The difference between MenaPay to MenaCash token

MenaPay, is a payment gateway based on the first blockchain focusing on MENA region.
MenaPay platform creates a token and a currency that you will see clearly and in detail through this report. In the blockchain ecosystem, a token is what represents a special or tradable asset or a utility on a blockchain.
MenaPay token is a token to be granted with a limited amount of 400 million. 64% (256 million) total tokens will be owned by the public. MenaPay token is used to distribute platform revenue share among owners. The token holder will receive a portion of the company's revenue corresponding to the number of MenaPay cards in their wallets. The token holder will earn their share as MenaPay token. MenaPay will be able to be purchased from trading platforms after ICO. During ICO, only users identified in the white list who have completed the KYC process can purchase the MenaPay token from www.menapay.io using different payments.
method.
MenaCash; is a stable cryptocurrency of MenaPay platform that will be used for daily transactions between 3 motivations in the system; users, sellers and platforms. Transactions between P2P users (peer), transactions between users and sellers P2M (on par with sellers) and transactions between approved sellers and MenaPay Foundation to convert MenaCash to fiat M2F currencies (people Semi-established) will be able to use
MenaCash. MenaCash will be created on MenaChain's own blockchain to ensure safe and fast transactions among users.
MenaCash's circulating supply will always be equal to the US dollar in
Bank account of MenaPay Fund.
1 MenaCash = 1 USD

Management structure
Determining the governance structure is the key to ensuring trust in the community and the integrity of the team. We have identified the governance structure of MenaPay Foundation and managed MenaCash to have 100% confidence by our entire ecosystem.
MenaPay Fund
Shareholders of the organization appoint members of the Board of Directors. Executive board members lead the foundation with integrity. They consider the benefits of MenaPay Community and all stakeholders of MenaPay ecosystem; including users, sellers and resellers.
The Executive Board works according to MenaPay's vision. Because priority is
Sustainable growth, the Board of Management has the right to make strategic decisions to change transaction fees, cash withdrawal fees and revenue share distribution rates.
MenaPay Fund needs to buy cards from trading floors for the purpose of distributing revenue sharing and filling green reserves.
Obviously, the purchase of MenaPay Foundation cards will positively affect the price token on the market. The Executive Board is responsible for effectively implementing security measures and ethical standards to avoid fraud, insider trading and misuse of information.
The whole working group is full-time, dedicated to MenaPay's activities. The management team prepares an annual budget for marketing and operations. MenaPay's managing directors have the right to spend in the budget and have limited their powers on the Power of Attorney. For payments exceeding the limit, 2 signature agencies are required; one from CEO, and the other; from an executive board member.
CFO reports directly to the Executive Board on reporting, auditing and internal control purposes.
Every quarter, at least one board meeting should be done. The Executive Board is now in charge of controlling the management team. All strategic decisions such as investment, acquisition, budget revision, etc. require your approval.
Reliable structure for MenaCash
MenaCash's reliable structure is a very good use case of blockchain. Instead of using traditional audit methods by providing periodic financial documents, blockchain allows for immediate auditing. Our 3rd party partners are published on
www.menapay.io to ensure 100% safe and reliable structure for MenaCash.
Since the total supply of MenaCash must be in US dollars in banks, there should be no time when US dollars are less than MenaCash in circulation. To ensure that structure, MenaCash's bank account will be separated from MenaPay Fund. Any cash can only be issued with the approval of MenaPay Foundation and a reputable third party auditing company.
To clearly explain the audit process immediately, it is better to explain with the chart below with the assumption that we have 100 million MenaCash in circulation.
Our 3rd party auditing and deposit partners are accessible from www.menapay.io. Our policy is to keep up to US $ 100 million in a bank account. Bank accounts and locations of banks will be distributed worldwide
The Executive Board reserves the right to change the reserve currency into any currency accepted by regional traders. US dollars have been selected for convenience for merchants since 2018
GCC countries use fixed local currency with the US dollar and oil prices are determined in US dollars. In the future, we anticipate that Euro or Yuan may become more popular. If the fiat monetary expectations of most people change, the Executive Board may decide to switch to reputable currencies globally and acceptable.

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Onepaper: https://www.menapay.io/onepager.pdf

Author: lesterealy717

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