Soon, the crypto space will experience what is being termed as the largest referral program in the history. According to the Internet of Services Token (IOST), this historic event will be conducted on the coin’s community hub. The referral commissions are lucrative, with each successful referral earning users 600 IOST, equivalent to $15 in fiat currency. Furthermore, IOST officials have confirmed that the event will have prizes worth $1,000,000 of IOST, with the, maximum amount per individuals being set at $16,000.
What's better than earning IOST with your friends? The #IOST Community Hub is now live. You can head to the hub to complete quests, learn about $IOST, and participate in our Referral Program. Earn up to 600 IOST for every successful referral!https://t.co/UethZjoTvF pic.twitter.com/QzQHYlQMI2
— IOStoken (@IOStoken) July 23, 2018
Unlike popular cryptocurrency promotions, this referral programs offers much more than the usual airdrops, bounties and affiliate programs. The only event that is remotely similar to IOST initiative was held by Tron (TRX). The result of the Tron promotion were particularly impressive, as the coin’s popularity increased, making one of the top-ranked cryptocurrencies in the world. Remarkably, the UOST event is expected to surpass the Tron airdrop.
Despite its alluring offers, the IOST programs has drew significant criticism, with several individuals claiming that it is a strategy for boosting the coin’s market share and popularity. Contrariwise, the proponents of the program argue that IOST is focused on building its reputation and brand image.
While IOST is a minnow in the West, the coin’s performance in the Far East (Japan, Korea and China) is something to behold. In June, IOST was recognized as the Best Public Blockchain network at blockchain awards gala held in Beijing. Additionally, IOST’s CEO, Jimmy Zhong, also received an accolade during this event.
Last night was the 2018 Global Blockchain Technology Development Conference hosted by @peopledailyusa. Extremely honored that #IOST was named the Best Public Blockchain (Technology) of The Year and I was named as Best CEO. There's a bright future for #blockchain in China! pic.twitter.com/SjrCQ32wzi
— Jimmy Zhong (@jimmyzhong_iost) June 23, 2018
The IOST project receives backing from prominent venture capital firms. After receiving $50 million seed funding recently, IOST established Bluehill, an accelerator program for blockchain startups. To date, Bluehill has supported multiple upcoming cryptocurrencies.
As of now, the success of the upcoming IOST referral program is not guaranteed. Nonetheless, the program has shown substantial promise, aiming it hard to overlook.