Quadriga InitiativeParticipating Businesses
While we can't change what happened for the tens of thousands of affected users, we can help out with a recovery, which we hope will reach an unprecedented scale.
In general, promotions accept tokens at face value. While businesses have all kinds of flexibility, the best promotion is one where the business is giving something for free, ideally something of higher value with low cost of production. This maximizes the goodwill reputation of the business, engages more activity, and positions the business higher on the leaderboard.
Example Promotions
Below are some examples of promotions that could work really well:
- A hardware wallet manufacturer provides wallets at a heavy discount to affected users, accepting the rest in tokens.
- The manufacturer still makes a small revenue on each sale.
- Affected users save a substantial amount.
- More affected users are able to secure their funds, serving to prevent or lessen the risk to those users.
- The manufacturer gains good will, showing themselves as a leader committed to higher morals than just money.
- Some affected users may purchase other products/services or recommend the wallet to friends/family.
- A web hosting service decides to accept, for the next year, tokens in place of cash for web hosting services.
- The actual cost of providing web hosting is incredibly cheap, so costs for the company are almost none.
- The web hosting service gains a large number of additional customers, who will be very likely to renew for cash in the future.
- Affected users get free web hosting, which could help them start up a business or promote themselves and rebuild their lives.
- An online news publication decides to accept tokens in place of cash for subscription renewals.
- Many online publications are facing trouble building up bases of readership, and this brings potential new subscribers.
- Affected users gain access to additional information.
- The publications gets good will and show community support, while the costs to serve an additional reader are minimal.
- An online retailer accepts $20 in tokens, for any customer who purchases $100 or more.
- The retailer attracts customers (affected users and deal seekers) across Canada, who make purchases and increase revenue.
- Affected users save some money from the retailer.
- Others in the community can purchase the tokens to support affected users and save money at the same time.
- A psychologist has a practice but plenty of idle time, and provides 3 hours of free counselling to affected users (operating remotely as allowed for under provisions of the law), accepting tokens in place of cash.
- Affected users, for many of whom this is a life altering and traumatic experience, get help they may otherwise not get.
- The psychologist gets publicity, good reputation, and practice.
- Many affected users stay on and continue to use the services of the psychologist.
The marketplace will evolve and develop over time. These are just examples. Businesses are given flexibility to create promotions that suit their needs as well as those of the community.
Invalid Examples (Rejected Promotions)
There are a few rules for promotions that we will accept.
Tokens must be accepted at face value ($1 each). For example, our psychologist couldn't charge 1000 tokens for those 3 hours if their normal rate is $100/hr. Similarly, you can't have a special product which is only available for tokens, not ever bought for cash.
Nothing illegal would be allowed to be promoted on our marketplace.
We reserve the right to reject any promotions that we feel don't serve a net benefit to the community, at our sole discretion.
The Blockchain Leaderboard
To help encourage businesses to sign up and contribute the most value, we will be providing a free leaderboard.
The leaderboard sorts businesses based on how many tokens they have accepted/recovered. Tokens are burned to a blockchain address that encodes their URL, putting the information on the blockchain directly. We will be handling the burning for most businesses (likely through our partner exchange) to make it super easy.
The blockchain publication means that the system is fully decentralized with the exception of the initial token creation. The generosity of businesses in the community will be immortalized forever, as a historic monument to who we are and how we came together in this time. Anyone can launch another leaderboard to organize the information better, and the initiative continues regardless if our site goes down or anyone else.
This is a great free promotion for businesses, and gives participants in the token program a great place to shop for good deals and assistance in rebuilding their lives.
For more details, if you want to see how everything fits together, check out the token flow diagram.
Take Advantage of This Unique Opportunity
Join our initiative today.