ALLOY Tokens & Global Rewards Network - Creating A Global Catalogue with Real World Rewards Using Blockchain Technology - ICOEthics
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ALLOY Tokens & Global Rewards Network
Creating A Global Catalogue with Real World
Rewards Using Blockchain Technology
Abstract
Globally, 48 trillion Reward Points from Brands that are worth close to $360 billion
go unredeemed each year [1]. When users sign up for memberships with different
Brands, they collect these points for every action taken, be it signing up, or making a
purchase among others. But, they usually end up in a situation where the points can
neither be consolidated nor redeemed against a preferred reward (the reward they
want) due to restrictions. These restrictions include limited avenues, limited
products inside a catalogue etc. In short, users are left with limited choice and a
cumbersome reward programme that they often end up discarding.
In fact, unredeemed points in the USA
alone amount to USD 16bn [2] while that
of UK is 6bn pounds, in total. [3] This
ALLOY Tokens & Rewards
counts as a double loss in the loyalty- Network together aim to be
reward ecosystem as, for users, most of
these points amount to nothing. And, for a bridge between the digital
the brands awarding them, it becomes a
liability on their books. In addition, users
world of virtual currencies
receive virtual currency or in-house and real world rewards from
currency (e.g. game points) from
downloading, using apps, games and prominent brands across
websites which have zero value in the
real world. They do not create a true
the globe. Consumers can
reward for user engagement. link, combine different
Of the 3.07bn Loyalty Memberships in Reward Points and Redeem
the United States, 54% were found to be
inactive. Also, 28% members have
them in the world’s first
abandoned a program without having Global Rewards Catalog to
redeemed a single point or mile.
According to COLLOQUY (the go-to avail benefits that are of real
resource on loyalty, customer engagement
and data analytics) estimates, 57%
value to them.
respondents cited that it takes too long
to earn points or miles for rewards and,
hence, the program wasn’t very appealing. And 53% of consumers abandoned a
program just because the rewards weren’t of interest to them.
A similar problem is faced by the Publishers of Apps & Websites, who are constantly
on the lookout for new and efficient ways to increase user engagement and
retention through rewarding. Many of them have already implemented a virtual
rewards system (Points / Badges / Tokens) to foster engagement. But, beyond
social currency, these points and rewards don’t really translate into real world value
for their users.
While the problem is well-known, a unique, convenient and safe solution is yet to be
developed. This is primarily due to the current global infrastructure which imposes
2
legal, geographical, and technological limitations for expansion of a rewards
catalogue with varied partnerships that would interest all kinds of users.
ALLOY Token & Rewards Network, our Proposed Solution is a single Blockchain-
based Global Rewards Catalog connecting Brands, Publishers and Consumers on
one Platform. The Global Rewards Network will allow the Users of partnered Brands
and Publishers to link, combine and convert all their Reward points to a local Fiat
Equivalent ($/¥/€/₹ etc..) which, in turn, can be redeemed against listed Products
and services from other partnering Brands.
For Consumers, this platform will be a mobile app that will show the fiat equivalent
of their combined Reward points with an extensive Rewards catalogue to redeem
from.
ALLOY, an Ethereum-based token, would be the medium of exchange and
redemption in the system. The crypto currency-based token will enable borderless,
safe and secure transactions among partnering brands across the globe.
Furthermore, the Rewards Network will also act as an exit point for Publishers who
are looking to incentivize user engagement by issuing Reward points. This dual
partnership model involving Brands and Publishers will drive the new Consumer
base to the ecosystem resulting in better transactions.
The core components of the proposed solution will be Codemojo's time- and scale-
tested Customer Engagement kit and Rewards Network, currently engaging 25mn
users across 2,000+ Apps, Websites, and Wi-Fi hotspots. Codemojo will upgrade its
existing Rewards Network using Blockchain & introduce ALLOY Token to make the
Redemption experience truly Instant, Secure, and Global.
3
Table of Contents
Value Proposition (Something for everyone) 6
Codemojo: Building A Global Rewards Catalog With Blockchain 6
Codemojo Timeline Preview 7
Introduction 8
Current Stakeholder Challenges 9
Challenge For Consumers (Right to a Reward of Choice) 9
Challenge for Brands (User Acquisition & Points Redemption) 10
Challenges For Publisher (Rewarding User Engagement) 11
The Opportunity 11
The Solution 12
A Global Rewards Network 12
ALLOY Token 13
REPAC (Real-time Points Adoption & Conversion) 13
How the Rewards Network will work for Consumers 13
How the Rewards Network will work for Brands 14
How the Rewards Network will work for Publishers 14
Codemojo Existing Product & Architecture Overview 15
How the Current Rewards System Works 17
Proposed Solution 19
Blockchain & ALLOY 19
Global Rewards Network 21
Sample User Flow for Redemption using REPAC 21
Business Model 23
Use Cases 23
ALLOY Token Sale 24
Summary 24
Overview of Token Structure 26
ALLOY Token Sale Bonus Schedule 27
Benefits: 28
Consumer Benefits: Limited Period Cashback Plan for 28
Token Holder Benefits 28
Rewards Network - Premium Access 28
Roadmap 29
Team 31
Funding Utilization Breakdown 32
4
Pre ICO 32
Main ICO 32
Conclusion 33
References 34
Appendix 34
5
Value Proposition (Something for everyone)
The proposed Rewards Network and ALLOY Tokens together will form a Global
Rewards Ecosystem adding value to all the Stakeholders (Consumers, Brands, and
Publishers) involved in a Engagement cycle.
The Rewards Network offers:
Consumers: A single platform (mobile & web) that will show the fiat equivalent of
their combined Reward points from different sources which can be redeemed from
an extensive Global Rewards Catalogue.
Brands: A plug and play opportunity to exponentially expand their
loyalty/redemption partnership network. This will reduce their on-book liability
through user redemption of awarded Points.
Brands looking to acquire new customers can also partner as Redemption Partners,
powering the Rewards Catalog with their Products and Services.
