AMA Recap: CRYPTO MINERS X SND.XYZ

Snd.xyz is a web3 social platform which came with the Post2Earn and fully decentralized. You can earn passive income for posting content. That’s right, post-to-earn. Doesn’t it look promising! Just post and get rewarded in $snd. You can mint your posts as NFTs.

We hosted an AMA session with snd.xyz on 27th May.

Mr. Ramsy was the host from Crypto Miners and Mr. Ismael and Mr. Amir, co-founders of snd.xyz was the guests. They shared delightful knowledge and unique features of snd.xyz
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 and welcome to the Crypto Miners AMA session With SND.xyz

To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr Ismael and Mr Amir

Ismael Hishon-Rezaizadeh:
Hello everyone!

Amir:
Hello everyone. Very exicted to be here

Ramsy | Crypto Miners:
Hey guys 👋

Welcome here
Thanks for bringing Us SND.xyz❤️

Amir:
Thank you for having us here

Ismael Hishon-Rezaizadeh:
Glad to be here. Looking forward with sharing more about ourselves and our project with this amazing community!

Ramsy | Crypto Miners:
I’m pretty sure that our Community is very much excited to learn more about SND.xyz ✌️

So let’s get started if you guys are ready!!

Ismael Hishon-Rezaizadeh:
We’re ready when you are 🚀

Amir:
We are ready

Ramsy | Crypto Miners:
So let’s go 🚀

1) Can you briefly introduce yourself as well as SND? and from where you get the project name? What does it mean to you? And why you choose this name for your project?

Ismael Hishon-Rezaizadeh:
Hi everyone. My name is Ismael. I am a cofounder of SND Labs. I cut-my-teeth in the crypto space by heading up DeFi engineering for a large multinational financial services company Manulife Financial Services (John Hancock Life Insurance, USA). My team built early on-chain life insurance and reinsurance products that could be deployed on public chains. I then spent a period of my career working as a venture capitalist at Renegade Partners.

SND grew out of us talking about web3, decentralization, and social media late November/early December of last year. We believed blockchain and what it enables in terms of governance, monetization, and content sovereignty, could be the next evolution of social media.

Amir:
I am Amir. II started with computers in the early 80s as a kid and studied computer engineering before going to Harvard Law School and becoming a patent lawyer. My career grew with the growth of the Internet from “what is this Internet thing” in the early 90s to the dot com boom and bust and so on. I can tell you stories but we’re here for SND.

As to the project name, SND is short for “send.” We wanted a three letter name. So we shortened “send” to “snd.”

For us “SND” has two meanings — one is the obvious one: sending a message to the world out there when you create something.

The SECOND meaning is a a more personal one, is “sending it” as in taking a chance. You hear it in F1 races. “Max or Lewis or whoever totally sent it at turn 4.” Ayrton Senna said, “if you no longer go for a gap that exists, you’re no longer a racing driver.”

As entrepreneurs, when you see a gap, you gotta send it. That’s the other meaning of SND.

Ramsy | Crypto Miners:
Thanks guys for this great start 👌

Now let’s see our second question from this segment

2) Could you please give a brief intro to the key features of SND? What are the advantages offered ?

Ismael Hishon-Rezaizadeh:
We always had it at the forefront of our thinking “why would someone leave web2 social media for web3?”

First, we have to remember that social media users are different than when the web2 social media platforms came about. The users now see themselves rightfully as content creators. They create news, dance videos, art, philosophical discussions, jokes, etc. They have seen companies and their founders get rich on their back. They are more sophisticated than 10–15 years ago. They want control over their content, they want a bigger share of the money.

Amir:
As for advantages, Snd.xyz users own their content and can monetize it however they wish. Every time they post, they earn $SND tokens as a reward. They can use these tokens to vote on moderation and governance as members of the SND DAO. So if you join in building the SND community, you share in the financial upside that is created and will have a voice in governance and moderation.

Ramsy | Crypto Miners:
3) Tell us, What is your mission and vision to build this project? What you want to achieve through your project in future?

