@ThanXFinance If you can tie in a variety of online use cases such as seen in your examples this will be a great addition to the tron ecosystem.
Will there be incentives for early adopters such as staking/airdrops etc?
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Hi @Simon,
Weāre glad you like our idea and also see its potential for #TRONICS.
As for the incentives, here is why it will worth to be an early adopter:
- you can join our waitlist and share a prize pool of 500$ worth of our tokens
- exclusively for the early adopters, we will offer a high APY bonus on their earned cashback
- participate in our launchpad sale on JM
- by using our products early, through the cryptoback feature users can earn more tokens which is likely to appreciate in value over time
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Time for another UPDATE!
As promised, our Whitepaper v1.0 & Tokenomics is released and you can check it here: ThanX Finance Whitepaper.docx - Google Docs
We appreciate any comments, questions, suggestions or a few words and we will be happy to get back on it!
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Your whitepaper is quite detailed but you mention open banking as a future plan several times.
What do you mean by open banking technology, how it will be implemented in your solution?
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ThanX for the feedback and the question!
Basically, with open banking technology authorized third-party institutions (mostly FinTech companies) can access banking data in a secure way with of course the userās permission. This is due to the European PSD2 regulation which aims to accelerate financial innovation.
In our case, when we launch our mobile application then we are going to use this technology to make it possible to earn crypto while shopping offline in a brick-and-mortar store. This will give an opportunity to the users to collect crypto after offline spending by sharing transactional data with us.
Hope I could answer your question, but if not, please let me know!
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Sounds good! And how safe is this? I mean sharing this kind of data?
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Revolutionary project for loyalty and reward programs, the white paper clearly describes almost everything, my question is will it be available worldwide immediately when the project is completed?
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Thanks for the great question!
Overall, open banking is highly regulated and secured in Europe because:
- Open banking API endpoints have been built by the banks and they are constantly tested by them and regulated third parties.
- Businesses using this technology have to undergo a very strict audit made by financial regulators (usually national banks).
- Users never share passwords or credentials and they are in full control of what information they want to share and with whom. Besides, every 90 days, users have to re-enable permission to share data.
At the launch of our mobile app security will be the number one priority, so we are testing Mastercardās open banking solution because they have reputable expertise in this.
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Hi @mre!
Thanks for the feedback and the great question!
When we launch we are going to be available globally immediately, however, our main focus area is the EMEA region.
To specify a bit, on our platform there will be:
- brands available globally (Travala)
- brands available in specific regions, like European Union (BiotechUSA)
- brands only available in a specific country (Deporte Outlet in Spain)
You will be able to filter between brands based on your country, so you will simply see where you can earn crypto when shopping online.
Let us know if you have any further questions!
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All clear, just one last question.
To use your mobile app will it be mandatory to enable this open banking solution? Or it is just a choice for users to make?
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Can crypto also be used in this app? If yes then what all crypto are gonna be used?
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Itās totally up to the users!
In the beginning, you will be able to earn crypto when shopping online through our browser extension, where open banking wonāt be available.
Later, when we launch the mobile app, it will be up to the users whether he/she enables open banking or not. However, it will be necessary to enable open banking feature in order to get crypto after offline shopping too.
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On your website and on you promotional images, you make use of widely known brand names and logos. I imagine that you are allowed to use such elements. Can you reference the partnership agreements for the sake of transparency?
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Thanks for the great question, @Sirluke!
The designs, graphics and logos are for illustration and informational purposes only and they may not always correspond to reality. This is noted on our website as well. But to be more specific, we have an agreement with about 80% of the brands you can see on the designs, which means we receive a commission to share with the users.
The reason for not being totally up-to-date is that we are continuously in contact with brands and conditions are under negotiation. Also, deals sometimes may fall through.
The ability to give cryptoback also depends on technical challenges like tracking the purchases through deeplinks. So with some brands this can also delay onboarding.
However, we have been announcing partners on our Twitter account, like Udemy, Travala and PUMA and we will keep posting them.
Moreover, we are finalizing a section on our website and will also make an up-to-date list to showcase all of our partners.
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I suggest you to be very clear and transparent to users about brands partnerships. Making a deal with a store that sells sport gear doesnāt mean you can use the brand logos that are sold in that store to promote your product.
Also, instead of using fine print on the webpage, setup a page where you state clearly the partnerships that are active at this moment.
Just my 2c.
Good luck!
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Hi, the whole concept is to give back crypto after shopping at popular brands and this will be the same in our app. Weāre creating a utility token on the TRON blockchain and the users will receive it as cashback and it will also be redeemable for discounts & gift cards. Although, weāre also considering adding new cryptos like BTC or TRX at a later stage.
I hope this answers your question and please let us know if thereās anything else.
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To be clear, we never used brand logos just because we made a deal with a store that sells a product as weāre making agreements with popular brands directly.
Weāre trying to be as transparent as possible and with almost every brand you can see on the designs we either already agreed, or weāre currently in contact. Plus, we have partners we didnāt even announce anywhere so far.
Anyway, soon weāre publishing a section on our site with the active partners so you and the community will be able to check the active ones.
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Time for our 3rd UPDATE!
We are listing partners on our website, https://fortunx.com like PUMA, Udemy, Aliexpress, NameCheap, FOREO to keep you updated where you will be able to earn crypto when you shop. So far more than 15 popular brands have joined our program!
However, we are not live yet, you can support our project by clicking on the brands on our website and making a purchase. From the commission we receive, we will buy THANX tokens at launch to support the price growth of our token.
We are constantly negotiating with new partners to bring you even more opportunities to earn crypto when you shop, so keep checking our website and Twitter.
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The cashback % will be the same at every partner?
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No, the cashback % will differ for each brand but it will be between 2-20%.
It depends on how successfully we can negotiate with brands, where our goal is to agree on the highest possible cashback %.
Furthermore, brands will also be able to offer limited-time deals with higher cashback %, so it will be worth checking out our platform every day. 
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