FitnessChain is a blockchain-based sports app that allows users to place bets on their training plans and get rewards for committing to workouts. The solution offers its own FITS coins — governance/loyalty tokens — that can be exchanged for discounts at sponsoring institutions.
The main goal — and at the same time the main challenge — was to create a decentralized network. The existing popular protocols did not fit this idea of the application for a number of reasons. Some of them, for example, have high transaction fees, or they’re more suitable for transferring assets.
Others don’t provide the necessary transparency of the distribution algorithm, making it difficult to implement the main concept of the application. So, we decided to build our app using the Echo blockchain protocol.
Blockchain ensures decentralization and makes the system fully transparent. Decentralization implies a complete absence of central authority, which makes it almost impossible to cheat the system.
Users have an opportunity to earn loyalty tokens and place bets using popular cryptocurrencies and stablecoins
The reward system is fully transparent. Rewards are calculated automatically as the logic is embedded in smart contracts
Users can create and manage a wallet (coin transfer and replenishment) and fund an account using built-in payments
Push notifications to work with reminders and recommendations are implemented
All the information is stored on the blockchain
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Using FITS coins to accrue bonuses
Ability to exchange FITS coins for sponsors’ goods or use in-app tokens
Registration and questionnaire for training selection
Choosing a favorite sport and customizing training intensity
Automatic rewards calculation and distribution
Reading data from the embedded devices
Locking a certain number of tokens from the user’s account for the next daily or weekly goal after its registration in a smart contract. Unlocking tokens and distributing rewards if the goals are met
Register in the application
Take a survey to determine the level of physical fitness and sports preferences
Connect the app to the fitness device
Select a fitness group, join it, and set workout goals
Start working out
FitnessChain app rewards users for completing their workout plans and applies penalties to those who are not committed to their fitness goals.
A user voluntarily joins a certain group of people who perform the same training program. Before the training starts, all members of the group make bets that they will complete the workout plan within a certain period of time. Betting is optional and for any amount in tokens.
The betting amount of all the participants in the group forms a fund, which at the end of the training period is distributed proportionally among those who successfully completed the goal.
There are at least four options that users can choose when registering their workout plans:
Considering the FitnessChain app's target audience and its core concept of reward distribution, we decided to apply affiliate marketing techniques, sponsored advertising, and influencer marketing. Here's our plan:
Continue to increase the number of sponsors
App promotion through influencers
Use contextual advertising
Attract a certain number of users and reach a stable percentage of their retention
Launch a reward system for completed workouts
Earn a small percent from the general fund before the distribution of rewards begins