# Introduction to OpenSocial Protocol
## **Key highlights** * SocialFi is the overlooked category that has a high potential to surpass GameFi and become the largest consumer use case for mass adoption in Web3. * Our design thinking is unique and unlike any other - first of all, we believe social is a layer and not media. We don’t shy away from what is emotionally captivating at the same time financially rewarding social experiences enabled by blockchain. We incorporate fun and degen mechanics, fused with true ownership and multiple layers of incentives. * We adopted modular design for SocialFi to support creators to create codelessly. Capable to deploy across different virtual machines (e.g. EVM and SVM) as a horizontal enablement layer, OpenSocial is building the future multi-chain social economy. Supported by ready to launch flagship dApps (SoMon and Zeek) with a strong pipeline of dApps and working closely with developer community to build a thriving and flourishing OpenSocial ecosystem. * Built by Everest Ventures Group, a leading venture building group in Asia, with a strong publishing record and wide distribution network in Asian / emerging markets, a team with extensive experience in building consumer products in Web2 and Web3. Former lead advisor / key contributor to consumer unicorns like Animoca Brands, Dapper Labs and The Sandbox. ## **Why SocialFi?** * **Social will be the 2nd largest consumer use case after GameFi this cycle and has the potential to surpass GameFi as the biggest driver for Web3 adoption ultimately**. This development is highly aligned with the evolution of internet's use cases. Social wasn’t a core use case in the first 6 years of consumer internet (1997 to 2003 was dominated by marketplaces like eBay and Amazon, portals like MSN and Yahoo and the first wave of Games). All the social giants today like Facebook, YouTube, Linkedin, Twitter were all born in the 2nd phase post [dot.com](http://dot.com/) bubble (2004 to 2010) due to lower costs and growing adoption. This pattern is similar in Web 3. Many SocialFi projects couldn't achieve their full potential due to the readiness of technology and users. However, it is now well positioned to take off following GameFi as another major use case. * But unlike GameFi, **there isn't a clear market leader / behemoth in the entire SocialFi category yet.** Only a few players managed to survive the bear market, e.g. Farcaster (220k users), Cyberconnect (129k users), Lens (240k users). In Q2 2023, we decided to make SocialFi the core focus of EVG and started contemplating dApps. We soon realised that most of the generic solutions out there didn't meet our requirements and we would have to build the infrastructure just like Amazon's AWS and ByteDance's Volcano Engine. We stacked some of our best people into architecting OpenSocial Protocol to offer the best data, tooling and financial layer with a couple internal teams building dApps on top as its design partners. **Our vision is to ultimately enable the largest multi-chain social economy.** ## **Core design thinking** * There are some fundamental differences in thinking we observed after deep diving into other Web3 social related infrastructures. * First, we think “**social is a layer and not media**”. In the West, social networks are mostly a media business. In Asia, we are a mobile first region. Our day to day lives are driven by all kinds of social apps - it is embedded into our habits and mindset. What we learned from Asia is that social is a lot more powerful when it's an enabling layer weaved into other use cases (e.g commerce, fintech, gaming, utilities). WeChat is a fantastic example of that. * Second, we ain’t interested in building an inferior version of Twitter and wrap them with a token. These broadcasting based products are so hard to create that even Facebook who has 2 billion plus users failed in building Thread. The entire Web3 population combined isn't sufficient in creating a Twitter alternative. Our learnings is that **it's easier to create a strong flywheel by building for a specific vertical or interests** as you don't need billions of users to be a meaningful community (e.g. Weverse for Kpop, Hypebeast for streetwear, 9gag for memes, Huxiu for sports, Douban for movies, Bilibili for anime, Snowball for investment, Vivino for wines). * Third, many SocialFi projects tried hiding their financial nature in the past and that’s often wrong. “Censorship resistance, privacy, data sharing, fully on-chain contents” are buzzwords most projects put forward, but they don’t motivate and sustain adoptions. **Offering a emotionally captivating and financially rewarding social experience however is more interesting.** There is nothing wrong getting a front-and-center dopamine hit both emotionally and financially. Users come to Web3 for something different, not marginally better. * Fourth, to be the best consumer infrastructure isn’t about building the most powerful machine (not a tech problem). It’s about being the most useful machine. **We opted to build a lego-like, modular design enabling dApp developers / creators to assemble experience quickly and economically.