A Case for Papel
by Gideon Six
Papel is a new token that launched in April 2021 on the Binance Smart Chain (BSC) that seeks to soon become its own Ecosystem in the DeFi sphere of cryptonomics. According to Crypto Advertising, the Papel token is “inspired by the ideals of Casa de Papel”. At face value, the project is similar to that of tokens such as Safemoon due to its deflationary nature and use of tokenomics to reward holders of the token and to discourage pump and dump activities that dominate the current landscape of the alt coin movement. Unlike Safemoon, however, Papel is ambitiously attempting to integrate the token into all aspects of life instead of focusing on solely financial matters; it could become a way for people to live their life, communicate with peers, fans, earn income, and much more. It is currently available for purchase on Bitmart (preferred), Hotbit, and Pancake Swap. According to BscScan, Papel currently has 29,454 wallet addresses and a Fully Diluted Market Cap of $34,100,000 as of this writing.
Welcome to Papel
The Home Page for Papel is certainly badass in comparison to the humdrum look and feel of other similar sites. Immediately one is greeted by an imposing figure in red donning a white mask accompanied by a video welcoming you to the site. It has an Anonymous feel to it. According to the official website “The official contract address for PAPEL token is 0x557dd6700e66818af340cce17fd4508ced81fbc1” and the most recent audit can was completed by Techrate which found no High Severity issues. The white paper is much more informative than most. The token is intended to be deflationary so that it can be used as a store of value. The paper goes on to explain the token is to be used in the following ways: “Streaming platform, DEX, NFT, staking, marketplace, charity, crowdfunding”. The token launched early April and immediately burned 91% of its supply.
Deflationary Token
The delaftionary nature of Papel is the foundation for its future growth. The white paper explains “each transaction is subject to commission of 10% so divided: 5% redistributed to all holders (in proportion to the amount of tokens in the wallet). 2.5% is sold in BNB and is combined with the remaining 2.5% of PAPEL and deposited in PancakeSwap as a liquidity pool.” This is intended to provide value to holders of the token while protecting the token from extreme volatility that can arise from pump and dumps, squeezes, and shorts.
The initial launch included 1 Quadrillion tokens and immediately 91.1% was sent to a burn wallet or what the developers refer to as the Balck Hole Address. There were 23,106,464,272,537.916 tokens that were immediately locked until 2022. At that time, they may be locked again or burned. 1 Trillion is set aside for Governance (Papel Deployer), and another 99 Trillion in locked liquidity until May 2026.
Social Media Presence
Twitter https://twitter.com/PapelToken 20.6k Followers
Instagram https://www.instagram.com/papeltoken/ 2,429k Followers
LinkedIn- Profile Unavailable
Discord- Not found
Reddit https://www.reddit.com/r/PapelToken/ 454 Members
Telegram https://t.me/papel_token 9,312 Members
Facebook: https://www.facebook.com/PapelToken/ 188 Followers
Youtube: https://www.youtube.com/channel/UCXPISB_rNEWNBZcYMXqKf2Q 228 Subscribers
TikTok: https://www.tiktok.com/@papeltoken? 161 Followers
Twitch: https://www.twitch.tv/papeltvofficial 283 Followers
Roadmap
The Roadmap for this project is fairly thorough and is updated often. For Q3, the following tasks are listed:
PAPEL TV- Intended to allow influencers and other entertainers a platform to engage with followers in a meaningful way.
Influencers live streaming platform
PAPEL SWAP- Decentralized Exchange (Dex), enables users to swap between cryptocurrency assets by tapping into user-generated liquidity pools and also promises to donate commission to charity.
Charity activities and donations
SECRET EVENT
Binance NFTs
Exploring other exchanges
Meetups
Expanding Team
PAPEL TV
The Team (unknown)
There is currently no publicly available information regarding team members. The website says there is a company that handles legal issues and they plan to become somewhat public during the Summer- though which summer is not specified. The website does mention that most cryptos are anonymous (which is true) and that the Professor and his team are playing the game.
Summary
I was really excited when I first clicked on the homepage for Papel. Though after that initial rush, I was left a bit underwhelmed- though it is worth keeping a bag on this because the team (whomever they are) has delivered each step of the way according to the Roadmap while still admittedly being in the early stages of the product. They have done a few manual burns that generated some excitement and gave a boost to the price. I would like to see more Social Media engagement. The website looks amazing, so I am surprised they are not more active on the platforms, but that may be due largely to the fact that the developers have yet to Doxx themselves. If they do, I believe it will have a positive impact on the outlook of this token and get many more people excited about it.
References
https://en.cryptonomist.ch/2021/04/19/papel-deflationary-token-casa-de-papel/
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