Last Update
Jul 11, 2018
Triffic is a gamified navigation app that awards you with cryptocurrency just for living your day-to-day life. It runs on the Ardor blockchain and lets users earn loyalty points called ‘GPS Tokens’ by performing actions such as travelling to a location, redeeming vouchers, selling items or booking a hotel or taxi. It also provides business owners with a revolutionary way to promote their services or sell their products to truly local clientele in a way that is much more engaging than existing methods like Google AdWords. We intend to use 50% of our monthly advertising profits to purchase GPS Tokens from the open market. In turn, 85% of these tokens will be distributed to all GPS Token holders who have a wallet balance of 1000 GPS Tokens or more. The other 15% will be burnt, and thus removed from general circulation.
Triffic is a gamified GPS app that puts blockchain on the map! Unlike most blockchain-based businesses, which are highly niche and relevant only to certain demographics, Triffic can be used by anybody who needs to travel. This can be a quick walk to the shops or a journey of many hundreds of miles.
BENEFITS TO USERS
· Earn GPS Token loyalty points
· Exchange GPS Tokens for Bitcoin, Ethereum or any other cryptocurrency
· Exchange GPS Tokens for physical products
· Easily book hotels and taxis
BENEFITS TO BUSINESS OWNERS
· Create loyalty reward vouchers that offer discounts for their products and services
· Automatically promote services to anybody within a defined radius of their business premises
· Redeem and track vouchers and measure the effectiveness of their campaigns
Every month, 50% of the advertising revenue earned from Fuel is used to purchase GPS Tokens at the market rate. Wallet addresses that have over 1000 GPS Tokens receive these tokens at random intervals during the month in proportion to the number of GPS Tokens that they own. For example, somebody who owned 1,000,000 out of 100,000,000 of the circulating GPS Tokens would receive 1% of the total amount of purchased GPS Tokens.
GPS Tokens are what makes the Triffic ecosystem tick. Because they are blockchain-based, all transactions are transparent. We chose the Ardor blockchain as its parent/child chain structure is less likely to lead to blockchain bloat than Ethereum alternatives. In fact, Ethereum will be copying Ardor’s parent/child chain fundamentals in its forthcoming ‘Plasma’ update - which currently has no scheduled launch date.
Unlike the majority of ICOs which derive their value only from an external asset, GPS Tokens are used to power the Triffic economy and are therefore akin to utility tokens. A good comparison would be ‘Linden Dollars’ in the game ‘Second Life’. Whilst it is possible to exchange these into Bitcoin using a site called Virwox, the tokens are also defined as utilities.
GPS Token holders who have over 1000 tokens in their wallets will directly share in the success of the Triffic ecosystem by receiving additional GPS Tokens as revenue-sharing payments at random points during the month. We intend to use 50% of our monthly advertising profits to purchase GPS Tokens. In turn, 85% of these tokens will be distributed to all GPS Token holders who have a wallet balance of 1000 GPS Tokens or more. The other 15% of these tokens will be burnt, and thus removed from circulation.
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