Lingo Introduces a Reward Token Backed by Real-World Assets
Publikováno: 19.3.2024
With Bitcoin pushing through all-time highs, the demand for cryptocurrencies has steadily increased. However, most crypto projects historically have failed to reward their communities in the long run. That’s because they were either built on ponzinomics, lack of real value generation, or real-world rewards to incentivize their communities. To solve this issue, Lingo has revolutionized […]
The post Lingo Introduces a Reward Token Backed by Real-World Assets appeared first on Cryptonews.
With Bitcoin pushing through all-time highs, the demand for cryptocurrencies has steadily increased. However, most crypto projects historically have failed to reward their communities in the long run. That’s because they were either built on ponzinomics, lack of real value generation, or real-world rewards to incentivize their communities.
To solve this issue, Lingo has revolutionized the loyalty program. With blockchain technology and real-world assets, Lingo aims to onboard the next billion users into Web3.
Lingo Revolutionizes Community Rewards
Lingo aims to simplify rewards with a user-friendly point system. The way it works is you buy $LINGO tokens, hold them to receive loyalty points and then you redeem points for real-world rewards like gift cards or vacations.
To make it sustainable, the team has programmed a flat fee of 2.5% on every $LINGO transaction, which is used to acquire real estate in cities like London, Paris, Miami and Dubai. The real estate will then be used to earn rental income. The entire net yield will be used to support the Lingo Reward Store, as well as to buy back the token every month, driving demand and increasing the token price. In the future, the Lingo DAO will vote on which real estate assets to be purchased.
$LINGO Token Explained
The $LINGO token is an ERC20 token deployed on the Polygon network. This is the utility token of the Lingo ecosystem, but it will become a governance token in the future when the Lingo DAO is built.
To get the token, you can participate in a whitelist campaign, which currently has over 150,000 users on a waiting list. All you have to do is submit your wallet and an email address to participate in a raffle. Winners will get The Priority Access Pass, granting early access to the ICO, guaranteed token allocation and a discount on the Lingo token. Learn more by following Lingo on X.
Expert Team Guides Lingo
Lingo was founded by HM Rawat and David Amsellem who have decades of experience in building loyalty programs. One of their loyalty companies was acquired by Accor Hotels in 2016 for $150 million. Now, they plan to bring their expertise into the Web3 world and reshape community rewards. The team has already raised $5.5 million in a private round, showing investor interest.
While we await the token launch, the team has already gathered over 300 million followers and over 100 Web3 leaders as project ambassadors. As for the Lingo rewards, the team is onboarding new partners to make over 100,000 hotels available in the loyalty program.
What Lies Ahead
Lingo’s roadmap lists several important milestones for 2024:
- MVP launch
- $LINGO listing on tier 1 centralized exchange and decentralized exchange
- Launching the rewards claim platform
- Increase hotel partnerships to 1 million
- Add flights and shopping rewards
As for long-term perspectives, the team plans to gamify the rewards and build the DAO.
Learn more:
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