The new Content Economy powered by blockchain - Sapien Network

The new Content Economy powered by blockchain - Sapien Network

By Haiaty | Blockchain Enthusiast | 1 May 2019


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WHAT IS SAPIEN NETWORK

According to their website 

Sapien is a Web 3.0 social news platform that gives users control of their data, rewards content creators, and fights fake news. 

So basically it is another platform that powers the content economy where users can earn crypto tokens for creating new content. Users are rewarded with SPN tokens. Users can earn rewards by posting, commenting and upvoting. On Sapien, there is also the option to stake SPN tokens and earn more based on their stake. The more SPN the user stakes, the more SPN he earns. (Note that SPN tokens  can be exchanged for other tokens in exchanges where they are listed and then to dollar/euros by doing some other steps)

 

SPN TOKENS

SPN token is the utility token used in the Sapien platform. You earn it by being active in the Sapien platform. You can see its value and where it is listed here: https://coinmarketcap.com/currencies/sapien/

 

REWARDS

Rewards are distributed by a voting process that they call Charges. What are charges? It is a kind of vote. The more Charges a post receives, the more SPN Rewards that post will receive. There is a direct correlation. The user or post that receives the most Charges in a day will also receive the most SPN Rewards that day. When you give a post a Charge you are basically telling the Rewards Engine that you think that specific post is adding value to a community and you believe it deserves to be rewarded. 

You only have a fixed number of charges. There is a daily allocation of charges assigned to users based on their Sapien Staking Tier. The higher your Staking Tier, the more Charges you receive per day. 

Rewards are now calculated and distributed on a daily basis at 9pm UTC.

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Haiaty
Haiaty

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Blockchain Enthusiast
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