Amir:
We’ve built SND not because “it is cool to put social media on blockchain” but because it makes logical sense to put social media on blockchain. It makes sense for the content creators, for our community members, for our token holders, for everyone. We have built something that will have commercial viability and sustainability in the long run. Everyone will share in the upside they create through using social media, rather than one large centralized corporation.

Ismael Hishon-Rezaizadeh:
When we looked around to see what is out there, what the market would be, and what pitfalls and mistakes other web2 and web3 decentralized platforms have fallen into, one of the first things that we became concerned with was the potential for illegal activities or spam in a totally unregulated social media on a blockchain. That is not a problem for a hackathon project, but for a sustainable business venture, it is a major problem. Illegal content. Spam produces enough unwanted white noise to bury real content and make it hard for content creators to be heard and to monetize.

In short, our vision is for social media where users can earn passive income from using social media AND to have a voice in how their digital speech is governed.

Ramsy | Crypto Miners:
Moving on…

4) Now Share us about your native token, What are the some of utilities of $SND Token in Your Ecosystem?

Ismael Hishon-Rezaizadeh:
Our tokenomics are tightly tied to our ecosystem and the usage of the snd.xyz application. Every time a user posts they are required to stake an $SND token to verify that their content isn’t spam or illegal. If the content isn’t removed by an elected moderator, then they get their stake back PLUS additional $SND tokens as a reward. This is the core of post-to-earn.

Amir:
$SND tokens are also used to vote as part of the community on how the protocol is governed and moderated. The community of token holders can delegate moderators and set moderation guidelines.

The majority of $SND tokens are owned by the community and early-adopters. A small portion of vesting tokens is owned by the snd.xyz core team.👍

Ramsy | Crypto Miners:
Alright, Let’s move to our last question from this segment

5) Could you please provide some progress on your Roadmap and what results SND has achieved so far?

Amir:
We have an alpha that we are testing internally on the Rinkeby network. That is getting us closer to launching our Beta in the next 4–6 weeks. We’ve build the contracts, the subgraphs, the moderation and the frontend application. Now we are just perfecting the final touches!

We will soon launch our beta, which you can sign up for here (https://www.snd.xyz/start) which makes you eligible for airdrops. Also follow us on twitter (https://twitter.com/snd_xyz) where we will be posting news about the project and upcoming events and allow you to earn SND points that you can turn into $SND tokens!

As to our roadmap, you can see it on our website (https://www.snd.xyz/roadmap).

Ismael Hishon-Rezaizadeh:
Our team has spent quite a while developing the protocols, frontend and subgraphs necessary to launch the first fully-decentralized social network.

We’re almost there now! We’re just finialzing audits and final touches to ensure what we bring to the community is a perfect represenentation of our shared vision!

Ramsy | Crypto Miners:
Thanks Guys for this well detailed introduction about SND.xyz:)

And that’s the wrap up of our the first part of the AMA session ✅

Ismael Hishon-Rezaizadeh:
Thank you Ramsy 🚀

Amir:
Thanks Ramsy!

Ramsy | Crypto Miners:
Let’s now proceed to our Twitter Questions section

i hope you guys are ready for that!!

Amir:
Absolutely!

Excited!

Ismael Hishon-Rezaizadeh:
Love it!

Segment 2️⃣: Twitter Questions

Ramsy | Crypto Miners:
1) Could you share a bit about security and also what benefits you provide to incentives user’s choosing your Platform?

Ismael Hishon-Rezaizadeh:
We take security very seriously. Our contracts are audited and developed by experienced solidity engineers.

Users post to snd.xyz directly through their crypto wallets, so no one can “hack” their accounts. Your posts on snd.xyz are digitally sovereign. Your content, identity & reputation belong fully to you.

Amir:
We have tried to provide a set of incentives for involved in the SND community. The different incentives work together.

You can monetize your content through
a) Turning your SNDs into NFTs. This is not just a screenshot like the NFT of Jack Dorsey’s first tweet. On SND, your actual on-chain IPFS content reference is transformed into an NFT.
b) social staking/post-to-earn — you can earn $SND tokens when you post new content.
c) decentralized advertising — you can sell ad rights to be displayed within your content
d) passive income as $SND token holders

In addition, you own your content. It is not stored centrally and is not owned by a corporation. It’s on-chain and owned fully by you.

