CirclesUBI that everyone is chasing, the focus is not on UBI, but on social networking

Author: 0x29, 0x13, Rhythm BlockBeats

Since the weekend, the CirclesUBI project has been widely spread in the Chinese currency circle. Because it has the property of pulling wool, you can receive Circles for free and issue your own personal tokens. Many users promote their QR codes in the community, hoping to gain trust (trust) operations from others.

In the concept of CirclesUBI, this is a mode that can form a UBI effect. UBI, basic income for all, is not a new term in the currency circle. Many projects such as EOS, ENU, Banano, etc. have hoped to combine blockchain with UBI, but the effect is not ideal.

What about CirclesUBI? The UBI of this project is more intuitive. Simply put, it is to form UBI by everyone issuing coins. This kind of logic is not acceptable to everyone. It is like the idea that if a region is extremely poor, the country will print more money and distribute it to the residents of the region to make them rich. This model cannot stand scrutiny. More precisely, this is just a coin-based UBI.

But maybe, the focus of CirclesUBI should not be UBI, but social.

Social Token Concept

The social tokens (Social Token) mentioned here are not the common "social application tokens" we usually use. ONO, Steem, Reddit, and even the water droplets in the oasis launched by Weibo last year are all "platform tokens". .

The characteristic of "social platform token" is to generate value circulation within the platform, but "social token" is not, The starting point of the latter is people.

The core of social tokens is that you get a service from a person.

According to the application examples in the CirclesUBI white paper, it can be understood that two users who have performed trust operations on each other can With a 1:1 exchange rate transfer, Alice who owns 10 AliceCoins and Carol who owns 10 CarolCoins transfer 5 tokens to each other, and the result is that they each own 5 AliceCoins and 5 CarolCoins.

There must be a transaction when a transfer occurs. The reason why Alice wants to transfer money to Carol is based on two prerequisites. One is that Alice trusts Carol, the second is that Alice can obtain goods or services that she thinks are equivalent. And 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, with the latter 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 service grows, When a community is formed, personal tokens have evolved into community tokens. Community tokens can be understood as members, but the core of this kind of membership is still an individual. The group owner sends a token and members can use this token to pay for the knowledge of the group owner. This is a kind of "social token".

In other words, what "social tokens" actually do is decentralized ", 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 point is, it's social. In this project, the issuance of personal tokens is carried out in batches, and then the two 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 starting.

Actually, before CirclesUBI, the track of social tokens already had a certain scale.

Social Token Project

On the zerion platform, 15 social tokens have been included, the most famous of which should be WHALE, which has been widely spread recently due to NFT, and its market value has already 25 million dollars. Rhythm BlockBeats sorts out the current relatively mainstream social tokens, and you can get a full picture of the current section.

ALEX

< br>

ALEX is the entry token for many people when they 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. Founder Alex Masmej issued this token to raise enough funds to allow himself to move to San Francisco to continue working in the crypto space, and he actually raised $20,000 from the "I.O.ALEX Offering" to complete the relocation.

The ALEX token combines the concept of a "small revenue sharing agreement" and an IPO, Alex Masmej three years after the token launch During the year, 15% of his income will be distributed to token holders every quarter; at the same time, ALEX holders will also receive some privileges, such as private meetings with Alex and helping Alex make decisions through voting governance.

SWAGG

< br>

SWAGG is a diverse social networking site centered on the SWAGG community. Carlos Gomez, the founder of SWAGG, said: "Our goal has always been to keep community members passionate about the community and promote community development through the interesting intersection of encryption, cultural aspects, community collaboration, and creativity."

In other words, SWAGG can be used in a variety of ways. Holders of SWAGG can participate in the entire ecosystem built around SWAGG tokens.

The specific uses of SWAGG tokens include: access to artworks in the SWAGG network, and SWAGG airdrop rewards before the public sale Provide SWAGG funding for projects initiated by the community. At the same time, community members can get SWAGG rewards for sharing valuable content, and can also exchange tokens for community creation and make suggestions and vote on SWAGG community actions.

JAMM

< br>

JAMM is used as a means of payment when reading "Jamm Session" blog posts, the current price is 1000 JAMM per article read.

