What is RefToken?
RefToken, the World’s first affiliate marketing platform, was created in Malta, Europe, to disrupt the huge $6.8 Billion USD affiliate marketing industry; which currently experiences several obstacles to a seamless and smooth user experience for both merchant and affiliate. This is where RefToken’s revolutionary affiliate platform intervenes to facilitate the process of finding quality affiliates and ensuring both parties act honestly.
At present, merchants who want to engage in affiliate marketing must rely on intermediaries, who will identify potential affiliates, vet them, and monitor them over the course of their relationship with the merchant in question. This process is expensive, time consuming and highly inaccurate, which is why RefToken seeks to eliminate the intermediary entirely. Instead, RefToken provides a platform where merchants and affiliates can connect with each other directly, limiting the cost and trouble of this marketing method, via smart contracts on the blockchain, as shown in figure 1.
A full working prototype of the platform is available now on the RefToken website, both to use as an ‘affiliate’ and a ‘merchant’, and has received highly positive feedback. Moreover, the RefToken team have committed to building a dedicated ICO-launch platform. The ICO platform will allow new ICO’s to launch on the RefToken platform, gaining valuable exposure as well as providing affiliate and revenue tracking capabilities for their crowdsale.
RefToken is an ERC20 token functioning on the Ethereum network. In order to provide such swift, secure, and affordable services, RefToken has created the ‘REF’ currency. Merchants and ICO partners will pre-purchase REF prior to creating a smart contract on the platform; this ensures they always have enough money to pay their affiliates as soon as the contract is executed, as shown in figure 2.
As a result, affiliates can be confident that they will be paid for their services, making them more likely to honour their end of the contract and thus contribute to an efficient platform. This inherent usability stimulates a high supply and demand for the REF token, which is currently trading on several exchanges, including OKEx, IDEX & the UK based exchange CoinFalcon. As liquidity of the token grows, and usage of the platform expands, it is expected that the price of the tokens will appreciate, ensuring a strong usability and token economy. This encourages both merchants and affiliates to onboard new users to the platform, to appreciate their tokens value, and encourages them to invite others to the platform, and do business there as honestly and fairly as possible. The REF currency is integral to the efficient functioning of the platform.
Partnerships and Development
RefToken have formed a key partnership with ParsecLabs, who are working to improve on-chain scalability of not only the RefToken platform, but also the Ethereum Plasma network. ParsecLabs are one of the May 2018 recipients of the Ethereum Foundation Grant in the Scaling category, and their research team is lead by Johann Barbie, who is the blockchain architect and adviser for RefToken. ParsecLabs are a well respected and key part of the Ethereum community and co-development with RefToken will surely lead to a quality and innovative platform.
The team have stated in their April 2018 community update that three new ICO partners are going to be launching on their platform, which will be the first use case of the RefToken.
Currently Trading Exchanges
RefToken’s ICO ended in December 2017, and since then REF has commenced trading on OKEx, one of the World’s leading exchanges both in trading volume, security and user experience. RefToken’s listing on OKEx provides investors and users with a number of different trading pairs, including REF/BTC, REF/ETH, and REF/USDT, allowing for maximum purchase flexibility. Furthermore, RefToken have also acquired listings on the decentralized ERC-20 token exchange IDEX, and the UK based exchange CoinFalcon, allowing investors multiple exchanges on which to purchase RefToken.
Additionally, RefToken announced in their April community update that they are now in the final legal processes to become listed on a USD supported exchange. This will undoubtedly open RefToken’s availability to the wider USA market, which should see a strong upsurge in trading volume in the coming months.
With only 1 million REF in circulating supply until the end of 2018, and the imminent listing on a USD supported exchange, RefToken shows huge upside potential for price appreciation. Furthermore, the upcoming ICO platform launch shall not only increase demand for tokens (as ICO’s will be required to purchase tokens to use the platform features), but in addition it shall also become the first clearly defined use case for REF, a smart move by the team to show the inherent utility of their token before the full launch of the affiliate marketing platform.
Finally, the current welcoming regulatory stance towards blockchain in Malta, offers a great incentive for new ICO’s to establish themselves on it’s shores. This puts RefToken in a niche position where they are poised to approach and on-board many of these new ICO’s to launch via their platform, to reach a greater number of potential investors.
The future is certainly looking bright for RefToken!
|Total Supply||50 000 000|