AMA Recap: CRYPTO MINERS X SOLCIAL
Solcial is a decentralised social network on the Solana blockchain. Solcial allows anyone to share content in a fully permissionless way, avoiding censorship, and rewarding users and content creators in a fair manner. A truly open crypto platform for social networking and monetisation. It is a decentralised social network that gives users the power of web3 by allowing people to interact with each other without fearing censorship, and allowing content creators to be rewarded fairly at market value.
We hosted an AMA session with Solcial on 8th February.
Mr. Ramsy was the host from Crypto Miners and Mr. Idris and Mr. Shriyan was the guests. They shared delightful knowledge and unique features of Solcial.
Segment 1️⃣: Introduction
Hello everyone 👋 and welcome to the Crypto Miners AMA session With Solcial
To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr. Shriyan and Mr. Idris
Hello there 👋
Wolcome here Guys
Thanks for bringing Us Solcial❤️
I'm pretty sure that our Community is very much excited to learn more about Solcial ✌️
So let’s get started if you guys are ready!!
We are good to go!
First of all Please give us a brief explanation about 'Solcial' .What popped up in your mind to create such a platform in this Space?
Solcial is a decentralised social network allowing users to interact without fearing censorship, and allowing content creators to be rewarded fairly at market value and without middleman.
Solcial is a mobile app (iOS and Android), as well as a desktop app, and a website. On Solcial each user has their own token, allowing you to invest directly in people. You get minted 1 millions coins when you signup, that supply is fixed and the same for everyone. These coins are yours, you can keep them or sell them (or send them to friends).
Then to follow people we have 3 subscription levels: you can follow someone for free (Tier 1) to access their public content (similar to Twitter or Instagram), and to access their private content (what we call Tier 2 and 3 subscriptions) you need to own their token, to be an investor in them. That’s what we called the “invest-for-subscription” model.
We also display your NFTs on a user profile, either just to show-off, or to buy & sell your NFTs with your friends.
All user content is stored on IPFS and accessed through a P2P layer that we developed. So it doesn’t rely on censorable servers or gateways. And the token related operations (minting, trading etc) are all on the Solana blockchain.
Thanks Shri for this great start about Solcial 👌
Now let's see our second question from this segment...
Q2) So what are your main features and advantages that discern you from other Projects?
It depends which competitors we are looking at,the main advantages are surrounding our design, we are peer-to-peer and decentralised by nature,
2. The second advantage is that we are building on top of great technologies: Solana and IPFS, we are not rebuilding another layer 1.
3. Another advantage is that we have a community of crypto libertarian that truely support us in our mission. And this is invaluable to us.
Q3) How has the experience and background of your team been effective in the success of your project so far?
Previous experience of the team members has helped the project a lot in the previous months and gave it the direction we are moving towards till date.
Most of us have worked in previous startups in the past (both web2 and web3), so we deeply understand the importance of each step in the launch and the building of a new service.
4) Now Share us about your Native tokens, What are the some of utlities of Solcial in Your Ecosystem? And if possible share to us the Tokenomics
The Solcial token will be used for 3 things:
1. As a governance token for voting on the DAO.
2. For having discounts on trading fees.
3. And to buy the token of anyone on Solcial, you will need SLC as the base currency. Each user token is traded versus SLC (the Solcial token), and you need SLC to buy the token of anyone. A bit like Chilliz for the Fan tokens, to buy the football clubs coins like Arsenal or PSG, you trade them versus CHZ.
Alright, Let's move to our last question from this segment
Q5) So how long did it take to develop this project? What plans do you have for the future? And what can we expect from Solcial? If possible could you please share road map with us.
So, It’s been around 7 months since we started developing the project, when we had the first idea. We have been working heads-down all the while and are close the releasing the private beta right now. We will announce the launch as soon as possible and start onboarding our community to the app. Stay tuned!
Thanks shri for this well detailed introduction about Solcial:)
And that's the wrap up of our the first part of the AMA session ✅
Let’s now proceed to our Twitter Questions section
i hope you guys are ready for that!!
yes we are 🙂
Yes, always ready to answer questions from the community!
So Let’s Go 🚀
Segment 2️⃣: Twitter Questions
1) The first thing I saw on the website was "The first uncensorable, permissionless and truly open social network". But Do you have any rules for content creators? how do you plan to control the ilegal content on your platform?
Great question, so we’re a platform that promotes freedom of speech. Content that is normally banned on dictatorships (like political stuff) should be allowed on Solcial (wherever you live).
