DeFi + CeFi | HyperPay — The First Web5 Based Digital Bank Sets Sail

Over the last decade, the blockchain industry has matured exponentially and reshaped many aspects of our daily lives. Today, cryptocurrency is a well-known term. Its terms, both technical and colloquial, have entered the public vernacular — the popularity of “Bitcoin”, “Web3”, “Metaverse”, “NFT”, “DeFi” and their ilk have seen interest from beyond the crypto industry, spurring huge growth in terms of accessibility and ownership in recent history.

The goal of DeFi is to build a transparent financial system that is open to everyone, one that meets people’s financial needs in a trestles environment, sans any third-party institutions, but providing all the complex products we’re used to — such as loans, contracts trading, and cross-border payments.

DeFi has spawned an intuitive, accessible, and secure entry point to cryptocurrency. One that provides unprecedented privacy and transparency, in tandem, to users independent of their means or status. It is truly open finance.

The key to DeFi — Web3 Wallet

In Web1.0 or Web2.0, users need to register different accounts on different platforms, and the respective information is siloed in private servers owned by enterprises or organisations .

Web3.0 brings with it a paradigm change. Fundamentally, users and platforms exist independently. When registering or logging in to a website, there is no need to fill in identity information and agree to a privacy agreement, but to directly create accounts through decentralized network and has a token agreement to maintain authentication.

Public chains are constantly rising, and new concepts such as DApps, DAOs, IOT, and X-To-Earn have also emerged to meet ever expanding demand for complex blockchain functions. Ideally, a user only needs to use their own digital wallet and private key to be able to log in to any website, and at the same time to self-manage their assets and obtain tokenomic incentives.

Wallets are users’ portals to the world of cryptocurrency, and DeFi at large. For a wallet to succeed, it must have competitive features, security and brand value.

As a 6-year veteran in the space, HyperPay is millions of users’ first choice for interaction with their digital assets. With capabilities of both traditional banking and digital currency banking, HyperPay is one wallet that can solve all financial payment related problems in a robust, secure and scalable environment — the blockchain, and pads this core technology with features that make the platform a delight to use.

Next, I will introduce the core advantages of the HyperPay wallet in details:

Driven by safety, fully guarantee the safety of user assets

Asset theft frequently occurs in the cryptocurrency market. Centralised exchanges (however infrequently) shut down without a moment’s notice. Self-custodial funds are susceptible to theft if left improperly secured by users. As a wallet, security is our first concern.

HyperPay’s decentralized Web3 wallet adopts security solutions of post-quantum encryption technology, Apple Keychain for iOS data storage, all-round support of encryption and other technologies to create a bastion of security for our users.

1.Multi-dimensional Monitoring

Our platform uses the following methods to track and act against malicious behaviour.

• ROOT Detection

• Third-party Library Information Collection

• Anti-simulator Defense Detection

• Mobile App Data Risk Analysis

• Network Security Detection

• Phishing SMS/Email Analysis

• UI Spoofing Detection

• Clipboard Security Detection

• UI Screen Recording Detection

2.Double Encryption of Private Key

Communication is encrypted by combining post-quantum encryption and traditional encryption technology, thus ensuring the interoperability of our system whilst resisting quantum computer attacks.

3.Token Security Detection

A standout feature of the HyperPay platform is its risk assessment of various tokens. To date, over 1.11M tokens have been analysed, and 545K+ of those have been verified and announced as risky.

Users can quickly and easily access this information in the risk centre, or when viewing tokens which have been analysed. This measure takes into account contract, transaction and information security.

4.Approval Risk Management

Our approach to risk management gives the user ample information to make educated decisions with their finance, but also provides the tools to protect them from mistakes, even in mainstream DApps:

• Comprehensive detection of approved contract information

• One-click revocation of risky approval

• Active block for dangerous approvals

5.Comprehensive evaluation of transactions/investments

• Scam detection

• Contract address detection

• Transaction data detection

• Holders data analysis

• Liquidity analysis

• Online DeX analysis

In the updated 5.0 and subsequent versions, HyperPay also applies industry-leading security technologies such as multi-party computation (MPC), homomorphic encryption, multi-cloud TEE security architecture, encrypted communication, zero trust architecture, and digital signature algorithm ECDSA to protect the rights and interests of users and to reduce risk exposure of their assets.

For liquidity mining and collateral lending that users may choose to conduct when participating in DApps, HyperPay combines existing market information and industrial knowledge and experience to perform comprehensive rating and contract security analysis for users.

HyperPay will evaluate the security situation and overall rating of liquidity pools from the dimensions of “scam detection”, “liquidity pool data”, “token data”, “contract code” and other information according to different public chains and different DEXs, enhancing the security level for users participating in HyperPay DEX, and enabling users to act on key data such as new mines, transaction volume, etc. as investment reference.

HyperPay has added a display of the total liquidity and 24h transactions in the form of bar chart, and alternate views of key parameters are provided on the market list page.

More public chains supported, a wallet to meet all users’ needs

Compared with MetaMask, the most recognized wallet in the current market, the HyperPay Web3 wallet supports more public chain networks, with 33+ of mainstream now. The off-chain wallet supports 54+, HyperMate, the hardware wallet, 19+, and the DApp ecosystem has covers 12+ chains.

Users can engage in mining, loans, cross-chain swaps, integrated DeX in the Web3 wallet, where they can also get to the latest information on public chain status, NFTs, and the DeFi world.

