The rewards pool is only used for the token circulation of RainCheck business ecosystem.



Token Inflow

• Customers can use reward tokens to buy cash voucher to use in the offline store of O2O partnership merchants. The tokens will be recycled to rewards pool.
• Customers can use reward tokens to buy products through cross border ecommerce. The tokens will be recycled to the rewards pool.
• RainCheck will periodically buy back tokens to fulfill the needs of the rewards pool with profits from the business.

Token Outflow

• Customers can earn reward tokens when they download and install the app.
• Customers can earn reward tokens by buying products through cross border ecommerce.
• Customers can earn reward tokens through card-linked offer when they shopping and entertaining.
• RainCheck will periodically buy back and burn out tokens with profits from the business.

Hi Royalfestus, due to the ICO market down, we will have to hold off our public token sale and also the bounty program. Your bounty tokens will be calculated and recorded. We are still in pre-sale and are talking to private investors. We will probably resume the public token sale and bounty program early next year when the market is getting better.

Hope it helps.

Yes. There are quite a few similar Loyalty programs. We think the whole market is still big enough to allow different players to coexist and compete against each other. It also depends on how the base public blockchain evolves like ETH, Stellar. It will be full of fun.

Hello Dasengineer, thanks for your interest in our project.

Stellar network and protocol has faster transaction speed compared with ETH. It also supports cross border payment very well. That’s why we choose Stellar for RAIN token because we need to process transactions quickly when users redeem loyalty points to RAIN tokens, purchase products through mobile app by paying RAIN tokens etc. 



RAIN token is designed as a utility token. Besides the 35% tokens allocated for ICO, we also allocate 25% tokens as Rewards Pool used to work with merchants together to promote RainCheck mobile app, O2O activities, brands, Diagou activities. Through these activities, we can increase the circulation of RAIN tokens in all commercial activities of the whole ecosystem.

Once consumers receive RAIN tokens from the Rewards Pool, we will definitely allow users to transfer a certain percentage of tokens to exchange to cash out. Meanwhile, we will also ensure there are enough tokens to meet the circulation needs of commercial activities in the ecosystem. We will balance the circulation needs of both commercial activities and the crypto exchange.

When more and more people are willing to use RAIN tokens in commercial activities in the ecosystem, more and more people will need RAIN tokens. Because of the fixed supply of the RAIN tokens, we will expect the value increase of the RAIN token. The value increase of RAIN will also help to attract more people to join the ecosystem to use RAIN tokens to buy products, redeem loyalty points, redeem brand offer and so on.

Hope it helps. Thanks.

Hello royalfestus, thanks for your interest. Stellar has a built-in decentralized exchange (DEX) capability, so RAIN tokens will be listed on StellarPort and StellarX from day 1. We have investigated KYC issues with our third-party vendor and has improved the process. Hope it will be more smoother in future. We apologize for the inconvenience for our investors. We do encourage you to read our white paper to find out more details about how RainCheck and RAIN token works.

And our Ukraine team is building the iOS wallet functions now. Users will be able to Create a Stellar account, Import existing Stellar account, Send Stellar to another Stellar account, Receive Stellar by scan QR code, Check RAIN token balance and so on. Users can also convert loyalty points from different loyalty schemes to RAIN tokens. We will keep updating the progress. Stay tuned. 
Thanks.

We have a competitive analysis table on Page 34 of the white paper. Hope it helps.

Please also check our main website for more details (https://www.getraincheck.com/home/). It illustrates the problem we want to solve and the solutions.

Here is another Medium post explaining why we choose Stellar. Hope it also helps.
https://medium.com/@cameron_51651/why-building-projects-on-ethereum-are-destent-fail-3e0c82a99209
 

Hi AmoreJaz, we will develop the SDK to onboard merchants. Actually, the RAIN token is an extension of our current card-linked loyalty program we are building now. Our solution can provide cashback based on the card-linked offer of three major schemes, Visa, MasterCard, and AMEX. Generally, merchants don't truly like cashback because they want consumers to spend more. RainCheck gives an option for merchants to customized card-linked offer using cashback and loyalty points together. Whether merchants have their own loyalty program or not, they can use the SDK and Smart Contract to plug into the RainCheck universal loyalty program based on RAIN token. We are building the RAIN wallet which will be integrated into our existing RainCheck mobile app for users to exchange between loyalty points and RAIN tokens easily. Hope my explanation helps, thank you.