Changes in SOL model
The process of creation is made of experiments. Some stick, some do not.
Automatic SOL distribution
Vote-based auto distribution of SOL will be discontinued in upcoming updates. We decided this since it doesn’t perform well enough and conflicts with updated App Store Review Guidelines.
Because of this decision there is no need to limit the number of votes you can cast so Action Points will be gone too.
Does this mean there won’t be a reward for content creation? No, it would take a different form. We are pleased with the results of our Travel contest and plan to have activities of that type on a regular basis. Also, we are considering rewarding users with SOL for platform-beneficial activities like categorization, reporting, etc.
New ways to use SOL
Removal of automatic distribution will slow down the inflation, and to enhance the effect, we are adding new ways to use SOL:
- boosts: you’ll be able to get additional exposure for your card
- extending cards’ spread time / revive the expired card
- direct ads with targeting without 3rd parties (later)
- premium account with the ability to customize profile/channel appearance, disable ads and more (TBD)
This functionality will be available on all platforms:
- iOS: as in-app purchases because of Apple rules
- Android: both for SOL and in-app purchases
- Web: both for SOL and credit card payments
In the case of using alternative payment methods instead of SOL, 1 SOL = $0.1* and given the current market it’s a good deal to get SOL from exchanges and use it for payments.
* based on the market situation for SOL, the rate can be reconsidered
Given the market situation and priorities, we will make some adjustments to the timeline:
- Distributed media storage implementation moves from Q4 to Q2. Sola will use IPFS with multi-layer caching. We will move to the new infrastructure gradually to make sure it won’t lead to degradation of speed and overall user experience.
- Q3 will be devoted to the user base growth which is a must for the working model ecosystem. A healthy economy can’t be speculation-based and can’t exist without users, content, and interactions.
- Sola is a product and a people, not just infrastructure, so it’s critical to find the product-market fit before setting things in stone. The fastest and the most flexible way is to iterate using the centralized approach. Given this, we plan to detail the decentralization part in Q4.
Stay tuned for updates and thank you for participating in Sola, People’s Media.