Ripple recently announced a new accelerator program for commercial and enterprise companies that are willing to join RippleNet. The rewards, funded by the $300 Million in XRP from Ripple’s holdings, will be based on volume rebates and an adoption marketing incentive.
Quite an interesting concept, the Volume Rebate will provide license and integration-fee rebates to RippleNet members as and when they reach integration and volume milestones within certain deadlines. These rebates depend on the volume processed and could cover anywhere between 50 to 300 percent of the integration fees and first year’s license fees.
Aimed at accelerating the adoption and usage of Ripple solutions, the rebate will be available in XRP or USD. The team further adds that the customers willing to receive XRP for the rebate will have selling restrictions. Such a restriction is quite profitable in the long run as it will prevent the market numbers from going wild.
A similar strategy was employed by PayPal for promoting their early day adoption and referral bonuses. Referral method has proven to attract more users onto the platform. Since the incentive is in XRP, the network is anticipating an added benefit of building an easy on-ramp for institutions to use XRP in their payment flows to lower liquidity cost in the future.
The test phase of XRP incentives has received a very positive early reception, as stated by Ripple.
This program will match the marketing costs for eligible customers who promote Ripple solutions to their customers. In order to assist with the marketing efforts, Ripple will avail tailored marketing content, messaging frameworks and tools that will reduce their customer’s total costs.
The incentive is based upon a first-come, first served basis and can be earned through XRP or USD. The selling restriction pertaining to XRP applies here as well. Notably, Paypal was really popular in its early days for such programmes and it did boost their initial growth.
Not alone in such plans, Ripple might be reportedly joined by other evolving networks such as TRON and EOS, very soon.
Read more: Ripple (XRP) Is Not The Second-Largest Cryptocurrency, Claims A Crypto Research Firm
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