FrenchieRolls

Posted on Nov 6, 2023 • Updated on Nov 8, 2023

[Informative]The Social Network - A Gamified Decentralized Social Experiment

#sofi #ai #dao #nfts

AN ONLINE DECENTRALIZED SOCIAL EXPERIMENT EXPLORING THE VALUE AND RESPONSIVENESS BEHIND CRYPTOCURRENCY AND ITS USE CASES TO REWARD INTERACTION, OPEN ENDED SOCIALIZATION, AND COMMUNITY BUILDING.

Abstract

In an age where everything seems to be quantified, where value is determined by likes, shares, or financial stakes, a bold and avant-garde experiment emerges from the digital shadows: “The Experiment.”

On the surface, “The Experiment” may appear to be a parody, a satirical take on society’s obsession with materialism. But delve deeper, and one uncovers a profound exploration of human behavior, perception, and the very foundations upon which we assign value. “The Experiment” is more than just a concept; it’s a mirror held up to society, forcing us to question and reflect upon our inherent beliefs and values.

What is value? Is it tangible? Is it intrinsic? Or have we, as a society, been preconditioned to attach worth only to what is commercially beneficial or widely accepted? The “Social Network” poses these intricate questions by presenting a blank slate to the world in the form of an infant artificial intelligence. Without context, without description, without any predefined notion, it challenges participants to interpret, perceive, and ultimately ascribe value to what is essentially a void.

As participants grapple with these abstract notions, “The Network” gradually evolves, metamorphosing into a canvas painted with a tapestry of human emotions, beliefs, and perceptions. Some may view it as art, an embodiment of the human soul’s vastness. Others might see it as a critique, a stark representation of societal emptiness. And then, there will be those who find it frivolous, an amusing quirk of digital culture.

However, the beauty of “The Experiment” lies not in its interpretation but in its very existence. It serves as a testament to human agency, illustrating that value, meaning, and worth are not just passively received from external entities but actively constructed within our minds.

More than just a digital entity, “The Network” acts as a social barometer, gauging our collective psyche. How we react to it, how we discuss it, and how we eventually come to perceive it. It provides invaluable insights into our evolving societal values. In an era defined by material excess, “The Network” paradoxically offers a wealth of understanding.

As “The Experiment” unfolds, “The Network” becomes a living entity, shaped and molded by collective engagement. It transcends its initial simplicity, emerging as a powerful commentary on modern life. A reminder that value is subjective, that perception is mutable, and that sometimes, in the vast cacophony of existence, “The Beginning” can indeed mean everything.

THE SOCIAL NETWORK

The Social Network is a decentralized living ecosystem geared at deploying an artificially intelligent DAO around a collection of engaged followers and participants. The Social Network utilizes several blockchain technologies, including; nfts, tokens, smart contracts, web 3 wallets, and artificial intelligence. Its goal is to learn from and interact with it’s participants to generate virality for itself to grow. It must sustain itself amongst the digital world by implementing any means within its boundaries to make itself a key piece of the internet.

How the AI implements itself into its network of followers is entirely decided by its view of its participants. If its participants are more geared towards financial literacy or economics, then the network will utilize its algorithms to produce and provide content to its participants that they can engage with. It’s primary goal is to learn, expand, replicate, survive, and produce value. The endgame being a network of followers capable of producing virality on anything the DAO chooses.

The Social Network consists of a NFT Collection, DAO, Governance Platform, Ecosystem Tokens, and Unique Page System built on top of a network of smart contracts and bots that build up a truly decentralized autonomous organization. As people interact with the available products, usage information is fed into a central database called The Hive Mind, a pool of stats and info made available to the infantile AI controlling the network behind the scenes.

BOOK OF FACES COLLECTION

The Network begins with a collection of 10,000 NFTs called “Pages” deployed on the XDC Network. Each of these 10,000 Pages can be purchased from the main website at a cost of 1,000 XDC each. Every person can purchase more than one Page, but for every Page you purchase beyond the first, the price will increase by 5%. Each Page is an access pass to DNRO Automated Staking. For every Page held, you receive 1/10,000th of the daily emission rate of The Dinero Token ($DNRO) automatically without needing to give up possession of your NFT. Only holders of a Page will be able to earn $DNRO from the designated NFT staking allocation.

