PolyFlow Points
PolyFlow is the first decentralized PayFi infrastructure that connects RWA (Real-World Assets) and DeFi, aiming to further promote the efficient and free flow of value. PolyFlow has launched a powerful tool for Web3 users—Payment ID (PID). To promote and encourage more Web3 users to engage with and use PID, PolyFlow has introduced a Points system based on PID, creating a comprehensive Points ecosystem.
What is PID?
PID is a decentralized ID linked to encrypted user privacy-protected KYC/KYB information, associating users with cross-platform verifiable credentials. It offers the following features:
Compliant Access: PID can include verification information from different platforms, which can be easily shared via QR codes. This structured method of identity recognition and transaction management simplifies the verification process for partners while maintaining compatibility with the DeFi ecosystem. Crucially, it bridges the information silos previously built by centralized institutions, connecting an open, decentralized identity system through PID, empowering the entire TradFi/DeFi ecosystem.
Privacy Protection: PID uses various technologies, such as zero-knowledge proofs, to fulfill Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) obligations without compromising user privacy. This is a prerequisite for users to participate in the TradFi/DeFi ecosystem.
Data Sovereignty: PID stems from the splitting of transaction information flows. On one hand, it provides regulators with feedback on fund flows to meet compliance requirements. On the other hand, it returns behavioral data on the blockchain back to individual users. Users can contribute PID-tagged data for AI analysis in exchange for rewards and token incentives, which contrasts with the previous practices of centralized institutions profiting from data theft. Moreover, PID plays a crucial role in building on-chain credit systems.
PolyFlow has innovatively introduced PID, providing revolutionary advantages to the crypto payments industry. It not only serves as a bridge between TradFi and the DeFi ecosystem but also offers users a flexible and reliable way to manage digital identities, participate in cross-platform transactions, and establish on-chain credit.
What are Points?
Points are a reward system created within the PID tool. In the PID ecosystem, Points can be earned through interactions such as Scan to Earn, Minting PID, and applying for cards.
What is the value of Points?
For users:
Points can be used to receive $PID airdrops.
Points can be exchanged for physical cards.
Points can increase the daily limit of cards.
Points can be used to offset transaction fees.
Points can be redeemed for PolyFlow merchandise.
Points can be exchanged for tickets to PolyFlow offline events.
Points can be used to accelerate online transactions.
Points can be exchanged for gift cards.
For merchants:
Merchants can use Points for advertising exposure on PolyFlow.
Merchants can use Points to reduce transaction fees.
Merchants can use Points to enhance their merchant tier level.
How to Earn Points?
Users:
Scan to Earn(Earn Points based on the uploaded invoice rating) Users upload consumption invoices, which can include:
Bills (Utility bills/credit card bills, etc.)
Online Commerce (Screenshots, goods payment confirmation)
Receipts (In-store shopping, etc.)
Business Contracts
Web3 Wallet Trading
CEX Trading
Blockchain Trading
Business Contracts
Users will earn double Points if they use crypto for payment.
Mint PID Users will earn Points by minting PID.
Credit Card
Applying for a credit card will earn Points.
Activating the credit card will earn Points.
Using the credit card for purchases will earn Points.
Bind Wallet Address Users will earn Points by binding their wallet address.
Bind Email Users will earn Points by binding their email.
Bind X.com Users will earn Points by binding their X.com account.
Bind Telegram Users will earn Points by binding their Telegram account.
Bind Discord Users will earn Points by binding their Discord account.
Bind Referral Code Users will earn Points by binding a referral code.
Limited-Time Activities Users will earn Points through participation in limited-time activities.
Identity
Earning Points by obtaining relevant Identity Proof through official channels supported by PolyFlow.
Earning Points by obtaining relevant Identity Proof using zkVC tools.
Complete Daily Tasks Users will earn Points by completing daily tasks and limited-time tasks.
Merchants:
Users will earn Points by uploading consumption invoices or payment receipts for the merchant.
Applying as a merchant will earn Points.
Completing KYB certification as a merchant will earn Points.
Agents:
Inviting friends will earn Points.
Transactions made by invited friends will earn Points.
Invited friends participating in Scan to Earn will earn Points.
Inviting merchants will earn Points.
Is there a limit to earning Points?
During the Scan to Earn beta period, there will be no limit on the Points earned. To promote Scan to Earn, users may receive double Points during the event period. Please stay tuned for specific event dates: https://x.com/Polyflow_PayFi.
Last updated