Social Tokens: Your Social Value Can Take off with the Help of Your Own Token Economy

2020-10-20 09:50:00 · 3245 views · 4 min read

 

We’ve introduced a token maker dapp Roll before (Issue Your Own Token in Minutes - Token Maker Tools). Now it ranks NO.1 in social dapps by 30 days volume.

 

(Source: https://www.dapp.com/dapps/decentralized-social-network?sort=4&time=2&type=0)


 

What makes it outstanding in all the decentralized social apps? The combination of social value and token economy. If you are already an influencer or want to be one, you can boost your online value with Roll. 

 

 

It offers a more interactive and social way to issue your own branded ERC-20 token called social money. You determine how your social money will be earned and spent by your existing community. And the token value is determined by how prosperous and creative your community is. The “Mint-Earn-Reward” ecosystem sounds perfect for a social media master. You might even create your own Steemit or Reddit.

 

 

Roll has already enabled 160 artists and influencers to mint their own social tokens, from Crypto artists, YouTubers to podcasters.

 

 

What’s called social money by Roll, is called creator coin by Rally, another social dapp. The creator coin is designed for creators to build fan engagement economies. 

 

 

The same, creators can issue their own cryptocurrencies on Rally. With the creator coin, creators and fans can make collaborative decisions for the community. Centralized content platforms usually take a large portion of fees, and would at times censor your content, or change the platform terms. The social network you build on Rally is run by the community, operated on a creator-branded token economy without high platform fees. 

 

 

What’s more, Rally makes social tokens meet with DeFi yield farming.

 

 

 

It launched a governance token, $RLY. You can earn $RLY by using Rally. Another way is to yield farm in YFI. According to the project’s Twitter, $RLY tokens are earned when YFI vaults generate yield. The yield is deposited into the community treasury and governed by holders of $RLY.

 

 

Seed Club calls itself “A Social Token Incubator”. Like the 2 projects we’ve mentioned, Seed Club also helps creators leverage crypto economics to grow their impact, engage more with their community, and monetize their work. 

 

 

A crypto journalist tokenizes himself with Seed Club. His fans now are able to buy his tokens in Uniswap and stake it on another platform to attend his online meeting up. 

 

 

With these platforms, everyone can issue his/her own token, built a social-connected token economy, and try to create more value with the community.

 

 

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