How to Provide Liquidity for SoftNote Bills Using Bitcoin
As stated when explaining how this innovation works, we highlighted that SoftNote Bills are like casings or bags. They are perfect for holding and transferring Bitcoin securely and anonymously. The process begins with minting 100 SoftNote Bills using $TET tokens. After that, people will then add liquidity to the Softnote they already minted.
However, it is not essential that people who minted SoftNote must also add liquidity to the Bill. This system is such that someone else can add Bitcoin liquidity to the SoftNote Bill that is already minted. All they need to do is send the Bitcoin they want to use to a dedicated address. Not to worry, this is a very simple process and works like sending regular Bitcoin.
Once they complete this step, they get a Liquidity Provider License for all the Bills where we distribute their Bitcoin. After that, the SoftNotes that have Bitcoin in them are pushed out into circulation. This means that anyone who wants to make a Bitcoin payment can use as many SoftNote Bills as necessary for payment.
Benefits of Providing Softnote Bills With Bitcoin Liquidity
The catch comes into play once people start using the minted Bills. Although users can use SoftNote for free, companies, merchants, and establishments that want to accept this simpler form of Bitcoin payment, pay 1% for each transaction they make.
Those who provide liquidity for the SoftNote Bills will receive 20% of the amount of the 1% transaction fee. Even better, this is not a one-time process. It applies to every time merchants use SoftNote to make a Bitcoin Payment.
It is noteworthy to mention that anyone who mints a SoftNote will get 20% of the merchant transaction fee as well. This means that one person can get 40% of the transaction fee if they mint a SoftNote Bill and also provide it with liquidity.
Other Ways to Earn Rewards With Tectum?
There are several other ways for users to earn rewards on Tectum. We currently have multiple staking pools ongoing. Following our listing on Bitget, we launched a $TET staking exercise on Bitget. Early investors can earn up to 140% annually on the amount they take.
There is also a staking pool on Unicrypt. Interested individuals can also visit the exchange to learn more.
