7-2. Point function

GET platform introduces ‘point function(GET point)’ to improve the user experience, system efficiency and stability of the token ecosystem, in addition to using GET directly.

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◆ Purpose of introduction

The introduction of GET point function has the following objectives.

• Improved user experience

Simplify and avoid Gas fee: Token transactions on the Cardano chain require a gas fee (ADA), but users in the entertainment domain often lack blockchain expertise, so the concept of a gas fee can be a barrier to use. By introducing GET point, the gas fee is processed in a batch when converting from GET to GET point. This allows users to purchase goods and services by GET point without worrying about the gas fee.

Realization of immediate payments: Whereas normal blockchain transactions can take seconds to minutes, internal payments by GET point can be processed instantly. Speedy completion of purchases at live venues and in the metaverse, providing a smooth payment experience.

Secure feeling with fixed exchange rates: Token prices can be fluctuated widely due to market trends. Converting GET into GET point stabilizes their value, and provides a system that can be used with peace of mind.

• Ecosystem stability

Ensuring GET stability: While users are spending GET points within the platform, the GET itself is locked inside the platform. This reduces short-term selling pressure on the token and improves market price stability.

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◆ Structure

GET platform uses a mechanism to convert GET into ‘GET points’ inside the platform. This mechanism has the following features.

• Token conversion function: GET can be converted into GET point on a dedicated screen in the platform. Each GET is converted into 1 GET point.

• Gas fee payment option: Gas fee (ADA) are required to send GET or convert into GET point. GET platform offers a option to choose GET for the gas fee payment.

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◆ User experience flow

The specific user experience for point conversion and point usage is shown below.

1

Select ‘Convert to GET point’

Log-in to the platform and select ‘Convert to GET point’ on the dashboard.

Move to point conversion screen and it displays current conversion rate (e.g. 1 GET = 1 GET point).

2

Input GET quantity to be converted

User enters the quantity of GET they want to convert.

E.g. When 10 GET are converted, 10 GET x 1 = 10 GET points will be added to user's point balance.

Processing of gas fee: ADA or GET will be consumed as gas fee.

3

Selecting where to use point

・Purchasing goods and services within the platform

　E.g. live tickets, limited physical goods, digital items in Metaverse.

・Social tipping and donations

　E.g. Send points in support of artists and creators.

・Fan clubs and subscriptions

　E.g. Pay for project or artist subscriptions with points.

4

GET point consumption

When a user purchases a product or service, points are consumed and the following processes take place.

・Immediate completion of payments: 　Update GET point internal ledger for faster payment processing, without getting involved 　with delays in on-chain transactions.

・Recording of point consumption history: 　Record point consumption history (e.g. date, time, service name, number of points 　consumed) within the platform and link to a service that evaluates the consumption history.

・User incentives: 　Specific promotions (e.g. partial refund of purchase points, exclusive NFT gift based on 　purchase amount) encourage users to actively participate the ecosystem.

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