Developer Spotlight - $SHOP token

Rally Community,

The Rally core team has been working with the $SHOP team for many months now to enable a tokenized B2B2C experience for online brands and their customers. Using our previously approved Developer Bounty Program, we have granted the $SHOP team 500k worth of $RLY to execute on the below vision and roadmap.

The $SHOP project will lead to several tokens being launched directly on that will later be bonded to a $SHOP token launched on the Rally Network. Some of these coins on may be some of the biggest coins we’ve ever launched due to the size of some of $SHOP’s initial customers and roll out plans. We are incredibly excited about this opportunity based on the reasons outlined below and wanted to showcase the project with the Rally community and introduce the $SHOP team in case folks want to ask questions and learn more. See below for an intro video and a detailed overview of the project.

Phil Roselli - $SHOP Overview (Video) (note: having upload issues but should work if you download it)


$SHOP enables retailers to tokenize their points-based loyalty program to improve long-term working capital, increase customer lifetime value, reward employees, and acquire new customers.

One day, not having a token will be like not having a mobile website. In some ways, it’s even more natural for a retailer to have their own cryptocurrency, since many already have a currency in the form of an often lame loyalty program.

By building their loyalty program as a cryptocurrency, retailers will now be able to align incentives with their customers, acquire new customers, and access global crypto communities.

Our project will also address nuances retailers face when launching a loyalty program, ranging from systems integration with e-commerce platforms, accounting, marketing and rewards management, which is exactly what this new ecommerce venture in partnership with the Rally Network community will tackle.


Shoptoken is backed by Justin Yoshimura, who is the founder/CEO of CSC Generation, a $1B start-up, and seed investor in a handful of pre-IPO start-ups including Wunderkind, Dave, Mux, and Imperfect Foods. Prior to CSC, he founded 500friends, the leading SaaS loyalty platform (customers include Sony, Loreal, Michael Kors, Eddie Bauer, Abercrombie, 1800flowers), which was acquired by Merkle.

ShopToken’s founding PM, Phil Roselli, spent 17 years in the financial industry and was a Product Manager at Bank of Montreal, where he developed his passion for crypto.

Product Roadmap

Overview of launch

All retailers onboarded through $SHOP will have their own tokens launched on $SHOP will launch on the Rally Network but not on for now to constrain variables.

Overview of what $SHOP is doing at the Rally Network level

ShopToken will enable retailers to launch a premium/paid loyalty program based on loyalty tokens where customers will pay an annual membership to unlock the ability to earn cash back in the brand’s own cryptocurrency with each order, which they can hold, sell or redeem for merchandise.

The business model for $SHOP is similar to in that we will be launching our own token, called Shop Token, whose economy will drive real transactions and usage in the network.

Since retailers who launch their brand token will be bonded to the Shop Token, and the Shop Token will be bonded to Rally, it will drive value to the Rally Network.

We have three brands lined up to launch in the next quarter that together make over $400 million in revenue. Our API is fairly advanced in development, and we’ve now started creating a consumer-facing rewards app that can be easily installed in any e-commerce store.

The administration of the reward program, accounting and treasury management is done through a merchant portal.

Future phases

Our long-term vision is an open rewards ecosystem where consumers can earn and exchange brand tokens on the blockchain any time, anywhere in the world.

  • Phase 1- Development of a native loyalty and rewards application for BigCommerce, Shopify, and Salesforce, through which a large share of the global ecommerce market is accessible excluding Amazon.
  • Phase 2- Make the ShopToken API and SDK available to sophisticated retailers who prefer to design their own user experience.
  • Phase 3- Expand to the travel industry where some of the largest opportunities for tokenized loyalty exist.

Key dates

  • July - Development partnership with BigCommerce established
  • September - Launch MVP and first brand token on, $ZGLD
  • October 2021 - $SHOP launches on Rally Network and $ZGLD is nested under $SHOP as a subtoken
    • Dependent on Rally Network’s nested subcoin capability currently in development
  • Late 2021 - Potentially expand to 1-2 more brands in time for the holidays to take advantage of high volumes; $SHOP achieves product-market fit
  • Early 2022 - Publish ShopToken app on the BigCommerce app store including a marketing campaign to thousands of retailers
  • Late 2022 - Launch ShopToken app on the Shopify app store (notional)


Initial customers


  • BigCommerce Marketplace - 60,000 merchants in over 150 countries, ShopToken is a technology partner
  • Top ecommerce platforms, e.g. Shopify, Magento and Salesforce

Projected transaction volume

We are projecting 10,000 to 20,000 transactions per month by the end of the first year.

