To all SocialGood App users-
The previously-announced Membership Activation system has begun as of November 11, 2022, with the objective of increasing the demand for the SG token.
Membership can be activated simply by staking 200 SG that you have purchased with the Coinbase Commerce feature in the SocialGood App.
This means that as of today, unless you hold 200 SG in your wallet connected to the SocialGood App, you will not be able to:
・Withdraw your SG
・Earn your staking bonus
・Have your new “Pending SG” become “Approved SG” after the partnered site verifies the purchase
・Earn your referral bonuses after inviting friends
We have another important announcement:
We have made SG exchangeable on the Polygon chain, so the gas fees for withdrawing SG are close to zero! You can now withdraw more easily, without worrying about paying the high gas fees.
First, open up your app, and check how much SG you are holding in-app, and how much you currently receive as a staking bonus.
We have announced this update many times in in-app announcements and email newsletters, but let’s go over the purpose of the Membership Activation update once more.
As you know, SG is a limited-issue token with a maximum supply of 210 million coins. The introduction of this Membership Activation system is an improvement to the token ecosystem in order to make the SG you are holding become more valuable. Please see this video for a more in-depth explanation of this mechanism:
To learn more about the background behind this update, please see this article from CoinDesk:
Shop2Earn: The Benefits of the SocialGood App
To learn more about the growth strategies of the SocialGood App, check out this interview with the founder/CEO of the SocialGood project:
SocialGood App – Handing Out $100s: The Ambition of a Shop-to-Earn App’s Founder
So, would you like to continue withdrawing your SG, earning referral bonuses, and getting 100% Crypto Back every time you shop at selected sites?
By popular request, we have decided to extend the 100% Crypto Back campaign for a full year, until the end of November 2023! During the upcoming Christmas and holiday season, many sites hold special sales, but now you can buy everything you want with 100% crypto cashback, essentially getting it for free!
You will earn 100% back of what you spend shopping, up to $1,000 per purchase, an unlimited number of times!
During the next full year, you can buy everything you want for essentially no cost.
Think about much you usually spend shopping online in one year.
For example, let’s just say you spend $1,000 shopping online in one year.
As of the time of writing, 1 SG = $0.05, so 200 SG is $10.
Therefore, you would earn $1,000 in SG for free just by staking $10 worth of SG.
We also are releasing a new feature that allows you to purchase SG easily in the SocialGood App. This makes it simple to purchase the required 200 SG as your Membership Access Pass.
In addition, we have decided to extend the $100 Referral Bonus campaign until the end of January 2023.
As you know, the withdrawal limit is set to allow more withdrawals when the SG price rises or when SocialGood App users are increasing. That’s yet another reason to refer your friends and family to register on the SocialGood App.
*The 100% Crypto Back reward campaign is only available to activated Members who are staking 200 SG in their connected wallet.
We also will provide the option for Members to remove the current withdrawal limit, so please check back after activating your Membership for more details.
To activate your Membership, you will first need to purchase 200 SG through the SocialGood App and hold it in your connected wallet. Don’t worry, you will earn a staking bonus of up to 15% APY on that 200 SG as well.
Please note that only the SG that you have newly purchased with the Coinbase Commerce feature in the SocialGood App will be counted as your 200 SG for Membership Activation.
When you purchase the 200 SG in the app, you can select which network to make the transfer on. The default network is Polygon (MATIC). With the Polygon chain, your gas fees will be about 1/100 of the fees on the Ethereum chain.
Go ahead, open up the SocialGood App, and follow the directions to activate your Membership now.
Remember, SG is a limited-issue token, with a maximum supply of only 210 million SG.
There is a possibility that the price of SG will suddenly skyrocket as all of the SocialGood App users purchase 200 SG for Membership Activation, so we recommend that you purchase SG in the app as soon as possible
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
The New Membership Activation System
How to Buy SG with the Coinbase Commerce Feature in the SocialGood App
Choosing a Network for Buying SG or Withdrawing SG
Precautions About Purchasing SG with the Coinbase Commerce Feature