DevourGO Establishes Devour DPAY as the Payment and Rewards Token for the Restaurant Industry

DevourGO Establishes Devour DPAY as the Payment and Rewards Token for the Restaurant Industry

Content provided by various contributors. DYOR.

The global economy is steadily transitioning from Web2 to Web3, and the restaurant industry is no exception. In this context, DevourGO has established Devour DPAY as this sector’s payment and rewards token.

The strategy offers restaurants a way to connect with Web3 communities while giving their guests real-world recognition for their affiliations. The project has three core utility pillars – crypto payments, DPAYBack rewards, and NFTs. In this way, DevourGO’s ecosystem creates a win-win relationship between restaurants and their customers.

This article will explore how the system works in detail and discuss its various features. We will focus, in particular, on the project’s tokenomics and the wide range of use cases it offers.

What Is DevourGO?

DevourGO is changing the way food ordering works. Restaurants may expose their menu to NFT communities, Web3 brands, and token holders on this platform.

Guests can benefit from real-world recognition for their community affiliations and exclusive offers like secret menu items. These features seek to make restaurants and visitors happy while simplifying Web3 technology. 

The Project’s Utility Core

The Devour team puts utility for its community members at the core of its mission.

By leveraging NFTs, token gating, and gamification mechanics, DevourGO creates an exciting ecosystem that connects fans and brands with restaurants. This platform puts the real-world utility into play by turning the user’s digital collectibles into access keys to unlock restaurant promotions, hidden menu items, and exclusive VIP experiences.

Restaurants benefit from a new vibrant demographic of customers they would not normally reach. The next generation, which has never known life without the internet, demands a higher quality digital experience when engaging with brands.

Understanding How the Devour Ecosystem Works

Before looking at the DPAY token, it is fundamental to understand how the project’s ecosystem works. Specifically, here are the three pillars of the project:

  • DevourGO: This is the project’s food ordering marketplace, where users can create an account to start earning rewards. Customers can order food for delivery or pickup from DevourGO’s partner restaurants and earn DPAY tokens.
  • DPAY: This is the project’s utility token which allows customers to access exclusive promotions and rewards. DPAY is the only payment and rewards token for the DevourGO marketplace.
  • The Industry (Collection): This is an NFT collection that brings together additional benefits and experiences for customers who use DevourGO. It comes with no delivery fees, $10/mo $DPAY rewards, and access to GoVIP Level 4 (the project’s play-to-earn game).

These pillars let customers enjoy a fully integrated Web3 experience as they pay with crypto, earn rewards and unlock promotions.

The DPAY Tokenomics

The DPAY token is an ERC-20 cryptocurrency designed to enhance the project’s ecosystem of payments and rewards. The token launched in August 2022 with the following distribution:

  • Seed sale (5%): The seed sale (initial exchange offering) saw the participation of different early investors, who received an initial amount of tokens.
  • ILO presale (2%): This was the second stage of the offering, where investors could contribute and receive DPAY tokens in exchange.
  • Treasury (18%): A portion of the token supply funded development needs such as operations costs and other expenses related to the project.
  • Advisors (5%): Early project advisors received a portion of tokens as a reward for their contribution.
  • Marketing (10%): A portion of the token supply helped launch marketing and promotional activities to expand DPAY’s user base.
  • V1 Migration (10%): This portion helped the team handle the migration from version 1 of the DPAY platform.
  • Team (10%): Some tokens went to the team project creators, a standard quota in the crypto industry.
  • Floating liquidity pool (20%): This portion of tokens served for open market trading and liquidity provision.
  • Community & LP rewards (20%): This portion of the token supply rewarded early adopters, holders, and liquidity providers.
  • Limited Circulation: Very importantly, less than 20% of the total supply is in circulation, with the rest locked up, demonstrating the founders’ and community’s long-term interest in the token.

The total amount of 5 billion tokens represent a capped supply. The token utility consists mainly of payments and rewards, incentivizing the usage and adoption of DPAY for everyday transactions.

