Review Polkasocial ($PSN) – Building A Decentralised Social Network
Social networking form an integral slice of time for the daily activities of internet users today. Statista reports that during the fourth quarter of 2020, Facebook reported almost 1.85 billion daily active users (DAU).
Similarly, Polkasocial is a place where users can share moments, photos, video, streams, private messages,s and everything that is attractive in other centralized platforms, without the data leeching and forced advertising.
Concept Project – What is Polkasocial?
Polkasocial is a blockchain-based social network platform & NFT marketplace. Network, follow peers and influencers, live stream, play games, and much more.
Project is a decentralized platform where buyers and sellers can trade digital goods, services, and assets all with Polkasocial tokens.
What is the project trying to achieve?
Their goal is to disrupt and challenge the way we share our snapshots of life and interact with one another through our centralized social media platforms.
The project’s vision is to stand up a decentralized future by giving ownership of content back to our users, empowering freedom of speech as a core principle on our network, and by developing a reward system in which contributors are rewarded for their collateral.
This is a place where users can share moments, photos, videos, streams, private messages,s and everything that is attractive in other centralized platforms, without the data leeching and forced advertising.
What is unique selling point?
- Decentralized Social Media Platform
Users can either earn PSN tokens through the network through likes, posting, marketplace, etc. Users can also deposit ETH which can be added to liquidity pools to earn PSN or simply swap from ETH to PSN if you wish to make a purchase on the marketplace or run an ad etc…
- Earn off posts, gigs, bounties and services and share in platform advertising revenue
Users can earn as they interact with other users, follow groups, and post blog articles, Admins will also award high-quality posts. We will be adding a fundraising function to the platform in future iterations (currently in beta), where projects can invite users to support their project or even a charity
- No crypto-ad restrictions
- On Polkadot Chain
Users independently build the rules for using the data developed by them, prohibiting and giving permission for transfer, sale, and monetization. Blockchains, Parachains, and smart contracts will be responsible for delivering these rules. Anyone can be sure of their reliability and honesty, as Polkasocial will be open source
- Reduced Censorship
Popular Facebook, Instagram, Twitter, or YouTube accounts often suffer due to allegedly violating platform censorship regulations. This is especially apparent in countries where there are issues with freedom of speech.
PSN Tokens will be responsible for running the Polkasocial Platform currency
- Token: Polkasocial Network (PSN)
- Type: BEP-20
- Exchange rate:1 ETH = ~35,000 Polkasocial*
- Project protocol: Polkadot, BSC
- Private & Strategic Sales: Ended July 2021
- IDO Launchpad Rounds: 7th-8th October – Only on Multipad and Kwkstarter Launchpad
- Listing Date & Price: TGE / Listing will happen at 16:00 UTC on the 8th of October. Listing Price will be $0.20
- Soft/Hard cap: 500,000 / 70,000,000 tokens
Token release Schedule
Token Use Case
- PSN Tokens can be redeemed to purchase goods and services or used as coupons on platform
- PSN Tokens will be able to use to buy stuff online and offline
- Users will be able to add liquidity to the platform and mint/earn regular PSN-Polkasocial Tokens as a reward for adding liquidity to the Social Media Platform
How to own the token?
Users can earn PSN Tokens by engaging in the activities set out here:
- Ad Revenue
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
Polkapanda NFT Personal Galleries are also coming to Polkasocial Social lending and earning coming soon
Market And Community
PolkaSocial has crossed the mark of 48,500 Followers on Twitter.
Polkasocial will launch the new wallet integrated iteration just after the TGE on the 2nd of October 2021, it brings some feature-rich additional premium plans which also provide auto PSN airdrops to the Polkasocial user. This does not mean that Polkasocial Network will involve a cost to use the platform, rather it gives some tiered benefits where a contributor can enjoy other features and also receive tokens for that given fee
Find more information about Polkasocial