The blockchain and cryptocurrency industry has evolved immensely over the last decade, bringing forth numerous financial applications that are transforming our digital lives. Among the most significant advancements in this space is Decentralized Finance (DeFi), a concept that attempts to decentralize and democratize financial services. A trailblazing project that is making strides in this area is the Uquid system or DeFiTo Ecosystem, with its tokens, $DTO and $DSS, creating a unique bridge between DeFi and e-commerce.
Introducing Defito (DTO)
DTO is the core token of the Defito Ecosystem, a DeFi platform with a mission to offer a gateway for DeFi to access e-commerce. With this integration, users can take part in:
- Shopping Mining
- Shopping Staking
- Automated Shopping Making
DTO serves as the native currency within the Defito platform. Users can earn DTO by providing liquidity to Defito’s liquidity pool and use it for platform governance and online shopping.
“YOUR STAKE IS SAFE WITH US.” With 33,333 DTO stacked assets and a maximum supply of 33,333 tokens on the Ethereum network, Defito assures users of the utmost security for their investment.
DSS: A DeFi-oriented Loyalty Program
The Defito Ecosystem also introduces the $DSS token, a DeFi-driven enhancement of the traditional loyalty program system. Instead of physical loyalty cards, wallet addresses used for payment automatically receive bonus recognition after each completed order. The reward points are recognized with smart contracts and available for spending at any time.
DSS has a maximum supply of 66,666,666 tokens, with a current supply of 22,222,222 DSS. Its distribution is divided into three categories: 40% for Shopping Treasury, 50% for Staking, and 10% for Operation.
The DSS functions through a system known as Defi Shopping Stake, combining both Mining and Staking Shopping.
- Mining Shopping: A new DSS token is rewarded after each successful payment on the uquid marketplace, regardless of whether you are a seller or purchaser.
- Stake Shopping: Users earn DSS tokens from providing liquidity for Farm.
The system also implements a reward per block model, with the first 30*5760 blocks rewarding 7 DSS per block, and subsequent blocks reducing rewards by 16.66666% until completion.
Community-Driven Burn Mechanism & Governance
The DSS system has a built-in burn mechanism and community-driven governance. DTO holders can vote annually on whether to burn DSS tokens from the shopping treasury or keep them for future development. This system ensures the value of the DSS token and empowers the community.
The burn mechanism only works for DSS, not DTO. Whenever DSS rewards are spent in Uquid Digital Shopping, an equivalent amount in the Uquid Shopping treasury is burned, reducing the overall supply and potentially increasing the token value.
Key Features
The DeFiTo Ecosystem boasts of:
- Tested and audited smart contracts: DTO and DSS’s smart contracts are audited and secured by Solidified, ensuring that no one can steal the collateral that backs the value of your deposit.
- Non-custodial: DTO and DSS are non-custodial. It’s written on the blockchain, so users always stay in control, and all user funds are locked in smart contracts without developers accessing those funds directly or indirectly.
- Flexibility: Defito Shopping is designed to be compatible with a wide range of smart contracts.
Stabilizing the DSS Value
To ensure the stability of the DSS token value:
- The number of DSS tokens generated by staking and mining is limited.
- If the community votes for DSS token burning, the number of tokens will become scarce.
- When the amount of tokens in the shopping fund is burned, a further amount of tokens will be repurchased from the market, gradually increasing the DSS value.
The DeFiTo Ecosystem represents a significant development in DeFi, creating innovative solutions for e-commerce. As we delve into this new era of digital commerce, it’s exciting to see how projects like Defito are building bridges between traditional commerce and blockchain technology. Trustworthy, secure, and reliable, Defito promises a future where everyone can earn rewards on their digital assets.
Defito: A New Paradigm for E-commerce
In the past, the e-commerce industry and the decentralized finance (DeFi) sector have been considered as two distinct entities. However, the DeFiTo Ecosystem by Uquid is bridging this gap and creating an unprecedented synergy between the two.
While e-commerce platforms offer convenience and a wide range of products, they often lack the advantages offered by DeFi applications, such as liquidity mining and staking rewards. By integrating these DeFi features directly into an e-commerce platform, Defito is pioneering a whole new shopping experience where consumers can earn while they shop.
Involvement and Influence in the Ecosystem
As a DTO token holder, not only do you get to participate in liquidity mining, staking, and online shopping, but you also get a say in the platform’s governance. This includes the right to vote on critical decisions, such as whether to burn DSS tokens to control inflation and scarcity. This level of community involvement and influence is rare in traditional e-commerce platforms, highlighting the revolutionary nature of Defito.
Furthermore, DTO token holders enjoy the security and peace of mind knowing that their stakes are safe. This is because of the audited and tested smart contracts securing the DeFiTo Ecosystem, making sure no one can steal the collateral that backs the value of the tokens.
Disrupting Traditional Loyalty Programs with DSS
DSS, another significant component of the DeFiTo Ecosystem, introduces an innovative approach to loyalty rewards. Traditional rewards programs require users to present loyalty cards or complete specific actions to earn points. In contrast, DSS automates this process by recognizing wallet addresses used for payment and automatically awarding reward points after each completed transaction.
These points are then available to be spent at any time, providing users with the flexibility and freedom of a truly decentralized loyalty program. This method increases the efficiency of the rewards system, making it more user-friendly and attractive to customers.
Future of E-commerce and DeFi
The DeFiTo Ecosystem and its unique combination of e-commerce and DeFi suggest a bright future for both sectors. It represents a step forward in the ongoing evolution of commerce, blending the traditional retail experience with the financial advantages of DeFi.
The DeFiTo Ecosystem’s unique features, such as staking, liquidity mining, and a community-driven governance model, set it apart in the increasingly crowded DeFi space. Furthermore, the ecosystem’s emphasis on security, proven through audited and secured smart contracts, makes it a reliable option for both novice and experienced cryptocurrency users.
Through this innovative blend of DeFi and e-commerce, the DeFiTo Ecosystem by Uquid is leading the way toward a future where online shopping becomes an investment opportunity. As such, it’s an exciting time for both e-commerce enthusiasts and DeFi devotees alike.
About Uquid
Launched in 2016, Uquid pioneer in applying DeFi and Web 3.0 to E-commerce that aims to bring the best Shop to Earn experience to customers with verified merchants, exclusive deals, cashback and Payin3 with Crypto.
Throughout the years, Uquid still keeps its fantastic performance with continuous growth and the best effort to upgrade its store following the official Roadmap. With the largest selections of over 120 million physical, digital and NFTs products listed and comprehensive shipping services to over 180 countries and territories around the world, Uquid is confident in serving any demand of customers in the Metaverse.
Users shopping at Uquid are offered flexible and convenient payment methods including cryptocurrency, fiat or wallets. Uquid’s ambition is to dominate the crypto marketplace by offering Buy Now Pay Later option to customers. Uquid Payin3 is all about protecting crypto futures value, by delaying the payment in three installments for 90 days, interest-free. With many years of building an infrastructure for E-commerce in Metaverse, Uquid has found the easiest and safest way for customers to access their money and shop online.
Telegram: https://t.me/uquidcoinofficial
Twitter: https://twitter.com/uquidcard
Facebook: https://facebook.com/uquidcard
Medium: https://medium.com/@uquidcoin
Blog: https://shop.uquid.com/blog
Website (Digital product): https://shop.uquid.com
Website (Physical product): https://uquid.com
Website (General): https://uquidcoin.com
Website (NFT): https://nft.uquid.com