** Wix and Canva are great examples. Their coddles design ain’t the most powerful but certainly better for enabling adoption. If you look at mega social players from the East such as ByteDance, they also tear down the building blocks into legos (i.e all the way down to the algorithm that ranks videos) and assemble them in various forms to test the market. That is why we create tooling layers so that our ecosystem companies, partners and external developers can spin up social dApps without having to reinvent the wheel. * Fifth, launching as an AppChain / L2 / L3 on our own may be a better capital market narrative, but being **a horizontal enablement layer allows us to partner with multiple chains and garner much bigger users and developer base** (i.e the example of Kakao vertically dominating Korea versus Facebook having users across countries). Being an Altlayer or EigenLayer for SocialFi is better aligned with our vision than being a chain on our own. Our vision is ultimately for a SocialFi dApp to publish on multiple chains with very little marginal costs and all supported by OpenSocial. * Lastly, **first mover advantage is often overrated in consumer infrastructure**. MySpace and ICQ are great examples. Getting it right is more important. We have a clear roadmap guided by first principle thinking and is backed by the entire EVG ecosystem (2m+ users across products, 200+ in-house R\&D, 200+ investments into projects and funds, 200m+ principal assets, 200m+ AUM). **The advantages of being in APAC is also massive** - the learnings and talents from social super-apps, the lower CAC of acquiring users, the more economical and scalable development team. ### # Core Differentiation
1. **Monolithic vs Modular:** Incumbents like Farcaster and Lens are large and monolithic, limiting scalability and overall user experience. We take a different approach to enable creators to build however they want through **unbundling** the data and functionalities to enable greater flexibility and customization for builders. We can and we will iterate faster and grow faster. 2. **Social Graph as a Service:** While OpenSocial acts as the execution layer for users to interact with dApps, OpenSocial accumulates value from the on-chain and interoperable social data and social graphs created. We essentially become the go-to social data layer provider for builders, **providing Social Graph as a Service** (including users vs communities), while unlocking the value stored in these social graphs and supporting the growth of social and consumer dApps. 3. **Level playing field for everyone to build and own:** For the average creator who doesn’t have a sizable budget and technical abilities, OpenSocial gives everyone equal opportunity to start their own dApp through **codeless deployment of essential social modules** to set up the fundamental social features. We provide scaling solutions through plugins (think of it like upgraded Frames) to support in-App sustainable utilities, from asset issuance, DeFi, gaming to even on-chain charity. In the process enabling novel monetization avenues by facilitating and embedding asset issuance within the social experience, marking a new era of **true ownership of social assets,** transferable and tradable on open marketplaces. 4. **Multi-layer incentives with value accrual flowing to OpenSocial as main network:** Protocol revenue generation mechanisms, e.g. Megaphone (ad revenue), OSP X marketplace (trading fee), bounty and rebates (membership and subscription) naturally generates value to the OpenSocial network and token. But we envision OpenSocial as a multi-chain SocialFi protocol - we don’t want to restrict builders from choosing which chain best suits the product needs - ultimately, any dApp that uses and transacts on the protocol will need to settle via OpenSocial ensuring **value generated across chains are always accrued to the OpenSocial network**. Backed by a sustainable tokenomics design with various mechanisms including staking to incentivize user engagement and referrals, rights to participate in content curation and moderation, and to encourage dApps to grow the network, e.g. earn yield based on the traffic brought to OpenSocial. 5. **Multi-chain deployment for SocialFi** * We will deploy on EVM-compatible chains first. Our flagship dApp [SoMon](https://www.social.monster/) to deploy on Base given the existing social user base that we can attract from Farcaster/Warpcast and Friend.tech, while the other flagship dApp [Deek](https://www.deek.network/) to deploy on Berachain. We have also deployed on opBNB with our third dApp [BreadnButter](https://www.breadnbutter.fun/). * We also plan to deploy on Solana given the large retail community, activity and attention that we can capture. * Later on, we will support other dApps to deploy on other chains that best fit their needs.
