Plentix, found online at Plentix.io, is a blockchain-based platform and application that aims to disrupt the referral economy. Find out how it works today in our review.
What is Plentix PTN?
Plentix is a blockchain-based solution for the modern referral economy. It aims to spread rewards to all participants in the referral economy, including merchants, users, friends, and app developers. These participants receive rewards in the form of Plentix tokens.
The ICO for Plentix tokens will begin in March 2018. The platform is expected to be ready for public release by January 2019. However, the MVP version was completed back in August 2017.
When Plentix is talking about “the referral economy”, the company is talking about the practice of referring users to products and services. Social media has led to an explosion in growth in the referral economy. Online interactions like referrals are easier and more immediate than ever before, and many people won’t use a product until getting a recommendation from someone they know or trust.
How Does Plentix Work?
Plentix aims to reimagine the referral process by rewarding all participants in the referral economy.
In today’s referral economy, only the referrer will earn a reward. A referrer refers someone to a product or service, then receives a payment from the maker of that product or service.
Plentix aims to create a new ecosystem where all participants have the chance to earn money. One key way in which Plentix does that is by giving both developers and businesses a tremendous amount of flexibility, as well as a chance to earn money through their developments.
For example, a business or developer can use the Plentix API sets to write his or her own software modules, applications, or feature sets. These can be developed on-platform or through a third party application. When these features are implemented into the Plentix software, the developer can receive a reward.
Let’s say a developer creates an API, and a customer uses that API to refer someone to the platform. In this situation, the developer receives a reward.
Meanwhile, the core Plentix ecosystem manages all referrals and transactions on the platform. The goal of the platform is to offer a one-stop shop for businesses and referrers, allowing them to centrally create, signup, and track referrals and interactions.
Users can access multiple businesses across various sectors with the Plentix mobile app or website. There’s no need to interact with multiple referral platforms across multiple industries.
How to Make a Referral Using Plentix
How does Plentix actually work? How can you use Plentix to make a referral? Here’s the basic process you can use:
1) You can refer a friend using the easy-to-use Plentix dashboard. That dashboard can rout your invitation through social media, email, or SMS. You choose the product or service you’re trying to send to someone, then choose how you’d like to send that offer.
2) The referee (the person you’re sending the referral to) will receive a discount code. They can use that discount code to purchase a product or service from a specific business. Some codes will allow the purchase of one product or service. Other codes can be used multiple times. Some codes will expire after a certain period of time, while others will not. The business sets the rules for each code.
3) The referrer (the person who sent the discount code to the referee) will receive a digital token or discount code reward, depending on the referral schema established by the business. However, the referrer will only receive the commission if the referee uses their discount code and purchases from the business.
Plentix emphasizes the following features:
Decentralized and Automated: Plentix is a decentralized platform built on blockchain technology. It gives businesses and developers a structure while still remaining free and avoiding intermediary fees.
Innovative Architecture: Businesses will have a wide range of integration options, allowing them to seamlessly plug their CRM or POS systems into the platform. Developers can build their own applications or integrate with the Plentix application.
Flexible Reward Options: Plentix users can customize how they reward their referral network. The referrer may get a 10% reward in tokens for every referral that makes a purchase or gets commissions for the first three purchases, for example. Businesses can choose to reward in Plentix tokens or other currencies.
Access to Tokenized Referrals: Every time business and customers connect, and every time someone makes a recommendation, the Plentix token stores and transfers the value of that referral. The end result is a token that represents the value of a referral. As more people use the platform, the value of the token should increase.
The Plentix PTN ICO Token Sale
The Plentix token sale will take place in March 2018. The company is selling Plentix project tokens, or PTN during the ICO.
Of the total supply of tokens, 60% is allocated to the token sale. The remaining tokens are allocated for advisors and early investors (20%), a company reserve fund (10%), a referral program (5%), and bounties and community development (5%).
Plentixis seeking to raise approximately $10 million USD through the token sale by selling 100 million PTNs at a price of 1 ETH = 10,000 PTNs.
Who’s Behind Plentix PTN?
Plentix is led by Alex Javdani (co-founder and CEO), Yashar Toopchi (co-founder and CTO), and Sasha Blackler (co-founder and CMO).
The company is based in Melbourne, Australia. It was founded in 2017.
Plentix PTN ICO Conclusion
Plentix aims to use blockchain technology to disrupt the referral economy. Today’s referral economy is bigger than ever thanks to social media. However, there are major problems in the industry – like a lack of transparency and high fees between businesses and referrers. Plentix wants to solve these problems with a blockchain-based solution.
The Plentix token sale is taking place in March 2018. To learn more, visit online today at Plentix.io.