Coin Rewards enable your audience to redeem their accumulated points for ERC-20 tokens.
In order to create a coin reward you will need to have Coin contracts available in your account. You can either create a coin yourself or import an existing coin contract in the dashboard.
A coin reward is configured in the dashboard and requires a title, description and optionally an image to display in the widget user interface.
Example of a Coin Reward where 500 points can be redeemed for 5000 THX-DEMO coins.
Select the Coin Contract for this reward. If you select an imported or limited supply coin, make sure to transfer enough coins to the pool in order to let your audience redeem them for points. You can find your pool address in the pool card on the pools overview page.
Specify the amount of coins transferred to the user that redeemed the amount of points specific in point price.
Specify the amount of points required as payment for the coin reward. Points will be destroyed upon redemption.
Tip: The amount of points required for a coin reward payment does not necessarily have to be equal.
Example of a how a coin reward with a supply of 100 allows to redeem 500 THX-DEMO for 5000 points
Next to the coin reward title the amount of coins transferred after a 5000 points redemption (500 THX-demo) is shown.
The coin supply limit will be updated after every redemption and the green color will change in yellow when there is less than 25% of the supply left and to red if there is less than 10% left.
Example of the confirmation modal shown after choosing to redeem 5000 points.
After confirming the redemption in the confirmation modal the system will verify if in the meantime the perk has expired or the supply limit has been hit. If the user balance is sufficient a transfer of ERC20 from the pool to the known wallet address of the user will be transferred.
After confirmation of the transaction the point price will be subtracted of the users point balance and the token will be visible in the users wallet.