ICYMI: Solcial AMA Recaps from Jan 17 – Jan 21
Diversity AMA Jan 17:
Host: Let's start today's AMA! Now, we will begin with the first question, can you tell me and the community a simple description of the Solcial project?
Solcial Admin: 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.
Host: Thank you for your answer. Can I ask what desires will Solcial solve for users?
Solcial Admin: The 2 main desires for Solcial to bring to the world are 1/ to promote freedom of speech and let people discuss without being censored or banned. And 2/ to let users monetize their content, their value-add, irespective of their talents
Host: Wonderful!!! Can you tell me how Solcial works?
Solcial Admin: Solcial is a mobile app (iOS and Android), as well 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 million 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. And we have a few more cool features, but I won’t share everything today 🙂
Host: I'm impressed with Solcial's censorship resistance. Can you answer more specifics about it? Is everything a user posts saved on Solana's blockchain, right?
Solcial Admin: No, actually everything related to content (posts, feed etc) 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.
Host: I really hope this is a potential project and strong development Now, let's talk about the partnership and investment of Solcial? The community is also very interested about this information
Solcial Admin: Sure, we are backed by tier 1 investors: Solana Ventures, Alameda research, Rarestone, Newave Capital, NOIA Capital, Genesis Block ventures and more. They all provide us broad support from industry networks to community marketing
PART II: QUESTIONS FROM TWITTER
I noticed the Solcial project gets asked a lot on Twitter. I will choose the 5 most asked questions for you to answer.
Host: The first question is: In the first quarter of 2022, what activities will the Solcial conduct?
Solcial Admin: We will launch Solcial, and we are preparing a few events around the launch, which we shall announce in the coming weeks!
Host: What will happen if the user posts some "especially sensitive" content such as racism, pedophilia, murder, or anti-political action?
Solcial Admin: Good 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. We have also other incentivisation mechanisms to get the community to moderate this social network, this metaverse, but I won’t share everything today 🙂
Host: Woww. A complete and wonderful project. So, what can I post on Solcial? Images, status, video, music,... Is there anything that I have to limit?
Solcial Admin: Thanks 🙏 For the V1 we will allow users to post images and text, and later on we'll allow more type of content like videos and music
Host: Can I create NFTs on Solcial and trade them?
Solcial Admin: ah 🙂 Yes you'll have the ability to trade NFTs right from the app!
Host: Currently, on the market, there are many projects, users have also gradually become more familiar with the concept of Web3. And who is Solcial's target audience?
Solcial Admin: Our main target audience is the crypto natives, people familiar with blockchains, wallets, trading, NFTs etc
PART III: LIVE QUESTIONS
Question
1: Where will the project's profits come from?
Solcial Admin: Profits and revenues will only be generated from the trading activity: we charge 0.5% trading fee on every trade (when people buy or sell the token of anyone), we plan to keep half of these revenues for our own development, and with the other half we’ll do a buy and burn of the SLCL
Question 2: Will the project have benefits for content creators?
Solcial Admin: Absolutely, creators will be able to monetize their content by having a token related to them directly, with its own price and market cap. So creators become like public listed companies
Question 3: Please tell me more about the DAO in this project?
Solcial Admin: The DAO will be the place where people vote on future decisions of the platform, what do and what not to do, which direction to choose etc. But the transition to the DAO will take a bit of time, projects should not decentralise their governance right away, but after the initial phases have been successful and everything runs smoothly.
Question 4: Do I have to pay higher to get higher ranks in Solcial?
Solcial Admin: No, we won't have advertising, but instead its the quality of your content that will determine if people are interested in what you post or not, and therefore that will determine the demand for your token (the better your content, the more people should be interested in following you and/or in investing in your token).
Question 5: Is your project audited? And Solcial has a token burn mechanism?
Solcial Admin: Yes we have Kudelski Security (the firm that has audited the Solana blockchain itself) that has been reviewing our infrastructure and code, and will audit our final version.
Host: All Solcial Admin's answers have helped the community better understand the Solcial project. And the AMA almost answered everyone's questions. So we'll end the AMA now. Thank you everyone, thank you Solcial for joining the AMA with our community. And please always stay tuned for new information from us, we would like you to join us on our social network.
