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User Rewards
As a community-driven platform, Flambu rewards users for their contributions to the platform's growth.

Flame token rewards

As in any sharing economy platform the users bring in significant value with their content and good behavior, it is fair to reward them with part of the value captured by the platform. Up until now, all the traditional sharing economy platforms were created for profit and benefited mostly the platform owners and investors as they captured most of the gains.
At Flambu, we believe in a fairer model, which will not only benefit the platform owners, but also the community itself as the heart of the platform. With blockchain technology, it is now possible more than ever to make this idea a reality, to create a true sharing economy, where not only things are shared, but the overall value created is shared as well. It is the idea that evolves the users into stakeholders and aligns the motivations of a platform with its users.
The way that this evolution is brought to the sharing economy by Flambu is by creating a deflationary token called Flames on the blockchain, that will gain value with the platform’s success and a transparent distribution mechanism that will reward contributions that add value.

Rewards Distribution Mechanism

As in Bitcoin and other early use cases of blockchain, rewards are tied to the value added to the network, such as securely and trustfully verifying transactions, also in Flambu, the rewards will be distributed to the users proportionally to the value they create.
Users can earn Flame rewards by being active and adding value to the platform.
Initially, to bootstrap the community and incentivize early participants, the following actions will be rewarded with the corresponding number of Flames for each action:
  • Registration
  • Inviting friends (per registered friend)
  • Listing items (per verified item)

Action Based Rewards

The following table shows the initial Flame rewards distribution per each action that adds value to the platform:
Signing up with phone & email verification
10
Inviting friends (per registered friend)
10
Listing items (per item after item is verified)
5
Visiting app (per day to be claimed)
2
The rewards in the table above will be halved by a deflation mechanism each time when a threshold of transactional volume has been reached in the platform. The first threshold is set to $10K of transactions volume. Then each threshold will be 10x of the previous threshold.
For example, when the transaction volume reaches $10K, each user that signs up after that point in time will receive 5 Flames, and when the transaction volume reaches $100K, each user that signs up after that point in time will get 2.5 Flames, and so on.
As the platform grows, new actions can be added to the list and each action’s rewards amount may change either as a decision taken mutually by the community and the platform, or the deflation mechanism.

Transactional Rewards

In addition to the Action Based Rewards, when users enter transactions, 10% of the transaction value will be converted into Flames from the price at that point in time. At the end of the transaction, the two sides will be asked to give a review to each other in terms of stars, and the Flame tokens will be distributed back to the lender and the renter according to the following equations:
FlamesforLender=TransactionValue0.10.8StarsLenderRecevied/5Flames for Lender = Transaction Value * 0.1*0.8*Stars Lender Recevied/5
FlamesforRenter=TransactionValue0.10.2StarsRenterRecevied/5Flames for Renter = Transaction Value * 0.1*0.2*Stars Renter Recevied/5
To clarify, here is an example (for simplicity we are assuming 1 Flame = $1 in this scenario):
  • Alice rented Bob's VR headset for a week for $100
  • Everything was great and at the end of the rental the two gave 5 stars for each other
  • Alice will get ​
  • Bob will get
If one or both of the sides did not get a 5-star review, the remaining Flames will be burnt.
Note that, this mechanism incentivizes both users to give a review, and until both sides gave their review, none of them will receive their rewards.
Also note that, with the Transactional Rewards, users that get 5-stars, practically pay 0% commission, and each time there is a transaction Flame token's value is expected to increase (please refer to Flame Token Economics to understand the reason)
Last modified 1mo ago