
PATGEN
PATGEN Stable Currency – Decentralised Fixed Exchange Rate System
PATGEN is a stable, decentralized currency that does not create differences in economies. The code of PATGEN Stable Currency is PTGN. PTGN is a code that unifies all African Countries as a Single Global Community. Any individual or business can realize the advantages of digital money through PTGN.
The PATGEN STABLE CURRENCY
The PATGEN stable currency is a decentralized, unbiased, and digital money soft-pegged to all the currencies of countries in African Continent . PATGEN Stable currency is held in PATGEN Wallet or estate contracts (ESTCON) accounts which is currently accessible only on Penvestor Estcon trading platform. Internet-based businesses can also use it as means of payment for their products or services.
PATGEN stable currency. is easy to generate, access, and use. Users generate PATGEN by depositing fiat currencies into Penvestor Global Concepts official Account. This is how PTGN is entered into circulation and how users gain access to liquidity. Others obtain PTGN by buying it from brokers or exchanges, or simply by receiving it as a means of PAYMENT for products or services .
Once generated, bought, or received, PATGEN Stable currency can be used in the same manner as any other currency: it can be sent to others, used as payments for goods and services, and especially, used for trading estate contracts for profits.
What Properties of PATGEN Function Similarly to Money?
Generally, money has four functions:
A store of value
A medium of exchange
A unit of account
A standard of deferred payment
PATGEN Stable currency has properties and use cases designed to serve these functions.
PTGN as a Store of Value
A store of value is an asset that keeps its value without significant depreciation over time. Because PTGN is a stable currency, it is designed to function as a store of value even in a volatile market.
PTGN as a Medium of Exchange
A medium of exchange is anything that represents a standard of value and is used to facilitate the sale, purchase, or exchange (trade) of goods or services. The PATGEN stable currency is used around the world for all types of transactional purposes.
One can send and receive PATGEN Stable Currency (PTGN) through the PATGEN WALLET.
PATGEN Wallet is a decentralised payment network that runs the PATGEN stable currency.
PTGN as a Unit of Account
A unit of account is a standardized measurement of value used to price goods and services. Currently, PATGEN Stable currency has a target price of 1000 Units of Base (Fiat) Currency used in any of the 54 African Countries, and other countries of the world.
Here are the Target Direct Conversions of PTGN to other Currencies.
- 1 PATGEN (PTGN) – 1000 Algerian Dinar (DZD)
- 1 PATGEN (PTGN) – 1000 Angolan Kwanza (AOA)
- 1 PATGEN (PTGN) – 1000 West African CFA Franc (XOF)
- 1 PATGEN (PTGN) – 1000 Botswana Pula (BWP)
- 1 PATGEN (PTGN) – 1000 West African CFA Franc (XOF)
- 1 PATGEN (PTGN) – 1000 Burundian Franc (BIF)
- 1 PATGEN (PTGN) – 1000 Central African CFA Franc (XAF)
- 1 PATGEN (PTGN) – 1000 Cape Verdean Escudo (CVE)
- 1 PATGEN (PTGN) – 1000 Central African CFA Franc (XAF)
- 1 PATGEN (PTGN) – 1000Central African CFA Franc (XAF)
- 1 PATGEN (PTGN) – 1000 Comorian Franc (KMF)
- 1 PATGEN (PTGN) – 1000 Congolese Franc (CDF)
- 1 PATGEN (PTGN) – 1000 Central African CFA Franc (XAF)
- 1 PATGEN (PTGN) – 1000 Djiboutian Franc (DJF)
- 1 PATGEN (PTGN) – 1000 Egyptian Pound (EGP)
- 1 PATGEN (PTGN) – 1000 Central African CFA Franc (XAF)
- 1 PATGEN (PTGN) – 1000 Eritrean Nakfa (ERN)
- 1 PATGEN (PTGN) – 1000 Swazi Lilangeni (SZL) and South African Rand (ZAR)
- 1 PATGEN (PTGN) – 1000 Ethiopian Birr (ETB)
- 1 PATGEN (PTGN) – 1000 Central African CFA Franc (XAF) : Gabon
- 1 PATGEN (PTGN) – 1000 Gambian Dalasi (GMD)
- 1 PATGEN (PTGN) – 1000 Ghanaian Cedi (GHS)
- 1 PATGEN (PTGN) – 1000 Guinean Franc (GNF)
- Guinea-Bissau: 1 PATGEN (PTGN) – 1000 West African CFA Franc (XOF)
- Ivory Coast (Côte d’Ivoire): 1 PATGEN (PTGN) – 1000 West African CFA Franc (XOF)
- 1 PATGEN (PTGN) – 1000 Kenyan Shilling (KES)
- 1 PATGEN (PTGN) – 1000 Lesotho Loti (LSL) and South African Rand (ZAR)
- 1 PATGEN (PTGN) – 1000 Liberian Dollar (LRD)
- 1 PATGEN (PTGN) – 1000 Libyan Dinar (LYD)
- Madagascar: 1 PATGEN (PTGN) – 1000 Malagasy Ariary (MGA)
- 1 PATGEN (PTGN) – 1000 Malawian Kwacha (MWK)
- Mali:1 PATGEN (PTGN) – 1000 West African CFA Franc (XOF)
- 1 PATGEN (PTGN) – 1000 Mauritanian Ouguiya (MRU)
- 1 PATGEN (PTGN) – 1000 Mauritian Rupee (MUR)
- 1 PATGEN (PTGN) – 1000 Moroccan Dirham (MAD)
- 1 PATGEN (PTGN) – 1000 Mozambican Metical (MZN)
- 1 PATGEN (PTGN) – 1000 Namibian Dollar (NAD)
- Niger: 1 PATGEN (PTGN) – 1000 West African CFA Franc (XOF)
- 1 PATGEN (PTGN) – 1000 Nigerian Naira (NGN)
- 1 PATGEN (PTGN) – 1000 Rwandan Franc (RWF)
