Introducing SNAPUP — A revolutionary way to shop for premium products

What is A Snapup?

A Snapup or Snap is a special event accessible only to Snapup’s members, in which its participants can choose how much they are willing to pay for a particular product they desire, between 10% to 20% of it’s retail price.

You can think of it as an Auction, and the amount people are willing to pay as their “bid”.

Unlike traditional auctions, that sell the item to the highest bidder, and have a cumulative bidding process in which to obtain the product you have to outbid the previous bidder, in a Snap each bid is private to the bidder, and it represents the quantity of “desire” or “will” of the bidder to obtain the product.

The number of participants is limited, and will generally not surpass 300 people. A Snap has always an assignee, or “winner”, among the people who joined the event.

How much are you willing to pay? The amount of your “bid” represents how much you desire that product, and will be taken into account in deciding the assignee, or the “winner”, for that event, but will not be the only determining factor.

Joining an event has a cost in Snapcoins, our ERC20 Cryptocurrency.

Snapcoin is the mean by which all of this is possible.
 It serves as a storage of value and it’s the blood of our business.
 Thanks to its flow from the hands of the customers to ours and back, we are able to close the events and assign the products.
 Everyone who owns an amount of Snapcoins can join a Snapup and take a chance on saving up to 90% on the products he loves, and help others do so, while increasing his chances to obtain the reward for himself in future interactions.

Get yourself some good karma!

Q: How do you determine the assignee for a Snap?
A: With our Meritocracy Based Rewarding Algorithm

Every action you perform on our platform, like inviting a friend to join, sharing your experience or other’s on your social media, buying Snapcoins and so on…is awarded KARMA POINTS.

The action that awards the most points is the participation to events, because in doing so, you are helping other people save on the product they desire, while of course trying to take the benefits for yourself.

The reward in Karma Points augments proportionally to the number of Snaps you joined but didn’t win.

Long story short:
The more you are an active user on the platform, and the closer to 20% of the retail price of the product you are willing to pay, the higher your chances are to be the assignee for that Snap.

Our algorithm is carefully calibrated to:

  • Reward the participants with the most Karma Points, but not so much that they are the only ones who have a chance to win.
  • Reward the participants who are willing to pay more for the product while still leaving good chances for people who are willing to pay less.
  • Ensure that virtually everybody will get the reward after a few interactions, because users keep collecting Karma Points proportionally as long as they don’t win a Snap. When they do win, their counter is set back to zero.

You are the creator of your destiny

When you join a Snap, along with the amount of money you are willing to pay for that product, you will be asked to enter a three digit PIN code.

This allows the Draw to be completely user-determined, based on an external and non-manipulable event, and therefore impartial.

Even a one unit change in the pin of a single participant(you) can result in an entirely different Assignee.

A Solid, Rewarding and Sustainable Economic Model

A sustainable economic model. Thanks to the flow of Snapcoins from the hands of our customers, to ours and back, and our Meritocracy Based Rewarding Algorithm, this system allows to multiply by various orders of magnitude the spending power of each individual who joins the community.

BENEFITS FOR THE USERS

  • Our catalogue is virtually unlimited thanks to drop shipping.
  • Products are always brand new and are shipped directly from the manufacturer or an authorised reseller.
  • The system is intended to work for the general public, so all the complexity of having to handle a wallet and a cryptocurrency will be hidden for the user.
  • Joining and winning events will increment the circulation of the currency. The more people win, the more people will want to own Snapcoins and join the events, and the more their value will grow.
  • The participation cost to the events is the Euro counterpart of the Snapcoins. This allows people to increase the number of events they can join with the same amount of Snapcoins as their value grows over time.

BENEFITS FOR THE INVESTORS

  • Snapup will always hold a sufficient amount of money in cash to cover the price of the products and allow an healthy and steady raise in the value of Snapcoin, maintaining a solid disproportion between supply and demand powered by our marketing efforts and the engagement of the community.
  • We will list and sell our currency on various exchanges. In the future Investors will be able to sell their Snapcoins directly from our platform, by putting them up for sale in their account page into an “Investor Pool” from which will be drawn 25% of the total amount of coins sold daily with revenue distributed proportionally to the percentage that each investor occupies in the pool. This will allow them to always sell at the best market price possible and allow us to directly control the price at which Snapcoins trade. *
  • Investors can be an active part in the growth of the value of the currency by advertising their success or the ones of our customers on their social networks.

ROADMAP

The development of the project started on December 2016 and as of now, a completely working platform has been created and it’s viewable and usable by everyone on https://demo.snapup.biz
(to be released in the next few days)

We are expecting the finalisation process of preparation for the launch to span in a period that will be approximately of 5 months and will consist of:

  • The establishment of our Headquarters in Tallinn, Estonia
  • Key hires (Marketing Manager & IT Engineers)
  • Finalisation of the development
  • Release of SNAPUP BETA

SNAPUP BETA will be released to a selected group of people that already owns Snapcoins thanks to the ICO that will participate to the events and act as beta-testers for the platform. The events will be real and products will be shipped to the assignees. The purpose of the BETA is to test the whole process and be able to make adjustments, if needed, in order to ensure the best experience possible from the launch onwards.
We expect the BETA period to be fairly short due to the already advanced development stage.