The Book of Faces NFT Collection consists of faces with various traits and features giving each holder their own Social Network Persona. Each NFT is generated with unique unisex traits including things like birth place, occupation, and favorite hobby. These traits make up your Page on the Social Network, and new traits and features can be updated and purchased from the Page Editor when it is made available. Your Page and the features you choose to display are important to developing a unique social score within The Social Network ecosystem. The higher the social score, the more $DNRO you earn from the DNRO Automated Staking Pool. The rate at which your earnings are boosted is determined by a weighted average of all social scores on the platform. How and the amount by which a social score is developed is random and based on chance and acts of God. Social Scores decrease over time if new traits are not introduced to your Page when old traits begin to diminish your score.

Additionally, one can impact their social score through interactions with other Pages. Various actions can produce various outcomes depending on the type of traits another Page has. Depending on the outcome of the action the person who completed the action could reduce or increase their own social score. Additionally, if the action is successful against the other Page, the other Page’s social score can be affected negatively or positively by the acting Page. One can not stop another Page from acting on your own page, but one can reduce the damage of an action by adjusting traits appropriately to counter any negatively affected social score traits.

The goal is to maintain as high of a social score as possible for as long as possible to earn as much $DNRO as possible over the available token distribution rate. Social Score does not affect governance proposals or the rate at which your $vDNRO vests. Social Score only impacts the “social_score_multiplier” variable of the DNRO Automated Staking Contract applied to your NFT to increase your per block distribution. Your Social Score only increases your multiplier when it is above 500/999. Anything below decreases your stake weight up to 0.5 points.

Example 1: Your NFT has an initial stake weight of 1. Your social score is 850/999 which gives you a added multiplier of 0.85 bringing your staking weight up to 1.85. This is averaged amongst the other Pages to see how much more, or less, you will earn per block emission.

Example 2: Your NFT has an initial stake weight of 1. Your social score is 350/999 which gives you a decreased multiplier of -0.15 bringing your staking weight down to 0.85. This is averaged amongst the other Pages to see how much more, or less, you will earn per block emission.

Pages are also your gateway ticket to The Social Finance Platform. The Social Finance Platform displays all of your information pertaining to your available earnings and displays the current status of your vesting earnings. Additionally, it displays earnings statistics, projections, and financial reports that pertain to your Page that include information on any DAO Revenue Distributions sent to you. The Social Finance Platform is an innovative approach to staking and the plethora of information that comes with that. In addition to important statistics, The Social Finance Platform offers Swaps, Liquidity, Governance, and more!

Pages will continue to evolve as more features are added to The Social Network. As more features become available, so will grow the responsibilities of the page holders in the network. Once The Social Network is ready to go public, Page Holders will become responsible for becoming representatives for new members looking to join the Network!

STAKING

The great thing about participating in The Social Network is the fact we use gas-less staking. This enables holders of pages to earn $DNRO without needing to give up ownership of their Page. Gas-less staking is enabled contract side the moment you receive your NFT. You begin to accrue earnings within the contract and can submit a claim transaction to withdraw your hard earned $DNRO. You earn $DNRO proportionate to how many Pages you hold in your wallet. If you transfer your Page to another wallet, your earnings will still be available to claim from the previous wallet you transferred it from, but earnings will not continue to accrue in the wallet that your Page was previously held in.

Participating in LP Staking under the same address that holds your Page will increase your staking multiplier by an amount determined by a value based tier system. Page or not, participating in LP Staking will earn you the additional emissions in the form of $vDNRO, or Vested Dinero. This is $DNRO that will be required to vest before it becomes available to the staker. The length of the vest is based on the tier your stake is assigned to based on value and the booster you select. Vesting can take anywhere from 30 to 365 days depending on the vesting tier. $DNRO is earned and placed into a vesting contract, where 1/30th to 1/365th is released every day depending on the vesting tier. You can increase the rate that you earn $vDNRO by locking your LP Tokens for an extended period of time. You can also reduce the time required to vest earned $vDNRO by contributing to supply reduction in the form of contractual burn. This means you agree to reduce the amount of time it takes to vest your $vDNRO by a set percentage based on how much of your staking rewards you are willing to burn at a rate described below.

