Improving Growth Of The VegaWallet Token’s Borderless Ecosystem
It’s A Good Day VegaWallet Community!
Bitcoin has recently broken $13,000 with daily average trading volumes double that of 2017’s massive bull run, Cryptocurrency continues to be accepted at more merchants globally every day, and new technology and software are being released to increase real-world adoption of blockchain protocols.
2018’s bear market helped to eliminate unhealthy or scam projects from the ecosystem bringing forth real players for the continuance in the rise of cryptocurrency worldwide. VegaWallet successfully maintained relevant standards during this market cycle by introducing our version 1/2 mobile application along with our long-awaited beta version of the desktop wallet.
We have been hard at work behind the scenes putting in long hours in order to deliver our next phase of products. If you stay up to date on our social media you will have seen several posts regarding upcoming platform upgrades and improved use cases for our VGW token.
The VegaWallet team wanted to take some time today in order to explain all improvements regarding our native token coming to the VegaWallet ecosystem within the next two months.
Use Case Number 1: Rewards And Loyalty Program
The VegaWallet Point of Sale & Payments platform is approaching the final development stage. Our open source payments system will allow any developer or company to build on top of VegaWallet’s simple and secure ecosystem. Most cryptocurrency payments systems charge 0.5% per transaction, which in comparison to traditional systems is very small. The team at VegaWallet felt this fee was still too great so we have decided to offer cryptocurrency processing services for 0.2–0.3% per transaction. The VegaWallet Payments system will also be integrated into version 3 of our mobile wallet and our new desktop wallet shortly after release. This enables anyone, anywhere, to download VegaWallet and process payments for their business.
“Loyalty and rewards programs help to retain customers and provide an essential marketing tool in today’s world. However, most of these programs can cost thousands of dollars to implement making them out of reach for most small retailers.” — Jacob Ballou, Chief Creative Officer & Co-Founder
The VegaWallet Token plays two large roles in our payments system. The first dedicated role will act as a Rewards and Loyalty Program. With every payment made through VegaWallet’s point of sale the user making the payment will receive a proportionate amount of VGW tokens in return. The exact percentage of tokens per transaction is yet to be determined and is currently undergoing research to boost the decentralized factor of the VegaWallet ecosystem. This allocation will be covered out of VegaWallet’s development wallet until 25,000,000 VGW tokens are released into the ecosystem. After the 25,000,000 VGW is claimed through the rewards and loyalty system we will then redetermine the release of further tokens into the ecosystem by VegaWallet or enable stores to set proportionate amounts based on their projected transaction volumes.
Use Case 2: Advanced Point of Sale Features
VegaWallet Tokens will also provide the ability to unlock VegaWallet’s Advanced Business Back End with VGW Tokens. This addition comes in Q3/4 of 2019 with certain costs to be determined. Features are as follows:
- Deposit The Requested Amount Of VegaWallet Tokens For Access To Advanced Back End System
2. Create Employee Identities And Payroll Sheets. Choose To Pay Partial Or Whole Salaries In Cryptocurrency
3. Advanced Business Metrics To Track Sales And More
4. Track Your Inventory Through Decentralized Databases Using Dash Evolution’s Integration With VegaWallet
5. Audit And Tax Preparation. Keep Track Of Business Expenses And Abide By Local Guidelines
6. Ability To Request Cross Chain Payment Transactions Through Dash Evolution’s Integration With VegaWallet
7. Advanced VGW Rewards & Loyalty Program ( Basic Included For Free With All Payment Systems)
Use Case 3: Discounted Trading Fees
The VGW Token acts as the main trading pair on our platform. It provides a 50% commission discount while using the VegaWallet exchange. Normal trading between other listed pairs incurs a minimal 0.1% trading fee charge. However, when trading against VGW pairs on VegaWallet’s upcoming exchange these fees are dropped to a minimal 0.05%!
Use Case 4: Free Listing Against VGW For Selected Projects
VegaWallet realizes that many excellent platforms need help getting on their first exchange. With the rising cost of BTC and other major digital assets, some of these listing fees are now skyrocketing. This program gives a fighting chance to projects with a dedicated team and solid roadmap. Approved tokens are eligible to be listed against VGW for free on our easy-to-use exchange. We even provide marketing and development support to grow your cause!
Use Case 5: Free and Fast Transfers
VegaWallet will never charge a withdraw fee for VGW Tokens from our exchange to any account to improve the potential for a greater store of value. Did you know that we will also provide instant transfers from your VegaWallet account to your exchange account (and vice-versa)?
What’s Next?
Make sure to look for several announcements regarding our platform updates and new releases over the next few weeks and months. With every release comes a new use case for our native VegaWallet Token. We’re excited to share these momentous occasions with such an amazing and loyal community!
