Problem statement
Market wants a platform to spread their message faster & wider. Lack of incentive mechanism to rewards people to sharing the message. Imagine what if the more you tweet/share more more money you can make?
Proposal
Viral is a platform for Posters to share their message as fast & wide as possible. Sharers to get rewards for their sharing.
Poster will have to pay either $Viral token or $NEAR for a Post. The Posting fee will be distribute to Treasury (20%) and nearly 80% to sharers. Say If the post is about a Game/Campaign and sharer level 6 is the winner. Then he/she will receive 50% of the 80% posting fees + 50% of the rewards for the winner of the game. The sharer level 5 will be rewarded 50% of the remaining posting fees and rewards. The sharer level 4 will receive 50% of the remaining and so on.
Potential use case:
Bounty/ bug fix/ Marketing campaign/ Gamification
Sales NFT. Say you want to sale your minted Art, but you don’t have many followers
Thx for posting @luffy. When you say “Market” - what market specifically are you referring to? Is this within Twitter/Instagram, or you’re suggesting a new social media platform?
I am going to approve this payout for the Ideation, and for future bounties, you’ll need to drill down a bit more on your vision and plan. Here’s a great outline to help organize your thoughts when you do the presentation bounty: The Only 10 Slides You Need in Your Pitch - Guy Kawasaki
Thanks for your advice. Honestly, this idea just came to me coupe of days a go. Have no detailed plan yet. However, I don’t think that new social media platform is a good idea. As it will take years to develop app & community. Leveraging existing ones like Twitters/Instagram/ Status sounds more reasonable.
The mechanic feels complicated, I’m not sure I undestand it. Does the social token add anything which couldn’t be accomplished by using $NEAR alone?
How does this setup drive sharing better than something like…
Step 1: poster sets a spend limit, “follower value” (say .001N), and their tweet
Step 2: spreader provides their retweet. dApp checks how many followers they have and pays them out immedietly.
Is the concept of a “winner” because it’s ok to run contests on twitter, but it’s not ok to directly pay for retweets/likes? Is the winner triggered by a formula or other event?
What happens if only 1 person shares a post? Do they get to collect the full 80% of posting fee?
What will the treasury be used for?
I have so many questions because I’m excited for the idea and think it would be widely used. Just need to hammer out the mechanics to optimize for the end goal
It’s possible to use $Near alone. However, a social token can be used to give incentives to early adopters. Take QuickSwap for instance, they use its token Quick as an incentives to attract more liquidity. It helps to answer the chicken & egg situation. The more liquidity, the more users, the bigger project value.
The proposed sharing mechanism is better because:
It can get involved many more people in a short time. As it is not just focus on influencers. You can get a big rewards even with a small number of followers.
As there is a concept of a winner, so there is always a chance to get a big reward, cause you never know if the sharer right after you is the winner. Just like a lottery, it gives a hope.
if only 1 person shares a post? they get to collect the 50% of the full 80% of posting fee. The rest go back to treasury. Is it a big amount, yes, and it will attract more early adopters. You may say, why I have to pay for the post if just one person see it. Okay, it is fair, that when the social token come to the picture.
What the treasury be used for? I don’t have complete answer at the moment. Again, it is just a new idea. I however think it should be used for fund activities (DAO, development, marketing) which support the growth of the project.
