Loyalty programs have proliferated across travel, retail, financial services and Food & Beverage (F&B) industries. The total value of the loyalty rewards program market is estimated to be worth a staggering USD 500 billion. While an average household has enrolled in an average of 25 programs, the actual utilization of these reward points varies from 10% to 80%, depending on the sector. This presents a huge gap in which company wants to address. In the company present era of a sharing economy, how could company release an over-supply of loyalty rewards and transfer it into the hands of consumers who really appreciate these offers?
The inefficiencies are include:
- High Costs to Operate: A fully functional digital loyalty program is very costly to manage -resulting in less value for customers & a barrier for smaller brands/retailers to operate a digital loyalty program.
- Restrictive Rewards: Rewards today can only be redeemed with the issuing retailer/brand - hence customers are disengaged causing low redemption of rewards.
- Lack of Intelligence: Brands/retailers lack deep insights into their customers to create personalized programs that reward loyal behaviour, engagement & repeat purchases.
This is where the Eatonomy comes into play. Found online at https://crowdsale.eatonomy.ca/, Eatonomy is a blockchain project with a vision to revolutionize the loyalty rewards market by removing the inefficiencies through decentralization and enabling intelligent loyalty programs, where brands/retailers can identify their most valuable customers, understand their behaviours - and reward customers according to their purchases and habits. Their blockchain platform can create loyalty programs within minutes – without technical knowledge or experience with a blockchain.
The platform is fundamentally different from other blockchain loyalties as it is built on Stellar. Stellar eliminates the technical challenges of running a consumer dAPP which exist on Ethereum-based dAPPs - wallet management, transaction fees, transaction times & liquidity of tokens.
The coalition of blockchain and loyalty reward system within Eatonomy creates a network effect which will help drive business and also reward in a distributed structure rather than standalone loyalty programs.
Eatonomy solution presents its unique 4 layers that will resolve the global loyalty programs issues using their cutting-edge technology. A list of the layers include:
Application Layer
The application layer consists of the Loyalty Management Suite + the Mobile Eatonomy App
The Loyalty Management Suite is what brands/retailers use to set up a loyalty program, assign redemption rules (i.e. 10 tokens for $30 spent), purchase TRE tokens via API's, and track/analyze the performance of their programs. Brands/retailers can elect to launch their loyalty programs either on the Mobile Eatonomy App - where customers can purchase & redeem food/goods using TRE tokens or fiat or brands/retailers can launch the program using their own infrastructure - the choice is theirs.
Integration Layer
The integration layer is a library of code simplifying the platform architecture so that queries between lower layers are automated.
The primary function of the integration layer is API access with external exchanges and data sources so that users of the Loyalty Management Suite (brands/retailers) and the Mobile Eatonomy App (customers) can purchase/redeem/transfer TRE tokens seamlessly without any additional effort - thus eliminating barriers to using the Eatonomy platform.
Exchange Layer
The exchange layer provides immediate access to purchase/transfer TRE tokens.
With built-in API's the exchange layer allows brands/retailers to seamlessly purchase TRE tokens using fiat - without the friction of creating accounts, understanding price exposure and etc. The exchange layer facilitates these transactions and provides TRE purchasers with the best prices at any given volume. Similarly, customers can sell their TRE tokens on exchanges via API access as well.
Protocol Layer
The TRE token is built on the Stellar blockchain - the ideal choice for performance, speed, and resiliency.
Stellar is the ideal blockchain for Eatonomy as it provide significant benefits - especially with the technical challenges of building a consumer dAPP. For instance, competitors building blockchain loyalty programs who use Ethereum would need to pay for a minimum amount of Gas when creating each wallet for users & brands/retailers to facilitate the initial transaction - with Stellar and its SDEX, no such capital investment is required. Other benefits of Stellar include extremely low transaction costs, near instant transaction times, and liquidity of the TRE token.
As a result, Eatonomy will provide numerous benefits for its users including:
Benefits for Brands / Retailers
- Intelligent Loyalty Programs: Bring deeper analytics to loyalty programs - create personalized, custom campaigns for high-value customers
- Reduce Costs: Eatonomy's platform is the lowest-cost option to run a digital loyalty program with a full analytics suite
- Turn Customers into influencers: Reward customers on purchases - or brand enegagement like social engagement, or completing offers via airdrops
- Lesser liability, greater value: Eliminate the accounting liability for loyalty redemption while distinguishing yourself in your category by offering a truly free loyalty reward
Benefits for Customers
- Rewards for Engagement & Purchases: Earn TRE tokens for engaging with your favourite brands/retailers - by purchasing, engaging on social media & more!
- Fully Transferable: Redeem your TRE tokens with any participating brand/retailer on the Eatonomy network - or trade/gift/sell your tokens to anyone, anywhere
- Earn additional tokens by sharing insights: Earn more TRE tokens by completing surveys, linking credit cards & sharing insights so brands/retailers can provide personalized offers
- Goodbye Restrictive Rewards: TRE tokens never expire, and they hold real value (in terms of redeemable rewards, BTC, ETH, or even fiat)
In addition, the TRE token can be purchased within the launching of Eatonomy's ICO. According to the whitepaper, the token sale will start on October 19, 2018 12:00 PM (EST). The TRE token will be derived on Stellar Blockchain. The token total supply is - 5,000,000,000 TRE. The tokens will be distributed in the following manner: 55% Public Sale (including Bounty program), 15% Team (subject to vesting schedule), 5% Advisors and early employees, 25% Reserve fund.
For more information about Eatonomy, you can visit these following links:
Website: https://crowdsale.eatonomy.ca/
Whitepaper: https://crowdsale.eatonomy.ca/Eatonomy_WP.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5034986.0/
Facebook: https://www.facebook.com/EatonomyRewards/
Twitter: https://twitter.com/eatonomyrewards/
Telegram: https://www.t.me/eatonomy/
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