No wonder $LAYER has been rising recently; it turns out the #Payfi product has been released!

This Emerald Card produced by @solayer_labs is actually quite an ambitious product. It is not just a "swipe card" crypto bank card, but also a combination of a cross-chain identity system (SolanaID) + DeFi yield account + on-chain reputation platform.

From my perspective as a financial veteran and crypto enthusiast, it represents a closed loop of on-chain identity binding + off-chain consumption scenarios + DeFi yield integration. Let me break it down and discuss it.

First, let's talk about the core advantages of this card:

1️⃣ Global Use + Mainstream Payment Integration

• Supports use in 100+ countries;

• Integrates with Apple Pay & Google Pay, usable at most NFC-enabled terminals worldwide;

• Can withdraw cash from ATMs, effectively entering the offline payment scene;

• For users, paying with on-chain assets = no boundaries, assets can flow anytime.

2️⃣ On-chain Assets → Real USD Consumption

• Cardholders only need to top up USDC, and the system completes USDC-USD Visa settlement;

• Similar to using stablecoins in a DeFi wallet to swipe a real-world credit card;

• No need for manual OTC or CEX transfers, greatly reducing the difficulty of fund inflow and outflow.

3️⃣ Option to Access Treasury-like Yield Products (sUSD)

• Deposit USDC and choose to participate in a 4% sUSD treasury bond yield product;

• The assets in your card can not only be spent but also steadily appreciate;

• Equivalent to a bank card that can "earn interest."

4️⃣ Binding Solana ID — Establishing an On-chain Reputation System

• Bind different on-chain addresses through SolanaID to create a "unified identity";

• The system tracks your on-chain transaction behavior and assigns a reputation level;

• The higher the reputation, the more rights, airdrops, benefits, and privileges you may receive;

• Essentially, it is building an "on-chain credit system" for Web3.

5️⃣ Upcoming Crypto Reward System

• Earn crypto rewards from spending (e.g., $LAYER rebates, NFTs, project airdrops, etc.);

• Upgrade the credit card points system to an on-chain incentive ecosystem;

• Unlike traditional bank points, these rewards can be traded/participate in governance/appreciate in value.

Have you noticed that recently, major projects and exchanges are all focusing on the #Payfi track? Why is everyone actively participating in #Payfi now?

Because #Web3 is currently lacking an "on-chain global credit system." The essence of the rapid development and prosperity of modern finance in traditional Web2 is actually the prosperity of the credit market. And #Web3 urgently needs to fill this gap.

By building the #Payfi system, we can achieve a #Web3 version of credit scoring, realizing your credit level through on-chain "reputation" + "participation history." In the future, more Web3 financial innovations can be developed, such as lending credit, cross-chain whitelists, on-chain employment proof, etc., with opportunities that are self-evident. As #SOL is currently the largest public chain in the U.S., the opportunities and future benefits it brings will also be the greatest, making it worth looking forward to! 🧐

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