellers will be developed and implemented.
What opportunities does the platform give us?
The project states that it creates an entirely new standard in the crypto industry. Within the framework of the project, there will be:
– transactions of P2P level (between participants directly);
– P2M (commercial payments);
– M2F (transactions between traders and funds);
– and mining will be available.
The name of the new currency is Mpay. In total, the system will have 400 million tokens, of which 256 million will be put up for sale. The price of the token during sales is $ 0.165 per unit. The lower fee is $ 5 million, the upper limit is $ 25 million. The project is registered in Dubai and is not banned anywhere. The exact dates of sales are still unknown, however, based on information in the roadmap, sales are planned for November.
How will all the tokens be distributed?
– 64% are put up for sale;
– 16% share of advisors and teams;
– 15% marketing bounty;
– 5% reserve of mining.
Use of Funds
- 40% marketing;
- 30% development and infrastructure;
- 15% operation and administration;
- 10% business development;
- 5% Legal.
Site and Documentation
The project web page is available in three world languages - English, Chinese and Arabic. The design is very beautiful, qualitatively elaborated. There are answers to all questions that may be of interest to the investor. All links work. In the lower right corner of the screen there is a mini-chat support. Also on the site there is a 2-page presentation document.
The project was not afraid to put all its employees on the network. The website lists 40 board members and 24 members of the working group, all of whom have links to profiles in Linkedin.
At the moment the project enjoys relatively good popularity among users and continues to actively develop its success. To date (August 19), in the official Telegram group – 15935 participants, Instagram – 2305, Facebook – 3685, Twitter – 15300, Youtube – 8536. Active blog is in Medium.
The campaign for the bounty of the programs allocated 500 thousand dollars. The campaign began on August 17, will be held for at least 8 weeks. Distribution of funds:
– 15% pool of Twitter;
– 10% allocated for support in the FB;
– 10% support pool in Telegrams;
– 25% of the blogosphere and media programs;
– 5% of the campaign of translators;
– 35% subscription campaigns.
The launch of the application, all systems is planned for September, and the main sales will be held later – in November. In January 2019, the merchant will be connected. In April, it is planned to launch face recognition technology for an additional level of transaction security. And, in May the project plans to reach 5 million users! In June, the overall market of the system should reach the level of $ 1 billion. In December, the company will launch P2P lending opportunities and include AI in the work.
The company is based in Dubai (UAE), one of the richest cities in the world. A large team of experienced specialists is working on its creation. It is too early to draw conclusions whether the company will succeed in achieving its goals, conducting sales will only take a few months. However, the high potential of the project is obvious.
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