PERKS: A Real-life Use-case for Privacy Coins

PERKS are tradable coupons in the form Privacy Coins on the Incognito blockchain. Issued just 2 weeks ago, PERKS has reached close to 400 transactions and has built a telegram following of over 120 users. 

What is PERKS?

PERKS aims to be a global system for distributing, redeeming and liquidating digital coupons for businesses. Users can get PERKS in giveaway events, buy them directly in bulk, or buy them on the Incognito pDEX. They can use PERKS to get discounts on purchases without giving away any personal information.

How to merchants benefit from PERKS?

    • No cash outlay for marketing campaign.
    • Easy and fast to set up and execute.
    • Recoup part or all of the cost of discounts with instant liquidity.
    • Offer rewards and rebates without reducing cash flow.
    • Tap into economies of scale from global merchant-agnostic PERKS ecosystem.

Rapid growth through referrals and viral loops

How did PERKS go from zero to almost four hundred transactions in a week, and can other businesses use the same model? Let’s take a look.

    • Airdrop. On December 3, PERKS posted its first promotion on Twitter. The first 100 people to follow, like, retweet, and comment their Telegram handle and Incognito address received 100 free PERKS in their Incognito account. With one tweet, they got massive exposure on Twitter, and were able to start a PERKS community on Telegram.
    • Sharedrop Phase 1. An additional 70 PERKS were airdropped to the first 60 respondents on Twitter with the same rules as the Airdrop.
    • Sharedrop Phase 2. Anyone with PERKS can now earn an additional 80 coins by sending at least 1 coin to two different people who didn’t participate in either of the previous airdrops with specified custom message. Users just comment on their original airdrop post with the transaction ID of two eligible PERKS transactions. This expanded the user base even further, and generated user-to-user transactions.
    • Sharedrop Phase 3. In the third phase, prizes will be given to users who shared PERKS with the largest number of new users. This will serve as an incentive to continue sharing after completing Phase 2.

What’s next for PERKS?

With an established and verifiable base of users, PERKS has begun approaching merchants to accept PERKS promotions. Soon, PERKS will be posted on the Incognito pDEX, allowing new users to purchase PERKS and merchants to liquidate PERKS received for promotions. Make sure to follow @perkstoken on Twitter for more promotions and ecosystem updates.

Takeaways

In a short amount of time, PERKS created an engaged network of nearly 400 users by issuing a Privacy Coin on Incognito and promoting it on social media. They setup incentives for social media exposure, distributed anonymous Privacy Coins with Incognito, and ran campaigns to encourage viral growth.

If you’re a business with social media followers, you can do the same thing now. Visit http://incognito.org/create/privacy-coins.html to learn more about Privacy Coins from Incognito, and make sure to keep an eye on PERKS.

This article is part of the Incognito Case Studies series, where we spotlight projects using Incognito Privacy Coins successfully. Incognito is not affiliated with PERKS in any way.

 

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