CanYa coin - The world’s best cryptocurrency-based autonomous marketplace of services.
CanYa is a recently launched working, feature rich platform
in the home & digital services industry. The platform is currently
made up of mature iOS & Android apps to find, book, pay and
review service providers. A web app is in beta. Payments are
currently in Australian fiat.
The CanYaCoin (CAN) will soon power the platform’s payment
system, enabling a decentralised, trustless and hedged escrow
service, a single bridge between fiat and a variety of
cryptocurrencies, a powerful rewards system to encourage
network effects, and incentivised user-curation and userarbitration.
The CanYaCoin is unique in that it exhibits both
stable properties whilst being utilised as a currency, and growth
properties from user-demand.
CanYa is hoping to raise 78,000 ETH by selling 60,000,000
CanYaCoins. Funds raised will be used to integrate the
cryptocurrency payment layer, provide liquidity for the hedged
escrow contract, expand features and undertake an aggressive
global launch with marketing, translations and infrastructure.
CanYa is the ultimate link between crypto and the real world,
where the ERC20-based coin is backed by the value of skilled
human services, valued at $2tn globally. The coin can be spent
in the platform and converted to real world skilled labour. A
freemium subscription model provides a constant demand for
the coin and a revenue stream for the platform. By integrating
fiat payment gateways, CanYaCoin will be a legitimate gateway
of fiat into crypto, enhancing the entire ecosystem and
accelerating mainstream adoption.
The CanYaCoin sale allows users an opportunity to participate in
the crowdfunding event i
The CanYa platform is a fully featured marketplace of peer-to-peer services that consists of iOS & Android
apps and a beta web-app. CanYa includes inbuilt chat, VoIP, calendar, alerts, payments, listing management,
reviews, quotes, direct bookings, detailed pricing, job broadcast, multi-user jobs and more.
(1) As a client, you will load your CanYa wallet with CanYaCoin, crypto and supported fiat currencies.
(2) As a client, you can instantly pay for services locally and globally, with no fees. CanYa supports most peerpeer
services with an emphasis on home & digital services. Users help curate and verify new services and
providers with reviews.
(3) As a service provider, you will earn CAN for your skills and services. Spend in the app, or exchange for free
and send immediately to a Bitcoin or an Ether wallet.
(4) As a service provider, freely advertise your skills and services to a micro-local & global marketplace, or pay
a small monthly subscription for enhanced featured status. CanYa is a true meritocracy — the best
providers get the most exposure and work.
“Book & pay my cleaner with crypto? I’m in!”
CanYa was beta-launched in a small Australian city (Darwin) in
late December 2016, and then soft-launched in a major
Australian city (Adelaide) in January 2017. CanYa has been
successfully tested in a market and has an existing user-base.
CanYa is a peer-to-peer platform where clients choose &
interact directly with the person who will be providing the
service instead of a third-party. Using smart contracts, the
platform will provide a trustless, secure and fast payment layer.
CanYa is suitable to a vast array of different services, from
professional licensed services to casual per-hour services.
CanYa currently has over 200 services and 400 different
skills listed for providers, all submitted by users. CanYa
includes features that make it flexible for mobile services,
brick-and-mortar services, one-time jobs, recurring and
CanYa's content is primarily user-generated & rapidly scalable. Providers add listings themselves and can
request further services, skills and licences.
SELF-CURATING AND SELF-BALANCING
CanYa is a true meritocracy and is thus self-curating; providers with good reviews will see more exposure
and thus more work. Good providers will see high demand and can afford to start charging higher rates.
An Autonomous Marketplace of Services
CanYa automatically assesses and ranks providers on 15 different metrics, including:
New providers are given a 7 day exposure boost to ensure they can penetrate an established provider base.
All providers are given the opportunity to continually improve their profile and behaviour to ensure maximum
CanYa is an end-to-end solution; discovery, engagement, booking, job tracking, payment, receipt
issuance and review capture. CanYa also includes free media-rich messaging, free voice calling, and a
free quote & invoice service.
SMART WITH MACHINE LEARNING
The worst experience with hiring services is usually caused from hiring the
wrong service. CanYa is using the thousands of job requests processed in
the platform, together with the listed skills and descriptions, to train ML
algorithms to better match job requests with the right providers, and to
extract the right information from users easily.
In future, users will simply ask the platform for help, and the right providers
are immediately notified. This vastly improves the experience of the platform
CHAT BOT ENGAGEMENT
CanYa have already built and implemented a media-rich messaging service
native to the app, and sees thousands of messages sent between users
each week. CanYa is in the early stages of building a smart chat-bot to
engage users and providers. The chat service can be used to process job
requests, as well as helping providers manage their schedule.
Ethereum smart contracts provide a trustless hedged escrow which protects currency value for users, as well
as processing the platform revenue stream and disseminating rewards for incentivised network effects.
