PAID Network Whitepaper

Wednesday, April 7, 2021
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WHITE PAPER V1.4 PAID Whitepaper v1.4 01/22/2021 Your Borderless Legal Toolkit For All Your Business Needs Draft for open community review and subject to change 1

WHITE PAPER V1.4 Notice and Disclaimer PLEASE READ THE ENTIRETY OF THIS “NOTICE AND DISCLAIMER” SECTION CAREFULLY. NOTHING HEREIN CONSTITUTES LEGAL, FINANCIAL, BUSINESS OR TAX ADVICE AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) BEFORE ENGAGING IN ANY ACTIVITY IN CONNECTION HEREWITH. NEITHER PD NETWORK INC. (THE COMPANY), ANY OF THE PROJECT TEAM MEMBERS (THE PAID TEAM) WHO HAVE WORKED ON THE PAID PLATFORM (AS DEFINED HEREIN) OR PROJECT TO DEVELOP THE PAID PLATFORM IN ANY WAY WHATSOEVER, ANY DISTRIBUTOR/VENDOR OF PAID TOKENS (THE DISTRIBUTOR), NOR ANY SERVICE PROVIDER SHALL BE LIABLE FOR ANY KIND OF DIRECT OR INDIRECT DAMAGE OR LOSS WHATSOEVER WHICH YOU MAY SUFFER IN CONNECTION WITH ACCESSING THIS WHITEPAPER, THE WEBSITE AT HTTPS://PAIDNETWORK.COM/ (THE WEBSITE) OR ANY OTHER WEBSITES OR MATERIALS PUBLISHED BY THE COMPANY. Project purpose: You agree that you are acquiring PAID token to participate in the PAID platform and to obtain services on the ecosystem thereon. The Company, the Distributor and their platform. The Company is acting solely as an arms’ length third party in relation to the PAID regard to the distribution of PAID token. Nature of the Whitepaper: The Whitepaper and the Website are intended for general informational a contractual relationship. There is no assurance as to the accuracy or completeness of such to the accuracy or completeness of such information. Where the Whitepaper or the Website includes information that has been obtained from third party sources, the Company, the change and that the Whitepaper or the Website may become outdated as a result; and neither the Company nor the Distributor is under any obligation to update or correct this document in Token Documentation or any part of it nor the fact of its presentation form the basis of, or be relied upon in connection or may be relied upon as a promise, representation or undertaking as to the future performance relation to any distribution or transfer of PAID token, is to be governed only by the separate terms and conditions of such agreement. The information set out in the Whitepaper and the Website is for community discussion only and is not legally binding. No person is bound to enter into any contract or binding legal commitment in relation to the acquisition of PAID token, and no virtual currency or other form of payment is to be accepted on the basis of the Whitepaper or the Website. The agreement for distribution of PAID token and/or continued holding of PAID token shall be governed by a Terms and Conditions shall prevail. Draft for open community review and subject to change 2

WHITE PAPER V1.4 Deemed Representations and Warranties a. in any decision to acquire any PAID token, you have shall not rely on any statement set out in the Whitepaper or the Website; b. c. guarantee or representation of value or liquidity for PAID token, and PAID token is not an d. members shall be responsible for or liable for the value of PAID token, the transferability and/or liquidity of PAID token and/or the availability of any market for PAID token through e. requested in order for the relevant checks to be carried out. The Company, the Distributor and the PAID team do not and do not purport to make, and hereby contents of the Whitepaper or the Website, or any other materials published by the Company limitation, any liability arising from default or negligence on the part of any of them, or any loss the Distributor and the PAID team. Informational purposes only: The information set out herein is only conceptual, and describes the future development goals for the PAID platform to be developed. In particular, the project roadmap in the Whitepaper is being shared in order to outline some of the plans of the PAID the token distribution because ultimately, the development, release, and timing of any products, features or functionality remains at the sole discretion of the Company, the Distributor or their amended or replaced from time to time. There are no obligations to update the Whitepaper or herein. Regulatory approval informally, of any of the information set out in the Whitepaper or the Website. No such action jurisdiction. The publication, distribution or dissemination of the Whitepaper or the Website does Draft for open community review and subject to change 3

WHITE PAPER V1.4 Cautionary Note on forward-looking statements: All statements contained herein, statements made in press releases or in any place accessible by the public and oral statements that may be are applicable only as of the date indicated in the Whitepaper, and the Company, the Distributor References to companies and platforms: The use of any company and/or platform names or English language: The Whitepaper and the Website may be translated into a language other No Distribution: No part of the Whitepaper or the Website is to be copied, reproduced, distributed By attending any presentation on this Whitepaper or by accepting any hard or soft copy of the Whitepaper, you agree to be bound by the foregoing limitations. Draft for open community review and subject to change 4

