Hi, I posted something like this on a thread but I thought I should open a thread for discussion on the topic.
Rewarding users for spending and accepting ETN.
So when you spend ETN to buy milk or top up for example you are rewarded with a little percentage (maybe 5% or 10% or less) of your spend that can only be redeemed after 30 days. Same applies to a local seller; when you accept ETN for a good or service, you get a little percentage of the value as a reward for accepting which you can redeem only after 30days or a certain number of days.
I think this will result to massive growth and encourage more users to spend and not just hodl. It is a very good reason to change the habit of spending and accepting fiat to using ETN instead. So the more they spend and accept ETN they get more reward that can be redeemed. This can also drive the price up.
This system was used by a network provider in my country Nigeria. The Glo network and I think Etisalat did so too. They were rewarding user with a percentage of the total amount of airtime and data purchased in 30 days. The user receives it in airtime and data and the bonus would expire in 2 weeks if m correct. So users would have to use up the bonus before it expires. I barely finished it and you can’t roll over the bonus once it expires.
ETN can implement this. The team can put an expiry date for a user to use the bonus, maybe 2 weeks. You don’t get extra bonus for spending the bonus received, you only get rewarded for spending ETN purchased via exchange, or via MM, or via gig.guru or for accepting ETN as a vendor.
Who won’t get super super excited to see a notification saying “You’ve received xxETN as bonus for accepting (or spending) ETN in August” Your bonus is valid for 7days or 14 days.
@Rach could this be considered in any way as a form of marketing to encourage actual use and demand of the ETN.