We wanted to create a loyalty token that has a guaranteed back stop value. About half of tokens offered in 2017’s are now trading at below the initial price so backstop value was important to us. We benchmarked the price to the retail cost of a typical commercial flight Mile (detailed in the WP). What a commercial flight Mile is worth varies on the day and your particular trip but they are typically around this price. The REM is also fully transferable across people and program partners with no fees (fees are high and restrict transfers), never expires, entitles you to 1.5 Lumens as part of your starter account and is redeemable for cash whenever you want, based on current market price.
You’re not locked in to any program. As we add loyalty program partners you redeem REM based on what you want on the day. You needn’t be exposed to any one program’s risks e.g. a major partner withdrawing or changing terms, and you aren’t faced with the risk of having to cash out of a program where you’ve earned loads of points. REM is a safer Loyalty program. And the ability to convert to fiat at any time means you can cash out whenever you want at a rate that’s multiples higher than typical loyalty programs.
Easily! After launch we list on the Stellar X Exchange. As a distributed peer to peer exchange it is transaction free and begins with 26 currency pairings https://medium.com/stellarxhq/announcing-stellarx-7dd62c168c2f. Read more at this link. Stellar is designed to enable quick low cost financial transactions so its perfect for fiat conversion.
Many of the team members that started the REM were frustrated Loyalty point junkies and were tired of programs changing rules and tak-ing too long to credit points. Or worse, ending up with loads of loyalty cards and near to use-less point balances in too many programs. And some of us came from RentalMiles which needs a really good loyalty program to reward its clients. So it started from frustration. Where was the currency for loyalty? Once the Block-chain came to the fore, we knew we could get a smart token to do this – we just needed a fast one with low gas cost because of the volumes. Hence, Stellar!
All REM token holders get to vote on future major decisions. Day to day decisions are with management but otherwise we’re sharing our future course with you. Future votes will be posted on our monthly reports.
We will post any market sensitive news such as new program partners or financial sensitive news on our site as it occurs. We will also post a monthly CEO report on our site and issue a longer formal quarterly report as well.
We have recently held several discussions with sport and fitness providers, high tech computer companies and gaming companies in Japan and the USA. We are also excited to be in discussions with credit card issuers and expect to announce a major partner in the USA that recently held a successful coin offering and will generate significant loyalty rewards for our members..
By getting a balance. A good market needs supply and demand so we may need to turn down partners every now and again to ensure we cover both sides.
Since January 1 of this year all loyalty pro-grams need to account for rewards in a way that significantly impacts their profit and debt. Our WP has examples of significant exposure. The REM helps alleviate this problem for those programs.
We are a registered company in Alberta, Canada. We had 3 criteria in selecting our company jurisdiction. A token offering friendly country with regulatory certainty, high AML standards and low company tax rates.
The AML, CTF, PEP and KYC standards em-ployed by us are all at a level that is as high or comparable to FINMA. We identify people when they sign up and when they redeem (you don’t need to do it twice) and run periodic checks on people against checklists. We have also engaged Identity Mind Global to run ana-lytics over people registering.
REM will be immediately tradable on StellarTerm, Stellar’s decentralized ex-change. Stellar is open-source, so the entire codebase (which powers the execu-tion of orders and trades) is transparently available for the public to be audited and verified.
Other third-party exchanges are free to list and trade REM and the pricing will be determined by the rules of these exchanges.
You can contact us at firstname.lastname@example.org or get onto our chat line.
REM is built on the Stellar network for speed and efficiency, but Stellar also enables immediate peer-to-peer trading through the Stellar decentralized exchange (DEX). StellarX, a brand new professional grade trading interface for the Stellar DEX, will open to the public in mid-summer 2018 with REM as one of the first tokens available for trading. StellarX improves on the existing StellarTerm in facilitating a more user-friendly environment to trade a growing list of Stellar-backed tokens. All Stellar-backed tokens like REM can be traded on Stellar’s exchange for a growing list of fiat currencies such as USD, EUR, KRW, CNY, SGD, AUD, etc. In addition to the Stellar-based exchanges, REM is a distributed loyalty token and can thus be listed freely on other central and decentralized exchanges.
We have created a total supply of 3 billion REM tokens to facilitate the REM Loyalty ecosystem. Our retail offering of 1 billion is to facilitate initial liquidity while the other 2 billion is to facilitate growing our current and future pipeline of commercial partnerships. We believe burning tokens would be unnecessarily constrictive for the ecosystem which is already sufficiently large given this supply. This is especially true with current partners like RentalMiles who are offering to reward the largest consumer spending category (rent) and Pinnedit.com offering the most aggressive loyalty program in the travel industry. The full retail offering and the initial allocations to these two anchor partnersaccounts for approximately half the total supply.