Snax, a blockchain aimed to simplify the way people make crypto transactions and make it more profitable, fast and fun, went public and launched mainnet on April 10.
Everyday people generate tons of value on social media, but only social media benefits from this value. Snax believes that this is wrong. Therefore we have created a system that automatically issues SNAX tokens as a reward for the content user creates, giving him/her a return of their efforts.
It is a complex algorithm that works similarly to how Google indexes pages to make sure you get to see them in search results. It takes into account native metrics of a particular social media: how popular is a person who commented your tweet, how many likes or reposts you have got over a period of time, how many people are there on the platform, and many others — and as a result of calculations we receive a metric which we call Attention Rate. The more Attention Rate you got over a scoring round the more tokens you are to receive.
The best part is that to get the reward you don’t need to leave the platform and register your posts on Snax — Snax finds all content on its own. Only one thing that is required from you is to verify your ownership of a particular social account through an authentication post.
So far, we have successfully launched support for Twitter users and will soon expand our reward program to Steemit, Reddit and Youtube.
Overlay solution means that Snax provides you with a way to send tokens to anyone just by their account name on a social platform in one click. Transactions are instant and free, and a recipient doesn’t even need to be registered on Snax network, once they will log in for the first time they will be able to claim all of the tokens sent to them.
This is a transformative solution that can be particularly useful and convenient for those who wants to endorse their favourite blogger or influencer. Especially since an enormous amount of valuable resources are shared on text platforms which do not have a donation tool implemented at all.
Snax is looking to share its vision with the community and welcome developers to create decentralized applications (dApps) inside its chain. While the community is only just getting started, we anticipate significant growth. The market is yet free from competitors, and every project will be a massive step towards creating a memorable and seamless experience for our users.
Here are just a few dApp ideas that make help Snax bring crypto to everyday lives.
Virtual gifts markets. Last years proved that one of the easiest ways to engage people in using crypto and encourage their social activity is funny collectables (using non-fungible tokens, NFT) and virtual stickers. With at least half of a hundred millions virtual stickers sent per month, this idea may help to accelerate Snax digital growth.
SMM platforms. Advertisers can pay to social influencers for marketing campaigns or enhance their real-world campaigns by integrating blockchain.
Social games. Fun and a collaborative way of people interaction, supporting crypto token rewards. DApps developers receive direct access to Social Transactions mechanism, so they do not have to think about connecting social accounts with blockchain.
We invite anyone to join us to explore and develop the potential of crypto.
Snax is made by a small team dedicated to helping people adopt crypto and enjoy its benefits. So far, we have gone through a half year of intense development and made a product competitive to the projects with multi-billion dollar budgets without raising an ICO.
Other Blockchain platforms are trying to win people over, Snax rewards them where they are. Join Snax community Discord channel , get more details through our Medium publications, and don’t forget to join snax.one and receive welcome airdrop!