# Technical Architechture ### Wallet Seamless onboarding through social logins and AA wallet with prepaid gas credit for gasless transactions.
### Data module Social Graph (individual and community social graphs) and Social Activities (e.g. posts, like, comments and share).
### Tooling Social Modules: Build customized social experiences of dApps, e.g. feed, chat room, announcements, comments, reactions
### Plugins Grow and monetize, e.g. token issuance, trivia, betting, voting
### Monetization * Megaphone (ad revenue) * Marketplace * Bounty * Rebate (Membership and Tribe subscription) ### Data availability layer OrbitDB + IPFS
# Features Features The purpose of OpenSocial Protocol is to: 1. Allow users to own their social graph, such that they could travel to different applications without the need to start from scratch to build their reputation and followings 2. Empower Creators to build and own their community, so that they could monetize easily 3. Reduce the barriers to entry for any developers to build a social application, by providing templates and open sourced social graph for developers to build on 4. Promote freedom of speech, decentralisation and censorship resistance for users and content through making the protocol permissionless and on-chain storage of data # OpenSocial Account In the Web3 world, an account is usually created based on a unique wallet address. However, there are a lot of limitations in using a normal wallet. To improve user experience, OpenSocial adopts the latest blockchain technology [Account Abstraction (ERC-4337)](https://eips.ethereum.org/EIPS/eip-4337), which enables wallets to function like smart contracts. AA wallets enable multi-chain transactions and are much more user-friendly in comparison because no seed phrase is required. AA wallets act like a wallet except for the fact that it cannot sign transactions and has to be controlled by an Externally Owned Account (EOA, i.e. the normal wallet). Hence, the OpenSocial Account created is the AA wallet that will interact with all the smart contracts within the protocol. It will require an EOA to bind and control the OpenSocial Account, which is also known as the “Signer”. Once binded with an EOA, the OpenSocial account (i.e. AA wallet) will have the following functions: * Deposit and withdraw * Interact with OpenSocial smart contracts * Store and transact social assets (e.g. Tribe NFT, Membership NFT etc.) * Claim rewards within OpenSocial ecosystem Since the EOA is required for setting up an OpenSocial Account, this may be difficult for a Web2 user. Therefore, we have provided social logins and email accounts (e.g. Facebook, Twitter, Gmail) which will create an EOA wallet address that users can bind to their OpenSocial Account (i.e. AA wallet). OpenSocial provides a low-friction and seamless onboarding process since users can rely on existing social logins without creating a wallet before entering the OpenSocial ecosystem. Please note the OpenSocial Account is only limited to the OpenSocial ecosystem.
