This article focuses on how ELIX plans to add token discounts and rewards to our platform. We’ll also go into how tokens can be used for product placement and for social media features on ELIX.
Discounts For Backers And Buyers
One use case for tokens is for backers and buyers to receive discounts when purchasing products. For example, creators and sellers could be entitled to the following discounts:
- 10% off fees when holding 10,000 tokens
- 100% off fees when holding 100,000 tokens
For backers or buyers regularly using the platform, tokens would provide a way for them to save and serve as a customer loyalty program. The benefits of token discounts could also be made to increase, for example, as customers stayed longer and used the platform more.
Discounts for Creators And Sellers
Similarly to backers and buyers, creators and sellers could use tokens to receive discounts. Once a seller has a good experience and sees an increase in backers or sales, they’re inclined to look into ways they can mitigate fees in the future.
Tokens For Product Placement
ELIX tokens could also be used to spotlight or feature projects on the front page. Similar to how Product Hunt offers the option to pay to promote upcoming products, creators and sellers could use tokens to place their products and campaigns on the homepage of ELIX.
Tokens For Blog & Social Media Features
ELIX has a very active social media presence. With channels like Twitter, Instagram, Facebook, as well as both a website and Medium blog, there’s plenty of places on social media to feature and highlight stellar products and campaigns. Channels like the ELIX blog would be great ways to feature stories and inspiration behind great ideas.
Tokens As Referral Rewards
To encourage involvement in the token ecosystem and to incentivize customers to come back, tokens could act as rewards for referring new customers. Both the referrer and the new customer could receive a reward in tokens.
This token model encourages repeat customers to acquire tokens early on to lock in future discounts for a period of time. A discount period would define a time frame in which specified discounts could be applied, regardless of fluctuations in the token value. This would alleviate concerns around volatility. Since the open market value of the tokens will fluctuate based on supply and demand, once the platform starts growing quickly, creators and sellers would want tokens as soon as the earliest signs of high momentum growth began.
These are just a few ways tokens can be introduced into the ELIX platform as discounts and rewards. Feel free to contribute your ideas and feedback and how they could be used on our social channels. We may alter or modify these possibilities as we experiment to find the perfect fit.
In the meantime, create your own product and campaign in just a few minutes by signing up for ELIX here.