TruYou is a Web3 integrated dating and geosocial app that utilizes cryptocurrency to incentivize and gamify online dating.
The TruYou app provides tokenized matching, tier based platform discounts, and catfish-proof verification among other features developed to revolutionize the online dating industry.
Lack of innovation has persisted within the online dating industry for decades. Ongoing issues including catfishing, inefficient platform interaction, ghosting, and lack of incentivization remain unaddressed with no discernable effort toward a solution.
Meaningful connection is no longer emphasized, and instead has given way to short-term flings. Individual character and moral distinctions have degraded into split-second swipes. This has contributed to a culture of isolation, recognized by a doubling in reports of loneliness over the last 5 years in young adults. In an era where the public is seeking more than ever for a connection through digital platforms, these problems must be challenged.
TruYou intends to be the ultimate portal for love in the metaverse by directly confronting the issues poised by traditional dating and social apps. The integration of the Trust token allows TruYou to provide incentivized matching, initiate tier based staking benefits, and introduce decentralized identity-sharing to create a cat-fish proof, incentive driven, and future focused platform.
The Trust token acts to convey monetary utility into social interactions that would otherwise solely provide value to the platform. Fees through utility of the Trust token are collected within the TruYou core smart contract to be sold, burned, staked or distributed on a quarterly basis. These fees will also provide secondary platform incentivization in the v.2 iteration of the TruYou MVP.
The Trust token additionally carries the value of instigating deliberation. Current applications favor Mindlessly-swiping, which fails to address the core concern underlying the loss of social-connection currently seen in today’s online dating market. Through the tokens implied market value, every swipe performed on the TruYou platform also carries a value. This value, ultimately, is taken into consideration for every potential match, contributing to a lower likelihood of thoughtless-swiping, ghosting and unmatching.
TruYou provides unique connection-directed functionality to encourage interaction amongst users regardless of relationship stage and user preference. From first contact, to friend finding, to adaptive love language support; TruYou utilizes a holistic approach and encourages relational development across the spectrum.
Initial functionality within the V1 MVP of the TruYou app includes:
- Match Pledging: the process of locking away a quantity of Trust tokens in return for the app to provide an equivalent number of potential matches. Tokens are then spent from this pool on behalf of the user on each completed swipe. Matches are ordered by match probability, which develops based on individual user interactions within the TruYou app.
- The Premium panel allows a user the ability to stake Trust in return for several platform incentives. Benefits range from earning daily interest on staked Trust, to a discount applied to the Match Pledging functionality based on the quantity of Trust staked.
- The Conversation is an open-access global messenger that allows any user the ability to interact with all other users on the TruYou platform. Within The Conversation, users can customize their presentation in chat through Roles and Perks.
- TruYou users also possess the ability to send gifts to other users within the app. No longer limited by anonymity, a user can send an ASA or NFT to any other user on the platform. Receivers still have the final decision between accepting the gift and adding it to their Wallet, or declining the gift and sending it back to its sender.
- Tier 1 — Bronze: 5000 Trust
The bronze tier reduces the match pledging fee by 10%
- Tier 2 — Silver: 12500 Trust
The silver tier reduces the match pledging fee by 25%
- Tier 3 — Gold: 25000 Trust
The gold tier reduces the match pledging fee by 50%
- Tier 4 — VIP: 37500 Trust
The VIP tier reduces the match pledging fee by 75%
- Tier 5 — Ultimate VIP: 50000 Trust
The ultimate VIP tier reduces the match pledging fee by 100%
TruYou approaches revenue generation in an equally innovative way. TruYou, unlike traditional apps, is funded through aggregated platform fees, sponsorships, partnerships and event revenue. Platform fees are collected for in-app gifting, vanity features within “The Conversation” or per swipe, depending on swipe intention and stake tier.
TruYou will also partner with Metaverse and Web3 directed social applications to expand the cohesive network growth of crypto native and naïve users. In subsequent versions, TruYou will provide advertising and streamlined user onboarding in cooperation with blockchain sponsored events as well as host in-person events to expand the TruYou user base.
The landscape surrounding the online dating industry has evolved over the course of the last 5 years. Meeting online has become commonplace, in 2019, online dating topped all other forms of meeting a spouse. Today total users top 323M globally.
