PAYFAIR
What is PayFair.io?
PayFair.io is a decentralised Escrow platform and is designed to allow its customers a safe, private and decentralised environment to trade, providing a trust-less experience. Think localbitcoin without the limitations of only Bitcoin to trade with! Trading is live across a wide selection of Crypto to FIAT pairs. Visit us here https://payfair.io/.
PayFair.io Fees
Every fee on the PAYFAIR platform will be distributed as follows:
Non-escrow deal (No dispute)
1% fee, without taking into account contractor rating
Trust-node — 80%
Marketing, supporting ecosystem — 20%
Escrow deal (A dispute has occurred)
1.5% fee, without taking into account contractor rating
Trust-node — 1%
Escrow-node who made the decision — 99%
PFR Tokens and Nodes
PFR tokens are an essential part of the ecosystem. Tokens create Escrow nodes to enable the decentralised escrow system for resolving disputes and Trust nodes to support the price of the token, making it stable and resistant to dramatic changes.
What are Trust Nodes?
Trust-nodes are awarded for their passive participation in the system. They receive a commission for every successful trade on the platform of which is paid out in the currency that each trade was completed in.
The trust node is a critical element within the network and performs the important job of maintaining, updating, and securing the PayFair ecosystem. Trust Nodes support the price of the token, making it stable and resistant to dramatic changes.
To setup a trust node you will need 10,000 PFR minimum. Trust nodes are weighted meaning additional PFR over 10,000 will multiply the payout value. For example: 17,000 PFR = 1.7x payout.
The advantage of Trust Nodes over other master nodes is that there are no hardware requirements or 24/7 online time. You simply use the signing feature within myetherwallet to link your PFR wallet with the PayFair platform, then sit back and enjoy your passive income.
80% of the 1% Fee taken from Non-Escrow transaction are distributed back to Trust Node holders.
40% of the 3% Escrow transaction fees are distributed back to Trust Node holders.
What are Escrow Nodes?
Escrow-nodes are rewarded for their active participation in the system. They receive a commission for each successful trade they have participated in of which is paid out in the currency that the trade was completed in.
Escrow-nodes ensure the integrity of a trade between parties (buyer and seller). Escrow (or Guarantor) nodes are secured by PFR tokens, meaning every decision in the ecosystem is ensured by value and is performed by a real person. When this is combined with an Escrow rating system it further supports its ability to rid the platform of bad actors.
Current masternode systems do not allow participants to connect in any meaningful human-to-human way. PayFair’s “Smart Wallet” technology will allow Escrow node holders to easily connect and communicate with other Escrow node holders (unless they wish to stay anonymous.) This new type of networking gives the PFR token a clear advantage over similar coins because Escrow node holders can more easily organise themselves because they know who each other are.
Escrow Nodes are an immutable $250 worth of PFR, operating an Escrow node will require active participation within the platform. This participation comes in the way of resolving disputes between buyers and seller based on the information provided.
PayFair has a self-regulating system that allows it to work. This system includes the independent trust node and trust nodes. The trust nodes own the PFR token, which is located in the heart of the ecosystem. The PFR token ensures that trades on the platform are insured with PFR tokens at stake. PayFair charges a small fee to keep it running and also distributes a percentage of that fee to trustee nodes each month. In this way, PFR holders earn a profit by holding tokens. PayFair is a new decentralized trust platform and peer-to-peer cryptocurrency exchange for the purchase of popular cryptocurrencies such as Bitcoin, Ethereum and Bitcoin Cash as well as many other coins , The platform provides security for cryptocurrency transactions between those, who do not know each other. The platform charges low fees and uses its own PayFair Tokens (PFR) as an important part of the ecosystem.
You can search directly on the PayFair homepage for a purchase or sale offer. Either choose one of the five cryptocurrencies in tabs as the default option or click on "more cryptocurrency" to find another one. Once you click on the crypto-currency of your choice, you will see filter options with listings directly below. Options to buy are on the left with options to sell on the right. Once you find a trade offer, you can open trading with the buyer or seller. Take the time to read the Terms of Trade, and if you agree, click "Accept Terms of Trade." The Trust on PayFair only applies to transactions where both parties have accepted the terms of trade, and the Platform warns against Send money before This happens. The person selling the cryptocurrency will transfer your money to the PayFair escrow service. Once the buyer sees a notification that the funds are in trust, you can send your fiat (or cryptocurrency) to the other party. Confirm that the seller has received the fiat (or the cryptocurrency) and upload it if necessary. At this point, the seller can release the funds. The PayFair token (PFR) is an ERC-20 token that uses the Ethereum blockchain as its basis used. The token is designed to create trust nodes and provide a secure environment for transactions. that the funds are in trust, you can send your fiat (or cryptocurrency) to the other party. Confirm that the seller has received the fiat (or the cryptocurrency) and upload it if necessary. At this point, the seller can release the funds. The PayFair token (PFR) is an ERC-20 token that uses the Ethereum blockchain as its basis used. The token is designed to create trust nodes and provide a secure environment for transactions. that the funds are in trust, you can send your fiat (or cryptocurrency) to the other party. Confirm that the seller has received the fiat (or the cryptocurrency) and upload it if necessary. At this point, the seller can release the funds. The PayFair token (PFR) is an ERC-20 token that uses the Ethereum blockchain as its basis used. The token is designed to create trust nodes and provide a secure environment for transactions.