# Gas Credit One of the major obstacles faced by Web3 users is the incompatibility between different chains. Experienced Web3 users are familiar with keeping certain native tokens such as ETH, OKB for gas fee purposes. However, this can be confusing and inconvenient for inexperienced Web3 and Web2 users. The Gas Account solves this problem with the paymaster function in account abstraction (ERC-4337). As a result, OpenSocial users can top-up gas credit from any of the supporting EVM chains and not need to concern themselves with acquiring native tokens for their corresponding social assets. The paymaster function also enables third parties, such as any web3 dApp or OpenSocial as the underlying protocol to pay gas fees on users’ behalf. **Supported EVM chains** * Base: * Xlayer: # Gas Account Gas Account is used to pay gas fees within the OpenSocial ecosystem. Gas fees are deducted from the Gas Account instead of the OpenSocial Account. The minimum top-up amount to the Gas Account is approximately 10 USD and will be exchanged into USD in real time and recorded in the Gas Account. Users are not allowed to withdraw from the Gas Account. **Method 1: Crypto**\ OpenSocial supports native tokens from each of the supported EVM compatible chains and also stablecoins, USDT and USDC. For every transaction in the OpenSocial Account, gas fees will be deducted from the Gas Account by default. If there is insufficient balance, a message will pop up from the OSP Account displaying the corresponding native token of the chain that is required. **Method 2: Fiat**\ In the future, OpenSocial will support different fiat on-ramp methods, such as credit cards for topping-up the Gas Account and OpenSocial Account. # Social Graph At OpenSocial, there are two types of social graphs available: an individual’s social graph and a community’s social graph. #### Individual Network The social graph of an individual consists of the user and the user’s connections with other users. This concludes * [Profile SBT (ERC-721)](/features/social-graph/profile) * [Follow NFT (ERC-721）](/features/social-graph/follow) #### Community Network The social graph of a community consists of the community created by content creators and their followers. * [Create Tribe (ERC-721)](/features/social-graph/create-tribe) * [Join Tribe (ERC-721)](/features/social-graph/join-tribe)

# Profile Profile SBT (ERC-721) Each user creates a non-transferrable Profile Soulbound Token (ERC-721) on the OpenSocial protocol. Individual wallet addresses own Profile SBTs. The Probile SBT records the number of on-chain social actions. Users own their social graph and on-chain content and reactions through ownership of the Profile SBT. # Follow Follow NFT (ERC-721) Users can follow Profiles on the OpenSocial Protocol. A Follow NFT (ERC-721) will be minted each time to the new follower. The owner of the Profile being followed can set certain follow conditions. For users who do not meet these conditions, they can only view, but will not be able to follow that Profile. # Create Tribe Create Tribe (ERC-721) When a content creator creates a community (also known as a Tribe) on OpenSocial Protocol, a Tribe NFT (ERC-721） will be minted. The Tribe NFT will also serve as verification of ownership, and govern the permitted uses of the Tribe NFT, its transferability and how value created from the Tribe can be monetized such as receiving rewards from engagement on the Megaphone channel or receiving user payments.
Tribe NFTs are tradable social assets and the ownership of a Tribe NFT can be transferred via marketplace transactions.
# Join Tribe Join Tribe NFT (ERC-721) OpenSocial users can surf around and join different Tribes. A Join NFT (ERC-721) will be minted every time the user joins a Tribe, which will be recorded in the user’s social graph. Due to account abstraction (ERC-4337), the minting and gas fee can be paid by third parties on the user’s behalf.
# Social Actions #### OpenActions OpenActions consist of social actions where users create content stored on-chain. The types of on-chain content include: * Text format: Create a text post * Image format: Post an image or a set of images (gallery) * Audio format: Post an audio clip * Video format: Post a video clip * Livestream format: Post a livestream video * File format: Post and share files * Poll and vote format: Create polls and vote in a post * Open Link: Refer to section on Plugins - Open Link. #### OpenReactions OpenReactions refer to on-chain users’ reactions to OpenAction content. The types of on-chain reactions include: * React: Users can “React” to any OpenAction content, Comment and Reply, such as “like” or other emoji reactions. * Comment: Users can leave a “Comment” on any OpenAction content. * Reply: Users can “Reply” to any Comment on OpenAction content. * Share: Users can “Share” any OpenAction content with other OpenSocial users. * Upvote and Downvote: Users can vote on OpenAction content by giving an “Upvote” or “Downvote”. #### Off-chain Activities Off-chain Activities consist of the same types of content and reactions available in OpenActions and OpenReactions, except they are stored off-chain. #### On-chain / Off-chain OpenSocial provides Web3 dApps with the flexibility to store content created and reactions by users either on-chain (i.e. OpenActions and OpenReactions) or off-chain (Off-chain Activities). All Off-chain Activities are stored under decentralised storage system like IPFS or OrbitDB. Web3 dApps can freely decide whether to store content on-chain or off-chain and subsequent reaction on-chain or off-chain.