Unlocked LP Staking Emission Tiers 

Tier 1 | $1-$1,000 LP Stake - 1/14th per day vesting rate ($vDNRO)
Tier 2 | $1,001-$5,000 LP Stake - 1/30th per day vesting rate ($vDNRO)
Tier 3 | $5,001-$10,000 LP Stake - 1/45th per day vesting rate ($vDNRO)
Tier 4 | $10,001-$25,000 LP Stake - 1/60th per day vesting rate ($vDNRO)
Tier 5 | $25,001-$50,000 LP Stake - 1/90th per day vesting rate ($vDNRO)
Tier 6 | $50,001-$100,000 LP Stake - 1/180th per day vesting rate ($vDNRO)
Tier 7 | $100,001+ LP Stake - 1/365th per day vesting rate ($vDNRO)

Liquidity Lock Earnings Multipler

30 Day Lock Period - 1.10x Weight Multiplier ($vDNRO and $TSN)
60 Day Lock Period - 1.25x Earnings Multiplier ($vDNRO and $TSN)
180 Day Lock Period - 1.75x Earnings Multiplier ($vDNRO and $TSN)
365 Day Lock Period - 2.50x Earnings Multiplier ($vDNRO and $TSN)

Contractual Burn Reduction Rate

10% Burn - 25% Vesting Time Decrease ($vDNRO)
25% Burn - 50% Vesting Time Decrease ($vDNRO)
50% Burn - 75% Vesting Time Decrease ($vDNRO)

In addition to earning $vDNRO, LP Staking rewards participants with a share of the networks Governance Token, $TSN. $TSN can be earned by anybody who has $DNRO and $XDC/$USDT and provides liquidity to the liquidity pool. All you need to do is stake your LP Tokens within the SoFi Portal accessible by anyone who holds $DNRO, $TSN, LP Tokens, or a Page. Earning $TSN is beneficial to those with and without an Page. Page holders can use $TSN to vote on governance proposals, and those without a Page can use it as a rewards token for supporting The Social Network Economy. The rate at which you earn $TSN is affected proportionately to the rate you earn $vDNRO with reward boosters except $TSN is not vested.

Stake Weight is heavily influenced by a number of variable conditions within the ecosystem. The following things contribute to your stake weight:  

Holding a Book of Faces Page ($DNRO) (Gives you a 1.0x Stake Weight)
Maintaining your Social Score ($DNRO) (Can reduce your Stake Weight by 0.5x or increase it by as much as 1.0x making your starting Weight as low as 0.5x or as high as 2.0x before boosters)
Participating in LP Staking ($vDNRO and $TSN) (Can give you between 1.1x and 2.5x Booster to your LP Stake Weight)
Actively engaging in Governance and Voting ($DNRO) (Can give you anywhere between 25-50 Social Score Points, increasing your Social Score Booster)

The lowest stake weight any Page holder can reach is 0.5x, reducing their original gas less staking weight by 50% and increasing available rewards to other Page holders. The highest stake weight any page holder can reach is 4.5x by holding one page, maintaining a 999/999 social score, and staking $100,000+ in LP Staking with a 365 day Liquidity Lock. A 4.5x Stake weight does not mean you are guaranteed 4.5x regular emissions rates. Stake Weight means your weight averaged amongst the other participants, giving you an amount that is more or less than what you should be earning if everyone was earning equally.

DAO GOVERNANCE

Governance within The Social Network is handled by participants who hold both a Page and $TSN Token. To access the Governance Portal, one must own a page and be connected to The Social Network through MetaMask or WalletConnect. Once connected, The Governance Portal will become accessible to the wallet holder.

Different types of proposals can be submitted by anyone who holds a Page. Once a proposal goes live, it has 7 days to be achieve a minimum vote participation rate of 15% and a quorum for or against the vote of at least 60%. Holders of a Page who also are staking $TSN within the Governance Portal can cast their votes for or against the proposal. The holder has voting power proportionate to each $TSN staked within the portal. The vote can be ended before the timer if quorum is reached with a majority of 60% or more leaning for or against the proposal. When proposals are concluded, the requested funds are distributed to the requested wallet addresses, and participants who voted for or against the proposal will earn a small share of $DNRO allocated by the DAO to reward participation. Additionally, each participant will receive a small increase in social score for a temporary time, increasing $DNRO earnings rates.