Publishers (Apps/Websites): A convenient and tangible way to reward users for
their engagement without the hassle of building and managing a Rewarding system
& an Exit catalogue.
Codemojo: Building A Global Rewards Catalog With
Blockchain
Codemojo is a Customer Engagement company in operation since 2015 with global
customers including marquee clients like SkyScanner, OYO, BigBasket India. It is
supported by Paypal Incubator, Reliance (Fortune 500 Company) GenNext Hub
Accelerator & Microsoft Accelerator. Currently, Codemojo runs the World's first
Machine Learning powered Rewards Network that unlocks user engagement,
acquisition and retention, through constant and instant rewarding. As of now, the
platform connects 100+ Brands and 2,000+ publishers (Apps & Websites) on a
single platform engaging & rewarding Millions of users across the globe.
Codemojo also offers separate customer engagement components such as
Referral, Loyalty, Gamification & Transaction Wallet that can be easily integrated
with Businesses of all sizes, across the globe.
6
Codemojo Timeline Preview
Date Description
Started offering Loyalty & CRM for offline Brands & Businesses
Feb 2015
under the name D-Rewards
Nov 2015 Incubated at PayPal (Fortune 500 Company) – India (Inc42)
March Online Customer Engagement & Loyalty Solution launched for Apps
2016 & websites (TOI)
Part of Reliance (Fortune 500 Company) GenNext Hub Accelerator
May 2016 powered by Microsoft Accelerator. (Yourstory)
October Raised initial seed round from CIO Angel Network, Lead by Marquee
2016 Investor Sanjay Mehta (Crunchbase)
Launch of Rewards Network (World’s first Machine Learning.-
November
Powered instant gratification system that allows any app and
2016
website to reward their user for engagement) (Indian Express)
March
Awarded Hot100 Technology Company in India (Hot100)
2017
Rewards Network Reaches 20mn users, with 4.5mn monthly active
April 2017 users across different, apps, websites etc., on a network of 150+
Brands and 1000+ Publishers. (Inc42)
Conceptualization of Blockchain & Cryptocurrency-based Rewards
July 2017
Network
August
Selected to be part of NASSCOM 10,000 startups
2017
October
Pre ICO Launch
2017
November
ICO Launch
2017
7
Introduction
As per a recent New York Times report [4], the attention span of a user on a
website/app or page is less than 8 seconds. 8
seconds is all an app publisher or brand has to
engage with the user, connect with them and Codemojo looks tosolve
keep them interested enough to increase page
bounce rate.
this three-pronged
issue
using Blockchain & its
Keeping this figure in mind, let us delve into
how the system is structured. The current user existing proven Rewards
engagement infrastructure is designed in a way
that the three major components - Brands,
Network which is
Publishers, Consumers - of the Engagement catering to 6mn users
ecosystem are operating in silos (independent
of each other), each trying to address their every month.
challenges individually.
The Brands run a Standalone or Coalition Loyalty Program to reward users for their
Loyalty. Publishers give away reward incentives or virtual currencies (in game
tokens or points) for users engagement within their ecosystem. Sadly, the
consumers who receive these Reward Points are neither able to combine the points
nor redeem them for a reward of their choice due to the limitations such as
Redemption terms and limited catalog options of Individual program operators.
Consequently, this presents a unique opportunity: On one end of the engagement
spectrum, we have Brands who are willing to reward users for Loyalty & Acquisition.
On the other end, we have publishers with a large user base trying to create a
suitable Rewarding system for themselves and Brand partners.
So far, no global solution has been developed to unite both the ends over a single
platform, enabling increasing transactions for participating Brands while driving
engagement for Publishers. For the Consumers, this means unlimited choice for
redeeming reward points in the real world in one single app in a safe and convenient
manner.
Codemojo looks to solve this three-pronged issue using Blockchain & its existing
proven Rewards Network which is catering to 6mn users every month.
8
Current Stakeholder Challenges
Challenge For Consumers (Right to a Reward of Choice)
According to Market & Market’s “The Loyalty Report 2017” [5] The average number
of membership programs enrolled by a user has grown 31% over the last four years
from 9.8 to 14.3. Out of the 14.3 enrolled users, only 6.7 memberships are kept
active. This active number hasn’t changed since 2012. One reason has been that
57% of the surveyed consumers did not know their point balance and 38% among
them were unaware of the exact value of their points. The COLLOQUY [6] report
explains that close to 57% of consumers in a Reward program feel that it takes too
long to earn a point or a mile and 53% of the consumers weren’t interested in the
type of Rewards offered. This leads to accumulation of unredeemed reward points
among users.
Below is an overview of unredeemed reward points held by users across multiple
programs in the UK.
Unused Reward points across different Loyalty Programs in UK [3]
Average Value of Points per Total
UK
Member Value
Scheme Members
(in mn)
(in £) (in £ mn)
Nectar 19 22.33 424
Boots 17.9 12.50 224
Tesco 16 17.78 284
British Airways
7.0 352 2500
Executive Club
Morrison’s Match &
6.0 3.85 23
More
Virgin Atlantic Flying
2.0 327 654
Club
Lufthansa Miles and
1.8 335 602
More
Marriott Rewards 1.2 376 451
InterContinental Hotels
Group 1.2m 322 387
9
Starwood Preferred
900,000 258 232
Guest
Total £5.7bn
Consumer Power
Consumer brings Purchasing power, Attention and Engagement by connecting with
Brands and Publishers in the system.
Challenge for Brands (User Acquisition & Points Redemption)
A report by COLLOQUY dated 2011[7] states that the total worth of loyalty points
dispensed by US Brands amount to $48bn, of which one-third go unredeemed [8]. A
follow-on report in 2017 shows that there has been a 67% increase in program
membership levels since 2012, but the overall consumer satisfaction level has
remained flat. Despite opportunity & growth, the Loyalty & Reward industry has no
one true global player. The industry consists of individual Standalone & Coalition
programs that have been deployed in specific geographies and topographies.