PayFair's low fees go towards ensuring that all transactions remain private and secure. Non-fiduciary businesses have a fee of 1 percent, while fiduciary businesses have 1.5 percent fees, both of which are before consideration of the contractor's rating. In the case of non-trust businesses, 80 percent of the fee goes to trust nodes and 20 percent goes to ecosystem and marketing support. In the case of trust shops, 99 percent of the fee goes to the trust node that made the decision. Before setting up a trust node, a user must have at least 10,000 PFRs. It is important to note that trust nodes are weighted, which means that all tokens over 10,000 multiply the value of a payoff. So, someone with 11,000 PFR would have a 1. 1 x payout. Unlike master nodes in other ecosystems, PayFair trust nodes do not require 24/7 online time or hardware requirements. Instead, you only need to link the PFR wallet to the platform.
Trust node holders are rewarded for passive participation in the ecosystem. For each fee paid, trustee node holders receive a percentage of it split among themselves, paid in the same currency as the trade.
To set up a trust node, you must first go to the PayFair website and create a trust account. You can reuse the e-mail address you used to create your regular customer account or even a trust account. You will then need to go to your email and click on the confirmation link in the message from PayFair. Trustee nodes must have PFRs worth $ 250, and those who operate trust nodes are active participants. They resolve disputes that occur between sellers and buyers with information provided. It is important to note that PayFair temporarily changed the required tokens for a trust node to 3,000 PFR as a result of the recent crypto-crash.
If a trusted node receives a notification that it needs to settle a dispute, the user will go back and view the trade logs. You can then use this information to see which party is honest. You also have the option of requesting additional information or evidence before making a decision. For an official result, three consecutive decisions must be identical. After a decision, users rate trust nodes. Fiduciary nodes with higher ratings are more likely to get additional disputes, resulting in a higher income. In return, trustee node holders receive 99 percent of the fee from the trusts, paid in the currency of the trade. Solve this by clicking on "Wallet" in the top right corner of the page, then " Show Wallet. "Click on the PFR tab to display the unique PFR deposit address on your PayFair account displayed under" pfr deposit "." Copy and paste this address to Send the required PFR tokens from the wallet you are currently in to your PayFair account. You must repeat the process to send a small amount of ETH for gas, at least 0.005 ETH. Just click on "ETH" on the balance page to get the correct address. to send the required PFR tokens from the wallet you are currently in to your PayFair account. You must repeat the process to send a small amount of ETH for gas, at least 0.005 ETH. Just click on "ETH" on the balance page to get the correct address. to send the required PFR tokens from the wallet you are currently in to your PayFair account. You must repeat the process to send a small amount of ETH for gas, at least 0.005 ETH. Just click on "ETH" on the balance page to get the correct address.
After a short delay, both your ETH and your PFR should appear in your wallet. The platform can not display your PFR until you send the ETH, so remember. As soon as you deposit enough tokens, you will begin to get a lot of disputes. Keep in mind that these happen to be in real-time, so there is no way to know when to get a fight.
Imagine a situation that you, having a certain capital, wanted to invest some of your money in cryptocurrency, so to speak, to buy some coins in your investment portfolio. First of all, you have a question, what coins to buy and, most importantly, what is the best and safest way to do this? Of course, there are various ways to buy cryptocurrencies, but basically all these methods and platforms for buying are centralized.
Sellers and buyers are wary and distrustful of each other, thus creating a problematic situation in which there is no opportunity to find a compromise. At the same time, various types of platforms overstate the commission for the transaction between the seller and the buyer. This is a serious barrier to attracting new potential customers and adversely affects the entire cryptocurrency sphere as a whole. It also often happens when controversial moments come that require immediate resolution, but due to unfair technical support, disputes are resolved after a rather long period of time. It also negatively affects the reputation of the exchange platform.
As a result of in-depth analysis of existing problems in this area, a team of highly qualified specialists has developed a reliable and secure service PayFair
This service is a decentralized platform, serving as a third party (guarantor) in the transaction between the buyer and seller. The platform will guarantee maximum security and transparency of all ongoing transactions.
Due to the existence of this service, people who have so far avoided investing in cryptocurrency will finally be able, without fear that they will be deceived, to buy tokens for their own purposes. This will have a positive impact on the entire industry, because the easier and easier to interact, the more people will be in this market.
It is important to note the fact that the service not only provides its customers with trading cryptocurrency, but also buy and sell various services, goods and other tangible goods.
Here is an explanation from me and to avoid all forms of fraud, please look for the correct information and reliably or visit the following link:
Official website: https://payfair.io/
Telegram channel: https://t.me/payfair
Twitter: https://twitter.com/payfairio
GitHub: https://github.com/payfairio/pf_demo
LinkedIn: https : //www.linkedin.com/company/payfairio/
Facebook: https://www.facebook.com/Payfairio/
Whitepaper: https://payfair.io/whitepapers/full_PF.pdf
Reddit: https: // www. reddit.com/r/Payfair/
Medium: https://medium.com/@PayFair/
Author by: Apri222
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PayFair
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