It is estimated that as of 2021, there are over 300 million crypto users worldwide, about 3.9% global crypto ownership rate. It is obvious that crypto adoption is still a niche market. As a web 3.0 application, Discovol aspired to bring tangible use cases to the real-world users.
In a narrow sense, Discovol is a decentralized platform to discover and distribute high quality content. Professionals can use the facilities to curate useful information and high-quality content for whoever in need and get contribution monetized in return.
In a broad sense, Discovol is a social and economic ecosystem where the contributors, users and other participants live. Curators are the protagonists who provide content service to audiences. In that sense, curators are the core value contributors to this ecosystem.
Discovol employs a dual-token system. One is $RIF for signaling reputation; the other is $DISC for liquidity. Both $RIF and $DISC are the tickets for governance and represent the holders’ voting power.
$RIF is a non-transferable token, that means, you cannot get $RIF by trading. $RIF represents the reputation in Discovol so that you need to earn it by “hard-working”. Your $RIF tokens accumulate as you curate more and more high-quality contents.
Although $RIF is not tradable, it will bring you tradable $DISC according to pre-determined incentive program.
$DISC is a transferable token for liquidity, that means, you can get it by trading. There are some other ways you can get it: discover, curate high-quality content; organize community; provide services; actively join early-stage marketing; keep the network operation well.
High-quality content curation is regarded as core contribution in Discovol. We cannot ignore the reality that opportunists always prepare for grasping a small slice of incentive cake with no effort and bots can generate huge spam information in a minute. So high-quality content curation needs to cost $DISC tokens.
$DISC will also be used for paying bounty, setting Ads campaigns, or consuming services. Block reward and transaction fee are paid with $DISC.
Incentive design is another pivot of the crypto-economics. Designing human behavior in a decentralized network is a tricky work. There are various actors with their different interests and purposes. Whereas the goal of incentive is to coordinate these players to benefit from each other’s expertise. Discovol needs different roles to play its part to perfection. Worthy to note, it is highly possible that one participant plays several roles or all roles in a decentralized system.
The diagram below illustrates how the ecosystem runs.
Audiences could use Dio (web 2.0 account equivalent of $DISC) to acquire content service provided by curators, or view Ads displayed by curators.
Curator F links with precedent curators and the discoverer to form a citation chain. In the same way, curator F can further be cited by other followers.
If I am an audience, I can get informed on the content’s quality from, 1) F’s review and score on the content, 2) F’s reputation $RIF and curation history, 3) the citation chain formed by F and F’s precedents.
Discovering a content is the process that you register the URL of content with some $DISC cost. A curator needs to pay $DISC cost for the citation of a discovered content. The cost leads to a fact that a curator had to make a trade-off carefully whether the content is good enough to attract more followers. This mechanism can effectively pre-empt low-quality content and spam information.
The testnet will go public in Jan 2022 with a pre-launch marketing campaign.
We plan to register on Octopus Network at the beginning of Feb 2022. After going through the pipeline, the mainnet is expected to launch at the end of Mar 2022.
Although we fully realized that anything could happen in a Wild West World, Discovol is ready to make crypto-world and real-world one world.