Benefits for users

We reward users for actively and genuinely participating in the review economy.

The financial reward comes in the 2 forms:

1) Earning Credits with every review or check-in that they do. The amount of Credits a users earns depends on many factors, such as:

• The popularity of the venue

• The type of Bohemian (every user starts with a free Soulbound Bohemian)

• The properties and level of the Bohemian

• The quality of the review

Credits can only be used inside the mobile app, and are not blockchain based. You can use them to level up your Bohemian, buy in-game items and exchange them for coupons and discounts.

Credits can only be earned through active involvement. They cannot be bought or sold.

2) Earning Wisdom Points (WP) with every valuable action in the ecosystem such as reviews, check-ins, reporting reviews, social interactions, etc... The amount of WP earned depends on the same factors as Credits.

WPs count for a users ranking on every leaderboard and competition they participate in. Depending on the final ranking, users can then claim a certain amount of $RATE after which the boards are reset.

The social reward is achieved by building up a reputation in the weRate ecosystem that radiates trust and social status. This is done by consistently checking in and providing high quality reviews, which allows you to level up your Bohemians with credits, as well as your account through WPs. The social impact your reviews have will also be rewarded, for example by getting a lot of upvotes or consistently leaving reviews with a high usefulness score calculated by our AI engine.

Another social benefit is that users can connect with their friends and family, see where they go and get recommendations from people they like and trust.

You can even become a weRate influencer within your favourite niche, gain followers, and enjoy many perks and benefits. Businesses will get in line to invite you to try out their best offerings and review them!

Finally, users enjoy a informational reward through the high quality reviews that our platform offers. Specifically, we improve the 4 V's of ratings:

• A more desirable degree of Valence, referring to the direction of the reviews (negative, neutral, positive) and the average review star rating. For example, a couple of 4-star reviews are perceived as more trustworthy than consistent 5-star ratings.

• A high Volume, generating a large total number of reviews because we incentivize every review and check-in.

• A high level of Veracity or perceived trustworthiness, thanks to all the built-in mechanisms of authenticity and social proof.

• More Velocity, referring to the date and time when reviews have been submitted and the frequency of review postings. Also this is a consequence of incentives, along with GameFi and SocialFi elements.