Introducing the Crowny Ecosystem

Crowny has prided itself on not simply offering services, but instead creating a user-friendly ecosystem. Let’s dive into the Crowny ecosystem and how it benefits all parties involved.

By
Ifeanyi Egede
on
May 11, 2021
Category:
Breaking News

The Crowny Community

Crowny has proven itself to be a community-first project that aims to improve both consumer and provider experience. The success of their initiative is backed up by interaction data; on May 7, Crowny announced that more than 1,000 users are staking over 17 million $CRWNY on AscendEX, with that figure representing more than 11% of their initial circulating supply. 

Source

Within the Crowny community, there is a Solana-powered loyalty system and a consumer app for easy access. This loyalty system is the basic building block for the platform's advertising portal and provides value for consumers and companies alike. Companies can use the loyalty system to include loyalty points into their businesses freely and easily. These 'loyalty points' help projects improve their engagement, acquire repeat customers and boost recognition for their brand. This loyalty system works by offering registered companies on Crowny customized, valueless tokens. These loyalty points are usually rewarded to users via encrypted QR codes, and can then be used in different use cases depending on the involved project.

Users can track their points by checking the loyalty menu within the Crowny mobile app. This loyalty system is a mint and burn mechanism which ensures that the total amount of points in circulation reflects the total supply of tokens available. 

The Crowny app is one of the ways Crowny gives users complete freedom over the advertising messages they receive and the frequency at which they receive them. Users can modify their preferences anytime. A side benefit of the app is a separate wallet for each of their earned loyalty points and $CRWNY. This direct access to the wallet allows users to convert their $CRWNY to fiat in a quick and easy exchange. Users can be rewarded with $CRWNY whenever they complete a Crowny task or receive a targeted message. Brands can drive engagements for their brands and reward active users through GPS triggers and QR codes.

Crowny Ecosystem

Crowny’s List of Partners in their Ecosystem

Crowny has partnered with many decentralized projects to provide their services to these platforms. This list includes financial backers such as Petrock Capital, as well as service providers such as DEX protocol AscendEX. As Crowny continues to increase the scope of their product, investors can expect more projects to join forces with the project. By offering targeted advertisements with scaling rewards based on interaction, Crowny is making steps toward innovating how businesses treat advertisements. Their specialized approach to bringing in new consumers will easily adapt across a variety of projects, meaning that their ecosystem is bound to only get bigger as time passes.

Roadmap/Updates

  • The Crowny team plans to release features that will add more gamification to the platform soon. The first of such features would be the introduction of NFT rewards for users. 
  • The team plans to release details about Crowny's LP staking programs in the near future.
  • $CRWNY holders can now earn up to 55% APY by staking their $CRWNY on AscendEX without using the app or being active with the loyalty program.


What Exactly is Crowny?

Source: About Crowny

Crowny is a platform that helps brands to achieve better targeting and provide relevant content to users. The protocol rewards fans who interact and engage constantly with brands that have opted to market with Crowny. User privacy is protected, while the offers they receive are determined by their chosen preferences. Crowny has focused on reaching out to other developers and forming a mutually beneficial ecosystem of partners, aimed at introducing cryptocurrency to traditional markets in a gradually-growing manner.


Closing Thoughts

Crowny is using the platform's app to get more brands and users acquainted with cryptocurrency in a user-friendly manner. As cryptocurrency becomes fully adopted into the ecosystem, Crowny aims to ease user apprehension through their introductory loyalty system. Traditional loyalty programs could gradually become obsolete as the popularity of Crowny's decentralized loyalty program continues to rise. 

Solana News has planned an AMA with the Crowny team on May 20th. For more details, keep tabs on our Twitter page!

For more info on Crowny, check out their Twitter, Linkedin, and Telegram channels.

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Ifeanyi Egede

Ifeanyi Egede is an experienced and versatile crypto writer and researcher on fintech, the blockchain and emerging technologies. He has several published works online and in the print media. He loves reading, research, traveling, meeting people and football. When he is not writing, he spends time with his lovely wife and kids.