# Introduction

## What is SociFi? <a href="#what-is-solcial" id="what-is-solcial"></a>

In the era of digitalization and social media, SociFi embodies the mission of rethinking traditional finance by offering an innovative platform that combines social interaction and decentralized finance (DeFi). Our project aims to enhance financial efficiency, accessibility and rewards for users of social platforms by creating integrated decentralized financial tools. The SociFi platform offers users the ability to earn money from their content and interactions, participate in crowdfunding and crowdinvesting campaigns, use unique social tokens to share value and participate in community management, and acquire and use NFTs to uniqueize their digital identity. SociFi provides full control and security of personal data, thanks to a decentralized identity system. Our goal is to create a transparent, secure and enabling ecosystem that empowers individuality and collective interaction in the social sphere.

In addition to social and financial tools, SociFi opens up new horizons of virtual interaction by allowing users to create their own metaverse spaces. In these personalized virtual worlds, users can come together to collaborate, trade digital assets and monetize their projects through active audience interaction.&#x20;

SociFi's platform API simplifies the integration of third-party applications and services, empowering developers and entrepreneurs to create and monetize unique virtual experiences and services.

SociFi is a permissionless social network allowing users to be rewarded fairly for their work, and promoting freedom of speech by allowing users to interact without fearing ban or censorship.

SociFi is a new social network with a cross-platform app and a [website](https://socifi.io). SociFi is fully launched on Solana mainnet allowing any user to join and create their own posts, token, and NFTs. On SociFi each user has their own token, allowing their audience to invest directly in them. Users can mint 1 million of their user tokens when they signup, that supply is fixed and the same for everyone (this step can also be delayed if unable to mint during onboarding). To begin with every user will have their token price set to $1 with 10,000 of their tokens put in a liquidity pool. This helps ensure that tokens are tradeable and users can compare token prices knowing they began at the same price. Otherwise, these coins are yours, you can keep them or sell them (or send them to friends).

To follow people on SociFi we have 3 subscription levels: you can follow someone for free (Tier 1) to access their public content (similar to Twitter or Instagram), and to access their private content (what we call Tier 2 and 3 subscriptions) you need to own their token, to be an investor in them. That’s what we called the “invest-for-subscription” model.

You can also display your NFTs on your user profile. If you do not have NFTs in your wallet you can easily mint your own using our NFT mint feature directly on the platform. In potential future versions we may add an ability to buy & sell your NFTs with your friends without going to external NFT marketplaces.

While our first version of SociFi has some centralized components, future versions will ensure all user content is stored on [IPFS](https://ipfs.io/) and accessed through a P2P layer that we developed. Therefore SociFi doesn't rely on censorable servers or gateways. And the token related operations (minting, trading etc) are all on the [Solana blockchain](https://solana.com/).

## User token <a href="#user-token" id="user-token"></a>

* On SociFi everyone has the option to have their own token, with their own price, and market cap. Every user begins with a token price of $1, but this changes as market demand either increases or reduces your price. You could see it as a "social market cap".
* We also introduced the "invest to subscribe" model: when you buy the token of someone, you not only invest in them, but you also subscribe to their private posts, only visible to their token holders. These subscribers are tiered based on the amount of token you hold. For example for a user named Joe:
  * Tier 1: Anyone can follow Joe for free, and access his public content.
  * Tier 2: Anyone holding 5 JOE tokens can see the Tier 2 content of Joe.
  * Tier 3: Anyone holding 70 JOE tokens + paying $20 USDT/month can see the Tier 3 content of Joe.

These tiers and amounts are all customisable for every user.

## Permissionless

* The other interesting feature of SociFi is that there is no central authority that decides what gets censored or permitted. It's the community that governs and operates the social network, through its DAO and foundation. Any holder of SCF token can vote on-chain for the future decisions of the social network.
* This doesn’t mean that all type of content is allowed, even if nudity is permitted, some type of content is not a question of freedom of speech and is simply illegal, everywhere (like child-porn, nazi posts, or terrorism) and will be moderated by the community.

## Mission and Vision <a href="#mission-and-vision" id="mission-and-vision"></a>

Our primary goal is to create a more open, inclusive social network that promotes freedom of speech and helps citizens voice their opinions in a civil way, without government interference or fear of being banned or prosecuted.

Our second main goal is to raise global economic prosperity, allowing anyone to unlock growth through the transformative potential of crypto. Permitting users to monetize their content, their value-add, irrespective of their talents by tokenizing their social capital. It's a new economic model that allows anyone to become a business.<br>


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