CardStarter IDO Partnership & SoMee Platform Tokenomics
CardStarter and GenShards in collaboration with SoMee.social will be launching an IDO to support the release of SAT, SoMee Advertising Token that users will be able to purchase at $.005 during the IDO. All SAT will be distributed immediately upon purchase yet locked until a UniSwap release is launched 30 days after the IDO. Until then, the only way to get more SAT will be by staking the SoMee ONG token via a special yield farming contract.
NOTE: We will post the authorized contract address for SAT and SAT Yield Farming on our official channels. Please be cautious of imposters and scams and always verify the authorized contract address.
IDO proceeds will go to support a SoMee integration onto the Cardano blockchain and a custom CardStarter IDO integration that SoMee will release in the SoMee app and web platform once complete.
“SoMee is honored to be selected for and participate in the CardStarter Acceleration (CAP) Program. The CAP program is the first and only insured project accelerator for Cardano that protects donors against project failure, so the fact that our community has that extra assurance is significant.
– Christopher Kramer, President & CEO — SoMee
Cardano Blockchain Integration
The Cardano custom blockchain integration will provide the SoMee Community with many benefits, including reduced gas fees, unique meta data features that will improve privacy, data control and allow users to leverage that control (and SAT) toward monetization of specific data points in SoMee’s Ad-Share system.
Ad-Share allows brands to purchase SAT, then advertise and target during a campaign using geographic and demographic targeting methods as they normally would, yet also allows advertisers to enable a setting whereby their target audience can target them back.
Users who choose to participate can share custom data points that bring significant value to brands and advertisers that will maximize the success during an advertising campaign. The entire system runs on SAT which will drive value to all participants of the Ad-Share system that includes brands, end users and influencers.
Once the Cardano integration is complete (and after the Alonzo fork goes live) an ADA token contract will be released separately for the existing SAT token that will be auto bridged to the Cardano mainnet utilizing the CardStarter’s bridge feature.
Existing holders of SoMee Points will receive a portion of their bonus in SAT and will have the option to liquidity mine if they want more prior to the UniSwap release.
Those who choose to continue to accumulate and “stack SATs” beyond the UniSwap release will have the opportunity to participate in the SAT ELITE PROGRAM, which will include special brand campaign interactions that incorporate higher levels of monetization and special perks during brand interaction. As more brand advertisers enter the SoMee ecosystem we expect the SAT Elite program to grow in popularity for both users and brands.
CardStarter IDO Integration
The custom CardStarter IDO integration on SoMee once completed will allow SoMee to advertise CardStarter’s future IDOs directly from within the app and allow users who choose to interact with crypto based ad content to participate and choose to boost the IDO campaigns they want to support.
“A partnership with SoMee is the right step in our mission to increase public engagement with early stage Cardano innovators. The scalability and agility of the Cardano network will power SoMee’s social media hub thus increasing user adoption and engagement for both parties. Through CardStarter, SoMee will be well poised to assume the first mover role of bringing social media connectivity to the Cardano ecosystem.” — Aatash Amir, CEO CardStarter.
CardStarter is the first Incubator, Launchpad and Insurance program for projects being built on the Cardano network. The CARDS platform is a unique and dynamic launchpad, connecting projects to early investors and a network of key partners. The Cards Accelerator Program (CAP) team works with each project individually to establish the right connections and map marketing strategies, establishing the foundation for long term success.
CardStarter is also differentiated by its charge to protect its supporters. CARDS provides unbiased third-party audits of every project’s code and protects IDO participants’ investments with an in-house insurance program. CardStarter is proudly partnered with X21 Digital, BlockSync Ventures, Moonwhale Ventures, Genesis Shards, Plethori, Fractal, PARSIQ, Scryptic Tech, Orion Protocol and Longtail Financial. Once fully built, CardStarter will be an all-inclusive platform with a decentralized exchange to complement the current offerings. CardStarter also aims to be a nurturing force in the Cardano ecosystem, with hackathons and project development support being a major focus of the roadmap.
SoMee Social is a platform that prioritizes user privacy and autonomy. Strong incentives are built in to encourage user interactions and quality content with the goal of cultivating a cohesive community building. SoMee Social provides several avenues for earning rewards, starting with content monetization, and reward earning options for active participation in the community or for sharing your data if you choose to do so. SoMee Social is a blockchain based platform governed by the existing $ONG token and an advertising system powered by the $SAT token. The SoMee.Social platform is developed by SoMee Global Inc. and recently announced incorporation of Social DeFi and Social NFT into the platform.
SoMee Platform Tokenomics
After the release of the $SAT — SoMee Advertising Token there will be a release of another token (Mint ONLY — no IDO) to be announced (TBA) that will now support all content & curation rewards. To clear up any confusion let me explain how it will work.
The previous beta platform paid content and curation rewards in a 3-way split - SoMee Points, G-Fuel and G-Bucks. The new system will no longer pay a 3-way split for content and curation rewards and will pay only in SoMee Points that can be immediately cashed out via our Skrill partnership for fiat of choice (USD, Euro, etc.), or loaded onto a debit card to spend in the real world.
Soon, the new content and curation token (TBA) that will be released is the ONLY token that will be used for powering up on the SoMee platform, but when powering down all payments by default will be made in SoMee Points that are immediately available for cash out Via Skrill.
NOTE: For those who cannot utilize Skrill or who want to cash out to the new “TBA” token we are looking into it to see if we can offer them a special, off site, smart contract that will handle this. We are investigating if this would impact our partnership with Skrill as there are strict requirements in place that allow SoMee to offer the immediate cash out to fiat option VIA Skrill that must be followed. We will keep you posted as we know more…
Our Promise: One of our core values is the value of “choice” and we want to add options that meet the needs, wants or desires of our community giving them the ability to do things how and in the method they want to and will always do our best to perform according to these core values.
$SAT will replace G-Bucks as the advertising based token, but will be the ONLY token used for advertisers to pay for their campaign. Also, influencers will need $SAT to participate in the $SAT Elite campaigns that offer higher monetization amounts and special perks. This will drive significant utility for $SAT and create more demand for “stacking SATs” as the platform expands advertising and increases the amount of influencers participating in these campaigns.
Payout to influencers and general users participating in the Ad-Share program who earn commission will by default be paid in SoMee Points that are immediately available for cashout VIA Skrill. For those who cannot utilize Skrill see the “NOTE” above and know we are looking at other options.
What about ONG?
The SoMee “ONG” token is here to stay and among other things will be used as governance, staking and future yield farming. ONG is an acronym for our parent corporation, OneName Global, so will remain as a long standing reminder of how this initial token connected our our mission of achieving more together. With that said, we plan to continue to always incorporate new utility, governance and use cases for the “OG”, ONG token ;-)