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For those of you SYS hodlers out there, today is a good day! Syscoin has just announced their first ICO: the CPS Coin. Not only is this the first ICO on the Syscoin blockchain, this is a CoinPayments project.
Since 2014, CoinPayments has been helping merchants accept cryptocurrency payments for their goods and services. They support over 125 different cryptocurrencies, and offer shopping cart plugins for platforms like WooCommerce, OpenCart, and Magento.
Why This is HUGE
So, airdrops and ICOs are cool and everything, but this is a BIG deal. If we put ourselves in the shoes of a merchant, and we wanted to accept cryptocurrencies, one of our big concerns would be real-time payment verification. Let’s be real, nobody wants a customer sitting at the counter waiting for the transaction to be confirmed – ain’t nobody got time for that!
Enter Syscoin’s Z-DAG “zero confirmation” transaction settlement technology. Essentially what I’m trying to say is “…for the first time, physical point-of-sale merchants can receive payments in a cryptocurrency instantaneously, without waiting for even a single confirmation block.” BOOM. EPIC.
According to the website, “On March 17, 2018 a snapshot of all CoinPayments accounts will be taken. Each of those accounts will receive 100 free CPS Coins and will also eligible for an additional 25 CPS Coins for each new user referred.
On June 1, 2018 a snapshot of all Syscoin wallet addresses linked to Syscoin aliases will be taken. 6% of the total CPS Coin supply will be distributed to each of these addresses, proportionate to the balance of Syscoin held at the time of the snapshot.”
The Private Presale is quoted as starting on February 28, 2018, while the Public Sale starts April 15, 2018. The starting price in February will be $0.05. There is a total Hard Cap of $61.5 million.
What is CPS?
Let’s look at the actual coin shall we? We’ve talked about Syscoin, Z-DAG, and CoinPayments, but not so much the actual ICO project itself.
By using the CPS coin, merchants will be able to provide their customers with a 50% less transaction fee, and merchants and users can exchange CPS coin for various other cryptocurrencies with a 50% reduction in transaction fees.
CPS coins can be staked to earn monthly staking rewards based on the length of time you HODL. The longer you HODL, the higher the reward becomes.
There is also a decentralized marketplace! The “CPS Marketplace leverages the Syscoin P2P network to offer 100% uptime, and lightweight web-based gateways through the CoinPayments web portal.”
Guys, you’ll want to check this project out! Get some SYS, sign up for an account on CoinPayments, and check out the whitepaper. CoinPayments already has over 724,000 vendors across 182 different countries using their current merchant services. What more do you want in an ICO?