Loyal is a universal rewards platform running on a layer-1 IBC blockchain powered by Ignite and Cosmos-SDK with the goal of onboarding sites and shoppers to Web3.
For the past 20 years, Loyal has been building and managing award-winning eCommerce sites (including the Newsweek Food Site of the Year) which attract millions of shoppers annually. Loyal has built a universal rewards platform which integrates eCommerce rewards with the USL token on the Loyal blockchain.
LYL is the native token of the Loyal blockchain and is used for fees, governance voting and funding initiatives that the community approves.
Project Overview:
With Loyal, shoppers earn reward points based on items purchased. Loyal operates like any other rewards program; however, there are two key distinctions:
- Points can be redeemed at any Loyal site (universal rewards)
- Shoppers can convert their points to the LYL token and participate in Web3
When a shopper redeems points, USL is exchanged with the site and LYL is used to pay transactions fees. If the shopper connects a wallet, they can choose to convert their points to LYL and participate with other Web3 projects.
Technology Overview:
Loyal has built USL to be a fully integrated solution for eCommerce that is all on-chain. Loyal has created plugins for custom .NET sites and WooCommerce (WordPress). Magento, Shopify, and other top platforms will be added based on market demand.
- Loyal will build a custom API for sites with existing rewards programs to send/receive/delegate tokens plus execute IBC transactions
- Loyal will offer additional Web3 functionality to eCommerce sites
Future:
Loyal will expand the use of USL to other market segments and continue to innovate as Web3 advances. Loyal will make “Convert to Crypto” more prominent when market conditions improve and sites are willing to showcase this option.
