12 days, 140k+ followers, 100k+ users.
We launched on Friday, September 1st, at 8am, and it’s been quite the experience so far. A heartfelt thank you to our new community of fans and creators who have rallied behind our social experiment to make Tip Coin a success.
Our thesis proved itself correct as we leveraged the power of X/Twitter for our initial marketing push. The virality quickly grew our platform to over 100,000 Tip users and 140,000 X followers in just one week. Again, we couldn’t have done it without the community.
Through our journey thus far, we’ve met creators from all over the globe. We have heard from hundreds of users that our platform has allowed them to receive engagement on their content (even from outside of X) that they have never seen before.
Now, we begin the second portion of our mission: a standalone platform that leverages our presence and social media to create a global community of friends and creators.
Let’s dive into the details — tokenomics, technicals, and vision.
Tokenomics — A Fair Launch
Too often, exciting products and launches are ruined by insider presales and unfair tokenomics. As a coin for the creators and community, we feel a distinct duty to reward our most loyal followers and creators with a fair launch. With so many users, we have the unique opportunity to create an extremely diverse and equitable distribution directly from launch.
Liquidity ……………. 15%
Airdrop Claim ………… 15%
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Epoch 2
Airdrop Claim ………… 20%
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Epoch 3
Airdrop Claim ………… 05%
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Platform Rewards ……… 35%
Marketing Tokens ……… 05%
Locked Team Tokens ……. 05%
When deciding on tokenomics, we had a few goals in mind. We needed to balance rewarding early users with a successful launch of our product and platform along with extended emissions. To encourage use of our soon to be released platform, we’ve reserved 35% of tokens for users. We’ve added a significant portion of supply to liquidity to assist with launch, as well as Epoch rewards which slowly inject new tokens into the ecosystem. The $tip token will be our utility token that powers the platform. For this reason, there has no been no sale or presale of tokens and tokens can be earned for free simply by using our products.
Technicals — How it Works
We wanted to take a minute to discuss the work our lead dev and founder Swapo put into our system.
Without going too far into the details, we didn’t build this project as a one-off — we built it as a SocialFi platform! What’s the distinction? Reliability and scalability. As discussed, our marketing push went viral quite quickly. With this came some scaling issues seen in Epoch 1 because it surpassed our load expectations (thanks). Epoch 2 brought with it our new system capable of handling 360,000 tweets an hour.
We’ve processed millions of incoming tweets and updated them in real time on our dashboard. This volume is hard to understate. The very fact that no one has been able to replicate our system is a testament to the complexity required.
A note on legitimate users: many people have noticed and pointed out that there are users with seemingly botted activity on the leaderboards — we understand. Rather than pulling every user immediately after noticing this activity, we opt instead to flag them internally. This allows our system to get a more comprehensive idea of what bot activity looks like to prevent it in the future. When it comes time for them to claim, botted accounts will lose significant percentages of their points.
Where do these points go? Back to you, the genuine supporters. Any points received that are not claimed by the end of the following epoch will be burned.
Vision — Next Steps
SocialFi is the new leader in crypto adoption. We believe in the vision and the thesis behind it. Ultimately, the champions of this arena (SocialFi) will be chosen based on their ability to charter into unknown waters and create the future. There is no defined path, and creating a universally adopted product requires a rare blend of technical talent and vision.
We created Tip because SocialFi must be able to capture attention to help it become a standalone product. Our goal was to achieve virality using X, to help onboard the next million users onto our platform. The first step is nearing completion, but the job is far from finished. Shortly you will begin to see our site take new form, with new ways to create and engage.
We view the SocialFi space as a blank sheet, and we intend to continue writing the blueprint.
Conclusions
Many sleepless nights have gone into providing what we believe to be a fun, engaging, and unique spin on how we interact on social media. The token launch is not the end, but simply the beginning and allows us to drive value to creators, and the community alike.
We hope that you are as excited as we are to welcome in the launch of the future of social interaction.
Stay loyal, $tip family.
(p.s. any direct link to this post with $tip or #tip will be automatically entered into a 10,000,000 point giveaway. Winners announced at the conclusion of Epoch 2)