While new Standalone Reward programs struggle to enrol consumers and attain a
critical mass success rate, Coalition programs (Loyalty & Redemption Programs
formed by a group of large brands from each sector) have slowly started to gain
momentum in large markets [9] showing model acceptance from consumers. A few
Coalitions programs such as Air Miles in Canada, Nectar in UK, Max-Get more in
India, Ok-Cashbag in Korea have shown household penetration of upto 80% in their
respective home markets [9].
Despite being widely preferred by consumers, brands do not want to leverage the
advantage of being part of a coalition program. They perceive that, by doing so, they
will be sharing their consumer’s purchasing power with other brands, diluting their
own brand share. This has resulted in only a few major brands, including the ones
mentioned above, coming together to form a coalition program in a restricted
manner, while the vast majority have not participated in it.
Brand Power
Brands are able to provide real world rewards in a budget that will excite User and
create engagement with Publisher.
10Challenges For Publisher (Rewarding User Engagement)
According to Attention Economics, human attention is considered to be the
scarcest resource [10] and this resource is sought by the millions of apps and
websites that exist. Most of them have even started giving out rewards in return for
engagement. This model of ‘Rewarding for Engagement’ is experienced by every
single individual owning a smartphone in the form of In-app Coins, Tokens from the
apps and games we use on a day-to-day basis.
In the event of declining viewership, Publisher websites have even started offering
coupons, Brand vouchers, points, etc., to users on achieving pre-set milestones like
sharing content, subscribing to Newsletters, active participation to increase user-
generated content etc.
This trend is witnessed even in blockchain companies such as STEEM, who reward
their users when they engage with the listed content by sharing it or upvoting it.[11]
While rewarding users with cryptocurrencies is relatively easy; setting up a similar
system by Publisher apps and websites involves development, implementation,
marketing efforts & cost, in addition to sourcing and partnering with Brands to
power the Rewards Catalog that would entice their Users.
Publisher Power
Publishers bring millions of new Users as inventory and connect Brands with them.
The Opportunity
The total unredeemed points sleeping in consumer accounts stand at $360B [1]
Considering only USA and UK, we see an opportunity of $24bn worth of points that
goes unredeemed. These go unredeemed due to no visibility of points, not knowing
the value of such points, not able to find suitable rewards during redemption, and no
process to combine points across program operators to receive meaningful
rewards. The USA is first, with $16bn, with the[2] UK following at $7.7bn (£5.7bn)[3]
These stagnant unredeemed points that are not driving sales pose huge liabilities
for these companies. A universal solution that enables frictionless, secure, traceable
way for mobilizing these points can have a huge positive impact for both Brand and
Consumers.
11The Solution
A Global Rewards Network
A Global Rewards Network will bring all the three stakeholders on a single platform,
leveraging their individual advantages to create a continuous, global chain. The
system will be driven by ‘Smart contracts’ running on Blockchain technology &
would allow Consumers to link points from different Reward Programs into a single
platform for redemption. This platform will combine & convert individual Program
Reward points to the Local fiat equivalent, based on the exchange value set by the
participating Brands and Publishers. The consumer will now only see a single fiat
value and the various available redemption options such as Merchandise,
Subscriptions, Upgrades etc.
The idea is to make the whole redemption process simpler & globally interoperable.
12ALLOY Token
ALLOY Tokens are the Reserve/Anchor currency for the entire ecosystem which will
be the medium of exchange in conducting any transaction on the Global Rewards
Network. Similar to how USD is the Global Reserve Currency or Anchor Currency
[13] facilitating International Trade by a common exchange factor, using ALLOY
TOKEN, Partnering Brands & Publishers can set the exchange value for their reward
points which will govern redemption in the ecosystem.
REPAC (Real-time Points Adoption & Conversion)
REPAC is the underlying technology that will enable transactions between different
currencies. REPAC helps preserve the value for all three stakeholders i.e. Brands,
Publishers, and Consumers, by converting the in-house points of different values to
a common ALLOY baseline (based on the market value), in real-time, based on
Smart contracts facilitating transactions.
Brands & Publishers will be required to pump in the Fiat equivalent of the ALLOY
generated, while their Users will use their respective Reward points for
Transactions.
REPAC Illustration:
Assumption: 1 ALLOY = $1 (Post ICO)
If a brand has a value of 1,000 points = $1 and issuing 2,000 points to its user,
REPAC would inject 2 ALLOYs during redemption
i.e. 2,000 Points = $2; $2 = 2 ALLOYs
If a brand has a value of 5,000 points = $1 and issuing 10,000 points to its user,
REPAC would inject same 2 ALLOYs
i.e. 10,000 Points = $2; $2 = 2 ALLOYs
This ensures that the ecosystem is self-balanced, regardless of the volume of points
processed by different brands.
Note: Brands and Publishers setting the exchange value are required to pump in the local
fiat equivalent facilitating transactions for their users during redemption.
How the Rewards Network will work for Consumers
For Consumers, the Global Rewards Network will be a secure, one-stop redemption
gateway through an app/web interface. They can use the simple app/web interface
to collate all the reward points received across participating brands and publishers
and store them as Local Fiat Equivalent, enabling them to pick a reward of their
choice which will have real world value. The Rewards will be discounted products,
subscriptions, upgrades etc., from other Partnering Brands.
13Brands and Publishers can also integrate the Codemojo SDK & APIs to allow their
users direct access to the Rewards Network within their respective ecosystem.
How the Rewards Network will work for Brands
Brands around the globe can partner with the Rewards Network by either listing
their Products or by allowing their users to redeem Reward points. Brands can even
control how and where their Reward
points can be redeemed.
For Brands who don’t have their own
rewards program, they will have the
option to use the readily available
Codemojo engagement kit (Referral,
Loyalty & Gamification engines) to
generate in-house points which, in turn,
can be redeemed in the Network.
This gives a high level of freedom and
flexibility for the program members
during redemption, without
compromising their inherent brand
identity and existing program. This will
also help Brands reduce liabilities that
arise out of giving Reward points to less
frequent or one-time buyers.