Moreover, the community controls how the platform is governed and moderated through on-chain SND DAO votes.

Ramsy | Crypto Miners:
2) Partnership is essential for every project. How do you maintain your partnership now and in the future? What steps have you taken now or will you take in the future? You can show us some of his highlights!

Ismael Hishon-Rezaizadeh:
Great question! Partnerships are one of the most important areas we focus on. We’re personally very plugged into the San Francisco crypto community.

We have a number of very exciting partnerships on the horizon with some household names in the crypto space. Stay tuned for some exciting announcments soon!

Additionally, we are launching our Ambassador program to spread word of how we are revolutionizing social media. Users who care about owning a piece of the social media platform that they use can join our team and help us build the future!

We are going to reward our Ambassadors and community with $SND tokens at launch!

Ramsy | Crypto Miners:
3) Can you explain how “SND XYZ” plans to support social media and DeFi development? How will combining social media and DeFi provide users with a different experience, do you have the technological infrastructure and sufficient resources?

Ismael Hishon-Rezaizadeh:
I started my career as an engineer in the DeFi space. Amir and I are both life long engineers and engineering managers. We’ve also built a fantastic team of engineers and designers to help us excecute on this ambitious vision.

Our social infrastructure is going to be entirely open source.

We will soon be launching SND Labs that will provide our infrasturcuture-as-a-service to anyone in the web3 space who wishes to launch their own social project.

So if you want to build a social network on any public blockchain, our infrastructure will be available to help you power it. Stay tuned for the launch of SND LABS!

Ramsy | Crypto Miners:
4) A portion of projects must discuss “long-term vision and mission,” but what are your short-term goals? What are you currently focusing on? The first step, particularly the diversion, is always critical in establishing a financial foundation for the subsequent steps?

Ismael Hishon-Rezaizadeh:
Our short term vision is to launch the best on-chain social networking experience that has ever been built. We want our users to LOVE using snd.xyz. We’re doing an internal alpha currently and will be gearing up for a public community beta this summer!

This summer we’ll also be doing an IDO & participating in launchpads. We’re building a financial foundation through community participation and community ownership. The future of social media needs to be democratically controlled, so we’re building a financial foundation of democratized ownership.

Stay tuned for our launchpad listings and IDO! Follow us on Twitter @snd_xyz 🙂

Ramsy | Crypto Miners:
5) I saw your plans that SND XYZ will be launching the “SND Bring-Your-Own-Algorithm” on its platform. Can you please explain and discus with us this specific feature on SND XYZ? How would this feature improve the experience of your users?

Here is our last question from twitter

Amir:
Our bring-your-own-algorithm (BYOA) structure has to do with our principle that all social data will be 100% on-chain. Since all of our data is public & composable at the protocol-level, you can easily build you own feed or algorithm structure on top of the data.

However, our architecture protects the ways that content creators monetize their content across all UI layers.

Ismael Hishon-Rezaizadeh:
All components of our application are public and open-source, you can fork the UI, the subgraph and the feed algorithm and change them to your specifications. The two most important principles for our infrastructure are composability and customization.

We want you to be able to build on the infrastructure however you see fit. That includes everything algorithm, UI, indexing, etc.

Ramsy | Crypto Miners:
Thanks for Your Valuable Answers❣️
And that’s the end of our twitter question segment

Ismael Hishon-Rezaizadeh:
Thank you Ramsy and thank you everyone for the fantastic questions!

Amir:
Thank you for all the indightful questions.

Ramsy | Crypto Miners:
Now Moving on to our last segment — Live Q&A

Shall we guys?

Amir:
Send It!

Ismael Hishon-Rezaizadeh:
SND it!

Ramsy | Crypto Miners:
lets go,

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)

1) ℂ𝕒𝕕𝕞𝕒𝕟 ℍ𝕒𝕞:
Can you tell us if has been audited? as we know, smart contacts are very vulnerable to attack and to do check cost a lot of money. So can you tell us a little bit about that, because investors need to know?

Ismael Hishon-Rezaizadeh:
Before our Mainnet launch, all contracts will be audited by Certik.

