PumaPay has announced the upcoming launch of V3.0, as the company looks to make history as the first crypto payment solution to migrate from Ethereum to the increasingly popular Binance Smart Chain, otherwise known as BSC. The move is in line with the company’s goal of delivering the best possible experience to crypto enthusiasts in different parts of the world, as it will ensure faster and more seamless transactions while enhancing community involvement.
“We are excited for the new V3.0 vision, our move to Binance Smart Chain, and the latest upgrades that we can offer to merchants who use our payment solution,” says Yoav Dror, CEO of PumaPay. “With our new liquidity pools, bridge, and decentralization model, we believe PumaPay is creating, as the first crypto payment solution on BSC, a model system for others to follow should they opt to shift from Ethereum to Binance.”
The advent of blockchain technology and the emergence of a wide range of solutions have undoubtedly disrupted several industries. The financial system seems to have been particularly hit by the innovations from the technology and its inherent features. Several payment solutions have been developed in recent times as more people and businesses look to leverage the exciting features and benefits of the technology. Unfortunately, many of such solutions do not particularly address the concerns of users in terms of comprehensiveness, user-friendliness, and relative affordability. However, the team at PumaPay is looking to make a difference, with the plan to move from Ethereum to the Binance Smart Chain further substantiating this claim.
Challenges Necessitating The Move To BSC
Ethereum remains an industry-leading blockchain platform. However, it has become increasingly difficult for developers across the globe to scale the platform and its solutions, with soaring gas fees and a slow block processing rate further scaring away users.
The brains behind PumaPay are consequently looking to shift to BSC as part of their expansion plans to boost payment flexibility and protocols, build liquidity, and maintain the original vision of decentralization. The move will include the introduction of a bridge between the two networks to enable the utilization of a wider set of tokens and cryptocurrencies for payments while opening new liquidity pools with automatic swaps.
Benefits of the Migration
PumaPay’s V3.0 will run on BSC, offering a plethora of new opportunities to customers and users. Other benefits of the upcoming launch are briefly highlighted as follows:
- Wider token diversity: the use of the PumaPay token (PMA) will enable merchants to select their desired settlement currency for each billing model, with users having the option to subscribe with various tokens that are supported by BSC.
- Liquidity pools: the soon-to-be-introduced liquidity pools will enable swaps between PMA and other digital currencies, with liquidity providers enjoying swap fees.
- Total decentralization: Users will enjoy a more decentralized crypto payment ecosystem, allowing merchants to run executor nodes, helping them to save on fees and earn for processing other merchants’ transactions.
- Community 3.0: V3.0 will include bottom-up measures that will enhance community participation in promoting the project with ambassadorship and referral opportunities.
More information about PumaPay can be found on the Pumapay.io website across social media, including Facebook, Twitter, and LinkedIn.
PumaPay is an advanced billing solution for businesses consisting of flexible crypto-payment scenarios facilitated by the project’s PumaPay (PMA) token. The platform operates on a free open-source blockchain-based protocol, decentralizing a whole layer of transaction processing services to offer a solution that is ready for adoption by businesses that want to reach a wider customer base of crypto holders.