Sandblock Campaigns for blockchain and Crypto Brands
Discover how blockchain and cryptocurrency Brands will be able to leverage the power of the Satisfaction Protocol and the Sandblock mobile application to engage their community!
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You certainly all know that already, but Sandblock is about engaging Brands customers and communities through rewarded actions. Right now, the Brands which need it the most are… crypto and blockchain Brands!
Introducing Sandblock Campaigns for crypto-Brands
As any crypto-addict knows, Bounty Campaigns have been used by all projects related to cryptocurrencies and blockchain technology to create a community and engage its first members.
Creating and growing a community is definitely not something easy. Especially if you lack the proper tools.
Bounty campaigns are a great way to do it, however it needs to evolve and move beyond the scope of “Google Spreadsheet” and “Weekly retweets”… This is when the Satisfaction Protocol enters in the game.
I. Using crypto-Brands own cryptocurrency
The Satisfaction Protocol allow Brands to create their own Branded Token and offer it as reward to their customers. But most blockchain projects have a crypto-asset or will have one at some point and this is already their form of “Branded Token”. To solve this problem, we designed a mechanism to allow projects to leverage the power of the Satisfaction Protocol while avoid scams and spam on the Sandblock mobile application.
II. Running a crypto-Brand campaign
To run a Sandblock campaign, crypto-Brands will have to follow the following process:
[1] The crypto-Brand purchases $10 000 worth of SAT (the amount will be re-evaluated on a weekly basis)
[2] Lock their SAT into the protocol contract to enter the campaign queue
[3] Wait for the next vote (once every week or when there is at least 3 competing Brands). SAT holders can vote for the next campaign they want.
[4] The highest ranked wins and get to run his campaign on Sandblock’s mobile application using the Satisfaction Protocol (other crypto-Brands are refunded)
[5] The more SAT community members hold, the earlier they can join the new campaigns (as the number of places is limited by the crypto-Brand)
[6] During the campaign, every participant can earn Bounties for the future or already existing crypto-asset of the Brand (such as BSAT during our own Bounty Campaign)
[7] Once the campaign ends, all participants get rewarded using the crypto-asset of the Brand (ex: SAT in our campaign) depending on how much bounties they acquired and the total amount of bounties acquired by all participants. For instance, if the reward pool if 1 000 000 Tokens and that a total of 2 000 000 Bounties for the Token were acquired, then someone with 800 bounties would get 400 Tokens (800 * 1 000 000 / 2 000 000 = 400)
[8] Regarding the SAT locked by the Brand, 25% are burnt, 25% go to the Early adopter pool to drive legacy Brands adoption and 50% are returned to the crypto-Brand, pretty much like the Branded Token withdrawal process.
This mechanism is designed to allow other crypto-asset to be used as rewards within the Satisfaction Protocol while empowering SAT holders and protecting the community from the spam that could result of letting everyone listing freely.
We are running a pilot program for this mechanism with a few selected crypto-Brands (announcements will come very soon) 😎
III. What can crypto-Brands do to engage their community
The capabilities are the same as the one designed for legacy brands. Meaning that all crypto-Brands will be able to reward their community members for the following actions:
- Social media like, share, retweets
- Friend referral and invitation
- Surveys and community questions
- Airdrop tokens using QRCodes (like we did during our Easter Egg campaign)
- Play games and compete with others to be the first
- More upcoming…
Join us and stay up to date!
