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Checking In: Checking in jumpstarts the Superlocal ecosystem effectively because users earn X $LOCAL per approved post. Once the token is priced, we will peg earnings to a USD value. For example, users may earn $1 USD worth of LOCAL per approved checkin.
We will also examine if it makes sense to reward users with some amount of $LOCAL based off of reactions on their check-ins as an extra incentive to invite friends. It will be important to deeply think through how rewarding engagement could alter the authenticity of content on Superlocal — we don’t want Superlocal to become another purely performative social network.
Collecting Mayorship NFTs at Places: Users are able to collect a 1 of 1 NFT of the real-world places they go to if no one else has collected that location yet. Users want to collect 1 of 1 Mayorship NFTs because they will receive passive token bonuses when other people make approved checkins from their collected mayorships. Users can sell their mayorships at any time on marketplaces such as OpenSea.
Collecting Perk Drop NFTs: Businesses can create NFTs offering a variety of perks to the holders. Users can collect these NFTs, hold them to receive perks at the business, or sell their Perks at any time on marketplaces such as OpenSea.
Additional Activities and Ways to Use Tokens: We will continuously explore new ways to bring additional real-world value to $LOCAL through additional features. We need to meticulously build reasons to hold $LOCAL as long as possible to assist with token price appreciation. Some concepts include community events, a marketplace for goods/services, and crowdsourced social good projects.