Using social tokens as a payment method for reading blog posts is a very complete incentive mechanism. Generally speaking, subscribers often need to pay legal currency when paying for media, and the price paid by each subscriber is the same, and there is no connection between new subscribers and original subscribers. With JAMM as the means of payment, new subscribers need to purchase JAMM tokens in order to pay for reading. The more subscribers, the greater the demand for JAMM. The increase in demand will lead to an increase in the price of JAMM, and the 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 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.

COIN

< br>

The COIN community is an "inclusive and experimental community powered 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 direction of COIN's development. Members of the community can do some interesting things, such as designing encrypted puzzles, that is, to embed addresses containing encrypted currencies in encrypted artworks through programming, and those who solve the puzzles will be able to own these encrypted currencies. Very famously, she once embedded 5 BTC in the work "The Legend of Satoshi Nakomoto", whose value had soared to about $50,000 by the time the puzzle was solved.

In addition, COIN tokens also have a very interesting mechanism, which allows COIN holders to use their coins in exchange for CRED tokens. In the upcoming game Neon District, CRED tokens will be exchanged for rare items in the game.

WHALE

< br>

WHALE is currently the most successful social token, issued by WhaleShark in May 2020, with a market capitalization of up to $30 million. What's even more incredible is that WHALE has now expanded into a complete ecosystem and community, and has created a DAO, making it fully managed by the community.

Different from other social tokens, the value of WHALE is supported by a large number of NFTs, which are Kept in the WHALE "vault" containing NFTs valued at ~$1.4M (figures as of September 2020 - audit conducted by nonfungible.com). WHALE is not only supported by the value of NFT, but also can be used for a series of different functions in the community, such as participating in activities, games, WHALE DAO governance, purchasing NFT from the treasury, etc.

RAC

< br>

RAC is issued by the Grammy Award winner RAC. Holders of a certain amount of RAC can participate in exclusive products held by RAC in digital product trading markets such as Zora or SuperRare Exclusive privileges such as press conferences.

SKULL

SKULL is a social token created by Madrid-based crypto artist Skeenee, who Visual descriptions of human and animal deconstruction are passionate. SKULL tokens can be exchanged for NFTs created by Skeenee and peripheral products such as clothes, hats, art paintings, tattoos, etc.

MORK

< br>

MORK is issued by encrypted artist Hackatao. Holding 500 MORKs can join the exclusive Hackatao Discord channel. In this channel, MORK holders can discuss art with Hackatao and get Hackatao Real-time updates of works being created and newly released, professional research and analysis of the encrypted art market, cooperation with Hackatao, etc.

FIRST

< br>

FIRST is a community-based social token issued by music producer and famous DJ Harrison First. Focusing on multisensory experiences of sight and sound, First's work bridges the worlds of music, art, and now cryptography. Token holders will become members of First Generation, an exclusive creative community, where they can get DJ preset packs, discuss music insights with First, listen to unreleased music in advance, and more. In addition, FIRST holders can also get airdrop rewards by sharing music released by First on Spotify every week.

CHERRY

< img src="https://image.theblockbeats.com/upload/2020-10-21/1d0424a304be712dd1059206f026cf77f42645ce.png?x-oss-process=image/quality,q_90/watermark,image_d2F0ZXJtYXJrbmV3LnBuZ w==,g_center,p_10">< br>

The concept of the CHERRY community is simple: bring creators and benefit from the development of the community. There is no third party in the community, and it is entirely composed of community members, improving the quality of content in the community and bringing 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 events. 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 the amount of tokens held, and each level has a different Benefits such as airdrops, special NFT collections, 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 token" can only be regarded as an experiment, not an overall Things in the currency circle, in a market chasing ups and downs, "social tokens" are just a small but beautiful thing. But it can let us realize that at the beginning of the birth of cryptocurrency and when Bitcoin was not yet a commodity, geeks obtained and paid purely by interest.

Imagine if Wutiao people used social tokens in exchange for band development funds in the early years, and you were optimistic about their situation If you hold five Renminbi coins and experience a Le Xia, you may never have such regrets as "the former treasures were discovered by the public", because your regrets have been diluted by the value growth of the tokens.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia