Cryptocurrency

Raincheck: A global loyalty & rewards points exchange aggregator based on the Stellar blockchain.

Online shopping was a game changer in the 90s. The ability to sit in your home, in a couch, wearing your sleeping clothes and ordering anything online, from shoes to groceries, was an idea that took the public by storm.

As the idea caught on, every major retailer started their website. Since the 90s, the same formula has been applied. Build a website that highlights your products and allows people to buy online. With hundreds and thousands of online versions of brands, it was becoming difficult to retain customers. The result was loyalty programs. With each item bought, the customer is awarded certain points, which are redeemable after a certain amount has been aggregated. A very simple way, the loyalty program has lost its appeal in the recent decade.

The Story Behind Raintoken

Most shoppers prefer to check out products online, but physically go to a store and buy, to ensure that the product is as it seems. This creates a tracking gap and stores cannot identify if a customer is a walk in or has decided on a product after a careful study.

Raincheck, the company behind Raintoken, is a decentralized platform that is connecting the online world with the offline since 2014. The company does this by creating a high level of online product discovery and search by application/website users- and linking it with actual physical buying in stores.

Through the platform, Raincheck not only gives users a personalized experience, in both online and offline situations but also helps retailers in creating the link between online website/application browsing and connecting it with the real world, thereby enabling them to correlate data and improve their sales.

Loyalty Program

Today, the average shopper is a multi-brand, Omni product buyer. With every store running its own loyalty program, redeemable only within the store, it is becoming exceedingly impractical to have multi loyalty cards and points maintained by a shopper.

Raincheck and its decentralized Raintoken create an ecosystem where users and shoppers need only one platform for multiple brands and their loyalty programs. Instead of download different mobile applications for each brand and signing up for multiple loyalty programs, only one is needed. The Raincheck integrates all loyalty programs into one and allows for points to be interoperable. This means more points racking up for shoppers, giving them a fair chance to utilize them. On the other hand, retailers find it convenient that consumers can be retained by offering discounts or special offers through the use of loyalty points in their stores.

Raincheck’s Raintoken

The Raincheck platform, with its e-commerce and online to offline shopping protocol, allows for instant and easy, yet personalized shopping experience with loyalty programs built into the ecosystem. All of this is achieved with through its careful consideration of a blockchain ecosystem. The Stellar blockchain was selected after a detailed study and finding that it was the perfect system for fast, secure and instant transfer of micropayments.

The Raincheck platform, on the stellar network, will be used for transactions on the platform in the shape of e-commerce and loyalty programs. The platform has its own native token, the Raintoken, as a medium of exchange and value.

A total of 2 billion Raintokens will ever be created. The limited supply has been designed to counter the inflation factor that fiat currencies are subject to. With a limit on the number of tokens available, the value of each token will actually rise over a period as more demand is created. 35% of the supply will be available during the crowd sales at a set value of USD 0.04 per RAIN. With targeted sales of USD 12 million, a soft cap of USD 6 million is set for platform development, while a hard cap of USD 28 million is achievable.

Currently, the RAIN is on presale, and successful investors are given a 30% bonus. Investors must go through a KYC procedure. To ensure smooth whitelisting of investors, the platform has teamed up with OST KYC, one of the top KYC companies in the industry. Investors who are already registered on OST need not go through a redundancy and are automatically qualified to take part in the token sales.

Investing, Earning and Risks of RAIN

RAIN tokens are currently investable through the Raincheck’s platform. Whitelisted investors can only take part in the sales. As the sales proceed, investor’s bonus will gradually reduce. Later investors can acquire the tokens from listed exchanges (to be done at a later date). As the value of the token rises, investors can either cash out by selling them on the exchanges or use them on the platform.

RAIN, like all cryptocurrencies, is a highly volatile and speculative investment and backers of the token should do so on their own risk and invest only the amount they can afford to lose.

For more information, visit the Raintoken website: https://www.raintoken.org/

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