How It Works
Step 1:
Purchase Authorization Codes
To use SOLOS, buyers can conveniently purchase authorization codes using popular payment methods such as credit cards and PayPal by scanning a QR code link provided by the merchant. These authorization codes enable the minting of MARS tokens, the digital currency backed by the Bank of Saipan, utilized within the SOLOS platform.
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Step 2:
Self-mint
MARS
Tokens
After acquiring the authorization codes, buyers can proceed to self-mint MARS tokens via the SOLOS platform. This self-minting process grants buyers complete control over their digital currency holdings, empowering them to manage their transactions independently.
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Step 3:
Send
Tokens to Recipients
Buyers can effortlessly send MARS tokens to the designated addresses of recipients, which can include the merchant as well as other designated supply chain providers. Once received, recipients can utilize the tokens for seamless transactions within the SOLOS ecosystem or opt to exchange them for fiat currency through trusted channels.
Step 4:
Request
the
Payout
Recipients have the flexibility to request a payout by providing proof of burn, indicating their desire to convert MARS tokens into fiat currency. Payouts can be facilitated using various methods, including USDT, PayPal, wire/ACH, and potential future options. SOLOS ensures efficient processing of these payouts in near real-time.
Please note that the steps provided above are a general framework and can be further customized to reflect the specific functionalities and user experience offered by the SOLOS platform.
