The world's first rewards program built on the blockchain technology Ribbit.me announces the beginning of its RibbitRewards airdrop campaigns, consisting of 200 million RibbitRewards given away to registrants and 200 million RibbitRewards up for pre-sale.
"Giving back to the community is very important to the Ribbit.me team," Ribbit.me CEO Sean Dennis said in an interview. "That is why 5% of all RibbitRewards created will go to charity. We also have partnered with Melotic and Global Outreach to allow charities around the world to accept donations in RibbitRewards."
Aiming to enable positive social change through the adoption of the blockchain technology, RibbitRewards is a patent pending blockchain based customer reward program designed to incentivize economic activity by rewarding both buyers and sellers with a unit of value distributed from the blockchain’s decentralized ledger.
In an email communication with CoinTelegraph, co-founder Gregory Simon stated:
"I left my career in investment banking to find solutions to the current financial system. Solutions that help empower individuals. Bitcoin and blockchain technology is a potential solution. We built RibbitRewards as a tool to help Bitcoin to get blockchain technology into the hands of the world’s mainstream."
When a transaction occurs on a marketplace or on a merchant's website that has the Ribbit.me plugin, the data is automatically fed into the RibbitRewards blockchain. A certain number of RibbitRewards are produced per block period, and dependent on the size of our transaction relative to other transactions during that period, participants receive a proportionate amount of the RibbitRewards.
"The RibbitRewards for our transaction are split between you the buyer, me the seller, a percentage to charity, Ribbit.me, and then the rest to the miners," explained Dennis in an interview with Bitcoinist.
The company stated earlier this year it intended to offer RibbitRewards in a pre-launch in two airdrop campaigns: a free airdrop and a paid airdrop campaign amounting of 200 million units each.
Both the free and the paid airdrop are occurring concurrently and will run until December 14. At the end of this month, relevant amounts of RibbitRewards will be credited to RibbitRewards wallets each user creates. Users wishing to earn more can refer friends and relatives and receives an additional 10% of the recipient’s allocation. Those interested in acquiring more RibbitRewards can for a limited time in the Paid Airdrop purchase more using cash, credit card, ACH or digital currencies Bitcoin, Litecoin, Dogecoin or Ripple.
Later this month, the company is planning to launch Marketplace.life, "a completely free-to-use, multi-currency bazaar where both buyers and sellers earn RibbitRewards from each transaction," reads the website. The company stated it has already signed up many merchants and millions of goods for its shopping portal.
One of the most interesting features that offer Marketplace.life is that given a transaction, the buyer and the seller can use different currencies. For instance, the seller can choose to accept USD while the buyer can choose to pay in RibbitRewards and through multiple partnerships with payment processing companies, this can be done seamlessly. Payment processing partners include Snapcard, HolyTransaction, Payza, Egopay, ZipZap, Bitgo, Shapeshift.io, and Mastercoin.
More than 3,000 users have already registered and the amount of RibbitRewards per free airdrop user is currently set to 65,876 units, which is presently estimated at US$14.90. Interested parties still have 12 days to register to Ribbit.me's RibbitRewards free airdrop program and earn free units.
For more information, please read Ribbit.me whitepaper.
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