Bounce

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  BOUNCE

In countries with high inflation, holding onto the native currency becomes financially detrimental. Take Venezuela, currently experiencing hyperinflation with rates exceeding +300%. Imagine depositing 100 dollars in a bank only to find it reduced to a value of 25 dollars within a year.

Within our industry, we recognize that stablecoins, be it centralized ones like USDC and USDT or newer options like GHO or crvUSD, can be a solution. But merely advising people to purchase and retain stablecoins isn’t enough. The real challenge lies in establishing a practical payment system where vendors accept these stablecoins. One major hurdle is the current user experience in crypto transactions. Even for seasoned crypto users, the process is cumbersome. Conversations often go like: “What’s your address?” "It’s 0x23jdf8…” “Could you share it on Telegram?” “What’s your Telegram?” “Shall I scan you or vice versa?” “I’ve shared my address.” “Let me transfer it to my wallet app.” “Just a moment, I need to calculate the Venezuelan Bolivar to USD rate.” “Alright, it’s processing now.” This involves navigating through multiple apps, numerous clicks, and considerable time to complete a single transaction.

Our technology and implementation allow us to supply vendors with PoS terminals, which henceforth allows their customers to make payments in stables easily.

Specifically with deploying on Mode, we're able to leverage SFS really well. There are many integratable opportunities out there, but one of the nicest ones is being able to redistribute the SFS fees which users and merchants generate back to the merchants in proportion to how much they generate (or it could be back to the users).

There is also another opportunity where we can turn the SFS fee redistribution into a gamified lottery or any other way of making it fun.

Built With

• solidity