Plentix is application aiming to connect and reward all participants

The advent of cryptocurrencies and the tokenized economy makes it possible to re-imagine the entire value chain of consumer, products, and producers from a referral perspective. 91% of B2B buyers are influenced by word of mouth…and a further 84% of consumers report always or sometimes taking action on personal recommendations

I present Plentix for you, a tokenized platform that enables users to refer other users to a business entity and enables business entities toleverage existing APIs for industry specific referrals and allows for safe, secure, trustless value exchange to take place. Unlike other referral platforms, Plentix unleashes the potential of a new global ecosystem to monetize referrals for every stakeholder, from the producer to the consumer.

What is Plentix?

Plentix is a blockchain-based project aiming to tokenize the referral economy and spread rewards to all participants. Merchants, users, friends, even app developers may receive awards in the form of discounts or Plentix tokens. The option of going for an ICO instead of traditional seed and series A funding through venture capital allows for community participation and an opportunity for everyone to reap the benefits of a global referral economy.

Why Leverage the Blockchain?

There are many referral style marketing programs, rewards programs and agencies that help businesses (usually large businesses) create and operate referral programs. However, there are a number of challenges — from referral creation, to adherence, to ensuring safe and secure transactions — that represent key limitations to the existing methods. Plentix believe the blockchain allows us to easily address a number of difficult questions for both the business and the referee — which, when answered will allow the referral economy to flourish and give the PTN token tremendous value

Plentix has selected the blockchain as a technology for creating a solution. The technology has a number of inherent benefits that give Plentix an advantage — and allow the above questions to be solved. Key focal points of the Blockchain technology that drive us to adopt it are:

a) A decentralized, distributed ledger — provides referees with a safe and secure system, giving them confidence knowing that no company can alter records or change the system.
b) A decentralized, distributed blockchain system — provides business and developers with a structure to allow the platform to remain free while, at the same time, allowing a vast number of developers to build on it.
c) Immutable records — companies can feel secure knowing that no hacker or otherwise will attempt to remove, steal or compromise their system. In addition to this, referees know that their rewards are safe and secure — unalterable by any company or hacker
d) A consensus mechanism removes any centralized authoritarian or controlling company, enabling network participants to validate transactions — giving way to proof of referral, and clarity for both businesses and referees.
e) Security — advanced cryptographic techniques inherent to the technology — giving referrers the confidence to share with contacts anywhere in the world, and via any channel
f) Smart contracts — self-executed, automated contracts — gives referees and referrers confidence in knowing why, how and when the terms of their agreement with a company will be executed
g) Smart contracts automation — allows business to easily plug and play with supported software, enabling reduced cost with effortless scaling capabilities and automation.

Highlights of Plentix

Decentralized And Automated
A decentralized, distributed Blockchain system — provides businesses and developers with a structure to allow the platform to remain free while, at the same time, allowing a vast number of developers to build on it. Smart contracts automation — allows programmers to easily plug and play with supported software, enabling reduced cost with effortless scaling capabilities and automation. Using decentralized, distributed infrastructure, Plentix provides programmers and businesses with open-source set of APIs and features.

Innovative Architecture
Businesses will have a wide range of integration options — allowing them to seamlessly plug into their CRM systems or POS systems. While Plentix’s platform empowers developers to write their modules, Plentix application will allow programmers to write a module which will integrate with Plentix application and transfers the programming GAS fee to them when a business using their software module has a transaction. In spite of several players in collaboration backstage of Plentix application, users only see one front-end interface and only need to sign-up to Plentix application.

Flexible Reward Options
There are many possible ways for referring your network to gain rewards. The referrer may get a 10% reward in tokens for every referral that makes a purchase or even get commission for first three purchases; it is up to the business to choose. The reward may be in Plentix tokens. Rewards may be monetized for up to four purchases by the referee client. Reward options may vary from business to business, and include tokens, discounts or a mix of both.

Access To Tokenized Referral
Every time businesses and customers connect, every recommendation for a friend, the Plentix token stores and transfers value. As Plentix is a network platform with an underlying token that is an asset in the crypto economy, everyone wins: the platform’s success is intimately connected to the success of its users, the growth of its token and the value of the ecosystem powered up by the Plentix platform. (#4Win)

How does Plentix work?

You can refer a friend using the easy-to-use Plentix interface. Plentix offers the capability to refer users who are not members of the platform by routing the invitation through social media, email or SMS — giving all users an easy, straight-forward way to interact.

