Protocol DeFi Fluidity Cash has launched a cashback scheme that enables businesses to reward customers who use crypto to pay for goods and services.
By rewarding users each time they use their crypto for money, the goal is to encourage more people to do so—the “spend-to-earn” campaign partners with enterprise crypto funds app Request Finance in response to Fluidity.
Stablecoin rewards for cashback
According to Fluidity, the new cashback program may allow merchants to receive rewards when combining cryptocurrencies.
“Request Finance facilitates the usage of stablecoins by hundreds of business organizations and DAOs. The CEO of Fluidity Cash, Shahmeer Chaudhry, said, “We needed to work with them to establish this cashback program as a fun way to reward people for using stablecoins for funds.
Every time a sender or recipient uses the app, the system will reward them with a stable coin like Tether. Customers will benefit from a loyalty program if the payback isn’t eaten up by exorbitant interchange fees, as with credit card-like programs.
The platform suggested that the cashback benefits might be distributed randomly and sent directly to users’ pockets.
While support is now only available for stablecoin payouts, Fluidity Cash intends to expand this system to other loyalty options. It will eventually incorporate non-fungible tokens (NFTs) and other prizes. In this situation, Request Finance will offer rewards based on the type of NFT.
Air miles, digital collectibles, and tickets to token-gated options will all be included in payouts from NFT-related offers.
How is Fluidity Cash functional?
Wrapped stablecoins, also known as “Fluid Property,” are used by Fluidity Cash. Stablecoins like USD Coin (USDC) and Tether (USDT) are deposited into the Fluidity Web app to purchase these fluid possessions. The cashback rewards are then created by wrapping the stablecoins.
A wise contract must contain an identical amount of USDC or USDT, which are then given to DeFi protocols for yield technology to mint any Fluidity stablecoins.
Bramah Techniques audits fluidity sensible contracts and the payback program receives 80% of the yield from processes like compound.