What you need to know about DESO crypto!

One of the next development trends of Web3 technology is decentralized social networks. Let’s take a look at Decentrailzed Social and DESO token, one of the projects in this field.

I. What is DecentralizedSocial?

Decentralized Social (DeSo for short) is a decentralized social networking project as the name suggests. DeSo is essentially a Layer 1 blockchain project whose mission is to build a social networking ecosystem that gives users full control over their identity, profile, and content information.

Through DeSo, users can publish content with a self-censorship mechanism, and the platform will not interfere with any user data. In addition, thanks to tools familiar to crypto users such as social tokens, social DAOs, social NFTs, social tips, etc., anyone can make money freely.

II. What are the highlights of DecentralizedSocial?

DeSo is currently one of the leading projects in the field of decentralized social networking platforms. DeSo is also a well-known blockchain platform:

  • DeSo positions itself as the only blockchain that can ensure that big data storage applications run efficiently. In DeFi-centric blockchains, the storage cost per post (like, follow, etc.) can exceed $0.15. With DeSo,

  • It only costs about $0.000017. Built for the ever-growing social media.

  • Both the code and data are open source, and all data about user accounts is stored on the chain and can be accessed by anyone.

  • DeSo becomes a platform for other projects to build on this blockchain, and projects in the fields of social networks, NFT marketplaces, DAO tools, fundraising platforms, etc. can be easily developed here.

With the above characteristics, DeSo has also achieved considerable results:

  • After 622 days of operation (as of March 1, 2021), the blockchain has 78.1 million transactions.

  • Content creators have earned a total of over $7 million from the platform.

  • In the past 30 days, there were 139,292 active creators, creating 136,000 new wallets.

  • The total number of wallets on DeSo has reached 1.9 million.

  • The average transaction fee per post is 0.000001 $DESO.

After successfully creating a profile, users can participate in many projects that are already active on DeSo:

  • Diamond: A decentralized Twitter

  • DAODAO: A decentralized fundraising platform

  • Desofy: A decentralized social network for mobile phones

  • Stori: A decentralized version of Tiktok

  • DeSo Messenger: A decentralized version of Discord

  • Zirkel: A decentralized version of Medium

  • Pearl: A decentralized version of Instagram

  • ……

III. Benefits of holding DESO tokens

  • DESO is the native token of Decentralized Social and can be used for the following purposes:

  • Pay transaction fees when creating a post on DeSo.

  • Use DESO to buy and create your own tokens (Creator Coins).

  • DESO can be traded throughout the ecosystem as an intermediary asset, similar to ETH.

  • Holds executive voting rights.

IV. Project Team, Investors, and Partners

  1. project team

DeSo’s ecosystem is supported by the DeSo Foundation, which is led by Nader Al-Naji, who previously worked at DE Shaw Group and Google. Meta’s core member Salil Shah, formerly of Pinterest, also recently joined DeSo as COO.

The information of other members will not be made public.

  1. investor

DeSo successfully raised $200 million in a seed round with 22 investors, including a16z, Coinbase Ventures, Sequoia, Winklevoss Capital, Polychain Capital, Pantera Capital, etc.

  1. partner

DeSo often works with partners to help users have a smoother experience when participating in events. The latest and most prominent one is the integration with MetaMask.

  1. Roadmap and Updates

The project is divided into three phases, currently in Phase 1. In the near future, there will be 2 functions and MegaSwap, on-chain chat groups.

V. DESO Token Details

  1. DESO Token Details

  • Key Indicators DESO Token

  • Token name: Decentralized social token

  • Code: DESO

  • Blockchain: DeSo Blockhain

  • Token Contract: No

  • Token Types: Governance and Utility Tokens

  • Total supply: 10,808,492 DESO

  • Circulating Supply: 8,884,536 DESO

  1. DESO Token Distribution

DESO is allocated in the following proportions:

  • Public sale in the form of bonding curve: 78.7%

  • Mining: 2.8%

  • Founding members: 18.5%

  1. DESO Token Sale

DESO has been sold through a bonding curve, and the price will increase as the total supply increases. In addition, this format limits each person to no more than 5% of the total token supply.

  1. DESO Token Issuance Schedule

updating…

  1. How to Earn and Own DESO Tokens

Currently, the only way to own DESO tokens is to trade them on CEX exchanges, or you can buy them with fiat currency directly from the project homepage (https://buy.deso.org).

VI. DESO Token Exchange and Storage Wallet

  1. Storage Wallet

DESO tokens can be stored in a dedicated wallet on the DeSo blockchain, such as the DeSo Wallet.

  1. Exchange

DESO can be traded on Coinbase, CoinEx, Blockchain.com, AscendEx (BitMax)...

in conclusion

This article is for informational purposes only and is not investment advice. I hope you find this information useful and informative. I wish you good luck and success in 2023!