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Summary of LeisurePay (LPY)
Overview
- Decentralized closed-loop blockchain payment and merchant account ecosystem
- Powered by a wholly-owned black FDIC-insured bank and the first black acquirer in USA History
LPY Token
- Native utility token used for:
- Fees for processing transactions
- Running validator nodes on the network
- Governance votes for LPY network chargebacks
- 10 billion LPY tokens created at launch on August 24, 2021
- Available for trading on Probit Global Exchange with
About LeisurePay: Empowering a New Era of Entertainment and Lifestyle
Introducing LeisurePay (LPY): A Revolutionary Payment Solution
LPY Protocol is a pioneering decentralized closed-loop blockchain payment and merchant account ecosystem, empowered by the singular distinction of being backed by the only wholly-owned black FDIC-insured bank and the first black acquirer in the history of the United States. Our innovative platform seamlessly integrates blockchain and tokenization solutions, catering to merchants seeking swift, secure, and efficient payment solutions. Underpinned by our proprietary token LPY, we are committed to bridging the financial inclusion gap by providing minority-owned merchants with access to low-cost and no-cost banking and payment solutions.
LPY is the native utility token, serving as the cornerstone of our ecosystem, and is utilized for:
- Transaction processing fees.
- Operating validator nodes within the network.
- Utilized for governance votes, influencing LPY network chargeback determinations.
Our comprehensive LPY toolkit encompasses:
- Merchant chargebacks and refunds are seamlessly integrated with the Binance Smart Chain, leveraging RCC, ECI, and credit card processing to resolve disputes efficiently.
- Leisure Pay transactions are verifiable on both the consumer’s bank statement and the blockchain, providing direct access for consumers to query transactions.
- The LPY process offers a post-return method for consumers who pay using their bank account via Check/RCC/RDC/RCC/ECI or digitally created checks.
- The decentralized dispute system harnesses the power of the BNB smart chain to ensure full transparency of disputed payments within the bank. LPY token reserves are backed by smart contracts, which facilitate an open dispute resolution center.
- Through its decentralized smart contract protocol, built on the Binance Smart Chain, LeisurePay provides a user-friendly portal where customers can log in to request refunds or dispute charges. Each customer is assigned a unique ID, enabling a trust scoring system. In the event of fraud, the consumer’s score will be correspondingly adjusted. The LPY open Dispute Resolution Center empowers consumers with a 20% vote weighting, merchants with 20%, and banks with 60%. The bank’s vote is determined by six validators, each holding 10% of the assigned weight. These validators, selected from a qualified and experienced roster of claims assessors, earn a fee for each case worked.
What Is the Total Supply of LPY Tokens in Circulation?
On August 24, 2021, the LPY Protocol was officially launched, accompanied by the genesis of 10 billion LPY tokens.
Where to Acquire LeisurePay Token (LPY)?
LPY has officially debuted on Probit Global Exchange, marking its inaugural Initial Exchange Offering (IEO), with trading pairs available in both cryptocurrency and USDT.