Send Money and Get $PIP
PIP's interactive token distribution model rewards users who actively utilize PIP products including Social Pay, Payment Links, Checkout, and Invoice. Eligible users will receive $PIP tokens daily, which will be determined based on the amount of money (except $PIP) they send through PIP products. The goal is to attract more users to Web3 to accelerate the transition. Rewards may be subject to user-specific limits.
- Reward farming period: Rewards are calculated daily, based on the past 24 hours’ transaction activity. ( 00:00 UTC )
- Reward distribution: Daily farming rewards will be distributed to users 6 hours after the end of each day.
- All the rewards will be calculated based on successful transactions.
- Refunded, pending, or canceled transactions will not be included to reward farming calculations.
- Transaction time is based on the receiver's receiving time.
- A notification will be sent in advance if any changes occur to reward farming (rate, etc.).
- Daily PIP reward limits may change due to user participation and the balance of the farming system.
- PIP.ME transactions have no fees and are not included in Farming Rewards.
- PIP token transactions are not included in Reward Farming.
Multi-use of wallet addresses and social media profiles is not allowed. The users who try to exploit or abuse the system will be banned permanently from the PIP ecosystem.
Transactions listed below will be eligible for the reward farming program:
- Sending money with Social Pay Extension
- Issuing PIP payment links
- Issuing an Invoice and getting paid with it
- Selling a product using PIP Checkout (Rewards will be distributed 3 days after the transaction)
- Applicable only for sending and spending transactions.
- Point rates are based on which channel is used for the transaction.
Users who have a higher volume will get higher points.
Transacting $PIP is not included in Reward Farming.
C-2. Fee Rate
- Fees are applicable only for sending money.
- The processing fee is 1% for payment links, social pay, and invoice. 0.5% for Checkout
- The fee is collected by the asset to be transmitted.
- You can claim your rewards after 02:00 am (UTC) at any time from Social Pay Extension.
- You have to earn more than 1 PIP to claim.
- Claimed rewards will be sent directly to your PIP wallet address.
- Any rewards you don't claim will still be available the next day.