[Tech] Cryptocurrency deposit and microloan service
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Hello ~ everyone. Are you guys enjoying your summer vacation?
Today we will learn about Cryptocurrency deposits and microloan services.
a. Deposit service: ReapPay charges a Pay (① directly charged with KRW, ② after purchasing Reap and then charged with Pay after purchasing ReapPay), and wants to pay rewards for the period of holding it just by holding it. ReapPay’s deposit service introduces a method in which a commercial bank deposits a certain amount and pays interest. After charging the Pay, it intends to pay a Daily Reward for the period until it is used.
ReapPay’s commission income includes ‘Next-day payout Service’s commission (about 12% per year = about 0.08% per day) and PG (payment agency) commission (about 2%)’. There is a brokerage fee for microloan services for small businesses. ReapPay aims to increase consumer benefits by providing these services and returning all commission revenue generated to consumers.
Consumer reward is paid through REAP (ReapChain), and REAP paid as a reward is Swap again as Pay so that it can be used to create a virtuous cycle structure. Of course, the paid REAP can be swapped to Pay, but you can also profit from the market by holding it in the Reap wallet for a certain period.
Each individual’s accumulation ratio for consumer reward is calculated as the ‘ratio of the amount charged by the user to the total amount of users deposited in ReapPay,’ and REAP will be paid daily based on the ratio.
b. Micro (credit) loan service: ReapPay intends to provide a medium-interest microloan product service for small and medium-sized merchants through a partnership with a savings bank. Due to the nature of small and medium-sized businesses, it isn’t easy to get a loan through the first financial sector and get a loan through a guarantee. Therefore, for small business owners who need funds like this, we want to provide a micro-loan service that anyone from ReapPay can use quickly and conveniently. In other words, ReapPay’s micro-loan for small businesses is a service that allows you to quickly use the funds you want at a medium interest rate through proof of the sales of individual ReapPay affiliates.
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