What, Why, Who, Where When and How! The Essentials for any ICO

It’s ALLOY Question & Answer Hour

You all must be having a lot of questions about ALLOY ICO. We are always here to answer all your queries. But, a usual Q and A session is a little mundane!

Here, we have categorised our Q & A session based on your characteristics, your level of excitement and inquisitiveness. Let’s get engaged into an interesting question answer blog post session to know more about ALLOY ICO and also to check which category you and your questions will belong to.

1. Powered by Practicality

You are more concerned about the execution and keep yourself more on the practical side of life. If you are the one, then go through this section to know the practicalities of this project.

Q — Why do you need Blockchain and Cryptocurrency?

Using Blockchain & launching our own Cryptocurrency would make the Rewards Network Truly Global. By using smart contracts Brand on-boarding, execution of transactions can be near to instant, seamless and secure. Most importantly it would allow audit of the Reward point flow which is a mandatory requirement for Brands issuing them.

Q — Does Codemojo have enough experience in executing this project?

Codemojo is a Customer Engagement company in operation since 2015 with global customers including marquee clients like SkyScanner, OYO, BigBasket India. It is supported by Paypal Incubator, Reliance (Fortune 500 Company) GenNext Hub Accelerator & Microsoft Accelerator. Currently, Codemojo runs the World’s first Machine Learning powered Rewards Network that unlocks user engagement, acquisition and retention, through constant and instant rewarding. As of now, the platform connects 100+ Brands and 2,000+ publishers (Apps & Websites) on a single platform engaging & rewarding Millions of users across the globe.

Q — How will ALLOY make money?

During Redemption of Reward Points: When a user from a partnering Brand or Publisher redeems their points on the Global Rewards Network, the respective Brand or Publisher will be charges for the Value of Exchange, along with a Transaction fee for enabling the redemption. The Value of Exchange will be passed on to the Brand who had displayed the products in the Rewards Catalog for Redemption and a small percentage as commission will be charged from them for the driving the respective sale.

Implementing Bulk Buy model under Micro Redemption section of Redemption catalog: For Micro Redemptions, there will also be a list of products in the Rewards Catalog that are sourced at a bulk buy savings model with a minimum saving of 15% to 20% from the cost of redemption.

Q — How will Codemojo use ETH raised during Token Launch?

The ETH received in the crowd sale will be used by Codemojo to implement the Blockchain technology on its existing Rewards Network and to rollout the new Global Rewards Network in the targeted geographies. A detailed fund usage has been given in the home page and whitepaper.

2. Enthusiastic Evangelist

You are open to new possibilities and love supporting the ideas that inspires you. Well, then check this out.

Q — What are the Benefits of Global Rewards Network?

For Users: A Global Rewards Catalogue of highly diversified Goods & Subscription in exchange for the Reward points accumulated from different Brands & Publishers.

For Brands: An opportunity to exponentially expand loyalty/redemption partnerships across the globe and to have reduced on-book liability through increased redemptions.

For Publishers: A new tangible way to reward users for their engagement without the hassle of building and managing a Rewards engine or an exit catalogue on their own.

Q — What Cryptocurrencies are accepted in Crowdsale?

ETH & BTC will be accepted in the crowd sale. To participate, a prospective investor will have to have an Ethereum or Bitcoin wallet pointed at the token/crowd sale address to partake in the crowd sale. ALLOYs are Ethereum derived tokens.

Q — What will Rewards Catalog consist of?

The Global Rewards catalog will be in two sections consisting of products/services subscriptions listed by partnering Brands who are on the lookout for driving transactions or acquiring new users. This will be accessible for users through a consumer facing Mobile App & Website.

Micro Redemption Section: Bus Tickets, Movie Booking, Store Value Gift Cards, Pharmacy, Café, etc..

Macro Redemption: Air Ticket, Hotel Booking, Events & Attractions, Holiday Booking, Rentals, etc..

Q — How can a Regular Customer Access the Rewards Network?

The User downloads the ALLOY app → Signs in → Links different membership accounts → Sees the total combined worth of Rewards points in Local Fiat Equivalent → Accesses the Rewards section → Checks out with a product of choice.

3. The Investigator

You always probe, analyse and then take decisions. If you are more into probing, here is your section of Q and A!

Q — What do ALLOYs Represent?

ALLOY are tokens in a new Blockchain-based Rewarding platform. They are not refundable, nor are they securities for speculation. There is no promise of future performance; No suggestion or promise that ALLOY has or will hold a particular value. ALLOYs give no rights in the company and do not represent participation in the company. ALLOYs are sold as a functional goods. Any value received by the company may be spent without conditions. ALLOYs are meant only for experts in cryptographic tokens and Blockchain-based software systems.

Q — How will Codemojo store ETH?

Codemojo will use the standard Ethereum multisig (multisignatory) wallet to store the ETH.

Q — What kind of Virtual Currencies would Rewards Network accept?

In the initial phase of the Global Rewards Catalog, existing Reward points from Brands and Publishers can be used for redemption, going forward during Phase II, ALLOY & other Cryptocurrencies can be utilized to make transaction in the Rewards Network.

Q — On what basis the Initial Token Supply was decided?

Globally $360B worth of Reward points are left unredeemed, we are deploying ALLOY & Global Rewards Network to mobilize the same. The Tokens apart from being used for crowdsale fundraise, will also be facilitating the cross border transaction between consumers and merchants in the backend using REPAC, hence we arrived at a fixed one time supply rate which can gradually accommodate the total market requirement as we scale up.

4. The Inquisitive Individual

You are quite inquisitive and always ask why, what and how! Then don’t miss this section, because the answers you were searching for might be here.

Q- What is the use of ALLOY

ALLOY Tokens are the Reserve/Anchor currency for the entire ecosystem which will be the medium of exchange in conducting any transaction on the Global Rewards Network. Similar to how USD is the Global Reserve Currency or Anchor Currency facilitating International Trade by a common exchange factor, using ALLOY TOKEN, Partnering Brands & Publishers can set the exchange value for their reward points which will govern redemption in the ecosystem.

Q — What is REPAC and Where it is used?

On the surface, REPAC (Real-time Point Acceptance and Conversion) enables local Fiat transactions between parties making it frictionless for all businesses. Under the hood, REPAC uses Blockchain & ALLOY enabling global cross border transactions. This preserves the value for all three stakeholders i.e. Brands, Publishers, and Consumers, by converting the currencies & in-house points of different values to a common ALLOY baseline (based on the market value), in real-time, using Smart contracts to facilitate secure and auditable transactions.

Q — Which countries are part of Rewards Network Rollout plan and When?

The Reward Network will be rolled out in a phase wise manner starting Q2 2018, Singapore, India, Indonesia, Canada, Spain, UK, USA, EMEA, Malaysia, Japan etc.. For detailed plan please check out our Roadmap on the website.

Q- What is the Price of ALLOY? What is the cap of Tokens and expected Total fund to be raised?

ALLOYs will be a fixed ratio to ETH. The exchange rate will be 575 ALLOYs per ETH.We are targeting a raise of as much as 86,956 ETH. We will be allocating 50% of the total tokens for the Crowd sale.

Did you find out your type of questions? Leave a comment and hit like, if you liked this blog post. And if you still have questions to ask, you can either leave us a comment below this post or ping us in Telegram. And get ready to be a part of ALLOY Pre ICO, which is scheduled on 15th of October.

Do check out our Website, if you want to join ALLOY ICO!