The Collateral Governance Token ($COLLG) will be live on Uniswap at 16.10 UTC.
Today is the fourth of our UPD8s, eight huge announcements in just two weeks.
One of the most important building blocks in DeFi is the Governance Token. The $COLLG Tokens will give the community invested in Collateral, the right to vote on protocols, products, new features, goals and upgrades of Collateral Pay.
The more $COLLG Tokens you hold, the more voting rights you will have and all voting rights are enforced by cryptography and software, making the token trustworthy and valuable.
The $COLLG Token is now available on Uniswap. Please use the contract address pinned in the Collateral Official Chat Telegram group.
The $COLLG Token
Collateral Debit Card Ownership
This week, Collateral announced that very soon, customers will be able to register for the Collateral Pay Debit Card. The more $COLLG Tokens that are held, the higher level of card you will be able to gain access to, along with greater rewards from using the Collateral Pay Debit Card. Collateral Pay Debit Cards will initially be distributed to $COLLG Tokens holders as a priority. As an example, the top tier card, the Black Card can be accessed by holding 8 $COLLG Tokens, earning the user up to 8% cashback. Similarly, the Classic card has no barriers to entry and require 0 $COLLG Tokens, though earns you zero cashback.
We also mentioned yesterday that $COLLG Tokens earn you a vote. We want our $COLLG Token holders to feel empowered to be able to shape decisions. Over the coming months and beyond, we will have lots of decisions to make, and we want to be able to do that together. These are important topics that $COLLG Token holders will be able to vote on. The more $COLLG Tokens you hold, the more voting rights you will have.
The Collateral Token ($COLL)
$COLL is the native currency of Collateral Pay. In order to use the Collateral Protocol and access services on offer, you will be required to hold $COLL Tokens. Each $COLL Token held, will allow the user access to $10 of spending power. An example would be if you want to purchase something for $1000, the user would need to hold 100 $COLL Tokens. So COLL Token enable a purchase, but in addition, you will still need the crypto used as collateral for the purchase to take place. From launch, we will be taking payments in ETH, BTC and USDT.
$COLLG On Uniswap
If you want to earn rewards and help to shape the Collateral ecosytem, you will need $COLLG. The $COLLG Token is now available on Uniswap. Please use the contract address pinned in the Collateral Official Chat Telegram group.
Uniswap is a decentralized finance protocol that is used to exchange cryptocurrencies. Uniswap is also the name of the company that initially built the Uniswap protocol. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.
COLLATERAL is the next generation payment gateway built on Polkadot and accessed through an interoperable crypto wallet, granting access to spending power by using crypto as collateral at the point of sale. The platform allows users to pay instantly by using crypto as collateral, giving its global user base access to funds and the ability to pay and spend crypto instantly anytime, anyplace, anywhere.
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