A couple of months back I had written a post about Debank platform. I covered what steps you could follow to maximise your eligibility for a future airdrop expected to be launched sometime in 2024. How soon the airdrop might come still no one knows for sure.
One point I had mentioned was that minting a Web3 ID on Debank costs $96 and that time I was not sure if that would be a wise investment. Still I decided to invest that $96 on minting a Debank ID as it gave you many more options to interact with on the platform.
Was the $96 Investment worth it?
Since making that post few months back I have already recovered my $96 and now the daily earning seems to keep going up. I would like to clarify here that you can earn on Debank even if you don’t mint the $96 ID but it will just be slower as there will be many promotional posts that you will not be allowed to interact with as they have a Web3 ID filter making them exclusive for people who minted the IDs.
How to make the $$ on Debank?
To earn everyday on Debank you just need to be active on their feature called Stream which is very similar to Twitter on layout where you can make posts, repost stuff, liking a post is called trusting a post in Debank lingo, make comments etc.
Where are the $$ coming from?
You will naturally wonder that where is the $ payout pool coming from. This mainly comes from the reward being offered by the account making the post. Debank has really grown in popularity over the months and I now see many crypto projects promoting their products on Debank. Offering a big reward acts like a marketing budget a sit gets ore attention from the platform users. Rewards are also used by people who want to promote their account to grow their network and even some small users add small rewards to slowly increase their circle.
How Much can you Earn from Debank?
This depends entirely on how big your network is on Debank and how active you are. If you have a large number of followers then it means a re-post by you will be seen by many users on the platform. For this effort the promoters will give you a much bigger share of the reward they are distributing.
In the screenshot below you can see I am generating about $3 value through my interactions on the platform and a part of this will be added to my Debank account on a rolling basis. You can also see that there are many people who are making more than $150 everyday on Debank. Those are mainly the whales who use the Pro features on Debank and have big networks.
Why Am I Super Bullish on Debank?
$100 a month for just regular activity on a social media platform is a good incentive but of course it is not life changing stuff. This however makes me really bullish long term on Debank as this platform is growing very well. I have seen many similar projects trying to make a decentralised social media platform die out but Debank just keeps getting stronger and stronger.
I think once the airdrop is finalised it will cause another wave of user adoption and as more people try out the platform then the rewards for OG users will also go up.
This is also super useful for me as it has created another small stream of income to fund my mania for collecting meme coins and sh*tcoins. I used my last payout from Debank to buy some meme-coins on Solana and Sui but details on those merit a separate post which will be coming soon.
Cheers,
Sam
