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Token lifecycle

Token lifecycle begins with its minting. 3air, its affiliates or other third-parties would be responsible for token minting and initial distribution as described earlier. Token releases are governed by smart contracts.

3air ecosystem token interactions

Figure 22 3air ecosystem token interactions

The user interacts with the 3air platform through his DID and the 3air token. DID’s can be issued by the ISP provider or a 3rd party service. DID uniquely identifies the user and accompanies all token transactions on the platform. 3air tokens can be connected to the platform with a crypto wallet. Tokens can be spent on ISP services or transferred into staking, governed by a smart contract. Stakers receive staking rewards from the staking pool.

Either token holding or token staking could have an impact on referral rewards, loyalty rewards, microloans, and governance. Referral rewards are distributed to the referrers. Loyalty rewards are distributed either in tokens or as a different type of reward (discounts, freebies) and impact ISP services.

The user can pay for the ISP services with tokens or with the help of a 3rd party fiat onboard ramp. Once a service is paid, tokens are transferred to the ISP provider and a fee is paid to the 3air company wallet. The service provider grants service access to the user through his DID.

Users may eventually use their tokens for voting. The community pool would be under the governance of the token community that may give their opinion on matters such as token burning or funding local community projects.

All participants (token holders) can use centralized or decentralized exchanges to either buy or sell 3air tokens for other cryptocurrencies or, where permitted, for fiat.