Solcial Admin: Thank you so much!!
Host: Do not forget to follow all the channels of Solcial for more info!
Titans Ventures Jan 18
Host: To kickstart today's AMA, please introduce briefly about your team and some advanced features of Solcial.
Solcial Admin: Hey Everyone, I’m an advisor to the Solcial project. I’ve been in crypto for many years like most of the team and we decided to launch Solcial because we were fed up with the current state of social networks 🙂
So 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 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.
Host: Next, please share with us the vision and mission of Solcial in the coming time.
Solcial Admin: Our primary goal is to create a platform that helps citizens voice their opinions in a civil way, without government interference or fear of being prosecuted. But as we’re building the platform using blockchain tech, we are able to do much more than that…
Host: Could you please update some latest news or big events of Solcial to attract more users?
Solcial Admin: Absolutely, we’re planning to launch Solcial in the coming weeks. Till then you can subscribe to our announcements channel for the latest updates and blogs! we’ll make announcements regarding IDOs and listings in the coming weeks as we organise the launch with our partners 🙂
Host: The information you provided is really fruitful. To continue today's AMA session, please provide more information by responding to some best questions submitted by members on Twitter that I have chosen right in this Group.
PART 2: PRE-COLLECTED QUESTIONS FROM TWITTER
1. Solcial's mission is to use social media to reach Web 3.0. As vital as universal acceptance of this unique innovation is. Is there a way for you to bring consumers and, most crucially, concept of work to Solcial? What strategies do you have in mind to gain credibility? @hasan28d
Solcial Admin: Excellent question, that’s actually the most important. How to get a network effect. The key to understand is that a social network is a marketplace, you have supply and demand. You have content and users. And to get more users they need to see new content, but to get more content you need new users to post it. So you have a chicken and egg problem to solve early on. And the only way to solve a chicken and egg problem for a marketplace is to start with a small niche, a small group, dominate that market, and then expand.
So here we’re starting with the market we know the best: crypto traders. People will be able to share their market analysis, trading calls etc, and interact together (either to speculate on each other, or to subscribe to their private content, their special insights etc). Once we get enough engagement with these first users, we’ll expand the user base to other groups that are lined up and ready to onboard.
2. Solcial allows anyone to share content, in which all participants are rewarded for their efforts. Can you explain how can a user and content creator profit from this platform? Is there a reward for each post, like, comment, or share on the platform? @Lidiamga
Solcial Admin: Good question, on Solcial you are actually encouraged to post valuable content to your followers that have invested in you for a reason. So you can share whatever insights, knowledge or information you want to share 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. This is very powerful and should incentivize people to post valuable, quality content on this social network, rather than wasting their time with funny dances like on tiktok or others 🙂
3. What is your opinion of the future of decentralised social networks in a year or more? During your adoption process, are you planning to add more renowned names to Solcial's network, or introduce some celebrities that have great influence? @bina_binbin1235
Solcial Admin: We’ve seen what Web3 can do with things like DeFi and the revolution Play2Earn has brought to the gaming industry. Here at Solcial, we are incorporating the decentralized power of blockchain to lead in the development of the new and improved social media universe.
By putting the user first, we are taking the power from the centralized few and giving it to the decentralized masses, and we think that the decentralized social media is here to stay.
Yes, we are working on partnerships with other crypto and metaverse projects but we can’t communicate on that yet.
4. Solcial's native token, the $SLCL token, is owned by Social. Is $SLCL a token for governance? Who has the right to vote in the DAO and receive a reduction on trade fees? Could you please describe the $SLCL Token Distribution in further detail? @Selva08519571
Solcial Admin: The Solcial token (SLCL) 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 SLCL as the base currency.
Every token holder will be able to vote on the DAO, pro-rata to their holding.
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.
5. Users are very aware of data privacy and security when experiecning any social platform. How can you guarantee cencored content for all users? Besides that, what are the technological highlights of Solcial to ensure the speed and scalability? @BrutyTamela
Solcial Admin: 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.
