• Fluidity Money, a DeFi protocol, has launched a cashback program with Request Finance.
• Customers and merchants using the app will be rewarded in stablecoins.
• The rewards are financed by wrapping stablecoins into Fluidity’s smart contracts and then lending them out to other DeFi protocols.
Fluidity Money Launches Cashback Program with Request Finance
Fluidity Money, a spend-to-earn decentralized finance (DeFi) protocol, has announced the launch of their cashback program on Request Finance, an enterprise crypto payments app. Customers and merchants who pay or accept payments within the app can now earn rewards paid in stablecoins.
How Does It Work?
The cashback rewards are generated when users wrap their stablecoins like USDC and USDT into Fluidity’s smart contracts. The deposited coins are then lent to other DeFi protocols like Compound where they generate yield which is used to finance the rewards. Every time a payment is made in the app, both sender and recipient can receive random amounts of stablecoins disbursed directly into their wallets after each payment.
Expanding Loyalty Programs
Currently only stablecoins are paid out as rewards but Fluidity Money has plans to expand its offering to include other loyalty programs such as non-fungible tokens (NFTs). NFTs could potentially allow for businesses to reward customers for using crypto payments with tickets, digital collectibles, merchant credits like air miles or token-gated experiences depending on what the NFT represents.
Rewarding Payments With Stablecoins
Shahmeer Chaudry CEO of Fluidity Money sees this new program as an innovative way of rewarding people for making payments in crypto: „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.“
Conclusion
Fluidity Money’s wrapped stablecoin solution allows businesses to offer generous rewards while avoiding high fees or interest rates on consumers. With plans to expand its offering beyond just stablecoin rewards and include NFTs in loyalty programs, this could open up exciting new opportunities where customers can access token gated experiences or even digital collectibles when they make crypto payments through apps like Request Finance.