• Fluidity Money, a decentralized finance (DeFi) protocol, has launched a cashback program with Request Finance.
• The cashback rewards are currently paid out in stablecoins, and Fluidity plans to expand its offering to other loyalty programs.
• Fluidity Money’s wrapped stablecoins generate yield that is used to finance the cashback rewards.
Fluidity Money, a decentralized finance (DeFi) protocol, has launched a cashback program with Request Finance, an enterprise crypto payments app. The rewards are paid in stablecoins and there will be future plans for other loyalty programs as well.
The cashback program allows businesses to reward customers who pay in crypto and merchants can also earn cashback rewards when they accept crypto payments. Each time a payment is made in the app, both the sender and recipient can earn stablecoins randomly distributed into their wallets after each payment.
Fluidity Money provides crypto payment apps like Request Finance with a novel way of financing rewards that pay out in stablecoins and does not impose high fees on merchants or high-interest rates on consumers. Wrapping the stablecoins via Fluidity Money is key to generating cashback rewards. To mint a Fluidity stablecoin, an equivalent amount of that specific stablecoin must be deposited into a smart contract so it can be lent out to other DeFi protocols such as Compound; 80% of the yield generated from these loans is used to finance the cashback rewards.
Future Loyalty Programs
Fluidity Money has plans to expand its offering to other loyalty programs which could see other types of rewards like non-fungible tokens (NFTs) being disbursed in the future; depending on what these NFTs represent, it could allow crypto payment apps like Request Finance offer tickets to token-gated experiences, merchant credits like air miles, digital collectibles and more.
In conclusion, Fluidity Money’s innovative approach provides users with an easier way of earning cryptocurrency through their spending habits while rewarding businesses for accepting payments in cryptos without charging them high fees or interest rates. Furthermore, they have plans for expanding its offerings by introducing different types of loyalty programs which will provide users with additional incentives for using their services.