# Social Modules Web3 dApps built on OpenSocial can customise user experience through codeless deployment of Social Modules, which are building blocks containing different functionality and features. Unlike Plugin NFTs which can be purchased, Social Modules are not available for purchase. By creating different combinations of Social Modules, developers can design different templates that can be used by different Web3 dApps. Tribe owners can also further customise their Tribes by using different Social Modules. 1. Feed: View OpenAction, OpenReaction and/or Off-chain Activities in a Profile feed 2. Chat Room: All OpenSocial participants can interact with each other in a chat room 3. Announcement: Latest information and updates can be provided in an announcement section 4. Comments and Reactions: Users can comment and reply and react to content (e.g. like, share, upvote and downvote) 5. Mentions: Mentions other users, Tribes or Tribe owners in your content 6. Hashtags: Hashtags enabling cross-reference content by topics, themes or trends # Data Availability “Not all data should be broadcasted to the blockchain, but we need to ensure that all the data are decentralised and can be verified.” This is the core principle of OpenSocial’s Data Availability solution, which is a hybrid server of Ethereum JS and Orbit DB. It seems to make sense to record posts, likes, comments on-chain since they are all social actions of a user. However, in reality, the vast amount of social action and engagement may cause a lot of trouble to the blockchain and user experience. For instance, there may be fifty thousand likes and seven thousand comments or replies of comments just within one post. If all the social actions have to be broadcasted into the blockchain, it will cause three major problems: 1. Huge latency as the chain cannot process such large amount of transactions 2. Bad user experience as the user will need to sign every social action as a transaction to be broadcasted onto the blockchain 3. High cost as gas fee is required for every transaction on the chain Therefore, OpenSocial’s Data Availability solution is aimed to solve the problems above without undermining the authenticity of the social data. Depending on the properties of the social data, some of them will be broadcasted to the blockchain, while some will be stored in a decentralised server (i.e. Orbit DB). Please be assured that whether the data is stored on-chain or in a decentralised server, all the data in OpenSocial’s Data Availability is transparent, public and owned by the OpenSocial user. For data stored in Orbit DB, there will be an Explorer page for verification and searching. It is an essential solution for scaling and to accommodate millions of users.
### Protocol layer DA stands for Data Availability, which means where the data is stored and how it can be reached under different situations. Ideally, it should be accessed safely, easily and cost effectively with no latency. Therefore, our DA is a hybrid of on-chain & off-chain data: [EthereumJS](https://github.com/ethereumjs) and [OrbitDB](https://github.com/orbitdb/orbitdb). Data that goes on-chain will be stored in EthereumJS. It is nearly perfect as it is immutable (decentralised servers) and can be easily accessed. However, it may incur high costs and latency when the amount of data exceeds its limit. Hence, data that does not go on-chain will be stored in OrbitDB. It is a decentralised server so the data is safe without any latency, meaning it can be queried in real time in the Explorer page. Through this process, we aim to build a standard DA that can unify on-chain and off-chain data, so that not only on-chain data can be verified, but also data stored in OrbitDB is valid and can be verified. ### DA Mechanism #### On-chain (EthereumJS) Sync transactions under OpenSocial Protocol to OpenSocial DA #### Off-chain (OrbitDB) The mechanism is basically a simulation of an on-chain transaction and stores the data in OrbitDB. 1. Ensuring identical result by simulating the same transaction in the same block 2. Ensuring identical result by different nodes in OrbitDB 3. Off-chain content ID * uint256 = Random first 128 decimal + content ID 128 decimal = Off-chain ID 4. LevelDB query * Search based on Off-chain TxID (Entry: offchainId) * Search based on user (Entry: address + time) * Off-chain slot to store value (ensuring off-chain Tx works) * Signature as boolean, avoiding duplicate transactions (same mechanism as EVM) 5. Interoperability between on-chain & off-chain * Posting a post (off-chain) * Off-chain engagement on an On-chain post * Off-chain engagement on an Off-chain post All social action stated above will be recorded as an unique transaction, which will be recorded in IPFS and create a query. * chainProofs contains the value + sig in typeData, representing the input of the contract. * Logs represent the output of the contract. * blockNumber represents the block simulated at that time stamp. The corresponding key & sig is equivalent to the public key and signature in OrbitDB nodes, which can be verified by other nodes for the data authenticity.
