MiL.k is a blockchain-based rewards platform enabling users to integrate and trade loyalty points across various services seamlessly.

In the growing lifestyle market, encompassing travel, leisure, fashion, and culture, companies increasingly rely on reward points to attract and retain customers. However, traditional reward systems often provide minimal benefits, leaving users with scattered, underutilized points. As competition intensifies, service providers struggle to differentiate themselves and maintain customer loyalty through standalone marketing efforts. To address these challenges, an innovative platform has emerged to integrate, consolidate, and enable seamless trading of reward points across multiple industries, maximizing value for users and businesses alike. MiL.k harnesses blockchain technology to revolutionize how customers and companies benefit from loyalty programs.

What is MiL.k (MLK)?

MiL.k was founded by Jung-min Cho, Rooney Jung, and Woo Shawn, alongside creative entrepreneur Mazdack Rassi, to revolutionize reward points integration using blockchain technology. The project began in 2018, focusing on building a blockchain network and developing the MiL.k Wallet. By 2020, the platform launched its service and established key partnerships, including Yanolja and Shinsegae Duty-Free, enabling point exchange capabilities. That year also saw MLK’s listing on some major exchanges, and the introduction of MiL.k Pack rewards and mobile coupon shops.

In 2021, MiL.k expanded partnerships to include Jin Air, Ambassador Hotel Group, and Megabox, offering users greater versatility in point exchanges. By 2022, MiL.k had surpassed 1.3 million users, launched AirAsia Points integration, and collaborated with Lotte Members for L.Point exchanges, solidifying its foothold in Asia. The same year, MLK’s listing was listed on Gate.io, and the LoungeM membership promotion was released.

In 2023, MiL.k obtained the ISMS-P certificate, enhancing its data protection credentials. New integrations like OK Cashbag and Getplus expanded its point exchange network, while collaborations with SKP Racky NFT and Pin-Direct reflected its push into Web3. MiL.k also launched new market services and expanded LoungeM.

By 2024, MiL.k secured a partnership with The Sandbox, exploring blockchain synergies between gaming and travel, and continued co-marketing efforts with key partners like AirAsia, CU, and OK Cashbag. These milestones highlight MiL.k’s innovative approach to connecting diverse industries, integrating reward systems, and fostering blockchain adoption globally.

How Does MiL.k Work? Platform Composition and Muklti Token System

MiL.k operates as an integrated ecosystem that connects service companies, customers, and blockchain technology, creating a seamless platform for exchanging and utilizing reward points. Its structure is built around three core entities: the platform operator, aligned service companies, and customers, each playing a critical role in ensuring the system’s efficiency and sustainability.

The platform operator, known as the Token Inter-Change Agency (TICA), is the central hub of the MiL.k ecosystem. TICA is responsible for maintaining liquidity, operating the Brand Token transaction market, and upholding service agreements with aligned companies. It holds a reserve of 28% of the total MLK tokens, ensuring stable liquidity for Brand Token trades. The trading process involves a dynamic pricing algorithm, where users interact directly with the platform rather than with each other. This model provides stability and protects against volatility while facilitating efficient exchanges. By controlling liquidity and ensuring a transparent marketplace, TICA underpins the platform’s functionality and reliability.

Aligned service companies from travel, leisure, and lifestyle sectors join the MiL.k platform to enhance their customer offerings through collaboration. These companies issue their own Brand Tokens, which customers can acquire by converting loyalty points. This arrangement fosters a synergistic environment with no internal competition, as each company represents a unique industry niche. Aligned companies also benefit from access to new customers and streamlined payment obligations, promoting long-term engagement within the ecosystem.

The platform’s customers include both existing users of aligned companies and new entrants. Existing users convert their loyalty points into Brand Tokens, which can be exchanged for MLK coins or other services within the platform. New customers, attracted by the platform’s flexibility, can purchase MLK coins from external exchanges, access discounts, and use the platform’s services seamlessly. This dual engagement model not only enhances customer retention but also drives adoption across diverse user groups.

Source: mil.k whitepaper

From a technical perspective, MiL.k leverages blockchain technology through Luniverse’s Blockchain-as-a-Service (BaaS) platform. The system uses Hyperledger-based side chains for transactions and interactions, ensuring scalability and confidentiality. These side chains are linked to service companies’ systems via APIs, enabling smooth integration. Additionally, the platform’s digital wallet serves as the primary decentralized application (DApp), offering users secure and efficient management of their Brand Tokens and MLK coins.

MiL.k’s blockchain backbone ensures transparency, security, and decentralization. Transactions are verified by multiple nodes in the network, preventing tampering or fraud. Smart contracts automate processes, such as converting loyalty points into MLK coins, ensuring efficiency and trustless operations. Together, these components create a robust, user-friendly system that enhances the value of loyalty points while fostering collaboration among service providers.