How the Rewards Network will
work for Publishers
14Publishers running Apps and
Websites on the lookout to
incentivize new and existing
users can integrate Codemojo’s
Plug & Play Gamification engine to
reward users with points. These
points can be redeemed in the
Rewards Network, based on the
exchange rate configured by the
respective Publishers.
This option allows Publishers to
drive engagement within the
platform with tangible benefits for
their users, skipping the major
cost of setting up the required
infrastructure for Rewarding
Engagement.
Currently, Codemojo’s
Gamification & Rewards system is
used by 2,000s of Publishers engaging over 6mn users every month.
Codemojo Existing Product & Architecture Overview
Codemojo's products have been in operation since 2015 and are powering customer
engagement initiatives for 100s of businesses across the globe. Our product
offerings include Loyalty, Referral, Gamification, Rewarding engines along with a
Transaction Wallet, all of which have been built keeping granularity, speed and
scalability in mind. As a Fully Managed Plug-n-Play SaaS (Software-as-a-Service)
system, all our products are headless & are built for REST API interactions from the
ground up, protected by a OAuth 2.0 authentication. We also have SDKs for popular
languages that aid in even faster integration.
The system allows businesses of all sizes and from any part of the globe with an
existing/new app/website to integrate engagement components seamlessly. The
user-facing dashboard allows easy configuration of all the services. Codemojo
products are built on a micro-service architecture, where each of the services work
independently and can be scaled up/down to achieve high scalability & resilience.
Codemojo currently serves millions of requests each day through its various Brand
& Publisher partners.
15Codemojo Live Products - Engagement Components
Product Description Links
Gamifica Gamification Mojo helps Brands & Read more:
tion Mojo Publishers to define various user https://codemojo.io/products/gamificat
behavioural milestones that are derived ion-mojo
from Game Mechanics & elements like
Points, Badges, Levels etc., resulting in Sign up:
better app/website engagement. https://dashboard.codemojo.io/auth/re
gister
Loyalty Loyalty Mojo helps in optimizing Read more:
Mojo customer retention by letting Brands https://codemojo.io/products/loyalty-
integrate & configure complex loyalty mojo
programs to their mobile apps and
websites seamlessly. Sign up:
https://dashboard.codemojo.io/auth/re
gister
Referral Referral Mojo allows Brands to run a Read more:
Mojo highly efficient and seamless referral https://codemojo.io/products/referral-
program to augment their marketing mojo
efforts across multiple touch points.
Sign up:
https://dashboard.codemojo.io/auth/re
gister
Wallet Wallet Mojo is a transaction level ledger Read more:
Mojo that lets businesses track and manage https://codemojo.io/products/wallet-
transactions, points and activities. This mojo
is the underlying technology powering
all of the products, by which it acts as a Sign up:
transaction ledger for all the points https://dashboard.codemojo.io/auth/re
credited/debited. For example, a gister
business using Loyalty will indirectly be
using Wallet that will store every single
transaction detail.
Rewards Refer to “Existing Rewards Network” Read more:
Mojo below for more details https://codemojo.io/products/rewards-
mojo
Brand:
https://brands.codemojo.io/register
Publisher:
https://publishers.codemojo.io/register
16Existing Rewards Network
The existing Rewards Network is built on the same Codemojo Framework, wherein
the Publisher (Apps/Website owners) uses the Rewards created by Brands to
engage & instantly reward their users with Real-world Rewards. This Rewards
Network serves millions of users every month.
Machine Learning to Customize Rewards: The Rewards Network uses
Machine learning to personalize instant gratification at an individual user
level through programmatic rewarding. Here, real world rewards (that are
redeemable at the storefronts) are triggered on completing a milestone within
touchpoints or inventories like Apps, Websites, WiFi hotspots etc.
Read more: https://codemojo.io/products/rewards-mojo
Brand: https://brands.codemojo.io/register
Publisher: https://publishers.codemojo.io/register
How the Current Rewards System Works
Codemojo’s engagement components are available as REST APIs &, hence, are
platform-agnostic. Publishers can sign-up, integrate & configure with any of their
app/websites either directly or using our SDKs. Any required changes to the
engagement program can directly be updated from the dashboard and these
changes will reflect in real-time. This allows marketers to run robust & agile
engagement programs that are custom defined for their seasonal & long-term
business needs.
We also have extensive documentation for the developer community to help
streamline the integration process.
Read more: https://docs.codemojo.io/docs
Average MoM Growth Rate @ 70%
17Current System High-level Architecture
For the sake of simplification, each of the component/cluster will be depicted as a
single block.
18Proposed Solution
Blockchain & ALLOY
Our Proposed Solution is to make rewarding frictionless across the borders of
business verticals, legalities, currencies & geographies using blockchain and
cryptocurrency.
Our implementation structure/model will support three different scenarios for
maximum coverage.
(I) Businesses with existing engagement programs & in-house points looking for
partnerships for redemption.
(ii) Businesses looking to implement & run a new engagement program with a
production ready Rewards Catalog.
(iii) App & Website (Publishers) looking to reward their users in-exchange for in-
house points.
ALLOY Tokens will be the Reserve Currency for Brands & Publishers to access the
Global Rewards Catalog running on Blockchain. Smart contracts will manage on-
boarding, listing & execution of transactions over a trustless environment enabling
frictionless redemption.
We will be upgrading the underlying technology of the existing Codemojo
engagement components from Wallet-based ledger & in-house points to a
Blockchain-based distirbuted ledger & ALLOY Tokens. The existing Rewards
Network, which is based on instant rewards, will be upgraded to work on REPAC &
Smart Contracts to accept, consolidate, and exchange different rewards points from
different Brands & Publishers.
The new architecture replaces the Wallet component with a decentralised
blockchain ledger. The Brand & Publisher dashboards will generate Smart Contracts
that will govern the entire process for the respective parties. So, any
brand/publisher related configuration that was being stored in the Codemojo will
now be Converted and stored as Smart Contracts in the blockchain.
19Proposed System High-level Architecture
For the sake of simplification, each of the component/cluster will be depicted as a
single block.
