[Whitepaper+] MiL.k premium membership program
and issuance of its membership token,
‘LZM’(LoungeM)
1. Introduction
MiL.k membership is a customer loyalty improvement program with purposes of strengthening collaboration with partner brands and invigorating user activities on the MiL.k platform.
To provide premium service and special benefits to users who made high level of contribution to the platform, MiL.k is introducing MiL.k membership level system. Also, membership LZM token will be newly issued to serve as a meas- urement of contribution level.
On top of reward points integration with Milk Coin (MLK), which was listed last February, new membership program aims to further spur growth of MiL.k service by providing additional benefits to contributors of the platform.
2. Membership program and roadmap
1)NEW membership level, LZM token, and premium benefits
All users will still have access to existing feature and benefits like discounts on rewards point purchases or cashing out of the points after the introduction of membership program. However, only VIPs will have access to features or benefits specific to upcoming premium membership market.
By participating in existing MiL.k services such as rewards point trading or MiL.k Pack, users can earn membership token, LZM (sub-token) as rewards for contributing to the platform. Number of total LZMs earned in a certain time period will then decide user’s membership level.
MiL.k will reveal more details about membership levels and number of required LZMs for each level in future busi- ness announcements.
2) NEW VIP USER & DATA SHARING
Users can earn LZMs by trading reward points of partner brands, using Coupon Payment feature, etc. Users who earned certain number of LZMs will be categorized as customers with high stickiness to MiL.k alliance services and purchasing power. MiL.k premium membership is a pool of such customers who are potential primary marketing targets of partner brands. With co-promotion, MiL.k and partner brands will conduct CRM (Customer Relationship Management) marketing for primary target users such as selling higher-value items with discounted prices or providing priority access to limited sales. Partner brands will elevate marketing accuracy with verified user data, and users will experience numerous benefits including discounts. This will be crucial in completing a virtuous circle in the MiL.k ecosystem.
3) Expansion to the NEW integrated membership system
After accumulating meaningful and credible data from membership system inside MiL.k platform, MiL.k is also plan- ning to allow partner brands to adopt MiL.k membership system depending on their needs, and ultimately, expand MiL.k membership system to an integrated membership system that spans MiL.k platform and multiple partner brands.
In short, MiL.k will support premium members of MiL.k ecosystem to also enjoy additional benefits on services provided by partner brands too.
On top of reward points trading service, MiL.k alliance premium membership program will allow MiL.k to further strengthen partnership between partner brands.
3. What is MiL.k membership token, LZM?
LZM (LoungeM), a privilege membership token of MiL.k service is to be granted to users with high activ- ity rates on MiL.k service as a benefit. It is a membership point to measure contribution level of users. LZMs are acquirable by using MiL.k services and will serve as criteria of determining membership level and availability of premium services or special benefits.
1)Function and Role
First, LZM is a scoring data of all activities in MiL.k platform which will be transparently recorded and safely managed on blockchain.
Second, LZM will have attributes of digital assets, being transferrable between users and open to investment(pur- chase) via digital asset exchange.
Third, users can use MiL.k wallet to check balance or transfer LZM tokens.
In short, MiL.k membership token, LZM is a record of user activity in MiL.k platform, criteria of determining mem- bership level based on contributions, and also a proper digital asset by itself.
2) How to acquire LZM token
Users can earn LZM token by contributing to invigoration of the MiL.k platform. Such contribution includes trading rewards points of partner brands or participating in attendance event or MiL.k Pack.
Moreover, users can also acquire LZM token by participating in burning of Milk Coin (MLK).
LZM token is planned to be listed and thus will be purchasable via digital asset exchange in the future.
3) How to use LZM token
LZM token is a membership to access premium services only provided to VIP members.
Some premium services may require payments with LZM token. Details about criteria of membership levels will be revealed soon.
LZM token cannot be used for the reward points trading feature or exchanged with Milk Coin (MLK). LZM token also cannot be used as a payment method to services not included in premium membership.
4) Issuance and distribution
Total of 1,000,000,000 LZMs will be issued.
85% of its total supply is planned for gradual distribution to users based on activities on MiL.k platform. Below is detailed distribution plan:
※ LZM distribution policy: The team (development and operation) portion will be distributed only when the user distribution 1) and 2) are done, and the amount will be 10% of the user distributions. Also, the long-term reserve will not be distributed until all other portions are, so LZM’s circulation supply will mostly consist of the user portions.
⊙ To meet the intention of issuance, no presale is available for LZM token.
⊙ Real-time circulating supply of LZM token will be available on MiL.k official web.
4. Expected effects
MiL.k expects to achieve maximization of mutually beneficial relationship and synergy with partner brands starting with MiL.k membership program project. MiL.k also plans to keep improving on customer management and boosting customer loyalty to make MiL.k membership program essential to both customers and partner brands.
MiL.k membership token, LZM will:
1)boost customer loyalty and motivate customers to use services, resulting in increase of traffic in the MiL.k platform. Increased user activity means higher reliability of membership data.
2) provide credible user data based on activities on MiL.k platform to partner brands. This will allow partners to conduct more accurate targeted marketing to attract new customers and increase sales. As a result, volume of rewards points trading will increase and customers of MiL.k platform will move on to partners, completing the virtu- ous circle.
MiL.k has always aimed for shared growth with partner brands and improvement of customer loyalty to partners from the start of the project, and this will always be our main objective.
MiL.k project will always strive for innovations and make best effort to create useful services for everyone.
