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Author: 0x29 0x13
Original title: CirclesUBI, where everyone is talking, the focus is not UBI, but social
Starting from the weekend, the CirclesUBI project began to spread widely in Chinese Amber. Because it has the attributes of wool, you can receive Circles and issue your own personal tokens for free. Many users promote their QR codes in the community, hoping to get the trust operation of others.
In the concept of CirclesUBI, this is a mode that can form UBI effects. UBI, the basic income of the whole people, is no longer a new term in Amber. Many projects such as EOS, ENU, Banano, etc. have hoped to combine blockchain with UBI, but the effect is not satisfactory.
What about CirclesUBI? The UBI of this project is more intuitive. Simply put, UBI is formed by everyone issuing coins. This kind of logic is not acceptable to everyone. It is as if a region is extremely poor, and the country prints more money to the residents of the region to make them rich. This model cannot withstand scrutiny. More precisely, this is just a currency-based UBI.
But perhaps, the focus of CirclesUBI should not be on UBI, but social.
Social token concept
The Social Token mentioned here is not our usual “social application token”. ONO, Steem, Reddit, and even the water droplets in the Oasis launched by Weibo last year are all classified as “platform tokens.”
“Social platform tokens” are characterized by generating value circulation within the platform, but “social tokens” are not. The starting point of the latter is people.
The core of social tokens is that you want to get the services provided by one person.
According to the application examples in the CirclesUBI white paper, it can be understood that two users who have performed trust operations with each other can transfer money with each other at a 1:1 exchange rate, and Alice with 10 AliceCoins and Carol with 10 CarolCoins can transfer 5 to each other. Tokens, the result is that they each have 5 AliceCoins and 5 CarolCoins.
The transfer must be a transaction. The reason why Alice wants to transfer money to Carol is based on two premises. One is that Alice trusts Carol, and the other is that Alice can obtain goods or services that she thinks are equivalent. These two points are the basis of social tokens.
Trust + service, derived social tokens. Generally, social tokens can be divided into two categories: personal tokens and community tokens. The latter is more like an iterative development of the former.
Personal tokens are issued to individuals in exchange for other people’s services or labor; when a person’s services grow and form a community, personal tokens also evolve into community tokens. Community tokens can be understood as members, but this The core of a member is still an individual. For example, when everyone speculates in coins, there will be some paid communities, and the group owner pays for knowledge. When the group owner issues a token and members can use this token to pay for the knowledge of the group owner, this is a kind of Pay the token.”
In other words, what “social tokens” actually do is decentralized “get” and “doing”, the form of the platform disappears, and users or fans directly connect with “trusters”. More directly, what users directly invest in is not products, but people
In the concept of CirclesUBI, UBI is not the focus, but social. In this project, the issuance of personal tokens is carried out in batches, and then both parties who trust each other and need to provide service transactions can conduct currency-based personal token transactions. Of course, the disadvantage of this is that the token model is too homogeneous, but at least it solves the problem of startup.
In fact, before CirclesUBI, the social token track already had a certain scale.
Social token project
On the zerion platform, 15 social tokens have been included. The most famous one is WHALE, which has been widely spread recently due to NFT, with a market value of 25 million US dollars. Rhythm BlockBeats has compiled the current relatively mainstream social tokens, and everyone can understand the full picture of the current section.
ALEX is the entry token when many people start to understand social tokens. The reason why it has received so much attention is because ALEX is the most unique among many tokens, and its gameplay has never been seen before. The founder Alex Masmej issued this token to raise enough funds to move to San Francisco to continue working in the crypto field. He really raised $20,000 from the “first ALEX issuance” and completed the relocation.
The ALEX token integrates the concepts of “small revenue sharing agreement” and IPO. Alex Masmej will distribute 15% of his income to token holders every quarter within three years after token issuance; at the same time, ALEX holders You will also get some privileges, such as having private meetings with Alex, and helping Alex make decisions through voting governance.
SWAGG is a diversified social networking site centered on the SWAGG community. Carlos Gomez, the founder of SWAGG, said: “Our goal has always been to keep community members enthusiasm for the community and promote community development through the interesting intersection of the encryption field, cultural level, community collaboration, and creativity.”
In other words, SWAGG has many uses. SWAGG holders can participate in the entire ecosystem built around SWAGG tokens.
The specific uses of SWAGG tokens include: obtaining works of art in the SWAGG network, obtaining SWAGG airdrop rewards before public sales, and providing SWAGG funding for community-sponsored projects. At the same time, community members can share valuable content to obtain SWAGG rewards, which can also be redeemed The tokens are used for community creation and suggestions and voting on SWAGG community actions.