But there is content that is not a question of freedom of speech, there is content that is simply illegal (on every country on Earth), like child porn, decapitations, terrorist discussions etc. And that type of content has to be moderated. Yet we're a platform that can't delete content. The way we hide this content from the UI is through moderation:
Users can report content that is illegal, and when the ratio of reports/views is above a certain %, we’ll hide the content in the UI and unpin the data from our IPFS nodes. Because the community (as a whole) has voted that this content is disgusting or illegal and should be hidden. But if some community somewhere thinks that this content is important and should be visible, they can just continue to pin the content on IPFS and broadcast it using their nodes. So it will be visible to them via their direct links, but not visible on the UI to the broader audience.
2) I found out that Solcial is a decentralised social network on the Solana blockchain. So,why choose Solana instead of other networks? What are the advantages of Solana towards Solcial?Any contributions and great of Solana network to Solcial?
Because Solana is Fast, Scalable and Affordable.
We are building a peer-to-peer (P2P) layer above Solana for all the content related operations (feed, posts, likes etc). And all the tokens related operations (minting, trading, swapping) are done on the Solana blockchain itself. All user content is stored on IPFS and accessed through the P2P layer without relying on censorable servers or gateways.
The P2P layer also allows us to scale to 100 millions users at minimal costs.
You can read more about about this in our technical blog post: https://medium.com/@solcial/distributed-social-network-855be56d720f
3)Content monetization is hard for small users if it depends on views and interactions with the content. Can you tell us how does earning basically works in Solcial? How can we monetize our contents? Can small and unpopular users can earn too?
On Solcial you sort of like a business, like a public listed company on the stock market. You have a price, and a market cap. And you are the one holding most of your token supply. So when people are interested in you, and in what you post, they buy your token, and your price goes higher. And so your market cap goes higher. So if you need some cash, you can sell a bit of tokens at this higher price to pay for a computer or a car, etc. You are like a startup really.
And on Solcial you are encouraged to post valuable content to your followers that have invested in you for a reason. You can share whatever insights, knowledge or information you want with them.
Whatever is your talent, or your value-add, as long as the world is willing to pay for what you offer, you can have a market cap, and create a business of your own. Even if you’re just a humorist, making jokes all day, people can buy your token to see your ‘premium jokes’ on their feeds. And you can monetize your talent by becoming like a public listed company. It's a new economic model that allows anyone to become a business.
5) Partnerships is one of important factors for every project. Could you name some of your partners? What are the benefits that you get from them? And is there any partnership that will be established in near future?
Here is our last question from Twitter
Yes, we are working on partnerships with other crypto and metaverse projects but we can’t communicate on that yet.
Thanks for Your Valuable Answers❣
And that's the end of our twitter question segment
Now Moving on to our last segment - Live Q&A
Shall We Go Guys?
Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guests choose some best to answer)
Will there be a joining fee to start content creation to earn rewards on Solcial? What types of content creation does Solcial allow? Is everything stored on the Solana blockchain?
There won’t be any fee for posting content when you are using the decentralised P2P network of Solcial. The fees and gas will only be present when you trade user tokens on Solana.
At first we’ll only allow users to post text and images, in the future we’ll include more fancy things (videos, audio etc)
2) 𝗝𝗲𝗻𝗻𝗶𝗳𝗮 L𝗼𝘁𝗮:
What are your top priorities towards the end of 2021 and the end of 2022, so can you share some plans for next year? Which part of the project are you most focused on right now??
top priority right now is to launch, and then evolves/grow the platform as the community wishes to use it 🙂
Which do you think is more important:
C. Token Price
If all of the above is important to you, whiich should come first??
Community, community, community!
what companies are you partnered with or seeking to partner with in future ?
we just announced a partnership with Cross The Ages, a NFT based metaverse game
5) Love you quá nhiều:
I want to know deeper about SOLCIAL 's token, can you introduce briefly about the Utility of SOLCIAL 's Token?
Besides what we've answered above, The Solcial token (SLC) will be used as a governance token for voting on the DAO, for having discounts on trading fees, and to buy the token of anyone on Solcial you will need SLC as the base currency.
Every token holder will be able to vote on the DAO, pro-rata to their holding.
*This segment ends here*
Thankyou so much guys For your valuable answers and information about Solcial,
It Was Pleasure Hosting An Ama With You guys
Is there anything else you would like to share or you want us to know ?
Yes, You can go join us on Discord - discord.gg/solcial if you’d like to ask any questions further
We’ll take rest of the questions on our discord. Thank you
Time To Conclude Our AMA Section
Best of luck for the next
Community, if you would like to learn more about Solcial, here are some useful links for you: