【Bion】TON's first shopping app that gives cash back in crypto assets / Over 1000 merchants, available in over 30 countries / BION loyalty program is underway / @bion_app
Available on Telegram Mini App and earn up to 40% cash back.
Good morning.
Mitsui from web3 researcher.
Today I researched "Bion".
🔵What is Bion?
💰A proprietary token $BION
💬Aims to achieve distributed commerce
🔵What is Bion?
"Bion" is a web3 shopping app.It already has more than 1,000 merchants and is used in more than 30 countries.
It was released as an Andoroid app in August 2023 and also as a Mini App for Telegram in June 2024, and is now launching Telegram as its main focus.As evidence, it has also received investment from TON Ventures, making it the first shopping app on the TON blockchain.
The first video is the easiest to understand the usage image, but some excerpts are also shown in the image below.The maximum cashback rate is 40%.
You must connect a TON of wallets to receive cash back.
In addition, if you refer a friend, you will continue to receive 10% of the cash back that friend receives.
Basically, this is a shopping app that allows you to get cash back in crypto assets like this.
💰$BION proprietary token
BION POINTS was announced in August 2024 and an incentive program was launched to issue $BION, a proprietary token.Points will be earned not only by purchasing products, but also by completing simple tasks, such as circulating in the store, inviting friends, and Wallet Connect.The points will be redeemable for tokens in the future.
The total supply of $BION tokens is 1 billion tokens, and allocations are not yet publicly available.
Utilities will be used for staking and membership in addition to in-app payments and cash back.This is a system whereby membership in the shopping app is determined by the amount of staking you do, and specifically the tiers are as follows
Bronze
Staking Amount: 0 $BION
APR (year): NA
Excess Cash Back: 0%
Immediate cryptocurrency cash back: 30-day waiting period
Silver
Staking Amount: $1000 $BION
APR (annual): 10%
Excess Cash Back: +10%
Immediate cryptocurrency cash back: yes
Gold
Staking Amount: $5000 $BION
APR (annual): 15%
Excess Cash Back: +15%
Instant Cryptocurrency Cash Back: Yes
Platinum
Staking Amount: $10000 $BION
APR (annual): 20%
Excess Cash Back: +25%
Immediate cryptocurrency cash back: Yes
By staking more $BION, you will receive a higher staking reward in the first place, while also receiving an immediate and higher return on your cryptocurrency cash back when shopping.
This is not yet finalized, but this combination of staking and membership is building a tokenomics system that encourages long-term, locked-in holdings, combined with the actual demand for payments and cash back.
💬Distributed Commerce for
The last one is a consideration.
I found Bion interesting.There have been cash-back apps in the past, but the fact that they were the first to do it with the Telegram Mini App and the membership model based on token ownership seems to be versatile and workable.
What I find more interesting is that Bion is not aiming for just a shopping app with crypto payments and cash back, but is aiming for a decentralized commerce worldview that goes even further.
Decentralized commerce envisions putting the entire commerce ecosystem on the blockchain, including transparency of funds and immediate transactions through crypto asset payments and cash back, as well as transparency of the traceability of the goods themselves in the first place, enhanced security, and personal control of payment information.The blockchain is a key component of the commerce ecosystem.
The vision is that when that world is realized, for example, the following may become a reality.
Enhanced social commerce:Imagine you are watching a live stream and you like the host's shirt.When you click on it, you have purchased a digital twin of that shirt as an NFT.You can wear it in the virtual world or redeem it for a physical version.It's like a fusion of shopping, social media and gaming.
Fractional ownership of luxury goods: Can't afford a $10,000 watch? In the future, you may be able to purchase a "share" of that watch as a token.You might even gain partial ownership and the right to wear it for a day.It is like a timeshare for luxury goods.
AI-powered DeFi Shopping Assistant:Imagine an AI managing your cryptocurrency portfolio and shopping habits.You've made a profit on yield farming.Why don't you use it to buy a new iPhone?You might ask, "Would you like to use it to buy a new iPhone?It's like having a personal shopper and a financial advisor in one.
Decentralized credit based on reputation:Shopping history stored in the blockchain could become your credit score.No credit card is required.Your transaction and return history will determine your creditworthiness on all platforms.
Revolutionize the supply chain:Every product will have a "digital twin" NFT that will track the entire product life cycle.You can know exactly where the coffee beans came from, who handled them, and when they were roasted, all verified on the blockchain.
Dynamic pricing based on real-time token economy:Prices fluctuate based on demand, supply and even the current value of the platform's native tokenThis applies to all things airline.This is like an airline ticket that applies to everything.
Decentralized Dispute Resolution:If you disagree with the seller, your case is fairly and efficiently incentivized by a token, a decentralized jury networkYour case may be tried by a
Interoperable loyalty program:Points from one platform can easily be exchanged or used on another platform.Of course, this is all made possible by blockchain.
Virtual try-on using NFT: Buy NFT of designer clothes and see if they fit you in real time using AR.Like it? Redeem the NFT for the physical version.
Community-owned marketplace:Imagine Amazon is owned by its users.That's the promise of a DAO-based ecommerce platform.
I think it is very worthwhile that you have chosen Cashback as the first step in this process and have begun working closely with Telegram.Since their one-time goal is to reach 100 million users, we look forward to following their future development!
This is my research on "Bion"!
🔗Reference/image credit: HP / X / BLOG
Disclaimer：I carefully examine and write the information that I research, but since it is personally operated and there are many parts with English sources, there may be some paraphrasing or incorrect information. Please understand. Also, there may be introductions of Dapps, NFTs, and tokens in the articles, but there is absolutely no solicitation purpose. Please purchase and use them at your own risk.
About us
🇯🇵🇺🇸🇰🇷🇨🇳🇪🇸 The English version of the web3 newsletter, which is available in 5 languages. Based on the concept of ``Learn more about web3 in 5 minutes a day,'' we deliver research articles five times a week, including explanations of popular web3 trends, project explanations, and introductions to the latest news.
Author
mitsui
A web3 researcher. Operating the newsletter "web3 Research" delivered in five languages around the world.
Contact
The author is a web3 researcher based in Japan. If you have a project that is interested in expanding to Japan, please contact the following:
Telegram：@mitsui0x
*Please note that this newsletter translates articles that are originally in Japanese. There may be translation mistakes such as mistranslations or paraphrasing, so please understand in advance.