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Lunch Money Files Patent For Digital Assets Backed by Real Feedback

December 1, 2020

The Lunch Money token project is proud to announce their long-term commitment to Crypto mass-adoption through providing utility for Ethereum based tokens through patent. Lunch Money’s patent filing with the USPTO is explained as a “Proof of Approval” protocol, by which digital assets can be bought directly on the market through methods of approving submitted feedback. As described by founding members Jeffery Varnado and Adrian Triplett, restaurant customers can earn passive income simply by providing feedback on their customer experience and a receipt of purchase.

Restaurant customers will receive digital assets directly from the market after their submissions are verified. This protocol will help to onboard and expose restaurant customers to Crypto in ways already familiar, through customer feedback submissions and loyalty reward offerings.

How are Digital Assets Backed by Feedback?

  • After a customer visits a restaurant or uses a food delivery service.
  • Snap a receipt image; a percentage of the total will be the reward value (example, if the total is $100.00, the reward value will be $10.00)
  • Fill out the feedback requirements and choose an asset from the tokens list (for example LMY)
  • Submit the feedback
  • After verification, the approval triggers a market buy from aggregated crypto exchanges such as 1inch, Totle, Uniswap, Balancer and Paraswap
  • The asset is purchased, increasing the value of the chosen asset
  • The token asset is then sent directly from the market to the receive address submitted in the feedback form or it will be sent to the user’s Lunch Money account by default
  • Customers can spend, swap or add the assets into Lunch Money’s liquidity pool and earn passive income

What’s in it for the Restaurant?

How does restaurants benefit from this new protocol? Businesses can register for free and purchase marketing materials directly from the platform to create customer awareness. LMY and other tokens can be earned by businesses through remaining as an active partner and through business referrals. Each restaurant partner will serve as a hub which will become an integral component of the Lunch Money ecosystem. Lunch Money’s restaurant partners will be able to view customer submitted feedback and take advantage of service trends needed to be improved upon.

Read more about Lunch Money’s Digital Assets Patent.