In a rush? Check out the numbers and quick facts in 30 seconds.
ICO Facts: 500,000,000 tokens will be put for sale. Status: Pre-sale campaign will start around April 2018.
Token type: RGE Token, ERC-20 standard.
Initial token price: Floating price.
In a nutshell: A blockchain based platform for digital coupons issuance and acquisition that produce non-falsifiable, non-repudiable and unique usage coupons.
Editor’s Notes and Disclosure: The author holds no business stakes or dividends at the startup. This article is an informative one. Both the author and Decentral Magazine encourage our readers to seek advice from a financial advisor and do their due diligence before considering any investment.
Here is the picture, Paris (home to the Rouge Project we are discussing today) being currently under a heavy snowfall, you pack your luggage, some very basic stuff, and decide to go somewhere warmer for a couple of days.
Tenerife, here I come!
Let us, of course, assume that your hypothetical boss is cool enough to tolerate such thing without a notice period.. That you won’t be forced to resign, and go pack groceries for the rest of your life, at the convenience store down the road from your parent’s basement you now live in…
Next, you book a plane ticket, Uber to the airport, then board that plane. While sipping on that extra Jack Daniel’s sample bottle, the one the cute flight attendant you have been eyeing, secretly gave you, you decide to go through the onboard magazine.
Page 5, under the “Real story behind Kylie Jenner’s pregnancy”, you find a coupon in the small spot reserved for advertisements.
50% discount on single rooms, in some hotel in the Canary Islands!.. Man.. looks like Divine Providence have been keeping an eye on you.. You tear it off and not even bother to dig deeper into Kylie’s dumb pregnancy nor that flight attendant’s intriguing smiles.
The plane lands, your luggage comes in. Outside of the airport, trees of green, red roses too, skies of blue and clouds of white.. The great Louis Armstrong was right. What a wonderful world!
You Uber to the hotel address on your coupon (this time, it is reasonable to assume Uber operates in the Canary islands.. Come on! they are everywhere). Once there you enter the hotel with your suitcase, your backpack, and your tingly eyes all thinking of that luxurious room waiting for you at half the price.
Unfortunately, the old, seemingly mean dude at the front desk, tells you that your coupon is no longer valid.
As a result, you try to argue and raise your voice, while emphasizing on the fact the expiry date is due in three months or so. The guy gets annoyed with your French accent, poor English, and stubbornness. The rest, security guards kicks you out and roughs you up on that way out. To hell you and your “éclair” and “Camembert”, they say.
Next thing you know, you take your broken dreams, your scattered ego and now heavy luggage, to a walk of shame all the way to that Hostel you saw on your mobile Map. One bed in a 10 beds dormitory. You get lice the first night.. You get bitten by mutant mosquitoes or god knows what.. Half your stuff gets stolen.. 8 out of the 9 other people sleeping with you in the same dorm, spend that night snoring like motorcycles.. Well, that was obviously not the plan..
Now, the reason I am writing all of this is that the Rouge Project aims to solve this problem of repudiation, and double redemption -among others- of traditional coupon systems. Through a Blockchain based platform named the Rouge Network Protocol, the company aims to connect merchants, publishers and users in a frictionless and tamper-proof way. Let’s dig deeper.
The Rouge Project vision and mission:
To begin with, several studies -some of which listed in the Rouge Project whitepaper- report a booming coupon market. Studies show an increasingly growing coupon users base in the last five years and a consumer-driven shift towards digital coupons.
The company imagined the above-mentioned platform as a decentralized coupon platform connecting the main actors around the coupon ecosystem. Those actors being:
- Coupon “Issuers”: merchants distributing coupons for customers to offer a marketing privilege or a discount.
- Coupon “Publishers”: blogs or online magazine owners, that aim to monetize the audience. Through advertisements for marketing coupon.
- Coupon “Users”: the general public that sees in the marketing coupon an opportunity to discover and test some products with a discount or just redeem vouchers for some sort of services.
The company wants to address the issues of:
- Keeping track of issuance, ownership or redemption of billions of coupons stored in centralized databases, easily tampered.
- Double redemption and repudiation problems, very common in the current coupons ecosystem.
