SHPING

About SHPING (SHPING)

SHPING (Shping Coin) is an Ethereum-based ERC-20 token that brands use to reward shoppers inside the Shping app, an Australian product-scanning and shopper-marketing platform. Users scan product barcodes to see verified product information, reviews and recall status, and they can earn SHPING for engaging with brand content. The token matters because it is one of the older examples of a crypto reward sitting inside a real consumer retail app, with brands paying for attention directly instead of through search or social advertising.

What Is SHPING?

Shping is a mobile app and platform that connects brands with shoppers at the point of purchase. The official coin page describes the goal as "tokenizing retail rewards, discounts, and loyalty", turning "shoppers' footprints into a new on-chain asset class". Brands, retailers and certification bodies fund campaigns in SHPING, and shoppers who scan products, review them or view brand content receive the token as a reward.

The original whitepaper describes the Shping Platform as built around a Global Product Database fed by sources such as GS1 (the organisation that manages global barcode standards), product recall portals and Everledger, so that a single barcode scan can show authenticity, safety and review data.

Who Founded SHPING? (History)

According to the Shping Coin token sale whitepaper (version 1.3, January 2018):

• Gennady Volchek founded Shping in 2012 and served as CEO. The whitepaper describes him as a serial entrepreneur who previously founded My Telecom in Australia.
• Andrei Kucherov served as CTO and had been with the company since its founding.
• Shping evolved from Authenticateit, a product-authentication business, and the platform was launched in public beta on 30 June 2017.
• The company was headquartered in Melbourne, Australia, with offices in Singapore, Beijing and Moscow at the time.

The token sale ran from 22 January 2018 to 23 March 2018. The coin was created and distributed by Shping Pty Ltd, while the platform was operated by Authenticateit. The current website lists Shping Holdings Pty Ltd (Australia) as the operating entity. Shping published a Version 2.0 whitepaper in 2022, available from the official coin page.

How SHPING Works

1. Brands fund campaigns Brands and retailers buy or hold SHPING and set up campaigns inside the Shping app.

2. Shoppers engage Users earn SHPING by scanning or entering barcodes, registering, rating and reviewing products (with text, video or photos) and viewing product information and brand content, as listed in the whitepaper.

3. The platform tracks rewards The Shping Platform records the tokens earned for each campaign and credits them to users.

4. Tokens move on Ethereum Because SHPING is an ERC-20 token, withdrawals and transfers are Ethereum transactions, and the whitepaper notes that users cover the Ethereum network fee for transfers.

Key Ecosystem Components

• Shping app: barcode scanning, product information, reviews and rewards.
• Global Product Database: product data consolidated from brands and authorities.
• Shping Media for Brands: the business-facing marketing division named on the website.
• Shping Insiders: an ambassador program that, per the official coin page, offers early app access and regular token airdrops to contributors.
• SHPING token: the ERC-20 reward currency, with code published at github.com/shping.

SHPING Token Utility

• Reward currency for shopper actions inside the app.
• Campaign budget for brands, retailers and certification authorities that want to reach shoppers.
• Loyalty and discount layer, which the current site frames as tokenized retail rewards.
• Community incentives through the Insiders ambassador program.

The 2018 whitepaper set the token supply at 10,000,000,000 SHPING and allocated 42% to a Shping App Incentive Reserve used to reward users and grow the platform, with unsold token sale coins added to that reserve. The remaining supply was split between token sale purchasers and other allocations described in that document.

What Makes SHPING Unique?

SHPING's distinguishing feature is its link to physical products. Rewards are triggered by activity around real barcoded goods on supermarket shelves, backed by recognised data standards such as GS1, rather than by purely on-chain activity. This gives brands a measurable way to pay consumers for attention, and gives shoppers a reason to check authenticity and recall information.

How SHPING Differs from Similar Projects

• Versus Basic Attention Token: BAT rewards attention to ads inside the Brave browser; SHPING rewards attention to brands at the point of sale in a shopping app.
• Versus Sweat Economy: both are consumer "earn" apps, but Sweat rewards physical activity while Shping rewards product engagement.
• Versus supply-chain data networks such as Chainlink: SHPING is a consumer reward token, not infrastructure for delivering data to smart contracts.

Use Cases of SHPING

• Shoppers earning tokens for scanning and reviewing products.
• Brands running direct-to-consumer promotions without relying on search or social ad platforms.
• Consumers checking product authenticity and recall status before buying.
• Community members earning airdrops through the Insiders program.

How SHPING Is Secured

SHPING is an ERC-20 token on Ethereum (contract 0x7c84e62859d0715eb77d1b1c4154ecd6abb21bec), so balances and transfers are secured by Ethereum's proof-of-stake consensus and can be verified on Etherscan or Ethplorer. Reward accounting inside the app is handled by Shping's centralized platform, so users rely on the company for in-app balances until they withdraw to a personal wallet.

Risks and Considerations

• Company dependence: token demand relies on brands continuing to fund campaigns through Shping.
• Reward supply: a large incentive reserve is distributed to users over time, which adds tokens to the open market.
• Transfer costs: Ethereum network fees can be large relative to small reward balances.
• Regional reach: app features and brand campaigns vary by country.
• Documentation age: the most detailed token figures come from the 2018 whitepaper; check the Version 2.0 whitepaper for later changes.

Why SHPING Matters

SHPING is a long-running test of a practical crypto use case: paying ordinary shoppers in tokens for their attention and product feedback. Its combination of barcode data standards, brand campaigns and a public token shows how blockchain rewards can plug into everyday retail rather than staying inside crypto-native apps.

Where Can You Buy SHPING?

The official Shping coin page links to SHPING markets on Coinbase, Gate, Poloniex, BitMart and TimeX, and to the decentralized exchanges SushiSwap and Uniswap on Ethereum. Check availability in your region on the exchange itself.

Major Centralized Exchanges (CEX)

• Coinbase
• Gate
• Poloniex
• BitMart
• TimeX

(All linked from the official Shping coin page.)

Storage Options After Purchase

As an ERC-20 token, SHPING can be stored in any Ethereum wallet, such as MetaMask or Trust Wallet, or on a hardware wallet such as Ledger or Trezor. Add the token using the contract address above. Tokens earned in the Shping app stay in the app until you withdraw them to your own wallet, which requires paying the Ethereum network fee.

Related Coins

• Basic Attention Token (BAT)
• Sweat Economy (SWEAT)
• Hivemapper (HONEY)
• Chainlink (LINK)