Note from Igor: CS Coin economics in Credits wallets
On this note, I would like to share with you our strategy for CS coin economics within our future mobile banking Credits Wallet. I hope this will answer the question of why we need a wallet and how it will bring new Credits and CS users as well as which functions CS will play in the wallet.
During our ICO, we set a target to build a unique blockchain protocol and this has been achieved. However, blockchain is just software. It is a low first layer solution for developers and business. It is like a programming language C++/Java or cloud storage of tokens issued. It is not a service by itself, which can be utilized by users. Consumers are ready to use blockchain when it is adopted and released in products and simplified for everyday life.
Credits Wallet is a bridge between the consumer and the Credits blockchain platform, fiat, and the crypto world. It will facilitate the usage of the platform and CS. We are simplifying the process of CS purchasing via Visa/Mastercard and traditional payment methods. Every account in the App will automatically become a user of the platform: CS, tokens, and stable coins.
Below I have summarized several potential solutions that we plan to launch very soon (all or some of them).
Higher cashback rates for those holding more coins. From 0.5% as a minimum to 5% who has $50k in CS
Lower transaction and payment fees for those holding a certain amount of CS: the more CS you keep, the lower the commission
App service monthly fee charge in CS
Incentive with CS rewards to engage users to use Credits products and services
By bringing in these features in the App we are aiming to invite new customers and increase the recognition of the Credits platform and products.
There are millions of potential customers who we invite to onboarded in 2021 when all services and locations are added. It’ll bring revenue streams to the company in the future and will make the project appealing to venture capital investors. Of course, we are going to spend a part of our profit on further developments and popularization of the Credits blockchain platform and products.
I hope you found this short explanation of our strategy for CS coin worldwide acceptance interesting.
Be with us, more news to come.
CEO of Credits.