Yup: Turn your social media into passive crypto income😲

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Avatar for Themeta3.0
2 years ago

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Am talking every single engagement and activity into hot crypto, bro😳.

(Web3.0)

And heres how were gonna do it.

Wait! Hold on, hold on, hold on! Before everyone starts getting worked up and highly anticipating to make millions of these protocol, just keep reading before we get carried away and rush off to our browsers or wallets, let’s just try and read the whole article to find out what ‘yup' is really is all about and how we can use it to make good sweet crpyto on our social media platforms.

YUP PROTOCOL: WHAT IS YUP

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Well to break it down in simpler terms. Yup protocol is a web3 consensus that rewards you(the user) for their opinions participations and building influence on the social platforms.

Its a social consensus protocol that literally measures, captures and facilitates capital in an ‘anonymous' opinions based economy.

LITTLE HISTORY

The Yup protocol was founded in 2020 at the heat of the pandemic by two Colombia university graduates ‘NIR Kabessa' and ‘Vernon Johnson’ They founded ‘Yup' when they saw an opportunity to use blockchain to fix long standing issues in social media consensus, such as news feed moderation, curators and creators compensation and limiting controversial content to users. It also acts as a social consensus layer 1 for the internet, meaning: all platforms can be widely accessible through ‘Yup' and it is the foundation for all social platforms for curators and creators all over the internet.

(Just for better understanding, with the use of its browsers extension feature, Yup links to all social platforms and tracks your engagements, there by rewarding you with ‘Yup token’.

Now, “what is yup token, you might ask?”

YUP TOKEN

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To make it less complicated, an overview statement of ‘Yup token' should sound like these;

“Yup token is the native token on the Yup protocol”. It is designed to increase the impact and engage with the protocol. Content curators and creators receive the token as reward (of course) for doing simple things like posting, rating, and content creating.

The tokens are minted under predetermined schedules, therefore making it somewhat inflationary, but some token are burned(locked up permanently) at particular intervals to control the supply and demand rate, therefore keeping the price at steady growth.

But still, I just have to say that there is one thing that you need to know and it is something I don’t personally like, its the genesis token allocation- predetermined distribution that is scheduled for over a one year period.

The allocation is as followed.

50% to yup creators= 4,657,540

23% to liquidity= 2,142,469

22% to team= 2,049,317

5% to treasury= 465754

And as for vesting schedule, it can be found on the website ‘Yup.io’. As it is to large to summarize effectively and efficiently.

INFLUENCE/GOVERNANCE

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The yup protocol measures the impact of a users on the platform by how long and how active are the users and their tokens, thereby creating a social semi anonymous consensus(like a DOA) where the most participating users receive the highest influencing power, rather than the biggest token holder.

What this means is that active users are recognised and much more influential and have greater impact in determining the rewards a curator and creator receive for engagement and posting

In decision making the age or how long your tokens were initially rewarded to you is much more influential than the amount of tokens you hold.

ACTIVITY

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Well! Its more complicated than the way am gonna put it.

It measures by decoupling (separating) earned and purchased token (as stated previously) thereby only using earned tokens(creation and curators reward) to value and anticipate the reflected network value of contributions of a specific account — in lay man terms “they value your participation not your tokens account balance” (these is what i personally love)

Just to note, account balance of tokens does not affect activity or influence of a user at that point in time.

So its possible to send and receive tokens, without reducing or negatively impacting the level of the influence a users has had in the past when the tokens were still available.

Well! That’s really all i have say about ‘Yup protocol’ to be honest I would still a device advice you to read the white paper(but be warned the vesting schedule has way lots of maths), because the protocol is really complicated to be honest

So I really hope I did a good job on summarizing it for you guys to better understand, as I found the website doc’s to complicated. I would like to note that these is not a sponsored or bounty article it was written out of choice and the hidden potentials i assume it has on #web3. So. Bye!

And pls follow to be up to date on latest and high potential projects and information related NFTs, web3 & metaverse with simple understandable summaries & documentaries to understand anything.

This was written by Themeta3.0 on

Steemit, read.cash, medium.

#Yup #Protocol #Web #Foundation #Team #wealth #socialmedia #investing #Summit #Webdsign #Ledger #sidehustle #makemoneyonling #nfts #metaverse #crypto #blockchain #bitcoin #steemit #money

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2 years ago

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