The ICO will help us accelerate this process thanks to the people that will decide to try our DEMO. This will render us able to see how our application behaves in the real world, how it scales and it will greatly accelerate the time needed for the release of the actual application.

We are planning on launching the application in the whole European area by Q2 2018. People from all over Europe will be able to purchase Snapcoins from our platform and they will be listed on all the major coin exchanges.

By Q3 2018 We plan on releasing our SPIDER ALGORITHM.
The SPIDER ALGORITHM will make Snapup’s database virtually unlimited.

People will be able to search for the product they desire in our Searchbar,
that will act like a Search Engine, and will scrape the net to find all the information needed for that product, and will create a Snapup on the spot for that user.

Then, when the user joins the Snap, our Matching Algorithm(already developed and actively used in the application) will simply match an active Snap in the same price range, and merge the newly created one inside it.

This is possible because a Snapup is an “idea”, and is not linked to any particular product.

By the end of Q4 2018 we will release our Image Recognition Algorithm, that will have it’s fundation upon the Spider and will make our users able to join a Snap by taking a picture of the product they desire, instead of typing it into the searchbar.

The Image Recognition Algorithm, or simply Photos Algorithm, is a neural network that will be trained via Supervised Learning(the photos and the feedback of the users), and will learn to extract the names of the products from the pictures, and simply send them to the Spider Algorithm, that will scrape the net and create the event on the spot.

By then you will see people joining events by taking pictures while window shopping!

The last step will be to launch Snapup in India and South East Asia, and we expect that to happen by 2020.

The development of the project started on December 2016 and as of now, a completely working platform has been created and it’s viewable and usable by everyone on https://demo.snapup.biz
(to be released in the next few days)

We are expecting the finalisation process of preparation for the launch to span in a period that will be approximately of 5 months and will consist of:

  • The establishment of our Headquarters in Tallinn, Estonia
  • Key hires (Marketing Manager & IT Engineers)
  • Finalisation of the development
  • Release of SNAPUP BETA

SNAPUP BETA will be released to a selected group of people that already owns Snapcoins thanks to the ICO that will participate to the events and act as beta-testers for the platform. The events will be real and products will be shipped to the assignees. The purpose of the BETA is to test the whole process and be able to make adjustments, if needed, in order to ensure the best experience possible from the launch onwards.
We expect the BETA period to be fairly short due to the already advanced development stage.

The ICO will help us accelerate this process thanks to the people that will decide to try our DEMO. This will render us able to see how our application behaves in the real world, how it scales and it will greatly accelerate the time needed for the release of the actual application.

We are planning on launching the application in the whole European area by Q2 2018. People from all over Europe will be able to purchase Snapcoins from our platform and they will be listed on all the major coin exchanges.

By Q3 2018 We plan on releasing our SPIDER ALGORITHM.
The SPIDER ALGORITHM will make Snapup’s database virtually unlimited.

People will be able to search for the product they desire in our Searchbar,
that will act like a Search Engine, and will scrape the net to find all the information needed for that product, and will create a Snapup on the spot for that user.

Then, when the user joins the Snap, our Matching Algorithm(already developed and actively used in the application) will simply match an active Snap in the same price range, and merge the newly created one inside it.

This is possible because a Snapup is an “idea”, and is not linked to any particular product.

By the end of Q4 2018 we will release our Image Recognition Algorithm, that will have it’s fundation upon the Spider and will make our users able to join a Snap by taking a picture of the product they desire, instead of typing it into the searchbar.

The Image Recognition Algorithm, or simply Photos Algorithm, is a neural network that will be trained via Supervised Learning(the photos and the feedback of the users), and will learn to extract the names of the products from the pictures, and simply send them to the Spider Algorithm, that will scrape the net and create the event on the spot.

By then you will see people joining events by taking pictures while window shopping!

The last step will be to launch Snapup in India and South East Asia, and we expect that to happen by 2020.

PRESALE DATES

Snapup TEAM IS PROUD TO ANNOUNCE THE START DATE OF THE PRESALE

THE PRESALE WILL START on

Monday August 28th 2017 12:30 UTC+2

and will end

Monday September 4th 2017 12:30 UTC+2

The distribution pool will be of 20.000.000 SNP with a 20% BONUS

If the contribution exceeds this amount, the presale will continue exhausting tokens from the next distribution pools in the following manner:

0 – 20.000.000 SNP
BONUS 20%

20.000.001 – 40.000.000 SNP
BONUS 10%

40.000.001 – 60.000.000 SNP
BONUS 5%

60.000.001 – 80.000.000 SNP
BONUS 2%

80.000.001 – 100.000.000 SNP
BONUS 0%

All the tokens that will not be sold during the presale will be distributed during the span of the ICO campaign
(Date TBD Soon)

MORE INFORMATION :

  Website   |   Whitepaper   |   Demo   |   Team   |   Slack   |   Facebook   |   Twitter   |   Telegram   |   Medium  

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