Understanding the Wide DPAY Token Utility

The utility is essential to any token, allowing holders to receive real-world value and benefits. Tokens with strong utility can provide substantial value to users far beyond just being a store of value or speculative asset.

This section will explore three core use cases for the DPAY token. We’ll look at them below to see how they work and why they are important for the company’s future.

Paying for Food Orders

Devour DPAY is an exclusive payment and rewards token that allows users to save money while ordering food on DevourGO. For every order placed using the token, customers receive a 5% rebate with DPAYBack.

This makes it incredibly easy to save money while enjoying delicious meals delivered right to one’s doorstep. In addition, the DevourDPAY token is secure and reliable, ensuring customers have a fast and seamless experience with every order.

Earning with NFTs

The project’s NFT collection – labeled “The Industry” – is a way to honor the hard work of restaurant workers. By collecting these digital assets, you’ll access exclusive DevourGO promotions and unlock the most rewarding levels of GoVIP, DevourGO’s spin, share, and play prize zone.

The Industry also allows you to enjoy no delivery fees on orders placed through DevourGO. Plus, you’ll get $10 DPAY a month. This is a way to show appreciation for restaurant workers and enjoy DevourGO benefits simultaneously.

Collecting Passive Income Rewards

Staking and yield farming are two major trends in the crypto space. By staking your DPAY tokens, you can gain passive income rewards. 

With yield farming, you earn rewards by providing liquidity to the markets. Both strategies allow you to collect rewards without actively trading or managing funds.

Let’s begin with staking. Here are the steps you need to follow to join this rewards program:

  1. Select “Staking” on the project’s website
  2. Once you see the Unicrypt website, click “Connect” to connect your wallet.
  3. Next, enter the amount of DPAY or LP tokens you wish to stake. Furthermore, you’ll need to select when you want to lock your coins.
  4. Click “Approve” to confirm the transaction and pay the gas fees. Then, choose “Stake” and pay the gas fees again.
  5. Finally, subscribe to the rewards pool and collect passive income rewards.

Yield farming is a bit more complex than staking. However, you can get started without worrying about technicalities with the right guidance. Here are the steps:

  1. First, you will need to create LP tokens using Uniswap. Then, connect your wallet and input the ETH you want to pair with DPAY tokens.
  2. After creating the LP tokens, head to the project’s website and click “LP Farming.” Connect your wallet with the LP tokens you created in step one. Enter the amount of Uni-V2 token you want to use and select the time boost option you prefer.
  3. Approve the transaction in your wallet and click “Stake & Confirm.” This will ensure your tokens appear in the “Your Staking” field.
  4. Finally, subscribe to the rewards pool and begin collecting rewards.

Following these steps can earn passive income through staking or yield farming. Both systems are gaining popularity in crypto and are a growing way to generate extra income.

Bottom Line – A New Resource in the Restaurant Industry

DevourGO, through its DPAY token, has created a secure and reliable payment system integrated into the restaurant world. This token, combined with the NFTs and rewards, is a way to save money while recognizing the restaurant workers’ importance.

Bitcoin live price
Btc
Bitcoin
$27.941
price
0.89264%
price change
TRADE NOW

The DevourGO project is a resource for restaurants that offers customers a secure payment system and rewarding benefits. In addition, the project’s website and social media pages (Twitter, Telegram, or Instagram) let customers follow its latest developments.

Read more from author

Editor's picks

ArtHouse Spirits DAO – Tokenized Alcohol Combined with Real Crypto Benefits

The crypto space is the ideal nurturing environment for like-minded individuals to form communities and enjoy shared interests and activities. One such club is ArtHouse Spirits DAO (AHSD), an exclusive association of high-net-worth people who appreciate pricey, aged rums and unique, real asset-backed NFT collectibles. AHSD was born to reward rum connoisseurs with a digital club in the emerging web3 world. Here, they can enjoy rare benefits, physical perks, VIP events, and voting rights within the decentralized autonomous organization. Furthermore,…