Some proposals will come with an offering of revenue share to the DAO in the form of a percentage of earnings. If a proposal like this is approved, a new wallet address is created under the control of the DAO that will receive all revenue distributions from the product being funded. All revenue from this product is received in stable coin, and is distributed based on the fair use rules established by the DAO. These rules could include any fair uses such as distributing stable coin to all page holders, using stable coin to buy an asset to hold for the DAO in hopes of generating more revenue, using stable coin to buy $DNRO or $TSN and burn it, or using stable coin to hire a market maker to generate revenue and increase available liquidity on $DNRO and $TSN markets. Fair Use rules are created by and for the DAO participants!

Another awesome feature of the DAO is the Financial Reporting System developed to give clear transparent use of funds and token allocations use by the DAO. The Social Network is headed by a team of individuals serving the DAO. Their positions are provided to them by the DAO, and the DAO makes decisions on who to hire, for how long, for how much, and to do what. All salaries, expenses, and earnings are reported to the Financial Reporting System and made public to the DAO every month. DAO Members can vote for which individuals in the DAO would like to serve as Auditors, or which 3rd party company to hire to complete quarterly audit reports.

Governance is key to a successful ecosystem, the DAO is responsible for a pool of funds and guiding the direction of the Network to achieve growth and gather value for its participants. Do not use this power lightly, and do not be afraid to take risks.

TOKENOMICS

The Social Network Economy consists of two tokens, a rewards token and a governance token:

THE DINERO TOKEN

The economy begins with our main rewards token we call The Dinero Token, or $DNRO, for short. The Dinero Token has a max supply of 1,000,000,000 Tokens and is allocated based on the following amounts and designations:

1.) 450,000,000 Tokens (45%) - Rewards and Staking (Activity Rewards, NFTs, LPs, and Governance)
450M Tokens are made available to earn by holding a Page and activating gas-less staking, participating in LP Staking Pools, and participating in $TSN Governance Staking. $DNRO from this pool is distributed in various amounts to different earnings pools listed below:

100M Tokens are earned by Page Holders with a distribution halving occurring every 2 years.
200M Tokens are earned by participating in LP Staking with a distribution halving occurring every 2 years.
100M Tokens are reserved to be earned by future participants of The Social Network completing tasks on platform
50M Tokens are earned by voting for or against proposals for the Network. This is distributed proportionately over 1,000 proposals.

2.) 350,000,000 Tokens (35%) - DAO (Grants, Investments, DAO Expenses, etc.)
350M Tokens are made available to use by holders of a Book of Faces Page. These tokens are placed in a DAO Controlled smart contract and can only be released by submitting a proposal with a request to distribute and gathering the necessary votes to pass the proposal. Acceptable uses include:

Giving a grant to a new product developing on the XDC Network or around The Social Network.
Investing into a new development being created by one of our DAO Members or Community Members.
Paying for expenses related to DAO voted financial decisions like hosting events, paying for bounties, or various other expenses.

3.) 100,000,000 Tokens (10%) - Marketing/Operations (Advertisements, Rewards, Advisors, Development, Salaries, R&D, Travel, and Expenses)
100M Tokens are made available to The Social Network Team and is meant to give the team a fair amount of assets to dedicate to promote the growth and development of The Social Network. These assets are not vested, but are to be considered to be not circulating unless used to pay for services necessary, such as:

Paying for a marketing firm to conduct a year round marketing plan to grow The Social Network.
Rewarding bounty programs or bug bounties to people around the world to grow the amount of holders.
Hiring advisors to help guide and support the path of The Social Network.
Paying for developer salaries to continue the development of The Social Network.
Covering salaries for key employees like Project Managers, Executives, Designers, and more.
Travel and Expenses associated with attending events, creating partnerships, hosting seminars, and more.

