CoinbarPay (CBPay) core token features of the BCO minted on XDB CHAIN

CoinbarPay, at the forefront of Web3 payment solutions, announced on January 17, 2024, the forthcoming introduction of an innovative ecosystem cryptoasset on the XDB CHAIN. This marks a pivotal advancement in blockchain-enabled retail and payment technologies.

The newly unveiled cryptoasset, crafted as a utility token, introduces a novel onboarding and loyalty system aimed at benefiting both consumers and merchants alike. This move is set to catalyze the adoption of crypto within the CoinbarPay ecosystem, reinforcing its position as a leader in the digital crypto space.

Highlighted below are the key features of the CoinbarPay token (CBPay), a significant addition to the suite of Branded Cryptocurrencies (BCO) on the XDB CHAIN, poised to strengthen  and expand the capabilities of this burgeoning crypto ecosystem.

CoinbarPay (CBPAY) Overview: Leveraging adoption  of mainstream crypto payments  
Building on the success of the CoinbarPay product, which already boasts a reach of thousands of merchants, the CoinbarPay token (CBPAY) introduces an ecosystem poised to redefine engagement within the crypto space. By integrating a sophisticated utility system with the proven CoinbarPay platform, CBPAY aims to enhance the transactional experience for merchants, consumers, and promoters, fostering a community of growth and shared benefits.

How Does the CBPay Reward System will work?
Joining the CoinBarPay ecosystem during the early stages offers a great opportunity: receiving an airdrop of CBPay tokens that confers an early-bird status. This prestigious level rewards both merchants and consumers for each cryptocurrency payments made within the CoinBarPay network. Holding more CBPay tokens elevates stakeholders’ status and amplifies their rewards. Additional rewards will be provided in case CBPAY is used as a medium of exchange. Accumulating and staking CBPAY tokens further elevates stakeholders’ status and unlocking exclusive bonuses for introducing new paying customers or adding new merchants to the platform. Step into an engaging and rewarding economy designed to celebrate an active ecosystem of participants who leverages the adoption of cryptocurrencies and cryptoassets in general.

Transparent Model
This reward system is structured with transparency at its core. A set percentage of the total CBPay supply is dedicated to rewarding users, which means resilience and sustainability by design of the reward pool.

Deflationary Mechanism
CBPAY employs a token burn approach to mitigate potential inflation arising from the generation of rewards. This strategy now features an enhanced mechanism for executing additional token burns, which are directly tied to the volume of transactions originating from referral activities, as well as to significant milestones related to ecosystem expansion. A designated portion of CBPay tokens will be systematically destroyed in relation to the volume of transactions, staking actions, and referral activities closely linked to the growth of the CBPay product. This ensures a balanced and sustainable economic model within the CBPAY ecosystem.

Key Benefits for Everyone
For Consumers:
– Utilities on Purchases: Each CBPAY transaction grants buyers with dedicated utilities, building a network of users and adopters.
– Referral Program: Consumers amplify their benefits by referring new users, promoting an active and expanding CBPAY community according to the referral program terms and conditions.
– Enhanced Engagement: Increased incentives for CBPAY “ambassador”.
– Privilege and access: Consumers will benefit from holding and using CBPay tokens with exclusive products and promotions with partners merchants.

For Merchants:
– Reduced Transaction Fees: CBPAY transactions offer significantly lower fees than traditional payment methods, enhancing merchant profitability.
– Transaction Rewards: Merchants earn higher rewards in a B2B mode from accepting CBPAY, incentivizing its adoption.
– Merchant Referral Program: Merchant rewards for referrals scale with CBPAY holdings and the transaction volume of referrals, fostering a network of mutual growth.

For Business Promoters and developers:
– Direct Incentives: Rewards tied to the success of onboarded merchants and the development of a robust referral network motivate promoters.

For the Entire Ecosystem:
– Stimulated Growth: A strategic reward system ensures direct incentives for contributors to CBPAY’s outreach and adoption.
– Community Prosperity: The ecosystem’s design accelerates growth, stimulates usage, and enhances the prosperity of the CBPAY community.
– Staking Rewards: Holding CBPAY tokens enables rewards, with additional incentives and utilities for successful referrals by any stakeholder, supporting network growth according to the referral program terms and conditions.

Conclusion
CBPAY transcends the conventional digital currency model by creating an ecosystem that rewards every interaction. It capitalizes on the foundation of the existing CoinbarPay platform, aiming to  advance its role as a leader in digital payments. Through significant incentives for all participants, CBPAY envisions a future where the digital currency ecosystem thrives on engagement, growth, and mutual success, marking a new chapter in the evolution of digital transactions.

Stay tuned for the upcoming official whitepaper….

Previous Medium article
https://medium.com/xdbchain/coinbarpay-introduces-a-brand-new-ecosystem-cryptocurrency-on-xdb-chain-to-expand-the-adoption-of-ded049fd7ba4

Previous Press release
https://u.today/press-releases/coinbarpay-introduces-a-brand-new-ecosystem-cryptocurrency-on-xdb-chain-to-expand

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