What is UQC? UQC is a decentralized virtual currency based on the ERC20 Token, one of Ethereum's technological trends. The purpose of this blockchain asset is to support the development of the UQUID Ecosystem. Token holders will have the advantage of instantly and effortlessly converting their tokens into cash.

Smart contracts, smarter shopping Uquid aims to establish a connection between DeFi and e-commerce through Defito, a new ecosystem that introduces innovative concepts in the retail sector.

Shopping mining refers to the generation of new tokens or coins whenever a customer makes a purchase. Smart contracts ensure that these assets can be used for future transactions. This automated and immediate process eliminates the flaws associated with current loyalty schemes.

The ecosystem also incorporates features inspired by automated market makers, which create liquidity pools of tokens. Through automated shopping making, customers can access pools of goods from multiple suppliers, allowing them to track product availability and price, ultimately securing better deals.

Over time, these smart contracts are expected to facilitate direct connections between merchants and shoppers, reducing costs for both parties. Uquid believes that DeFi can accelerate the growth of e-commerce businesses and expand their customer base worldwide, potentially transforming global trade.

Uquid's digital shop, which offers over 40,000 digital products such as video games, gift cards, subscriptions, and mobile top-ups, is one of the first places where users can utilize this ecosystem. The platform utilizes a Lightning Network node to expedite and reduce the cost of transactions. New products are regularly added, and the site plans to introduce physical items in the near future.

As brick-and-mortar retail declines, retailers are innovating to stand out in a competitive market. DeFi, having disrupted the financial sector, may soon make its way into your shopping experience.