Allvor – cryptocurrency for e-commerce, powered by Ripple’s Ledger

April 2, 2018 by Cameron Bishop

Allvor is the first cryptocurrency issued in the Ripple (XRP) Ledger with a focus on e-commerce. Allvor proposes integrating the Ripple (XRP) Ledger’s superior technology with systems and protocols used in e-commerce as a way to boost the cryptocurrency use on a global scale.

ALV is the native token of the Allvor platform. Users can manage their balance, send payments and trade ALV by using the same Ripple wallet that is used to store, send payments and trade XRP.

Payment Solutions

Allvor’s main development and partnership efforts will be aimed at enabling the effective use of ALV in businesses. These efforts will contemplate numerous actions, but we would like to highlight 5 main actions:

• Plugin for the Magento platform – Magento is an open source e-commerce platform used by thousands of virtual stores around the world. The Allvor plugin for Magento will enable merchants to receive, in a simple and prompt way, ALV payments in their virtual stores.
• Plugin for the WooCommerce platform – WooCommerce is also an open source e-commerce platform, developed as an extension to wordpress, the most widely used online content management platform in the world. The Allvor plugin for WooCommerce will enable merchants to receive, in a simple and prompt way, ALV payments in their virtual stores.
• Integration with Online Payment Providers (such as Stripe and others).
• Integration with Cryptocurrency Debit Card Providers (such as Wirex and others).
• Hybrid Payment Gateway- payment gateways that can receive ALV payments and process payments to sellers in both ALV and local currency, in the location (country) where the HPG operates. The great differential of the HPGs is that the necessary transactions (payments and currency exchange) can be fully supported by the resources available in the XRP Ledger.

No ICO

Allvor will not do an ICO or a crowdfunding to raise funds. Its initial distribution will be made directly to the XRP holders community under the Initial Distribution program.

Initial Distribution Program

The initial distribution of Allvor will be performed from the Allvor Initial Distribution Program. Ripple account holders will be able to receive, directly into their accounts, a predetermined amount of ALV. The amount of ALV to be received corresponds to the amount of XRP that was held in the users Ripple account at 01:00 (GMT 00) on March 28, according to the calculation performed by Allvor, Ledger 37539810, increased by 30% from the same amount, added to the standard amount of 5,000 ALV, limited to the maximum amount of 1,000,000 (one million ALV).

The ALV tokens have already been fully issued and are not subject to mining. The complete issuance has 100,000,000,000 ALV. ALV will gradually enter into circulation, according to the demands of the project, and the forecast is that it will only reach full circulation by 2030.