2) Arif:
🅱️Do token holders have the right to participate in the management of other projects? Will they be able to vote on a new decision about the project?

Ismael Hishon-Rezaizadeh:
Token holders will be able to vote on the appointment of moderators and governance changes on snd.xyz and across all infrastructure layers created by SND Labs and the SND DAO

3) Lavana2016:
One feature that intrigued me was “Mint Your Post as NFTs”. Can you explain to us in more detail about this feature? If so, where can we sell/buy the NFT? Are there any special requirements to turn our post into an NFT?

Amir:
Anything you post on snd.xyz can be turned into an NFT by the press of a button and sold. Because the post is already on chain, the NFT will be unique.

The best way to understand is when Jack Dorsey sold his first tweet as an NFT. Let’s think about that. What did he sell? The tweet never left the Twitter servers. The data is still owned by Twitter. What he sold was a screenshot of the tweet that was linked to from within an NFT contract.

If you have a post on SND, it’s already on-chain. When you turn it into an NFT, your actual post, not a copy of it, is turned into an NFT. It is the difference between owning the Mona Lisa and owning a poster you pick up at the giftshop.

Which one is more valuable to sell?

4) Rj- Uv:
At present the mazor issue with social platforms like facebook, twitter & YouTube is that these companies are selling our personal data to its advertisers, how #SNDxyz solves this issue? Does #SNDxyz ensures to protect the personal data and privacy of users?

Ismael Hishon-Rezaizadeh:
That is one of our top priorities! All contnet on our infrastructure is digitally soverign. You own your data.

You can monetize it through directly selling advertisement rights or through selling NFTs of your content. The choice is yours, all of your data belongs to you.

5) Lucky Earth:
💫In a simple sentence, what is your project goal in the cryptoverse?

Ismael Hishon-Rezaizadeh:
Democratic digital speech

6) Rj- Uv:
At present the mazor issue with social platforms like facebook, twitter & YouTube is that these companies are selling our personal data to its advertisers, how #SNDxyz solves this issue? Does #SNDxyz ensures to protect the personal data and privacy of users?

Amir:
Unlike traditional web2 social media, snd.xyz does not collect any personal information. It is totally Web3 native. You connect using your wallet and post.

7) Lavana2016:
I conclude if we can earn passive income by using social media. Can you explain in more detail how? Post-to-Earn sounds so fresh, please explain what the mechanism is like? What are the terms and conditions?

Ismael Hishon-Rezaizadeh:
Post-to-earn is built from 3 things:

1. Every time you post, you get paid $SND tokens.

2. Mint your content as NFTs and sell them. If you post something of socicietal or cultural significance, you own all the upside.

3. You own the advertising rights to your page and your content.

8) Lucky Earth:
Can you explain, which one is your top priority? Security, Product, Partnership, or Token price?

Ismael Hishon-Rezaizadeh:
Security & democracy

9) ℂ𝕒𝕕𝕞𝕒𝕟 ℍ𝕒𝕞:
Funding is an important part for any project. If So, I really want to know how much funding you raised from the long-term Investor???

Ismael Hishon-Rezaizadeh:
Right now we are bootstrapped. Democratic digital speech should be controlled by a community of holders, not by whales.

10) Detective Bomkesh🍁.:
Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Ismael Hishon-Rezaizadeh:
1. Post-to-Earn
2. Democratic Digital Speech
3. Digital Sovereignty of Content & Data

11) Itz Abhi ⚡️:
SND testnet DApp launch (Rinkeby)

Can you talk more about this testnet? When it is going to happen and can we also enter this testnet? Are you also giving rewards for testing the testnet?

⚡️🚀

Ismael Hishon-Rezaizadeh:
Our ambassadors & early-adopters will be rewarded for building the community through airdrops!

12) kenny kimora:
There is a registration form for Beta Launch on your site. Anyone can register for this form. So when will it be and who will be chosen? What will users gain and experience from this launch? Can you give us information about the launch?

Amir:
We welcome everyone to register for our Beta Launch. It will help us greatly for people to test and registrants will be rewarded. Users will get to give real feedback into the project.

