- Social network
BBS is the brainchild of Eyal Hertzog, Founder of Bancor and Inventor of the first AMM.
BBS is a first product built on the revolutionary new deWeb framework, allowing Social Platforms to be built in a decentralized manner.
DAO Approved Metrics
- Market cap.$4,906,612
- Fully Diluted Valuation$39,636,630
- Trading Volume 24 Hrs$95,481
- Current Price$0.039637
- Private Sale1.20x
- DAO Public Sale0.99x
- Auction on CopperNaNx
WHAT IS BBS?
The BBS Network is a public network of interconnected message boards (nostalgically called BBS, for Bulletin Board System), where all critical data is kept on-chain and every post is an NFT. The BBS token can be used to purchase ad space across the entire network as well as be staked to govern the network. Mining BBS tokens is done by generating verifiable engagement on user-created BBSes. In a sense, BBS Network can be likened to a "decentralized Reddit", spread across multiple domains to prevent censorship, while maintaining a network effect and openness for anyone to build upon.
End-users are rewarded based on their contribution, weighted with their traditional social media clout, in order to incentivise the migration of influencers. Ad revenues are distributed automatically to the post publishers, content curators and board moderators, rewarding contributing members financially and encouraging healthy community alignment. A pre-launch version of BBS is currently being piloted at bbs.market with more than 10,000 weekly visitors to multiple pilot BBSes.
BBS MARKETING STRATEGY
In order to bootstrap the BBS network, 50% of BBS tokens will be distributed each day over multiple years to BBSes, based on the user engagement they generate relative to the rest of the network. Engagement is defined in this context as "Real Users generating Real Content generating Real Impressions".
Members of the BBS system are encouraged, through their daily bonuses, to link their social accounts from YouTube, Facebook, Reddit, and other popular social networks. Daily bonus amounts are based on the member accounts' Social Capital (representing the members' followers, friends, karma, etc.) in order to attract high-profile members as well as to prevent fraud.
The engagement generated by a specific BBS is simply the total number of post views by registered users on that BBS. Only registered members are counted to incentivise BBSes that have real and engaged communities..
Daily Distribution Logic
The daily BBS token allocation for each specific BBS is calculated as follows:
Daily Token Distribution * (Engagement on the BBS / Total Engagement on the BBS network)
The BBS token distribution to BBSes is executed in the form of ad purchases by the BBS DAO. The DAO may also resale some of the purchased inventory to 3rd parties.
A BBS Blacklist is used to deter attempts to fraudulently gain BBS tokens from the engagement mining by faking user activity. To start mining tokens, a BBS has to maintain the number of daily impressions by registered users above a (X) threshold for (Y) days.
The X and Y values are set via the BBS governance voting process to make sure that eligible BBSes can be realistically reviewed by the community prior to receiving BBS tokens.
Through the governance system, BBSes can be added or removed from the blacklist. Blacklisted BBSes are ignored in the daily token allocation process.
This mechanic incentivizes existing BBS owners to review, detect and report any fraudulent activity sooner rather than later in order to prevent the fraudsters from taking any share from their daily token distribution.
WHAT MAKES BBS UNIQUE?
Modern blockchain technology makes it possible to store BBS Network data such as user accounts, posts, replies and reactions on a shared public ledger. This architecture opens up read and write access to all BBS Network data for all ecosystem participants - very much unlike today's dominating platform monopolies that ultimately controls who sees what, when and why.
Every post across the BBS network is an NFT that can be minted on different blockchains to be traded on NFT marketplaces as soon as the initial bidding process ends (24h after posting).
The BBS members bid using a BBS-specific community currency that is awarded to them for engaging and promoting the BBS. NFT holders are featured on the post and generate earnings from owning popular posts. They may also choose to list their NFTs for sale at any point.
The network is made up of potentially infinite BBSes (Bulletin Board Services or message boards) where every BBS in the network is a full Reddit-like service, with any number of channels, users, comments and community features. All BBSes are interlinked and interoperable because their data resides on a public blockchain with which any developer or user can interact. The ecosystem consists of the following parties:
- Developers can build new UX, product components, and features that any operator can choose to host.
- deWeb LTD is the first developer building the core software for the BBS Network.
- Operators host developers' BBS software to serve any number of BBSes.
- Currently, several operators offer BBS hosting globally.
- BBS Owners use the operators' services to launch their own BBS under a shared or their own domain. BBS Owners manage the community, customer support, branding, marketing and other customizations.
- Currently, several BBS owners, mostly influencers and content creators, have launched their own pilot BBS, utilizing the infrastructure provided by several BBS operators.
The BBS network uses a distributed identity and authentication model, similar in nature to the model used by the global email network, where the members' home domain is associated with their unique ID (i.e. [email protected]). However, BBS members have full control over their accounts through digital signatures and can change their home BBS at any time.