đUtility
Last updated
Last updated
Users can use $PWG to pay for transactions with participating merchants. When users choose to pay with $PWG, they will not need to pay for gas fees normally associated with making a transaction.
The $PWG token is also needed by merchants to access premium features on the platform through staking. A fixed number of $PWG is needed to unlock Paywong Pro features such as 0% transaction fees, sales analytics and more.
Paywong is looking to roll out a rewards program that allows users to earn $PWG tokens. Users earn tokens by transacting with Paywong merchants, similar to a cashback program offered by credit card companies. This provides an incentive for users to pay with crypto and helps to increase the platform's adoption.
The protocol earns an average of 0.75% on all transactions from businesses that integrate crypto payments into their business.
Fees are taken for every successful transaction. 50% of the fees earned will be used to buyback $PWG tokens from available liquidity. Users paying with crypto will also earn cash-back in the form of $PWG
Below illustrates how the transaction fee is collected and used.