ArtHouse Spirits DAO – A Project Combining Tokenized Rum with Real Benefits

We live in an era of unprecedented technological advancement, with the potential to combine traditional industries with new digital technologies. ArtHouse Spirits DAO is a project combining tokenized rum with real benefits while leveraging the Dictador brand and artistic collaborations. By appealing to an élite group of high-net-worth individuals, this project aims to create a luxurious community. Here, members can benefit from exclusive events, investments, and more. Today's article will explore the project’s potential and its team's roadmap, giving you…

A Detailed Analysis of Euler Finance’s $196 Million Flash Loan Attack

On 13 March 2023 at 08:56:35 AM +UTC, DeFi lending protocol Euler Finance experienced a Flash Loan Attack. Euler Finance is a protocol that operates as a permissionless lending protocol. Its primary goal is to facilitate lending and borrowing of various cryptocurrencies for users. The UK-based tech startup utilizes mathematical principles to develop non-custodial protocols on Ethereum and other blockchain networks, with a focus on achieving high performance. Based on on-chain data analysis, the attacker has successfully executed multiple transactions resulting…

DevourGO Establishes Devour DPAY as the Payment and Rewards Token for the Restaurant Industry

The global economy is steadily transitioning from Web2 to Web3, and the restaurant industry is no exception. In this context, DevourGO has established Devour DPAY as this sector's payment and rewards token. The strategy offers restaurants a way to connect with Web3 communities while giving their guests real-world recognition for their affiliations. The project has three core utility pillars - crypto payments, DPAYBack rewards, and NFTs. In this way, DevourGO's ecosystem creates a win-win relationship between restaurants and their customers.…

BingX – A Crypto Exchange with Enhanced Copy Trading Features and More

As the number of traders in the crypto industry grows, different people look for different products to suit their needs. One of the most popular names in the cryptocurrency industry is BingX. It's a popular crypto exchange that offers spot, contract, copy, and grid trading to millions of customers in over 100 countries. Today's review will examine BingX and its features, focusing on copy trading and other essential platform aspects. What Is BingX? BingX is a leading crypto exchange that…

An Account of the Recent White Hat Attack on DeFi Protocol Tender.fi

In the latest development in the world of Decentralized Finance (DeFi), Tender.fi, a DeFi lending protocol, fell victim to a white hat attack. The alleged ethical hacker behind the attack had managed to drain a whopping $1.6 million from the platform, forcing the service to halt borrowing while it attempts to recover its assets. The attack, which took place on Mar-07-2023 at 08:21:38 AM +UTC, has caused significant concern among the DeFi community. According to Numen Cyber’s on-chain monitoring, the attacker siphoned 198…

Is Polkadot a Good Investment in 2023?

Since the inception of cryptocurrency, the bull run and the bear market have had significant impacts. In fact, because of the volatile nature of cryptocurrency, these are two sides of the coin every crypto investor anticipates when investing in the market. While investors look forward to the bull run, the bear market, also known as "crypto winter," is the dread of any investor.  As of 2022, a report by CNBC stated that cryptocurrencies suffered a considerable decline, losing about $2…

Clinton and Epstein’s Flight Log Now An NFT Collection by ViceHub

Crypto enthusiasts have found a new way to immortalize history with the launch of 'Lolita Adventures.' This NFT collection is based on former US President Bill Clinton and late financier Jeffrey Epstein's flight log. ViceHub, an Ethereum and Solana-based NFT project, has created this collection combining satire and journalism to tokenize a piece of history. The Idea Behind this New NFT Collection The crypto space is witnessing yet another project working to change the NFT narrative. Through Lolita Adventures, this…

What Are Crypto Copycat Projects?

Crypto copycat projects are cryptocurrencies designed to imitate the functionality and success of existing cryptocurrencies. These projects typically try to capitalize on the popularity of established cryptocurrencies, such as Bitcoin, Ethereum, or Binance Coin, by offering similar features, branding, or even a name close to the original currency. The aim of copycat crypto projects is often to ride the coattails of the original cryptocurrency's success and make a profit by selling tokens or coins to investors who are attracted to…