The ExoLover platform utilises blockchain technology and transactions consist of two cryptocurrencies; EXO and LOVER.
These currencies or ‘tokens’ are used as payments for connections. The LOVER token is designed to be ‘stable’ which means it is always equal in value to one US dollar.
All instances in which LOVER tokens are used are duplicated in the blockchain by the EXO cryptocurrency and are all settled to the ledger in EXO with the current exchange rate taken into account.
In the user interface, both currencies are displayed with the equivalent amount in US dollars also being shown. This is done for the convenience of users and relieves them of the need to calculate the cost of a connection in EXO which has a dynamically changing rate. Instead, the built-in settlement blockchain module will automatically calculate it for them. For example, if within a connection, two users each used one LOVER token, at this moment the blockchain billing module deducts equivalent EXO amounts from the deposit of each user and sends both amounts to the smart contract «Proof of Connect», this validates the user connection and distributes the received amount according to a certain algorithm. This algorithm splits the money to the digital wallets of the following: ExoLover founders, platform operators, content providers and manufacturers (toy seller).
The use of this smart contract ensures fast and transparent transactions between the parties providing the connection. The smart contract safely protects the content used from theft and also facilitates the transition to a new business model that allows the manufacturer to profit from their product every time it is used on the platform. The utilization of tokens by the users within the smart contract is nothing more than a vote for the content and devices they use in this connection.
The use of blockchain significantly expands the platform's capabilities to connect many other services, such as the services of a sexologist, sex therapist, sex trainers, and even individuals who produce their own content. Given the growth potential of the ExoLover platform, receiving tokens as payment should be very beneficial for businesses providing their services on the platform. On the other hand, the influx of new users and an increase in demand for Lovers / Exo tokens will also have a positive effect on the attractiveness of this payment option.
The platform, in turn, will ensure the circulation of tokens on exchanges through the services of coders. This is a special service of third parties for replenishing the balance of LOVERs. The platform and the contractually associated coder are not entitled to exchange data about their clients by mutual obligations. The coder knows all the relevant information about his client but does not know his status and account in the Exolover platform, while the platform identifies the user by his unique identifier but does not know anything about the user himself. This ensures the anonymity of users when making payments. The user who buys LOVERs on the coder’s website receives only an encrypted code, and the platform also receives the same code. If the code entered on the application matches, the balance of the purchased LOVERs is added to the user.