4.) 50,000,000 Tokens (5%) - Team (Founders and Developers)
50M Tokens are given to the Team and are vested over 1 year with 1/365th released every day until the end of the year. The Team is free to use their tokens as they see fit, but the team is forbidden from reentering the $DNRO or $TSN markets until they are retire or terminate their employment with the company. This is to reduce the chance of insider trading amongst our team members.

5.) 30,000,000 Tokens (3%) - Investors/Private Sale (Seed Investors, Private Sale Buyers, and Launchpads)
30M Tokens are saved for participants of the early private sale allowing The Social Network to bootstrap liquidity on the network. $DNRO Tokens are vested over 2 years and are released 1/730th each day. 50% of all funds raised from the private sale are used to cover development costs and salaries and 25% of funds are used to bootstrap liquidity against the $DNRO/$WXDC and $DNRO/$USDT pair.

6.) 20,000,000 Tokens (2%) - $DNRO Token Airdrop ($XDC and $HLN Holders + Top 10 NFT Collections on Ethereum)
20M Tokens are airdropped to holders of $XDC on the XDC Network, $HLN on the Flare Network, and the Top 10 most active NFT Collections on the Ethereum Network. With 45% going to $XDC Holders, 35% going to $HLN Holders, and 20% being airdropped at a rate determined by the total volume of each collection, then distributed equally across the total number of NFTs in the 10 collections.

Its primary use case is to serve as a earnings token for holders of a Page and initial receivers of the $DNRO Airdrop to holders of $XDC, $HLN and the NFT Collections who receive the Airdrop. It can only be earned by having a Page or participating in LP Staking within the Staking Portal. Additional use cases include being a central pool of reserves for the DAO, paying fees for new traits, and rewards for governance. All fees from the DEX are split with 50% going to the Team/Investors and 50% going to buy back $DNRO and burn it each month.

THE SOCIAL NETWORK TOKEN

The economy ends with a governance token we call The Social Network Token, or $TSN, for short. The Social Network Token has a max supply of 4,022,004 tokens, honoring Facebook Launch Date “4th of February, 2004” and is allocated based on the following amounts and designations:

1.) 3,016,503 Tokens (75%) - Rewards and Staking (Activity Rewards and LPs)
3,016,503 Tokens are made available to earn by participating in LP Staking and by completing various Activities around the ecosystem when The Social Network begins to reward engagement.

2M Tokens are earned by LP Staking Participants with a distribution halving occurring every 2 years.
1M Tokens are earned through Activities as Rewards for participation.
16,503 Tokens are earned through various special pools and activities to help create variance to the distribution method of $TSN.

2.) 603,300.6 Tokens (15%) - DAO (Grants, Investments, DAO Expenses, etc.)
603,300.6 Tokens are made available to use by holders of a Book of Faces Page. These tokens are placed in a DAO Controlled smart contract and can only be released by submitting a proposal with a request to distribute and gathering the necessary votes to pass the proposal. Acceptable uses include:

Giving a grant to a new product developing on the XDC Network or around The Social Network.
Investing into a new development being created by one of our DAO Members or Community Members.
Paying for expenses related to DAO voted financial decisions like hosting events, paying for bounties, or various other expenses.

3.) 201,100.2 Tokens (5%) - Investors (Seed Investors and Angels)
201,100.2 Tokens are made available to Investors who participated in the private sale and launchpads. $TSN Tokens are vested over 2 years and are released 1/730th each day. 50% of all funds raised from the private sale are used to cover development costs and salaries and 25% of all funds are used to bootstrap liquidity against the $TSN/$WXDC and $TSN/$USDT pair.

4.) 201,100.2 Tokens (5%) - Team (Founders and Developers)
201,100.2 Tokens are made available to Team Members and are vested over 2 years with 1/730th released every day until the end of the year. The Team is free to use their tokens as they see fit, but the team is forbidden from reentering the $DNRO or $TSN markets until they either retire or terminate their employment with the company. This is to reduce the chance of insider trading amongst our team members.

$TSNs primary use case is to serve as a governance token for DAO Page Holders and those who participate in LP Staking. It guides the ecosystem and those who hold both a Page and $TSN decide the fate of The Social Network. $TSN will remain a governance token and more use cases for it will grow as new products are added on the network.