Sapien is a highly customizable, democratized social news platform capable of rewarding millions of content creators and curators without any centralized intermediaries. Sapien is powered by an ERC20 compliant cryptocurrency called SPN. The Sapien network will rapidly evolve to include a marketplace, various integrations, and third-party applications.
Why the Sapien Network?
Current social media sites sell user data, have no effective way to identify fake news, and are unable to reward users who create value.
Sapien will incentivize creators to produce high-quality content by rewarding users with SPN. Users can manage their token portfolio in the Sapien digital wallet, which can store any Ethereum ERC20 standard token. SPN can be used in our decentralized marketplace to buy physical and virtual goods, content, and services enabled by our global reputation system.
A user’s contributions within Sapien are evaluated by other users, accumulating a reputation score that reflects their expertise in a domain. The Sapien Network will allow a community to distinguish valuable content, limiting the influence of trolls and the spread of fake news.
SPN will power the world’s first Democratized Autonomous Platform, giving users a real voice in shaping the product roadmap and organization through an innovative proposal system.
TOKEN SALE
Presale
- Token Exchange Base Rate: Phase #1 rate +20% (final exchange rate will be fixed closer to presale)
- Currencies Accepted: ETH
- Tiered Investment Structure:
• >$250k: +25%
• >$100k: +15%
• >$50k: +7%
• >$10k: +3%
• <$10k: no bonuses - SPN Distribution: Smart Contract will distribute tokens after Token Sale Phase #1 is complete.
- Minimum Presale Goal: No minimum
Allocation of Presale Funds
Presale funds will be used to cover legal costs, fund the marketing campaign, and pay for the development of SPN.
Token Sale Phase #1
- Total Hard Cap (in USD): $30,000,000
- Currencies Accepted:
• ETH: Natively supported.
• BTC: Not natively supported. Contributor will be asked for an Ethereum address. A BTC address will be generated and bound to the Ethereum address specified. Once BTC is received, SPN will be sent to the Ethereum address specified.
• Non-Ethereum based cryptocurrencies: Supported via https://shapeshift.io - Token Exchange Base Rate: Final exchange rate will be fixed closer to presale
- Bonus Structure:
• Day 1: +15%
• Week 1: +8%
• Week 2: +3%
• Week 3+: no bonuses - Issuance Rate: All new tokens will be distributed to value creators within Sapien
- Minimum Goal: 50,000,000 SPN
Minimum Goal
Our minimum goal has been set strategically to ensure that the Sapien core team can quickly, securely, and completely deliver on our promises for the SPN token and the Sapien platform. If our goal is not met, all investors will be refunded through our smart contract, minus any funds that were liquidated for marketing and other expenses.
SPN TOKEN
Proposed Utilities:
Utility I: Staked SPN to Power the Sapien Platform
In order to encourage stability of the SPN token, the longevity of its platform, and the curation of good content, Sapien will allow tokens to be staked to access social features on the platform. SPN tokens can be staked for a period of 1 year. Staked tokens can be used to upvote content, vote on proposals, submit new proposals, tip, and access premium branches, and much more. On the other hand, unstaked tokens are liquid: unstaked SPN will be easily transferrable out of Sapien and tradable on exchanges.
Staked SPN tokens do not necessarily get consumed in platform transactions. Rather, consider them “locked up” for platform actions. For example, the platform will at first require 10 staked SPN to make a new post on the platform. Initially, exactly 10 SPN will be returned to the user at the end of the voting period for the post. When SPN payouts are integrated, it would then be possible for the user to receive back more than 10 staked SPN. However, if the user posts illegal content or violates community guidelines, it would be possible to penalize the malicious user by freezing their staked SPN.
Utility II: Reputation Network built-in the SPN token
Contributions made by users, publishers, and businesses on the Sapien platform will be inherently stored in the SPNtoken with a reputation score. All users will start out with a reputation score of one. Then, depending on the value the user adds to the platform, this score can be positively or negatively impacted. When quality contributions are evaluated positively, a user’s reputation within a community will increase; low-quality posts and comments will lower a user’s reputation. Reputed users will be delegated more “power” on the platform, allowing them to have a greater say in what qualifies as valuable contributions within their respective communities.
Utility III: Democratized Autonomous Platform (DAP) Proposals
SPN token holders will be able to create and vote on proposals for Sapien. Proposals can theoretically consist of anything, ranging from organizational decisions to feature requests to marketplace reward modifications. Proposals will be at the core of the DAP, enabling users to self-organize and self-moderate their communities. This elevates the autonomy of a community, empowering users to actively build the community that they want to be a part of. Bad actors will be flagged for inappropriate behavior within a branch, creating a tribunal. A tribunal will enable the community to collaborate and decide if a user should penalized and to what extent. Reputation will be tightly tied to community organization and execution of the DAP.
