At launch, the PackBack rewards will only be accessible for the in-wallet swaps but we are aiming to launch the Secure Trade, and Store implementation in the weeks following the launch.
To celebrate the launch of $PACK, the percentage of PackBack rewards at TGE will be: 25% of the fees collected by HashPack.
Rewards may be increased during special promotions, and the team intends to continue adding new services to the PackBack program as we continue development of the wallet.
Finally, for those users that do not have $PACK associated with their account but leverage any of the PackBack rewarded services, at the moment of using those services, an association transaction will be sent through the account so the user can collect their rewards with no additional steps.
We see the PackBack rewards program as a great opportunity to make entering DeFi less daunting. We are excited to see new entrants who are not familiar with web3 start leveraging HashPack services like the in-wallet Swaps or Secure Trade and consequentially receive an HTS token to start participating in the broader DeFi scene in the Hedera ecosystem.
User Swaps: 1,000 HBAR to Sauce
Fee Collected: 1,000 * 0.7% = 7 HBAR
PackBack Reward: at launch percentage (25%): 7 * 25% = 1.75 HBAR worth of PACK
In this scenario, the user swapping 1,000 HBAR will receive the equivalent of 1.75 HBAR in PACK at the market price of PACK at the moment of the swap.
The percentage of PackBack Rewards will fluctuate depending on the amount vesting to the community multi-sig, and promotions or campaigns.
The base percentage (meaning the minimum amount users will receive back at any point in time) will be the following:
In-wallet Swaps: 5% of fees.
Secure Trade: 5% of fees.
HashPack Themes and Store purchases: 5% of purchase price.
