Hello NFT collectors!
I recently came across a new feature of the CAIT app, WAX cashback! really! and it works!
If you don't know CAIT (Collective Artistic Investment Token) go check it out, it's a really cool project trying to bring new DEFI features to the WAX blockchain and much more!
We know cashback from the non crypto world in which different shopping portals and credit card issuers give you a small fraction of your purchase back, mostly as a promotion to encourage more shopping.
This is the first time I came across this feature in the WAX blockchain, so I had to check it.
I went to the CAIT app website , clicked on cashback , and logged in with my WAX wallet.
After Registering to the site, you're asked to find the NFT sale you're interested in on Atomichub, and copy the sale ID to the box on the CAIT app. See the process in the following pictures as I buy a cryptomonKey through the CAIT app:
Here I copy the sale ID:
And I fill in the box:
I submit and confirm the purchase, and that's it! I got my new cryptomonKey, and I got my 0.5% cashback!
Here is the transaction to prove it.
Lets look a bit at what happened in the transaction. When a person sells an NFT on atomic hub, he or she pays three kinds of fees:
1. A collection fee paid to the creators of the collection every time the NFT is sold on the secondary market, in the case of the cryptomonKeys, it's 7%.
2. Atomichub fee that goes to the maintenance and improvement of the platform. It's 2%.
3. Tokenomics fee which apparently is determined by the blockchain, WAX in our case. (You can also use EOS for example). Another 2%.
You can see that CAIT got 1% of the initial sale, or in other words 50% of platform fees paid to Atomichub. I suppose CAIT has expenses too , so it makes sense they get part of the fees, and from that 1%, I got half as my cashback, which was 0.5% of the initial sale.
Notice that CAIT also gets a small referrel fee, in the same way I would get a small bonus if you would use the link I post here. 
This was for a purchase of a 5 WAX NFT, but what happens when you buy a 200 WAX? or 1000 WAX NFT? 0.5% becomes significant.
I think this is a great new feature of the CAIT app , and it's just one of the many new aspects they're bringing to the WAX blockchain.
Thanks CAIT!
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Disclaimer: This article has referral links, which means that if you sign up and use the service which is linked I get a small bonus.
