Dear PointPay family,

Outside the windows, it's Friday, which means another week is behind us. It's time to summarize it! Learn about the latest news in the crypto sphere, announcements, and changes in PointPay, as well as ongoing and completed competitions!

Competitions

Let's start, as usual, with the winner of the Bug&Suggestion competition. The winner is:

  • 16246388568

Congratulations on this victory! A reward of 7,500 PXP will be credited to your account within a few days.

If you missed this round, don't worry! A new round of the Bug&Suggestion competition has already started! Submit your ideas for the development of PointPay or any discovered bugs through the designated form and get a chance to win 7,500 PXP!

We've also concluded the Worldcoin trading competition. The new asset was warmly received by PointPay users, and the trading was intense and exciting!

Again, don't be disappointed if you didn't have a chance to participate. Right now, we have an ongoing Trading competition featuring the RNDR token, which was introduced on August 8th on the PointPay platform! The competition will run until August 15th, so make sure to participate and compete for a prize!

Let's not forget about the ongoing Marketing Suggestions competition! You've already sent in hundreds of great ideas, which we've been reviewing with interest. But there's still a week left in the competition! So, send us your ideas about PointPay's marketing campaign, and the author of the best idea will receive 5,000 PXP as a reward.

PointPay Updates

The main news of the week was the introduction of a new token on our platform! It's the RNDR token from the Render Network Foundation, specializing in distributing computational power for cloud applications and high-quality 3D graphics.

Currently, RNDR is one of the most sought-after tokens, and over the past few weeks, it has managed to attract even more traders and investors. Starting from August 8th, this token can be traded on the PointPay platform!

We'd like to remind you that this is already the second listing of interesting and promising assets in a short period of time. We hope you enjoy such assets and the emerging diversity of cryptocurrencies!

Another almost regular update has been focused on fixes. Primarily, these fixes were related to several translations into various languages. Sometimes, certain phrases or words turn out to be quite unpredictable in translation, and even modern tools can falter. In such cases, the situation can only be rectified by a native speaker, who can easily detect discrepancies and explain where we went wrong. Several dozen translations have been corrected, and we encourage you to help with this too! If you, while using PointPay, notice inaccuracies or incorrect use of phrases or expressions, feel free to send them to us via bug reports or the Bug&Suggestions competition form – to be eligible for a reward!

In addition to this, we continue to release minor supporting updates and optimize server-side operations. As you may remember, during and after the major update, we made many changes to how functions work, how we process and store information. Currently, we are in the process of fine-tuning and finalizing the working chains.

Crypto Sphere News

The news in the crypto sphere this week turned out to be particularly interesting and intriguing.

We should start with Monday when the globally recognized digital payment system provider PayPal announced the release of its own stablecoin, PYUSD! This cryptocurrency is pegged to the dollar and is backed by it. The company believes that incorporating this cryptocurrency into the PayPal ecosystem will open up new markets and strengthen its position in the field of modern digital transactions. The company representative particularly highlighted the Web3 sphere and the gaming industry. According to the statement, these two sectors will initially be the main areas of application for PYUSD, and later it will expand to the realm of regular transfers and online shopping.

The distinctive feature of this stablecoin is the ability to pay for goods and convert cryptocurrencies into traditional currencies quickly. All of this will be possible through the dedicated PayPal app. It's designed for storing cryptocurrencies, swift sending, and also includes the ability to convert cryptocurrencies into traditional ones. Thus, it's very convenient for making purchases on various websites.

Overall, PayPal has given a good boost to the stablecoin industry, as the launch of the first such asset will be followed by others. VISA and Mastercard have already announced their plans to have a close interaction with cryptocurrencies, and now they have a clear competitor, which will definitely accelerate the release of their own solutions from these companies.

Less positive news came in the form of an intermediate appeal filed by the SEC in the Ripple XRP case. Not long ago, we were celebrating XRP's victory and the clear court decision that this cryptocurrency is not a security on secondary markets and exchanges. Now, the SEC intends to have this decision reviewed. According to the commission, "this decision was entirely incorrect and should be changed."

Currently, the court is awaiting Ripple's response to this filing. After that, Judge Torres will have to make a decision: either reject the appeal and continue with the case as it is, or suspend further proceedings and cast doubt on the existing decision, returning to the discussion of XRP's essence. How this situation will develop, however, we'll only find out next week. Ripple has promised to provide its response at that time.

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💡 Check PointPay Live-Roadmap (PointPay development in real-time): https://pointpay.io/live-roadmap/

🏦 Remember, we are PointPay, and we are beyond banking!