- 1 PATGEN (PTGN) – 1000 São Tomé and Príncipe Dobra (STN)
- Senegal: 1 PATGEN (PTGN) – 1000 West African CFA Franc (XOF)
- Seychelles: 1 PATGEN (PTGN) – 1000 Seychellois Rupee (SCR)
- 1 PATGEN (PTGN) – 1000 Sierra Leonean Leone (SLL)
- 1 PATGEN (PTGN) – 1000 Somali Shilling (SOS)
- 1 PATGEN (PTGN) – 1000 South African Rand (ZAR)
- 1 PATGEN (PTGN) – 1000 South Sudanese Pound (SSP)
- 1 PATGEN (PTGN) – 1000 Sudanese Pound (SDG)
- 1 PATGEN (PTGN) – 1000 Tanzanian Shilling (TZS)
- Togo: 1 PATGEN (PTGN) – 1000 West African CFA Franc (XOF)
- 1 PATGEN (PTGN) – 1000 Tunisian Dinar (TND)
- 1 PATGEN (PTGN) – 1000 Ugandan Shilling (UGX)
- 1 PATGEN (PTGN) – 1000 Zambian Kwacha (ZMW)
- 1 PATGEN (PTGN) – 1000 Zimbabwean Dollar (ZWL)
For International transactions : 1 PATGEN (PTGN) = 1000 Units of any Fiat Currency . While PATGEN is can also be used as a standard measurement of value in the off-chain world, it basically functions as a unit of account within the Penvestor Estcon trading platform.
PATGEN as a Standard of Deferred Payment
PATGEN is used to settle debts within the Penvestor ecosystem (e.g., users use PATGEN to pay the contract fees and Agency charges). This benefit separates PATGEN from other stable currencies.
PATGEN will not face any market risks such as Black Swan events, liquidity crunches, etc as reserves are maintained in a one-to-one ratio rather than relying on market forces.
Flow of PATGEN Funds Process
There are five steps in the lifecycle of a PATGEN:
Step 1: User deposits fiat currency into Penvestor Global Concepts bank account.
Step 2: Penvestor Global Concepts generates and credits the user’s PATGEN account. PATGEN enter circulation.
Amount of fiat currency deposited by user = amount of PATGEN issued to user (e.g 10,000 NGN deposited = 10 PTGN
issued;10,000 XOF deposited = 10 PTGN
issued;).
This is also applicable for International transactions with USD where 1000 USD deposited = 1 PTGN issued.
Step 3: Users transact with PATGEN . The user can transfer, exchange, and store PATGEN via a P2P or trading Brokers.
Step 4: The user deposits PATGEN with Penvestor Global Concepts for redemption into fiat currency.
Step 5: Penvestor Global Concepts destroys the PATGEN and sends fiat currency to the user’s bank account.
The main concept to be conveyed by the Flow of Funds Stages is that Penvestor Global Concepts is the only party who
can issue PATGEN into circulation (create them) or take them out of circulation (destroy them). This is the
main process by which the system solvency is maintained.
Risk in use of PATGEN and Mitigation Responsibilities of Governance
The successful operation of the PATGEN Stable Currency depends on Penvestor Group Governance taking necessary steps to mitigate risks. The major risk is identified below, followed by a mitigation plan.
A malicious attack on the Estate Contracts (ESTCON) infrastructure by a bad actor.
One of the greatest risks to the Penvestor Estcon trading (that runs on PATGEN technology) is a malicious actor—a programmer, for example, who discovers a vulnerability in the deployed PATGEN stable currency, and then uses it to break the Network or steal from it.
In the worst-case scenario, all Allotted digital assets held as traders in the Network are stolen, and recovery is impossible.
Mitigation: The Penvestor Group highest priority is the security of the Maker Protocol, and the strongest defense of the Protocol is Formal / Annual Verification. The PATGEN Technology algorithm was the first African Based application to be formally deployed on Trust Interfaces.
Legal and Compliance
Penvestor Global Concepts is a limited company incorporated pursuant to the Penvestor Estcon Trading Group.
Penvestor Global Concepts is registered as a Money Services Business with the Economic and Financial Crimes Commission of the Federal Republic of Nigeria.
Penvestor is establishing relationship with African financial institutions for purposes of better servicing PATGEN users in the African Continents.
Penvestor only has a dedicated account with Fidelity Bank in Nigeria, whom is
aware and confident that Penvestor’s business model is acceptable.
These banks are satisfied with our processes and also satisfied that our business operates in accordance
with African offshore trading regulations, as all of the banks had been requested to check this with their
own legal, compliance and headoffice before opening accounts (also at our own request).
Conclusion
Penvestor allows users to generate or mint PATGEN, a stable store of value that lives entirely on the Pan-African Trans-Generational Network. PATGEN is a decentralized stable currency that is not issued or administered by any centralized actor or trusted intermediary or counterparty. It is unbiased and borderless —available to anyone, anywhere.