Subsocial Network, a decentralized platform designed to help create decentralized social networks, won the recent auction of Parachain items in Kusama from over 11.9,000 stakeholders. A total of 16.5 million (16.5% of the total offer) SUB tokens will be distributed as a reward to Crowdloan participants. This is only the fourth crowdloan to have reached the 100,000 KSM cap.

Subsocial is building the future of social finance

Once again, community power took over Kusama’s crowdloan song. Has sub-social group share an official announcement on Twitter.

Subsocial is a new social networking project that runs on the very advanced Polkadot blockchain. After winning the slot, 16.5% of the total initial SUB offer will be allocated to the crowdloan. Of this, 15 million will be distributed as a guaranteed reward. The remaining 1.5 million will be allocated to the referral bonus and distributed according to the terms of the referral program.

Crowdloan participants can also earn referral bonuses. Each person receives a unique referral code that enables them to generate a reward of 15 SUB for each KSM donated by the referrer, split 50:50 between the referrer and the speaker. Unused referral funds from the 1.5 million SUB allocation will be returned to the Treasury and used for the next crowdloan.

SUB rewards are subject to the evaluation schedule. Once received, 20% of the reward will be available immediately, while the remaining 80% will be awarded within 48 weeks of the Parachain position lease.

With the growing awareness of privacy and data concerns on the most popular social media platforms, today’s users prefer improved visibility. As a decentralized hub, Subsocial aims to revolutionize online engagement.

In addition to the current features offered by social platforms, Subsocial can be customized to allow content creators to control their source of income.

Subsocial aims to help users develop new versions of some of the widely used social platforms like Twitter, Instagram, Medium and others.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to Cryptoslate

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page