The History of Social Mining by DAO Maker
One part of the financial market that is experiencing unprecedented growth and development is the area of personal finance. This area owes its growth to the widespread implementation and use of digital applications that facilitate the use of various fintech services that would otherwise have been difficult to access with traditional banking and finance systems.
There are different frontiers that make up the personal finance market, and one of them is ‘Venture Capital’. Venture Capital has begun to gain traction, however it is still a centralized system with middlemen that function as brokers. Stock investments come with lots of risks, and thus it is important to have these risks mitigated to the barest minimum, which can be achieved with a new approach that takes safety, security, effectiveness, and efficiency into consideration.
In 2018, DAO Maker introduced a product to the crypto community, and that product was its software called ‘Social Mining’. Since inception, Social Mining has blazed the trail for the successful implementation and facilitation of several token launches. Interestingly, the product has gone through different improvements to provide better services for users and investors. Basically, what Social Mining does is provide token incentives to members of tokenized project’s community. So when the community members make valuable contributions to the project’s ecosystem, they get incentives and rewards.
LTO Network: The Premier Deployment
The first project to get deployed with Social Mining was the LTO Network, and that was in the 4th quarter of 2018. The Social Mining software played a big role in motivating the community to get actively involved in the project’s growth and development, and thus was able to surmount the challenges of the bear market between 2018 and 2019. The creation and expansion of the community paved the way for more improvements within the LTO Network, and that contributed to the project getting listed on the Binance platform.
However, the success of LTO Network’s Social Mining deployment did not take away the fact that it was still a centralized system, and DAO Maker intended to provide decentralized solutions, considering that it was created to provide self-organizing communities that would pave the way for project expansions.
2019 saw more community deployments through DAO Maker’s Social Mining software, and these other deployments came with technological improvements, including tending more towards a decentralized system than it was in the case of the LTO Network community project.
NEM is another project that has successfully scaled above what it was and what was expected, and that is due the fact that the Social Mining framework was implemented. With the aid of Social Mining, NEM Hub was able to launch a framework that catered to different sectors of the project, including integrations, business development, partnerships, new member education, etc. The project is active, and has recorded unprecedented successes since it began, with more people joining the community and actively contributing their quota to the expansion of the ecosystem.
There are several other active projects that have benefitted immensely from the Social Mining software, including AVAX that has continued to expand tremendously. Elrond Network, 2key Network, Harmony, Injective Protocol, Ferrum Network, etc. are some projects that are actively using the Social Mining system.
Another trend that we have seen with projects deployed with the Social Mining software is the increased rate of successes that each of them enjoy. One of the major benefits of using DAO Maker’s Social Mining framework is the unhindered access it has to the crypto community, especially to the top influencers within and outside the crypto community. By tokenizing the rewards and incentives for contributing members, more members get attracted, and with lots of activities going on, it becomes easier to attract investors that will contribute immensely to the project’s expansion.
Social Mining provides amazing opportunities to projects that are looking to expand and scale, and thus provide better opportunities for projects looking for financial independence needed to perform well in the venture capital market.
dTeams, Express, and Atlas
For projects that may be looking to get access to equity funds, the dTeam vector is a model that is both subscription-based and permissioned. This DAO Maker product makes use of Social Mining’s codebase to enable the facilitation of projects that are funded by equity. With dTEams, projects can create and oversee the management of teams in a decentralized manner, through the provision of a user-friendly and seamless framework to facilitate the payments to community members that function via operations that are geo-distributed.
There are two other important product options that will aid the process of community creation and facilitation, and they are:
This will be accessible to tokens with small market capitalization, and its launch will be permissionless. This will be beneficial to tokenized startups looking to expand into individual product tiers.
While there is a product for a permissionless launch (Express), Atlas is a subscription-based framework that can be implemented for permissioned tokens.
Social Mining is blazing the trail for different startups and projects to gain traction and scale, and the company is taking equity startup marketing to a different level with its approach. It is their intention to adopt the usual SaaS system of expansion by using sales influencers with proven successes in SaaS marketing to equity companies in cities that have so many startups. For such markets, the dTeam product will play an important role in capitalizing on the projects’ small capitalization tokens which are tradable for value, while also expanding the collection of investors within the DAO Maker community.
In the case of startups that are equity funded, they will be performing their operations based on their consumer base, and seeing as it may not be a high product fit with DAO Maker’s Social Mining services; value trades may not be possible. This is the reason for implementing offerings that are subscription based.
Since inception, DAO Maker has continued to enjoy unprecedented growth, and its Social Mining product has proven to be a revolutionary innovation to help startups get access to decentralized venture capital.
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