Coupit, found online at Coupit.com, is a blockchain-driven incentive platform built on the NEO blockchain. Find out how it works today in our review.
What Is Coupit?
Coupit aims to reinvent the global e-commerce marketplace by building a blockchain-based affiliate program and loyalty program.
The affiliate platform revolves around a digital token called Coupit (COUP), which is an NEP-5 token on the NEO blockchain.
The goal of Coupit is not just to offer an affiliate program, but to also combine their reward ecosystem with the creation of a giant e-commerce marketplace. In other words, Coupit will be an affiliate system and online marketplace rolled into one convenient solution.
Sellers can track visitor interactions with an analytics dashboard, and customers can interact with the platform through an app.
How Does Coupit NEO Blockchain Cryptocurrency Work?
Coupit is a decentralized platform built on the NEO blockchain. The platform allows businesses and individuals to market their products and services through a blockchain-based marketplace. Affiliate marketers, meanwhile, can earn money by referring products and services to people through that marketplace.
Coupit uses special APIs to speed up interactions and transactions on the platform. Customers can purchase items using traditional payment methods (like VISA and MasterCard). The platform plans to eventually add payment support for top cryptocurrencies.
Certain programs, including the affiliate program and loyalty program, rely on smart contract technology.
Overall, Coupit sees itself as a revolutionary change in the e-commerce ecosystem. Here’s how they describe it in their whitepaper:
“Coupit is an innovative, revolutionary blockchain-driven project that is exceptionally feasible and sustainable, as well as imperative for the reformation of the e-commerce ecosystem.”
The platform will use two tokens, including Coupit tokens (COUP), which are on sale during a May 2018 token sale, and Recoupit (RCPT), which are automatically rewarded for reputation-based interactions within the platform. You can spend COUP on products and services on Coupit, while you can receive RCPT tokens simply for holding COUP in your online wallet.
What Problems Does Coupit Seek To Solve?
Coupit believes today’s e-commerce marketplaces and affiliate marketing systems have several crucial problems, including all of the following:
- Broken affiliate programs, where large corporations control how much and when to pay referral fees, which often leads to discrepancies with little recourse for the affiliate
- Problematic trust and reputation systems, with users forced to trust centralized servers or trust each merchant separately; fraudulent buyers and merchants remain a problem in all online marketplaces
- Long and expensive payment process, including complicated and expensive payment gateways for merchants
- Poor loyalty programs, with each corporation attempting to implement its own affiliate program, loyalty points program, and similar solution
Coupit will introduce four core solutions to the market, including all of the following:
Coupit will use smart contracts on the NEO blockchain to automatically handle distribution of funds. When a buyer completes a purchase on the Coupit platform from an affiliate link, for example, the affiliate will receive 5% commission on the purchase (assuming the sale was made within 48 hours of referral).
Insights For Sellers:
Coupit will provide an analytics dashboard for sellers, allowing sellers to track visitor interactions within their seller pages (including profiles and products) to boost engagement efforts. Coupit will use machine learning algorithms to recommend certain products and services, helping sellers maximize online conversions.
Coupit will have a “Trust Program” that serves as a platform-wide reputation system. Buyers and sellers have a rating through this Trust Program. Coupit will also have a dispute resolution process that allows clients or merchants to file a claim.
Coupit plans to introduce a loyalty program using two tokens, including Coupit (COUP) and Recoupit (RCPT). COUP will be a utility token for all in-platform transactions (including advertising and product purchasing) while RCPT will be generated automatically based on the amount of COUP held by any particular user.
Coupit emphasizes the following features:
- Automatic reimbursement of payment to affiliates who refer customers
- Customer insight dashboard, which is an analytics resource where sellers can gather customer information and use it to generate more sales and increase customer loyalty
- Digital arbitration system, which is a resolution center for handling seller and buyer claims
- Blockchain technology that helps check and verify the reputations of buyers and sellers on the platform
- Coupit loyalty program for merchants
- Customer incentive programs, including welcome bonuses and rewards for sharing reviews
- Easy cryptocurrency payment integration
Coupit COUP Token ICO Details
The Coupit token sale begins with a pre-sale on May 12, 2018, followed by a main ICO on May 26. The exchange rate is set at $0.05 per Coupit token, rising to $0.06 per token by the ICO. There will be two future stages to the ICO with prices set at $0.07 and $0.08 token, although dates for these sales have not yet been announced.
There’s a total supply of 1 billion COUP tokens, with 475 million (47.5%) available during the token sale.
Who’s Behind Coupit?
Coupit is led by CEO and Founder Andrew Hamilton, an entrepreneur who has been involved with e-commerce for over a decade. He began his career as a stock and commodities broker on the Chicago exchange.
Other listed team members include Chris Dudley (CTO and System Architect). Chris has 10+ years of senior software engineering experience and oversees the technical development of the Coupit platform.
Coupit aims to disrupt today’s e-commerce space by creating a new blockchain-based loyalty program, incentive program, affiliate program, and marketplace. The decentralized app is built on the NEO blockchain and revolves around two tokens: COUP and RCPT.
To learn more about Coupit and its upcoming token sale, visit online today at Coupit.io