Web3 app ecosystem Pi Community has launched a “self-moderating” social platform with built-in tokenomics, meant to encourage higher content material and lift accountability – the place customers pay to submit.
Based in 2018, Pi Community is described as a neighborhood of Pi miners who’re engaged on constructing the Web3 ecosystem.
On Wednesday, the undertaking revealed the decentralized Fireplace Discussion board – a Web3 social platform that emphasizes authenticity, constructive conversations, and more healthy on-line interactions, according to the press launch.
This platform permits Pi Community members, aka Pioneers, to work together with thousands and thousands of different folks. Nonetheless, the brand new mannequin dictates that the Pi crypto is used to reward optimistic and penalize destructive interactions and habits in posts, replies, and channels.
The press launch acknowledged that,
“This newest product providing from the Pi Core Workforce envisions what a real Web3 social community will be by integrating tokenomics to extend accountability and encourage higher content material, whereas tackling spam and on-line harassment.”
Fireplace Discussion board is accessible on the Pi Browser, a Pi Community cell app that may be downloaded on Google Play or the Apple App Retailer without spending a dime.
Your Phrases Will Value You
The group argues that, not like conventional social media platforms, cryptocurrency is built-in into the core of Fireplace Discussion board’s social mechanism.
Using tokens is supposed to assist reasonable habits on-line and create a “more healthy person expertise.”
Moreover, the customers pay for posting.
“Counterintuitively, [Fireside Forum] explores the thought of making posts at a price, whereby authors can solely get well this price – by way of ideas from an approving decentralized viewers – by offering nice content material.”
This, the group mentioned, is anticipated to lead to “significant interactions,” and it’ll additionally give extra visibility to the content material “the neighborhood considers precious,” primarily based on the engagement stage.
Moreover, it’s meant to handle the spam and on-line harassment points plaguing the sector.
That is the place the decentralized facet of the platform is available in, with the Pi Community saying that,
“This offers the neighborhood decentralized authority on how content material will development, encouraging not solely extra genuine interactions however larger accountability.”
Pioneers have to go a KYC program to work together with different, additionally KYC-verified, pioneers.
As soon as they migrate their mined stability to Pi Mainnet, they’ll purchase in-app tokens with their Pi crypto. They’ll want these tokens to do something on the platform, together with posting and replying to posts, in addition to selling and demoting any particular content material.
These are additionally the tokens that creators obtain as ideas primarily based on neighborhood engagement with their content material.
“Conventional social networks are combating misinformation, trolling and web violence. Blockchain and cryptocurrencies can facilitate the much-needed change that persons are hoping for,” mentioned Nicolas Kokkalis, a Founder and Head of Expertise at Pi Community.
Chengdiao Fan, the opposite Pi Founder and Head of Product, added that they created the design for Fireplace Discussion board “primarily based on learnings from prior analysis about on-line habits and interactions, and our hypotheses about crypto-fueled options to probably handle the failings of conventional social networks,” including that “true Web3 social options must be extra than simply shifting issues onto a blockchain.”
This platform is “simply one of many early instantiations” of Pi Community’s work in social networking, they mentioned, and its design will proceed to evolve primarily based on the information they achieve.