Another big update — Next-generation payment portal for e-commerce Xion Global has announced the integration of new crypto payment options for shoppers.
Following this, users can now checkout with ETH, BTC, LTC, DASH, XRP and BCH including debut payment options XGT (native token) and xDAI. To bring this to reality, Xion Global signed a partnership with ForumPay, another global platform that supports crypto payments for goods and services.
The new development is a milestone for Xion Global considering that only XGT and xDAI were available as payment options when it announced the beta launch. High demand from merchants who have signed up with Xion Global prompted the new additions.
Now, Xion Merchants can offer their users a wide range of options to pick from to pay for goods or services at checkout.
Pay with Crypto & Get Cash Back Rewards
Xion aims to encourage the use of all crypto payments, which is why it has included the cashback rewards program where shoppers will receive $XGT for buying items with any of the newly available crypto options.
Users will get up to 100% cashback in $XGT during the first phase of the program. Rewards will be distributed for 12 months and in small amounts. Using the rewards, users can purchase other products or activate 1 of 6 levels of loyalty NFTs to save on every subscription transaction. The higher the level the more the savings.
However, cashback rewards can be only unlocked when the total value locked (TVL) in either the XGT-BNB and XGT-DAI LPs has been increased. This means that the higher the TVL, the more cashback rewards to be distributed.
The first phase of the rewards program, in which users get up to 100% cashback, has been divided into five levels, such that a TVL of $300k unlocks $XGT rewards worth $3,000. Other levels have been divided as follows: $500k TVL ~ $10,000 worth of $XGT; $750k TVL~ $25,000 XGT; $1m TVL ~ $50,000 XGT; $1.5 million ~ $100,000 worth of XGT.
Rewards To Be Distributed Via Bonding Curve After 100% Cashback Rewards
Once the rewards on the first phase have been exhausted, Xion Global will fall back to a bonding curve distribution method where the rewards users get will vary between 30% — 80% on going. This second phase will herald another tier comprising five levels. The rewards users get on each tier is dependent on the total value locked in the specified LPs. All rewards will be distributed from the $XGT rewards chest.
About Xion Global
By combining the irresistible perks of a Web3 environment, cross-chain capability, loyalty programs and cashback rewards, Xion readies itself to be the game-changer in the global e-commerce and finance industries. Essentially, Xion aims to be a Web3 Stripe facilitating crypto payments for thousands of merchants and their customers when they shop online and at almost zero costs.
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