Multi Token System

MiL.k employs a sophisticated Dual Token System to integrate and optimize the use of loyalty points across various service companies within its platform. This system comprises two distinct types of tokens: Brand Tokens (BT) and Mil.k Coins (MLK), each designed to perform complementary roles in creating a seamless and efficient trading environment.

Brand Tokens are digital representations of loyalty points issued by individual service companies. They mirror the traditional functionality of mileage points, where customers earn, save, and redeem them for services. However, unlike conventional systems, Brand Tokens leverage blockchain technology, making transactions more secure and transparent. Each Brand Token is issued and managed off-chain by its respective company but recorded on-chain for verifiability. Customers who use Brand Tokens are guaranteed the same redemption value as traditional mileage points. While Brand Tokens function similarly to cash within their native service, they can also be exchanged for Mil.k Coins, enabling further flexibility. This exchangeability empowers users to convert loyalty points into a universally accepted token that can be used across the platform’s ecosystem.

Mil.k Coin, the platform’s native cryptocurrency, is the intermediary currency that integrates and facilitates transactions between Brand Tokens. Users can acquire MLK through three primary methods: selling Brand Tokens, purchasing MLK on external exchanges, or receiving transfers from other users. Unlike Brand Tokens, Mil.k Coins are traded on external cryptocurrency exchanges, meaning their value fluctuates based on market supply and demand. However, within the platform, MLK serves as a stable medium for transacting Brand Tokens, as its algorithmically determined price aligns with the supply and demand dynamics of each Brand Token.

The Dual Token System’s multi-blockchain infrastructure ensures system stability, security, and performance. Each service company operates its own blockchain for Brand Tokens, separate from the central chain of Mil.k Coin. This architecture prevents visibility into competing companies’ transactions, ensures data confidentiality, and protects against performance issues from high traffic volumes. The integration between these separate blockchains occurs through Luniverse’s Hyperledger-based side chains, connecting Brand Token chains with the Mil.k Coin chain. This decentralization enables smooth, secure, and scalable operations, while maintaining a high level of trust among all stakeholders.

Source: mil.k whitepaper

The trading model enhances user convenience and system efficiency. Instead of facilitating peer-to-peer transactions between users, the platform acts as a counterparty for all Brand Token trades. An algorithm determines the price of each Brand Token based solely on its supply and demand, independent of MLK’s price on external exchanges. This setup eliminates the complexities of matching individual buyers and sellers, making transactions seamless and predictable.

By separating Brand Tokens from Mil.k Coins and structuring the system around market dynamics, MiL.k delivers a stable, transparent, and user-friendly platform that maximizes the value of loyalty points across industries.

MiL.k has introduced LoungeM (LZM), a premium membership token aimed at boosting user engagement and loyalty. LZM reflects user contributions on the platform and serves as both a scoring metric and a tradable digital asset. Users earn LZM by participating in MiL.k activities such as reward trading, staking, and token events. LZM grants access to exclusive VIP services and benefits while enhancing collaboration with partner brands. By leveraging LZM, MiL.k fosters customer loyalty, improves targeted marketing, and strengthens its ecosystem.

MiL.k Use Cases

MiL.k aims to revolutionize the loyalty rewards landscape by enabling seamless integration, trade, and utilization of reward points across diverse industries. By leveraging blockchain technology, the platform offers users and businesses unprecedented flexibility and efficiency in managing and using loyalty points. Below are three primary use cases for MiL.k:

• Reward Points Conversion and Interoperability: MiL.k allows users to convert reward points from various service providers, such as airlines, hotels, and retailers, into Mil.k Coins. These coins can then be traded or redeemed for other services within the MiL.k ecosystem, enhancing the usability of points that might otherwise go unused. For instance, a user can trade airline miles for shopping points or vice versa, creating a fluid and interconnected rewards system.
• Cross-Industry Marketing and Customer Engagement: Businesses partnering with MiL.k benefit from co-marketing opportunities and access to a shared customer base. By offering rewards through Mil.k Coin or Brand Tokens, companies can attract new customers while maintaining loyalty among existing ones. This ecosystem encourages collaboration between service providers and fosters customer retention through integrated loyalty strategies.
• Seamless Transactions with Blockchain Security: MiL.k’s blockchain-powered infrastructure ensures transparency, security, and efficiency in all transactions. Users can trust that their data and reward points are secure, while businesses benefit from reduced fraud and operational inefficiencies. The integration of smart contracts automates processes like point conversion, redemption, and payments, providing a streamlined and trustworthy experience.

MiL.k Main Features

MiL.k redefines the loyalty rewards industry by combining blockchain technology with a unique tokenized ecosystem, creating a platform that benefits service companies and customers. Below are its key features:

The Brand Token Transaction System and Mil.k Coin

MiL.k tokenizes mileage points as Brand Tokens, vastly expanding their usability. Mil.k Coin is the sole payment method for trading Brand Tokens, enabling users to combine, cash out, or obtain discounts on their loyalty points. Brand Token prices remain unaffected by Mil.k Coin’s external market fluctuations, ensuring transaction stability and predictable value. This system empowers users with increased flexibility, seamless point conversions, and enhanced transparency, offering unparalleled utility compared to conventional loyalty programs while fostering trust and engagement within the growing MiL.k ecosystem.

