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4.4 Cashflow of FingeRate 2.0
FingeRate wallet supports deposits & withdrawal of Fiat currencies, MSOT tokens and SOT NFT tokens. Since SoM is the mileage unit exclusively used for the FingeRate 2.0 app, it is not found on external sources, and therefore SoM doesn’t require the deposits & withdrawal function. The detailed cash flow is briefly described down below:
4.4.1 Fiat Currencies: Fiat currencies can be deposited through credit cards & bank transfers. Fiat can be swapped to SoM within the FingeRate 2.0 app.
4.4.2 MSOT: MSOT tokens can be traded with any available market pairs at the exchange. It can be used to buy SOT NFTs from the NFT marketplace. MSOT can be swapped to SoM (at the floating exchange rate) and vice versa within the FingeRate 2.0 app.
4.4.3 SoM: SoM is earned primarily through participating in surveys, missions, etc. in the FingeRate 2.0 app. Users can swap SoM to MSOT tokens (at the floating exchange rate) and vice versa. Although, the best way to spend SoM is to participate in fun activities in the app and buy exclusive items for the avatar.
(The value of 1 SOM = $0.1)
4.4.4 SOT (Digital asset): SOT NFT tokens track the ownership of the SoT devices. GG56 receives royalty for each NFT transactions, and the token owners periodically receive share) of the profit generated by their SoT device(s). The profit is given out in MSOT token.
Last modified 11mo ago