13) Arif:
🅱️Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

Ismael Hishon-Rezaizadeh:
Global! We’re a fully global team and are focussed on global community

14) 💖💕NURE AKTAR💘💓:
Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Amir:
One of our key strengths is also one of the controversial parts of our platform: democratic moderation.

When we looked around to see what is out there, what the market would be, and what pitfalls and mistakes other web2 and web3 decentralized platforms have fallen into, one of the first things that we became concerned with was the potential for illegal activities or spam in a totally unregulated social media on a blockchain. That is not a problem for a hackathon project, but for a sustainable business venture, it is a major problem. Illegal content.

Spam produces enough unwanted white noise to bury real content and make it hard for content creators to be heard and to monetize.

This is where we decided to SEND IT, to take a big risk, to go against conventional web3 wisdom, and advocate for a baseline level of moderation against illegal content and spam. But not the heavy handed, centralized moderation of web2. Web3 gives us wonderful tools to make moderation decentralized and controlled by the community of users through their control of the DAO.

So we further fine tuned our incentives. Social Staking is the key idea here. We make people put their money where their mouth is. Users stake a token when they post. If they’re not posting illegal content and spam, they will be rewarded. If not, they will lose their stake.

So social staking not only works to reward users but also to prevent bad actors.

15) 💖💕NURE AKTAR💘💓:
🔥Where can I buy your tokens right now?

Ismael Hishon-Rezaizadeh:
No where yet! We’re prioritizing community before sales. Join our Telegram and follow us on Twitter and we’ll make sure our early-adopters are the first to know!

16) Noufal Basheer Noufu:
Is your project only for elite investors, what about others with small funds, is it open to everyone?

Ismael Hishon-Rezaizadeh:
Our project is for everyone. Governance of digital speech must be democratic and decentralized.

Everyone is welcome in the SND community.

17) Amina Peter:
In the case of Newbies who wanted to start earning through posting, will your project assist them with educational tools or other forms of support? Do you also train people to be a good content creator?

Ismael Hishon-Rezaizadeh:
Yes! We believe Web3 social media will onboard the next 100 million users into crypto. Education is of the utmost importance to us.

18) Elena:
SND users own the digital history they create and can monetize it. How does your platform differ from today’s social media platforms? How do we monetize every piece of content we share and create?

Ismael Hishon-Rezaizadeh:
When you post on a social platform today, they own your data and monetize traffic and viewership.

On snd.xyz, you own your data and are able to monetize it how you see fit. Your social media posts are a digital asset and on snd.xyz, you are the owner of it

19) Noufal Basheer Noufu:
Trust is very important in business, what makes investors, customers and users feel safe when working with your project ?

Amir:
This is a key issue. We think the trust in the platform is increased by providing level of moderation to exclude illegal and harmful content, along with spam. This makes the users feel safe and for content creators want to be on our platform. All of this makes it attractive to token holders and others.

20) Detective Bomkesh🍁.:
Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Ismael Hishon-Rezaizadeh:
1. Post-to-Earn
2. Democratic Digital Speech
3. Digital Sovereignty of Content & Data

*This segment ends here*

Ramsy | Crypto Miners:
Thankyou so much guys For your valuable answers and information about SND.xyz,
It Was Pleasure Hosting An Ama With You guys

Ismael Hishon-Rezaizadeh:
Thank you Ramsy and thank you to the Crypto Miners community! It was been a pleasure!

Amir:
Thank you Ramsy and thank you to this great community. Very incisive and insightful questions.

Ramsy | Crypto Miners:
Time To Conclude Our AMA Section

Ismael Hishon-Rezaizadeh:
Thank you Ramsy

Ramsy | Crypto Miners:
Have a nice day Team 🤝
We Wish all the very best for Project SND.xyz And The Entire team behind the project ❤️🤝

Ismael Hishon-Rezaizadeh:
Likewise ❤️

Community, if you would like to learn more about SND.xyz, here are some useful links for you:

Website: https://www.snd.xyz/
Twitter: https://twitter.com/snd_xyz
Telegram: https://t.me/snd_xyz
Medium: SND.XYZ