A shift in outreach toward directing user growth best fit for a socially isolated environment has been developed. This motivates the expansion of industry resource allocations toward providing the optimal avenue for social interaction. Given environmental circumstances, this took the form of virtual dating, gamification of discussions, verified vaccination status, and virtual badges.
Continued maturity within the industry, in an effort to attain the greatest network growth, will presumably expand the integration of new and novel technologies. Given the rapidly expanding avenues for growth presented through digitally verifiable asset exchange, and the ease to which they can be integrated into current market structures, speculation on their future utilization within the industry is trivial. Adoption will be a race centered around the innovative utility introduced through each implementation and the benefit presented through its inclusion.
Despite carrying the largest market share of the online dating industry within the U.S, the current market leader has only addressed 14% of the available 18–29 market — their largest demographic. Even when combined, the top 10 largest online dating applications for the same demographic have a total market reach of 39%. Utility driven analytics have continued to indicate a flourishing industry, grievously hampered by stagnant ideologies where user value continues to solely benefit platform providers. Through mindful and constructive Web3 directed integrations, TruYou aims to shepherd market adoption of the remaining 47%.
To address a fraction of the available market, and achieve 1% of user utilization for the current leading application, would see TruYou process 16M swipes daily. Through tokenized swiping, this would collect over 4B tokens annually. On top of swipe driven demand, stake based swipe cost reduction maintains the floor value of the Trust token based on platform popularity. Adding to this is the value collected through secondary platform incentives act as a buffer against low platform match activity. Given the Trust token’s limited supply, continuous redistribution will be essential to the symbiotic relationship between user and platform value generation.
The Trust token is set to be distributed based on 4 vesting schedules, that vary subject to individual sale participation:
- Private sale and market acquired token distribution begins 6 months after initial fundraise completion, starting at 6%, and will continue at a rate of 6% monthly until fully distributed. Private sale tokens were acquired at an equivalent USD rate of $0.00197/Trust amounting to a 15.2x on expected listing price.
- Presale distribution begins 5 months after the completion of the fundraise at 10%, and progressively increases monthly by 8% until fully distributed. Presale tokens were acquired at an equivalent USD rate of $0.00459/Trust amounting to a 6.5x on expected listing price.
- Public sale distribution will begin immediately following the completion of the fundraise at 8% distribution and will progressively increase monthly by 8% until fully distributed. Public sale tokens are acquired at an equivalent USD rate of $0.015/Trust amounting to a 2x on expected listing price.
- Team tokens are set to start distribution at month 20, beginning with 20%, and will progressively increase by 10% monthly until fully distributed.
After the completion of our initial 35,000 Algo raise in February of 2022, 10,000 of which was locked away for initial liquidity; the TruLabs team sprang into action to begin development on the TruYou MVP. In a matter of months, the application has grown from an idea into a prototype. A Flutter UI, alongside 3 novel smart contracts and a backend to handle it all were designed, developed and tested.
TruLabs inc. was founded in January, and our team has already expanded into 4 core and 5 secondary crew members. The TruYou crew has meticulously published 13 consecutive Bi-Weekly updates, and has hosted dozens of giveaways through working with over 20 incredible projects, amounting to nearly 200 ASA’s and NFT’s. TruYou CEO Zachary Martinez took part in several open AMA’s, including a feature in the July Spindle ASA-Zine, A special guest spot in a Vendible twitter space, and 2 feature fireside episodes on The Crypto Hour YouTube talk show.
At last we are at the doorstep to the release of the TruYou MVP. We have outlined, and expect to implement, several unique feature integrations alongside adaptations to the functionality of the current application. Though we foresee that over the course of its ongoing development, defining features will adapt to fit community needs. Looking forward, we are thrilled to expand the benefits provided through Web3 into the world of online dating, and aspire to carry the industry into a new age of earnable, ownable and governable user value.
The online dating industry’s reach has created an unprecedented form of social connection; however, the further success of the online dating world is contingent on continued evolution to address the needs and demands of users.
TruYou intends to bring Web3 into the world of online dating, in an effort to address the challenges of traditional infrastructure, revolutionize finding love, and introduce the transfer of user-generated value back to the user.
