In an era where Web2 social media platforms are dominated by centralized entities wielding ultimate power to censor and monitor content according to their policies, users suffer from the lack of transparency, privacy and the stifling of diverse viewpoints. Pulse, an innovative Web3 SocialFi platform, offers a much-needed solution by seamlessly blending financial activity with social interaction, resulting in a more democratic and user-centric structure.
Bypassing Moderation with a Decentralized Internet
Described as the next generation of the internet and built on blockchain, Web3 addresses the content moderation issues that plague traditional social media. Web3 users enjoy a censorship-resistant environment with greater autonomy and control over their data.
However, Web3’s decentralized approach introduces the problem of fragmentation because it leads to the creation of multiple platforms and protocols that each operate in its silo. Fragmentation can create a barrier to mass adoption as users find it difficult to navigate across platforms or move their social profiles between them.
The Rise of SocialFi
To combat censorship, moderation and fragmentation issues, decentralized social finance (SocialFi) models offer a transformative alternative. SocialFi platforms aim to distribute power back to users through a democratic and transparent social media ecosystem.
Pulse is an emerging example of a blockchain-based SocialFi platform that promises to eliminate the need for intermediaries, enable data sovereignty and create a more open and inclusive environment for content creation and consumption. Users maintain complete ownership of their content and identities while all interactions and transactions are fully transparent.
Revamping Social Trading and Community Engagement
Pulse brings social trading to life by allowing users to join groups led by top-tier leaders and execute trades with just one click. The platform bridges the gap between crypto markets and social engagement, offering a dynamic landscape for users to learn, share and profit. Following its launch, Pulse’s user base expanded rapidly and now exceeds 1210,000 active users. This dynamic community consists of over 2,000 trader-created groups, with a cumulative total of more than 1.5 million posts shared so far.
Beyond social engagement, Pulse integrates trading functionalities directly into the social environment. It allows users to execute trades, access market insights and act on community-vetted strategies all within a single platform. This integration eliminates the need to switch between multiple applications, streamlining the trading process and enhancing efficiency.
The platform’s focus on community is evident in its token distribution model, where 65% of tokens are allocated as rewards for community contributors. Pulse encourages active user participation through tasks, group chats and regular token airdrops, ensuring that value is distributed fairly among the most engaged members.
Advanced Technology and Token Utility
To solve social interaction and interoperability issues, Pulse leverages Polygon CDK Validium, a scalability platform for Ethereum. This strategic choice allows the platform to maintain transaction integrity without needing to store data on the Ethereum mainnet, thereby increasing scalability, reducing transaction fees, and ensuring trustlessness. Unlike other layer-2 networks, it uses its native token PULSE for transaction fees, so there’s no need for cross-chain bridging.
Data validation and storage are handled by Pulse’s data availability committee (DAC), which consists of groups that meet certain staking and activity criteria. Additionally, PULSE serves as a decentralized autonomous organization (DAO) token that allows holders to vote on key governance parameters and rewards DACs that are active in block production, thus encouraging community participation and bottom-up governance within the Pulse ecosystem.
Unlocking User Experience to the Next Level
The platform differentiates itself from its competitors with its Pulse Smart Wallet feature, which offers advanced account abstraction features that increase user convenience and security. This innovative feature enables users to trade and swap cryptocurrencies instantly. With your Pulse Subtraction Account, you can access a keyless wallet, perform instant crypto swaps across numerous major networks, and execute cross-chain swaps without the need for main-chain tokens.
Abel Sohajda, Head of Pulse, explained that the Pulse Smart Wallet stands out in terms of its multi-chain interactions and automated transaction capabilities. He states, “We meticulously designed Pulse to address the limitations of existing tools and included customizable security features such as multi-signature authorization and social recovery options to provide our users with unparalleled control and peace of mind.”
Community-Driven Governance
Pulse seeks to set standards in the meme token market by integrating community assets with engaged groups, ensuring a secure and transparent trading environment. Unlike traditional platforms that are vulnerable to scams, Pulse’s community-driven model links meme tokens directly to active, verified groups. This decentralized governance framework enhances the legitimacy and value of meme tokens while empowering the community to act as a safeguard against fraudulent activities.
Through its focus on community and transparency, Pulse has transformed the SocialFi landscape into a safer and more rewarding environment for users. The platform’s innovative model fosters a strong sense of ownership and responsibility, so users know their voices are heard, and their assets are protected.
Soon, Pulse will release the testnet for Pulse Network, which will allow Pulse groups to begin staking as network validators. The team will also host a hackathon focused on Web3 social applications, further enhancing a vibrant third-party app ecosystem. In Q4, the platform plans to launch the Pulse Network mainnet, conduct a token airdrop, and initiate group validator mainnet staking. The $PULSE token will serve as the network’s payment and gas token, creating a cohesive and seamless ecosystem experience.
