What is MiL.k (MLK)?

Deep Dive

1. Purpose & Value Proposition

MiL.k solves the inefficiency of isolated loyalty programs by letting users convert points from partners (e.g., hotels, airlines, convenience stores) into MLK tokens. This creates liquidity for otherwise underutilized rewards, allowing users to trade points at discounts (5–40%) or stake MLK for yields. For businesses, it drives engagement by pooling customer incentives across sectors.

2. Technology & Architecture

Originally built on Hyperledger Fabric, MiL.k migrated to a hybrid model with WMLK (wrapped MLK) on Ethereum for interoperability. The platform uses blockchain to ensure transparent, secure point transactions while encrypting sensitive partner data. Recent upgrades include the USD1 Loyalty Hub on BNB Chain, linking MLK to real-world rewards via decentralized exchanges like PancakeSwap.

3. Ecosystem & Differentiation

MiL.k’s ecosystem spans 1.5M+ users and partners like CU (Korea’s top convenience store) and Yanolja (travel giant). Unique features include:
- MiL.k Step: Earn MLK by walking or visiting partner stores (launched December 2025).
- NFT Integration: Collaborations with artists for limited-edition rewards (e.g., CU’s NFT raffles).
- Cross-Border Use: MLK facilitates global point redemption, such as converting Korean travel points into Southeast Asian service credits.

Conclusion

MiL.k bridges Web2 loyalty programs with Web3 flexibility, using MLK to unlock value in fragmented reward systems. Its success hinges on partnerships and real-world utility—can it scale its model globally while maintaining user incentives amid evolving blockchain adoption?