What is PolyTrade (TRADE)? Get invoices paid quickly =

PolyTrade (TRADE) wants to change the future of our financial world. They do that with their DeFi platform. On this platform they offer a system that can pay invoices directly, fully automatically with stablecoins. In this way, you, as a party sending an invoice, no longer have to wait weeks or months for the invoice to be paid. PolyTrade ensures that you receive your money immediately.

It should be clear that PolyTrade wants to solve quite a big problem. A problem that cannot be solved easily. Nevertheless, PolyTrade succeeded. Let’s take a look at what PolyTrade is, how it works and why it is such an interesting crypto project .

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  • View quickly
  • What is PolyTrade (TRADE)?
    • Invoice tokenization
    • Paying invoices with yield farming
    • Verification of users and creditworthiness
    • Investing in companies
  • Who developed PolyTrade?
  • Partners and investors
  • How does PolyTrade work?
  • TRADE tokens
  • The pros and cons of PolyTrade
    • Advantages
    • Cons
  • How and where can you buy PolyTrade (TRADE)?
  • Conclusion

What is PolyTrade (TRADE)?

PolyTrade can be seen as a bridge between DeFi (Decentralized Finance) and TradFi (Trading Finance). Do you have a business? Then unfortunately you have had to deal with people who pay their invoices too late or not at all . Even if you don’t have a business, you can probably imagine this problem occurring. Now business owners could use PolyTrade.

Invoice tokenization

PolyTrade’s platform allows businesses to tokenize invoices . This means that they convert their invoice to a unique token that runs on the blockchain. In this case, non-fungible tokens, or NFTs, are used. These are tokens that can be distinguished from each other because they have a unique character property.

NFTs are ideal for tokenizing these invoices. This is because each invoice is unique and should be treated as a separate case . By tokenizing an invoice, a real-world invoice can be converted to an on-chain invoice.

Paying invoices with yield farming

As a paying party, you can go along with the selling party when it wants to go to PolyTrade (or vice versa). As a purchasing party, you can build up a credit with PolyTrade . In this way it is not necessary to pay an invoice immediately, but you can leave it open. However, the selling party will immediately receive his money. This money comes from PolyTrade’s liquidity pool.

Users can provide liquidity to the liquidity pool to pay vendor invoices directly . As rewards, these liquidity providers receive interest in the form of stablecoins and TRADE tokens. TRADE is thus a reward token for anyone using PolyTrade .

If you want to earn a return on your crypto, PolyTrade is therefore an ideal platform. How high the interest is varies per moment and per invoice.

Verification of users and creditworthiness

To build up credit, you must first secure collateral. The creditworthiness of a purchasing party can also be checked by members of the community. They receive rewards in the form of TRADE tokens when they take on such tasks. Because a check is carried out, all parties involved run less risk.

Investing in companies

Crypto traders are actually given the opportunity to invest in real-world assets at PolyTrade . When you want to start a business, you obviously need money. Unfortunately, it is difficult to collect money. That is why PolyTrade wants to help these types of start-ups to get off the ground.

When companies are given the leeway to pay their invoices at a later stage, they can invest more money in building their business . This ensures that companies can develop themselves faster and more easily. At the same time, the users who lend crypto do not have to worry about their investment because collateral is secured.

Below you can see a video from Hashoshi, who explains in a fairly simple and clear way what PolyTrade is and how this project works.

 

Who developed PolyTrade?

Piyush Gupta is the sole founder and CEO of PolyTrade. This is not Piyush’s first business as he has been an entrepreneur and investor for many years. In the past, Piyush has raised more than $500 million for its clients.

Arul Prakash is COO and has worked at Tata Digital and Principal in the past. Ashutosh Sahoo is Chief Growth Officer and has more than 15 years of experience in the world of marketing, real estate and IT.

They are in charge, but of course they don’t do it all alone. The team behind PolyTrade consists of a large number of other employees:

  • Sankalp Kumar (BD Asia)
  • Thierry Lassy-Taty (Credit Head)
  • Adam Boudjemaa (Lead Blockchain Developer)
  • Sayali Pandey (Treasury & Finance)
  • Aditi Saini (Marketing & Communications)
  • Pop Daniel (Product Designer)
  • Prusela Bhowmick (PR Manager)
  • Ashish Sood (Product Manager)
  • Tara Anna Mathhews (Full Stack Developer)

Below you can see an interview (only 3 minutes) with the founder and CEO of PolyTrade, Piyush Gupta.

 

Partners and investors

We see that PolyTrade has entered into several partnerships in recent years . Some of these partners are extremely interesting. These include Certik, Immune Bytes, Parsiq, Polygon, Biconomy, Transak, AHRVO, Fractal, Venly, WalletConnect, and MetaMask, among others. These partners support PolyTrade in different ways.

Then there are also a number of large parties that have invested in PolyTrade. They believe in the future of this project and on that basis have decided to make a financial contribution to PolyTrade. To the most important investors include Dfyn, Ethdesign Capital, AXIA8, AU21 Capital, Icetea Labs, Krypital Group, Master Ventures, LD Capital, M6, Orion, Polygon, Router, Rok Capital, Shima Capital, Spark Digital Capital and HG Ventures.

