Our giveaway has received over 26,000 entries! If you haven’t already, be sure to sign up here. We’re giving away 10,000 ELIX in total to over 100 winners!

App Launch

Our app is launching on August 9th! Sign up to get notified of the upcoming launch here. You can view the countdown timer leading up to launch on that page as well.

Product Direction

Over the past month we’ve seen that tokenized rewards are an incredibly powerful marketing tool. In less than two weeks, we’ve gained thousands of followers and over 26,000 giveaway entries. Thanks to Twiz.io for helping us run an effective, viral marketing campaign that got us over 2.5k retweets on our recent giveaway announcement. We think we’ve found a way to use this powerful marketing tool on a larger scale in the future.

We are currently exploring possible roles for our upcoming token dubbed “Token P” within the app. In this blog post, we describe one possible role for Token P and how that role would help our app become much more mainstream.

We are exploring the possibilities of e-commerce and crowdfunding with tokenized discounts and incentives. Those discounts and rewards could be in the form of Token P. From talking to many creators, we’ve found that the majority of their supporters use fiat, even if creators accept crypto. Keeping this in mind, it makes sense to merge the powerful marketing tool of tokenized rewards with the form of payment that is most in demand, in addition to supporting current options like ELIX and Ether within the app.

Therefore, one option is to have Token P be a discount token when supporting creators with fiat. This would introduce non-blockchain users to crypto, while making the app much more desirable for all creators. Fees could be structured in such a way to make using ELIX the cheapest method in terms of a host cut, and when using fiat creators would need to have or use Token P to receive discounts. This allows us to listen to the needs of creators while introducing a clear use case for Token P and provides powerful, free marketing. We’ve taken the time to discuss the integration of fiat into the app with our legal team and have been pleased their feedback as well. We will be considering approaches like the above and deciding how to prioritize development time over the next few months — if we feel the incentive is strong enough to move in this new direction we will announce any changes to our roadmap when the time is right. It makes sense to prioritize features that will turn the company profitable fastest, so we’ll be taking a much closer look at these features in the near future.

Leadership

Two new developers are being on-boarded over the next few weeks. One developer will be responsible for general development, while the other is a senior consulting developer who will handle anything the team could use guidance on. There will be a trial period of two weeks for one developer, and each developer will be contracted. The transitions will begin around August 9th-12th and once all relevant documentation regarding the transition is ready.

We would urge our community not to draw conclusions or stress about the recent changes of leadership; the product is moving forward regardless. Sometimes realizing that there are differences in opinion on how a company should be structured, or how product design should be approached means that addressing those problems quickly is the best move for both parties. Plaza has also graciously offered to onboard new developers by providing documentation on development all features to speed up this transition, and has done a stellar job preparing the app for launch.

Become A Creator

We’re working on adding new creators to Boost, our crowdfunding platform. You can become an early creator by signing up here. If you need ideas for Boost, think about projects for crypto podcasts, wallets, games, smart contract development, crypto summaries, or even customized accessories.

That’s all for this week! We’re as excited as our community to share this product with the world. We hope you’ve enjoyed this week’s round of updates! Be sure to sign up to get the app on our homepage as well as connect via social media on Reddit, Twitter, Discord, and Telegram. We also have Facebook and Instagram pages, and a newsletter you can sign up for at the bottom of our website. To create your own project, sign up to be an Early Creator here. Stay tuned and follow our Medium Blog for exciting updates!