The referee will receive a discount code with which they can purchase from the specific business they were referred to. The amount of discount and number of times the referee can use it depends on the schema every business set on their business admin panel.

The referred person can then use the discount code to purchase a product or service. The discount code might only be active for a period of time which depends on the schema that specific business set for the referrals, they have this flexibility to change it anytime needed.

The referrer will receive a digital token or discount code reward, depending on the business’s referral schema, however, the referrer will only receive the commission if the referee uses their discount code and purchases from the business.

The benefits that Plentix offers to its users

Plentix is a platform that gives developers both a tremendous amount of flexibility and the potential to earn via their developments. A developer can use the Plentix APIs to write their own software modules, either on-platform or via their own 3rd party application. On-platform modules can be integrated within the Plentix application.

On-platform developers will earn income for every interaction a customer has through their development; i.e. Programmers can use Plentix’s feature set to write specifically tailored administrative panel for businesses they interact with and get paid for every transaction with those businesses inside the Plentix application.

The businesses’ administrative panel offers different industry-based options in which a business can choose which referral schema they want to offer to users. The referrer can always choose between Plentix tokens or discount at the store or online. Plentix anticipate that options will vary for each business, based on their nature.

You can control when and how your referrals are shared. As a decentralized platform, it’s all done on the blockchain — fully automating your referral program using smart contracts — with no need for authority, or any controlling business in between

The Plentix ICO

To fund the development of Plentix, Plentix will have an ICO (Initial Coin Offering) for Plentix project tokens, hereafter referred to as PTN. An ICO is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for funding. Plentix see this as a transparent and wellrespected way to raise funds in order to build Plentix. Plentix need development resources and capital for that.

Getting the appropriate resources together — from developers, designers, marketing personnel to a legal team will require funding. We are confident in this endeavor, and want everyone to reap the benefits of a global referral economy. Plentix want to cultivate community participation of Plentix’s success. As such, Plentix opted for an ICO, rather than traditional seed and series A funding through venture capital roots. It enables open banking enthusiasts to become part of a larger community of likeminded individuals.

Plentix plan to raise funds in an incremental fashion, starting with a pre-ICO event where selected potential investors will have the opportunity to invest early at a discounted rate. Plentix will then open up our main event, the ICO, to the public where all the remaining PTNs will be sold.

Plentix aim to raise approximately $10M in fiat currency. In today’s market rates that translates to roughly 10,000 Ethereums (ETH). Plentix also designate a conversation rate of 1 ETH for 10000 PTNs. So Plentix will circulate and intend to sell 100 Million PTNs. Plentix supporters and investors will have the option to buy PTNs with Ether at Plentix’s website in pre-ICO and token sale phases and with Bitcoin, Ether and Litecoin at major exchanges in future.

Plentix’s core value proposition is centered on the development of a stable, scalable, reliable and distributed platform for the referral economy. Therefore, Plentix anticipate to allocate at least 30% of the funds raised to support and pay for our development efforts. The second biggest spend in our fund allocation is business growth, marketing and communications (marcomm).

Plentix allocate 35% of our funds for this activity, as the importance of marketing a referral platform is not to be underestimated. The remaining 35% of the funds will be allocated to cover operations, legal, compliance, internal audit controls and team compensation incentives. Plentix anticipate having our first services deployed in the market within 8 months.

In terms of timing, our pre-sale activity is going to last for 2 days. Plentix anticipate reaching out to selected accredited investors to participate in Plentix and purchase PTN with 30% bonus for the pre-ICO. Plentix will also have a referral program in the pre-ICO with bounties for up to 5% of the allocated PTNs.

Then, Plentix plan to have a 1 week ICO sale event where Plentix will introduce some more incentives for early investors: a 30% discount will be offered to those who purchase PTNs in Pre-Sale.

Plentix also do not allow discount aggregates, or discounts to carry on from week to week. Plentix reserve the right to end the sale if all PTNs are sold before the designated end of the ICO. Plentix plan to burn the unsold PTNs. However, to ensure Plentix have minimum resources to run the project and deliver Plentix will reconsider our position in the unlikely event that Plentix fail to sell at least 70% of the PTNs available.
In such an event, our options would be to return funds to investors, re-run the ICO with different terms providing liquidation option to existing PTN holders or even putting the project on hold. It all depends on the community traction and vote of confidence. Plentix is very much a community and social project, and as such Plentix aim to have the maximum possible community participation.

Plentix will also apply a limit on the number of PTNs one can purchase at any point in time. Plentix will apply a cap of 100-Million PTNs for each address to ensure fairness and opportunity for grassroots investment