Populous is an Ethereum token that powers the Populous blockchain. It describes itself as “a platform for buying and selling invoices globally.”
What Is Populous Token (PPT)?
Populous (PPT) is a platform that allows safe and secure cryptocurrency trading to users. The platform aims to offer secure financial transactions so that users are able to attain loans without facing hassles.
Applying for a business loan has been a difficult task for small and medium enterprises as the centralized banking institution requires time and several documents before issuing a loan to the user. Thus, Populous was developed to offer decentralized financial solutions to the users.
The platform uses smart contract features to initiate efficiency and reduced the risk of fraud in the system. Smart contracts are just like regular contracts however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.
There are three actors within the system that is the administrator, the borrower, and the investor. The administrator approves and manages the interest of clients and their accounts. The borrower trades their business invoice on the platform to attain an instant loan. The investors bid on the auctioned invoices listed by the borrower on the platform. The investors bid on the invoice through which an instant loan is provided to the borrower against their invoice. In return, at maturity, the value of the invoice is transferred to the investor’s wallet through Populous. However, both borrower and investor can operate on the platform once the KYC process is completed.
The platform also provides a feature named PopEX, which aims at offering Populous World Exchange to the users with no maker fee, advanced API (Application Programming Interface) and digital custody of the assets. PopEX aims to bring traditional finance and crypto trading under a single roof. The Populous Invoice Program (PIP) of trading invoices is also incorporated in the PopEX platform. Additionally, the ecosystem introduced PopDeFi as an open-source and non-custodial system enabling users to earn interest on deposits while borrowing crypto assets.
According to the whitepaper, PPT is the native utility token available on the platform. The token is based on ERC20 standards used by participants in attaining access to the auction and banking facility of Populous. Along with this, the platform also offers a Populous stable coin backed up by GBP (British Pound Sterling) which means one GBP is equivalent to one Populous GBP token. The network offers lower trading fees rewards to the users for holding the Populous tokens for the longer term.
