Users can use SIGN to redeem for items such as hardware wallets and such. The items available to users are based on their current tiers, with higher tiers being able to redeem a larger variety and exclusive items. The cost of every item will not be fixed and is subjected based on location as well. The SIGN used to redeem items will similarly be collated into a single wallet to be used for community projects to help sustain the economy.
Each tier will only be allowed certain access to the items to the SIGN Marketplace as stated in the table above. The higher the tiers, the more access to better valued items on the SIGN Marketplace. All users can see the items on the SIGN marketplace regardless of tier except for the Exclusive Access items. This is to encourage users to be more involved and active in the community.
In order to encourage user interactions, there will be voting competitions held for users to suggest and vote for what item they would want to see in the redemption shop. There will be terms and conditions in place when suggesting items to safeguard users. Users will have to use SIGN to put out their suggestions which creates a pool that other users can vote for. Each user can vote for multiple options but have a limited total amount of SIGN they are allowed to use to vote. Users can obtain more voting limits by doing certain tasks on the platform.
In order to propose an item, the user has to have all the required information with regards to the item such as brand, model number, price and etc. The user then has to use a certain amount of SIGN (eg. 1000 SIGN) to create the pool. If the user does not have the amount required, the user can choose to open up the pool to more proposers. In this case if the pool is awarded at the end of the voting process, each proposer who contributed to the creation of the pool will be awarded based on the percentage they contributed to the creation of the pool but if the original proposer has enough to create the pool themselves, they will be given the full rewards. If the pool is created but does not hit the required amount of SIGN within 24 hours, the pool will be dissolved and the SIGN given back to the respective users.
Using the information provided during the pool creation, duplicates of the same item can be prevented. In the rare case of duplicates, it will be based on the first come first serve basis based on the time the pool is created.
The user or users with the most voted suggestion will be awarded a percentage of SIGN based on the pool created. The users with the second and third most votes will be allowed to create their pools with the same item again in the next voting for free if they want to and will also be awarded a certain percentage of SIGN based on their pools created. In the case for multiple proposers for second and third, the user with the largest percentage of SIGN during creation of the pool will be given the right. The rest of the SIGN will be collated into a single wallet to be used for community events to sustain the economy.
Item redemption and item proposal are subjected to terms and conditions such as location, feasibility and availability for the item.
