How it Works
The REPS platform is built on a novel narrative and an array of cutting-edge technologies. primary drivers include
Community
The Support-to-Earn Narrative
The Proof-of-Support (POS) Protocol.
1. Community
Communities are important because of the support they offer, thanks to contributions in viral marketing, vibe marketing, and unprovoked evangelism. Looking back in time, this is why crypto made it this far. Each project devises different strategies for building its community; in commonness, incentivization comes in, along the way. Sometimes, this falls into the chicken-and-egg paradigm: incentives and thriving communities.
In Web3, the community is more important than ever. Creating a flourishing community and running a thriving web3 project are complementary, one leading to the other.
REPS leverages community power to build even stronger communities.
2. The Support-to-Earn Narrative
Support-2-earn is the next frontier in community development. We believe it holds enormous potential and a good level of superiority compared to other incentivization strategies.
Support-to-Earn is a marketing strategy that rewards participants for engaging in impactful conversations. Using weighted points, which are converted to token rewards, it pursues fair rewards for people to promote a project through short and long-form posts.
Support-to-Earn has a near-zero capital requirement. No NFTs, no advanced mining/staking setup. Participants are only required to own an account on X.com and engage in relevant discussions.
Advantages of Support-to-Earn over other incentivization strategies include;
Positive tokenomics and sustainable rewards
POW, POS, P2E, and most other incentivization strategies are embedded in the projects’ tokenomics and are significantly inflationary. As the rewards progress, the token supply swells against the usual demand. Support-2-Earn rewards the community for promoting the project and creating more demand. Good marketing has a direct positive effect on demand. Support-to-Earn boosts demand for a token with minimal rewards handed out each time. Projects can dedicate a portion of the existing community allocations to running reward programs on REPS. This maintains the tokenomics structure while boosting demand and strengthening the market for the project.
For TGE projects, this is even more relevant as it fast-tracks the go-to-market process for the project.
Systematic Composability and Flexibility
Relative to rigid incentive systems like Stake-to-Earn (POS and single-side DeFi staking), POW, play-to-earn, and more; the Support-to-Earn system being built on REPS is incredibly flexible. Support-to-Earn enables projects to modify their reward structure according to factors such as demand and community opinion. The system’s constituent pieces are adjustable and built to improve. The weighting system is powered by a self-learning protocol (the Proof of Support protocol) that evaluates internal and external factors and adjusts to maintain fairness and resist censorship.
Inclusivity
Everyone is welcome to be a part of REPS. Projects, developers, KOLs, regular social media users, and crypto enthusiasts from all over the world. The platform has no geographic gating system. It is permissionless and is built to serve everyone. Every true community is diverse, we understand this and are working on a system that provides fair support and opportunity for every user.
Viable for macro application
REPS will start with support for the DexCheck project and our native DCK token. It will quickly expand to external and partner projects. The system is designed to handle an infinite number of projects and scale to serve millions of users at the same time. Even outside Web3, the facility is viable for loyalty programs by mainstream firms. However, we love tokenization and designed the system to support cryptographic tokens and smart contracts.
3. Proof-of-Support Protocol
The Proof of Support (POS) protocol powers the REPS platform. It is a set of algorithms powered by a central AI model that validates posts and their contents. The POS protocol determines the weight score of posts by analyzing their content and drawing inferences. POS is a self-learning system and optimizes where needed to maintain a fair scoring system.
POS evaluates posts and comments using several factors, some of which include
Quality: Shills and Educational posts attract different scores.
Smart Followers: Smart followers are high-value followers; this includes followers with a high follower count and followers who have made a series of posts with high engagement.
HODL habit: Points earned could also vary, depending on the participants' HODLing habits. This will be discussed later under a different heading.
Last updated