SLP is a new decentralized platform that makes loyalty programs more valuable.
Challenges with the current loyalty programs
The biggest problem with loyalty programs today is that there are too many of them.
A lot of us have loyalty programs at, for example, food stores, airlines, hotel chains and more.
Out of these memberships, there is a tremendous amount of valuable points that are not used, and real value is being lost. The main reasons for this are undesirable rewards and the fact that we often never reach enough points to claim prizes.
Currently, over half of all participants of loyalty programs are inactive, and the more people participating in the program, the more unused points it will be.
The points are then either forgotten and deleted or inaccessible, as there are not enough remaining points to be able to use it on anything. People regularly discover that companies make significant changes to the established rules to give additional benefits to themselves.
Solution- tokenized loyalty programs on the blockchain
Using blockchain technology, SLP, short for SailPlay cards, is developing a new platform that will allow you to switch or easily buy points, so we get the most from the programs.
SLP will redesign the structure of today and enable companies to issue “tokenized” loyalty programs on a distributed blockchain platform. Token-based loyalty programs allow customers to switch between points to the platform’s primary currency, SLP, which is a token based on Ethereum’s blockchain.
According to the business plan of the company, the application will be available at the beginning of next year. The team is led by Leonid Shangin, who has extensive experience in sales and technology and has previously worked for companies such as McKinsey and Rocket Internet.
ICO & Token distribution
SLP has announced that their token sale is going to start this summer. The website has opened up for whitelisting, but an exact date for the ICO has not been set.
60% of the total token supply (4 bln.), is going to be released to the participants of the ICO. 15% is allocated to the team, 5% bounty and advisors, while the last 20% is going to be put in a reserve fund.
The ICO will be accepting BTC, ETH, LTC, DASH, as well as USD (through bank transfer).