US 12,393,932 B2
Distribution of collateral token rewards
Zachary Kilgore, Brooklyn, NY (US); Tyler Robert Spalding, New York, NY (US); and Trevor Filter, New York, NY (US)
Assigned to Flexa Inc., New York, NY (US)
Filed by Flexa Inc., New York, NY (US)
Filed on Jun. 30, 2021, as Appl. No. 17/305,154.
Application 17/305,154 is a continuation of application No. 16/695,459, filed on Nov. 26, 2019, granted, now 11,238,444.
Prior Publication US 2021/0326982 A1, Oct. 21, 2021
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 20/38 (2012.01); G06Q 20/06 (2012.01); G06Q 20/10 (2012.01); G06Q 20/22 (2012.01); G06Q 20/36 (2012.01); G06Q 40/04 (2012.01)
CPC G06Q 20/381 (2013.01) [G06Q 20/0655 (2013.01); G06Q 20/223 (2013.01); G06Q 20/3678 (2013.01); G06Q 20/389 (2013.01); G06Q 40/04 (2013.01); G06Q 20/10 (2013.01); G06Q 2220/00 (2013.01)] 14 Claims
OG exemplary drawing
 
1. A method comprising:
depositing, by one or more of a user computing device and a staking user computing device of a cryptocurrency collateral system, collateral tokens in a stake pool of the cryptocurrency collateral system, wherein the staking user computing device deposits the collateral tokens for purposes of earning rewards;
initiating, by the user computing device, a payment with a merchant computing device of the cryptocurrency collateral system via a network computing device of the cryptocurrency collateral system, wherein the merchant computing device accepts a desired currency;
determining, by the network computing device, an amount of collateral tokens required to back the payment;
locking, by the network computing device, the amount of the collateral tokens in the stake pool to back the payment;
sending, by the network computing device, an amount of the desired currency to the merchant computing device to complete the payment;
sending, by the merchant computing device, a fee to the network computing device for facilitating the payment, wherein the fee is a second amount of the desired currency;
converting, by the network computing device, the fee from the second amount of the desired currency to a second amount of collateral tokens; and
depositing, by the network computing device, the second amount of the collateral tokens in the stake pool as rewards by:
determining, by the network computing device, percentages of the rewards corresponding to one or more smart contracts of the stake pool associated with the one or more of the user computing device and the staking user computing device; and
depositing, by the network computing device, the percentages of the rewards in the one or more smart contracts.