The future of banking
The Alliance aims to educate the general public on the opportunities afforded by cryptocurrencies and decentralized finance on the future of banking. Cryptocurrencies are the fastest growing technology in history in terms of consumer adoption. However, many people do not understand the implications of cryptocurrencies or decentralization on the future
of banking or the opportunities that it creates. The Alliance will provide educational tools, promotional programs, technology tools, code samples and frameworks for the safe and ethical adoption of decentralized finance technologies such as cryptocurrencies and smart contracts.
The alliance is solely focused on facilitating a safer and smoother adoption of cryptocurrencies within the future banking system of our world
Our vision is a global movement towards decentralized financial systems that align community and personal agency in a way that enables global access to everyone who wishes to participate.
The Crypto Perx (CPRX) Token
The Crypto Banking Alliance has created a token referred to as CPRX which is short for “crypto perks.” The Alliance created CPRX to have a means of rewarding partner firms, both for profit and non-profit alike, for helping to spur the adoption of crypto banking systems and decentralized finance.
The Alliance will grant token allotments of CPRX depending upon their intended application, utility and potential for adoption to grant applicants. Over time CPRX will also serve as a governance token for The Alliance to decide on future grants giving early CPRX holders a voice in the future of The Alliance.
CPRX is an Ethereum, ERC-20 based utility token.
A fixed float of 3 Billion CPRX will be minted and there will be no public pre-sale of tokens by The Alliance. The Alliance itself may not sell any tokens during the first 12 months after the tokens are minted. CPRX may support other blockchains in the future and ultimately may move to its own custom blockchain if required. This migration would be approved using the token based governance model of CPRX itself.
While the applications of CPRX are endless we outline some potential utilities of the token here in the hopes that potential partners will embrace CPRX for their own needs and join us on our shared quest of enabling decentralized finance movement.
Road Map & Timeline
CPRX will evolve into a decentralized autonomous organization and open source project over time.
- Launch of CPRX
- Announcement of initial grant recipients
- Launch of initial CPRX based apps
- Initial token exchange and AMM listings
- Details of CPRX NFTs
- Details of CPRX Yield Pool
- Details of DAO governance plan for CPRX
- Details of CPRX Technology Roadmap
CPRX is a utility token as described below. We expect CPRX to be used in lending, yield generating activities, payments and other banking functions. We expect the majority of any financial benefit gained via CPRX to go to the end user/consumer and not to any centralized financial institution although we do expect institutions to benefit from CPRX as well
A dual sided, complementary, crypto banking ecosystem will evolve over time that incentives holding CPRX as well as borrowing and spending CPRX. This will enable various yield generating incentives while fulfilling institutional and retail borrow demand.
The economic value of CPRX will depend upon its liquidity with exchanges, wallets, market makers and other players within the crypto ecosystem.
Obtaining a grant from the Crypto Banking Alliance
The Alliance will seek partnerships that align with our stated mission. We believe that any fintech or financial services company is appropriate to support us but we will highlight here likely early targets for CPRX token grants and target use cases for the tokens that add the most value and utility to CPRX holders. Specifically the alliance is looking for partners in the areas of crypto wallets, crypto exchanges, play for rewards gaming, DeFi, “legacy, prepaid and neo banking service providers” as well as traditional retail.
Obtaining a Grant
The grant process is very straightforward. Fill out this form (LINK TO FORM) sending us details of your organization, the purpose of the grant, a summary of how the grant furthers our mission and the contact details of the grant applicant.
We will review the grant application and get back to you to set up a time to discuss your application if we feel that it warrants consideration. We STRONGLY encourage you to apply. No idea is too crazy or far fetched
Wallet Use Cases
- Staking Rewards: Accounts maintaining an average minimum balance requirement of CPRX Tokens in a wallet app could earn staking rewards deposited directly into the wallet at defined intervals.
- Yield Reward Booster: Different savings tiers could receive a yield boost on custodied crypto assets.
- Cashback Rewards on Trades: Traders could receive a rebate of their trading fees or spreads paid in CPRX.
