Pi Network releases Fireside Forum, a Web3 social platform to promote constructive online interactions.
The Pi Network, a Web3 app ecosystem, has launched a new social platform called “Fireside Forum” which is self-moderating and has integrated tokenomics. The platform is designed to encourage better content and raise accountability, where users pay to post. The Pi Network is a community of Pi miners working on building a Web3 ecosystem, founded in 2018.
According to the press release, Fireside Forum is a Web3 social platform that emphasizes authenticity, constructive conversations, and healthier online interactions. It allows Pi Network members, also known as Pioneers, to interact with millions of other people. However, the new model dictates that the Pi crypto is used to reward positive and penalize negative interactions and behavior in posts, replies, and channels.
The team argues that cryptocurrency is integrated into the core of Fireside Forum’s social mechanism, which is meant to help moderate behavior online and create a “healthier user experience.” The users pay for posting, but the platform is expected to result in “meaningful interactions” and give more visibility to the content that the community considers valuable, based on the engagement level.
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The decentralized aspect of the platform comes in with the Pi Network saying that it gives the community decentralized authority on how content will trend, encouraging not only more authentic interactions but greater accountability. Pioneers need to pass a KYC program to interact with other KYC-verified pioneers. Once they migrate their mined balance to Pi Mainnet, they can buy in-app tokens with their Pi crypto. They will need these tokens to do anything on the platform, including posting and replying to posts, as well as promoting and demoting any specific content.
The Pi Network believes that blockchain and cryptocurrencies can facilitate much-needed change in the social media industry, which is struggling with misinformation, trolling, and internet violence. Fireside Forum is just one of the early instantiations of Pi Network’s work in social networking, and its design will continue to evolve based on the knowledge they gain.
Your Words Will Cost You
“Counterintuitively, [Fireside Forum] explores the idea of creating posts at a cost, whereby authors can only recover this cost – via tips from an approving decentralized audience – by providing great content.”
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