Payments with FBX

The payment process involves the purchase of stable tokens such as USDC from any on-ramp providers such as Ramp network that will be integrated into the Flambu app. The purchased tokens will be kept in a reserve smart contract and an equivalent amount of FBX will be minted for the paying user.

The user that purchased FBX can then pay for rentals or buy products and services from Flambu partnered businesses in the platform. While FBX is circulating in the platform, the reserve tokens will generate yield on the most performant DeFi protocols, and when a user wishes to cash out their FBX earnings, they can do so for a 10% exit fee. The purpose of the exit fee is to encourage the users to use FBX within the platform as much as possible, and therefore increase the yield on the reserve tokens which will be sent to the community treasury and partially redistributed to the community through several incentive programs.

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