What is en-Cash?
en-Cash (enc) is a mobile money that can be used like cash in all services on the TIER platform. Check the ratio, 1 Rand, the currency of South Africa, is traded at a 1:1 ratio to 1 en-Cash. Within TIER Eco-system, we will always maintain a 1:1 ratio between the escrow account balance and the issued enc.
Dive deep to the details of en-Cash!
Let’s check regarding the Point and Rewards. The marketing expense is deposited to escrow account in advance and then, en-Cash is issued after. Therefore, the issued en-Cash amount and the escrow account deposit amount are ALWAYS the same. For Merchant payment and withdrawal, at the time when the merchant’s settlement request is approved, en-Cash exchanged for cash is immediately burned. The issued en-Cash amount and the escrow account deposit amount are always same as well.
Next, we will see more about AUC in the TIER ecosystem!
👉👉 Catch up with AUC
AUC Official Channels📌
Block explorer: https://etherscan.io/token/0x87a92428bbc876d463c21c8e51b903f127d9a9f4