Non-Monetary Awards
Creating and managing non-cash based awards
Overview
There are two types of non-monetary awards: units and funded units. Both can be configured to fulfill a wide variety of use cases such as points, credits, tokens, or bonus pools.
Units: these are non-unique, generic stores of value that can be used for both redemption, or to track progress. Examples include credits or points that a user can redeem for merchandise or other benefits within your platform's ecosystem, or points that track progress towards goals.
Funded Units: These awards are able to be ‘funded’ by creating a funding pool associated with the award. When a user holds funded units and there is an associated funding pool, a user is entitled to a payout from the pool proportionate to the total amount of funded units they hold. See Funding for more details.
Use Cases
Points: A non-monetary, point which tracks towards some other benefit or event
User accumulates points that track progress towards status or benefits in loyalty program
User accumulates points that track progress towards cash bonus
Redeemable Points: A non-monetary, point that can be redeemed for some monetary or non-monetary Award by the user
User accumulates points that they redeem for credits in app
User accumulates points that they redeem for swag
User accumulates points that they redeem for in ecosystem benefits
Credits: A form of redeemable point that can be exchanged on platform for the equivalent cash value goods or services
User receives a $10 credit towards their next purchase
Tokens: A generic representation of value that can be used in a variety of contexts
A user receives 5 tokens for participation in a protocol’s validation
Expiration Periods
All types of non-monetary awards can have optional expiration periods, either rolling, bulk or both.
Rolling expiration means any award issued expires a defined number of days after issuance. For example, if a user has 1,000 Star Points with a 30-day rolling expiration window, each point will expire 30 days after it was received.
Bulk expiration means all awards of this type held by a user expire after a defined number of days of non-activity on the platform. For example, if a user has accumulated $100 'Orange Credits' with a 30 day bulk expiration period, these will all expire if the user is inactive for 30 days, irrespective of when the user received them.
Both types of expiration period can be applied to the same award.
Creating Non-Monetary Awards
Non-monetary Awards
To create a non-monetary award, follow these steps:
In the Awards section, click 'New Non-monetary Award' (on the right of the page).
This opens the 'Non-monetary Award Creation' page.
Input the following details:
Type of Non-monetary Award
Choose between unit or funded unit
Short Description
A clear description of what purpose of the unit is (eg. a point, credit, token, marker).
Award Name
This will be a user-facing name unless it is overrided in the user dashboard configuration settings.
Award Short ID
The ID used to reference this Award.
Expiration Inputs
Choose rolling expiration (award expires after a defined number of days) and/or bulk expiration (all units expire after a certain number of days of inactivity).
Award Icon
Choose between default, create an icon, generate a unique image, or upload an image.
Default: the 'Default' option will assign a default icon to the award.
Create an Icon: select a desired icon, and specify the primary and secondary colors for the icon. If you wish to create a gradient effect, use different primary and secondary color inputs. You can also configure the line color for the icon.
Generate a Unique Image: generates a random, unique image to be used as the icon for the award.
Use your own Image: If you want to use a custom image as the icon for the award, select this option. It will prompt you to enter the URL of the image you wish to use. Ensure that the URL entered is correct and that the image is of appropriate size and quality to avoid pixelation.
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