LocalCoins are a stimulus reward that can be used as currency for everyday transactions at the listed local businesses.
The LocalCoins are backed by USDC and their price is equal to USDC.
It’s important to remember that each community names its own LocalCoin (e.g. “Gala coin” or a one-word name like “Starz”) and that this name is used in the UrbanChange app rather than LocalCoin.
You can earn LocalCoins upon completion of actions included in initiatives in the app and spend LocalCoins for goods and services at whitelisted businesses (you can find them under the “Pay” screen).
The payment value of each LocalCoin equals one USDC.
To make it easy for you, the UrbanChange app represents the LocalCoins value using your community's official currency as well. If, for example, you reside in a community where the official currency is Euro, you’ll find the approximate value in Euro right next to the original LocalCoin value.
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