Codemojo, a PayPal backed startup is planning to go for its Pre ICO starting 15th of October with an aim to bridge the $360 bn gap between Virtual Currencies and Real World Merchandises and Services through their solution.
The $360 billion Opportunity
According to COLLOQUY (The Go to source to Global Loyalty Insights), 48 trillion reward points whose perceived value accounts to $360 bn go unredeemed every year across the globe. This is primarily due to the constraints like, complex redemption process, scattered reward point system and limited catalog.
In order to escalate the current situation of Global Rewards market, Codemojo is coming up with solution to mobilize those unredeemed Reward points by upgrading its existing wallet-based Rewards Network to blockchain-based Global Rewards Network through ALLOY, their own cryptocurrency.
The Universal Solution – Global Rewards Network & ALLOY
Global Rewards Network will be a single and secure platform that unites all the stakeholders (Consumers, Brands and Publishers). This platform lets the consumers of partnered brands and publishers to link, combine and convert their reward points to a local fiat equivalent, with which they can opt for product/service of their choice, thereby enabling borderless redemption and rewarding experience.
ALLOY Token will be the reserve currency that will be used in the ecosystem to facilitate cross-border transactions between parties. Though this is similar to that of USD in the international trade, it functions with an exception of being used in the backend enabling transactions between the parties in their local fiat currencies.
ALLOY – An easy to use app Interface for Consumers
For consumers, ALLOY will be a single app interface that is just a download away. Once they download the app, they can sign in and link all their accounts pertaining to any reward program. On linking, they would be able to see their combined value of their reward points in the fiat equivalent, with which they can redeem Reward of their choice across the extensive Global Rewards Catalog.
This means, a user from any part of the world can redeem his/her reward points and choose a product of their choice in any local storefront without any friction.
Added to that, consumers need not know anything about blockchain or cryptocurrency, though they are an integral part of this ecosystem, as ALLOY will remain as an easy to use app interface that will help them see their total worth of their collected rewards points in fiat equivalent of the country they are accessing from.
The ecosystem will be built on top of Ethereum and the Global Rewards Network will use smart contracts to facilitate click & configure partnerships between brands, which in the traditional way would have required a lot of handshakes & paperwork.
ALLOY Token Sale Terms
– The Total Token supply for Pre Sale accounts to 10 million ALLOYs and 40 million ALLOYs for the main Token Sale
– 50% of ALLOYS are to be sold during Pre ICO and the main Crowdsale
– 20% of all the ALLOY tokens will be Retained with the Founding team
– 30% Percentage of tokens are reserved for facilitating Transaction & Incentives
ALLOY Token Holder Perks
ALLOY will be a low risk investment, as ALLOYs distributed today can be used to redeem Real world merchandises and services in the future. Following are the benefits for the ALLOY token holders:
20% Bonus for contributing in Pre ICO
1 ETH = 575 ALLOYs
| Benefits | 1 ETH (Base) | 4 ETH
(Silver) |
8 ETH
(Gold) |
12 ETH
(Platinum) |
| Cashback | 0.5% | 1 % | 1.5% | 2% |
| Premier Access | – | – | Standard Plus Priority | Prestige Plus Priority |
Their Plans and Targets
According to their Roadmap, the alpha version of ALLOY app will be ready to be rolled out during the first quarter of 2018, while the second quarter will be a period of expansion across Japan, Korea, Brazil and other countries and development. For their detailed plan, check out their roadmap.
ALLOY’s Digital presence
ALLOY has been very well received in the digital space for the colossal market size and scope. The team of ICO experts from ICO bench has identified ALLOY to be one of the expected ICOs and has given a rating of 4.6 for 5.
You can explore more about them here and join the Telegram group. For a better understanding of the project, check out their whitepaper.