We have made a significant update to the operating policy of the SocialGood Ecosystem.
We will continuously buy back SG from the market in order to reward SG to our users.
That means that the more you use the SocialGood App, the higher the value of SG will rise! This is our patented crypto buyback system.
① Always remember to open the SocialGood App before shopping for whatever you want on the sites you normally shop at (install the Chrome Extension to shop on your desktop computer).
② The sites pay us advertising fees, and we use those profits to buy SG from the market (“buyback”) and give the SG to you.
For example, if you buy a $1,000 laptop from a partnered site like Best Buy or eBay via the SocialGood App, we will give you back $100 worth of SG for free. (We will spend $100 to buy the SG from the market to give to you.) By buying SG from the market to give to SocialGood App shoppers, we will add to the buying pressure (demand) for SG.
So, every time anyone – including you – stop by the SocialGood App or extension before shopping, the price of the SG that you already hold will rise higher and higher.
Currently, approximately 83% of SocialGood App users are taking advantage of the staking bonuses (up to 15% APY) by holding their SG for the long term without withdrawing into their connected wallets.
In order to maximize profits for this large majority of our community members, we have decided to commit our efforts to the long-term price increase of SG by continuing to buy SG from the market.
Check out the recent SG/USDT chart. You’ll see that the price of SG is rising because of our buyback program.
The more people shop via the app, the more SG we will buy from the market, so be sure to encourage people in your community – friends, family, coworkers – to join you! (You’ll get a referral bonus for every new shopper you bring to the app too.)
There are over 2.3 million people who have downloaded the SocialGood App, but there are still many who do not understand this system. It’s up to you to help spread the word and explain it to them, on your social media profiles and in app reviews.
Now, we’ll explain the background behind this update and the mechanism of this system in more detail.
Advanced SocialGood community members, this is for you, so definitely give it a read!
The price of all cryptocurrencies, including SG, fluctuates according to the balance of supply and demand.
In other words, if there are more buyers than sellers, the price will rise.
Therefore, we have a patented ecosystem that reduces selling pressure and increases buying pressure using the following stabilization initiatives.
(1) Buyback: We buy back SG from the market using part of our revenue.
(2) Membership: We create demand for SG by offering special benefits to members who continue to hold a certain amount of SG. For example, members receive higher crypto cashback rates and exclusive staking bonuses.
(3) Pay with SG (planned): We plan to enable SG payments at everyday stores through services like PayPal.
(4) Original Content (planned): We plan to offer exclusive original content that can only be purchased with SG. This is expected to increase the demand for SG.
(1) Staking & Membership Level System: Users level up depending on the amount of SG they hold, earning a staking reward rate of up to 15% APY. Through staking bonuses, we provide an incentive for community members to hold SG for an extended period of time.
(2) Withdrawal Limit: We limit the amount of SG that can be withdrawn from the app within a certain period of time while the SG price is low. Specifically, we only allow users to withdraw less than the amount we buy back, sustaining a rising SG price.
*Withdrawal restrictions may be eased or eliminated completely, depending on factors such as an increase in our revenue, sufficient buying demand in the market, and the amount of staked SG increasing through the membership level system. Our ultimate goal as a company is to reduce restrictions as much as possible and provide an easy-to-use app to our users.
With the initiatives described above, we are sustaining a state where the demand (buying pressure) is continuously stronger than selling pressure. This promotes a rise in the SG price and ecosystem growth.
In the past, there was no distinction made between committed long-term SG holders (83% of app users) and those just looking for short-term gains (17%).
However, we have now changed our policy to prioritize users who contribute to the long-term growth of the SocialGood Ecosystem.
The rising SG price originates with our company’s revenue growth. And the rise of the SG price will profit everyone who continues to hold SG.
Therefore, we have introduced a system that rewards SG to users who contribute to the overall ecosystem.
Specifically, only active users who have shopped recently via the app or Chrome extension will be able to withdraw their SG.
