International Association for the Legitimate Acceptance / Adoption of Palai.
How the Rates of Exchange are calculated?
International Association for the Legitimate Acceptance / Adoption of Palai.
How the Rates of Exchange are calculated?:
What is it that Palai is?
Palai is a currency with evaporation and basic income. The unit of the currency is also called “Palai”, abbreviated as “¶”. Both the singular and the plural are “Palai”. Thus, it is said “one Palai” or “seven Palai”.
Hence Palai it is a currency then, its value will vary from time to time.
iALAP.org is the organization that provides a reliable “Rate of exchange” so the users of Palai they have a way to accurately measure the Palai value towards other currencies in the world.
How this “Rate of exchange” is calculated?
First: We receive an email with someone attempting to complete a commercial transaction. In the email it is explained what people intend on trading.
For example: An employee worked 4 hours at a rate of £30.00 for his or her salary and both parties had agreed on using Palai for this transaction. They have already reviewed the last rate of exchange and found out that on October 22, 2022 at 1:00 UTC the Rate of Exchange was £0.10256 for 1.00¶ so; 4 hours multiplied by £30.00 equals £120.00 then; they divided this £120.00 by £0.10256 to come up with the amount of 1,170.04¶ to be paid.
In this case the employer is attempting to pay to the employee 1,170.04¶ and; as soon as iALAP.org has received this amount in Palai and the employer has confirmed that they are satisfied with the work performed then iALAP.org proceeds to release this funds and pay the employee.
The time and date produced at Palai.org for when this payment occurred then it will be used to convert and create the new Rate of Exchange to whatever the current market value it is for £1.00 to any of the other currencies listed in the Rate of Exchange.
Example: GBP to USD, GBP to CNY, GBP to INR; etc.
How does this Rate of Exchange will change?
Simple: Lets say the last transaction we did verified was completed and, the mathematics produced a value of £0.10256 for 1.00¶
Then we do have a new transaction pending to be completed and the equivalent of £0.10256 to INR was ₹ 9.3304 (just as an example) on the date of the last Rate of Exchange published.
They state in their email the intend on making a payment this time around in INR and the corresponding equivalencies of ₹ to ¶.
This new payment will “Lock” the Value of 1.00 ¶ versus INR for the Rates of Exchange thus releasing the previous value of £0.10256 for 1.00¶ from this lock
Whatever currency it is currently holding the lock then on the most recent Rate of Exchange published will be listed as no change or using the symbol “=”
Whatever was the equivalencies of ₹ to ¶ at that time will be the reference value for every one to conduct a transaction using Palai. This equivalencies towards other currencies will remain in place until the following “verified transaction” has taken place thereafter will release the 1.00 ¶ versus INR “lock” and enabling any other currency to take this “lock” place.
And so on…
Palai.org is a separate entity completely different from iALAP.org.
We did not create Palai as a currency, yet without iALAP then Palai is lacking the necessary trust, validity and transparency that the users of Palai need.
The Future has arrived.
PalaiFest
May 22, 2023
Anytown, YOUR TOWN.
Orange Pages
View a list of who and where Palai is accepted.
Questions & Answers
Get the answers to common questions associated with the usage of our service and pay using Palai.
Wall of Shame
List of accounts that tarnished Palai or iALAP
Vision for the future
What do we envison for ourselves?
Were are we heading?
Get the answers to common questions associated with the direction we are heading.
1 ¶ =?
What are the most current Rates of Exchange?
Historicals:
View the Transaction Data used for us to calculate the Rates of Exchange.
Donations:
Make a donation in Palai using the Palai you already own.
Membership
Becoming a Member.
News
What is happening? and Where? THE LATEST.
I got a wish
Fulfill someone’s wish and get paid USING PALAI.
Supply
List of things we intend on accquiring: Get paid USING PALAI.
Store
List of things you could purchase from our store: PALAI GEAR.
To Start a Transaction
Send us an email to: exchange@ialap.org and; let us know what is that you intend on trading as well as its current commercial value in your local currency. Please do not forget to tell us how much Palai you would like to receive for your trade.
REASONS:
Rome was not built in a day.
iALAP.org is being developed as we speak.
We are creating the future.
Care to become a part of the future?
Register your self and start trading on Palai.org
IALAP.org 