4 min read · Sep 23, 2021
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Have you ever wondered where the Social Media future is heading to? With privacy, censorship, ownership of data, and legitimate security being topics of paramount importance where meaningful freedom is concerned moving forward in the digital age, The LoveChain is a new Social Media platform exploring these outcomes.
With our app, we envision a future where social media is fragmented, decentralised, protects its users’ data and hands ownership over to its users. A hub where meaningful participation equals immediate economic rewards and content created is preserved forever. Think digital ‘love-locks’ on a digital bridge — the seed of inspiration for creating The LoveChain.
But why #Love? Love inspires, motivates and stimulates people. People can love their partners, parents, children, pets, friends, teams, music, food, and more. Love is everywhere! And coincidentally, love is also the number one hashtag in the world. Thus it makes sense to create a platform dedicated to celebrating the people and things we love.
Unlike the all-pervasive monopolies of Instagram or Facebook, we aim to empower our users from the get-go, establishing the infrastructure to allow for merchants and third parties to seamlessly integrate and, to eventually make for an entirely decentralised system.
For those unfamiliar with the crypto ecosystems, let’s break this apart…
The ‘LOV’ token serves holders and users by allowing active participation in the governance and direction of The LoveChain community and is essentially set to grow in value as users flock to the ecosystem. The token will be listed on major exchanges for purchase and it will also be redeemable in the future for discounts on goods and services through The LoveChain’s marketplace (not included in the initial release). As such, it’s another avenue for investors to partake in the success of The LoveChain community.
A ‘burn’ of the token supply is intended to be implemented based on a fixed quarterly percentage of the revenue pool.
A much larger pool of 8 billion ‘LOVR’ tokens acts as the rewards program. Users of The LoveChain app can earn these reward tokens by gaining followers, creating and sharing content on the app, growing one’s online presence and clout, and even volunteering one’s data to advertisers, all contribute to a user’s digital stash. A user’s earnings and transactions, like their ‘forever memories’, are stored permanently and transparently on the Algorand blockchain, and deposited into a digital wallet to be freely accessed at any time.
The value of this pool is backed by a sizable 30% to 40% portion of the foundation’s topline revenue stream and distributed by way of open-source algorithms.
If the invention of a novel form of currency sounds radical, it pays to remember that, cryptocurrencies, exactly as their so-called ‘real world’ fiat money counterparts, derive no more value than what we collectively ascribe to it. Value lies in the eye of the beholder, so to speak. The tokens you earn whilst ‘Sharing the Love’ online will be redeemable, in the not too distant future, for other real-world assets and currencies.
“The LoveChain ultimately means quantifiable rewards for users simply for participating”
Regarding the blockchain technology, Algorand was selected as the infrastructure for The LoveChain’s digital construction, which is among the most technically comprehensive locations for developers currently, capable of a thousand transactions per second.
We are set to undergo an utterly staggering overhaul of the work structures that we have allowed to become part and parcel of modern existence. In a world of these exciting and baffling new concepts which are core to the cryptocurrency movement, it is in essence, possible to ‘assign’ tokenised value, and therefore access the inherent or stored value in literally almost anything. The creation of content that is meaningful to others, and the intrinsic value it represents to both a platform and its users, are a primed space to begin with this.
Though time will tell how effectively The LoveChain foundation adheres to the future roadmap and succeeds in onboarding new users, we believe the platform is primed to make off with a substantial portion of traditional Social Media platform users very shortly. With its unique emphasis on ‘Sharing the Love’, The LoveChain aims to establish itself as a household name in the coming years.
Sounds too good to be true? Sign-up to our waiting list and be one of the first one’s ‘mining’ tokens for simply uploading content and sharing the love!
thelovechain.io
