Businesses
How to take part in the weekly protocol revenue sharing
Last updated
How to take part in the weekly protocol revenue sharing
Last updated
The businesses contract receives a certain number of weekly emissions from the minter. The total number of tokens sent to the businesses contract depends on how many tokens have been spent in the marketplaces during the week.
The tokens sent to the businesses contract are distributed amongst businesses according to the number of tokens spent on each of their channels.
To become elligible as a business to those weekly emissions, you have to deploy your business on the Businesses contract. To do so:
Go to the Businesses' page and click on the Deploy My Business button
Pick a workspace and validate the transaction. You can find your deployed business on the page faster by ticking the Mine Only button. If you cannot find your business, reload the page and try again
Congratulations! You will now receive a vote everytime you make a sale in the marketplaces which will make you earn a share of the weekly emissions.
There are weekly emissions for each of our 12 Free Tokens and they are distributed to utility providers to the PaySwap ecosystem notably businesses on our marketplaces. Whether you take tFIAT tokens or Free Tokens for your sales on the marketplaces, you still receive votes. Each sale made generates a vote for you.
Let's take 2 merchants that sell the same item A and a user A which has a token from a valuepool for the Free Token FRET with a weight of 20.
Merchant 1 sells item A for 10 USD (which is a tFIAT token)
Merchant 2 sells item A for 10 FRET (which is a Free Token)
Let's suppose 10 USD = 10 FRET.
If Merchant 1 makes a sale of item A to user A, Merchant 1's vote count gets incremented by 10
If Merchant 2 makes a sale of item A to user A, Merchant 1's vote count gets incremented by 20
Since Merchant 1 is selling in tFIAT tokens, the vote weight generated by each sale is only the amount of tokens used to make the sale which in this case is 10.
Since Merchant 2 is selling in Free Tokens, the vote weight generated by each sale is the weight of the buyer in the valuepool of the used Free Token which in this case is 20.
So for the same sale, a merchant selling in Free Tokens will more than likely receive more votes than a merchant selling in tFIAT tokens.
This incentivises the use of Free Tokens on our marketplaces.
You can add bribes to your business to incentivize users to refer other users to your business since each sale made by your business will reward the referrer of the sale with a portion of your bribe.
Go to the Businesses' page and find your business by ticking the Mine Only button
Expand you business' panel and click on the currency button on top of the Control Panel button and pick the token you're willing to use to bribe users to refer your business.
You can also import a token not available on the platform by copying its address in the search box like on the image below. When you do so, you should see your token appear with the import button next to it like with the FTM token in the image below
After you've selected your bribe token, click on the Control Panel button and then on the Update Bribes button. Pick an amount you would like to bribe users with and validate your transaction.
Congratulations! You have deployed your business and added a bribe to incentivize users to refer it to other users.
All that's left is for you to wait for the end of each week to collect your share of weekly emissions and use those to grow your business further. The more your business grows, the more sales you will make and the more weekly emissions you will receive.