Ensuring Stability, Reliability, and Security for Service Companies

MiL.k’s blockchain architecture isolates each service company’s Brand Token, preventing data breaches, token manipulation, or unauthorized access. By separating Brand Token transactions from Mil.k Coin’s external price, service companies remain unaffected by cryptocurrency volatility, enabling predictable and secure operations. This structure ensures the platform’s reliability, stability, and security while fostering trust among participating companies. Service providers benefit from enhanced customer engagement, streamlined loyalty programs, and better data management without compromising sensitive business operations, solidifying MiL.k as a robust, scalable, and efficient solution for loyalty management in the evolving digital economy.

Providing Clear Benefits to Customers

MiL.k offers customers multiple advantages, including consolidating, exchanging, or cash out mileage points before expiration, ensuring no rewards are wasted. Additionally, users purchasing Mil.k Coin on external exchanges enjoy discounts when using it to buy Brand Tokens, enhancing the value of their points. This dual benefit increases the usability of otherwise limited mileage points and provides a seamless, user-friendly experience for managing loyalty rewards. By integrating flexibility, discounts, and accessibility, MiL.k becomes an essential tool for maximizing loyalty rewards while simplifying customer processes across various industries.

Mil.k Coin’s Intrinsic Value

Mil.k Coin holds intrinsic value as the platform’s exclusive payment method, offering customers consistent discounts on Brand Tokens, ensuring financial benefits. As the platform grows with new service companies and increasing transaction volumes, the demand for Mil.k Coin rises proportionally. Additionally, its role in seamless point conversion enhances user convenience. This value-driven design fosters ecosystem growth while incentivizing Mil.k Coin adoption among a diverse user base. By enabling efficient, cost-effective loyalty point transactions, Mil.k Coin creates a sustainable and dynamic marketplace that benefits both service providers and customers, driving widespread participation and long-term ecosystem success.

Source: milkalliance.io

What is the MLK Coin?

MLK Coin is the utility token enabling loyalty point transactions on MiL.k platform. Its maximum supply is capped at 1.30 billion units, of which 408.28 million (31.40%) are already in circulation (December 2024).

Acting as the platform’s primary currency, MLK allows users to trade their accumulated rewards, such as mileage points or loyalty credits, for goods and services or convert them into cash. Businesses leverage MLK to engage and retain customers more efficiently, creating a mutually beneficial environment.

MLK’s distribution strategy ensures platform sustainability. Around 28% of the token supply is allocated for liquidity through TICA, the platform operator, to maintain stable Brand Token transactions. Approximately 11% is reserved for user rewards, incentivizing activities like account connections and trading, fostering an active ecosystem. Partner companies receive 37% of the tokens for long-term lock-up and contributions, enabling seamless integration of their loyalty systems into the MiL.k platform. The remaining supply supports operational expenses and initial platform development.

Source: medium.com/milk-official-blog/

A standout feature of MLK is its flexibility. Users can acquire MLK on public crypto exchanges or directly within the MiL.k ecosystem. The token enables loyalty point conversion between service providers or redemption for cash, expanding the utility of rewards beyond traditional limitations. Its price stability for on-platform transactions ensures predictable exchanges regardless of MLK’s external market fluctuations, making it reliable for users and businesses.

In bridging blockchain innovation with real-world applications, MLK transforms loyalty programs into a unified, user-friendly marketplace, driving engagement, efficiency, and value within the lifestyle and travel sectors.

Is MLK a Good Investment?

MLK offers a promising use case by integrating loyalty programs across industries, enhancing the utility of reward points while fostering partnerships with major companies. Its innovative dual-token system and blockchain-backed security provide a reliable and versatile platform for users and businesses. However, a potential downside lies in its dependency on widespread adoption; limited participation by service providers could hinder its growth and overall value. As with any cryptocurrency, market volatility and external factors could impact its performance, so thorough research is essential before investing.

How to Own MLK?

To own MLK, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account and get it verified and funded. Then ,you are ready to go through the steps to buy MLK.

News on MiL.k

According to what was released on July 11, 2024, by PRNewswire, Milk Partners, the operator of the MiL.k platform, has entered a strategic collaboration with AirAsia Rewards and The Sandbox. The partnership aims to revolutionize loyalty rewards by engaging global users through Web3-exclusive metaverse events. Announced at AirAsia MOVE office in Kuala Lumpur, the collaboration leverages AirAsia Rewards’ extensive 33-million-member network and The Sandbox’s immersive blockchain platform. Together, the companies plan to deliver innovative user experiences, expand MiL.k’s global presence, and offer real benefits through co-marketing initiatives in the evolving Web3 space.

Useful References

For the latest updates about MiL.k, you can visit:

• The official website
• X
• Telegram
• Medium

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