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Tokenomics
Introducing the REVERB utility token
We have spent many long hours and plenty of money with attorneys to craft a token program that not only upholds the functionality of being a utility (rather than an investment), but also accomplishes our vision.
The maximum supply is TBD. We have a 10-year plan for this project and will be creating a supply in line with that timeline.
We will not release the entire supply all at once. Token supply will be released parallel to Gen 2 launch and once we open up REVERB to anyone with a Solana and/or NEAR wallet.
Intrinsic Value
The REVERB token has been carefully crafted to be strictly a utility. There are no plans to list the token on any exchanges.
Tokens can be earned in the REVERB mobile site by:
- Checking in to physical locations (POI's or Points of Interest) in the REVERB mobile site.
- Earning badges in the REVERB mobile site.
- Uncovering hidden prizes in the REVERB mobile site.
- Staking your NFT; tokens will be airdropped to your wallet.
Our tokens will act as points similar to a credit card or airline rewards program. After earning tokens you will be able to redeem them at merchants where Solana Pay (or NEAR Pay) are accepted. The redemption value of tokens will fluctuate in order to be a "utility". Redemption value will be calculated when redeemed.
Our tokens maintain their intrinsic value from a small merchant fee we charge for each transaction originating in the REVERB ecosystem.
Staking
We have partnered with Cardinal Labs to offer a wrapped NFT staking protocol, which allows the NFT owner to stake their NFT while keeping it in their wallet. Our NFT is required to enter REVERB mobile site, by offering a wrapped solution participants will be able to "double dip" and earn tokens from staking will simultaneously earning in the REVERB site.
Burning Tokens
Pin Club has partnered with a white label on-demand production company with facilities on every continent with the exception of Antartica. Shortly after Gen 2 launch Pin Club online shop will go live with a full catalog of lifestyle products that can be delivered anywhere globally, and can be purchased with tokens.
Pin Club will offers raffles and other opportunities to burn tokens in late 2022.
Last modified 1yr ago