GYQ utilities

The $GYQ utility token will have several functions within the Logyq ecosystem, serving as an incentive mechanism for all users in the ecosystem.

Specifically, $GYQ will have the following functions:

  • sellers are able to stake or spend $GYQ to access special features (visibility on the homepage, visibility in the newly registered sellers section, etc.).

  • sellers are able to stake $GYQ to achieve "guaranteed seller" status

  • sellers reward their customers for posting reviews in $GYQ tokens (guaranteed sellers can access discount rates in this regard). Reviews have a different paying rate whether they are a simple star-based review or a written, in- depth one; the amount of tokens rewarded can however be customized.

  • sellers are remunerated through the aggregate data that Logyq gives to third parties (with the permission of the vendor)

  • customers receive $GYQ tokens for each review they make.

  • customers spend $GYQ tokens within the Logyq ecosystem to obtain special features or reserved promotions and discounts from partner vendors

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