$SHOP is a fantastic example of how the Rally Network / can be extended to brands, not just creators and communities. More details will be provided as the project rolls out, but feel free to ask questions to the $SHOP team!


Thank you, @mvellank. The Rally team has been extremely supportive from day 1. Our team is excited and grateful for the opportunity to apply for the Rally Grant and to be part of the Rally Network.

We’re happy to answer any questions we can.


Great to see a new type of token / creatorcoin usecase with brands & e-com taking off! Really curious to see how this further develops, not only with Rally, but broader in the market as well with loyalty programs and such.

Have there been placed any specific KPI’s and/or transaction targets for the SHOP team and/or the initial customers, in order to prevent “something being developed / costs being made, but not being used”?

1 Like

Thanks for your question, @Markovic.

As the Rally team is aware, our test showed that one in five online shoppers had an interest in a paid loyalty program where they can earn crypto.

The main KPIs will be offer conversion rate, sign-ups and purchases made by redeeming members. The target set with our first customer is to get 1,000 loyalty member sign-ups in 90 days.


Hi everyone,

We wanted to provide an update here to anyone who missed yesterday’s Creators & Devs meeting and send a big thanks for the positive feedback we received via chat and DMs.

What has SHOP been up to?

Since our first token, ZGLD, launched in September, over 3,400 RNB transactions have been made on the SHOP application including Black Friday and Cyber Monday.

ShopToken is leveraging crypto to make loyalty programs more valuable for both company and user:

  • Enables every brand to launch their own digital token and NFTs nested under our token
  • For the first time, brands can now align incentives with their best customers, influencers, and employees, who share in the upside of networth growth.

What is unique about SHOP?

There hasn’t been any innovation in the loyalty space since the stamped coupon was invented 140 years ago.

Traditional loyalty programs are massive but antiquated:

  • Continuously decline in value as their creators debase their points, which is completely at odds with the goal of rewarding their best customers
  • Loyalty programs only focus on customers, when a big opportunity exists to include employees
  • Fans outside of the US are hard to monetize
  • Loyalty management is a $10B+ industry, but as it stands it pits the company against the customer for who captures the dollar
  • Boring and lame

Is SHOP an app or service?

It’s both:

  • ShopToken launched an app for the BigCommerce platform and is planning to release apps for all major ecommerce platforms, including Shopify
  • Sophisticated brands who use a custom platform will be able to install the ShopToken SDK and inject JS code snippet to implement our API with their own custom user interface, like Stripe
  • The ShopToken platform will have a merchant portal where loyalty program administrators will be able to view metrics, member activity and perform treasury operations based on market conditions

Has SHOP had conversions?

Yes, the conversion rate for SHOP is holding at 21.5% since the first loyalty program launched on 11/8 with, meaning that 1 in 5 customers have paid $79 to unlock the benefit of earning ZGLD with every purchase.

In addition, our preliminary analysis shows that user engagement with a crypto loyalty program is much higher than points because users check their account balance and redeem more often to lock in value.

How is SHOP driving utility for the network?

SHOP was built to align incentives for all participants

  • Instead of competing for margin, both users and the company want to increase the value of the network
  • Outside of the loyalty program, ZGLD holders in general will be able to redeem tokens for store credit at a discount and get free interior design sessions (coming soon)

How is SHOP driving new account growth?

By materializing web3 use cases for loyalty, employee engagement and affiliate programs that remove friction for non crypto-savvy consumers and online shoppers

  • Most SHOP end- users have owned crypto for the first time when they enrolled into our program

  • Every new user account created in ShopToken will have an Rally Network Backend (RNB) account, including consumers and employees

  • Since retailers who launch their brand token will be bonded to SHOP, and SHOP will be bonded to RLY, every new token will drive value to the Rally Network.

  • SHOP brands will have a communication playbook to introduce their tokens to their followers (Z Gallerie has 2M followers) and grow the economy through token giveaways, exclusive promotions and bounty campaigns

Useful links