#### [OrbitDB](https://github.com/orbitdb/orbitdb) OrbitDB is a serverless, distributed, peer-to-peer database. OrbitDB uses [IPFS](https://ipfs.tech/) as its data storage and [Libp2p Pubsub](https://docs.libp2p.io/concepts/pubsub/overview/) to automatically sync databases with peers. It's an eventually consistent database that uses [Merkle-CRDTs](https://arxiv.org/abs/2004.00107) for conflict-free database writes and merges making OrbitDB an excellent choice for p2p and decentralised apps, blockchain applications and [local-first](https://www.inkandswitch.com/local-first/) web applications. #### [EthereumJS](https://github.com/ethereumjs) EthereumJS is the JavaScript / TypeScript project within the Ethereum Foundation. Work is mainly done within the following GitHub organisation:
# Megaphone Megaphone is a global on-chain channel available to all OpenSocial users. All posts on Megaphone are on-chain and broadcasted to the blockchain through smart contracts. It functions similar to Google Adsense allowing ad publishers to target promotions to relevant Tribes. All Tribes will have a Megaphone section in their user interface where Tribe users are able to engage to earn rewards. Ad publishers can choose tags and let Tribe users engage. All stakeholders including Tribe owners, users and OpenSocial will be rewarded fairly and play an important role in the value creation and sustainability of the OpenSocial ecosystem.

Megaphone Mechanics

### Mechanism Once the ad publisher has published a Megaphone post, a Megaphone ID will be created which will be broadcasted into the Megaphone channel. Since each Tribe has specific tags, the Sower is able to map the chosen tags by ad publisher to specific Tribes. For each Tribe mapped by the tags, a “seed” link will be generated. Then, the seed will be deployed to the OpenSocial mainnet so that the post will appear in the Megaphone section of these specific Tribes. Tribe users can then engage with the Megaphone post to earn rewards. While the Megaphone post is on-chain, engagement with the post can be either on-chain or off-chain. In this mechanism, the ad publisher spends money/tokens for promotion purposes. Then, the spending will be distributed to all parties involved, including OpenSocial, the owner of the Tribe where the Megaphone post is displayed and Tribe users who engage with the post. The more users engage with the Megaphone post, the more earnings the Tribe owner will receive. There will be 3 ad types at the beginning, more to come: 1. Engagements 2. Call to action : Follow 3. Call to action : Join Tribe During the testing phase, we will first refer to Web2 advertising platforms and price based on 1 CPM = $5 USD. Once the user base grows, we will gradually transition to a dynamic pricing model. ### Reward Distribution Mechanics In contrast to Web2 advertisers taking all of the advertising fees, we hope that advertising fees can be distributed more reasonably to developers, tribe owners/mods, users, and the OpenSocial Team itself. The current plan we have set before going online is as follows: * OpenSocial team: 20% * Developer (dApp team):20% * Tribe Owner/mods and Users: 60% Most rewards will be distributed to the community and users, with tribe owner and mods having the discretion to determine the allocation ratio of advertising revenue. # Plugins Tribe owners can further customise their Tribe by including additional functions through the use of Plugins, such as issuing tokens, bounty, predictions, trivia, investment, membership and DAO tools. Tribe owners purchase Plugin NFTs providing the licence to use such Plugins. In addition, Plugin NFTs bought by the Tribe owner are attached to the Tribe NFT. If the Tribe NFT ownership is transferred, the corresponding licence to use such Plugins will also be transferred. Plugin NFTs are supported by ERC-1155 ### Open Link \ Developers are welcome to build different Plugins and can derive earnings based on usage by Tribe owners. Plugins used on third party Web3 dApps can be connected and made available to the OpenSocial protocol through OpenLink, which will share the Plugin to the OpenSocial protocol via an on-chain post.