Therefore, the use of Blockchain technology can disrupt the whole concept behind digital tokens. As a matter of fact, smart contracts, and more specifically, the tamper-proof, immutable, frictionless, and secure way of conducting transactions on the Ethereum blockchain, can be a key element in the way we use digital coupons.
How does the platform work?
To understand more how the whole thing works, one should understand the concept of CPA (cost per acquisition), CPR (cost per redemption), and the three states an issued coupon passes through; namely Free, acquired and redeemed.
On the Rouge Network platform, the coupon “Issuer” will only pay for its advertisement when the coupon is either “acquired” (CPA) or “redeemed” (CPR) by a real and verified User.
The coupon “Publisher” will only receive a payout after a coupon has been acquired or redeemed by a real and verified User, referred by their blog or website.
A given coupon can only be associated with one coupon “User” at a time. Moreover, the User identity may change when a coupon is sold to another User on the platform. Hence, the digital signatures of all actors in the ecosystem enforce its authenticity, making it impossible to be repudiated.
The coupon lifecycle can be checked on the Ethereum Blockchain from the time of issuance to that of redemption or expiration.
At a given time following its creation by an Issuer, a coupon passes through three states:
- Free: issued, published but has not been acquired yet by a User,
- Acquired: the coupon is associated with a verified User identity,
- Redeemed: The User spends the coupon or voucher to purchase goods/services.
A coupon can only move from the “Acquired” state to “Redeemed” with the acceptance and proper signature verifications of both the User and the Issuer which prevents early repudiation or double consumption problems.
The Rouge Token (RGE) and the Token generation event
The RGE token is an ERC20 compliant token with a fixed supply of 1 billion tokens. The RGE token is a utility token that gives owners access to the Rouge Network protocol.
|Total supply||1 billion|
|First token sale||500 million|
|Reserve pool y+1||300 million|
|Reserve pool y+2||200 million|
|Unitary Price||floating price|
The ICO event will take place during the first quarter of 2018 (late March or early April 2018). The Company will put 500 million RGE token for sale to the public. This will help the company raise funds and develop the platform. However, the official website displays a demo version of the platform.
Last January, Decentral Magazine conducted an interview with Naira d’Arcollières, the founder of the Rouge Project, and Christophe Le Bars the Chief Architect. Here is a part where Mr. Le Bars speaks of the ICO event:
(Just FYI, I hate my own voice too)
It is worth mentioning that before the main token sale, some other ERC20 tokens called RGX, will be sold during short token public events or distributed during pre-sale agreements. These “voucher” tokens represent discount rights for holders during the RGE token sale event. RGX tokens have no use after the full distribution of the RGE token.
The Rouge Project roadmap
The Rouge Project Whitepaper, presents a preliminary roadmap, that outcasts the main development axis of the platform. The roadmap highlights three phases :
Phase I (2017)
The main purpose of this early phase is gathering feedback from the community and touring specialized conferences. The team states that the development and release of the public proof-of-concept Coupon Demo DApp will also take place.
Phase II (Q1 2018)
During this phase, the team aims to build a viable version of the Rouge Network platform, and officially launch the ICO event.
Phase III (Q2 2018)
During the second quarter of 2018, the team forecasts a full implementation of the Rouge Network platform. Consequently, the RGE token will fuel the whole ecosystem.
The Rouge Network project is one of the most disruptive visions I’ve had the chance to assess. In fact, the idea and its development, both came from an existing issue. The project will profit from an uplifting market setting, that shows favorable conditions to implement and expand such platform. Besides, applying Blockchain technology to this very problem of repudiation, double redemption, and early expiry, goes hand in hand with the very philosophy of the technology.
I will leave you with Naira d’Arcollières and Christophe Le Bars speaking of how can everyone use the Rouge Project platform.
PS: The opening story of the article ends with the “guy” getting fired of course. Then, after months of packing groceries, he goes on a self-discovery journey to southern India. He now wears dashikis, a thick beard, long unwashed hair, and plays Sitar with a group of modern time hippies. He also smokes marijuana all day long, while reflecting on how liberating his new life experience is..