By building Solcial on a P2P layer anchored by the Solana blockchain we are, by design, unable to censor content; if you post something it can remain hosted forever as long as someone, somewhere think this content is important, and cannot be deleted or cancelled by any other party or authority. Although we do have policies in place to prevent illegal and egregious content, no dictator or government body will be allowed to bully Solcial into censoring someone’s content.
The P2P layer also allows us to scale to 100 millions users at minimal costs.
You can read more about technical highlights of Solcial in our Technical Blog: https://medium.com/@solcial/distributed-social-network-855be56d720f
Host: That's the end of Part 2, I believe all of the members here have gathered enough useful information, also they have many questions to exchange with you today.
PART 3 - LIVE QUESTIONS
1. Now in crypto the biggest problems are security in recent days there are many project that had been hack that took the user assets. So how do you insure the security of your project do you have any insurance for this and what are you doing for security of your platform?
Solcial Admin: good question, for security we’ve partnered with Kudelski security (the firm that has audited solana itself) that is auditing us
2. Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Solcial Admin: yes every token holder can vote on the DAO
3. How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?
Solcial Admin: we’re about 15 in the team now
4. I Would like to Know that If I Post the VALUABLE and the QUALITY Contents to the SOLCIAL Platform than What Incentives and Rewards , i Will be Able to get ?
Solcial Admin: the higher quality content you post, the more people will be interested in you, and in investing in your token.
5. I want to support #Solcial , Tell us more about the Ambassador Program and in what ways can we participate ?
Solcial Admin: Ha! we’ll talk about that soon 🙂 patience
6. Is Solcial is only a mobile app (iOS and Android) ? Is your platform accessible via a desktop app, or a website? Is there an age limit when registering?
Solcial Admin: yes Solcial will be an app on iOS, Android, and a desktop app too (and a website)
7. How Do you planning to promote your project in different countries, wherein English is not spoken well? Do you have a local communities for them to better understand your project?
Solcial Admin: We’re going to open our local communities very soon, stay tuned!! 🙂
8. Why do we need Solcial? What is the new thing that Solcial bring to us?!
Solcial Admin: If you like money, you’ll love Solcial
Crypto Stalkers Jan 20
Host: Can you briefly describe what is 'Solcial’? We would like to know more about it and how it works.
Solcial Admin:
· 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.
· We have a mobile app (iOS and Android), as well 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 million 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.
Host: What are your main features that distinguish you from other Social Media Platforms and what competitive advantages do you have?
Solcial Admin:
· It depends which competitors we are looking at, the main advantages are surrounding our design, we are peer-to-peer and decentralised by nature.
· The second advantage is that we are building on top of great technologies: Solana and IPFS, we are not rebuilding another layer 1.
· Another advantage is that we have a community of crypto libertarian that truely support us in our mission. And this is invaluable to us.
Host: What and all partnerships or marketing initiatives are you working now to help build awareness for your platform?
Solcial Admin:
· We are backed by tier 1 investors: Solana Ventures, Alameda research, Rarestone, Newave Capital, NOIA Capital, Genesis Block ventures and more. They all provide us broad support from industry networks to community marketing.
· And Yes, we are working on partnerships with other crypto and metaverse projects but we can’t communicate on that yet.
Host: We’ve seen platforms like Hive, LBRY, Steem, Uptrennd which was later closed the main issue they have is token price as users are rewarded with tokens, how you’ll maintain the great demand of your token?
Solcial Admin:
· We are not rewarding users with tokens, users will have their own token, independent of the Solcial token. And we have made the Solcial token a high utility token
Host: How user can earn Money on Solcial? Are there people rating the content? Who manages and curates the posts? How the rewarding structure works?
Solcial Admin:
· Good question, on Solcial you are actually encouraged to post valuable content to your followers that have invested in you for a reason. So you can share whatever insights, knowledge or information you want to share 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. This is very powerful and should incentivize people to post valuable, quality content on this social network, rather than wasting their time with funny dances like on tiktok or others 🙂
· About Curation, By building Solcial on a P2P layer secured by the Solana blockchain we are, by design, unable to censor content; if you post something it can remain hosted forever as long as someone, somewhere think this content is important, and cannot be deleted or cancelled by any other party or authority. Although we do have policies in place to prevent illegal and egregious content, no dictator or government body will be allowed to bully Solcial into censoring someone’s content.
