Cold Wallet implements a cashback model that returns part of fees to users, potentially aiding in mainstream crypto adoption.
Cashback Model in Crypto
Cold Wallet offers users cashback on gas, swap, and bridge fees in the form of CWT tokens. This creates a motivating cycle where user activity funds further engagement. Such an approach is capable of removing barriers for new users and encouraging regular use of applications.
Acquisition of Plus Wallet
Cold Wallet acquired Plus Wallet for $270 million, instantly adding over 2 million active users to its ecosystem. This strategic move allows Cold Wallet to launch with an existing user base, helping to avoid the typical 'dead zone' after a project launches.
User Retention Benefits
Rather than simply increasing user count, Cold Wallet focuses on retention. By refunding fees, they provide incentives for action. Each time users conduct transactions, they also earn CWT tokens, enhancing engagement and supporting long-term growth.
Cold Wallet presents an interesting approach to overcoming the barriers in crypto with its cashback model, motivating users to stay in the ecosystem and engage in active participation. We will be watching how this initiative impacts the future of crypto.
