What is Pawtocol?
Pawtocol is a multi-functional platform that values transparency, traceability, and crowdsourced verification to serve pet owners with unbiased health-related recommendations. It aims for seamless integration into the average pet owner's daily life, to reduce the cost of ownership, make care decisions easier and improve the lives of pet owners and pets.
Advanced AI learning and IoT-connected devices play a huge part in this project. AI is enhancing care and diet recommendations of service providers, toys, food, and products. Besides, Pawtocol’s data collection enables the creation of a pet industry standard language that may be used for pet health-related studies and multiple focused APIs.
Blockchain-based incentivization structure is what powers Pawtocol. The collection and feeding of data to Pawtocol’s AI allow users to earn rewards. Also, businesses are rewarded by showing their services and products to new customers as targeted in-app recommendations.
Moreover, pet wearable devices need a united ecosystem for simplification of the pet owner user experience. The project aims to deliver a system that allows users to connect multiple devices and stay updated on various pet technology and IoT devices on a single interface.
Use Cases of UPI Tokens
Pawtocol coin was named Universal Pet Income (UPI) and it was created to serve as the base of the Pawtocol platform, giving the users access to its discounts, products, and services. It also serves as a unit of measure for price signals in the market in the form of UPI price. Used mainly as a currency, it smooths out the process and makes transactions safe, easy, and instant.
Pawtocol tokens can be earned as an incentive through participation in special programs. Moreover, a pet owner can obtain UPI in exchange for specific information, such as data regarding a pet of a specified breed eating a certain type of food. The entity interested in conducting research can specify questions qualifying pets, products, and requested well-being data, then pay for that in UPI price. Pet owners in exchange for the reward would have to provide proof of the pet’s breed, purchase of products, and the data. Though the platform guarantees that everything is conducted securely, anonymously, and transparently.
Tokenomics of UPI
The maximum supply of UPI tokens is 1 billion. 100 million tokens have been released for the rapid building of a user base at launch. These were split half/half between IoT-embedded rewards and marketing goals, such as affiliates' and influencers' compensation for successful registration of users. Then, more than 40% of the tokens were reserved for the team, and the Pawtocol reserve, for developing the project and community.
Besides, to keep the UPI price relatively stable, the platform uses a burning mechanism. There is a 1.5% transaction fee on Pawtocol. 75% of the fee accrues to the platform while 25% gets burned. Burning is planned to be stopped when 50% of the initial supply is destroyed.
Who Founded Pawtocol?
The Pawtocol crypto project was founded in 2018 by Karim Quazzani. He describes himself as an experienced tech visionary and platform architect with the ability of early trend recognition. Karim specialized in social and environmental technologies.
The project possesses a strong, multidisciplinary team with years of experience and the goal of bringing the pet industry into a new era of transparency and decentralization. It is currently led by Colin Jordan, who specializes in scaling start-ups by combining his entrepreneurial and technological skills.
Don’t forget to check the real-time Pawtocol price chart above if you plan to purchase any UPI tokens.
