Minerva is an application and cryptocurrency token-based service provider for payments which is called OWL and also providing an extra revenue option to merchants. It is subjected to work with less violent fluctuations in short termly. And also Minerva introduce an incentive for payments to users and merchants which is increasing the use of cryptocurrencies and smart contracts.
Minerva solution is bit more deviate from other smart contracts on ethereum blockchain which is providing incentives to approved merchants to introduce the use of their cryptocurrency as a new payment method.
Incentivization is a strategy of giving rewards to merchants. So incentivization generates at the variable rate as Minerva’s cryptocurrency.
Nowadays cryptocurrencies have the big problem which they can’t use as currency often because it has short-term fluctuation of price makes the substantial risk for merchants to accept them as a currency.
The ease of using Owl as currency because it can easily transferable between merchants and their clients by using ERC20 wallets. This can be used because Owl is an ERC20 token and Minerva act as the payment processor. And also this Owl can be smoothly integrated into exchanges.
There are two advanced methods to increase and decrease the OWL supply used by Minerva.
The first method is making Owls and those are put into circulating supply when a merchant accepts Owl as the payment option. The reward rate which Owls are currently entering and it is directly proportional to Owl price. If the price of Owl rise, reward rate also getting high and reward rate will rise until which increases total supply enough to prevent price swing short termly.
The second method is preventing Owls rate getting negative by giving incentives to users to prevent temporary their Owls take out of circulation.
Minerva has four strategized approach to achieving this goal
It concerns the volatility of Cryptographic assets presently.
Merchants which rewarded with incentives easily cash back their assets with “Reverse transaction fee” which is highly sustainable for users.
Approved merchants can pass their earnings to their clients. That would be either discounts or bonuses.
Membership subscription would be monthly and have trials with smart contracts and cryptocurrency.
Minerva merchants and Users have several incentives which are unique to Minerva among other ethereum blockchain platforms. It was a generous reward system for any business. When using Minerva Owls as payments each merchant is issuing a bonus that is cashback incentives.
Merchant incentives include:
Merchants can easily liquefy their assets via API from exchanges relevant to Minerva.
Traditional fee reduction and chargeback elimination.
Protect from cryptocurrency price volatility short termly.
There is a sustainable cashback system introduces to merchants which is reverse transaction fees.
In trials and subscription banks and credit cards are not necessary.
Users can pay using Minerva’s Owl to approved merchants, there is more flexibility to offer discounts to them. This is because merchants can be paid bonuses each time there is a transaction rather than paying transaction fees. Owls can be purchased from any exchange or market and they can be compatible transfer to one of many ERC20 wallets and can spend at any Minerva platforms.
More Details of Minerva ICO:
Official Website: https://minerva.com
ANN Thread: https://bitcointalk.org/index.php?topic=2072362
Post By Anton De Mel
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1770640