Terra Announces BuzLink, a Blockchain Viral Marketing Tool

Terraform Labs (TFL), the group behind Terra—a stable, programmable cryptocurrency—announces BuzLink, an innovative blockchain viral marketing tool that distributes stablecoin rewards to product referrers over the Terra blockchain.

While product referrals can be a highly effective marketing tool, they typically only benefit the direct referrer and do not provide visibility into the referral scheme. BuzLink enables its users to become product ambassadors by creating a personal referral code for a product, which they can share to their social network. BuzLink’s differentiating point is that all users who share the product link benefit when a user buys the product, distributing stablecoin rewards to each sharer according to their degree of relationship to the buyer. As value accrues for each user in the process, BuzLink creates an in-built system of transparency and trust by visualizing the flow of referrals each step of the way using blockchain technology’s immutable tracking capabilities.

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BuzLink creates explicit financial incentives for users to share products to their networks effectively to maximize the probability of a sale. It enables new business models for influencers and marketing freelancers to generate revenue from permissionless product referrals. For merchants, BuzLink enables viral marketing for every product line with little engineering work. BuzLink also guarantees that merchants see targeted returns on every marketing dollar since rewards are paid on a successful purchase basis. The usage of Terra’s open blockchain ledger allows transparent sharing of information between users and merchants, removing dispute and arbitration costs.

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Although there is a thriving and rapidly evolving decentralized finance (DeFi) ecosystem that has developed numerous applications targeting crypto natives, there are few products that harness the security and transparency of blockchain to deliver tangible benefits to the masses. Following the success of CHAI, a payments app powered by Terra and boasting over 2.1M users, as well as the monumental launch of DeFi protocol Mirror, which locked over $82M in total value of assets within five days of launch, Terra aims to address this problem with its upcoming release of a new Blockchain-as-a-Service (BaaS) application: BuzLink.

Officially launching in February 2021, BuzLink is hosting its first promotion campaign from December 10-31, 2020. The premise is simple: participate by registering and sharing the link with your friends to get rewards. More specifically, users receive $3 upon registration, and can further earn rewards by sharing the referral link with friends up to the third degree. Users can go to buzlink.io to participate.