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STE, stands for Shop-To-Earn, is the rewards token of ShopNEXT. STEs are minted when people shop with their VISA cards and they are burned through gameplay activities like recharging, boosting, and redeeming NFT card cases. You also can withdraw the earned STE and sell it on the exchange.
- Is STE unlimited supply? Yes and no. Theoretically, we can mint it more to reward users on their shopping. But we expect users to use their earned STE to redeem NFT card case so basically most earned STE will be stayed in our gameplay and finally burned. Moreover, users need to use their STE to engage with our gameplay via boosting and recharge NFT cards, these STE will also be burned finally. Thus, STE supply will be increased over time but at a steady rate when our ecosystem grows.
- Will STE price head to zero over time? ShopNEXT can generate economic revenue through shopping activities. To strengthen our uniqueness, we define the first-ever term called External Profit Reserve (EPR). All the profit from potential business (affiliate business, interchange fee, merchant commission) will be stored in the EPR to back all STE tokens issued on the market. The purpose of the EPR is not to make STE a stable-coin; it is to make sure every token has an intrinsic value that is generated by our users through their shopping.
- What is withdrawal limit of STE from ShopNEXT app? Accumulating a minimum of 100 STE in your Earning Balance to redeem for an NFT card case or 1,000 STE to exchange for phone prepaid cards, shopping vouchers, or to cash out.
NEXT is the loyalty token of ShopNEXT. Users need NEXT to upgrade membership as well as engage in in-app gameplay. NEXT is also the currency in the marketplace.
- What is the total supply of NEXT? 100,000,000
- Will NEXT be burned? Yes, we are collecting a small fee in NEXT every time users boost or recharge NFT cards and these NEXT will be burned. So over time, NEXT will become a deflationary token.
Not necessarily. You can already earn some STE as a normal user. But to get more rewards and play some fun, you should try to buy one NFT card from marketplace or upgrade your membership to receive one giveaway NFT Card to enjoy boosting, recharging.
There are 3 ways to get an NFT card:
- 3.If you have won the ShopNEXT NFT card case airdrop campaign, you can upgrade your MOON membership to open it in the mobile app. Alternatively, you can still upgrade to MOON and receive one giveaway card case.
Yes, for affiliate and voucher deals, you can make as many transactions as you want. For Visa-card deals, you are only allowed to earn token reward from the 1st transaction at a merchant on a day. Especially for Other merchants of Visa-card deals, which is only applicable for MOONers, it is allowed to earn 2 transaction/merchant/day.
- Visa-card partnered deals offer STE bonus when making payment using Visa cards at our partnered merchants.
- Affiliate deals offer STE bonus when shopping by clicking affiliated links inside the mobile app.
- Voucher deals offer STE bonus when purchasing vouchers inside the mobile app.
ShopNEXT will issue a first-ever external profit reserve (EPR) to insure the issued STEs. All the profit from merchant commissions will be stored in the EPR to back all STE tokens issued on the market. The purpose of the EPR is not to make STE a stable coin but to make sure every token has an intrinsic value which is generated by our users through their shopping.
NFT cards are unique and differentiated by 4 attributes: Earning, Karma, Capacity, and Power.
- Karma: Determine how lucky the owner is in opening card cases (vary from 1 to 100). Karma is fixed and cannot be increased by boosting.
- Capacity: Determines how resilient the card is (vary from 1 to 100). Capacity is fixed and cannot be increased by boosting.
- Power: Determines the energy level of each card. An unused NFT card will have 100% power which will be decayed after every usage depending on its capacity point.
Users can obtain NFT cards by:
NFT Card cases are NFTs that, once opened, reveal NFT cards. Depending on the card case level and the average karma, users will have the different possibility of receiving different card types and categories in the opening.
MOONers are VIP members of ShopNEXT who can earn the most benefits from our ecosystem. Users are required to lock $300 in NEXT to upgrade the MOON membership. MOONers can earn STE rewards at all Visa accepting merchants, have 20% extra reward and earn 10% APR on the amount of locked tokens . New MOONers also receive an NFT giveaway.
Yes, you can try affiliate and voucher deals in our mobile app. You can also try the trial period to earn rewards at Visa-card partnered deals. See details of these deals in the Partner deals section.
BONUS Rewards is the special rewards offer applicable for some brands on Shopee and Lazada. It has some key features as follows:
- Rewards percentage is more attractive
- No rewards cap per order
- Same offer for both new and existing customers
- Only applicable in a certain period of time
- Only applicable for orders on Shopee and Lazada
STE rewards will be calculated differently for Visa-deals, voucher deals and affiliate deals. More than that, when users are able to apply NFT Cards on the deal, they can earn extra rewards.
We have 3 main revenue streams:
- NFT marketplace transaction fee: we charge 5% in $STE for each NFT card transaction on our marketplace.
- NFT in-app engagement: Users need to pay $NEXT and $STE to boost, recharge, redeem and open NFT cards.
- Merchant’s sales commission: Merchant partners will pay us a sales commission when ShopNEXT's users have transactions at their stores.