JAMM is used as a means of payment when reading “Jamm Session” blog posts. Currently, the price of reading each article is 1000 JAMM.
Using social tokens as a payment method for reading blog posts is a perfect incentive mechanism. Generally speaking, subscribers often need to pay legal currency when paying for the media. The price paid by each subscriber is the same, and there is no connection between the newly added subscribers and the original subscribers. With JAMM as a payment method, new subscribers need to purchase JAMM tokens in order to pay for reading. The more subscribers, the greater the demand for JAMM. Increasing demand will cause the price of JAMM to rise, and original subscribers will also receive additional dividends because they will hold JAMM tokens. Therefore, the original subscribers will also recommend to others to subscribe to the Jamm Session, so that the JAMM community can get more subscribers, get more money and social support, and turn it into a driving force for sustainable development.
The COIN community is an “inclusive and experimental community supported by a gamified social network”, created by crypto artist Coin Artist. COIN holders can enter a community network called E-Den. This community has the right to decide the development direction of COIN. Community members can do some interesting things, such as designing cryptographic puzzles, that is, programmatically embedding addresses where cryptocurrencies are stored in encrypted artworks. Those who crack the puzzles will be able to own these cryptocurrencies, which is also a Coin Artist A very famous place, she once embedded 5 BTC in the work “The Legend of Satoshi Nakomoto” (The Legend of Satoshi Nakomoto). When the puzzle was solved, the value of these 5 BTC had soared to about $50,000.
In addition, COIN tokens have a very interesting mechanism that allows COIN holders to exchange their tokens for CRED tokens. In the upcoming game “Neon Zone”, CRED tokens will be used to redeem rare items in the game.
WHALE is currently the most successful social token. It was issued by WhaleShark in May 2020 and has a market value of up to 30 million US dollars. What is even more incredible is that WHALE has now expanded into a complete ecosystem and community, and has created a DAO to make it completely managed by the community.
Unlike other social tokens, the value of WHALE is backed by a large number of NFTs. These NFTs are stored in the WHALE “treasury”, which contains an NFT valued at approximately US$1.4 million (as of September 2020). Monthly figures-audit conducted by nonfungible websites). WHALE is not only supported by the value of NFT, but can also be used for a series of different functions in the community, such as participating in activities, games, WHALE DAO governance, purchasing NFT from the vault, etc.
RAC is issued by the Grammy Award winner RAC. Holders of a certain amount of RAC can participate in exclusive product launch conferences held by RAC in digital product trading markets such as Zora or SuperRare.
SKULL is a social token created by Madrid-based crypto artist Skeneee, who is passionate about deconstructing visual descriptions of humans and animals. SKULL tokens can be exchanged for NFT created by Skenee and peripheral products, such as clothes, hats, art paintings, tattoos, etc.
MORK is issued by the crypto artist Hackatao. Holds 500 MORKs to join the exclusive Hackatao Discord channel. In this channel, MORK holders can discuss art with Hackatao, get real-time updates of works being created and newly released by Hackatao, and the encrypted art market Professional research and analysis, cooperation with Hackatao, etc.
FIRST is a community-based social token issued by music producer and famous DJ Harrison First. First’s work focuses on the multi-sensory experience of vision and sound, connecting music, art and the current world of cryptography. Token holders will become members of the exclusive creative community First Generation. They can get DJ preset packages, discuss insights about music with First, and listen to First unreleased music in advance. In addition, FIRST holders can also get airdrop rewards by sharing the music released by First on Spotify every week.
The philosophy of the CHERRY community is very simple: to gather creators and token holders together to benefit from the development of the community. There is no third party in the community, it is entirely composed of community members, which improves the quality of the content in the community and brings more value to community members.
Cherry is a community that accepts adult content (Not safe for work), but community content is not limited to adult content. The community also has SFW (Safe for work) creators (illustrators, digital art…) and activities. The community has a separate SFW channel, where members can talk about content in any field, such as animation, games, encryption, investment, food, travel, movies, technology, etc.
CHERRY holders are divided into six levels according to different token holdings, and each level has different rights and interests, such as airdrops, special NFT collection, etc. Among them, the top 20 community members with CHERRY holdings will be able to participate in community governance.
No matter from any angle, “social tokens” can still only be regarded as an experiment, not an amber thing in a broad sense. In a market chasing ups and downs, “social tokens” are just a small but beautiful. But it allows us to realize that at the beginning of the birth of cryptocurrency, when Bitcoin was not a commodity, geeks obtained and paid by pure interest.
Imagine if in the early years, five people exchanged social tokens for band development funds, and you were optimistic about them, you held five people coins, and after a fun summer, you might never have “the previous collection The public finds this kind of regret, because your regret has been diluted by the increase in the value of the token.