AMA Recap: Diversity Ventures X SOLCIAL

On June 7, 2022, we had a chance to welcome Tina – Marketing Manager of Solcial

 to join an AMA to share with us information about Solcial and the upcoming launch?

Solcial is a permissionless social network on the Solana blockchain. Solcial allows anyone to share content in an open way, and rewarding users and content creators in a fair manner. A truly open crypto platform for social networking and monetisation

In order to help our community get more understand about Solcial as well as the information about the roadmap and features of Solcial in 2022 and in the near future, Diversity Ventures has organized an AMA with Tina – Marketing Manager of Solcial

Time: 20:00 UTC+7 |07/06/2022

🏘 Venue: Diversity Ventures Group

🗣 Hosted by: Ngọc Nguyen – CMO Diversity Ventures

👥 Guest: Tina – Marketing Manager of Solcial

💵 Reward: $200

Below are the main points of this AMA session:

PART I: INTRODUCTION OF SOLCIAL

Hello everyone, I’m Ngoc Nguyen, CMO of Diversity. Today I am very happy to join our community to AMA to introduce a project that is very prominent recently – Solcial. This Web3.0 project is attracting a lot of participants. Joining with me is @tina_solcial – Marketing Manager,  Solcial. 

Host: Hi Tina, are you ready to talk about today’s project with the Diversity community?

Tina: Yes, We are excited to answer questions from your community!

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?

Tina: Yeah Sure, 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 as 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: Impressive. I believe that with this great idea, the project will have a lot of participants

Tina: Yes! For sure!

 

Host: Will there be a joining fee for starting content generation for getting rewards later?

And what type of content generation and sharing will be allowed under $Solcial -videos/memes/graphics/Music etc

Tina: There won’t be any fee for posting content when you are using the decentralised P2P network of Solcial. The fees and gas will only be present when you trade user tokens on Solana.

At first we’ll only allow users to post text and images, in the future we’ll include more fancy things (videos, audio etc)

 

Host: Will it be free to start your blog and make an initial token offer?

Tina: Yes, creating an account is free on Solcial.

 

Host: What information will be needed to create a Solcial account? Will Solcial use phone numbers or emails? Or any other ways to deal with squatting of usernames?

Tina: To create a Solcial account, you just need a username, and an email address (the email is only used for marketing, not actually to use the platform). We are thinking of reserving some usernames to avoid squatting yes.

 

Host: I will also create an account to experience Solcial. I’m pretty excited about it and I’m sure the Diversity members will enjoy it too.

Tina: That’s great, You and Your community will be one of the first users of the Solcial app.

 

Host: Nowadays, there are millions of users who use 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 networking?

Tina: 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://blog.solcial.io/english/distributed-social-network/

 

Host: When using social sites, users are keenly aware of data privacy and security concerns. How can I make blocked content accessible to all users? Apart from that, what is Solcial’s technical capabilities to ensure speed and scalability?

Tina: As discussed above, our P2P is our solution to ensure both speed and scalability for all users, while maintaining a strong censorship resistance angle.

 

Host: Will the Solcial team have access to content locked by a subscription? Can the content creator suspend or limit the sale of their personal tokens?

Tina: No we can’t access the private content of users (only if we have bought their tokens). And content creators can’t suspend the sale of their tokens, the user tokens are minted on a public blockchain and the address is available to anyone, so even other exchanges could list the tokens of big influencers if they want to.

 

Host: Why do we need Solcial? What is the new thing that Solcial bring to us?

Tina: If you like money, you’ll love Solcial 🙂 More seriously, read the introduction about what is Solcial, and why we are building it.

 

Host: What stakes do you place on the development of your product? To what extent will it be interesting to the general public?

Tina:

The development of the product is highly important to us, that’s why we have the best and brightest engineers we could find to help build Solcial. But these are fairly technical aspects that shouldn’t be of any interest to the general public.

People want to have fun, and use a simple product that they understand, and that’s what we’re doing. We’re building a complex solution (a permissionless blockchain-based social network), and simplifying it down to an easy-to-use consumer application that our mums will be able to use 🙂

PART II: QUESTIONS FROM TWITTER

Through my question, I believe the Diversity members understood the highlights of Solcial. They are sure to have a lot of questions to tell you. Next we will also come to the question and answer section of the Diversity community!

