Paid Network debuted in 2020 with the goal of serving as a First Borderless Civil Legal System powered by blockchain, using DeFi tools. 

The network provides users with a set of apps so they can conduct business with anyone worldwide, without relying on expensive legal services or involving third parties. PAID focuses on easing the friction, complexity, and borders that often make today’s legal and arbitration workflows harder.

Paid Network operates across both the Ethereum and Polkadot networks, and it includes a DeFi toolkit featuring its own launchpad, staking, insurance, and escrow. PAID is the network’s native token, used as a utility token throughout the ecosystem.

What are PAID Network’s key features and how does it work?

PAID Network’s legal offerings are built on DeFi technology. One such product is the PAID Ignition Platform, a decentralized swapping protocol that gives PAID holders access to private and public pools. 

There are 3 launchpad variants, each with its own functionality. Ignition is built to give PAID token holders entry to a curated list of private and public token sales. The Apollo-X platform is made for IDOs, while PAID Network India is intended to encourage blockchain uptake among the Indian population.

Another core element is PAID’s SMART Agreements-template-based legal documents that enable users to complete business contracts efficiently on a PC or mobile, without needing a third party or extra legal complexity.

The platform also includes a reputation scoring mechanism. Similar to a credit score, users can build reputation points through feedback from the parties they work with. In general, the higher the score, the stronger the reputation.

Escrow & Lending is another significant feature within the PAID Network. This is handled through a decentralized P2P marketplace on the platform. Escrow funding requirements depend on a user’s reputation score, which is meant to limit risk for lenders. Borrowers can submit requests to community members, and lenders can reply based on the borrower’s needs and/or preferences.

Lastly, if a dispute arises, PAID stakers step in as Arbitrators. To resolve the issue, 3 arbitrators are selected at random to decide which side is entitled to the assets in question. 

What is noteworthy about PAID Network?

As mentioned earlier, PAID Network enables organizations to create tailored, custom “SMART agreements”. This approach allows agreements to reflect individual requirements by adapting from a template. These SMART agreements can be applied in different scenarios, such as holding funds in escrow, managing disputes, or being used as part of insurance arrangements.

Where can you buy PAID?

PAID can be purchased on CEXs and DEXs, with Pancake Swap and Uniswap among the most popular choices.