How does PolyTrade work?

Below you can see an illustration of how PolyTrade actually works . On the right we see the liquidity providers that lend stablecoins. Companies can post their invoices on PolyTrade and are paid with stablecoins. The purchasing party pays the invoice to the liquidity pool with stablecoins.

 

TRADE tokens

TRADE is PolyTrade’s token, which has a maximum supply of 100 billion. Not all tokens have been issued at this time. At the time of writing, September 2022, only 12% has been spent. This means that there are about 12 billion tokens in circulation. But what are these TRADE tokens good for?

  • Governance features – TRADE allows you to vote on what the future of the platform should look like. This means that not only the platform itself, but also the board, works completely decentralized.
  • Earning staking rewards – When you lend crypto to the pool, you will not only receive rewards in the form of stablecoins, but you will also receive TRADE tokens. This makes PolyTrade an ideal platform for yield farming.
  • Lower costs – When you borrow money and want to pay the invoice, you pay lower costs when you make the payment with TRADE tokens. Even when you place an invoice on PolyTrade, you can pay the costs with TRADE tokens to receive an extra discount.
  • Reward for performing tasks – It is possible to earn TRADE tokens when you perform important tasks for the platform. This includes validating documents, checking creditworthiness and performing KYC (Know Your Customer) tasks.

The pros and cons of PolyTrade

Now that you’ve read what PolyTrade is and how it works, you might have an idea of the main benefits of this project. To briefly summarize what PolyTrade is, we will list the most important advantages and disadvantages of PolyTrade for you.

Advantages

  • It is possible to upload every invoice on PolyTrade. There is therefore no minimum value , making PolyTrade a solution for both large and small companies. This makes PolyTrade widely applicable within the market.
  • Low costs are charged on the platform , so that there is no financial barrier for companies.
  • The platform can quickly process invoices and transactions . This ensures that companies can be helped quickly and investors can use the platform efficiently.
  • Investors will have the opportunity to invest in invoices, completely digitally . Everything is done through smart contracts, so there is no need to set up a lot of paperwork.
  • The invoices are insured and covered , so that you as an investor run a small to no risk.
  • The platform runs on the blockchain and is secured by the decentralized network and cryptography . This ensures that data and crypto of users, provided they keep their private keys properly, cannot be leaked.

Cons

  • As an investor or user, you always run the risk of losing your stake , because everything works on smart contracts. These are digital contracts that run fully automatically on the blockchain’s decentralized network. There is always a chance that something will go wrong with the smart contract. In that case you have nowhere to go, because everything is decentralized.
  • PolyTrade is still new and not widely used . This means that the project still has to prove itself. Although the project seems to be strong at first sight, in reality it is still questionable whether the project will get off the ground and catch on.
  • Difficult to understand . It is difficult to understand how PolyTrade works. This does not necessarily have to be a bad thing for you, but it can be detrimental to potential users. Companies will not start using the platform if it takes them a long time or a lot of effort to understand how the platform works. That is why it is extra important for PolyTrade to explain the operation and services they provide in the simplest possible way.

How and where can you buy PolyTrade (TRADE)?

Do you want to buy PolyTrade (TRADE)? You can do that at Gate.io, MEXC Global, KuCoin, BitFinex, CoinDCX, BitMart, PancakeSwap, UniSwap and QuickSwap.

  1. Sign up at the crypto exchange you want to use. Click on the exchange above to go directly to the registration page.
  2. Login to your account
    Please note: keep your username and password safe!
  3. Make sure you have enough money in your account
  4. Look for PolyTrade (TRADE) in the crypto list
  5. Then choose the order you want to place and indicate how many TRADE tokens you want to buy
  6. Place the order
  7. Congratulations ! You are in possession of TRADE tokens!

We have come to the end of the article. Do you still need an extra video that explains how PolyTrade works using illustrations? Then the video below is suitable for you.

 

Conclusion

PolyTrade is an interesting project with a unique take on invoice payment . Businesses both large and small can have a lot of problems with customers not paying their invoices. Now it is possible to tokenize the invoice on the PolyTrade platform. Investors then have the option to provide tokens, with which invoices can be paid. If they do, they receive interest (in the form of stablecoins) and TRADE tokens as a reward.

This makes PolyTrade not only a suitable platform for paying invoices. This also makes PolyTrade suitable for yield farming , which more and more crypto traders are using.

Although PolyTrade seems to be a promising project, we should not forget that the platform is new and has yet to prove itself. It runs completely decentralized, which can cause problems.

If you want to invest in PolyTrade, you can go to Gate.io, MEXC Global, KuCoin, BitFinex, CoinDCX, BitMart, PancakeSwap, UniSwap and QuickSwap.

Are you looking for more information or do you have any questions about PolyTrade or other cryptocurrencies? Or would you like to meet other crypto enthusiasts? In the free Discord channels of our product Money Mastery from AllesOverCrypto you can ask questions and talk to thousands of other crypto enthusiasts. Do you have other crypto related questions? The easiest way is to look up your question in our FAQ. What you can also do is that you google your question + AllesOverCrypto. Please let us know what you think about PolyTrade.

 

 

 

 

 

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