Utility IV: Content Payouts and User-to-user Tips
To further encourage and cultivate quality content on Sapien, the SPN token will be the backbone of payouts and user-to-user tipping. Payouts for content creation are the primary mechanism for rewarding users and promoting the creation of quality content. User-to-user transactions will create an altruistic environment in which a user can selectively reward authors and original content creators for posts, comments, podcasts, videos, memes, etc. The elimination of transaction costs and the utility of a token (a tangible reward unlike Reddit gold) should sufficiently incentivize users to post original content, growing both the Sapien platform and the SPN token value.
Users will not be required to have substantial knowledge of cryptography or how tokens operate. Sapien will offer various settings that can be customized to fit the skill-level of users. The interface for single-time payments will be displayed in dollars, while the SPN token will be used in the background. Advanced users will have the option to manage their own private key for their SPN address. Users will also be able to set up recurring payments for premium subscriptions. Our intention is to open the benefits of SPN to everyone, regardless of their qualifications or crypto expertise.
Utility V: Standardized Token for Integrated Marketplace
The aforementioned DAP proposal system will be used to propel much of the development of the marketplace. After opening up the platform to developers, the interface will benefit from the collective imaginative power of our community.
The Sapien marketplace will be the ultimate portal to manage SPN and accelerate market liquidity. Within Sapien, users will be able to transfer tokens, view the marketplace, and manage their portfolio.
Transfer Tokens: A simple interface to transfer and exchange SPN tokens.
Manage Portfolio: Allows users to view their staked and unstaked SPN token distribution.
Marketplace: To complete the ecosystem, a community-driven marketplace will serve as the primary interface for users to create and access exclusive rewards, themes, and components, both within Sapien and through third-party businesses.
Our team priorities for the marketplace:
- Design and develop the initial rewards with input from our user base.
- Actively reach out to businesses to negotiate discounts for SPN holders on products ranging from ride-sharing, to merchandise, to pizza, etc.
- Launch a secure community platform for contributors to develop new features, themes, and integrations for Sapien users.
Utility VI: Ad Platform Revenue Sharing
User privacy is a critical part of our philosophy, and as such we will allow users to have complete control over their relationship with advertisements on Sapien. By default, users will see no advertisements and no personal user data will be collected without a user’s knowledge.
If a user decides to see ads, all revenue generated will be shared between the user and Sapien, with the user receiving no less than 50% of this revenue in the form of SPN tokens. Users will be able to increase the percentage of ad revenue they receive by staking SPN on Sapien.
By default, user data will not be collected on Sapien. Users will be able to choose what data, if any, they want to share with advertisers. Users will receive a greater percentage of ad revenue for sharing their data with advertisers. The percentage of ad revenue received by a user will be based on a tiered system, with users receiving a greater percentage if they have more SPN tokens staked.
Sapien will also facilitate user-to-user advertising. Community (groups or branches) owners will have the option to display advertisements on their groups and will receive a share of ad revenue for doing so. The choice of whether or not to display advertisements is entirely up to the community owner and they will have complete control over which ads are displayed on their group page. Sapien will receive a small share of ad revenue generated in groups while the majority of this revenue will be split between the community owner and the users. The distribution of revenue between owners and users will also follow the above tiered structure. The portion of ad revenue a owner receives will increase as they stake more SPN.
Advertisers will be able to purchase ads on Sapien with either fiat or SPN tokens and reach users who have shared relevant information or to public branches that align with their target audience. Advertisers will also receive a substantial discount for purchasing ads with SPN tokens.
Roadmap
2015 : Idea behind Sapien conceived and development begins
2016 : Closed alpha is launched, written with full-stack javascript
2017 Q1 : Private beta launched with integrated chat and voice channels
2017 Q2 : Transition from an end-to-end encrypted platform to Blockchain application
2017 Q3 : Complete SPN white paper and begin Ethereum smart contract development
2017 Q4 : Launch testnet faucet and showcase token in Sapien
2018 Q1 : Token Sale Phase #1 and implement payouts for creators and curators
2018 Q2 : Increase brand awareness and begin porting Sapien platform to a DApp
2018 Q3 : Incentivize network effects and revamp UI/UX for crypto novices
2018 Q4 : Ramp up marketing efforts; acquire 10k new users per month
2019 Q1 : Build infrastructure for Democratized Autonomous Platform
2019 Q2 : Roll out decentralized marketplace , premium content and features
2019 Q3 : Open developer platform to third-party applications and integrations
2019 Q4 : Optimize platform to scale and add 1M new users per month
2020 Q2 : Tokenize user data and extend token use to other websites
2020 Q4 : Add 10 million new users per month
More Info About Us:
Website : https://www.sapien.network/
White Paper : https://www.sapien.network/#docSection
Blog : https://blog.sapien.network/
Youtube : https://blog.sapien.network/
ANN Thread : https://bitcointalk.org/index.php?topic=2739033
Twitter : https://twitter.com/sapien_network
Reddit : https://www.reddit.com/r/sapien/
Facebook : https://www.facebook.com/sapien.network
Telegram : https://t.me/SapienNetwork
VK : https://vk.com/sapien.network
More Info About Me:
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1345108