The social media platforms that we use now have some issues. Problems with keeping user data private, moderating fake news and inappropriate content without turning into censorship. The inappropriate content presents a risk for advertisers and content creators who see their brand being compromised with censorship discouraging creative work. The manual moderation is not giving better results, the lack of transparency is also obvious as social media platforms do not reveal how they use personal data, distribute content or share revenue.
The majority of social media platforms don’t share revenues with content creators and the few that do so have monetization targets that are hard to attain. The average user is not compensated for being the target of lots of advertisements and these are not customized for individual preferences.
Additionally, there has been a growing agenda from centralized for-profit platforms that seeks to secretly demonetize content creators by modify its algorithm. These modifications can change the value per click of an ad, reduce traffic to content creators with alternative viewpoints and even flat out cancel accounts. This hurts content creators by not giving them the full value for their work to the point of them not being able to afford the lifestyle they were accustomed to.
We introduced the VLOKR platform with the purpose of addressing the above issues. This is accomplished through the following:
- Promoting trust with a decentralized infrastructure that is transparent, open source and that does not give away personal information for advertising.
- A fairer and more accurate moderation that is done by the community through voting and tags without political and company intervention and censorship.
- A token model that rewards all participants such as creators, influencers and viewers for contributions to the platform.
- A decentralized community based decision making process to ensure fairness in the revenue algorithms
The platform has two tokens: VTV and VP. VTV is a utility token that can influence how content is ranked on the platform. The content creators are rewarded with this token that will incentive them to do a good job and adhere to community standards.
The VP token represents voting power that is accumulated by VTV holders. The holder will receive 1 VP hourly per VTV in account. A user needs VP to post, vote, tag and comment. The user will then be rewarded by the blockchain algorithm in VTV for posting quality content or for voting trending subjects.
There is a third token that is not native to the Vlocity blockchain, but instead is on the Binance Smart Chain. It is a liquidity token that is used to swap into the token of choice for the VTV holder. We are dubbing this token VLOKR.
In our roadmap you will see that once the official app is deployed after POC debugging, it will come with a cross-chain swap function that will seamlessly burn native Vlocity tokens when liquidity is needed and vice versa when VLOKR are swapped onto the Vlocity for platform functions.
To ensure a balanced relationship between VTV and VLOKR the initial token distribution will be equal on both platforms. There will be a periodic review by the Vlocity non-profit foundation and a consensus by the node operators to balance out the floats through burning, never minting above the total distribution.