Solcial AMA Recaps

We conducted an AMA on June 21 to talk about how Solcial is progressing up to date. ICYMI, please read through the transcripts to learn more.

Host: Kai — Growth Manager at Waggle
Guest: Tina — Marketing Manager at Solcial

Waggle Questions

Kai: Hi Tina! Welcome back. It’s great to have you here again @tina_solcial, looking forward to catching up with you. Shall we start with the introduction questions?

Tina: It’s great to be here back again

Kai: The market has been in absolute turmoil lately, how is Solcial coping and what have you guys been up to recently?

Tina: Yes the bear market is difficult for many people in the community, so we try to keep their spirits up. On our side we focus only on what we control: building and improving the product, and growing the community. Crypto bear markets can last from a few months to a few years so we hope people will be able to survive and grow with us.

Kai: This is true for Waggle too, we can only build and improve. Okay let’s focus on your product a bit more today. How does Solcial make a profit? 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)

Kai: Thank you Tina, good to hear some sustainability built into your project.

Kai: What incentives do creators have on Solcial to encourage more quality and quantity of content rather than other platforms?

Tina:

Good question, on Solcial you are actually encouraged to post valuable content to your followers that have invested in you for a reason. So you can share whatever insights, knowledge or information you want to share with them.

Whatever is your talent, or the value you add, as long as the world is willing to pay for what you offer, you can have a market cap, and create a business of your own. Even if you’re just a humorist, making jokes all day, people can buy your token to see your ‘premium jokes’ on their feeds. And you can monetize fyour talent by becoming like a public listed company. This is very powerful and should incentivize people to post valuable, quality content on this social network, rather than wasting their time with funny dances like on tiktok or others.

Also youtubers will be able to share their insights right away to their investors/followers, they don’t have to make 5 min long videos for an insight that lasts only 10 seconds. People want the quality, and your token price, and market cap, will be reflective of that.

Kai: Everything has its value, I can see that being an effective way for Solcial to grow. Okay we have one more introduction question before we move onto the twitter questions.

Have you any highlighted features in your “Solcial” platform that can makes it stand out in the market against others platforms? Is “Solcial” open for beginners or only for crypto experts? How would you welcome non-crypto natives to explore in your platform?

Tina: Solcial is built for everyone, even though its underlying technology is based on blockchain, we want to make a simple app that even our mums can use :) But initially we expect to have more appeal for the crypto natives, given the nature of the platform, they should be the main early adopters.

Kai: Thank you Tina.

Pre-Selected Questions from Twitter

@12nhurodin27 asks:

With the market trending down like today, do you have any advice or encouragement to make users feel more secure about your project?

Tina:

We know people are selling because they’ve been destroyed in Luna or just in the bear market in general with BTC, ETH down a lot. So they’re selling anything of value to recoup their losses.

But on side we’re only focused on building our platform. We have already onboarded lots of users from the community as testers and we’re improving on their feedback, fixing a few things and adding the features they requested.

Once they’re all happy and have all the features we’ll open Solcial to everyone to be able to see what we’ve been up to. So to answer your question, even though the market goes up or down, it doesn’t change anything to the work our team does every day. We have a plan and we’re sticking with it.

Kai:

Oh man, I lost a few hundred on Luna. Not as bad as some I guess. But that’s great to hear that Solcial can adapt to the market conditions. Next question then.

@Sparkpoetic asks:

With the huge number of Competitors like Facebook, telegram, Twitter and discord which are popular, what edge do you have over them aside being “Permissionless”? How many users do you have currently? & how will you get the millions of people in the world to know #Solcialofficial?

Tina:

All these web2 competitors are basically the same, they all can shut down your account and delete your messages in an instant. Plus they keep all the profits for themselves.

Aside from being permissionless, on Solcial you can also make money, which is a nice thing that many people want ;)

To onboard users we have a very detailed plan that is being executed as we finish the platform. But the important thing at this stage is not get a million users (they could come and go), instead now the focus is the get network effect (a recurring group of users that comes back all the time), and we already have that. Stage 2 to grow the number of users and their frequency of visits is also ensured through various mechanisms which we can’t disclose right now (until we launch officially to the general public).

Kai:

Organic growth is probably more important as you say. Okay final winning twitter question:

@AndyToshi_cryp asks:

What kind of alternatives or tools will Social use to democratize social networks and that there is participation and transparency about the products and content offered by users? How would you prevent them from being censored by government entities?

Tina:

The main tools are pretty technical, like using IPFS for storing data, using specific algorithms to scale encryption to a lot of users (which no one has ever been able to do so far).

To prevent censoring we also have a panel of features that we’ll roll out over time, so even though the first version will have some centralized parts, we’ll progressively deploy the decentralized features to make sure that the more we grow, the more censorship resistant we’ll become. And we’ll communicate regularly about all these upgrades to inform the community on the progress and tools on our arsenal.

Kai: Okay looking forward to seeing those features rolled out in future.

Live Questions

@BrittaneyFite1991 asks:

Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?

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

@DessieAldridge asks:

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:

Yes we do have an ambassador program, this will help: https://blog.solcial.io/english/solcial-ambassador-program

This is our leaderboard from the last month!

@Yon_call_34 asks:

According to the project’s roadmap Solcial — what are your most important next priorities Solcial?

Tina:

Here’s a link to our roadmap: https://wiki.solcial.io/the-basics/roadmap

Kai: We encourage you to learn more about Solcial if you haven’t done so already.

Tina: This one pager is very cool! Appreciated!

Kai: Thanks for taking part today, glad Solcial is doing good despite the craziness in the market. As always let’s remind ourselves of Solcial’s various links.

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Waggle Network

Waggle Network

Waggle enables retail investors to participate in primary market investments