SocialFi Alliance | Save with us using GoodGhosting!

SocialFi Alliance
4 min readAug 20, 2021

GoodGhosting joined SocialFi Alliance as one of the first batch of members. SocialFi Alliance is initiated by Mask Network, aiming to help users transform from Web 2.0 to Web 3.0 in an easy, effective way. In the future, a series of campaigns will be launched to discover the possibilities between decentralized social media and DeFi. Other members in the SocialFi Alliance include Polygon, PoolTogether, dHEDGE, Augur, GoodGhosting, SushiSwap, QuickSwap, DODO, Gitcoin, Transak, Project Galaxy, Impossible Finance, RealSatoshi, Bankless DAO, and Global Coin Research.

Note that we are changing the name from Social Defi Alliance to SocialFi Alliance to avoid conflict.

GoodGhosting is a savings challenge game where users can participate in fixed DAI investments. All assets put in the saving pool will be distributed to Aave and Yearn for profits. In the Mask & GoodGhosting special campaign, the hosting parties will provide a certain amount of DAI as an extra bonus in the prize pool. When the game is over, users will get back what they invested, but only those saved by the rules will be able to share the prize pool.

Please see below for details about the rules:

🙋 User eligibility:

The Entrance:

  • Users who interact with the GoodGhosting plugin for the first time need to sign a third-party protocol.

Deposit in Rounds:

  • Users who deposit 20 DAI for each round for three consecutive rounds (each round lasts 7 days), will be eligible to share the total amount of the prize pool; users need to deposit in the first round to be able to deposit in the 2 later rounds.

💰 The prize pool contains:

  • The total amount of prize pool = number of participants in the first round (max. 500 participants) × 7.5 DAI
  • Example: 500 users participated in the first round, makes the total amount of the prize pool 500 × 7.5 DAI = 3750 DAI; In the third round, only 100 users finish the game, each of them will be distributed 3750 $DAI ÷ 100= 37.5 $DAI
  • Early withdraw: a 1% early withdraw fee will be applied if the user wants to withdraw the money they deposited early before all three rounds finish, and the user will not be able to gain the interests already generated, and will not be able to share the prize pool.

📅 Campaign schedule:

💵 Bonus!

  • Mask Network will prepare an extra 300 DAI reward for those who Quote Tweet the campaign announcement tweet (see below for more info).
  • Quote tweet the announcement tweet, and mention three friends, Mask Network will randomly select 30 users to hand out 10 DAI each.

❓ Q&A

Q: When will the prizes be distributed?

A: The prizes in the prize pool will be handed out on the 29th day after the pool opens (September 17th).

Q: How will the prizes be distributed?

A: After the campaign ends, users could claim their reward by clicking the “withdraw” on the GoodGhosting plugin

Q: When can I get back the money I deposited?

A: Users need to claim the money they deposited on the 29th day after the pool opens (September 17th).

📖 Tutorial

Please click to see how to cultivate a weekly saving habit via GoodGhosting on Twitter.

🎁 NFT reward

If you are eligible for the prize in this campaign, you will be eligible for a Goodghosting x Mask NFT badge.

By participating in other SocialFi campaigns and being eligible for corresponding prizes, users will be eligible for NFT badges like Sushi x Mask or Pooltogether x Mask badges, which we call 2-way NFTs. Users can claim their 2-way NFT prizes in the “Claim” section using the Mask extension after September 14th.

The design of 2-way NFT for each campaign will contain elements of Mask Network and the project holding this campaign.

You can redeem some special NFTs if you burn a certain amount of 2-way NFTs:

  • 2 × 2-way NFT = Silver Badge
  • 3 × 2-way NFT = Gold Badge
  • 4 × 2-way NFT = Diamond Badge

The generation of the Silver/Gold/Diamond badge(s) requires users to visit https://galaxy.eco/. We appreciate Project Galaxy for being our NFT partner.

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