Quote from: AltcoinScamfinder on September 18, 2017, 11:28:37 PM

What makes this need it's own token? You can just as easily use bitcoin or Ethereum in a referral system right? Why not just raise capital for a project and not create a new token?

Really appreciate this question and really appreciate you critically looking at ICOs. It's very much needed today, where we see hype often superseding everything else.

There are 3 reasons we chose to have a token:

1) An ERC20 token by itself is of course very little use and is not meant to be a token by itself but rather an interface that will be implemented for very basic token functionality. Due to the complexity of referrals and certain functionality that we want to add to the tokens which affiliates will receive, we will need to implement further functionality on top of ERC20. Common example of this would be if advertisers decided to issue vesting tokens, or tokens that issued funds in some other way or other conditions.

2) It creates an economy that is not tied directly to the value of Ethereum. Ethereum is a very volatile cryptocurrency currently. If program managers commit to certain # of referrals and ETH prices increase or decrease, it can cause grief on either side of the network.

3) Lastly as you have rightfully taken note, the purpose is to raise capital. This is a more simplistic view, but in reality this also dictates several other things. e.g. What is the value of a referral? What is the value of the network that is created by Referex? These questions start to become clearer when these tokens take their own individual value.

We're glad to receive further feedback. Please use whatever channel suits you best to get in touch

We are still setting up a few things but should be available to take questions on slack very soon as well