Web3 Social Innovation: Can Tipcoin, combined with Twitter traffic, lead the wave of SocialFi?

Tipcoin is a social project that combines Web2 and Web3, aimed at helping users with traffic monetize their content and fans. The project utilizes Twitter as a traffic entry point, attracting early users through token airdrops, with the goal of creating a Web3 social platform.

The core gameplay of Tipcoin is to incentivize users to participate through token airdrops. Users only need to post, retweet, and comment on content with specific tags on Twitter to earn points based on metrics such as views, likes, replies, and retweets. Points can be redeemed for project tokens $tip at the end of each week. Tipcoin utilizes blockchain technology to ensure the privacy and data security of users, while also providing users with more autonomy and profit rights.

The Core Mechanism of Tipcoin

Tipcoin was officially launched on September 1, 2021, developed by a group of blockchain enthusiasts from different countries and backgrounds. Its goal is to create a decentralized social platform that allows users to earn income through their own content and influence.

The target users of Tipcoin are those who have a certain amount of traffic on Twitter or want to increase their traffic. Whether they are content creators, KOLs, or ordinary users, they can earn points by posting content with specific tags on Twitter and exchange those points for the token $tip.

$tip is an ERC-20 standard token based on the Ethereum network, with a total supply of 1 billion coins. The token distribution ratio is as follows:

• 35% for platform rewards
• 40% for the third phase airdrop
• 15% for liquidity provision
• 5% for marketing
• 5% for team lockup

Detailed Explanation of Tipcoin Gameplay

1. Users need to bind their Twitter account on the Tipcoin official website and create a Tipcoin account.

2. Participate in social activities on Twitter, mainly by posting, retweeting, and commenting on content with specific tags to earn points.

3. The points calculation is based on the views, likes, comments, quotes, and retweets of the tweets. The higher the popularity, the more points are earned, and the greater the weight for receiving airdrops in the future.

4. Points Calculation Formula:

   • Publish original tweets: Points multiplier 25, limited to 5 posts per day
   • Quoted by others: Points multiplier 10, limit of 10 entries per day
   • Comment on others' tweets: points multiplier 5, limit 10 per day
   • Like others' tweets: Points multiplier 1, limited to 10 per day

5. At the end of each week, users can exchange points for $tip on the official website.

6. $tip can be used for transactions and consumption both within and outside the platform, as well as to enjoy various services and benefits of Tipcoin.

The Innovations of Tipcoin

1. Utilize Web2 traffic entry to achieve low-threshold user acquisition.
2. Combine Web3 token incentives to achieve high-efficiency traffic monetization.
3. Achieve seamless integration between Web2 and Web3, exploring innovations in the social domain.

Challenges Faced by the Project

1. Robot interference risk: Measures need to be taken to prevent score manipulation.
2. Insufficient market recognition: Strengthen brand building and promotion.
3. Legal Compliance: Must comply with relevant regulations and provide risk warnings.
4. Platform sustainability: It is necessary to reduce reliance on Twitter and establish an independent social platform.

The Development Prospects of Tipcoin

Although Tipcoin faces many challenges, there are still some highlights worth noting:

1. The market size is considerable: Twitter has 206 million monthly active users globally, providing a large potential user base.
2. User growth is rapid: The official Twitter account has over 170,000 followers.
3. Token Value Potential: As of September 18, 2023, the price of $tip is $0.0025, with a total market capitalization of $2.5 million.

SocialFi, as an important track in Web3, has not yet seen any particularly standout projects. Tipcoin offers users a new way of monetizing traffic and a social experience, and its future development still needs further observation. With the continuous development of Web3, it is worth looking forward to whether Tipcoin can secure a place in the SocialFi field.