20Global Rewards Network
The Global Rewards Network will be a Rewards catalog that will consist of
products/services subscriptions listed by partnering Brands who are on the lookout
for driving transactions or acquiring new users. This will be accessible for users
through a consumer facing Mobile App & Website.
The User downloads the ALLOY app à Signs in à Links different membership
accounts à Sees the total combined worth of Rewards points in Local Fiat
Equivalent à Accesses the Rewards section à Checks out with a product of choice.
Users will have the option to Consolidate their points if the participating Brand or
Publishers come to an agreement.
Micro Redemptions
Mobile Recharges
Bus ticket bookings
Store Value Gift Cards
Pharmacy
Café
Restaurants etc..
Macro Redemptions
Merchandise
Air Tickets
Hotel Bookings/Upgrades
Events & Attractions
Grocery
Rentals etc...
Sample User Flow for Redemption using REPAC
A User residing in the India who has accumulated Reward points across different
Brands and Publishers, when travelling to New York, USA for a vacation will be able
to redeem these points with a Local Brand in New York for products or services
such as Hotel Upgrades or even a cup of Coffee using our REPAC technology,
thereby, creating a borderless Rewarding and redemption experience.
Step 1: User downloads the ALLOY App & links all the rewards/loyalty accounts
from participating Brands and Publishers.
Step 2: User opts for a redemption of $10 worth of points for a Coffee (issued as
Smart Contract). The points are not converted to ALLOY immediately.
Assumption is market value of 1 ALLOY will be $1 at the time of Redemption.
21Step 3: Uses the Rewards Network & Redeems merchandise or services of their
choice.
Step 4: During redemption, the REPAC engine takes over & issues the equivalent
worth of ALLOY as per the Blockchain smart contract.
Step 5: REPAC exchanges the ALLOY to Local fiat and sends it to Merchant B. User
receives the Merchandise they purchased.
22One of the biggest advantages & differentiators of the Rewards network is that, any
business, even with proprietary points can join the ecosystem with zero-friction i.e.
without having to migrate/modify their existing program. Brands & Publishers will
be able to give their Users broader & more flexible options for redemption. And
Users, in turn, will utilise their Purchasing Power and stay engaged within the
Rewards ecosystem. The promised value is delivered to the User with REPAC
technology.
Business Model
During Redemption of Reward Points: When a user from a partnering Brand or
Publisher redeems their points on the Global Rewards Network, the respective
Brand or Publisher will be charges for the Value of Exchange, along with a
Transaction fee for enabling the redemption. The Value of Exchange will be passed
on to the Brand who had displayed the products in the Rewards Catalog for
Redemption and a small percentage as commission will be charged from them for
the driving the respective sale.
Savings in Bulk Buy section of Redemption catalogue
For Micro Redemptions, there will also be a list of products in the Rewards Catalog
that are sourced at a bulk buy savings model with a minimum saving of 15% to 20%
from the cost of redemption.
Illustration on a single transaction
Ex: Market value of Big Mac at McDonalds - $3.99/pc
Bulk buy price at 20% discount for 100,000 units – $3.192/unit
Redemption Discounted Price for Consumers - $3.591/unit
Codemojo Earning = $0.399/unit
For 100,000 units Sold = $40000
Use Cases
1. Brands with Existing Loyalty Points
Brands with existing loyalty programs can partner with Codemojo and allow
their members an additional exit option to redeem Rewards of their choice
from the Global Rewards Catalog.
Example
Points from various Brands can be exchanged for Etihad Miles
http://www.etihadguest.com/en/earn-miles/financial/
232. Brands & Publishers who would want to implement a Loyalty Ecosystem
Brands can integrate Codemojo Engagement components and partner in the
Rewards Network to facilitate redemption for their Users with the Global
Catalog.
Coalition Example
Coalition Loyalty Programs such as AirMiles - Canada, Nectar – UK, Plenti –
USA (Refer Appendix-1)
Standalone Example
TIMES OF INDIA media network, one of the Top 3 media houses in India runs
a program to reward their readers for performing different actions on their
websites. They have even gone a step ahead to release a Co-Branded Debit
card.
http://www.timespoints.com/
3. Brands who are on the lookout for Customer Acquisition
Brands can also sign up as a redemption partner in the Rewards Network,
listing their products, subscriptions or Store points. This mode of
engagement gives the Brand access to a large consumer inventory not only
from other participating brands but also from the Publisher (Apps/Websites)
Networks.
Example
Jet Airways (JP Miles) offered for users leaving a review on TripAdvisor
https://www.tripadvisor.in/JPMilesCampaign
The above business model is planned in such a way that the demand for ALLOY
Token increases proportionally with the rise in redemption in the Rewards
Catalogue. Rising adoption and the limited availability of ALLOYS will increase the
unit value of ALLOY tokens benefitting the Token Holder.
ALLOY Token Sale
Summary
Project Description Bringing Consumers, Brands and
Publishers on a single largest Global
Rewards Network, mobilizing $360B worth
of unredeemed reward points.
Rewards Network A Global Rewards Catalog that can allow
Consumers to Link, Combine and Redeem
their different Reward points.
