What is LoungeM ($LoungeM)?
MiL.k membership is a customer loyalty improvement program / tool with purposes of strengthening partner brand collaborations and invigorating user activities on the MiL.k platform. To provide premium service and special benefits to users with high level of contribution to the platform, MiL.k is introducing MiL.k membership level system along with the membership token LoungeM (LZM), which will be newly issued to serve as a measurement of customer contribution.
LoungeM(LZM) is the 'Membership token' that is the center of MiL.k's premium membership program. LZM is used to assign of membership grade assessments, and benefits based on grade of membership in MiL.k app. The membership token allows MiL.k users to have access to exclusive benefits and services, and the more tokens they hold, will assign higher grade of membership and the more benefits will receive.
On top of reward points integration with Milk Coin (MLK), which was listed in February of 2020, new membership program aims to further improve MiL.k service by providing additional benefits to contributors of the platform. MLK is used as a base currency for point exchange in the blockchain-based point integration platform Milk App. Users can integrate their unused points with MiL.k app and exchange to MLK for convert to mobile voucher or exchange to the other partner's points.
Through the Milk platform, users can enjoy high utilization value of their points with discount benefits, and partners will get customer satisfaction and new user acquisition effects. As a result, Milk has expanded its partnership with the top-tier local platforms within two and a half years after its launch and has acquired over 1.3 million users.