# Tokenomics ### What is OpenSocial Token? Multi-layer incentives across dApp and OpenSocial protocol level * Social value users create on the dApps earn multiple incentives simultaneously within the dApp and OpenSocial protocol level. * Dapps having their own tokens provide the first layer of incentive, which also enhances user adoption, retention and flywheel in the broader OpenSocial ecosystem. At the same time, social engagement on dApp is also counted towards OpenSocial credit leading to the second layer of earnings of token -this system of double incentives creates a larger ecosystem “GDP” that lures dApps and users to build on OpenSocial. Over time, the market cap expansion of dApps will also solidify OpenSocial’s market cap. * Expected TGE: TBD ### Token Allocation | Investors | 20% across seed, private, influencers and community sales | | -------------- | --------------------------------------------------------- | | Team & Advisor | 20% across team and advisors | | Ecosystem | 60% across ecosystem, staking rewards, airdrops & others | ### Utility The token is the native token of OpenSocial Protocol with the following utilities: 1. Staking 2. Rewards: 3. Gas credit via AA wallets 4. Megaphone 5. Tipping and donating to KOLs/influencers 6. Tribe owners can use token to upgrade their tribes 7. Purchase Social Assets such as Tribe NFTs, Shares, and Membership 8. Curation: Access to participate content curation 9. Governance: Principal token for voting on future protocol and ecosystem development ### Main Revenue Model The main revenue model for OpenSocial includes * OpenSocial Membership * Revenue share from Tribe subscription (For private content and tribes) * Fees received from Tribe Upgrades * Megaphone: revenue share from publishing fees * Plugins * Trading commission from the marketplace ### Key revenue drivers across OpenSocial’s lifecycle are as follows: * Short-term: OpenSocial membership, tribe subscription * Medium-term: Revenue share from Megaphone publishing fees, Plugins * Long-term: Megaphone + Trading commission from OpenSocial marketplace # FAQ Frequently Asked Questions about Open Social Protocol #### [What is OpenSocial Protocol (OSP)?](/faq/what-is-opensocial-protocol-osp) #### [Why has OpenSocial Protocol been built?](/faq/why-has-opensocial-protocol-been-built) #### [Which apps are using OpenSocial Protocol?](#which-apps-are-using-open-social-protocol) #### [What can I build with OpenSocial Protocol?](/faq/what-can-i-build-with-opensocial-protocol) #### [I want to build with OpenSocial, but what if my users aren't on-chain?](#i-want-to-build-with-open-social-but-what-if-my-users-arent-on-chain) #### [How to monetize on OpenSocial?](/faq/how-to-monetize-on-opensocial) #### [Who is building OpenSocial?](/faq/who-is-building-opensocial) #### [On which chain is OpenSocial Protocol available?](/faq/on-which-chain-is-opensocial-protocol-available) # What is OpenSocial Protocol (OSP)? [OpenSocial](https://www.opensocial.co/) Protocol is a multichain SocialFi infrastructure empowering developers and creators to effortlessly build social dApps. Leveraging its robust social graph and modular design, OpenSocial enables transparent content promotion to specific user groups, ensuring fair value distribution among all stakeholders. OpenSocial offers the best data, tooling, and financial layer and its vision is to enable the largest multi-chain social ecosystem. # Why has OpenSocial Protocol been built? Unlike Web3 social media platform, [OpenSocial Protocol](https://www.opensocial.co/) leverages from Web3 technology to allow users to **fully** own their social graph and content, and transport it from one dApp to the other, bringing them more accessibility, freedom and flexibility. For developers and creators, [OpenSocial Protocol](https://www.opensocial.co/) lowers