Populous Review: Token, Invoice and Trading Platform
There has been quite a buzz in the crypto space lately. There have been funded new blockchain projects while others are just being launched. Amidst these projects, catching the attention of investors is Populous.
What is Populous?
Populous is an invoice and trading platform that is built on Blockchain’s distributed Ledger technology. Based on the Ethereum Virtual Machine, the platform lets companies list their invoices and investors can fill them with their tokens and get interest on the invoices. Each time an invoice gets filled, a PPT token is given to the investor alongside with the interest that he has earned. That basically means that you earn more money and the tokens’ value grows when you just let them sit in your portfolio.
This altcoin was specifically designed for trading finance and invoicing, and it uses smart contracts; it makes use of XBRL data (eXtensible Business Reporting Language) and Z Score formula.
PPT and Pokens
The Populous platform uses two types of digital currencies: the Populous Platform Coin/Token (PPT) and Pokens. Each of these currencies has different roles in the Populous environment. PPT is the currency that is used to raise funds when ICO campaigns are being launched. There are currently 41.25 million PPTs in circulation, out of the limited supply of 53 million.
After a successful pre-ICO period which started on the 7th of June, and reaching a maximum cap for its crowdsale of 39,600 ETH, the Populous Platform Token was no longer available for sale before their official ICO sales even started.
— Populous World (@BitPopulous) June 10, 2017
The PPT tokens were available at a rate of 0.0011ETH per token (excluding bonuses, which were approximately $0.37 at that time).
PPT is the means through which an investor can access the Populous platform and a way through which he can exchange tokens and pay invoices. Poken is the currency of the Populous platform that deals with fiat currency. Pokens can be exchanged with fiat currency and they can also be exchanged with other popular alternative currencies like Bitcoin, Ethereum’s token, ether, and Litecoin. This means that Poken is an internal platform currency which is the only one that can be used to pay bills.
The exact value of the populous coin (PPT) to be released will be stated in a future announcement. These coins can’t be bought directly for fiat on any exchange.
How does Populous’ buyback mechanism work?
Well, it first acts as an indicator that the platform has made enough working capital to redeem the coins and to use part of the money as cash settlement. After this, there will be fewer coins available in circulation for the buyback, which facilitates transactions with the PPTs available in the platform, due to the network being less congested.
Should you invest in PPT?
Populous is an invoice finance platform which uses smart contracts built on Ethereum and RSK blockchains. Investing in PPT is definitely for those that want to make some earnings from the thriving invoice selling industry.