A natural question many people ask when first exploring blockchain technology is how they can capitalize on this innovation. Everyone wants to get rich, and many think a way to make money is by creating their own token. This is where the question arises, how to create your own token?
Now when you think about creating your own token, many people will first think they need to learn to code. This is because you will have to write smart contracts and complete other technical tasks. This might lead some to ask who will write the smart contract, do they need to hire a developer or team? Quickly the task gets too complicated and many give up on the idea of creating their own token.
While this is one way of creating your own token, most people would not have the funds or technical expertise to complete the token generation process. However, for those who still want to create their own token, without needing to worry about the technical process there is another option. That is, create an account on Solcial. This option takes about one minute and at the end the user has full control over their own unique token.
Yes, that’s it, that’s all you need to create your own SPL token, which is tradable, can be scanned on solscan and has all the functionality of a regular smart contract. Just add your email, create a wallet and you’re done.
What can I do with my own token?
Your own token that you create on Solcial will have multiple utilities.
- People that hold your tokens are almost like people that hold shares in a business. Except, on Solcial you are the business.
- Everyone who holds some particular amount of your token, gets an additional benefit of being able to access your private content. Now that can be your trading calls, your blogs, or any exclusive content that you provide to your holders. On Solcial you can practically monetize any skill.
- Since your tokens are minted on a public blockchain and the address is available to anyone, even other exchanges could list the tokens of big influencers if they want to.
- On Solcial, you are sort of like a business, and you the user become the company. 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. When your token price goes higher so does your market cap. So if you need some cash, you can sell a bit of your tokens at this higher price to pay for things you need (maybe you even want to take your fiat profit and buy tokens back!). You are like a startup really.
Role of the Solcial native token - SLCL
Now the SLCL token plays a very important role on Solcial. SLCL is a utility token used for three main reasons:
- As a governance token, to vote on the DAO for future decisions about the platform.
- To have a discount on trading fees.
- Users will need SLCL to buy the token of anyone. Even if we display the price of every user token in USD, the quote currency is always SLCL. For example if you want to buy some JOE token, the trading pair is JOE/SLCL.
Who will buy my tokens?
You might be wondering, who will buy your tokens? That is a fair question, and one that is only answered by you. On Solcial you are the business, and you get to decide how you want to market yourself. Do you want to build an audience and sell your token to those people? Or do you want to sell your tokens to you friends? Who knows. On Solcial some people might buy your token to speculate, and others buy to access your exclusive content. What is best is that you benefit from both of those people and have a new way of rewarding your investors as you grow.
Maybe this will become your unique skill, simply finding new and promising talent and investing in them. Maybe you become so good at this others buy your tokens just to get your tips and tricks when it comes to investing in user tokens. At the end of the day this is up to you.
While Solcial allows for anyone to create their own token, it also changes the way we interact online. This concept of having your own market cap makes it far more rewarding to post good content, and far more costly to post bad content. Get ready, this is the Web3 future we have all been waiting for.
Solcial is a permissionless 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.
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