An explanation on the benefits and incentives to CazCoin (CAZ) holders.
Established in April 2018, CazCoin (CAZ) is a virtual currency which is used as the backbone of the CazProjects ecosystem. It is an open-sourced, peer-to-peer cryptocurrency, with its primary focus on real-world use.
The majority of cryptocurrency projects don’t have use cases — we have many.
Under CazCoin is CazProjects, the overarching body which establishes projects with real-world uses, to bring cryptocurrency to the mainstream. The current planned CazProjects platforms are:
CazShop is a global cross-border eCommerce platform powered by blockchain. CazShop allows merchants to accept cryptocurrency as a form of payment for goods.
Many merchants have registered on CazShop and have uploaded their products for the official launch in Q4 2018.
CazEx will be a well-built, secure, customer-service focused cryptocurency exchange.
CazCharge will be a mobile platform enabling users around the world to use cryptocurrencies for digital payments, including mobile phone recharges, utility bill payments, and more.
How they relate
The CazProjects’ platforms can stand alone with individual use cases, however they also interrelate in their operation to benefit CAZ investors and users.
The above graphic shows a high-level overview of the symbiotic relationship between the current-planned CazProjects platforms — sometimes it’s easier to visually represent something than explain it in writing!
As shown, CazEx will become the focal point for CazShop and CazCharge users to purchase CAZ for use on those platforms.
CazShop merchants can send their cryptocurrency earnings (if that method of payment is selected) to CazEx to sell it/swap for other currencies.
CazCharge users can purchase funds on CazEx and easily send to CazCharge for the payment of utility bills etc.
Benefits to investors/holders
- Using CAZ as payment opens users up to receive exclusive discounts and offers.
- Zero fees paid when using CAZ as form of payment for goods.
- Merchants accepting CAZ as payment will not have a fee taken (for CAZ payments).
- Any cryptocurrency that is accepted as a currency on CazShop will pay a fee to be listed. 25% of this fee will be payable in CAZ — thus reducing the circulating supply.
- 0.25% of every CAZ payment received by CazShop will be distributed between eligible masternode operators.
(*Applies to all fees received on CazShop from CazPay, payments for products in CazCoin Official Merchandise Store, and from CAZ payments for new currency listings.)
CazPay will offer further incentives and use cases for CAZ — details to be released soon!
- Lower trading fees when using CAZ as form of fee payment.
- Any cryptocurrency that is accepted for listing on CazEx will pay a fee to be listed. A percentage of this fee will be payable in CAZ — reducing the circulating supply.
- A percentage of the CAZ paid for currency listing will be burned — the % to be determined at a later date — permanent reduction of circulating supply.
- Community Coin Vote — users can vote for their coin/token of choice to be listed on CazEx. Users pay with CAZ for the ability to vote, and these CAZ will be either burned or a % distributed to masternode operators.
- A percentage of trading fees paid in CAZ go to masternode operators each quarter (for eligible masternode operators).
- CAZ will be the primary currency (aside from BTC) used on CazCharge. Users can purchase CAZ on CazEx and transfer to CazCharge mobile wallet, then use the wallet to spend their CAZ, including paying utility bills.
As CazCharge is a work in progress, more examples will be be provided closer to launch, once known.
Summary of benefits
As a summary of the benefits to CAZ masternode holders and CAZ investors:
- Revenue share from the multiple platforms will be shared with masternode operators; and
- Using CAZ as a method of payment on the platforms provides a reduction in fees paid.
A reduction in the circulating supply (thus increasing the rarity of circulating CAZ) will be achieved through:
- Coin burns;
- Coins being removed from circulation due to coin listings on the multiple platforms; and
- CazEx users paying in CAZ to vote for their favourite community coin.
Eligible Masternode operators: A snapshot of masternodes will be taken at the beginning and end of each quarter. Only those masternodes who remained for the duration will be eligible for the revenue share.
Facebook CazShop: https://www.facebook.com/cazshop.io/
Twitter CazShop: https://twitter.com/CazShopOfficial
Instagram CazShop: https://www.instagram.com/cazshop.io/