LoyalCoin replaces traditional customer loyalty programs with a flexible, fully transferable token that can be used to redeem rewards from aWhitepaper
LoyalCoin (LYL) replaces traditional customer loyalty programs with a flexible, fully transferable token that can be used to redeem rewards from any participating brand, anytime, anywhere. It creates a more open ecosystem for customer loyalty that strengthens relationships between brands and their customers. LYL is a token built on the NEM Mosaic platform.
How does the project create value to the ecosystem
The founders of LoyalCoin have extensive experience in addressing brands’ needs for reaching out to customers, making the project uniquely positioned to understand, develop and implement a wide- reaching platform for universal loyalty point redemption. LYL puts economic value into loyalty points that otherwise would have gone stagnant and expired. The value unlocked by these previously unused points will be a source of surplus economic activity, which results in more transactions. Revenue is created from per-transaction fees and subscription fees collected from participating brands. LYL is also designed for blockchain-enabled functions such as P2P transfer and making remittance payments.