Papyrus (PPR) ICO Review – ICO Token News
Blockchain technology is rapidly changing the way applications are built and function on the Internet. Its key advantages, decentralization and security, offer tremendous potential for reordering the Internet landscape. Advertising, the blood and fuel of the Internet economy, is on the verge of a blockchain revolution and we have a vision to disrupt the chaotic patterns and inefficiency of digital advertising by building a completely new advertising technology stack. Papyrus will be the future monetization vehicle of decentralized Internet applications and transform online advertising into a highly transparent, consistent and lucrative domain for all the participants in the advertising value chain. Today, real time bidding (RTB) protocol is a common standard for online advertising. The Papyrus ecosystem will transform this to support decentralized applications and to radically improve the function of the existing programmatic advertising stack with better privacy and transparency using blockchain architecture.
Papyrus will be an all-new global ecosystem committed to forward thinking technology and transparency in the form of a global decentralized autonomous organization (DAO) governed by token-holders and developed by the Papyrus Foundation. In this spirit, all Papyrus components and libraries will be open sourced. Papyrus tokens (PPR) will become the basic tokens for decentralized Internet advertising. All payments, exchanges, incentives and fees on the Papyrus decentralized market for digital advertising will require PPR. The total supply of PPR tokens will be limited to the amount of tokens created during the initial PPR token sales.
For Advertisers and Traditional DSPs (Demand-Side Platforms)
Papyrus protects advertisers from non-human traffic and ensures brand safety – Papyrus will include decentralized reputation and antifraud solutions that will form a secure information base for advertisers to make weighted decisions on advertising bids. For example, if a publisher appears suspicious, advertisers can choose to bid with a significant discount or not to bid at all. Using smart contracts, the Papyrus ecosystem will have transparent market conditions in which honest participants will earn more revenue while dishonest will ultimately lose revenue. The structural security of the Papyrus ecosystem will be of magnitudes greater for advertisers than in traditional centralized adtech because of the openness and decentralization of the ecosystem and dynamic matching of economic incentives.
Papyrus creates transparency for advertiser stakeholders – By tamper-proof storing of all smart contracts and event logs inside a blockchain and secured decentralized storage, it will be impossible to use corruption schemes within long intermediary chains of ad buying. In the Papyrus ecosystem, advertiser stakeholders will be able to verify directly how ad budgets are spent and to perform in-depth audits of third parties as needed.
Transparent affiliate exchange – A popular approach in digital advertising is affiliate marketing, an area with high potential but which is currently plagued by high levels of fraud. The Papyrus ecosystem will allow the creation of a decentralized affiliate exchange where advertisers publish precise offers for execution as smart contracts and affiliates exploit them to achieve their desired goals. As all relationships are subject to transparent and secure smart contracts and decentralized governance by Papyrus, all parties in such an affiliate marketing exchange will operate securely and more efficiently than in traditional affiliate networks.
One of the cornerstones of the Papyrus ecosystem is reputation management. It is envisioned that all registered participants will have reputation associated to their identity – essentially a complex metric based on their previous behavior and establishing estimation on what behavior to expect from them in the future. For any interaction between the participants, either of the parties can (and should) take into account the other party’s reputation when choosing how to interact (e.g. dDSP proposing a higher bid price based on outstanding publisher’s reputation) and whether to interact at all (e.g. dDSP deciding not to bid for an impression from a publisher with low reputation) – and as interactions ultimately deliver value to the participants, all the parties are incentivized to behave in way that improves (or, at least does not damage) their reputation. Thus, a reliable, transparent and tamper-resistant reputation management mechanism contributes greatly to eliminating fraudulent behavior and building trust across the ecosystem. Reputation components derived from the ratings explicitly submitted by some other parties. This approach takes roots in the traditional reputation management which suffers from biased scoring and direct manipulation by colluding parties – and merely tracking such metrics / input scores using blockchain does not solve the problem. As one of the possible approaches Papyrus team will consider building an additional mechanism on top which will promote fair ratings based on verifiable facts reviewed by other randomly selected parties or challenged by arbitrary parties.
Papyrus Prototype Tokens (PRP) Allocation
PRP tokens will be issued during TGE Round 1 and will be immediately fungible in the initial prototype of the Papyrus ecosystem. Should the target hard cap be reached, the number of PRP tokens will be fixed at the end of TGE Round 1 and no additional token-generation will be allowed. If the target hard cap is not reached, an additional TGE round for PRP tokens may be scheduled. After Papyrus reach hard cap goal as a cumulative result of these TGEs, the amount of PRP tokens will be fixed and no additional PRP token-generation will be allowed.
The TGE Round 1 includes sale of Papyrus Prototype Tokens PRP with hard cap of $5M. Any funds raised beyond this will be transmitted back at the cost of the contributor. The Papyrus reserves the right to choose a lower hard cap should it deem this reasonable.
Starting 15th of September 2017 Papyrus opens private pre-order on Papyrus PRP tokens. Parties interested in buying PRP tokens for amounts of >=$50k are invited to participate in a pre-order program of PRP ICO tokens with a special discounted token price. All interested parties can submit requests for participation in the pre-order via the official Papyrus website.
- Alexander ShvetsProduct Director
- Elena ObukhovaCommunications Director
- Tanya KrishtopaProduct Manager
- Andrey VlasenkoLead Software Engineer
- Alexander KholodovLead Software Engineer
- Alexander TeleginMobile Software Engineer
- Igor SokolovBlockchain Engineer
- 1Q1 2017
R&D team assembled
- 2Q2 2017
First white paper published
- 3Q3 2017
First partners joined
- 4Q4 2017
$1.5M raised in token sale round 1
First proof-of-concept in Ethereum
- 5Q1 2018
MVP launch and token sale round 2
- 6Q2 2018
Enterprise pilots with partners
- 7Q3 2018
Launch of Papyrus Testnet & Papyrus Wallet
- 8Q4 2018
Launch of Papyrus blockchain network