Twitter Questions:
Host: Nowadays, there are millions of users who make use of social networks such as WhatsApp, Facebook, Instagram. But these networks have privacy issues. So how will Solcial attract these millions of users to show them an improved approach to social networks?
Solcial Admin:
· 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
Host: I read that on Solcial each user is rewarded according to what they contribute to their followers on the platform. But how do you manage to determine and "fairly" reward the contributions of each user? How do you manage to quantify such a subjective parameter for anyone?
Solcial Admin:
· Good question, the fair price is what the market value your token price. Valuing the “social market cap” of anyone is something entirely new, so we don’t have models to value these tokens. Instead you could simply look at the price of other people, or other influencers.
· If someone has a million followers on YouTube and her token is priced at $20, but someone with a thousand YouTube followers has a token price of $50, then there might be an arbitrage to make.
· In fine, the price of anyone will be determined by the market, by speculation, by demand and human psychology: what people think you should be worth.
Host: I saw that Solcial has 3 subscription levels to follow people. My question is, can you explain what is the difference between each type of subscription, can content creators create "exclusive content" that must be accessed by paying a VIP or exclusive subscription?
Solcial Admin:
· 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.
Host: Have you any highlighted features in your"Solcial" platform that can makes it stand out in the market against others platforms?Does"Solcial"is open for begginers or only for crypto experts?How would you welcome non-crypto natives to explore in your platform
Solcial Admin:
· Solcial is built for everyone, even though its underlying technology is based on blockchain, we want to make a simple app that even our mums can use :) But initially we expect to have more appeal for the crypto natives, given the nature of the platform, they should be the main early adopters.
Host: Scammers are increasingly using social media to perpetuate cryptocurrency-related fraud. So how will #social stop scammers from trying to trick users? What kind of tools will you use to avoid this?
Solcial Admin:
· We will adapt and use different algorithms to prevent scammers, like captcha to prevents bots from joining. But to prevent scammers from socially-engineer other users, we’ll have to continue to educate our users on what to expect, and what to do. Like we tell people on Telegram to not send money to people sending them direct DM etc
Live AMA Questions :
Lam: Does Solcial have staking function? Are you planning to create a bridge between Solcial
other block-chain platforms in staking ??? Thanks you
Solcial Admin:
· We don’t have plans to include DeFi and Staking.
SpaceX: What is the most ambitious goals of the project in the future? What is your most important next priority according to the project roadmap? Is the team equipped with sufficient funds and community to meet that goal?
Solcial Admin:
· Solcial has 2 main goals to bring to the world: 1/ to promote freedom of speech and let people discuss without being censored or banned. And 2/ to let users monetize their content, their value-add, irespective of their talents by tokenising their social capital. Its a new economic model that allows anyone to become a business.
𝑀𝑒𝑔_𝐿𝑎𝑛𝑛𝑖𝑛𝑔: Hello sir, please answering the question?
🇺🇾🇺🇾🇺🇾🇺🇾
Do you have AUDIT certificate or are you working to AUDIT your project, so that the security of the project becomes more secure and reliable?
Solcial Admin:
· For security we’ve partnered with Kudelski security (the firm that has audited Solana itself) that is auditing us.
Shanaya: I’ve been seeking for your white paper but haven’t been able to locate it. Why haven’t you made the project white paper public yet? Do you intend to do it soon? Which ones do you intend to integrate in the future to attract the largest possible users?
Solcial Admin:
· No whitepaper but we’ve started a series of technical blog posts: https://medium.com/@solcial/distributed-social-network-855be56d720f
Nereida: What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?
Solcial Admin:
· Revenues will be generated from the trading activity only. We might add advertising in the future if the community wants that, otherwise only trading.
About Solcial:
Solcial is a decentralised social network that aims to give users the power of Web3 by allowing by to interact with each other without fearing censorship, and allowing content creators to be rewarded fairly at market value.
Get in touch
Telegram: https://t.me/solcial
Twitter: https://twitter.com/solcialofficial
Discord: https://discord.com/invite/3EpaAbcRPp
Blog: https://blog.solcial.io/
Web: https://solcial.io
Email: [email protected]
Linktree: https://linktr.ee/solcial
