What is Social Mining?
Soft Staking SaaS, DAO Labs, DAOVERSE, and Governance
Social Mining is a multi-chain community building and governance ecosystem that consists of different areas and entities: Social Mining SaaS, DAO Labs, DAOVERSE, and Social Mining Governance.
DAO Labs is the proprietor of the Social Mining SaaS.
Social Mining SaaS is the core product of DAO Labs' software suite, DAO Governance Solution for Digital Business, natively compatible with multiple blockchain infrastructures, including Ethereum, BSC, Polygon, NEM, and Symbol. Social Mining SaaS functions as a governance layer to incentivize decentralized developments and collaborations, maximizing the potential and outputs of any organization's networks and communities.
DAOVERSE is DAO Labs' Social Mining V1 platform, incentivizing any interested individual to govern and build DAO Labs' Social Mining community.
Social Mining Governance is a decentralized hub that governs the Social Mining V2 development and Social Mining community-building, currently enabled by DAOVERSE's Labour Index system. Social Mining's governance token, LABOR, will be minted and distributed to DAOVERSE users based on their individual efforts fuelling their respective Labour Indexes.
Introduction
At DAO Labs, we believe the power of community is crucial to an organization's success. We support the idea that organizations should reward their community members for contributing to organizational growth through a DAO structure based on a merit based system.
Social Mining is a DAO governance solution that incentivizes fair governance and quality content curation from communities and networks of any organization. Social Mining is aimed to help centralized and decentralized organizations generate digital footprints and spread public awareness through a DAO that incentivizes UGC (user-generated content).
Why do projects and their communities need Social Mining?
A fair day's wage for a fair day's work
Marx Engels
Problem Statement
Bitcoin and Ethereum are successful blockchains partially because both protocols have a fair incentive mechanism that rewards miners who contribute their computational powers to secure networks, making decentralization possible.
However, the success of Bitcoin and Ethereum is not merely determined by miners. Other individuals from the community are supporting the blockchain in different ways to make both blockchains a success. Their form of contribution include technical development, business development, marketing, and community-building. For example, some may create an exchange to allow people to enter or exit the cryptocurrency market. In contrast, others may develop a wallet enabling users to receive, send, and store their crypto assets. Despite the importance of their contributions, there isn't a well-designed mechanism to reward these activities as Bitcoin/Ethereum mining does.
During the ICO bubble in 2017, many crypto projects allocated a certain amount of tokens to incentivize community-building via bounty campaigns and airdrops. However, both methods are centralized that lack longevity in design. As a result, numerous crypto projects used bounty campaigns to pump their social media to tens-thousands of followers in a matter of days, and almost none of them understood the project. In most cases, people who contribute high-quality work receive the same rewards as those who contribute less quality work, driving talented and hard-working people away from the project.
Social Mining as a Solution
The crypto industry needs a better mechanism to incentivize community-building that is decentralized and supports projects on the long run. Social Mining meets this urgent demand.
For projects that have already minted and distributed their native tokens, Social Mining only allows token holders to benefit from the incentives, enabling real project supporters to govern, work, and earn.
Token Holder Matter
The platform assigns users Influence scores based on their wallets' holding status, such as the number of tokens stored in the wallet. It allocates voting credits to users based on their Influence scores daily or weekly.
Social Mining users can submit proof of their contributions and get validated by others who are spending their voting credits, creating a decentralized contribution validation system where token holders decide whose contributions are worthy of a reward.
Earn Through Recognitions
Each user receives Points & Reputation based on the number of upvotes & downvotes obtained from their contributions validated by the community.
Social Mining initiates the Workdrop procedure periodically to reward users token based on the number of Points and Reputations received since the last Workdrop, ensuring recognized contributors work and earn by routine and in the long term.
The community flags spammers, frauds, irrelevant contributions, and low-quality work with downvotes, forcing people who want to earn to do things that genuinely help the project's growth.
Know Your Community
Social Mining onboarding survey is a crucial function that allows the team to know the community, understanding what kind of undiscovered talents can be discovered within their ecosystem. Social Mining can automatically assign different roles to each user which completed the onboarding survey, helping the project organize decentralized human capital.
Proven by Leaders
Social Mining is a proven product that helped many leading blockchain networks to build their communities, including Elrond Network, Avalanche, and NEM & Symbol. Social Mining assisted these projects in gaining over 200,000+ skilled supporters, generated 900+ million impressions with over 150 million USD of crypto assets being soft-staked via Social Mining.
If you want to know more about Social Mining, please read our COMMUNITY GUIDES.
What is the current status of Social Mining development?
Social Mining V1 is the first version of the Social Mining SaaS available for any organization, featuring soft staking, community governance, team tasks, automated social media marketing, automated token distribution, and user segmentation.
Social Mining V2 is under development with significant improvements to Social Mining V1, including eased integration, enhanced governance, decentralized labour & tasks, mobile-friendly interface, and improved UI & UX. It further will drive DAO Lab's ILO as the main element of control. The estimated release date of Social Mining V2 documentation is between May 1st and June 1st, 2022.
Which projects are using Social Mining platforms?
Several leading cryptocurrency projects are using Social Mining V1 platforms for their community with an accumulated market capitalization of 50 Billion USD, integrated with 7+ public blockchain networks, including Ethereum, Binance Smart Chain, Polygon, NEM NIS1, Symbol, Avalanche, and Elrond.
Projects that have used Social Mining: Avalanche, Elrond Network, Polygon, NEM & Symbol, Harmony, Injective Protocol, Orion Protocol, and LTO Network.
Currently, Avalanche's Avalanche Hub, DAO Labs' DAOVERSE, Polgyon's Polygon Hub, Kava's Kava Hub, WAX's WAX Hub, and TON's TC Hub are open for everyone to join.
Are all Social Mining platforms the same or different?
Each Social Mining platform is unique as Social Mining is a highly customizable SaaS solution depending on projects' needs. A Social Mining platform can be fully decentralized, completely centralized, or semi-decentralized. In addition, a Social Mining platform can be permission-less (usually for C2B projects) or permissioned (usually for B2B projects).
This documentation explains a permission-less semi-decentralized Social Mining V1 platform with all features implemented.
Last updated