24ALLOY ALLOY is the Anchor Currency which is
the base exchange denomination for
different Rewards Points to their fiat
Equivalent real world Rewards, facilitating
smooth, secure and auditable cross
border redemptions
Token Symbol ALLOY
Token Type ERC20 Compliant - Ethereum Blockchain
Pre-ICO Start Date 15th October, 2017
9PM Singapore Time (UTC+8)/
3PM Munich Time/
9AM New York Time/
2PM London Time
Pre-ICO End Date 5th November, 2017
9.00PM Singapore Time (UTC+8)
3.00PM Munich Time/
9.00AM New York Time/
2.00PM London
(3 weeks from the token sale
commencement date)
ICO Start Date 25st November, 2017
9PM Singapore Time (UTC+8)/
3PM Munich Time/
9AM New York Time/
2PM London Time
ICO End date 25th December, 2017,
9PM Singapore Time (UTC+8)/
3PM Munich Time/
9AM New York Time/
2PM London Time
(4 weeks from the token sale
commencement date)
1 ETH 575 ALLOY
Total ALLOY Tokens Generated 100,000,000
Total Percentage of all ALLOY tokens 80%
for Public comprising (a), (b) and (c)
below
a. Percentage of all ALLOY 10%
25tokens for Pre ICO sale
b. Percentage of all ALLOY 40%
tokens for ICO Sale
c. Percentage of ALLOY tokens 30%
for user adoption pool
Percentage of all the tokens with the 20%
Founding team
Target number of Tokens Sold during 50,000,000 ALLOY tokens
ICO & Pre-ICO
Raising 86,956 ETH
Escrow of Funds For Main ICO
Limited Period Cashback Plan 0.5% ALLOY Token Cash back for a
Limited period of Two Years
Token Holder Privileges Based on the Tokens Held during
Transaction on the Rewards Catalog
(detailed below)
Accepted currencies during the Pre- ETH, BTC
ICO & ICO Stage
Distribution of ALLOY tokens Planned Distribution will start from Last
Week of Dec 2017
Total ALLOY Supply One-time Generation
Overview of Token Structure
A total of 100,000,000 ALLOY tokens will be created of which, 50% of tokens will be
offered during the Pre-ICO & ICO Sale period, 30% will be kept in reserve for
Transaction Facilitation within the Rewards Network and for Incentives. The
remaining 20% of tokens will be allocated to the Founders and Core Team Members,
which will have a vesting period of 3 years with a 6 months cliff. This means 16.66%
tokens will mature for the Founders and Core Team Members after each 6 month
period.
26# of Alloys
Description % Allocated
(in Mn)
I Percentage of tokens for the ALLOY Presale 10% 10
II Percentage of tokens for the ALLOY ICO Sale 40% 40
III Percentage of tokens for Reserved for 30% 30
Transaction facilitation in the Rewards
Network & Incentives
III Percentage of tokens for founders, early 20% 20
backers and the development team with 3
years Vesting
ALLOY Token Sale Bonus Schedule
One (1) ETH will give you 575 ALLOY tokens. As an early-bird bonus, extra tokens
will be offered as a bonus for users who commit earlier. See the time table below for
the exact bonus schedule.
Time Period Token Bonus
Pre ICO +20%
ICO – Day 1 to Day 3 +10%
ICO Day4 to Day 7 +5%
ICO Day8 to Day 14 +2.5%
ICO – Final 14days No Bonus
27Benefits:
Consumer Benefits: Limited Period Cashback Plan for
Consumers will earn 0.5% of the redemption value as Cashback in the form of
ALLOYs during every transaction. This incentive, which will be transferred to the
user, will give them the opportunity to become token holders and further benefit
from a potential value upside of the tokens. This Cash back plan will be effective for
a period of a minimum 2 years from the day the Rewards Catalogue is rolled out.
Based on the business requirement, it might be further extended for a period of
another 2 years.
Token Holder Benefits
Token holders & early buyers maintaining a minimum ALLOY balance over a period
in their wallet will receive additional perks while accessing the Global Rewards
Network during Redemption.
Rewards Network - Premium Access
Minimum
Tier
ALLOY BALANCE Hold Benefits
Level
Period
- Additional 0.5% Cash back during
Min 575 ALLOY
6 months Base Redemption
- Additional 1% Cash back during Redemption
Min 2,500 ALLOY 6 months Silver - Additional Discounts on Bulk Buy Catalog
- Additional 1.5% Cash back during
Redemption
- Additional Discounts on Bulk Buy Catalog
- Early Access to the Rewards Network
Min 5,000 ALLOY 6 months Gold - “Standard Plus Priority Pass Membership”
with 10 Free Airport Lounge Access across
1000 plus airports across the world
- Additional 2% Cash back during Redemption
- Additional Discounts on Bulk Buy Catalog
- Early Access to the Rewards Network
- Early Access to Phase II of Rewards
Min 7,500 ALLOY 6 months Platinum Network for using ALLOY for Redemption
- “Prestige Plus Priority Pass Membership”
with unlimited Airport Lounge Access
- Customized offer from Partner Brands
- Priority Support
28Illustration for Cashback:
When a Platinum level Token holder uses the Rewards Network to redeem their
points, they will get additional Cash back over and above the Cash back they receive
from the Limited Period Cash back Plan.
Assuming 1 ALLOY = $1
Ex: While Redeeming $100 worth of Points, the total Cashbacks will be
100 ALLOY X 0.5% = 0.5 ALLOY as per limited Cash back Plan
100 ALLOY X 2% = 2 ALLOY as per the Tier Level
Total Cashback ALLOY = 2.5 ALLOY
Roadmap
Period Activity
Q4 2017 Conducting the Pre-ICO & ICO Sale of ALLOY Tokens
Token Distribution to all the Stakeholders
Q1 2018 Recruitment for Key Talents
Strategic, Legal & Financial planning for APAC market
Building the core technology on Blockchain
Alpha Consumer App Launch for Android
Q2 2018 Updating the existing components with Blockchain technology
Establish strategic Partnerships with Major Brands
Launch of Micro Redemption Catalogue in APAC (Singapore,
Indonesia, Thailand, India)
Setting up an Outbound Publisher Acquisition channel for the
Rewards Network
Prepare for Launch in Canada, Spain (Brands, Publishers,
Partnerships)
Strategic, Legal & Financial planning for Canada & Spain
Beta Multi-language Consumer App Launch for Android
Beta Multi-language Consumer Web Launch
Q3 2018 Extension of Micro Redemption Catalogue with Brand Partners in
Canada & Spain
Partnership with Gaming companies to the Reward Network
Partnership with Major Banks, Hotels, Airlines in operating
Geographies
Prepare for Launch in UK & Australia (Brands, Publishers,
Partnerships)
Strategic, Legal & Financial planning for UK & Australia market
29Beta Multi-Language Consumer App Launch for iOS
Initiations of Telco’s & utilities partnership in the respective
Geography of operations
Acceptance of ALLOY directly for Redemptions in the Micro Catalog
Q4 2018 Launch of Macro Redemption Catalogue
Rewards Network launch with Brand Partners in UK & Australia
Prepare Launch of Canada, Spain, EMEA Market (Brands, Publishers,
Partnerships)
Strategic, Legal & Financial planning for USA & EMA market
Partnership with Major Banks, Hotels, Airlines in operating
Geographies
Final Rewards Network Multilingual Consumer APP & Web rollout
Q1 2019 Expansion to Canada, Spain, EMEA
Accepting another Cryptocurrency into the Rewards Network
Q2 2019 Further expansion to USA, Japan, Brazil, Korea and other countries
Onwards & development
30Team
Vijay Krishna Ramanathan - Co-founder & CEO (LinkedIn)
Over 10 years of experience in Consulting and Strategic Alliances. Previously with
Magzter.com, NIIT, Mjunciton (TATA -SAIL JV), Renault Nissan.
