By now, you have probably heard a thing or two about Blockchain-powered platforms and whether you like it or on the off chance that you don’t, you might soon have to adapt to this new tech/business/finance trend, that isn’t really going away. However, it accepting the decentralized new might not be that bad, in fact most of the decentralized platforms have incentivized themselves for the users. One of such platforms is Metal, which aims to making the entire process of giving all the more rewarding, in a literal sense. This article will walk you through how it will pay you to use Metal Pay, in its very own cryptocurrency, MTL, of course.
Now if you are ready to earn some cryptos, lets buckle up and jump right in. It is highly likely that there are going to be things that will seem totally foreign to you, like ‘Pop’ and ‘Pop score’, however by the time you are through with this read, you’ll know exactly what it all means.
What is Pop?
Whenever a transaction of yours is processed within the Metal Pay, you will be rewarded with MTL and this reward is referred to as Pop. Pop can also be used as a verb like “Popping” or “Pop it” for example, when it is being used in order to describe the act of claiming Pop.
When the MTL crytpcurrency was created, the Metal team set aside a rough estimate of 26.3 million from the total of 66.6 million MTL tokens, specifically for the purpose of distribution to the Metal Pay users. And out of those 26.3 million MTL, Metal Pay passes out up to 50 MTL every 10 minutes. At this rate, you can easily earn Pop rewards for at least the next 10 years! Pretty cool huh?
How to get Pop & how long does it take?
First of, your payment, or the sender’s payment must be processed, in order for you to be eligible for claiming you Pop. Once the team has the Proof of a Processed Payment (P-o-P-P), both you and the sender will be awarded with some Pop.
However, it is likely that this payment process may take up a few business days in case you’re sending or receiving money via a linked bank account. So your Pop might take a few days to get to you, but there isn’t any cause for worry as the transfer of cash will be instant.
On the contrary, if the money is being sent or received through a Cash balance inside of Metal Pay, you will receive your Pop within a matter of 10 minutes. Because the payment will be process instantly, if the required previous payments are cleared, that is, which were used to fund the Cash balance. Moreover, the cash balance is an FDIC-insured bank account.
How much Pop can you get?
All users are eligible for receiving up to 5% back in Pop on each peer-to-peer cash transaction, in the current version of Metal Pay.
Pop score could very well be known as, ‘How do I get more MTL?” The Pop score is a mechanism that will come into play when the party ends. Meaning, the Metal Pay can’t exactly give “up to 5%” back to the users forever. That isn’t practical. So Pop score will debut in the later version of Metal Pay, which will impact on how much of Pop you can earn per transaction. The higher the score, the maximum the reward, up to 5%, that is. However, on the flip side a very low score could possibly result in earning 0%. So that’s a bit of a downer. But all in all it isn’t really a bad deal and coming from the traditional system of keeping credit scores, we might be able to handle the Pop score too.