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Red Packet - Cover Image
About us
Red Packet aims to gamify and make it easier to send gifts to their friends and family. It will also create a network effect and onboard the next billion people to web3 and blockchain. We are a multichain project and currently live on Polygon Mumbai, Celo, Cronos, Gnosis, Neon, and Ethereum
Inspiration
In East Asia, a Red packet is a monetary gift given in a red envelope during holidays or for special occasions. During the Chinese New Year holiday in 2014, the messaging app WeChat introduced the ability to distribute virtual red envelopes of money to contacts. Over 32 billion virtual envelopes were sent over the Chinese New Year holiday in 2016. Similar to WeChat, we aim to be one of the major reasons for the adoption of crypto payments around the globe.
What it does
Red Packet aims to gamify and make it easier to send gifts to their friends and family. It will also create a network effect and onboard the next billion people to web3 and blockchain. We are a multichain project and currently live on Polygon Mumbai, Celo, Cronos, Gnosis, Neon, and Ethereum.
How we built it
Our current functionality includes anyone to create an envelope containing money, message, and participant's limit. They can share the link to the envelope with anyone in their network. It is similar to sending a gift to someone. People can come and claim their gifts. The gift distribution is completely random, and the envelope will be empty once the participant limit has been reached - The last participant will get all the remaining money.
The creator of the envelope can also put a time limit on each envelope, and if there is still money in the envelope after the deadline is passed, they can withdraw the remaining amount themselves.
Challenges we ran into
Neon does not accept payments in the same way as other chains, and the create envelope function from our smart contract fails while interacting with the chain.
Accomplishments that we're proud of
We are successfully live on 6 chains, and we are deployed and verified on all of them
What's next for Red Pocket
Red Packet has so many use cases in the future. One such use case is explained here - Right now, many brands hire influencers and pay them a hefty amount to promote it to their audience. But they can’t track the conversions. Using Red Packet, they can directly use their influencer funds to invite more users to their platform and distribute the money to the end user. This model is way more effective, and brands will get full value for their funds.
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