Tip Coin announces token economic model: 40% airdrop, bots used for score manipulation will be penalized

Author: Tip Coin

Compiled by: Odaily Planet Daily

This afternoon, the Web3 social application Tip Coin announced its tokenomics model, with 35% of TIP tokens allocated for platform rewards, 5% distributed to the market, and 5% locked for the team; 15% of tokens will be airdropped in Epoch 1; 20% in Epoch 2; and 5% in Epoch 3. Yesterday, Tip Coin announced that wallet address submission is now live, and users need to submit their addresses within 24 hours to qualify for the first phase of airdrop.

It is understood that Tip Coin is a new social project based on X (formerly Twitter), aiming to allow users to earn points tokens through content creation via "tweet mining." Below is the original text compiled by Tip Coin:

12 days, 140,000+ followers, 100,000+ users.

Since the launch of Tip Coin on September 1 (Friday) at 8 AM, the experience has been very positive. We sincerely thank the new fans and creators in the community who have silently supported our social experiment, making Tip Coin a success.

When we leveraged the power of X/Twitter for our initial marketing promotion, our initial idea proved to be correct. Viral spread allowed our platform to gain over 100,000 Tip users and 140,000 X followers in just one week. Again, we couldn't have done this without the support of the community.

Along this journey, we have encountered creators from around the world. We have learned from hundreds of users that our platform has enabled their content (even from outside X) to achieve unprecedented engagement.

Now, we are embarking on the second part of our mission: an independent platform that utilizes our presence and social media to create a global community of friends and creators. Let’s dive into more details------tokenomics, technology, and vision.

Tokenomics: Fair Launch

Often, exciting products and launches are ruined by internal presales and unfair tokenomics. As a token for creators and the community, we feel a responsibility to reward our most loyal fans and creators through a fair distribution. With so many users, we have a unique opportunity to create an extremely diverse and fair distribution right from the launch.

Often, when some exciting products conduct (token) launches, they are ruined by internal presales and unfair token economics. As a token for creators and the community, we have a clear responsibility to reward our most loyal followers and creators through a fair distribution. With so many users, we can create a diverse and fair distribution plan at launch.

• Epoch 1: Liquidity 15%; Airdrop Claim 15%;

• Epoch 2: Airdrop Claim 20%;

• Epoch 3: Airdrop Claim 5%; Platform Rewards 35%; Marketing 5%; Team Lockup 5%.

When determining the tokenomics, we had several goals in mind. We need to balance the successful launch of the product and platform, reward early users, expand liquidity, and achieve price stability. To encourage the use of our soon-to-be-launched platform, we have reserved 35% of the tokens for users. We have increased a significant portion of liquidity supply to assist with the launch and achieve price stability, while also retaining Epoch rewards to gradually inject new tokens into the ecosystem. Finally, we will use the tokens on the new platform to increase trading volume and demand.

Technology: How It Works

We want to take a moment to discuss the work our chief developer and founder, Swapo, has done for our system.

Without going into too much detail, we do not view this project as a one-off but as a SocialFi platform! What’s the difference? Reliability and scalability. As mentioned, our marketing campaign spread rapidly. This brought some scaling issues in Epoch 1, as it exceeded our load expectations. We brought a new system for Epoch 2 that can handle 360,000 tweets per hour.

We have processed millions of tweets and updated our dashboard in real-time. This number is hard to underestimate. No one can replicate our system, and that fact alone proves the complexity required.

Regarding legitimate users: Many have noticed and pointed out that there are some users on the leaderboard who seem to be bot actions. Upon noticing these situations, we chose to internally flag these accounts rather than immediately restrict them. This also allows our system to gain a more comprehensive understanding of what bot activity looks like to prevent similar occurrences in the future. It is important to note that when they claim points, fake accounts will lose a significant amount of points (penalized).

Where do these points go? They will be sent to the accounts of you true supporters. By the end of the next Epoch, unclaimed points will be destroyed.

Future Vision

SocialFi is the new leader in cryptocurrency adoption. We believe in the vision and the theory behind it. Ultimately, the champions in this field (SocialFi) will be chosen based on their ability to venture into the unknown and create the future. With no clear path, creating a universally adopted product requires a rare combination of technical talent and foresight.

We created Tip because SocialFi must be able to attract attention to help it become an independent product. Our goal is to achieve viral spread using X, helping the next million users enter our platform. The first step is nearing completion, but the work is far from over. Soon, you will see our website take on a new form and offer new ways to create, engage, and earn.

We view SocialFi as a blank canvas and intend to continue writing the blueprint.

Conclusion

We have spent many sleepless nights providing what we believe to be an interesting, engaging, and unique way of social media interaction. The launch of the token is not the end but merely the beginning, enabling us to create value for creators and the community.

We hope you are as excited as we are for the future of social interaction.

Stay loyal, $tip family.