Malus
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FAQ
What can I buy using Malus?
As long as someone is selling something, you are able to purchase it. This may include NFTs, clothes, shoes, watches etc. On an average day with gas fees at $10.00 for sending stablecoins on Ethereum, you could purchase items as low as $215.00 and save money on that ERC20 transfer. In the future, we will take advantage of L2 solutions to capture more cheaper everyday item.
What can I sell using Malus?
Any good or service you are giving discounts one is fair game. Take advantage of the protocol to save money that you are losing to attract customers. As long as you are not selling anything illegal, you should be fine. In addition, please ensure that the items you are selling the cashback rate can cover the transaction gas fees.
What if my customers don't return with mUSDC?
Let's say you are giving a 7% discount on to attract customers. If someone pays you $93, you are losing $7 on the actual item. The reality is that there is no way to regain that $7. However, by having 7 aUSDC locked as collateral, even if you don't get replayed, you are still gaining interest on your money. Eventually, this would cover the $7 you would have lost. You would also have the ability to sell your collateral at a lost if you really need the money.
What is the minimum and maximum amount I can spend?
This all depends on two factors which are the gas fees and the amount staked. An average $10 gas fee for stablecoin transfers on Ethereum could allow you to spend a minimum of 215 USDC and receive 15 mUSDC. As for the maximum, there is no limit. As long as a seller has enough aUSDC stake, your cashback purchase will be covered.
How much gas does it cost?
The amount of gas it cost to perform your payment for cashback can vary based on a few different factors. It usually ranges from as low as 20% to 50% your original cost to perform your payment. USDC will always give the worst case which is about 50% while DAI is closer to 20%. Let's take USDC for example. If it originally cost $10 to make a payment, it might cost you $15 to perform a cashback payment. This would allow you to pay 215 USDC and receive 15 mUSDC without paying any fees.
How do I verify my ENS name?
You must ensure that the ENS name is set to the store you want to be verified along with all other necessary information. After which, you must reach out to us on your discord channel in the verification channel. Please provide your name, ENS name, association to the business, and the business description. If the information you provided misleading, the community will be able to help us with that.
If your ENS name is verified, changing information on the store will automatically remove verification. Accidents do happen which can be be fixed, but spamming will absolutely not be accepted.
Last modified 8mo ago