My first steps into another Web 3.0 Social Network
One of my personal goals for 2024 was to try to open my horizon and look a bit outside of Hive. I believe that what Hive is lacking the most is to be linked with other projects in the cryptosphere. Whenever I find an interesting project, I try to dive into it and try to understand how it works and whether it's worth to share my knowledge with you guys.
A couple of days ago, I landed on DeSo. DeSo is a web 3.0 social network very similar to Hive. DeSo operates on its own blockchain. I couldn't find out much about the technicalities of the blockchain but I know that transactions are very cheap and pretty fast. The blockchain is the base layer and a multitude of apps use it.
My profile on Diamond App on DeSo
The most prominent app is called diamondapp and looks a bit like X, the former Twitter. It's mainly for short form content. I like it's simplicity and it's speed. There are plenty of different other front-ends that use the blockchain and I won't get into each of them. Here is a list of all the dapps. There are apps that intend to reproduce other web 2 services like instagram, twitter, linkedin, etc. There are also other very interesting apps that allow you to create and sell NFT's or even to fund your project.
DeSo offers interesting ways to monetize your content
DeSo offers several options to monetize your content. You can get rewarded through diamonds which are tips that you can receive from other people on the platform. Then there is a very interesting concept which is the Creator Coins.
How do Creator Coins work?
When you create an account on DeSo which is 100% free by the way, you automatically get a Creator Coin with your name. This is your own coin on DeSo. Everybody can buy or sell this coin very easily with DESO tokens.
DESO tokens are traded on Coinbase or can be purchased on site with many different cryptos.
When people buy CC, they buy into a kind of liquidity pool. The more Coins are bought, the more the price goes up. So a great way to earn money on DeSo is to invest in promising content creators and keep their tokens to sell them at a later date. You can buy your own tokens but you shouldn't sell them. It's considered being a rug pull and you will quickly lose your reputation if you do that.
I was quite suprised to see that people have already bought my CC on DeSo
Set your Founder Reward to earn with every sold CC
However there are ways to earn with your CC by setting your Founder Reward (FR). At the beginning the Founder Rewards is set to 100%. This means that when people buy your CC, you will get 100% of what they invest. So nobody will invest other than yourself at the very beginning and this is the way to go. Once you bought your own tokens, you can reduce your FR to something between 10 and 30%. So each time somebody buys your CC, you will get 10 to 30% of the invested sum in the form of DESO tokens. This means that you will earn with each time somebody purchases your token!
There are also other ways to earn with DeSo for example by minting and selling NFT's or by creating your own project that can be founded by the community. You can emit your own project token that can be actively traded.
A rather small user base
The issue with DeSo in my opinion is the relatively small number of users. According to the DeSo
explorer there are around 4000 active daily accounts which isn't that big I believe. Also the interaction on the content is limited and there are also quite a lot of bots at work.
Could Hive and DeSo build up synergies?
There are many similarities between Hive and DeSo. In my opinion, it's quite exceptional that so far I haven't found anybody that I know from Hive. It seems like these two ecosystems are evolving in parallel but hardly know about each other. I will try to go on discovering this platform and maybe there could be some ways in which linking DeSo together with Hive could help both ecosystems to evolve.
If you want to join DeSo, it's totally free to create an account and it's done in seconds. When you create an account, you only need an e-mail address and to copy a seed phrase that will be your password. Once, you are on the platform, make sure to find me:
https://diamondapp.com/u/achim_beda
It would be great to build a Hivian community on DeSo!
Let's connect ! You can find me on these platforms:
I've known of DeSo for a while now. I actually discovered it before I found Hive, but I had issues getting started, so I never got anything rolling. I did create an account I believe. I really appreciate you sharing your experiences with it. I also love how you're talking about creating mutually-beneficial relationships and synergies between Hive and DeSo. I've talked about the same thing in my own posts between Hive and the two other sovereignty-driven blockchains where I am active, Bastyon and Qortal. Perhaps I'll give DeSo another look. I know that @flaxz has an account there. 😁🙏💚✨🤙
I just found flaxz there thanks to you :-). I'm still figuring out how things work but there are aspects that I really like and that could have great synergies with Hive I believe.
Excellent! I'm happy to help! I just tried to sign into diamond.app, and I can't do so because it says I don't have sufficient funds...🤣 I finally figured it out, though! I'm signed in and exploring now! 😁🙏💚✨🤙
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i had come across it, do you think it's worth the time, i thought about creating an account
I can't say for sure yet wether it's worth our time but I like going into other ecosystems and try to bridge them with Hive :-)
I've heard of this for a while now but haven't joined. Most of the time, I read about these projects early but can't be bothered trying xD or sometimes I just forget about it. I want to branch out more especially when it comes to my photography content. Just maybe it'll find its home in another place.
When I look at hive and DeSo both have great sides and both have some weaknesses. I believe it can be helpful to play our game on several platforms :-)
Quite interesting to hear about dezo and it is a new project right?
It's actually not a new project. It was named bitclout before.
Hi! I went I try to suscribe, but my Internet connection dont help, but I will continue trying, looks really interesting.
Hope it will work next time :-)
Me too, I need new sources of in come.
Deso, quite the first time I am hearing about this platform but it seems to share similarities with the hive blockchain
I hadn't heard about it and I was surprise to see how similar both projects are.
What can I do with the diamonds I received? can I sell them or convert to DeSo?
Whenever you get diamonds, you recieve the equivalent value in DeSo directly into your wallet. You can then use this value to tip yourself or to buy creator coins :-)
I just managed to find my old account details. It has been over a year since I last used the Deso Diamond App, but like you said, there is not much happening over there. The token has had a nice pump though!
The number of really active human users isn't too big indeed. This means that that it will be much easier to get noticed on such a platform than on X for example. I believe it could be a good place to share our content from Hive.
I have done that in the past, you could be right.
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Wow this is an interesting concept! Thanks for sharing! Will check it out when I have time!
It's definitely something different worth figuring out :-)
I made an account over there when it first came but don’t use it, might be time for another look
I also created an account way back and didn't use it. I even lost the keys lol
It sounds quite interesting and I don't think I have ever heard about it. I think it's an interesting token but what are the uses for the creator tokens?
I haven't understood it 100% yet. You can basically buy and sell these tokens and thereby support authors and maybe earn with their tokens. Also you can tip people with these tokens. So there should be some interesting concepts to build up :-)
I am also in the process of looking for new projects outside of Hive. I knew about this but I haven't gone into much depth.
It's an interesting concept that is similar to hive but very different all the same :-)
It's great to see you exploring new horizons and checking out DeSo,a simliar Web 3.0 social network like Hive. I'm sure you'll find some interesting ways to monetize your content and engage with the community. As for the Creator Coins, it's fascinating how they work, I'm also intrigued by the Founder Rewards.
As for the relatively small user base, I agree that it could be a challenge. But who knows, maybe linking DeSo with Hive could help both ecosystems evolve and grow. Thank you for sharing.
It's interesting to compare the two ecosystems.
This sounds interesting. Do keep us posted about it. Happy new work week ahead!
Made in Canva
!ALIVE
_
@achim03! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ aliveandthriving. (6/40)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
Thanks for the curation!
Happy Tuesday, Achim! 😁 🙏 💚 ✨ 🤙
Made in Canva
Thanks for this
I’d join now and reblog this post so I can easily find it when I need it.
Also, if I have any question, I’d let you know
It seem complicated to me for now though but I’m sure I’d understand it with time
Always feel free to ask questions :-)
Great keep doing
Thank you!
Same is the case with all the other projects that are partnered with this project in the future we will see that they will perform very well in the future because this project is very strong.