Deep Dive: Paycer Loyalty Tiers
The Paycer Protocol has its native token called Paycer Token or PCR. It is the utility token that will be useful for the stakers and to become part of the bonus program and gain more multiple benefits. The PCR token will create real value among the community and the users. The Paycer Platform will have a lot of incentives and voting rights that come along with the 4 Different Loyalty tiers.
Understanding the 4 Level Loyalty tiers.
There will be a total of 4 loyalty tiers — Associate, Senior, Manager, Partner. The lowest tier will be the Associate Level, which can be reached with 5000 PCR tokens in the wallet. And the highest tier would be the partner that can be achieved by having 100,000 PCR tokens.
The following table gives an overview of different loyalty tiers and the benefits they offer. For each level, there will be a special discount on the loan fees, additional fiat interest rates and additional staking rewards based on the multiplicator:
Associate
— — — — — — — — — — — — — — — — — — — — — — — — — —
Staking Rewards Base Rate * 1.25
Earn more Interests Interest Rate + 1.5%
Loan Fee Discount Loan Fees — 7.5%
Senior
— — — — — — — — — — — — — — — — — — — — — — — — — —
Staking Rewards Base Rate * 1.5
Earn more Interests Interest Rate + 2.5%
Loan Fee Discount Loan Fees — 12.5%
Manager
— — — — — — — — — — — — — — — — — — — — — — — — — —
Staking Rewards Base Rate * 1.75
Earn more Interests Interest Rate + 3.5%
Loan Fee Discount Loan Fees — 15%
Partner
— — — — — — — — — — — — — — — — — — — — — — — — — —
Staking Rewards Base Rate * 2
Earn more Interests Interest Rate + 4.5%
Loan Fee Discount Loan Fees — 20%
Additional Staking Rewards
The formula used to calculate the Additional staking reward is following
Additional Staking Rewards = Base Rate * Multiplicator.
The current Base rate that a staker can earn based on PCR tokens staked is multiplied with the multiplicator which is further determined based on the loyalty level for the user.
Let us understand in more detail.
Assume Bob holding 21,050 PCR tokens in the wallet, the Loyalty level that will be assigned to him will be off the Senior level. If the current base rate for staking rewards is 10% and the multiplicator is 1.5, then the final staking Reward rate will be 15%.
Additional Interest
Depending upon the amount the user owns PCR tokens, they can up to 4.5% p.usersditional to the base interest. It will help them to boost the staking rewards and get more discounts on loan fees.
Additional Discount on Loan fees.
If you belong to any Tiers given below, an additional discount is available for you on the fees for taking a loan. There is a significant amount of discount for every level as given below.
Associate : 7.5 %
Senior : 12.5 %
Manager : 15 %
Partner : 20 %
Let us take an example, Bob holds around 81k of PRC tokens in the wallet that will put him into the Manager level tier. So if in case Bob wants to take the loan, they will be given a 15% ff discount, Based upon the following formula
Current Loan rate — (Current Loan Rate * 0.15) = Discounted loan rate.
Paycer’s Governance and Voting
The Paycer token will have some features of a governance token that will allow token holders to influence the further development of the Paycer platform through voting. The weight of each vote depends on the number of the user’s PCR tokens compared to the total number of PCR tokens in Paycer wallets. The voting weight of a wallet will be based on the average number of PCR tokens during the last seven days.
Summary
There will be several more bonus programs coming up that will bring more benefits to the users. The more PCR tokens, users hold, the more rewards will be there to earn. Users can be part of any tier as per their choice and willingness. The Paycer team has ensured to offer a significant number of benefits to every user of paycer.io
About Paycer Protocol
The Paycer Protocol is a chain agnostic product, that aggregates popular defi Products to offer rewards to the users. Paycer Protocol combines the traditional financial servers such as a debit card and bank account. Users Do not need their cryptocurrencies to get started with the Paycer platform. Paycer Protocol will automatically deposit the user’s money into selected Defi Products, offering a high interest rate as a source of passive income.
