Awake Payment Token
The AWAKE Payment Token is a “stable coin” with low transaction costs that is registered on the AWAKE blockchain and will be used by all participants within the AWAKE Ecosystem as the `de facto` internal currency for all transactions of goods and services. This includes the payment of hotel nights, property rent, food & beverage, tours, excursions, merchandise, airport tickets, marina slips, entrance fees of the attractions, use of the wellness amenities, activities and much more.
The use of the AWAKE Payment Token facilitates easy, transparent, decentralized and secure transactions for all participants, like guests, residents, staff, suppliers and the families of the surrounding communities.
The use of AWAKE Payment Token also allows for more transparent “pricing” and “rating” of the different products and services, which improves competition, motivation, commitment and service levels, which results in lower price levels and an higher quality of the overall visitor experience.
To avoid price volatility the AWAKE Payment Token is designed as a `stable coin` that is pegged to the dollar. The value of 1 AWAKE Payment Token is set at US$ 1.00.
The actual conversion rate between AWACOIN and the AWAKE Payment Token is only defined by the market value of AWACOIN, since the AWAKE Payment Token is a “stable coin”.
In order to reduce the downside risk for the token holders we have set the minimum conversion rate between AWACOIN and Participation Tokens at: 1 AWA = US$ 1.00.
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