In the off-chain wallet, investment, vault pool, and low-interest loan, high-interest products, and Bull vs Bear feature are within reach to enable asset appreciation; at the same time, the HyperMate hardware wallet can ensure that your assets are stored in an absolutely safe environment; the multi signature mode of the shared wallet provides a more convenient method for asset management. For the needs of most users, HyperPay is enough.

HyperPay Operation Data

As a Web3 concept wallet with convenient operation and comprehensive services, HyperPay’s years of hard work in CeFi is also acknowledged:

HyperPay Wallet Profit Model

Both HyperPay’s off-chain wallet and Web3 wallet have unique business models, mainly divided into income from individual and enterprise users.

The off-chain wallet profits from enterprise users by token listing, asset custody and management fees; and individual users by transaction fees and Crypto Card issuing fee, deposit fee, fund management service fee, etc.; Web3 wallet profit methods mainly include token listing, DApp promotion, and commission rebates; in addition, HyperPay has HyperMate/HPOS machines and other physical products on sale to cater to users and businesses looking to participate in the physical blockchain economy.

HyperPay’s growth has been exponential. In 5 years, the platform has come a long way in improving accessibility to crypto:

Development

March 2017

Project launch

2018

HyperPay 1.0 released

Investment feature launched

Web3 wallet launched

Made strategic investment in CoinW exchange

2019

Crypto exchange feature launched

Pledge loan service launched

OTC service launched

HyperMate hardware wallet released

2020

HyperPay wallet made Open Source

HyperMate Pro hardware wallet released

Crypto Asset Custody service platform launched

Crypto Prepaid Card released

Cloud mining launched

DeFi investment launched

2021

HPay payment system launched

Crypto HPOS payment terminal released

Crypto ATM outlet released

Credit card buy crypto feature launched

HyperPay partner program launched

Vault Pool investment launched

DeFi supermarket launched

Web3 wallet-integrated DeX released

Web3 wallet-cross-chain instant exchange launched

Assets in custody reached over $1 billion

Web3 wallet users reached over 200,000

2022

HyperPay 5.0 released

HyperPay agent program launched

HyperPay flexible loan product launched

Bull vs Bear gamified derivatives product launched

Incubation of HyperLab security lab

Cryptocurrency credit card released

Web3 wallet multi-dimensional security detection launched

Malicious address library security detection launched

HyperPay reaches user count over 1.2 million

Future Roadmap

Our goals for the future reflect our virtues of compliance, transparency, and user-centrism.

2022 Q4

The off-chain wallet optimizes innovative financial products (intelligent auto investment, dual crypto financial management) to meet the needs of more financial users. Web3 wallet will launch GameFi center, allowing users to have a richer and smoother game experience.

2023 Q1

Open global accounts for users in order to support the deposit and transfer of dozens of fiat currencies such as USD, EUR, GBP, CAD, etc., to achieve rapid and real-time exchange of fiat and crypto currencies.

2023 Q2-Q3

To fully leverage the purchasing power of crypto assets. The crypto assets are circulated in the HyperPay ecosystem like legal currency in real life.

2023 Q4

Provide private banking services for HNWI with digital assets.

2024 Q1

Build a cross-platform, cross-public chain decentralized identity system, integrating on-chain and off-chain identities — realizing the Web3 credit mechanism.

Looking Forward

HyperPay has completed the previous planning in the whitepaper and is now moving forward to our next 5 phase in the platform’s lifecycle. Our new mission is to build a financial payment super-network, integrating the advantages of Web2 and Web3, CeFi and DeFi, and provide users with diversified financial services. At this juncture, HyperPay will also launch a new token incentive plan, “HW5”, to the public.

About HW5

HW5, the first Web5 digital bank token, is the backbone of HyperPay ecosystem, and adopts the PoP (Proof of Participation) mining mode, that is, users conduct mining within the HyperPay Wallet, including consumption with HyperCard, deposit, investment, loan, transaction. This encourages behaviors that increase liquidity, stabilising markets in the long term.

Pledge incentive: after obtaining tokens, users can choose to pledge on the platform, and then obtain new tokens.

HW5 Token Equity

Note: In the HyperPay Crypto Card series, hyper rebate card users may lock up HW5 tokens to get up to 10 times the consumption rebate.

The platform has introduced HW5 lock-up rules, offering 4% — 12% of consumption as rebates. The proportion of the consumption rebate at the initial stage of the activity can be increased up to 120% through locking for hyper rebate card users. It creates an innovative mining model of credit card consumption PoP (Proof of Participation). After the user locks HW5, they receive following incentives:

1. A certain proportion of stable currency income obtained by the platform;

2. HW5 rewards;

3. Multiplier Points: The user can pledge multiplier points to obtain the bonuses based on their Stacked Multiplier Points.

Token Allocation

Fundraising Details

Sale Time: November 29th — December 6th

Sale price: 1 HW5 = 1 USDT

Hardcap: 5 million USDT (in rounds)

Personal Hardcap: 10,000 USDT

Eligibility: Whitelist users

Listing Time: February 2023

Epilogue

We will eventually usher in the next bull market, and users will always gravitate towards utility. HyperPay’s focus will always remain on solving the pain points of safe storage of market assets, keeping up with market hotspots, and providing users with better and more comprehensive financial services. We hope to share the dividends with investors and supporters who choose to develop this service together with us.

HyperPay aren’t just looking forward to the future of finance. We’re making it.

Will you join us?