Key takeaways
- RewardsBunny is a cashback platform on Binance Smart Chain offering up to 30% cashback on purchases from brands like AliExpress, eBay, and Booking.com, withdrawable as Bitcoin, stablecoins, or the Rbunny token.
- The platform provides an additional 5% bonus when users withdraw cashback in Rbunny tokens instead of other cryptocurrencies or USD.
- RewardsBunny operates globally with current focus on US and UK markets, supporting users from multiple regions including Turkey and Brazil.
- The Rbunny token ecosystem includes buyback mechanisms funded by transaction taxes and platform profits to sustain token value and support continued development.
- The platform has accumulated approximately 10,000 users and partners with major retailers to negotiate higher cashback rates for users.
How the cashback works
Ashton Addison: What is RewardsBunny, and what does the platform do?▶ 00:44
Ivaylo Yovkov: RewardsBunny is a rewards-focused token on the Binance Smart Chain network, with a cashback platform that rewards everyday users for their online shopping with cashback in crypto or USD. You can earn cashback from brands such as AliExpress, eBay, Booking.com and many more. You can withdraw in popular cryptocurrencies such as Bitcoin, Binance Coin, or in USD. All you need to do is shop through our platform, and you can earn cashback of up to 30% on your online shopping.
Ashton: Cashback programs usually pay one to three percent. How can you offer up to 30%?▶ 01:30
Ivaylo: Sometimes it's due to the promotions and campaigns we are running. It really depends on how much each participating brand gives, and some brands are more generous than others. All of this cashback is on top of any loyalty programs or cashback your debit cards give you.
Ashton: What is your relationship with the retailers you partner with?▶ 05:07
Ivaylo: That's one of our advantages over competitors. We're not only trying to get brands onto our platform and give cashback to users. We hold meetings and discussions with them, and we're trying to be the bigger partner in the picture, always negotiating for bigger rates. For example, with Booking.com we have up to seven percent, which is pretty insane for even one booking.
Our cashback platform is just the very tip of the iceberg.
The token and how its value is supported
Ashton: How does your token differ from other cashback rewards, and what extra functionality does it have?▶ 02:59
Ivaylo: Our cashback platform is just the very tip of the iceberg. We want to be the global brand in the cashback rewards space, with a super app that lets you do a multitude of things: shopping, earning cashback and buying crypto. We launched with Bitcoin withdrawals as a finished, polished product. If you withdraw in our token, we give you an extra five percent of what you withdraw, which is a nice amount even for small withdrawals.
Ashton: What will sustain the token's value beyond collecting it as a reward?▶ 06:20
Ivaylo: There are multiple layers. When users withdraw cashback in our token, we buy tokens back from the market, and they also get the extra five percent. Even if users withdraw in other tokens or in USD, we put part of our profits into buying back the token. We also keep a small tax on token purchases, which is invested in the cashback platform. The platform is gaining users every day, and we already have around ten thousand. It works like a mini ecosystem: the token and the platform are one big project supporting each other. We also have membership tiers, and crypto debit cards are planned.
Roadmap: card, apps, exchange listing and metaverse
Ashton: What are the next steps for growth?▶ 09:26
Ivaylo: We launched as an adaptive token, always adapting to the market and the community's needs. We're researching the metaverse, and we want to be in there. We'd like our own crypto card, maybe in Q2 or Q3, so people can shop offline and still get cashback on every purchase. An NFT marketplace is further down the roadmap. We've just released browser extensions for Safari, Chrome, Edge and Firefox. Mobile apps for iOS and Android should launch in early January. We are also trying to get into a top-tier exchange, which we expect in Q1.
Ashton: How could RewardsBunny fit into shopping in the metaverse?▶ 12:12
Ivaylo: One of our mini dreams is to imagine diving into the metaverse and shopping at, say, Amazon right there, with our cart. You could be wearing our merch, and you could get metaverse cashback. That is the next-level thing, but we're definitely looking into how we can integrate it.
With Booking.com we have up to seven percent, which is pretty insane for even one booking.
Getting started
Ashton: Do customers need crypto knowledge, and do you provide a wallet?▶ 13:26
Ivaylo: We discussed creating a wallet but decided against it, because there are always security risks with anything online. We'll give you a tutorial on the steps instead. You just provide us with your wallet address and we send you the tokens. It's really simple.
Ashton: How can people get involved with the community and the product?▶ 14:17
Ivaylo: The best way is our website, rewardsbunny.com, and our Telegram, which is linked on the site along with all our socials. Telegram is the most active. The co-founders, not only the moderators, give regular updates to our investors on what's happening, what's coming next and the progress so far.
This interview has been edited for length and clarity. Recorded December 2021.