Social media has become an integral part of our day to day lives. A lot of time and effort is spent by people to keep up with the latest social activities. However, average users don’t get rewarded for their contributions to the social space in many existing platforms.
⦁ A big chunk of our time is utilized for curating our social platform profiles and consuming latest social activities.
⦁ No reward is given to the users who are an integral component of the social space.
⦁ The potential for social media users to earn rewards has not been exploited.
⦁ The users who spend a large chunk of time curating their social media profiles do not earn any rewards even though the current platforms profit massively.
These are some of the reasons why we are introducing Trendit.
Trendit is a social media platform that will allow users to keep up with the latest social trends, events and challenges. Users of Trendit can express themselves by creating their own viral content. Trendit combines social media interactions with cryptocurrency by allowing users to earn cryptocurrency rewards for interacting with peers in the social space.
Trendit utilizes Trend Tokens and Ethereum for user transactions and reward distribution. Users on the platform will earn rewards based on the quality of their creative content supported by their fellow peers. The more pledges the content gathers, the more cryptocurrency rewards the creator earns.
Trendit will provide users with three primary interaction options. Users will be able to create new viral trends, raise awareness about certain events and challenge other users around the world to change their lifestyles. Trendit will reward users registered on the website with cryptocurrency for content creation. The distributed rewards will be dependent directly on the number of times other users pledge to the created content. The more viral the content becomes the more rewards the creator will earn. Users will also benefit from the promoted section where they can promote their ideas, events and undertaken challenges.
Trends are created by users to showcase their latest ideas, thoughts, passion or even make a fashion statement. Users will be able to pledge to the trends created. The comment section will be used by peers to follow up with the trend.
Challenges are created by users to challenge their peers to partake in their unique idea. The challenges can be private, public or based on geolocation. Users can participate in the challenge by pledging to it. The challenge category also includes competitive mode. In competitive mode, competitive challenges are created by the platform for users to participate in. Users are rewarded for showcasing their skills at different categories of challenges. Each participant pays a small fee to enter the competition. The prize pool accumulated from the entry fee is used to reward the top participants. The more pledges each of the competitors earn, the higher they rank the more they get rewarded.
Events are created by users to gain exposure for their event. The events can be set private or public as desired. The event can be catered to a select group or at any specific geolocation as required. Large scale event organizers can also use the platform to sell tickets to their event through the platform. The platform provides a secure means of transaction for users to participate in the event. Events can also be promoted by the creator by acquiring a space in the promoted section.
The promoted section caters to professional trenders, challengers and event organizers allowing them to promote their content for a small fee. The fee can be in Trend Tokens or Ethereum. Local businesses and individual entrepreneurs will find this section handy to reach out to potential customers at a much faster pace than any other stream available on the platform. Promoted content will be eligible to earn cryptocurrency rewards. The users will have the option to choose not to earn rewards and dedicate them for charity or any other non-profit cause.
One of the key components of Trendit is its Tokens. The Tokens are utilized for a variety of purposes which allows for an efficient transaction between the users. The total supply of Trend Tokens will be 200,000,000. These tokens will be mainly distributed into 3 sets: Platform Reserve Tokens (20%), Crowdfunding Tokens (60%) and User Acquisition Tokens (20%).
Crowdfunding tokens will be offered to the public for investment. A total of 120,000,000 Trend Tokens are allocated for crowdfunding. The Tokens will be sold to investors through our initial coin offering through the automated smart contract. Investors can purchase the tokens in exchange for Ethereum. Investors who buy a minimum threshold of Trend Tokens will be eligible for exclusive beta access. This will allow them to earn a maximum number of tokens in the early stages of Trendit.
Platform Reserve Tokens will be utilized whenever necessary in the development process of Trendit. They will be used to pay advisors and to incentivize future employees. A portion will also be reserved for the founders. A total of 40,000,000 Trend Tokens will be allocated for the reserve. This token holding will be locked for 1 year after finishing the crowdsale. The lock will ensure that the advisors, founders and employees contribute effectively in the development process before they can cash in on their incentives.
User Acquisition Tokens are specifically designed to support content creators at the early stages of Trendit’s development who help create quality content. The tokens will be distributed weekly for a period of 2 years. This will provide a very lucrative opportunity for early platform adopters and investors. 385,000 tokens will be available for distribution every week. In the early stages of the platform, the number of content creators will be limited. Beta users will have the opportunity to earn an increased amount of Trend Tokens for their creation. Once the platform starts accumulating profits, the content creators will also start earning a share from the profits based on their creativity.
One of the major advantages of using the Trendit platform is the share of profit that content creators can earn. 50% of the company profits will be distributed among all the creators depending on the amount of pledges accumulated. The profit will be calculated quarterly and will be used for weekly distribution in the following quarter. All of the platform profits will be automatically pushed into the DAO (Decentralized Autonomous Organization) which will then divide the profit equally between the platform and its users. The DAO will take care of the weekly payments assigned for users who meet the reward eligibility criteria.
For more information regarding the development or to participate in the ICO please visit the Trendit website at www.trenditstudios.com
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