Host: First question: 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?

Tina: 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: The next question:

– How much is the gas fees to post, like, comment, follow?

– If I have NFTs on other solana DApps will it be interoperable in any way?

Tina: There will be no gas fee to post content (on the P2P network), but there will be gas fees to trade user tokens on Solana.

Yes, your NFTs on your Solana wallet will be visible on Solcial, so you can show off your gallery or buy/sell with other people.

 

Host:

Question number 3: Where will SOLCIAL profit from? Does the project have an estimate of how many users it will attract in the first year?

Tina: 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 on the market (similar to BNB or FTT)

 

Host:

Question number 4: Now in crypto the biggest problems are security. In recent days there are many projects that have been hacked that took the user assets. So how do you ensure the security of your project? Do you have any assurance for this and what are you doing for the security of your platform?

Tina: For security we’ve partnered with Kudelski security (the firm that has audited the Solana blockchain itself) that is auditing us.

 

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?

Tina: We will adapt and use different algorithms to prevent scammers, like captcha to prevent bots from joining. But to prevent scammers from socially-engineering 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

 

Host: Can the big investors (like Alameda research) influence the direction of Solcial in any way? bluntly put, do they have the sway to twist your arms and make you do something that you won’t do otherwise?!

Tina: Not really, they have some tokens so they could vote on the DAO, but their tokens are vesting for the coming years. They’re mainly great partners, and totally in line with our vision.

The Twitter member’s question-and-answer session has ended. Do not forget that the lucky members who are selected to win the question will have special rewards.

Before going to the Diversity community direct questions section. Please take 2 minutes to follow Solcial’s media channels!

– Follow Twitter Solcial 

– Join Cộng Đồng Solcial

PART III: LIVE QUESTIONS

Question 1: Without an working products any idea has zero value. We see many projects are on paper only and no product. So, kindly ensure us that your project is just not an idea and it’s already has an working products or practical usecases?

Tina: On the financial side, we have built-in economical designs that make the Solcial token a high utility token and deflationary in nature. People will need SLCL for 3 main reasons: 1/ to invest in users or subscribe to their content, 2/ to vote on the DAO (its a governance token), and 3/ to have discount on trading fees.

Furthermore, half of the trading revenue will be used to buy and burn the Solcial token on the market.

 

Question 2: Do you have any ongoing or upcoming reward program events, please let us know in detail &do you have any ambassador program as well as your project?  More communities hold events to attract more people. That is also the main thing to attract project investors

Tina: Our Ambassador program is also live, where the community can participate by helping the project and get rewarded – https://docs.google.com/forms/d/e/1FAIpQLSc-UVEGZ0igTzG0eTaEp3e2yGXynoY5aeXCz5OydJQMkiiRHQ/viewform

 

Question 3: Hello @tina_solcial  Staking programme is very important for any project,?? Can i stake your token,? Do you have any plan of starting staking programme,??

Tina: We don’t plan to include DeFi, staking and derivatives, we only have spot trading of user tokens. And only NFTs as well. We focus on building a fully integrated app, that is simple and intuitive to use, yet very powerful behind the scene. We don’t want to add all the bells and whistles.

 

Question 4: How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project?

Tina: 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 within these first users, we’ll expand the user base to other groups that are lined up and ready to onboard.

 

Question:

My question important 

Sir pls ansure me?????

1. Telegram Group✔️

2. YouTube channel ✔️

3. Medium✔️

4. Website✔️

5. Twitter✔️

6. Discord✔️

You can share with us the link for your project in all these projects???How can I buy this tokens? Is it available on any exchange?

Tina:

Get in Touch

Telegram: https://t.me/solcial

Twitter: https://twitter.com/solcialofficial

Medium: https://medium.com/@solcial

Web: https://solcial.io

Discord : discord.gg/solcial

Ngoc Nguyen

This is the end of the AMA, Thank you to everyone who watched and asked interesting questions for me and @Tina_solcial

Once again remind everyone to follow the Solcial project through their media channels.

– Follow Twitter Solcial (https://twitter.com/solcialofficial) 

– Join Community Solcial (https://t.me/solcial)

Thank you for joining the AMA!