PhoenUX aims to turn loyalty program points into tokens (Tokenization as a Service, TaaS). Offering rewards or points in the form of PUX tokens greatly reduces the operating costs for loyalty programs and provides an opportunity to acquire new consumers through cross-selling and upselling of programs. PhoenUX will connect partners and consumers from all over the world with PUX as the intermediary, allowing consumers greater flexibility in spending their loyalty rewards.
“BrightNode’s contributions to our project were instrumental in getting our product design nailed down. BrightNode spent an enormous amount of time helping us develop the tokenomics for PhoenUX and the PUX Token. We were able to converse and exchange ideas with the team at BrightNode that shaped our product roadmap and really helped us to better understand our customer base. We look forward to continuing to work with BrightNode.”
The client | PhoenUX
PhoenUX is an ecosystem that tokenizes loyalty rewards and creates access to billions of dollars currently locked in loyalty programs. PhoenUX synchronizes economic incentives between corporations and their consumers.
The ecosystem consists of:
- PhoenUX Token (PUX) : By converting rewards points into PUX Tokens, not only can PhoenUX partners slash costs associated with redemption, but they may also have residual revenue.
- The PhoenUX Application: The wallet for all loyalty programs. Users can track their rewards, exchange them for PUX tokens, trade across loyalty programs, transfer rewards to other users, purchase products and services, or exchange their rewards for cash.
- PhoenUX Xchange: The PhoenUX Xchange allows users to seamlessly convert loyalty points to PUX tokens and either trade them within the ecosystem or migrate them externally to their established wallets and exchanges.
- API/SDK : API/SDK allows partners and developers to integrate all of the PhoenUX ecosystem benefits into their existing platforms without interfering with existing operations.
If you are looking for professional guidance, then be sure to check out the Tokenomics Consulting offered by BrightNode!
BrightNode’s contribution
BrightNode supported PhoenUX through the following activities:
- Developing the token economy design
- Proposing solutions to incentivize companies using PUX tokens
- Creating a dynamic token supply and minting process
- Token flow architecture in a hybrid ecosystem (traditional loyalty points and tokenized points)
- Inflation management recommendations
- Implementing tokenomics into a White paper
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