Hello everyone! Our team is pleased to announce that the first update of the new integration — The Social Exchange is ready! We look forward to receiving feedback from our community. Also remind that we have created a new supporting token, SEPFR, which is available for purchase on our platform (you can find it on your account by clicking on the “Wallet”) for the price of 1 SEPFR = 0.00008 ETH. The new token, SEPFR, will give its holders the privileged right to additional profits from the social exchange. A total of 2 million SEPFR tokens were released. For example, if you hold 1 million SEPFR tokens, you will receive 50% of the profits from the social exchange volume.
What is it?
The Social Exchange is designed to bring together advertisers and social media creators, circumventing the current restrictions and financial limitations put in place by social media platforms. We aim to help connect companies to their audiences through opinion leaders and social media creators, all while eliminating fraud using our existing escrow network.
Financial limitations within this segment can be easily seen in platforms such as YouTube of which take a 45% cut of all revenue. We feel this should go to the content creator! Smaller channels and social media creators also often find it difficult to source paid sponsors due to being lost within the crowd. These channels may not be able to demand the highest of advertising rates, but many have a solid foundation of followers to create new opportunities for advertisers.
The market for this integration will be content creators that are currently engaged with YOUTUBE, TELEGRAM, INSTAGRAM, and other most famous social media networks, as well as advertisers looking to increase their brand awareness.
Fee breakdown reminder
There are no changes to how the existing PayFair platform operates or pays dividend. The fee breakdown below is applicable to the new integration only and existing PFR Trust-Node holders are entitled to a 1% fee.
This integration brings new revenue for PayFair and its node holders. A charge of 3.5% will be made on all deals made between content creators and advertisers. Depending on how the deal came about and completed, the funds will be split as follows:
For example: A deal goes through the platform for 100 ETH without escrow or referral. If you hold 50% of the SEPFR in circulation, your payout would be 1.25 ETH. This would be ON TOP of any Trust-Node payouts.
As highlighted above, a percentage of the deal goes to a category called Privileged Members, these members have a privileged right to receive income from the activities of the new integration due to their SEPFR holdings in the form of an additional ~2.5–1.5% of the turnover.
Thank you all for your support and participation and stay tuned for future updates!
The PayFair Team
