The Phases of Social Mining: An Evolving Product
DAO Maker’s Social Mining is the most advanced resource for transcending any tokenized ecosystem into a decentralized autonomous organization (DAO). Naturally, such a development takes time and DAO Maker has been developing Social Mining for nearly a year, and along the way, virtually every aspect of it has gone some degree of conceptual advancement or alteration.
While the bar for cryptocurrency projects has now been elevated from mere whitepaper delivery to minimum viable product (MVP) delivery, DAO Maker has set a new standard by displaying product demand prior to alpha release. The earlier stages of Social Mining have been used by some of the most outstanding projects of the cryptocurrency space, and each of these projects has been a paying client that has greatly progressed its community engagement, project awareness, and user-driven product enhancement due to the utility of Social Mining.
At its core, Social Mining is comprised of APIs that can deliver a news feed of community actions, construct a complex, multi-variable reputation system for users, and enable community-sourced work validation and distribution of compensation.
First Stage MVP: A Product for LTO Network
LTO Network was the first project to leverage the advantages of Social Mining.
Due to the early-stage execution of the software, LTO Network was able to primarily benefit from the APIs that aggregated user work. At this stage, the software lacked the capacity to deliver user reputations and the enablement of community-sourced work and reward validation but this did not hold back Social Mining from pushing users to carry LTO Network to incredible heights.
Even during the first stage MVP, Social Mining principal function, to allow the community to work for a project, thrived. LTO’s community delivered the native chain’s block explorer, spread project awareness, and even advanced the business development network. The success of even the earliest delivery of Social Mining was a testament to the advantages a tokenized project can yield through elevating its community into a DAO.
Second Stage MVP: A Product for Elrond Network
Elrond Network was the second project to benefit from Social Mining.
While Social Mining was not completely developed at this stage, it was now able to process multi variable-sourced user reputations. At this point, APIs were able to aggregate user data that enabled the project’s team to easily distribute reputation to the well-deserving contributions of the community. As Social Mining was primarily used pre-IEO and prior to mainnet launch, it was targeted for growing project exposure throughout the Crypto community while also solidifying the community’s dedication to the success of Elrond Network.
Social Mining Alpha: Launching with Ferrum Network
The complete version of Social Mining is now ready and it is accessible for earliest use at https://socialmining.daomaker.com/.
The first project to receive Social Mining in its complete state is Ferrum Network. The software now utilizes APIs to aggregate all user work into a convenient news feed for the entire community, enables the stamping of user reputations, and allows the community to validate each other’s work. Social Mining now allows a project’s team to stand back, be they willing, and watch the community transform into a DAO that expands the project’s value.
The final phase of Social Mining will soon be accessible to all past clients of DAO Maker. All future clients will be given the complete version as-well.
Social Mining has been developed in stages and incomplete versions were released to offer a testament of the demand of this product and the value it can add to any tokenized service. DAO Maker has offered Social Mining to a select number of industry-leading projects and will remain steadfast to the decision of exclusive access for only the most impressive projects. In its current stage, Social Mining has the capacity to amplify the impact a project’s community can have by creating an ecosystem where stake-holding community members can effectively organize their skillsets to carry the project forward; this enables any development to access human capital resources far beyond what is available within even the most talented founding teams.
The earlier phases of Social Mining, through incomplete, carried the dogma of encouraging token holders to move from passivity to active involvement in a project. The projects that used even the incomplete version of Social Mining were able to maneuver their community-sourced resources far better than other projects; the ability to leverage a decentralized network of skillsets placed them at an incredibly advantageous position in comparison to projects that relied only on a centralized source of skillsets: the project’s founding team. DAO Maker’s founding creed, that decentralized systems can far excel centralized ones, is the motivation behind the delivery of Social Mining; this assertion has already been proven by the incomplete versions of Social Mining. Now that Social Mining is fully developed, it can empower blockchain projects so that their decentralized ecosystems can reach their true potential.
Founder & CEO of DAO MAKER