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Update from the team - December 7, 2018

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Hello and good morning everyone...

I hope you all slept well and are ready to get through the last day before the weekend. I guess some of you are almost ready for weekend while others are not yet awake 💤 I felt like witing an update to you all, after @ian#4786 provided a regular-update to us all on Discord. I have taken some interesting points from his update, and added some of my own.

On Discord in #regular-updates you can find a recap of things that have happened for us at PAWS and some random sneak peaks of what we are working on. Obviously the big item is the tracker tool that is being developed and will hopefully start to see the light of day somewhere in the first half of next year. The tool will be the basis for realizing our prime objective, which is providing donations to animal charities. It will be tracking the donations and will allow our users and investors to pick a charity and leave them a couple or a whole lot of PAWS. It will also be used, to allocate funds from the DONATION FUND to specific destinations, which is recharged via the blockchain every minute when a block reward is generated. I am looking forward to testing and afterwards using this service as out first product. A key point in this system is, that YES we will be recharging the wallet directly from the blockchain, but the money has to come from somewhere. The donations straight from the blockchain will come by giving PAWS value. And we give PAWS value by making it a currency that is in demand because people want to use and spend it on services and features that we will be providing. So, by using our currency and our services, you will be donating for animal charity, without the need for use to ask you for a donation. What is not to like?

Another feature mentioned by @ian#4786 that we are looking at is the possibility to use your PAWS to pay for items in the real world by using your credit card. This will make it very easy, for people to invest in PAWS and use the passive income generated directly in shops, instead of having to convert to BTC and from BTC to your local currency. Things like that, if only mentioned as a teaser at the moment, do make me excited as it will add real use to our crypto currency and pull us out of the dark crypto space and connect us straight with every day life where people need to buy food and cloths. Of course, it is early days, but just that fact that talks are positive make the future look bright.

I would like to share some small tips with regards to the panda bot. This weekend I will be working on the website and the forum and it is here I would like to add guides and tips. The panda bot which we added a few weeks ago is a very useful bot for many. It basically is a hosted wallet that is always on, that you can control via discord. The only down side is that fact that it is not you or us that controls the funds, but we have to rely on Panda to take good care of our PAWS, which is no different from a bank. With the panda bot you can be staking 24/7 without having your PC switched on all the time and you can use it as a fixed deposit address as the address allocated to your user will very seldom change. If it does, we will be informed. You can also control the wallet via discord via your mobile, which is an advantage over the desktop wallet. The staking algorithm is controlled by Panda, and you will need to pay a fee for using the staking feature, but you don't have to worry about power and power outages or making sure you have tuned your outputs so staking is optimized. You can also give/pay other people PAWS using the !tip command and you can hand PAWS out to random people using !rain and various types of soaking. Finally... if you want to know the current status of our coin, you can write $info in #paws-staking and it will tell you the current price, masternodes and blockheight.

I would like to remind you all what the block reward scheme looks like. You can find it on Discord on #paws-coin-specs and soon I will have added it on the forum. Basically we have an increase of the blockreward on a weekly basis the coming months, to compensate our early investors while the number of masternodes is increasing. We have grown quite a bit this week and currently have close to 130 masternodes. More masternodes mean more mouths to feed, and therefor the pie we are supplying need to be bigger so everyone can roughly get the same amount even with more to share.

We are currently in phase 7, which means 4 PAWS will be paid every time a block is generated. 2.8 PAWS will go to the masternode that won that round, 0.40 will go to someone staking and the PAWS Operation Fund and Donation Fund will each get 0.40 PAWS every time a block is generated. This will peak in about 10 weeks time, when it will slowly start to decrease to avoid (hyper) inflation as seen with many other coins.

Hopefully I will be able to update the website this weekend. I'm looking to add a team page and possibly a contact form so it will be easier for people that are not discord or telegram savvy to get in touch with us. We are here to stay and have no hidden agenda. More and more people are looking for genuine projects after having experienced a bad investment in one way or the other. I am no exception myself, and appreciate people looking for facts about the people behind a project... I will notify you all when I have made changes I would like you all to check out.

As I mentioned, I will be looking for adding content to the forum in the form of information and guides and tips. Not only for using the wallet, installing masternodes, using the panda bot, but maybe also what crypto is. What you can use it for and why you might want to get involved. We want to get in touch with people that are not living in crypto space. We want to get in touch with people that live in the real world and use the internet as a means to get information or buy items for their pets and animals. The forum will be the ideal place for those that do not know what Discord is, and those that use Discord every day and can use their Discord account to login to the forum and interact with those that don't use Discord. The forum is also a better place to store information, as the formatting will be much nicer than on Discord and we don't have to worry that useful information keep scrolling off the screen which means we have to repeat that information lots of times.

Not sure I can do all the things I want to this weekend. But I will make a start and see how far I get. It is my intention to complete it before Christmas, and hopefully, the Whitepaper will be delivered by that time as well.

That's it for now folks... speak to your soon on Discord. Have a nice weekend!

J3ll3 | PAWS

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