A 2D economy that is developing in a stable and effective manner must be based on tangible social stock. SolaiTech presents LikeCoin ecosystem as a definite example. It is a social network of a new format, in which LikeCoins play the role of internal currency.
Social network and likes
LikeCoin is a unique ecosystem. Here you will discover the real price of your “likes”. Each “like” will be transformed into coins that you will be able to send to you friends or use as currency when buying coupons for discounts from our partners: cafes, restaurants, beauty studios, etc.
The value of LikeCoins is formed by mechanics – each day you will receive a strictly limited quantity of this currency. The amount will depend on your social level. The level can be raised through “likes” received from friends and the “likes” received from reviews and user comments. Thus, the higher the level, the more LikeCoins you receive every day. But if you haven’t spent your coins, then at the end of the day they “burn up”. Thus every time you review a user’s actions, every “like” or a coupon you send to friends, gains value. This is how you form your social stock, this is how your social activity gains value.
Level and social capital
Now let us explain more about Levels and their use. A level in LikeCoin is a sign of social stock – a piggy-bank of “likes” received from others.
The level affects the amount of LikeCoins received each day. All members of the social network start in equal conditions on level 1. The level grows through LikeCoins received from others: most of all from the people in the first circle – close friends and family.
The speed of growth through the levels is limited: achieving each new level requires twice as many “likes” as the user already has. Thus the real picture is revealed, when in order to achieve a level of fame, one needs a lot more “likes” from a much bigger circle of people.
Using LikeCoins
Each member of the LikeCoin ecosystem daily receives the number of coins that reflects their social level. The user then can spend these coins on several things. First of all, he or she may send a part of their coins to their friends to top up their social level, and thus their own level. Second of all, the same “likes” the user can give to other members of the ecosystem for interesting and useful content. The third option for using LikeCoins is spending them on coupons for discounts from partners. Here the network acts as a coupon website.
Coupons and partners
SolaiTech’s partners in LikeCoin system can publish their sales announcements free of cost. Users buy coupons for the sales using the internal currency, without spending real money. It makes such a system beneficial to both sides. Meanwhile, it is worth noting that the user pays real money for the remaining part of the service or goods when visiting the partner’s establishment.
When buying goods or services, LikeCoin users show the merchant a coupon with a QR-code on their smartphone. The merchant scans it with a special app, and activates the coupon for the discount.
Partners that provide coupons in exchange for LikeCoins can distribute the coins they received among their employees. Thus they become fully-fledged participants of the 2D economy, receiving both the monetary and social capitals.
Brand ambassador
LikeCoin offers its partners another instrument for amassing social stock -- a brand ambassador programme. Brand ambassador is a user that participates in an event or a long-term campaign of the company and receives a discount for the company’s goods/services and a part of “likes”, distributed among the company’s employees, as contributions to his or her level. In exchange, the user places the company logo under its profile picture, thus acting as a brand ambassador for his or her friends.
You can find out more about LikeCoin ecosystem at likecoin.kz. You can also download our app for Android and iOS.