Plentix: Disrupting the referral economy Through Blockchain Technology

The explosive growth of social media coupled with the dominance of mobile phones has given rise to a new set of consumers who embrace connectivity. Online interaction, such as referrals, has never been so easy and immediate. Plentix is tokenized platform that gives users the ablity to refer other users to a business entity and enables business entities to take advantage of existing APIs for industry specific referrals and allows for safe, secure, trustless value exchange to happen. In contrast to other referral platforms, Plentix releases the potential of a new worldwide ecosystem to monetize referrals for every stakeholder, from the producer down to the consumer.

Throughout history, the marketing and communications industry expanded given the billions of dollars spent on business advertisements and promotion. Recently, the marketing and communications industry unknowingly woke up to a great opportunity for a simple and organic way to promote businesses. This self-help system enables people to leverage, their social network.

The relationships that exist beyond core online social media is of tremendous value from a marketing standpoint. In a time when we tend to place more value and trust on the opinion of someone we know. 84% of consumers say they either completely or somewhat trust recommendations from family, colleagues or friends about products and services, referrals become a powerful tool.

Additionally, personal referrals by word-of-mouth are much more targeted in nature as the referrer acts as a filter to identify potential customers (as opposed to marketing broadly via high cost, established social media channels, like Facebook, which may not necessarily reach an actual buyer).

Plentix is a modular tokenized platform with a goal to bring benefits to its customer, brands and businesses that sign up. As such, everybody stands to win: the success of the platform is tightly connected to the success of its users, the growth of its token and the value created by the ecosystem. With Plentix interface, Users can refer a friend using the easy-to-use . The referee will receive a discount code that they can use to purchase from the specific business they were referred to.

The amount of discount and number of times the referee can use it depends on the schema every business set on their business admin panel. The referred person will then be able to use the discount code to purchase a product or service. The discount code might only be active for a period of time, which depends on the schema that specific business set for the referrals, they have this freedom to change it anytime needed. The referrer will receive a digital token or discount code reward, depending on the business’ referral schema, however, the referrer will only receive the commission if the referee uses their discount code and purchases from the business.

Benefits of using Plentix

1. Plentix facilitates an open-source APIs that businesses can utilize to grow referral programs, giving them the flexibility to have their preferred features and fit them to the nature of their business. The reward options, amounts, time validity and the number of reward purchases the referrer gets from referee’s purchases can all be customized by businesses.

2. The flexible, easy-to-use and low-cost (almost free) referral program that is available for businesses using Plentix gives them a perfect opportunity to dedicate a portion of their marketing budget to grow and develop a very effective referral/reward program.

3. Plentix also offers some basic, easy-to-use tools for businesses that do not want or need to pay for programming, which will provide them with an admin panel and basic integration options. Plentix DApp will also create an ecosystem in which all participating businesses will share a common digital currency (the Plentix token, REFER).
   

Plentix Token Generation Event

To fund the development of Plentix, there will be a TGE (Token Generation Event) for Plentix project tokens, hereafter referred to as REFER. A TGE is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for funding. This is seen as a transparent and well-respected way to raise funds in order to build Plentix. Getting the appropriate resources together - from developers, designers, marketing personnel to a legal team will require funding. A TGE was opted for, rather than traditional seed and series A funding through venture capital roots. It enables open banking enthusiasts to become part of a larger community of like minded individuals. We plan to raise funds in an incremental fashion, starting with a pre-TGE event where selected potential investors will have the opportunity to invest early at a discounted rate. We will then open up our main event, the TGE, to the public where all the remaining REFERs will be sold.

TGE will follow two weeks after the initiation of the public pre-sale. The softcap is expected to be reached during Pre-TGE.

Softcap: 3,000,000 USD

HardCap: 24,200,000 USD

In conclusion, Plentix is one-stop innovative platform that disrupts the referral economy using state-of-the-art blockchain technology. It leverages new software architecture concepts such as configurable modules to enable developers to use Plentix’s open source API to design and launch their own admin panels to better manage referral campaigns - via blockchain technology. Plentix is well positioned to bring new and fresh thinking in the referral economy and incentivized referrers, referees and business to work in sync for the benefit of the entire ecosystem.

For more info, check out Plentix website and whitepaper.

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