PayProtocol, a leading company in virtual asset payment innovation, announced on October 23 that it has released a new whitepaper encompassing the entire next-generation payment ecosystem, signaling the start of a full-scale innovation that aims to reshape the future payment market.
The new whitepaper comprehensively presents key strategies, including: ▲ the stablecoin and payment-dedicated blockchain “PayChain”; ▲ the payment financialization protocol “P2F (Pay-to-Finance)”; ▲ a global stablecoin settlement platform; and ▲ a revised burn model and distribution structure for Paycoin (PCI).
The most significant change is the operation of “PayChain,” a newly developed blockchain network specialized for payments. This blockchain is designed to include only the essential features required for payments, allowing users to utilize stablecoins such as US dollars and Korean won, or Paycoin (PCI), as payment fees without worrying about complex “gas fees” (transaction fees). As a result, Paycoin’s utility within the stablecoin market is expected to increase, making the payment process even more convenient.
In addition, PayChain is designed to meet regulatory requirements and ensure trust, creating a secure environment for both users and merchants. It also enables easy connectivity with other popular blockchains such as Ethereum, Base, and Arbitrum, laying the foundation for expanding the traditionally closed payment systems into a more open and transparent ecosystem.
This strategy aligns with trends in the global payment market. Major payment companies are strengthening their competitiveness through proprietary blockchain infrastructure, as seen with Stripe building a network of merchants across 46 countries using its own stablecoin and dedicated chain “Tempo,” and Circle expanding the USDC ecosystem via its own chain “Arc.” Similarly, PayChain seeks differentiation as an integrated payment system optimized for real-world use and open blockchain connectivity.
Furthermore, Paycoin has introduced a new model, “P2F (Pay-to-Finance),” which expands payments beyond simple monetary transactions into financial activities. This system automatically deposits assets entrusted by users at the time of payment into investment pools operated across multiple blockchains, generating returns that are distributed among the buyer, seller, and platform. In this way, payments evolve from mere consumption to financial activities that benefit all parties involved.
From a token economy perspective, the distribution structure of the existing Paycoin (PCI) has been significantly overhauled. The most notable change is the introduction of a fee-based automatic burn model. Fifty percent of transaction fees generated within the network are automatically burned, while the remaining 50% are returned to the foundation as resources for ecosystem operations. As usage increases, the circulating supply of PCI decreases, naturally creating a scarcity-based token economy.
Particularly noteworthy is that over the next two years, only 3.4% of the 844.71 million Paycoin (PCI) tokens held by the foundation will be unlocked and released to the market. This reflects a strong commitment to defending long-term value by effectively blocking the influx of new tokens while continuously burning tokens based on network usage.
Shin Jungwook, CEO of PayProtocol, stated, “This whitepaper is not just a technical roadmap, but a declaration that redefines the identity of Paycoin and sets a direction targeting the global market. Based on our real-world payment experience, we aim to create an integrated payment hub connecting Web2 and Web3, and to establish a global payment standard trusted by both traditional financial institutions and the crypto ecosystem.”
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