What is MiL.k (MLK)? Everything You Need to Know!

Bittime - Amid the growth of the digital lifestyle market—including the travel, leisure, and shopping sectors—loyalty points have become a key tool for attracting customers. 

However, traditional systems are often fragmented and lack flexibility. MiL.k is present as an innovative solution by using blockchain technology to integrate and exchange reward points between service platforms.

Read more about MiL.k (MLK), starting from what it is, how it works, the token system that applies to its potential as an investment.

What is MiL.k (MLK)?

MiL.k is a blockchain-based rewards platform that allows users to convert and trade loyalty points from various companies in one ecosystem. 

Launched in 2020 by a team led by Jung-min Cho, MiL.k connects companies such as Yanolja, AirAsia and Shinsegae Duty-Free, and expands its reach to more than 1.3 million users by 2022.

With new integrations every year, including with Lotte Members, OK Cashbag, and The Sandbox in 2024, MiL.k continues to demonstrate strong growth and cross-industry synergies, strengthening its position in Asia and entering the Web3 world.

Also read: Holding Investment Plans in XRP ETF, Teucrium Says It Could Drop to Big 0!

How MiL.k Works 

MiL.k consists of three main components: the platform operator (TICA), partner service companies, and customers. TICA is tasked with maintaining the liquidity of the MLK token and ensuring an efficient trading market. 

Partner companies issue Brand Tokens (BT), digital loyalty points that can be converted to MLK. Customers can convert their points to BT, then to MLK, or vice versa.

The platform architecture is supported by Luniverse technology, using Hyperledger-based side chains to ensure scalability and security. All transactions are recorded transparently via blockchain, and the conversion process is controlled by automated smart contracts.

Sistem Token Ganda: Brand Tokens dan Mil.k Coin

MiL.k uses a dual token system consisting of:

• Brand Tokens (BT): Digital representation of each company's loyalty points.
  
   
• Mil.k Coin (MLK): The primary utility token traded on an external exchange and used to purchase BT within the platform.

This system provides flexibility and security. BT price is determined by an internal supply-demand algorithm, unaffected by MLK price volatility in the crypto market.

Also read: Babylon Airdrop: How to Get $BABY Tokens

Features of MiL.k

• Interoperability Points: Users can exchange hotel points for shopping discounts or flight points.
  
   
• Blockchain Security: Guarantee data privacy and prevent fraud.
  
   
• Stable Conversion: Conversion prices between tokens are set algorithmically.
  
   
• LoungeM Membership Token (LZM): Provides VIP access, exclusive benefits, and deeper community engagement.
  
   

MLK Coin and Its Distribution

MLK has a total supply of 1.3 billion tokens, with 31.40% already in circulation (as of December 2024). 

Token allocation includes:

• 28% for TICA liquidity
  
   
• 37% for partner companies
  
   
• 11% for user rewards
  
   
• The rest is for operations and development
  
   

MLK can be purchased on related exchanges as well as used for conversion of points, discounts, or withdrawals to cash.

Real Use Cases

• Multi-Platform Points Conversion: Combine hotel, airline and retail points in one digital wallet.
  
   
• Integrated Loyalty Program: Businesses can increase customer engagement with MLK-based incentives.
  
   
• Secure and Scalable Blockchain Ecosystem: Supports millions of transactions quickly and efficiently.
  
   

Is MLK a Good Investment?

MiL.k offers a real solution in the fragmented world of digital rewards and loyalty programs. With strategic partnerships, strong blockchain infrastructure, and steady user growth, MLK shows promising long-term potential. 

However, as with all crypto assets, it is important to consider market volatility before investing.

 FAQ 

1. What is MiL.k?

MiL.k is a blockchain-based platform that allows users to exchange and combine loyalty points from various services such as travel, hotels, shopping and entertainment, in one integrated ecosystem using the MLK token.

2. What is the main function of the MLK token?

MLK functions as a utility token used to:

• Exchange loyalty points from various brands (Brand Tokens)
  
   
• Get exclusive discounts or benefits within the MiL.k ecosystem

3. What is the difference between MLK and Brand Token (BT)?

• MLK (Mil.k Coin): A blockchain-based primary token that can be traded globally.
  
   
• Brand Token (BT): A digital representation of a brand's loyalty points, such as Yanolja Coin or AirAsia Point, which can be exchanged for MLK.

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Reference

Gate Learn, What is MiL.k? All You Need to Know About MLK, accessed April 9, 2025.

The Big Whale, What is MiL.k? , accessed April 9, 2025.

Author: SD