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Wallet
The wallet compliments the social booking marketplace with tech-enabled financial services built directly into the platform. By adding financial services, we can reduce the friction involved in transactions (especially high-value), and capture more of the transaction margin by simultaneously offering complimentary services. Through embedding financial services into the platform, we can offer the following value propositions:
In-app Cash & Crypto transfers:
While offering little to no margin, transfers offer further utility to the Chat and expense splitting feature sets. And through leveraging the power of the Avalanche protocol, users can make transfers globally, achieving finality within a matter of seconds, for a fraction of what it would cost to make a bank transfer without compromising on security. Using a technology that is globally accessible so long as you have a smartphone.
It is clear that small differences in user experience lead to large differences in usage outcomes. For a cryptographic social payments system to prosper, sending a payment should be as easy as sending a text message, and the volatility of the currency should be minimal.
Buying, swapping and selling crypto-currencies
Many users will build a relationship with crypto-currency through earning & holding $THIS. Buy, swap, and sell functionality will allow users to expand their holdings and give them the ability to diversify their wallets by exchanging $THIS for other crypto-currencies (USDC, DAI, ETH, BTC, etc.).
CashApp charges standalone fees of as much as 1.76 percent on bitcoin purchases. Throughout 2021, CashApp reported just over $10 billion in Bitcoin revenue and $218 million in gross profit.
Debit card transactions: Virtual Visa® debit card’s will make it easy to make purchases using the assets in your wallet (including U.S. dollars). Additionally, you will earn $THIS rewards on every purchase. A 2.50% transaction fee will apply for purchases using crypto-currency to cover all costs involved in the exchange process. Fiat currency transactions (USD etc.) will not be subject to a transaction fee.
In a recent Tweet, Brian Chesky revealed that “crypto payments” was the topmost suggestion, out of 4,000, in response to a tweet, asking, “If Airbnb could launch anything in 2022, what would it be?”.
Last modified 19d ago