ReadON Letter #3: First AMA Recap and Community Updates
This week, we will focus on our community
First AMA Recap
On July 14, 2022, ReadON hosted our first AMA with Solaunch Official Global, which was the first community to support ReadON during Solana Riptide hackathon. Neo and Troy, co-founders of ReadOn, and Susan from Solaunch were the keynote speakers. During the AMA, we received 76 questions from the audience.
Here are some highlights from the questions.
Q：Can you give an introduction about yourself and how the idea of the ReadON came to your mind?
A：My partner Troy and I have worked for some of the largest content distribution companies in the world, including ByteDance and Pinterest. But we don’t think our previous work brought our users the most valuable content.
In the current Web2 environment, social media giants hold a lot of sway over the content that the average user sees.
Because user attention is the product that these companies are able to sell to advertisers, companies are incentivized to keep users on their platform. This is often done by showing users incendiary and/or disturbing content. The more time users spend on these platforms, the more they are constantly fed a diet of provocative content, which not only serves to distract them but also can affect their mental health. This phenomenon is so prevalent in the digital space that a colloquial term was coined to describe such behavior, known as “doom-scrolling”.
ReadON’s mission is to reshape digital reading behaviors in Web3 through the use of Game-Fi and Social-Fi mechanisms and systems. This is why we started doing this project.
Q：READ-TO-EARN is a very great concept, combing the healthy lifestyle with Web 3，can you tell us how we can earn token by reading in your app in detail？
A：Just read, comment, and share as usual.
But I want to talk more about where the incentives come from. Why do you get tokens for reading? What does this mean?
ReadON has designed a decentralized recommendation network. Different content is divided into corresponding communities by content topics. Users who have experience with this topic will become curators of the sub-communities. For example, “Ethereum” is a topic for which VitalikButerin is the best curator for the Ethereum community (a role I hope he will take one day). Curators can vote on new content.
So how can we be sure that curators are doing the right thing?
Content recommendation networks need tagged data to reflect how good the content is. One straightforward way to assess the quality of content is the length of time users read it. In return for labeling content good or bad, users receive $READ tokens.
This is where the $READ token rewards come from.
Q：How are you going to survive this bear market?
A：We believe that the bear market is the best time to BUIDL, and people will care more about the project’s actual value instead of purely speculating. And actually, the bear market is more of a concept for crypto native users. We find that more and more people are interested in crypto and web3, and it is an excellent chance for us to build something to guide them into the web3 world.
Funding-wise, we are pretty good right now. We have closed the seed round and should have enough money to support our team following our road map.
It can prevent us from taking a short-term approach to harm our long-term value.
To see more details, visit the ReadON DC AMA Recording Channel 「📃」ama-recaps.
Keep calm and ReadON：Up-coming debate campaigns!
The debate poll for this week received 120 votes. There were actually some pretty surprising ones. We summarized the suggestion made by our users. The debate will be launched soon!
This week, people on the daily-wisdom and share-good-reading channels shared 136 excellent articles with us. One of these was shared on ReadON Twitter and was extremely informative.
User Growth
It’s great to see how quickly the new members have settled in and joined in the sharing and discussion. Our new member weekly retention rate has reached 43%, continuing to increase by 100% compared to the previous week thanks to various activities.
About ReadON
ReadON is a decentralized content distribution platform which has created an incentive mechanism for consumers, curators and creators, along with a unique Topic-bound NFT design. ReadON seeks to help users efficiently and freely access quality content, break information silos, and explore a real new world.
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