As a presale project, SpacePay has quickly amassed a huge community, owing to its creative and unique offering—a revolutionary payments software. With this new initiative, investors will potentially be able to pay for everything with crypto, but in a much easier, seamless manner than ever before.
Having raised over $775k already, the project addresses major gaps in the traditional as well as the crypto payment space right now, offering a solution that brings together the best of both worlds.
SpacePay’s Solutions to the Existing Payment Problems
Some of the main issues when it comes to payments, especially crypto payments, include the lack of widespread adoption. With only a limited number of people ready to use crypto payments, it may not make sense for businesses to even facilitate such a setup, which may require new systems and extra costs.
Even those which do manage to make this process easier usually have high costs and offer inefficient solutions, which is something that vendors may not like and wish to avoid. On the other hand, centralized payment systems have their own set of problems, where there may be security vulnerabilities, privacy concerns, and a lack of transparency for both parties.
Cryptocurrency payments, while they do sound exciting and like a better approach to payments, can be difficult to employ since they are assets with volatility and changing values.
SpacePay’s solution here is one of a kind, as it is a decentralized and simple payment protocol that can easily be embedded into existing card machines or other devices that support traditional payments as well. This would mean that each vendor, irrespective of their size of transactions, can simply add the software to their current infrastructure and start accepting payments in crypto as well.
This would be a super-scalable infrastructure model, with the compatibility of payments extending to more than 325 crypto wallets. It has a fraction of the cost of other contenders in the market, boasting about a 0.5% transaction fee only.
There is no hidden fee, and transparency can also be a big plus point here. With its completely free model for users and no integration cost for payment companies as well, the solution indeed brings a revolutionary concept into the current payment space.
The developers have also taken care to set up a volatility protection element, where merchants receive the agreed-upon fiat amount regardless of crypto fluctuations at the time of the transaction, automated by SpacePay.
What Does the Token Do?
The native token of SpacePay, SPY, will govern the entire ecosystem while also providing incentives to its holders to stay invested and contribute to the growth of the project. It holds multiple utilities and purposes extending from airdrops to early feature access. Here are the various utilities that the SPY token holders shall be able to enjoy:
- Early Access to Features: Every token holder will be due to receive earlier access to features. This will let them gain more value, as products and services provided by the platform in the future will also be accessible to the holders first, before becoming publicly available to everyone else who simply uses the platform without holding tokens.
- Voting Power: As with any other decentralized entity, SpacePay will also require a governance system, and the SPY token will be the central point for this system. Holders will be able to vote once a month on crucial proposals, which can impact various aspects of the platform. This could be token-related decisions, new features, and even new initiatives that SpacePay may want to bring about in the future.
- Loyalty Airdrops: Simply participating in the SpacePay platform will make investors eligible to win monthly loyalty airdrops. This will be ranked and rewarded based on the activity of individual wallet holders who regularly use the platform for making transactions.
- Revenue Share: The token holders will be able to enjoy a part of the platform’s total revenue in passive income form, depending on the number of tokens they hold. This would act as an incentive for investors to buy more, which would be a win-win scenario for both the project and investors.
- Charitable Donations: SPY token holders will be able to donate to various pre-selected charities using the SPY tokens. This may not seem like much, but the developers make it an exciting deal by promising that they will allocate a part of the revenue towards matching the donations made by the investors. This would help investors as well as the project aim toward contributing to some positive social change.
- Quarterly Connect Webinars: SPY token holders will be able to directly interact with the leadership team at SpacePay. These will be 45-minute sessions, where they will be able to get firsthand insight about the potential growth of the project and the future updates that users will need to know about.
Tokenomics and Presale Status
Strategic tokenomics is essential to ensure that the project’s long-term growth is guaranteed. The total token supply of SPY is 34 billion, which has been allocated smartly. 20% of the token supply is set aside for the public sale, while 17% shall be set aside for user rewards and loyalty. 10% is allocated toward development, with other allocations being 5% for founders, 16% for strategic partnerships and ecosystem, 18% for marketing and community building, and the remaining 12% for reserve funds.
At the time of writing, the SPY presale has managed to raise more than $774k already, as an ERC-20 token. It can be purchased using ETH, USDC, USDT, or via card payments. Given the high popularity of the token and the growing community, it has managed to be featured on multiple online news portals and crypto publications as well, solidifying its place as a leading presale.
How to Buy SPY Tokens
As SPY tokens are still in their presale stage, they can only be purchased via the official website page. For those who do not have experience purchasing tokens from the presale, here is a step-by-step breakdown of the process to buy SPY tokens:
Step 1: Set Up Your Wallet
To start, link your preferred crypto wallet, like MetaMask, to the platform. You’ll find the connection widget at the top of the official website’s homepage. Once your wallet is connected, you’ll gain access to the purchase feature, enabling you to buy $SPY using ETH, BNB, MATIC, USDT, USDC, AVAX, BASE, or even your bank card.
Step 2: Make the Payment
Before proceeding, check that your wallet is loaded with one of the accepted cryptocurrencies—ETH, BNB, MATIC, AVAX, BASE, USDC, or USDT. If not, you can deposit funds into your wallet. If you wish not to use crypto, you can choose the card payment method to fund your purchase easily.
Step 3: Exchange Crypto for SPY
Head to the buying section on the platform. Enter the amount of SPY tokens you wish to acquire and follow the prompts to confirm the transaction through your wallet. Remember to keep a small balance of cryptocurrency on hand to cover any associated transaction fees.
The tokens shall be purchased successfully and deposited to the wallet upon the completion of the presale.
SpacePay’s presale growth is quite evident from its strong and active social media following. With the bullish market sentiments and a strong use case that could be adopted seamlessly, the SpacePay project could be a trending crypto in the coming months.
To learn more about the project, follow official SpacePay social media channels on Twitter and Telegram.