How are you different from other social token platforms?
There are a couple things that make P00LS the best Web3 destination for creators and communities:
First, from a product perspective, your tokens will be minted as ERC-20s on Ethereum, the largest infrastructure for decentralized finance, NFTs and cryptocurrencies today. Your coins will be compatible with any platform that supports Ethereum (Binance, Paypal, Coinbase etc) as well as other blockchains through bridging, and therefore will have way more use cases than tokens issued on other social token platforms.
Second, we are a community-first social token platform. We want to create a social token that rewards the most engaged members of your community so that your social token is truly the currency of your world. This is why on P00LS, community members can earn tokens for free by completing actions that build longevity and strength for your own creator economy.
What makes social tokens different from NFTs?
NFTs may be part of your Web3 strategy, but your currency is something different altogether.
Social tokens are “fungible” rather than “non-fungible”, meaning that they can truly serve as the currency for your community. Social tokens are currencies that integrate into the entire decentralized finance ecosystem, which today represents more than $100 billion. Your currency will be a liquid asset that can be directly exchanged for other types of currencies. Your community will be able to denominate things in your currency once you’ve made it part of your world in a way that they would not be able do with NFTs.
We recognize NFTs are a big part of your strategy in Web3 and social tokens go hand-in-hand with NFTs. In fact, we’ll help you build use-cases for your tokens around your NFT collections!
How involved with crypto and web3 do I need to be to have a social token?
You don’t need to be versed in crypto to make your token! P00LS is bridging the gap from Web 2 to Web 3 and crypto is helping us out.
Does the token need to be named after me?
It does not! We want your token to be about your ecosystem, your creator universe. If the best way to communicate that is through your name, then great! If you have a more creative name in mind, even better!
Will you help me promote my token?
While we will be able to issue your token and distribute it through the P00LS platform, we cannot handle all promotion around your token for you. It’s up to you to make sure your community is tokenized so they can be more involved in your world and you can mutually benefit!
How do I bring value to my tokenized community?
The value your token brings to you and your community will all stem from the utility you are able to provide to it. In order to support the value of your token, you will want to integrate your token into your ecosystem and have it power everything you do: from your content (music, art..) to your live events (concerts, shows...).
How does P00LS make money?
P00LS is not a traditional for-profit company - it is an open-source protocol. As such, we do not “make money.” Said another way, creator tokens on the platform do not generate revenue for P00LS. Rather, the success of each creator token creates and supports the value of the P00LS protocol. This value is reflected in our governance token, called $00, which will be issued in Q2 of 2022.
- $00 token holders earn 10% of all the trading fees for creator tokens on the P00LS marketplace.
- $00 token holders own a small % of the liquidity pool of each creator token on the P00LS marketplace through a community-owned treasury.
Every creator on the platform has a stake in the success of the platform through their ownership of $00 tokens.
Is this a brand deal?
Your token is not a brand deal. In the future, creators will have their very own currencies for their ecosystem. P00LS is helping you get ahead of that and benefit from changes in technology