Service Providers
In order for a service provider to access the users of Surf, it has to put some $SURF tokens into a special pool. These tokens act as a guarantee of the service’s honest work.
Furthermore, these tokens are used for making rewards payments to users as part of the loyalty program and commission fee payments to Surf for support services.
In case of fraudulent or dishonest behavior of the service, a part of locked funds can be paid as insurance to the affected users.
The order of resolving insurable events is decided upon by the service provider itself.
A service provider wishing to access the Surf’s audience should perform the following:
● Purchase $SURF tokens;
● Get in touch with the Surf team;
● Provide technical documentation on the service;
● Provide information on terms and conditions of the loyalty program;
● Provide insurance terms and conditions;
● Obtain the smart contract’s address from Surf and the necessary amount of $SURF;
● Send $SURF to the address.
After the above operations are completed, the service will be included into Surf either via a depot or another method such as integration of the service into Surf as one of the service providers.
Surf Users
Users who hold $SURF tokens on their accounts have immediate access to the loyalty program.
The Surf loyalty program is divided into 3 levels which depend on the amount of $SURF on the user’s account:
● Beach break (<10,000);
● Reef break (10,000–50,000);
● Point break (>50,000).
A higher level in the program gives more benefits which depend on the service in Surf and can be the following:
● A higher percentage on staking;
● Cashback for using services;
● Lower commission fees for using payment services;
● Lower commission fees when exchanging crypto via DEX’es;
● Size of insurance compensation paid by Surf’s partner services;
● Premium services with higher APR;
● Other benefits such as free Surf Security Card.
As a rule, benefits are credited onto the user’s account in the form of $SURF tokens.
Apart from this, there are mechanics that don’t provide access to the loyalty program but give benefits to $SURF holders:
● Community pool for staking (average APR);
● Supply of liquidity to $SURF currency pairs (high APR).
