PumaPay

Overview

PumaPay was a blockchain-based payment protocol that aimed to facilitate cryptocurrency payments for merchants and customers. The project introduced the PullPayment Protocol, which attempted to enable recurring payments and subscriptions using cryptocurrency.

Purpose and Utility

The intended purpose was to provide a decentralized payment solution that could handle various payment scenarios including recurring billing, pay-per-use, and single payments. The project aimed to solve the reversibility issue in crypto payments and make cryptocurrency more practical for everyday use.

Current Status

As of 2023, PumaPay appears to be inactive. The project's official channels have been dormant since 2021, and there is minimal to no current development activity. The token has effectively ceased trading on major exchanges.

Business Model Analysis

The original business model was halal-compliant, focusing on payment processing without interest-bearing components. The protocol was designed to facilitate legitimate commerce and transactions.

Token Distribution and Development

The project initially had a clear token distribution plan with allocations for development, marketing, and ecosystem growth. However, the project's abandonment raises concerns about the execution of these plans.