APP FEATURES

Posting Content & Commenting:

On SNAPY users are able to share content in the form of photos and short videos. Comments are also regarded as a form of content and users can vote on comments as well, incentivizing people to add positive, helpful or encouraging comments.

Voting:

Users who are voting content are like the engine of the network. The more active engagement we find on a platform, the higher the value rises of the platform. Currently, the curators of social media networks are overlooked and there are no implementation plans that would reward those who spend their time interacting on social media networks. We want to reward active users who give value to the content creators, by giving them back a proportional share of all pay-outs and distribute it accordingly.

For example: When John votes on a post from Sophia on the SNAPY platform, John plays a part in contributing, giving the content created by Sophia value. Sophia receives a pay-out for creating the content and John also receives a share of Sophia’s income for his supportive action. This is a win-win situation, encouraging and incentivizing support and engagement.

SNAPY Power:

SNAPY power represents SNAPY tokens, which have been integrated into a smart contract. The amount of SNAPY power represents the level of influence that an account has compared to the rest of the network. The amount of tokens represents the power of one’s “vote”. Thus, the more SNAPY power an account has, the higher the voting power aka. more impact its “vote” has. This creates a game-like competitive environment.

There are different milestones of SNAPY power to be achieved that unlock features within the SNAPY ecosystem and encourage the long-term commitment of new users even further.

SNAPY power shows the belief in the platform and its future. SNAPY wants to create a sustainable economy and therefore we use the mechanism of SNAPY power to eliminate the risk of short-term dumping. Receiving SNAPY power is like a commitment, which also encourages users to recognize the value of long-term commitment.

Voting Slider:

This feature lets you distribute your voting power. With the “Voting Slider” you can choose what percentage of your voting power you want to “vote” on a post with. The voting slider lets users divide their voting power intuitively. Since users have limited voting power, we encourage users to vote less than 50% of their voting power on the content they regard as “less high quality” and only choose to reward high-quality posts with more than 50% voting power. Depending on the amount of voting power a user has, the more careful and with less percentage he/she should vote since someone with more voting power can make a large difference voting with 10%, while someone who is brand new to the platform with less voting power has to use a high percentage to make a difference.

Voting Power Bar:

The voting power bar displays the amount of voting power a user has left to take actions on the blockchain and works as followed: Here is an example of how voting power works:

100% voting power = 50 points

1 Blockchain action (100% upvote OR 1 post/comment) = 1 point

Therefore if a user upvotes with 50% of their voting power the voting power goes down 0,5%. However every hour 1 point gets added back to the voting power. So for example: if a user votes on 50 posts with 100% of their voting power within an hour, then their voting power is diminished and he can no longer post/upvote/comment and has to wait until his voting power fills up again. This mechanism counterfeits spam and encourages users to be selective with their votes.

SPY Power Up / Down:

When a user chooses to purchase SPY tokens and use them as voting power on the SNAPY platform, they can choose to “power up” their liquid balance, turning them into SNAPY voting power, thus increasing the weight of their vote.

SNAPY power (locked SPY tokens) cannot be transferred or traded directly, but the account owner has the option to unlock and convert it back to liquid SNAPY (SPY) tokens in weekly payments through the feature “power down”. Once the power down is initiated, the SNAPY tokens will then be paid out in weekly payments (1/10th of the total SNAPY power that the account holds).

As the SNAPY power decreases, the account also loses voting power proportionally to the amount of tokens withdrawn.

Pay-out Process & Donation:

Every post can earn rewards for a period of 30 days. After the voting period, the voting power button turns into a donation button and enables users to send SPY tokens to a user. Beyond supporting other users via upvoting content, users can also choose to donate SNAPY tokens by clicking the "donate button" in the menu next to each post.

Wallets & Transfer:

The wallet shows the tokens belonging to an account and can be compared to a digital bank account that enables the user to transfer, withdraw and deposit tokens. The wallet account will be directly connected to the user’s SNAPY account.

When a new account is registered the SNAPY user automatically creates a personal online wallet. Since the blockchain is transparent all transactions are visible, however, for the average user, the wallet maintains his privacy due to pseudonymous accounts and the interface, which displays the appropriate transactions and allows access for the owner only.

The digital wallet stores the generated coins and can be compared to one’s own personal banking account on the blockchain. Besides the features of direct messaging and instant transfer: SNAPY users will have the option to directly send tokens to another user’s wallet within seconds. For the first time, a wallet is integrated into a social media application that is simple, fast and secure.

Imagine being able to securely send tokens from your phone to your friend’s in a matter of seconds, and never having to go through the hassle of traditional remittance.

Delegation:

The “delegation” feature allows users to lend others their voting power. For example: if someone holds SPY tokens in their account wallet, but isn’t very active with the account, not sharing content, commenting or upvoting - they could “delegate” their staked / “powered up” SPY tokens to another account. The receiving account would be able to vote on content with much more voting power, thus distributing more SPY tokens and having more influence over the reward distribution. The receiving account would therefore be able to use the voting power and earn more in return, but would not be able to withdraw or send the delegated tokens. The person on the delegating end can also enter period and decide when the delegation should be removed and automatically return back to the owner account.

Categories:

There will be up to categories within the application that provide structure and visibility for the user experience. While the option to search for “normal” hashtags remains, there will be fifteen separate categories that make it simple for content creators to be found and for curators to find what they are interested in. The categories can be adjusted depending on the interests of the market. The following is an example of the categories:

• Fashion

• Beauty

• Gaming

• Sports

• Fitness

• Art

• Music

• Dance

• Comedy

• Lifestyle

• Travel

• Food

• News

• Tech

• Wisdom

• Purpose