To the SocialGood App User Community:
Thank you for shopping with the SocialGood App.
As the world’s largest Shop-to-Earn app, the SocialGood App has over 2 million users and has given shoppers $50 million in rewards.
We have received many requests from SocialGood App users to increase the value of SG as an asset.
In order to meet this request, we plan to implement the following update.
We are still in the process of making the necessary adjustments, so the exact date of the update is still unconfirmed, but we would like to let our SocialGood community know that we plan to implement this update by the end of October 2022.
(Update on Nov. 4, 2022: the update has been slightly delayed, but is still planned to begin shortly.)
SG will be a Membership Access Pass to Use the SocialGood App
We are currently holding a limited-time campaign rewarding shoppers with 100% Crypto Back rewards every time you shop at selected major sites including eBay, Shopee, Lazada, AliExpress, and more, up to $1,000 per purchase, for an unlimited number of times. (This campaign is scheduled to end on Oct. 31, 2022, however the schedule is subject to chance without prior notice and the campaign may end before that date.)
After the Membership Activation update, users must be staking a certain amount of SG in order to enjoy the Shop-to-Earn benefits.
Remember, you can sell/trade your staked SG whenever you want. The SG tokens are not locked or taken from you. We will announce more details about what those who are staking SG will be able to access, and what those who are not staking SG will not be able to access, on the day of the Membership Activation update.
You will also continue to earn a staking bonus of up to 15% APY on all of your staked SG. The more SG you hold, the higher the reward rate will be, so we recommend that you stake as much SG as possible as a hedge against rising inflation.
Merits for Users
In short, we can expect the value of SG to increase as all of the SG holders become visible on the blockchain, fueled by this positive growth cycle:
Growing popularity of the SocialGood App
SG must be held long-term to use the SocialGood App
Demand for SG rises
The SG price rises
SocialGood App gains more popularity, as it gives out free SG just for shopping as usual
See here for more detailed calculations:
How Token Prices are Determined
(CoinDesk) Shop2Earn: The Benefits of the SocialGood App
Of the 5 billion mobile device users, market research shows that 55% seek cashback or rewards when they shop online, and 2% would want to receive those in crypto. As crypto adoption expands globally, this is predicted to increase to 20%. This would amount to a target user base of 550 million people for the SocialGood App.
You are one of the first 2 million people to join. As an early adopter who joined this token ecosystem, we want to support your growth as well as the growth of the SocialGood project.
Download for iOS: https://socialgoodapp.page.link/referral-ios
Download for Android: https://socialgoodapp.page.link/referral-android
Chrome Extension: https://chrome.google.com/webstore/detail/socialgood-crypto
How Can I Make Sure to Get SocialGood When I Shop in the App? Shopping Tips!
How Can I Install and Use the SocialGood Chrome Extension?
The SocialGood (SG) token is a utility token. SG is not a security, just as real estate and gold are not securities.
The description above does not refer to the nature of SG in any way. The appreciation/price increase of SG is not guaranteed.
The Company is not responsible in any way for the fluctuation of the price of SG. The Company is not liable for any loss/damage/injury of customers in relation to SG. The description above is not intended to solicit investment. The description above is only for the purpose of providing general information for customers. The description above may change without prior notice and the Company is not responsible for the current description and for updating the description.