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ByBarter

Decentralized P2P transactions from Metamask/Trustwallet

Saudi Arabia
Market: Blockchain, Crypto currency
Stage of the project: Idea or something is already done

Date of last change: 05.09.2022
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Idea

The world's 1st decentralized, non-custodial P2P service platform that allows users of self-custody wallets (Metamask/Trustwallet) conduct P2P transactions directly from their wallets.

Current Status

MVP ready. ByBarter's decentralized, non-custodial P2P service can process P2P transactions for the Ethereum, Binance Smart Chain, Bitcoin and Litecoin.

Market

China, India, Indonesia, Nigeria, Mexico, Bangladesh are major markets with large populations of unbanked citizens with large involvement in cryptocurrencies. it is estimated that over 200million unbanked people in cryptocurrencies exist in these countries combined and can benefit from utilizing our platform to access crypto seamlessly

Problem or Opportunity

The world's unbanked and underbanked struggle to participate in the crypto space due to the structure of Centralized exchanges. The situation gets more difficult as governments continue to create barriers to make crypto less accessible.
Decentralized crypto enthusiasts rely solely on Centralized exchanges to fund and withdraw crypto from decentralized self-custody wallets, allowing centralized exchanges to continuously mine their data.
Monopoly and performance issues and insecurity of CeXes
Unfair withdrawal limits and undue control.
Masked transaction fees

Solution (product or service)

The ByBarter Team built the world's 1st decentralized, non-custodial P2P service platform that allows P2P transactions directly from your self-custody wallets like Metamask, Trustwallet. Our platform puts users in charge of their keys and crypto as we are non-custodial in nature. This will be a direct funding and withdrawal route for users of self custody wallets and DEX and the DeFi space.
No hidden fees.
Limitless funding and withdrawals.

Competitors

Paxful, P2P services on Centralized exchanges like Gate.io, Binance

Advantages or differentiators

Paxful and other P2P services are centralized and custodial in nature. ByBarter is advantageous to Decentralized crypto enthusiasts who trade on Decentralized exchanges with their self-custody wallets. With 1 USD they can buy the crypto of their choice directly fr om their Metamask wallet. Paxful and other P2P platforms focus on Bitcoin while ByBarter focuses on cryptocurrencies of blockchains wh ere developers build decentralized projects like Ethereum, Cardano, Solana, Binance Smart chain etc. ByBarter is non-custodial in nature which means users hold their keys and are in charge of their crypto without any limitations

Finance

1.4% payment fees on all sells on the decentralized, non-custodial P2P service platform
$1 fee on all buys
Tiered charges on sending BTC and USDT
Merchant listing fees on MarketVerse ByBarter
Advertisements on MarketVerse Bybarter
AMA fees
Trading fees onByBarter's Decentralized exchange

Business model

1.4% payment fees on all sells on the decentralized, non-custodial P2P service platform
$1 fee on all buys
Tiered charges on sending BTC and USDT
Merchant listing fees on MarketVerse ByBarter
Advertisements on MarketVerse Bybarter
AMA fees
Trading fees onByBarter's Decentralized exchange

Money will be spent on

ByBarter's decentralized, non-custodial platform currently has capabilities to process BNB, ETH and BTC transactions in a P2P format. Funds raised shall be used to expand our platform to process Cardano, Solana, Polygon P2P transactions and also build a Marketplace where crypto is the means of buying and selling as well as build our launchpad and Dex. Funds shall be used to expand team to achieve these goals

Offer for investor

The ByBarter project is tokenized and investors shall be offered our BYB tokens at the seed-sale price. This makes the investor a part-owner of the ByBarter project as 50% of profits generated from our ecosystem are shared with holders of the BYB token.

Team or Management

Risks

Considerable risks exist if self-custody wallet producers prevent integration with the ByBArter platform. While this is unlikely, the ByBarter Team is building its wallet to ensure business continuity in the event this risk manifests.

Incubation/Acceleration programs accomplishment

Innmind

Won the competition and other awards

This is our first competition

Photos

Photo 1 - Decentralized P2P transactions from Metamask/Trustwallet

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video