The mobile application space has a variety of options for generating revenue. Many mobile platforms rely on paid features to generate revenue. This includes apps in gaming, lifestyle, and many other categories. These profit models extend into the financial sector as well. Some companies require payments for each use of a service. For example, from the PayPal website:
There is a fee to send money as a personal payment using a debit card or credit card. The fee in the U.S. is 2.9% plus $0.30 USD of the amount you send. For example, if you send $100.00 USD by credit card, the fee would be $3.20 USD ($2.90 + $0.30).
Since we want to make the ELIX mobile app simple and cheap to use, we do not plan to collect tokens for user transactions. There is no reason a payment of 100,000 USD should forfeit the customer of over 2,900 dollars. In our view, sending a payment should cost at maximum tens of cents. We will discuss a more promising business model next.
One variable in our model scales directly with both the size and involvement of the user base. As more users join the app, and more miners buy up ELIX to mine, this demand will be reflected in increased net rewards. To sustain continuous development of the product, the company can allocate a percentage of these rewards for company use. In this way, the business continuously generates capital. Receiving this capital depends upon delivering a great user experience and onboarding more users. We’ve illustrated this business model in the graphic below:
There are a variety of other features often incorporated into apps that could be introduced as well. Many apps have paid features and limitations on freemium models. However, because our freemium model generates revenue, we can focus on the above business model first. This model will be simple to implement and requires the addition of only several lines of code. We do not need teams of engineers to build memberships or paid upgrades; rather, we can focus on our product and base our revenue stream only on its quality.
Recent Growth and Attention
We would also like to discuss the recent growth we have seen in our community and channels. We know that an influx of attention and interest bodes well for the future of ELIX. However, we would like to emphasize that Team ELIX is interested in attracting long term attention.
Recently, large scale buying and selling has caused particular volatility in the price. We see value in the long term vision of ELIX, rather than short term price fluctuations driven by day traders. We do appreciate the increased interest in ELIX. Additionally, we hope that new members of our community take the time to thoroughly read all resources on our website and various channels, as many common questions can be answered there.