barriers to social app development and saves significant amounts of time and money to set up a platform from scratch. # Which apps are using OpenSocial Protocol? Various platforms and SocialFi use cases powered by OpenSocial that are soon to launch. They include [SoMon (Social Monster)](https://www.social.monster/), a Web3 forum where communities can be formed and discuss around topics, and [Deek](https://www.deek.network/), a decentralized collaboration network where users can participate in bounties, leveraging their network. # What can I build with OpenSocial Protocol? Developers can launch dApps quickly and the way they prefer it, with set modules and other plugins. These modules include feed, chatroom text/video/audio/link posts, comments, reactions, and much more. # I want to build with OpenSocial, but what if my users aren't onchain? Decentralized applications powered by [OpenSocial Protocol](https://www.opensocial.co/) do not have to be entirely on-chain. By merging SocialFi infrastructure with a user-friendly platform, OpenSocial can smoothly accommodate off-chain users thanks to a Account Abstraction smart contract wallets, as well as gasless UI, with subsidies initially provided by OSP. # How to monetize on OpenSocial? [OpenSocial Protocol](https://www.opensocial.co/) provides various tools empowering users and communities to fully monetize their social capital without intermediaries, such as megaphones (paid content broadcasting to specific communities), token issuances, betting, bounties, open market, and more. # Who is building OpenSocial? [OpenSocial Protocol](https://www.opensocial.co/) is originally backed by Everest Ventures Group, as well as global actors in the blockchain industry: * Portal Ventures from the West (Web 3 fund spun out from Insight Partners) * SNZ from the East (Early backer of Ethereum / Chainlink / Cosmo / Dfinity / Arbitrum / Polkadot) The round was participated by strategic operators, regional leaders and super angels, including * OKX (Hong Kong) * Animoca Brands (Hong Kong) * Awesome People Ventures (US) * C98 (Vietnam) * Summer Ventures (HK) * Moonrock (Europe) * Smokey (Bera) * Jason Yano (Blockworks) * Mike Dudas (The Block) * Roham (Dapper Labs) * Brian Crain (Cosmo) * Adam Jin (Solana) * Mable Jiang (Find Satoshi Lab) # On which chain is OpenSocial Protocol available? [OpenSocial Protocol](https://www.opensocial.co/) has adopted a multichain approach for its developers and end-users to maximize their convenience. # Ecosystem Applications powered by OpenSocial Protocol ### BreadnButter [BreadnButter](https://www.breadnbutter.fun/) is the go-to Web3 social app on BNB Chain. Users can post crispy content, react with smooth comments, and create vibrant and engaging topic-based Communities. Communities and social connections on BreadnButter are wholly owned by users thanks to OpenSocial's decentralized social graph. BreadnButter incentivizes user engagement through its native token $BUTTER. Users earn Points and rewards by actively participating in Communities. ### Deek Network [Deek](https://www.deek.network/) is a decentralized collaboration platform enabling users to participate in bounties, leverage their knowledge and network, providing valuable information in response to "Wishes" in exchange for on-chain rewards and the establishment of a social reputation layer. ### SoMon [SoMon](https://www.social.monster/), short for Social Monsters, is the first decentralized social app building on the foundation of OpenSocial Protocol. It is a Web3 topic-based forum where users can create their own communities, called "Tribes", and discuss with like-minded people. [SoMon](https://www.social.monster/) features various mechanisms rewarding creators, contributors and community builders. ### # Useful links Website: Twitter: Medium: Youtube: