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Alchemy Pay (ACH)
A Payment System Focused on Retail Transactions.
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Alchemy Pay is a payment system focused on retail transactions at the Point-of-Sale and peer-to-peer remittance. Users can make payments in fiat, stablecoins and other cryptocurrencies on traditional payment systems.
ACH is the native token of the project. The current use cases for ACH include:
Transaction fees: Users can use ACH tokens to pay for the network's transaction network fees.
Access to Alchemy Pay services: Depending on ACH tokens held in users' Alchemy Pay Wallet, grants them access to tiered DeFi products and benefits (i.e. fee discounts).
Ecosystem rewards: Users can earn rewards by making payment transactions, referrals, and using DeFi services within the Alchemy Pay ecosystem.
Governance: ACH token holders can vote on governance proposals.
The project consists of the following major components working in conjunction:
Alchemy Pay Wallet: Alchemy Pay's mobile crypto-asset management wallet, which provides hybrid crypto-fiat gateway services for institutions, businesses and individuals.
Merchant and Business Networks: Alchemy Pay integrates banks, payment companies, SaaS companies, consumer groups, etc., who have merchant resources and support digital currencies such as BTC, ETH, USDT, BNB.
Burn Mechanism: A proportion of ACH tokens are burned for each transactions made on the network.
As at January 10th 2022, the maximum and total token supply of ACH is 10,000,000,000. The current circulating supply is 3,830,000,000 (~38.30% of the maximum token supply).