Loyalty point programs are snowballing. The ability to earn additional rewards and benefit from a consistent commercial activity is an attractive proposition for both purchaser and business.
One of Reddit’s requirements for the bake-off (albeit listed as a bonus) is for users to be able to exit to Ethereum in a “fast & simple” manner. While fast exits are on the way, they only work with liquidity providers. But how would you find a liquidity provider for points that were directly minted on OMG? Would it be possible to have a smart contract on Ethereum that holds a portion of minted tokens and provides liquidity for exiting users?
No matter what industry you’re in, product development boils down to one thing: finding the best, simplest, and most feasible solution to a problem. At OMG Network, we adopt the same philosophy. But because we work on the foundational layer of financial software, moving too fast can have dire consequences for end-users.
We founded OMG Network with the vision of enabling open finance services that are fast, cheap, and secure. We see that innovation will need to occur both at the infrastructure and application layer for this to happen. Our bread and butter product, the open public OMG Network, is a Layer-2 Ethereum scaling infrastructure which builds on our business and domain expertise of payments.
Last week we launched the Community Points Engine (CPE) in response to Reddit’s Scaling Bake-off challenge on our new subreddit, r/omgnetwork. Post-launch, we asked our community if they had questions regarding the extension in a live AMA. Here’s a compilation …
- Page 1 of 2