PIE token is a crypto payment option and utility token that will be used to pay for services and unlock features on the Pieme platform. The PIE token can be used to pay for services such as purchasing meals, booking event tickets, and covering advertising fees with discounts available for PIE token holders.
Pieme as a platform connects people to authentic home-cooked local dishes prepared by people in their homes and shared with communities around them. The platform aims to have people connect through their shared love for authentic local home-cooked food.
The rewards here go both ways, the host gets to make money from the comfort of their home, doing something they like (cooking), while guests get to enjoy healthy, traditional local homemade dishes while connecting with like-minded members of their community.
The introduction of the PIE token on Pieme will greatly reduce the overall cost of meals by cutting out the middleman. Existing centralized platforms will often use traditional payment systems that involve multiple intermediaries, which increase the costs that customers and restaurants pay on top of the actual cost of food.
To incentivize the use of the PIE token, Piemates will be rewarded with PIE tokens for engaging in different activities such as hosting meals and events, making payments using the PIE token, and staking, among others.
How the PIE token will be utilized on Pieme
Pieme charges 10% commission on meals ordered from the platform, however, hosts on Pieme that stake $100+ will only be charged 5% commission. Additionally, Pieme will share 30% of its revenue with PIE Token holders who stake their tokens.
Piemates have the option of paying for meals using their preferred payment gateways supported on Pieme. However, paying with Pie Token cuts down costs charged as intermediaries that add charges on the actual cost of food are eliminated.
Booking event tickets
Guests can book event tickets using the PIE token. As previously mentioned, the pie token reduces the overall cost of the ticket because no intermediaries are involved in the transaction, everything rotates between guests and the host.
Access to exclusive features
Pieme will offer exclusive features that can only be accessed and enjoyed by PIE token holders. Features like crowdfunding for event concerts and online paid events to mention a few.
Pieme supports food donations. All funding will be enabled using the PIE token which will help to keep costs down and promote transparency.
Pieme will offer advertising space to brands looking to reach our community. Those who pay using the PIE token will enjoy huge discounts.
Benefits of Holding PIE Token
Pieme will share the revenue generated from Pieme with users who stake their PIE tokens. 30% of all profits will be shared back to the Pieme community who stake their tokens.
PIE token holders will receive considerable discounts on the fees charged on services offered on Pieme.
Incentives and rewards
Pieme plans to provide incentives and rewards to PIE token holders. These rewards may happen at any time as intended by the Pieme team, but will most often take place around promotional activities.
Pieme will offer exclusive VIP features such as crowdfunding for events. These VIP features will only be available to PIE token holders.
Why we created the PIE token
High costs of food in urban restaurants
The current restaurant and event sector is centralized and greatly relies on multiple intermediaries to conduct transactions and provide services. Each intermediary adds a cost that can significantly increase the overall cost that businesses and customers alike end up paying for.
In these centralized platforms, transaction fees can range from 10% to 30%. They are broken down below;
Platform Fees (10% — 30%)
For most delivery services, centralized platforms charge a commission to use their application, and the cost is transferred to sellers and buyers.
Financial Institutions Fees (1–3%)
Financial institutions such as Visa, PayPal and Mastercard charge flat fees for managing transactions.
Foreign Transaction Fees (1–3%)
A transaction usually requires different denominations. As a result, foreign transaction fees are charged for transactions made outside the country where the user credit/debit card was issued.
Currency Conversion Fees (1%)
Currency Conversion Fees result from the Dynamic Currency Conversion (DCC), a fee charged to see the transaction cost in your preferred currency. DCC rates are worse than traditional rates, but some platforms charge a currency conversion fee unknown to the user.
Privacy and Security
PIE provides a seamless user experience based on trust and security using Blockchain technology. By using its in-house PIE token, Pieme provides its hosts and guests with privacy, security, and freedom to carry out event and meal transactions without third party interference.
PIE token buybacks and burn
Pieme will generate revenue by offering advertising space to brands and charging a small commission of 5–10% on paid meals and events organized on the platform.
30% of the profit generated will be distributed to PIE token holders who stake their tokens.
The remaining balance will be used to buy back PIE from the market and be burned until we remain with 60% of the total supply.
For transparency, this will always be publicly communicated and published with transaction IDs.
PIE Token and its Launch Date
The token will be running on the Binance Smart Chain as a BEP20 standard token with a maximum number of 100,000,000 PIE tokens.
PIE TGE will be conducted in Q4 of 2021.
“The Authentic home-cooked local dishes: For us, By us“