ST. JULIAN, Malta (PRWEB) January 19, 2018
RefToken, an affiliate marketing platform designed to connect merchants with affiliates, will now be selling its cryptocurrency on OKEx. The digital currency exchange will begin selling REF on January 17th at 16:00 Hong Kong Time, expanding the number of potential RefToken users dramatically.
RefToken was created to bolster the affiliate marketing industry, which is currently plagued by information asymmetry. At present, merchants who want to engage in affiliate marketing must rely on intermediaries, who will identify potential affiliates, vet them, and monitor them over the course of their relationship with the merchant in question. This process is expensive and highly inaccurate, which is why RefToken seeks to eliminate the intermediary entirely. Instead, it provides a platform where merchants and affiliates can connect with each other directly, limiting the cost and trouble of this marketing method.
REF, RefToken’s official cryptocurrency, plays a key role in this process, ensuring that affiliates and merchants honor their contracts without an intermediary to monitor them. By selling this token on OKEx, RefToken will be able to expand the number of merchants and affiliates who use the platform. This will give both groups more options, allowing them to make the most of this bold new affiliate marketing model.
An Overview of OKEx
As one of the world’s most popular platforms for trading digital currencies, OKEx is a prime market for any cryptocurrency venture. OKEx recognized the value of Bitcoin and other digital tokens that took advantage of blockchain technology, providing a place to trade them from an early stage. In constructing this trading platform, the company brought together an expert team, with specialists who had worked with Huawei, Tencent, Alibaba, and a variety of other advanced and highly successful companies.
Trading a cryptocurrency on OKEx is highly valuable on multiple levels. In the short run, each company that trades there gains access to a vast and expanding market of potential buyers, allowing them to raise funds quickly and gain new participants for their venture. Farther down the road, trading on OKEx benefits such companies’ reputations. Because the platform is so well known and so highly respected as a center for exchanging digital money, any company that trades there benefits from being associated with it. Thus by making REF available on OKEx, RefToken hopes to boost both its reputation and its customer base in one fell swoop.
In order to understand the full benefits to RefToken of trading on OKEx, it’s necessary to consider what this company is trying to accomplish. RefToken seeks to connect merchants and affiliates for marketing projects without relying on intermediaries. If successful, this venture will be able to:
Cut Costs- Intermediaries who find, vet, and monitor affiliates often charge exorbitant rates for their services. This adds substantially to the total cost of affiliate marketing, making it prohibitively expensive for many companies. If RefToken can eliminate affiliates while still providing the same information that they gather, it has the potential to make affiliate marketing significantly more affordable and accessible.
Improve Security- While intermediaries are hired to improve security by providing merchants with quality information, they create security risks in their own right. Such individuals gather valuable data about both merchants and affiliates, which they could let fall into the wrong hands. RefToken avoids this problem by eliminating the human weaknesses of intermediaries while storing information in a secure blockchain.
Speed Up Service- Even the most reliable, honest intermediaries take long periods of time to vet and approve each affiliate for their clients. This slows down the marketing process and makes it harder for companies to adjust their PR strategies in response to new events. RefToken seeks to connect affiliates and merchants in a matter of seconds.
In order to provide such swift, secure, and affordable services, RefToken has created the REF currency. Merchants must buy this currency in order to use the platform; this ensures they always have enough money to pay their affiliates. As a result, affiliates can be confident that they will be paid for their services, making them more likely to honor their end of the contract and contribute to an efficient platform.
Besides improving security and efficiency, REF gives both merchants and affiliates a vested interest in the success of the platform. The more people want to use RefToken, the more demand there will be for tokens, increasing the value of the currency for those who already hold it. Merchants and affiliates can thus increase their wealth by getting more people to use RefToken. This encourages them to invite others to the platform, as well as to do business there as honestly and fairly as possible.
Selling REF on OKEx has the potential to attract more of both groups. As one of the largest cryptocurrency exchanges on the market, OKEx can drum up interest in the platform from merchants and affiliates all over the globe. It will also make it easier to trade REF for other currencies, leading more people to bid up the price of the currency and increase value for those who already own it. Once the tokens go on sale, RefToken will likely gain a steady supply of users for the long haul.