In recent years, social networks have experienced rapid growth. Social networks has become a popular term with a variety of features that enable users to connect, share, and receive information in a simple, quick, and efficient manner.

However, because the majority of today’s social networks are tightly controlled by developers, users are still restricted in a variety of ways.

Subsocial is a financial protocol built on top of Polkadot, an open platform that lets developers create social platforms to solve real-world problems.

Subsocial-based social networks will allow users to experience the full power of real social networks. Let’s take a closer look at the Subsocial project.

What is Subsocial ?

Subsocial is a open source platform for creating decentralized marketplaces and social networks. Censorship resistance and built-in monetization methods are two of its main features. The platform allows users to create their own decentralized sustainable social networks and have full control over them.

Subsocial is built on Polkadot’s Substrate framework and uses IPFS (InterPlanetary File System) for decentralized file storage. This enables personalized news feeds and announcements, a transparent reputation system, full text search, and rich content formats.

What problem does subsocial solve?

The project was developed to solve most of the problems that social networks face today such as:

Global censorship

Your content may be limited on their platform.

Unfair monetization

Centralized platforms extract too much value from content creators. Most platforms have limited payment options.

Monopoly on Network Effects

New social networks have to compete for traction with other major social networks because they do not share their large user bases and network effects.

Lack of customization

The platform UI has a limited number of options that can be changed.

Algorithm dictatorship

Inability to change content delivery algorithms.

Highlights of Subsocial

Serverless Public Timeline

The classic social timeline, but you can put the entire app on IPFS and remove the need for a centralized host, like AWS.

Moderation

Subsocial is censorship-resistant at the chain-level, but users can set rules for their own spaces.

Roles & Permissions

People who create their own platform will be given certain roles to manage their community with appropriate permissions, similar to the current Discord app

Spaces as DAOs

A space on Subsocial can be run as a DAO. Subsocial allows multiple owners to jointly control and monetize content.

User governance

Subsocial token holders are able to govern the Subsocial network by participating in on-chain governance.

Treasury

The Subsocial network owns an on-chain pot of funds for development and promotion of the ecosystem.

Subsocial monetization strategies

Subsocial platform can give you a way to monetize your content and community without middle man like:

Tipping

Easily send tips or setup a subscription.

Smart Contracts

Smart contract functionality will allow for Social Finance and advanced payment options.

NFTs

Turn your posts on Subsocial into NFTs, and rent or sell them to others.

Promoted Comments

Use more tokens for a comment to get guaranteed notifications to influencers.

Social Tokens

Users can deploy social tokens for their spaces and communities.

Sell advertisement slots (all controlled on-chain) in your space directly to advertisers

Token SUB

*Token Use Case

Participants within the Subsocial ecosystem will need to acquire Subsocial tokens in order to perform actions. SUB is the native token of Subsocial Network and has the following main functions:

Users will need tokens to pay for transactions or to stake and get free transactions.
Content creators to get their content prioritized (“advertising” in a sense)
People who want to participate in governance (this is to shape the development of the Subsocial ecosystem in a decentralized way).
Get access to special contents (special spaces)
Collators need tokens to run a validator node of the Subsocial parachain.
Users who wish to purchase a token of a particular space will require Subsocial main tokens.

*Key Metric SUB

Token Name: Subsocial
Ticker: SUB
Blockchain: Updating..
Token Standard: Updating…
Contract: Updating..
Token Type: Utility, governance.
Total Supply: 100,000,000 SUB. (Note: SUB will suffer from inflation at the rate of 7.5%/year and will be adjusted by the on-chain governance mechanism to ensure a fair payout ratio for many contributors to the project and maintain balance)