Shoaib Mohammed - Co-Founder & CTO (LinkedIn)
Over 9 years’ experience in Middleware, SOLIDITY, Blockchain. Previously with
Fiorano. Author of Jarvis App - My Personal Assistant (With over 2 million
downloads).
Munmun Sinha –VP – Alliances (LinkedIn)
Over 9 years’ experience in Consulting & Selling to MNC Clients. Previously with
CoCubes (Aon-Hewitt Company), Matrix Cellular.
Ravi Chandran – Product Manager (LinkedIn)
Product manager, Pixel guru, UI/UX expert with more than 8 years of Experience
Abhishek Tiwari – Backend & Solidity Developer (LinkedIn)
Backend engineer, Technology enthusiast & an Ethical hacker!
Deepak Eshwar – Key Accounts (LinkedIn)
A strategy-freak with certification in human psychology, who works in tandem with a
chalked out plan & a Client-friendly attitude.
Varalakshmi Dwarkanath – Marketing (LinkedIn)
A prudent writer with an experience in Blogging, Social media marketing, Creative
and Copywriting for about two and a half years.
Our Advisors, Mentors & Investors
Laks Krishnamoorthy (Linkedin) – Director of Engineering, Merchant Engagement –
PayPal
A proven leader of high performing global technical teams focused on quality
engineering of products and solutions for the past 25 years.
Apul Nahata (LinkedIn) - Co-Founder @Kalpnik - a disruptive VR/AR company,
Mentor @BrigadeREAP
Over 20 years of experience spanning consumer internet, mobile & telephony in the US & India
having worked with both Fortune 500 companies and startups, with 7 years as an
Entrepreneur in the Voice cloud computing space.
31Our Early Investors
CIO Angel Network: (Crunchbase)
CIO Angel Network (CAN) is a group of prominent CIOs &
Information Technology professionals in India investing in
promising startups that have potentially disruptive technology.
Lead Investor
Sanjay Mehta(Linkedin), Leading Angel Investor with a portfolio of 67+ investments
Incubated at PayPal
In Partnership with The Indus Entrepreneurs (TiE), the PayPal
incubator provides a conducive environment for early-stage
startups to grow and evolve with technology counsel and
mentorship and infrastructure support.
Accelerated at Reliance Gennext Hub – Partner Microsoft Accelerator
Backed by Reliance Industries Limited (Fortune500), the
GenNext Hub programme is an initiative to catalyse the
startup community in India.
A NASSCOM 10,000 Startup
Joint initiative between NASSCOM 10,000 Startups and the
respective State governments. It is a connected network of hubs
across the country to help startups jumpstart their idea with the
help of infrastructure, knowledge-sharing, and connections.
Funding Utilization Breakdown
Pre ICO
Money raised during the Pre ICO will be used in the following Areas
Development – 25%
Marketing main ICO – 25%
Security & Audits - 22%
Legal – 15%
Alliance & Partnership – 5%
Others – 5%
Moving Head Quarters to Singapore – 3% (Within 10 days of Pre ICO completion)
Main ICO
Money raised during the main ICO will be used as per the following
32Development: 38% of the budget will be directed towards expanding the current
development team and for building the necessary infrastructure to handle the rapid
scale & volume of the Rewards Catalog.
Marketing: 25% of budget for marketing, which will focus on creating awareness
and adoption of the Global Rewards Network and the ALLOY solution among
Brands, Users, and Publishers.
OPEX: 16% of budget will cover ALLOY’s legal, security, accounting and other
associated administration costs.
Sales & Partnerships: 14% of the budget from these funds will be directed towards
building a Sales & Alliances team to target specific geographies and to build
strategic alliances & partnerships with key brands in those regions.
Contingency: 7% of the budget is set aside for unforeseen costs.
Important Note: There will be no new ALLOY tokens created after Initial Token Sale.
Conclusion
We believe that Blockchain technologies and Cryptocurrency will make way for a
secure and borderless redemption experience for consumers. In order to make such
solutions possible for all participating Brands, Publishers, and Consumers with the
maximum convenience, we aim at connecting Blockchain in the backend and offer
our stakeholders an easy-to-use interface for their respective needs, be it
implementation, configuration, conducting a transaction or for audit purposes.
With the ALLOY Token Sale to be conducted by distributor, a wide range of
individuals will have the opportunity to participate in our long-term growth and
success story to fundamentally disrupt the Rewards & Engagement space.
33Our ultimate vision is to be the Global Rewards Network that can give a friction less
redemption experience for consumers to redeem their reward points for a
merchandise or subscription of their choice across the globe.
