The SocialGood team has launched a pledge rewards membership program where users can earn pledge rewards in SG (SocialGood cryptocurrency tokens), which are stored in the SocialGood app and its wallet. SocialGood offers a membership program for its users to earn up to 15% APY on SocialGood.
Their membership level is determined by the number of SGs held and the cumulative amount of purchases made in the last two months – so the amount of Staking rewards received will depend on the user's membership level.
Membership Program Overview
As shown in the chart below, the more users shop through the SocialGood App and the more SGs you hold, the more coverage they will have. In turn, this will result in more pledge rewards for them.
For a limited time, Platinum subscribers will also be able to earn a 15% Staking bonus.
Note: The vertical axis (Staked) is the number of SGs you hold (the total amount of SGs you have in the application and in the wallet connected to the application)
The horizontal axis (Purchase) is your cumulative purchase amount for the past 2 months. Your membership level is determined by these two axes.
The rewards membership program is divided into five plans – Diamond, Platinum, Gold, Silver and Bronze – depending on the number of SG tokens the user has and the amount the user has spent through the app in the last 2 months.
The maximum reward is 15% for pledging more than 5,000 SG tokens or spending more than $100,000 in the last two months, and the minimum reward is 1% for pledging less than 50 SG tokens and spending less than $1,200 in the last two months. Rewards are recalculated every six hours to ensure that users receive a fair amount of rewards.
Pledging is a great way to earn digital tokens without direct investment. Users shop in the retail section and pay directly to the fiat currency gateway to receive cryptocurrency in return without any additional effort. SG tokens do have a supply cap, and as the number of holders continues to increase, the token price rises. The Pledge Rewards membership program is a great way to increase token ownership and easily earn more rewards.
How to start pledging
In order to start pledging, users need to earn SG by shopping in the SocialGood app available on iOS and Android, or by purchasing SG on an affiliated exchange such as Bittrex Global or Bitmart and connecting a supported wallet with SG to the SocialGood app (link above). Currently supported apps are WalletConnect, MetaMask, and CoinBase. WalletConnect can also be used to connect to other wallets, such as the Trust wallet.
Connect their wallet to the SOCIALGOOD application
Download the wallet from the Google Play Store or App Store. (If you store your SG elsewhere, such as in a Trust wallet or Coinbase wallet, please make sure you have written down your recovery phrase* in advance. *Do not share this phrase with anyone)
Open the SocialGood application. (If the user is using WalletConnect, make sure to close the app completely first) Go to the Assets screen -> Staking Rewards -> Connect My Wallet -> and select your wallet.
Follow the instructions to connect the wallet to the SocialGood app. (For CoinBase, users will need to copy and paste the URL into their app first)
SocialGood announced on February 21, 2022 that they are now offering $30 worth of SG for each new referral that shares an invitation code through the SocialGood app. New users who sign up for the SocialGood app will also receive $30 worth of SocialGood.
Singapore listed in Mexico
Starting February 28, 2022, MEXC will go live on SocialGood (SG) and launch a dedicated "MX DeFi" site. MEXC also said that the SocialGood team will host an MX Defy Yield mining event exclusively for MEXC users. A total of 30,000 SG will be available there.
For more information about the SocialGood listings on MEXC, click on this link.
To create an MEXC account, click this link.
For more information about the SocialGood referral program, please click on this link.
The SocialGood app is available on iOS and Android. You can trade SocialGood (SG) on BittrexGlobal and Bittmart.