TRUSTLESS HEDGED ESCROW Under Development
At the heart of the transaction process is a smart contract that holds secured funds for the provider. With
an Ethereum smart contract, the user does not need to trust the platform or the third-party to send their
funds. By immediately collaterising the hedged funds with a store of value such as Bitcoin, Tether or XAU,
the value of the escrow can be protected with the certainty of the underlying store of value — all with zero
An example of the process:
Step 1 - A client books a provider for $100 and sends funds to a smart contract. Immediately an
equivalent $100 from the store-of-value base is collected in a hedge contract.
Step 2 - The provider completes the job and sends the $100 invoice.
Step 3 - The client releases the payment.
-> The value of the escrow has reduced to $90: $10 is exchanged from the hedge to pay the
-> The value of escrow has increased to $110: $10 is exchanged out to maintain a $100 invoice.
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CanYa has already built an effective automatic dispute resolution system, but this will be enhanced with a
smart contract. The smart contract holds the funds, but allows both parties to take recourse against each
other and encourages them to negotiate. The client can dispute the invoice, and the provider can amend
or terminate the invoice.
If the negotiation is fruitless, either user can request arbitration from CanYa at a non-refundable cost of
5%, deducted from the escrow at any time. This minimises the burden of customer service. In the
roadmap, this arbitration can be out-sourced to other neutral users to perform in return for the 5% fee.
TRUSTLESS PAYMENT AUTOMATION Planned
Smart contracts allow for the automation of many business process that can
execute without trust from any involved party. For CanYa, this includes
deposits, milestone payments and even recurring payments.
For a deposit, the provider specifies that a certain amount of the job be paid
upfront, with the rest held in escrow. For milestone payments, the provider
breaks the job into smaller parts and is paid incrementally. The provider can set
milestones themselves, which execute payments on request, or are timebased.
After each payment, the smart contract holds the next milestone
payment in escrow. The smart contract also handles recurring payments,
paying the provider out on terms that they agree with the client.
If a provider amends or issues an invoice lower than the escrowed amount, the
remainder is refunded to the user when they release the funds. If the provider
amends an invoice to a higher amount, a smart contract will pay out the full
amount, and deduct the remainder from the client’s wallet.
Initial Coin Offering
The CanYa coin pre-sale will commence in October 2017. The pre-sale will support the coin sale and help
grow the team for success. The coin sale will accept ETH.
There will be precisely 100,000,000 coins in circulation. The public coin sale will be conducted over four stages
and will commence in November 2017.
The stages will not progress until the previous is fulfilled. At the conclusion all unsold coins will be reserved by
the Company. Options for the reserved tokens include a further sale, utilising a market-marker to protect coin
volatility, or dissemination into the liquidity or Rewards Pool.
There will be a hard cap of 60,000,000 CanYa coins available for sale.
The total supply of coins will be fixed and disseminated in the following manner:
Marketplaces are very responsive to network effects; the more providers list themselves, the more clients
will use them. The team have built a native rewards system that incentivises the following user-behaviours:
(1) Encouraging users to sign up and use the platform
(2) Referring friends to the platform
(3) Encouraging friends to use the platform
With the CanYaCoin, these behaviours can be encouraged and rewarded with tangible value.
CanYa currently incentivises users to refer their friends to the platform by giving them
$10 credit. In the future, CanYaCoins will be issued for each successful referral. Each user is given a unique
referral code and link, with valid referrals being tracked through this code.
If a new user signs up with a friend’s referral code they are immediately issued credit
to encourage them to make their first transaction (currently $10).
CanYa will incentive users to make transactions by issuing a 5% cash back on each transaction. For example,
if Tim pays his web-developer 100 CAN, then he will immediately receive 5 CAN coins after the transaction.
This is a complete disruption of traditional payments, where users incur fees when they transact. With CanYa,
they are paid to pay, rewarding active users.
CanYa has an in-built incentive users to encourage their friends to use the app by
issuing a 2-4% commission if their friend spends or earns in the platform. For example, if Bob refers Jane, for
every 100 CAN Jane spends or earns, Bob will be paid 2 CAN. This will encourage users to refer power users
and providers, in turn maximising adoption of the platform.
The Rewards Pool will hold 20% of the minted coins after the Coin Sale and will be held in a smart contract.
Once the Coin Sale is completed, the total number of coins is recorded as the baseline amount. Each time the
number of coins in the pool decreases by half, all rewards are also halved. In this manner, Rewards will
constantly be issued, no matter the amount left, on an asymptote to zero.
The Rewards Pool is topped up monthly by allocation from the Asset Contract. If usage of the platform
increases, the Asset Contract will increase the amount of contained in the Rewards pool, thereby returning the
dissemination to an equilibrium.