This makes the system more fair, allowing the users who continue to contribute to the ecosystem by shopping via the app to obtain SG and profit.
Going forward, we will continue to implement measures that benefit users who hold SG for the long term, but some restrictions will be imposed on users who sell SG in the short term.
For example, users who want to withdraw large amounts of SG at once will be charged higher fees. However, these restrictions may be eased as the ecosystem grows and the SG price rises.
All of this is being done to ensure that long-term SG holders will benefit the most in the future.
(UPDATE) This system is now live as of July 31! See this article for details: New Withdrawal System for Contributors
Finally, we will use a mathematical equation to describe how the SG price grows sustainably within the SocialGood Ecosystem.
The total amount of SG in the market is M, and the amount of SG given out to app users via withdrawals is W.
The SG that we (SocialGood, Inc.) buy back from the market is B, and the SG newly bought by crypto investors in the market is S.
For example, let’s look at the supply and demand in a given month.
The amount of SG bought in the market in a month (buying pressure, BP) is B + S.
The amount of SG sold in the market in a month (selling pressure, SP) is (M x secondary-market “selling rate”) + (W x app user “selling rate”). This can be expressed as (M + W) tokens × “selling rate”.
The “selling rate” is based on the of SG holders. It will decrease if the future value of the SG is expected to rise, and increase if the future value is expected to fall.
When the buying pressure, BP, is greater than the selling pressure, SP, the price of the SG tends to increase.
Now, imagine a situation where BP is higher (meaning, there is more SG being bought).
BP = B + S.
The amount of B increases as app users shop more via the app, which increases our sales revenue and therefore the amount of SG we buy back.
Also, users must buy and hold a certain amount of SG in order to gain higher crypto cashback rates in the app.
Therefore, S (the amount of SG newly purchased from the market by investors) tends to increase as SG and the SocialGood App become more widely known.
In other words, BP may increase as the number of SocialGood App users increases.
Next, consider the conditions where SP decreases (meaning, there is less SG being sold).
SP = (M + W) x “selling rate”.
M will constantly decrease because we always buy back more than W (this is an important point!).
This is accomplished by our careful management of the withdrawal limits, always maintaining W below the amount we can buy back from the market.
W is managed so that the amount will decrease when the SG price falling, and increase when the SG price is rising.
So, what would be the economically rational thing to do, for those who understand the mechanism of how W is limited and M will automatically decrease?
As the amount of SG circulating in the market decreases, the price tends to rise, so more people will hold SG for the long term with the expectation that the price will rise in the future.
Similarly, as more and more people begin to deeply understand this, the more SG holders will keep their W in their wallets long-term to receive staking rewards, decreasing the “selling rate” among app users. This how, as users increase their understanding of the SocialGood Ecosystem, the selling rate will drop and SP will decrease.
In order for community members to maximize their own profits in this ecosystem designed as described above, it is important to take the following actions.
(1) Whenever you shop online, stop by the SocialGood App or Chrome Extension first to earn free SG.
(2) Start growing your stack by holding SG and earning staking bonuses (the more SG you hold, the higher the interest rate).
(3) Invite your friends to join the app and teach them how the ecosystem works.
-As your friends shop via the SocialGood Ecosystem, the company’s revenue increases, which increases the amount of buybacks
-You will earn bonus SG for every successful invitation
-Once your friend understands the ecosystem too, they can profit with you
(4) When the ecosystem has grown enough and the value of the SG you hold is high enough, exchange your SG for cash or other crypto
(As the ecosystem grows, withdrawal limits will be eased, so rest assured.)
With the SocialGood Ecosystem, you do not need to spend any investment money to join, and you can automatically grow a large stack of assets just by shopping as usual.
Currently, the majority of people worldwide do not own any assets.
Our mission is to create a society where all people can easily become asset-owners, reducing economic disparity in the world.
That is why our project is called the SocialGood project, our app is the SocialGood App, and our token is SocialGood (SG).
Official Website: https://socialgood.inc/
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 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.