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Higher Withdrawals, Zero Fee (July Update Pre-Release Announcement)

230707 Bloghero SG Withdrawal Amount Increases

Dear SocialGood Ecosystem participants:

We are pleased to inform you about the withdrawals update that will take place in July 2023.
Essentially, all users will be able to withdraw more SG from the SocialGood App.

・Current System (as of July 5, 2023):

Immediate Withdrawals: All users can withdraw a small, fixed amount (limit depends on user)

・After the July update (not yet released):

Regular Withdrawals: Everyone’s maximum withdrawal limit will be increased according to their total shopping amount via the app in the past 30 days, so each user will have a different maximum amount. The more you shop, the more SG you can withdraw, so the sky’s the limit. Everyone can withdraw this amount immediately, without waiting.

Contributor Withdrawals: This is an exclusive option only for users who have contributed to the SocialGood Ecosystem to take out more SG than the Regular Withdrawal limit. For this withdrawal option, the order of priority is based on how much the user has contributed to the ecosystem.

(newly-added information) In addition, to commemorate this new update in the app, we will be offering ZERO-FEE withdrawals during a limited campaign at the time of release! (For both Regular and Contributor withdrawals)

To increase your Regular Withdraw amount, you’ll need to shop through the app.
To support even more shopping, we restarted our special 100% Crypto Back campaign at all stores yesterday.
This campaign is subject to close without prior notice when the maximum number of participating members is reached.

See this article for more: Members-Only 100% Crypto Back Returns, SG Price Doubled

Those who choose the Contributor’s Withdrawal will be able to withdraw faster in order of how many new users they have invited to the SocialGood Ecosystem.

The total Contributor Withdrawals and Regular Withdrawals  each month is the SG Buyback Pool total. The SG Buyback Pool uses up to 50% of our sales revenue to buy back SG from the market.

This system ensures that the price of SG does not fall, because it allows us to buy back all of the SG that is taken out of the SocialGood App. In fact, in June the SG price rose by +101%.

Instead of having everyone withdraw the full amount of SG they hold in the app immediately, we carefully manage the amount of SG in the market, to increase the SG value and provide long-term, sustainable benefits to all SocialGood Ecosystem participants.

That is why holding a 100% cashback rewards campaign now does not lead to an increase in SG selling pressure and a collapse in the SG price (like in the past).
On the contrary, the 100% Crypto Back increases the amount of in-app purchases, which increases the buyback amount, which increases the SG price.
In fact, the day we announced the 100% Crypto Back campaign, the price of SG skyrocketed. It seems likely that people who understood how this system works bought more SG.

This is an update to the SocialGood tokenomics from June 2023.
More details: Patented Crypto Buyback System Begins

Shopping SG Price Buyback

In summary, here’s how the SocialGood Ecosystem works.

The more you do your usual shopping via the SocialGood App:
・The more SG you will earn, and the more SG you can withdraw from the app
・The price of SG will rise
・As a result, your assets will become more valuable (SG amount x SG price = your assets)

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