• Fluidity Money, a DeFi protocol, has launched a cashback program with Request Finance.
• The rewards are paid out in stablecoins and can be earned by users and merchants that use Fluidity and Request Finance.
• Fluidity Money’s “Fluid Assets” are obtained by depositing stablecoins into the app, with 80% of the yield generated used to finance cashback rewards.
Fluidity Money Launches Cashback Program
Fluidity Money, a decentralized finance (DeFi) protocol, has launched a cashback program with Request Finance, an enterprise crypto payments app. The cashback program allows businesses to reward customers who pay in crypto as well as merchants who 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.
Rewards Paid Out In Stablecoins
The rewards are currently paid out in stablecoins. However, 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 the NFTs represent this could include tickets to token-gated experiences, merchant credits like air miles, digital collectibles and more.
How It Works Under The Hood
Fluidity Money provides crypto payment apps like Request Finance with a novel way of financing rewards that pay out in stablecoins without imposing high fees on merchants or high-interest rates on consumers. To mint a Fluidity stablecoin an equivalent amount of that specific stablecoin like USDC or USDT must be deposited into a smart contract. The deposited stablecoins are then lent to other DeFi protocols such as Compound and eighty percent of the yield generated is used to finance the cashback rewards. As more people use Fluidity Money’s wrapped stablecoins, larger cashback payouts will be possible for all involved parties.
On The Flipside
Shahmeer Chaudhry CEO of Fluidity Money said: „Request Finance helps thousands of enterprise teams and DAOs use stablecoins easily – we wanted to work with them to introduce this cashback program as a fun way of rewarding people for using stablecoins for payments.“
Fluidity Money’s new cashback program is great news for businesses who want to reward customers when they make payments in crypto as well as merchants who accept these payments – all whilst enjoying low fees and no interest rate charges! With plans underway for expanding their offering further it looks likely that even more exciting opportunities may become available soon!