What's the process to redeem credits earned on inLab?

inLab’s unique Credit Rewards System (CRS) offers participants a tangible means to recognize and reward their efforts. Whether it’s through eCredit (for engagement), vCredit (for validation), or pCredit (for participation), each credit type can be redeemed or utilized within the inLab ecosystem or with its partners. Here’s a breakdown of the process and possibilities.

Earning Mechanisms:

1. eCredit (Engagement):
   • Earned by attending webinars, participating in discussions, or consuming educational content on inLab.
   • Example: Jane, a researcher, logs into inLab daily and joins several discussion forums. Over a month, she accumulates a significant amount of eCredits.
2. vCredit (Validation):
   • Awarded when users validate or review the work or findings of others.
   • Example: Ravi, an expert in sustainable energy, reviews a newly submitted research paper on inLab and is awarded vCredits for his effort.
3. pCredit (Participation):
   • Earned by actively taking part in research, development, or policy programs.
   • Example: Maria collaborates on a major policy initiative through inLab, and at the project’s conclusion, she’s awarded pCredits.

Redemption/Utilization Process:

1. Account Overview:
   • Users can view their accumulated credits in their inLab dashboard, segmented by eCredit, vCredit, and pCredit.
2. Redemption Catalogue:
   • A curated list of opportunities and offerings against which credits can be redeemed.
   • This could range from accessing premium research papers, attending exclusive events, getting tools or software licenses, or even availing discounts with inLab’s partner organizations.
3. Select & Confirm:
   • Users select their desired redemption option, confirm the number of credits to utilize, and proceed with the transaction.
4. Verification:
   • inLab’s system verifies the transaction, ensuring the user has sufficient credits for the chosen redemption.
5. Digital Assets & Services:
   • If the redemption involves digital assets like research papers, software licenses, or exclusive content, users receive instant access or download links.
   • Example: John uses his vCredits to get a premium software tool available on inLab’s platform. Upon redemption, he immediately receives a license key.
6. Physical Goods & Events:
   • For physical goods or event entries, users may need to provide additional details or undergo a brief verification process.
   • Example: Emily uses her eCredits to book a seat at an inLab exclusive conference. She provides her details, and inLab sends her the event pass.
7. Partner Ecosystem:
   • Some credits might be redeemable with inLab’s partner institutions or platforms, expanding the avenues of benefits for users.
   • Example: Alex redeems his pCredits for a discount at a partnering tech store, availing a significant reduction on a new gadget.

Note on Expiry and Limitations:

• Users are encouraged to periodically check the terms associated with each credit type. Some credits may have expiration dates, or there may be monthly/annual caps on specific redemptions.

The Credit Rewards System at inLab provides an innovative way to acknowledge the contributions and engagements of its users. By creating a versatile redemption process, inLab ensures that participants not only benefit intellectually and professionally from the platform but also enjoy tangible rewards that can enhance their overall experience and growth.