- Payments and in-app currencies: games and other in-app currencies that need interoperability with crypto, smart contracts,
- Friend Referrals: Depending on the loyalty tier, users could receive additional CPRX rewards for each person they refer to the wallet app. Loyalty program referrers could receive a CPRX bonus for each new user they refer.
- Cashback Card Rewards: For wallets with attached credit or debit cards, “cash back” rewards could be paid in CPRX at a percentage relative to the user’s loyalty tier.
- Special Promotions: wallet App creators could also run special promotions for their rewards program members using CPRX. Promotions could include: giveaways, trading bonuses, holiday promotions, and more.
Crypto wallets play a pivotal role in the future of decentralized financial systems as they often act as an on-ramp and off-ramp for new crypto currency users who are not traders. Wallets can offer brokerage, crypto yield, lending against crypto holdings, on ramps (and off ramps) to legacy bank accounts, NFT style collectibles, DeFi services such as yield farming and even traditional banking like services using stablecoins. We foresee many applications of CPRX within existing and future crypto wallets such as: rewards programs, staking for incremental yield, staking for rebates of fees for brokerage or lending services, credit card cash back programs, customer referral programs, payment currency for money transfers or NFT auctions and more.
Play for Rewards Gaming
AR/VR gaming models such as Pokemon Go have a massive following. We believe that crypto based gaming tokens and NFTs are the future of gaming. CPRX would be a fantastic token rewards solution, and an incentive and payment model for gaming providers to have a turnkey system of tokens that would likely be fungible with traditional currencies, stablecoins and other crypto currencies. Integrating with payments and banking systems is often complex and difficult for game providers, the CPRX model shows that this is not only not necessary but easier achieved via cryptocurrencies We hope to encourage game developers to integrate with future decentralized financial systems using the CPRX token model.
Cryptocurrency - or digital asset - exchanges play a pivotal role in providing liquidity and trading across the entire cryptocurrency ecosystem. Retail investors, institutional investors, and corporate investors leverage cryptocurrency exchanges to manage positions in myriad cryptocurrency and digital assets. Crypto exchanges often act as a natural custodian for these users who wish to have near real time access to crypto holdings and manage liquidity as required. A global partnership base of cryptocurrency exchanges is necessary for the orderly operation of CPRX within the broader cryptocurrency ecosystem. It is our aim to encourage and even broker partnerships across these exchanges with other application providers such as wallets and gaming providers that need to manage liquidity of CPRX. Staking rewards would be a logical grant model for crypto exchanges in the early days of the system as this would likely encourage many holders to maintain holdings for the life of the staking programs.
DeFi and Yield Farming
Many DeFi systems offer lending solutions that pay significant interest using a built in rewards token system. CPRX provides a turnkey model for Ethereum based contracts to pay incremental yield, and create a staking mechanism to promote lower borrow rates. Defi systems that leverage or partner with CPRX based solutions will be able to offer incremental yield and incentive opportunities to help create significant incremental awareness for their offerings. They will also be able to partner with wallets that can offer their DeFi protocols and combine CPRX promotions into even more compelling offerings. Legacy Banking Many digital first banking services, including prepaid wallets, online remittance companies and neo-banks, are looking to offer yield on fiat accounts, create compelling incentive rewards programs and incentivize p2p referrals. Many are also looking to offer stablecoins and crypto capabilities. CPRX can be used as an effective seeding mechanism for such programs. The CPRX model can enable rewards for money transfers, higher interest rates on stored value savings accounts, and CPRX yield on prepaid account/card balances. By integrating with other wallets and DeFi services that already offer CPRX the benefits can be magnified even further. Retail Many retailer and private credit card issuer (e.g. airline) rewards systems create points models that have little to no real value for many users, particularly millennial users, for several reasons. CPRX represents a really interesting opportunity for engaging a younger, crypto-savvy audience. By integrating rewards programs with CPRX millennial consumers can be engaged in a way that traditional points programs just can’t compete with. With CPRX rewards programs could be integrated easily into play to earn games, crypto wallets and even future banking services that adopt the CPRX model.