Hello guys, Welcome Back. Today, I will write about another blockchain based decentralized social media called Sapien. I am currently using it, and it’s pretty impressive.
👉 What is the Sapien Platform(#SPN)?
In layman’s terms: It’s an Ethereum based decentralized dApp social media that rewarding user to adding value to the platform like Posting, Commenting & like others post.
The best part is, In coming days, It will be integrated with and also share the ad revenue with all the user. It will also be planned that there will be a decentralize marketplace synergy with Sapien platform.
According to its CEO, Ankit Bhatia, Sapien is
Sapien is a decentralized, tokenized, reputation-based, self-regulated, social news platform that will reward millions of creators, share ad revenue with users, and fight fake news. Built on the Ethereum Blockchain, Sapien is powered by its utility token, SPN, and aims to bring a Blockchain-based social platform to the masses.
👉 What is SPN Token
👉 SPN token is an ERC-20 compliant SPN utility token that will be used to share ad revenue and reward content creators. SPN will form the backbone of Sapien’s tokenized, reputation-based economy that rewards users with tokens using an innovative Proof-of-Value protocol.
👉 You can buy virtual and physical goods from the decentralized marketplace & You can get access to premium content & also chose to opt out from ad seeing by paying a small fee.
👉A user must have to stake 100 (Minimum) SPN to receive payouts for creating content or curating When a user stakes SPN; it will be locked for the duration of the staking contract and unable to be exchanged. Though it’s called, Staking Spain is using Proof-of-Value.
👉 SPN Staking Economy
As I said, Staking SPN is the root of sapiens’s platform. By staking SPN tokens, a user deposits their SPN into a smart contract on the Ethereum blockchain. This discouraging manipulation and the creation of inappropriate content, thinking how?, Well If a user does something wrong, His SPN at stake so, SPN may be frozen if they act illegally.
👉 THE EIGHT PILLARS OF SPN STAKING
In Staking file, They told about 8 Pillar of staking, means, How SPN staking needed and How Staking will push the value of SPN up.
See this video to know how to verify metamask
Its basic, You need to stake at least 100 SPN to access and use the Awesome Sapien Platform.
👉 Reward Engine
As I said, by staking 100 SPN you will get access to the platform , but you can’t use the full potential of the platform. You will get SPN as the reward according to your SPN staking tier. We will talk about Adaptive staking later in this post.
👉 Premium Communities
Premium Communities or Brand, need to stake some higher SPN to use the platform as they will get some add-on benefits like Monetization of content via subscriptions, premium content and boosted posts. Boosted posts allow a community creator to accept SPN tokens to increase the visibility of certain posts. The Premium Communities can’t get SPN reward.
Staking SPN will allow a seller to list more items or services in the marketplace. The specific amount of SPN for the product will announce Q4.
👉 Advertisement Platform
As per the white paper, Users who stake more SPN tokens will receive a greater percentage of the ad revenue that they generate for Sapien. Every time A user sees an ad, They will receive 50% of the ad revenue , But Users can stake SPN to receive up to 90% of the ad split. Isn’t it good.?
I think this part will drive the SPN value to the moon.
👉 Platform Capacity
The More SPN you stake, The more activities you can perform in the Sapien Platform, Simple.
Proof Of Stake Validators
The core team is planning to migrate to Proof-of-Stake in the future. So To become a validator in PoS, you must hold large
amounts of SPN tokens.
You may guess from its title. It’s still a secret. Hopefully, We will see this pillar on V2 of Sapien.
👉 What is Adaptive Staking Mechanism
Its is unfixed and unbounded staking model. In simple, The platform calculates the median of all staked tokens and then placed a user in different tiers according to their staked SPN. So the tiers threshold staking amount not fixed and it is updated on a daily basis
👉 HOW TO UNSTAKE SPN TOKENS?
Staked tokens progressively unlock over the course of a year to ensure stability within the Sapien Network. Once unstaked tokens are available, a user has to go to their profile to request unstake. Withdrawal requests will be reviewed within 48 hours to ensure that the user isn’t a bot or trying to exit the Network after posting inappropriate content. If the total staked drops below 100 SPN tokens, a user may lose access to Sapien.
👉 Sapien tokens will exist in staked and unstaked forms. Staked tokens will provide users with platform functionality, and unstaked tokens will be listed on exchanges. The token will keep track of a reputation within each community the user is part of, accumulating a score that reflects their expertise and reduces the spread of fake news.
👉 Key Features of Sapien Platform
👉 Public/Private Browsing
Seamlessly switch between public and private modes to experience Sapien with your real identity or anonymously.
👉 Feature-rich Chat
Its based on
👉 Highly Customizable
Every individual is unique. Have control over every feature and tailor your own social experience. Like, It’s up to you to opt in or out on ads system and for payment as well.
Protect your online privacy. Sapien protects your personal data and offers encrypted chat conversations. So nothing to worry about someone snooping your private chat.
👉 Let’s Talke About The Numbers in Sapien
Total Supply: 500,000,000 SPN
👉 Total Staked SPN: 10,599,756 SPN, i.e., +% of total supply, is staked as of now.
👉 Total Active User (As of Now): 4021
👉 Comment Placed(As of Now): 18923
👉 Post Created (As of Now): 1193
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