Pyusd, Pyusd, Pyusd offers rewards for holders who hold at least 1 Pyusd in their cryptocurrency center. The stablecoin was also launched on the arbitrum chain.
According to the last update on the terms and conditions of the cryptocurrency of the payment company, the stablecoin of Pyusd (Pyusd) is now available on the arbitrum chain (ARB) alongside the Ethereum (ETH) and Solana (Sol) networks. So far, the three networks are “blockchains supported by Pyusd”.
In addition, the payment company has also said that Pyusd now has a reward program in which users can participate. Participants of the Pyusd award program will be able to accumulate Pyusd awards for the amount of stablecoins they hold. As long as the user has at least 1.0 pyusd, he has a chance to receive a passive return.
The Pyusd awards will be accumulated daily in the form of a Pyusd at the “Awards of Pyusd Awards” applicable, which is an annual rate of awards won on Pyusd held in the Center of User Crypto-Monnaies.
“To calculate your Pyusd awards, we apply a daily periodic rate (the rate of Pyusd awards divided by 365) to the average Pyusd balance that you hold every day of the month,” Paypal wrote in his declaration.
The awards will be credited at the user’s cryptocurrency center at the start of each month or within 30 days of the start of the month. Users have the possibility of withdrawing from the award program at any time and they will cease to receive the credited performance.
Paypal’s eligibility conditions for the Pyusd award program
In order to be eligible to receive pyusd rewards, the user must have a cryptocurrency hub account without negative balance. The user balance account should not have pending funds, limitations or restrictions.
Holders of a corporate cryptocurrency center can also participate in the Pyusd award program, as long as the account has no negative balance or any of the above-mentioned restrictions that apply to a regular cryptocurrency center.
In the blog, the United States based payment company has also warned users that Pyusd is issued by Paxos. Therefore, it follows the terms and conditions linked to Paxos, not Paypal. Meanwhile, the payment company can choose to stop supporting stablecoin at any time with notice.
However, he is not obliged to provide users with an termination notice at the end of the Pyusd support as an cryptographic actor.
“You must sell or transfer to an external digital asset portfolio all pyusd token in your cryptocurrency center that Paypal has communicated that it will no longer support,” the payment company wrote in its press release.
