Victoria, Seychelles, October 16, 2023 (GLOBE NEWSWIRE) — In October 2023, the cryptocurrency trading platform QKEx announced through its community that it would invest more energy and financial support in the decentralized social field and create an “exchange + community economy” ecosystem to realize the linking of user community behaviors and the financialization of social ecosystem.
QKEx is not the first project to propose the concept of social economy, as many projects of decentralized social concepts have had some success.
On August 10, 2023, Friend.tech, a SocialFi protocol based on the BASE chain, was officially launched, and no one could have expected that in just 12 days, Friend.tech attracted almost 100,000 users, with more than 363,300 ETH. , or approximately $62.2 million, in capital inflows.
On August 22 alone, Friend.tech alone created nearly 2,000 ETH in protocol fees, becoming the second highest fee-generating platform in the entire network that day, just behind Ethereum . It’s the nature of investors to chase the ups and downs, and the huge capital effect generated by Friend.tech has sent countless users rushing to try to catch up with the SocialFi craze.
A new social outlet
Data shows that in 2022, the number of online social media users worldwide has exceeded 4.5 billion, accounting for approximately 70% of the total global population. When the crypto track is combined with the social field, it can burst into a huge capital and user effect, bringing a stronger topic and wealth creation effect for crypto products.
At present, decentralized social networks have shown strong power in attracting money to the market, and Friend.tech and Tipcoin are among the leaders. With the emergence of popular applications in the social sector and the popularity of Friend Tech has remained high, even Friend Tech’s imitation record has attracted many users. Many people describe the current social sector as having experienced the explosion of DeFi in late 2020. Trends, social economy also seems to be becoming a new trend in the cryo industry.
Exchange + Community Economy
It is undeniable that social products are one of the most valuable application scenarios in the Internet ecosystem. However, in essence, Friend.tech and Tipcoin are not “decentralized social networks” in the true sense, and they basically do not have “social scenarios” or “social needs”.
The gameplay of Friend.tech and Tipcoin is more like “play to win” in the on-chain trick, you have to rely on a constant flow of traffic to keep the heat going, but we all know that the enthusiasm of the market and the funds of the users are not a cornucopia. Decentralized social networks want to achieve long-term development which requires application scenarios capable of retaining users.
In contrast, the core value of the entire decentralized social domain lies more in the community economy, that is, the exchange of private domain traffic, the mutual exchange of assets and the dissemination of knowledge . These are all elements that can create traffic scenarios and behavioral economies. But the question is how to transform community behavior into a social economy?
QKEx Exchange seems to have given the answer. At present, QKEx first proposed the concept of community economic ecology, that is, realizing the financialization of community behavior and profitability of social value, that is, creating a COMMUNALFI ecology capable of restoring the entire community chain system.
QKEx, known as QK Exchange, is a global crypto-asset comprehensive service platform independently developed by QK Group in 2020, which created a unified trading account and trading system and can provide multi-industry businesses such as Spot contracts, contracts, financing. , Extracting HashRate.
Its parent company QK Group’s business covers QK Mining, QK Hot and Cold Wallet, risk control and other business segments, among which QK Mining Center provided transaction processing and verification of the QK ecosystem. cryptocurrency and derivatives mining services to clients in many countries around the world. . , comprehensive custody and overall operation and other mining-related services, and successfully won the honor of “Best International Service Provider for Russian Mining” in 2017.
The biggest difference between the QKEX exchange and other exchanges currently on the market is that the platform offers the new concept of CommunalFI for the first time in the industry. The platform advocates the implementation of an on-chain community behavioral economy and creates a decentralized community economy and business ecology.
It is worth noting that QKEX has very rich regional crypto resources around the world and currently has independent operation centers in the United States, Canada, Russia, Australia, Estonia, Indonesia, Thailand and in other countries, which means QKEX community resources are spread almost everywhere. around the world, enabling the large-scale implementation of decentralized social networks.
Saving community behavior
Of course, although QKEX already has sufficient community resources and financial strength, it is not simple to realize the on-chain community behavioral economy and create a decentralized community economy and business ecology. It is understood that QKEX is currently targeting the community. The economic sector has developed a two-step plan:
Step 1: Add an independent social section and invite a large number of business communities to join it.
In order to encourage more communities to join the QKEX trading ecosystem, the platform will launch various community competitions from time to time and display monthly rankings of communities on the exchange. The higher the community ranking, the higher the value of its team leader’s rights.
At the same time, in order to encourage users to participate in community ecological construction, QKEX will implement user behavior economics. When users perform all social behaviors on the QKEX Community Map, including but not limited to chat, post, comment, like, forward, reward, etc., they can earn a corresponding value return.
Step 2: Launch the COMMUNALFI functional section
This feature will allow community team leaders to issue personal rights based on their own social value. The rights will be displayed as limited NFTs. Once issued, the community leader’s interests will be automatically set aside in the commercial market, and users can obtain community access qualifications by purchasing the community leader’s interests in the form of NFT.
QKEx is the first trading platform in the industry to offer the concept of COMMUNALFI. Its platform aims to expand the future value and development space of the combination of stock exchanges and community economies, and become a pioneer in the new generation of business and community platforms.
Disclaimer: The information provided in this press release does not constitute an investment solicitation nor is it intended to constitute investment advice, financial advice or trading advice. It is strongly recommended that you conduct due diligence (including consultation with a professional financial advisor) before investing in or trading any securities and cryptocurrencies.