References
[1] http://www.loylogic.com/component/joomdoc/White Papers/Loylogic - Why
Loyalty Payment Can Help Digital Wallets To Break Through.pdf/download
[2] http://www.businessinsider.com/you-can-now-cash-your-loyalty-points-in-for-
stock-2011-11?IR=T
[3] http://www.telegraph.co.uk/finance/personalfinance/money-saving-
tips/11912823/Shoppers-waste-6bn-of-loyalty-reward-points.html
[4] https://www.nytimes.com/2016/01/22/opinion/the-eight-second-attention-
span.html?mcubz=3
[5] http://bit.ly/2gDhcgD (The Loyalty Report 2017)
[6]https://www.colloquy.com/resources/pdf/reports/COLLOQUY_2017_Loyalty%20
Census.pdf
[7] http://www.swiftexchange.com/Content/Documents/2011-COLLOQUY-Liability-
Talk-White-Paper.pdf
[8] http://www.businesswire.com/news/home/20110419006270/en/48-Billion-
Worth-Consumer-Loyalty-Reward-Points
[9] http://www.sli21.com/?whitepaper=coalition-loyalty-a-model-with-sustainable-
advantages-for-retailers
[10] https://en.wikipedia.org/wiki/Attention_economy
[11] https://steem.io/getinvolved/posting-rewards/
[12] http://www.swiftexchange.com/Content/Documents/2011-COLLOQUY-Liability-
Talk-White-Paper.pdf
[13] https://en.wikipedia.org/wiki/Reserve_currency
Appendix
Sample List of Brands that are already part of a Coalition Reward and Redemption
Program (Source: Airmiles, AVIOS, Payback, Necter, Flybuys, DOTZ)
34Travel
Club
DOTZ AirMiles Maxmore AVIOS Payback NECTAR FlyBuys Airmiles Spain
Brazil U.K India U.K Germany U.K Australia Netherlands Spain
Partnered Partnered Partnered Partnered Partnered Partnered Partnered Partnered
Brands Brands Brands Partnered Brands Brands Brands Brands Brands Brands
A.BRAND Lifestyle LLOYDS BANK ARAL Alton Towers Adidas AAP AliExpres
Resort Theme s
ACE park
Abra Kalyan Alliance American Adrenaline Air Miles Asos
Jewellers Mandarin Express campings
ADI Oriental
ABRA mais Malabar Gold ACIS Alnatura Argos AGL Albert Heijn Ebay
Alamo
Aliexpress Pothys Activity Ambellis Belmond ahm Beekse Fnac
Amazon.ca Bergen
AMARA American GRT Jewellers American American BOC Apple Bol.com La
Express express Express Australia Redoute
Americana Apple Store Vishal Mega Annual Pass Amplifon BP Bookropia Bookchoice Media
s Canada Mart Markt
ANNA Banana ColorPlus Apply Store Apollo Brakes Budget Dolfinarium PC
PEGOVA Republic compone
Canada nts
Apple Bank of C. Krishniah AVIS ATU Caffe Nero Coles Duinrell Zalando
Montreal Chetty & Sons
APSS PAI BESTBUY Best Western Confused.com Coles credit efteling
Best Western International cards
ARAUJO ORRA Boden Bol.de Daily Mail Coles Essent
Express(she
Bosch ll)
ARNO Regal Branes&Noble Bucher.de DHL Coles Etos
Bose Insurance
BAHIA ROCIA Brittany Ferries Burger King easyJet Coles Gall&Gall
Prepaid
Budget cards
Bee Fitness Lotto CHASE Center parcs eBay Etihad HotelSpecial
Bugatti Airways s
BEL-AIR RASI citi bank Channel 21 Eden Project First choice JustDiggit
Canon liquor
best berry Cedarlane Citrus cottages4you CONLEYS English Fitbit Kinder Hulp
Laboratories Heritage
bidu Cineplex P N Gadgil CROWNE PLAZA Dehner Eurostar Flybuys Landal
Entertainment Jewellers eshops
BOBO Sahakari Debenhams DEPOT Expedia Flybuys LOI
Cult Bhandar Travel
Bololo GRT Jewellers Diners Club DM-Market Expedia.co.uk Fossil MasterCard
Dell.ca online
bonprix arambaghs Disney Land Expedia First Group Garmin Parxis
Delsey FOODMART
Booking.co DoubleTree by Prestige Smart Eurostar Fahrrad.de Hertz Goodlife Pathé
m Hilton™ Kitchen
BRASTEMP Prince Gold and First Choice Galeria Kaufhof Hip Digital Groupon RTL xl
Diamonds India
Dyson Canada Private Limited
C&A HHONORS hilton German Post ICI Dulux Jawbone Sanadome
Embassy worldwide LESERSERVICE Decorator
Suites Hotels Talwalkars Centres
C&C Classic HolidayInn Gothaer Laithwaites Kleenheat Shell
Expedia PoloKanva Mart
Cabeleza Sterling Hoseasons Herrenausstatter Magazine Kmart Snowworld
Fitbit Holidays .de Team
CENTAURO ICICI bank Hussel NCH Charity Liquor Land Treatwell
Fujifilm Enrich Salons
chef time C. Krishniah Inghams Impressions Oxfam Loccitane Video Land
Chetty Unwrapped
Gap Jewellers
Cissa Kidzania_Mumb Intercontinental Lampenwelt Photobox Medibank Vliegtickets.
Gap Canada ai nl
ClickBus iTunes LINDA Pizza Express Menulog VUE
Garmin Peperone Pharmacies Australia cinemas
Clube do Johnlweis.com Mirapodo Prudential Microsoft WAR child
Ricardo Goodyear Nac Jewellers Health Limited Australia
COLOMBO Sobeys,foodla KUONI My toys Research Now Nab Wild lands
nd, safeway Ltd
IGA) Monginis
compracert Laithwaite's Mydays Restaurant OPSM Ziggo
a Hasbro Blackberrys Choice Sports
Consul LE CLUB ACCOR Pet Bowl RHS (Royal Polar
Hilton Garden Horticultural
Inn™ The Cascade Society)
Dafiti Rainbow Lew Geffen Point Rouge.de Sainsbury's Strawberryn
Hospital for Sotheby’s et
Children and
Holiday INN Women
Dafiti Holiday INN Marriott Rewards Real Telegraph SurfSticth
SPORTS Express Meena Bazaar
DARWIN6 Holiday Inn®† Membership REWE The Hut.com Target
Hotels & rewards Limited
Resorts Victorinox
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