WHITEofPAPER Table Contents V1.4 Notice and Disclaimer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 1. Abstract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 2. Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 3. PAID DApp . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 3.2 Arbitration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 ..................................................................... 8 ...................................................................... 8 3.5 Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 3.6 DAICO Launch Platform . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 3.7 Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 4 PAID Token . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 4.3 Fee Accrual . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 4.4 Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 5 Implementation and Architecture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 5.2 Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 5.3 Oracles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 5.4 Arbitration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 5.6 Lending . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 5.7 DAICOs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 6 Tokenomics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 6.1 PAID platform economy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 8.2 Inadequate disclosure of information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 8.3 Failure to develop . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Draft for open community review and subject to change 5

WHITE PAPER V1.4 1. Abstract and opportunities to our users. arbitration system, reputation scoring and DeFi tools, the PAID platform has the potential to create opportunities for organizations and business professionals to save time and money. 2. Introduction them to forfeit valuable opportunities. 3. PAID DApp PAID is a decentralized users easy-to- use web and mobile apps, to do business need for expensive create opportunities for the PAID community, enabling them to securely participate in lucrative institutions. Draft for open community review and subject to change 6

WHITE PAPER V1.4 agreements as these business relationships formalize. minimizing risk for token sale participants. tranches based on their progress. The community of token sale participants can intervene at any time if they feel the company is not delivering as promised, and request a vote to cease the release of funds. If the vote proportionally, according to the percentage of their original contributions. 3.1 SMART Agreements use of SMART 3.2 Arbitration legal counsel. The second reason is that in the event of a dispute, the agreement can be easily interpreted by anyone in order to render a judgement. Draft for open community review and subject to change 7

WHITE PAPER V1.4 arbitrated, further incentivizing them to act in the best interest of the platform’s users, thereby maintaining the integrity of the system. arbitrator in the future. 3.3 Reputation Scoring prospective business contacts. Conversely, if a user consistently violates the terms of their agreements and is frequently 3.4 Escrow & Lending Escrow ecosystem. will take place via a decentralized p2p marketplace community based on their needs or interests. Parties can either accept payment and interest terms, or move into a negotiation phase. Draft for open community review and subject to change 8

WHITE PAPER V1.4 P2P DeFi marketplace. 3.5 Insurance pools by depositing capital into the pool and receiving premium payments in return. reputation score of the payer. each policy. both Bob and Alice’s DIDs, taking into account their reputation scores and previous transaction histories. Once Alice selects a policy and agrees to premium payment terms, her agreement is to Get PAID. 3.6 DAICO Launch Platform Every project current token sale methods today have no accountability measures for projects to ensure they are maintaining scheduled progress and roadmap deliverables. Therefore, this current format DAICO platform will released in based on community- the project based upon the predetermined funding release schedule. monitored question, they can call a project audit at any time by submitting an audit request to PAID DAICO is completed. continue to access the allotted funds based on the release schedule. If the project fails the Draft for open community review and subject to change 9

WHITE PAPER V1.4 sale participants.. 3.7 Governance This necessitates the formation of a system of governance administered by the biggest the PAID platform. ecosystem stakeholders. 3.8 Use Cases • • • • • • • 4 PAID Token PAID token PAID token is a non- refundable platform and intended to be used solely as the primary utility token on the platform. functional utility token be used as between services or for the discharge of a debt; nor is it designed or intended to be used by any person as participants Draft for open community review and subject to change 10

WHITE PAPER V1.4 receive any PAID token incentives. purpose, it is unfeasible to do so given PAID’s lack of control over the token supply. 4.1 DApp Services 4.2 Staking As an indication of commitment to the system and service standard assurance, PAID tokens deposit in order to ensure service standards and prevent malicious behaviour. Participant -15,000 PAID tokens • • Manager - 75,000 PAID tokens • Participation in • presale DAICO • token sale • Receiver - 150,000 PAID tokens Governance in DAICO projects • • • • Professional - 250,000 tokens • Can earn • • • Governance in DAICO projects own insurance • pool Draft for open community review and subject to change 11

WHITE PAPER V1.4 Arbitrator - 1,000,000 tokens • • Can earn fees by contributing to insurance liquidity pools • • • • 4.3 Fee Accrual Depending on their level of commitment, stakers on the platform can participate in various participation. In order for the PAID platform to function properly, it is important for users to contribute to play the role of liquidity providers and stake their digital assets into these liquidity pools, so as various adjustment and correction parameters. 4.4 Governance of the entire PAID ecosystem. In order to participate in future governance opportunities, token token holders are able to vote according to the number of tokens they hold. The token’s intrinsic For the avoidance of doubt, the right to vote is restricted solely to voting on features of the PAID platform; the right to vote does not entitle PAID token holders to vote on the operation and interest in any of these entities. 5 Implementation and Architecture PAID, at its core level, is a system of smart contracts. All smart contracts used by the platform 5.1 Staking pools These staking pool contracts are used as references to verify stakers’ permissions to participate Draft for open community review and subject to change 12

