While cryptocurrency is known for speculation and investment, it does have the basic function of money - payment. This function is often forgotten, but large retailers, such as Microsoft and Starbucks, as well as small businesses have begun to accept payments via cryptocurrency for their goods and services. Cryptocurrency payments offer a low cost, efficient and fast way to transfer money. International transfers do not require the use of local legal tender. Although a fee is charged, crypto payment services are usually more intuitive than wallets. Currently, there are many attempts in the crypto payments circuit, all trying to solve the problem of how to lower the barrier and pull in more adoption. The advantages of crypto payments in terms of underlying architecture, clearing and settlement, and borderless attributes will not be discussed further, so let's talk about the ways to play beyond the payment foundation today.

　　If you can also get some returns in the process of payment, can Web3 education with gameplay attached to the convenient usage experience brought by the wallet become a driving force for Web2 users to enter Web3 voluntarily? Let's take a look at ChiChaPay - the first pay and learn based SBT infrastructure for mass Web3 adoption to help users and businesses enter the Web3.0 world and enhance the future of the community owned economic ecosystem.

　　What is ChiChaPay?

　　It is an all-in-one Pay-to-Earn payment that seamlessly connects the fiat and cryptocurrency economies for consumers, merchants, developers and institutions worldwide.

　　It is Learn-to-Earn Dapp that enables merchants to earn, earn and own shares of cryptocurrency through a gamified experience.

　　It is an infrastructure based on SBT, managed cryptocurrencies, credential data, and decentralized IDs.

　　For different users, ChiChaPay's offers targeted payment services. Notably, it offers offline custom scenarios for stores and merchants, which can be personalized on a case-by-case basis.

　　Technology of ChiChaPay

　　Flexible payments, either in cryptocurrency or fiat currency

　　The key to "account-based" payments is the system of accounts and the exchange between fiat and digital tokens in compliance with local regulations.ChiChaPay creates accounts for users based on the type of digital tokens and provides compliant third-party fiat exchange channels for exchange, after which the digital tokens are credited to the user's account balance. Users can choose to pay in fiat currency or digital tokens based on their account balance.

　　Cross-chain Swap

　　ChiChaPay uses ZK-rollup based chain bridge technology to implement payments. the main architecture of ChiChaPay cross-chain swap module is divided into four layers: two original chains responsible for locking and releasing asset execution contracts, a state monitor for the contracts on each chain, a second layer protocol that handles transactions and synchronizes state, and a second layer state monitor.

　　Stake and Swap: With the ChiChaPay wallet, users can store their cryptocurrency assets, have their first cryptocurrency wallet, and perform collateral, swap, and transfer transactions.

　　Features of ChiChaPay

　　Extremely low processing fee: ChiChaPay's rate of 0.37% is almost one-tenth of Visa/Master's rate.

　　Close to real-time settlement: the traditional Visa/Master >10-day calculation cycle has been difficult to meet customer needs.

　　Pay-to-Earn: token rewards from ChiCha as long as ChiChaPay is consistently selected.

　　Supports merchant wallet addresses as well as QR code scanning payments.

　　Non-merchant consumers, in addition to the great convenience of payment, will also receive Pay-to-Earn token rewards from merchants for continued use.

　　Companion Learning Dapp: GaMerchant

　　GaMerchant, a learning dapp that earns cryptocurrency through a gamified merchant experience, takes a streamlined approach to education by combining immersive (experience-based) learning with inquiry-based (curiosity-based) learning, allowing users to Learn-to-Earn by taking the simplest Web3 information and successfully passing a quiz to be rewarded with tokens.

　　ChiChaPay's SBT&DID

　　The ChiCha SBT&DID data comes from two sources. One part is the system closure from ChiCha's own Dapp (currently 3, more to come), and the other part is the collection of data from other knowledge graph protocols and DID projects for macro analysis.

　　SBT and DID are mainly carried out in Dapp, with ChiChaPay wallet as the core. It takes the form of NFT, tokens and on-chain credits (similar to Zhima Alipay's Alipay credits).

　　The dimension of SBT collection also lies in the comprehensive assessment of SBT users' behavioral accumulation, POAD (proof of assets and identity) and interpersonal relationships through the combination of on-chain data and scientific algorithms.

　　Its application scenarios include payments, lending, order taking, liquidity mining, gaming and social rights.

　　ChiChaPay's tokenomics

　　The importance of a protocol's tokenomics cannot be overemphasized, as they reflect the value flowing through the ecosystem and also contain the psychological and behavioral dynamics that may have a long-term impact on the value and sustainability of the ecosystem. Prioritizing liquidity and utility while maintaining stability and ensuring long-term sustainability, ChiCha places a high priority on taking the necessary steps to deal with changes in token prices.

　　1. reward users with certain rules for participating in three applications and one infrastructure, such as a badge system, first review reward NFT, first payment reward NFT, and first completion of learning reward NFT. form a complete token and NFT incentive system.

　　2. In addition to Web3's token rewards, ChiChaPay can also offer unique in-kind discounts to partner merchants and users, such as dine-in, free books, or the chance to participate in iPhone sweepstakes through crowdfunding.

　　3. These items and rewards can be spread in social networks (chichat) and games and social mechanics can be designed such as stealing, robbing and gaining through social behavior.

　　Thousands of merchants enter ChiChaPay and become loyal users through the "earn" model, forming a vibrant community with vast scalability and high engagement, leveraging decentralized social networks and viral growth.

　　Summing up

　　The payment thing in most cases actually appears in two groups, one is merchants and the other is consumers, and the problem that cryptocurrency payments need to solve is actually how to pull these two groups into Web3 to the greatest extent.

　　ChiChaPay opens accounts for users based on the type of digital tokens and provides a compliant third-party fiat exchange channel for exchange, and the allocated tokens are credited to the user's account balance. Using blockchain technology, users can choose to pay in fiat currency or digital tokens depending on their banking preferences and balances.ChiChaPay is more of a decentralized platform where users and merchants are not mandated by large corporate banks and therefore charge a fraction of the cost of centralized finance. Creatively combining a cryptocurrency payment system with X2E, an educational approach, Pay-to-Earn, Learn-to-Earn, where adoption and learning are rewarded, users directly experience the beauty of Web3 in the most direct way possible, triggering positive feedback of interest and motivating users and merchants to use ChiChaPay products, and merchants by offering offline/online payments and allowing consumers to choose between digital or legal payment options to further incentivize. All of this is bound to help drive the mass adoption of Web3 payments, which is already moving steadily forward.