CASHBACK (cash back) - a term that is used in the areas of online trading and banking as a bonus program to attract customers and increase their loyalty. Minter also encounters this term among projects created on the blockchain, where one or another product can be purchased with a BIP coin or a custom project coin.
On the Minter blockchain, competitor projects have been created that attract users by offering cashback for a particular purchase using their service. The most common cashback is a custom project coin.
You decided to book a hotel through a certain service using a BIP coin when paying. In this service, to get a cashback of 15%, you need to pay in the custom coin of this project. To make a purchase on the proposed conditions, the buyer needs to convert a certain number of BIP coins into a custom coin of the project. Then make the payment.
Cashback can also be found in offers from validators. There are projects that are in partnership with nodes.
Validator Minter Capital, is a partner node of the Minter Millor project. The validator commission is 6%, but for delegators of the MILLOR coin, the service fee is 1%, and 5% is returned daily in the form of cashback to your wallet.
Each validator has its own conditions of encouragement, as well as commission for delegation. Before delegating your funds to a node of your choice, first study its strength, rating, commission percentage and an important point, block omissions. You can read about this in previous posts.
Cashback is not only a term whose history begins in the USA, but also a great opportunity to save your money.