2Local has been presented as a loyalty program that is powered by a rapid blockchain technology that supports local-2-local with sustainability. It is ERC-21 compatible and deals with Local L2L tokens which are designed in a manner that it rises in value because of its cashback system.
2Local is a venture that aims to achieve equal prosperity and a sustainable world. This platform also has a separate payment app that is operable on a decentralized multi-currency wallet. It also serves as a marketplace app that will connect consumers to connected sustainable companies. With the help of the coins, the user will use while making purchases, they can expect a cashback once every month along with the increase in the value of the L2L coins. The transfer costs also are affordable which literally makes this a free loyalty program.
With the help of L2L coins for payments to create liquidity, a new user will imply an increased demand in the L2L coins. 2Local would purchase the L2L coin from the exchange with the help of a smart algorithm. The rate for all its stakeholders is fixed at 1% much below the exchange rate. The coins are then kept in buffer storage so that interest can be gathered which will then be added in the cashback system. The connected companies have a bright chance of concerting their cash back into fiat money from this initiative.
The CEO of 2local.io Antony Chang explains, “Stable coins are bound to the monetary system, what we need is a stable rising cryptocurrency.”
How the process works
The company would buy L2L coins from the exchange a month before it is available on the mobile application providing the necessary fodder for operations and to fund the cashback system. In order to keep the price of L2L steady, the company keeps a reserve of L2L coins. When the price rises it will see the coins and pretty much obvious that it will buy when the price falls to take advantage of both the situations. The price monitoring happens with the help of a smart algorithm
The company’s aim is to provide a network of cooperation between sustainable producers and consumers. Its initiative is committed to the forces of equitable and sustainable growth objectives of the UN.
Just like L2L bringing loyalty to the next level, Murtha Burke the marketing partners of 2local.io have ensured loyalty in a great distribution to bring on board customers who are interested in the Loyalty crypto called L2L.