WHITE PAPER V1.4 5.2 Insurance Insurance contracts returns from premium payments made by policyholders. allow PAID token stakers to participate in insurance have the opportunity to receive an increased percentage of the total premiums paid based on depending on each individual’s liquidity contribution to the insurance pool. In the event of an IDs of the benefactor, detailing their desired coverage amount, and submitting their quotation request to the PAID insurance ecosystem. cancelled and the locked insurance collateral released back into the insurance pool. Premium negatively impacted. 5.3 Oracles This needs to be done in a trustless and auditable manner, in order to avoid any potential these contracts. Draft for open community review and subject to change 13

WHITE PAPER V1.4 5.4 Arbitration ensures the highest possible level of integrity in it’s arbitration system. Generator. The arbitration process begins once the arbitrators have been selected. At this time, then use this information to decide the outcome of the dispute. arbitrators. 5.5 Escrow release of the funds. In the event of a dispute, or the refusal by either party to release funds, the agreement settlement 5.6 Lending request to the community of PAID stakers by submitting their requirements, amounts and terms, proposed terms to be unacceptable. Draft for open community review and subject to change 14

WHITE PAPER V1.4 5.7 DAICOs parameters. The parameters to be set are basic token supply metrics, amount to be raised, contribution details such as purchase price and vesting period, roadmap milestones and funding release schedule. the company based upon the established fund release schedule. progress of the project is in question, through submitting an audit request to the PAID DAICO is completed. continue to access the allotted funds based on the release schedule. If the project does not 6 Tokenomics supply of PAID is 19,884,000 supply of PAID will be PAID token are designed to be consumed/utilised, and that is the goal of the PAID token right or stake, share or security, any voting, distribution, redemption, liquidation, proprietary property rights or any other form of participation in or relating to the PAID platform, the Company, Draft for open community review and subject to change 15

WHITE PAPER V1.4 the distribution of PAID token and the PAID platform. Neither the Company nor the Distributor 6.1 PAID platform economy and lending services, insurance policies, arbitration and DAICO token sales. 6.2 Sustainability locking up their PAID tokens in staking nodes. Draft for open community review and subject to change 16

WHITE PAPER V1.4 6.4 PAID Network (PAID) Token Metrics Summary Vesting Periods Token name: PAID 1 month lock, Seed then daily linear unlock 9 months Total supply: 594,717,456 10% at listing, Hard cap: Private A then daily linear unlock 6 months Seed sale: 25% at listing, Private sale A: Private B then daily linear unlock 3 months Private sale B: Public 100% at listing Public sale: Advisors Initial market cap: then daily linear unlock 24 months Initial circulating supply: 19,884,000 Team then daily linear unlock 24 months Total Diluted Market Cap: Research then daily linear unlock 60 months Sales Stages Ecosystem growth and then daily linear unlock 60 months referrals Token Funds Market Cap Stage Exchanges and Price Raised 100% @ Round 100% at listing market-making Seed 0.0150 Disbursed to stakers at Private A 0.0250 Early staking Private B General Public Sale reserve then daily linear unlock 60 months Token Allocations Exchange Listings 15% Development 40% $2.27m Raised Operations 20% Marketing 25% Use of Sale Proceeds General Reserve 9% Private Sale 14% Exchanges and Market Making 1% Public Sale 1% Research Foundtation 20% Staking Rewards 10% 595m tokens Advisors 5% Ecosystem and Referrals 25% Team 15% Draft for open community review and subject to change 17

WHITE PAPER V1.4 7 Summary sales by providing the proper blockchain technology tools for users. insurance via PAID. the aforementioned service to the entities involved in smart agreements. Draft for open community review and subject to change 18

WHITE PAPER V1.4 8 Risks PAID token, holding PAID token, and using PAID token for participation in the PAID THE FOLLOWING RISKS: 8.1 Uncertain Regulations and Enforcement Actions The regulatory status of PAID token and distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of virtual currencies has become a primary target of distribution strategy may be constantly adjusted in order to avoid relevant legal risks as much 8.2 Inadequate disclosure of information As at the date hereof, the PAID platform is still under development and its design concepts, consensus mechanisms, algorithms, codes, and other technical details and parameters may be current information relating to the PAID platform, it is not absolutely complete and may still be adjusted and updated by the PAID team from time to time. The PAID team has no ability 8.3 Failure to develop shortage of development funds for activities. 8.4 Security weaknesses Furthermore, there is a risk that a third party or a member of the Company, the Distributor or and/or the PAID platform. Draft for open community review and subject to change 19

WHITE PAPER V1.4 Further, the future of cryptography and security innovations are highly unpredictable and protocol. 8.5 Other Risks of, holding and use of PAID token, including those that the Company or the Distributor cannot aforementioned risks. You should conduct full due diligence on the Company, the Distributor, mission and vision for the PAID platform prior to acquiring PAID token. Draft for open community review and subject to change 20