How can businesses participate in Astra Rewards?
The permissionless and trustless Astra Chain allows ANYONE to join and become Reward Providers as long as they have $ASA tokens. There are many ways to own $ASA token within minutes and as a starting budget of $1
The most affordable (and also most sustainable) way to have $ASA is to create incentive for users to spend/redeem $ASA back to business either by directly selling products in exchange for $ASA, or discount x% for y $ASA, or giving free shipping if users give z $ASA. Reward Providers can create any scheme they can think of to accumulate $ASA and at the same time, retain customers and grow their business.
Buy $ASA from DEX (Decentralized exchange). DEX Dapp can be accessed directly or inside Astra Hub. Buying from Astra DEX means buying directly from other users or Reward Providers, which contribute to the liquidity of $ASA.
Buy $ASA from other exchanges like Tiki Exchange and others (e.g. Osmosis DEX, Binance…) and transfer $ASA to the Astra Hub account of that business.
One way to buy $ASA at a discounted price is to buy vesting $ASA from Reward Provider pool. This $ASA will be vesting over 12-36 months and released daily. The funding collected by selling vesting $ASA will be used for market maker, creating deeper liquidity for Astra DEX, business development, creating more tools and infrastructure for Astra Chain.
Once owning $ASA, businesses (or users) can use their spare $ASA to contribute to the security of Astra Chain by becoming validators to validate transactions and earn $ASA. Another way is to delegate and stake $ASA to existing validators and earn $ASA reward after validators taking their commission.
After having $ASA, how can business use $ASA to reward its customers?
For Online businesses: businesses can decide what amount, what rule they want to reward customers as simple as 1 $ASA for every $1 purchase and announce this scheme on both of their app/website and Astra Hub (for more exposure, traffic). After a user completes a purchase or any activities eligible for $ASA reward points, she will be redirected to Astra Hub where she can set up an account to receive $ASA reward (or using her current account).
For digital services or online activities, Astra smart contract will check that business account to see if there’s sufficient amount of $ASA to reward. If yes, $ASA will be transferred from business account to users account immediately and the transaction is considered completed.
For physical goods which take time to be delivered and involve cash-on-delivery, $ASA will be locked from that business account to make sure: a.users will receive the exact amount of $ASA token they were promised; b.business receives full payment. When the Reward Provider/business signals the physical transaction is completed (products/services and payment are done), locked $ASA will be released and transferred to the user's Astra Hub account.
Not only using ASA as reward coin, businesses can reward customers based on their history purchases by non-fungible tokens (ERC721) or hybrid tokens (ERC1155) which have been backed by a valued fungible token (like Wrapped ASA ERC20). Users can redeem these tokens by depositing to the e-commerce platforms accepting them and using them as discount offers, or exchange them with other users depending on demands.
: as the world is shifting more and more digital, we’re prioritizing online businesses first. In the later phase of Astra development cycle, the team will enable ways for offline businesses to reward $ASA to its customers using simply a phone and QR code.
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