The problem Loyalty Tokens solves

The primary objective is to enhance customer loyalty and engagement by offering a more attractive, user-friendly, and rewarding loyalty program. Blockchain's features can facilitate seamless interactions and transparent reward tracking, leading to increased customer participation.

Challenges we ran into

Implemented a ERC-20 smart contract on the blockchain that can create and manage fungible tokens representing loyalty points.

1. Fungible Loyalty Token Issuance:

• When a user makes a purchase, they will be eligible to receive fungible Loyalty Tokens.
• The issuance will include details such as the date of token issuance and the amount of tokens received by the user.

2. Token Usage for Exclusive Offers:

• Users can utilize the received Loyalty Tokens to redeem exclusive deals and offers offered by the loyalty program.
• The loyalty program will provide a platform for users to explore and select the available deals and offers for redemption.
• Multiple earning avenues, including referrals, challenges, and more, will empower users to earn additional loyalty tokens.

3. Retailer and Seller Involvement:

• Retailers and sellers participating in the program will have the capability to reward their customers with Loyalty Tokens.
• These tokens can serve as rewards for demonstrating loyalty to their brand or for achieving certain milestones.

4. Token Decay and Expiry:

• The Loyalty Tokens will have a decaying nature, meaning they will expire after a predetermined period of time.
• Tokens will carry an expiration date, and any unused tokens will automatically expire once the specified time has elapsed.