Wormhole3 realizes Smart Media Tokens (SMTs) with Steem Blockchain (pls support us by voting @smt-wherein as Witness!)

wormhole3 (62)in #smts • 8 months ago

Since first learning of Steem in 2018, we have been captivated by Steem's Web3 vision. We read the Steem Smart Media Tokens whitepaper (https://github.com/steemit/smt-whitepaper/blob/master/smt-manual/manual.md) very early on and have been eagerly awaiting its realization.

Inspired by the promising future of Smart Media Tokens (SMTs), we developed WhereIN, a DApp ranked third in the Steem ecosystem, and operated as a Steem witness (@smt-wherein).

Despite the setbacks in SMT development in 2020, our hopes for SMTs' implementation remained high. Given the difficulty of implementing a Proof of Brain (PoB) token for everyone natively on the Steem Blockchain, we began to consider if it was possible to integrate EVM-based blockchains with Steem to realize the SMT vision.

Initial Staking Offering - Empowering Steem Ecosystem for Community Token Distribution

In 2021, we developed Nutbox, allowing anyone to issue tokens and distribute them through mechanisms such as Initial Staking Offering (ISO) and liquidity mining.

ISO is a feature where communities can create pools for users to delegate to the community validator and receive community tokens as reward, while the PoS staking reward goes to community treasury.

Communities on Steem can use the ISO module, so community members can delegate Steem Power (SP) to the community, and in return, they receive community tokens. The community Steem account can support high-quality content creators among its members by Upvote, and earn curation rewards in $STEEM, which can be used to buy back community tokens or support community growth in other ways.

Peanut DAO is an example of a community powered by ISO, combines features like liquidity mining, staking pools, and DAO governance to become an on-chain DAO.

Wormhole3 - Bridging SMTs and PoB

We are firm supporters of Steem's Proof of Brain (PoB) mechanism, believing it to be the core of building interest-based communities and guilds. Using cryptocurrencies to support content creation and social interactions within communities is crucial for Web3 interest communities, guilds, and on-chain DAOs. Steem was the first blockchain database to do this, and SMTs enable other community founders to easily create communities like Steem.

Our unwavering faith in Steem and SMTs led us to begin developing Wormhole3 in 2022. Wormhole3 is a decentralized forum that combines the financial features of EVM-based blockchains with Steem's social protocol, realizing Smart Media Tokens.

Just as Smart Media Tokens envisioned, community founders can use Nutbox to issue community tokens and distribute them through ISO. They can also use Wormhole3 to implement their "Proof of Brain." Any community member who contributes to their community can earn community tokens based on the “likes”, “shares”, and “quotes” by other community members. Creators and curators can both earn community tokens.

Beyond traditional posting on Steem's forums, we've expanded the application categories for "Proof of Brain." Community members can not only create content or curate but can also participate in Twitter Spaces as hosts, co-hosts, speakers, curators, and more, earning community tokens. Of course, community members can like, share, or quote official community tweets and earn community tokens based on the PoB mechanism.

All content published by community members is stored on the Steem blockchain. We've also implemented mechanisms like OP (Resource Credits) and VP (Voting Power) inspired by Steem to manage the use of system resources.

Since its launch in July 2023, the community version of Wormhole3 has seen more than 15 communities built on it, ranking 24th in monthly activity among Social DApps.

A Social Autonomous World

Social is at the core. We envision Steem Blockchain as the core, integrated with other EVM-based decentralized protocols, to provide services to the world of crypto. For example, KOLs or KOCs can publish content within communities, embedding features like minting NFTs, swapping tokens, staking, and when collectors mint NFTs, trade or stake, a portion of the service fees is shared with KOLs, the community, and curators.

Wormhole3 is actively integrating with different decentralized protocols, collectively focusing on social and content, and combining with other decentralized protocols to create a Web3 version of a social autonomous world.

Support Us

If you'd like to use Wormhole3 and Nutbox to create your own community, please get in touch with us.

DApp: https://alpha.wormhole3.io/

Twitter: https://twitter.com/wormhole_3

Discord: https://discord.gg/HkA7dawzNW

Please vote for our witness node (voting link https://steemitwallet.com/~witnesses) to support our ongoing contributions to the Steem ecosystem.

CN 中文

自从2018年进入Steem，我们就被Steem的Web3愿景所折服。我们很早就认真阅读了Steem的Smart Media Tokens白皮书（ https://github.com/steemit/smt-whitepaper/blob/master/smt-manual/manual.md ），也一直期待它的诞生。

在Smart Media Tokens（SMTs）美好未来的憧憬下，我们开发了WhereIN（Steem生态排名第三的DApp），运行了Steem见证人（@smt-wherein）。

SMTs在2020年开发受阻之后，我们依旧期望SMTs的实现。考虑到Steem Blockchain原生非常难实现人人可以发行PoB的token，我们转而思考：“是否可以将EVM系的区块链与Steem进行结合，以实现SMTs的愿景”。

Initial Staking Offering，帮助Steem生态社区实现代理SP分发社区token

于是，我们在2021年开发了Nutbox。Nutbox让每一个人都可以发行token，并且通过Initial Staking Offering、流动性挖矿等方式分发其token。

一旦社区发起人为社区账号配置ISO模块，社区成员即可将SP代理给社区账号，获得社区代币。社区则可以点赞支持社区中的优质内容创作者，并获得$STEEM的策展收入。策展收入可以用来回购社区代币，亦可用作其他用途。

Peanut DAO依靠ISO实现了冷启动，并在流动性挖矿、质押池、DAO治理等模块的组合下，成为了一个On-chain DAO。

Wormhole3，实现SMTs和PoB

我们一直对Steem的Proof of Brain（简称PoB）的机制念念不忘，我们认为PoB是构建一个兴趣社区、公会的核心。使用加密货币支持社区的内容建设和社交互动，是Web3兴趣社区、公会、On-chain DAO的关键。Steem是第一个这样做的区块链数据库，SMTs则让其他社区发起人也能够非常轻松创建Steem这样的社区。

我们一直对Steem和SMTs深信不疑。于是，在2022年，我们开始开发Wormhole3。Wormhole3是一个去中心化论坛，它结合EVM系区块链的金融特性和Steem的社交协议，实现了Smart Media Token。

如Smart Media Token所期待的一样，社区发起人可以使用Nutbox发行社区代币，并通过Initial Staking Offering分发其社区代币。他们还能够利用Wormhole3实现其“Proof of Brain”，任何社区成员发推到其社区，可以根据社区成员的点赞/转发/引用，创作者和策展人都可以获得社区代币。

在Steem的论坛发帖等形态之上，我们对“PoB”的应用类别进行了拓展。社区成员不仅仅可以创作或策展，按照PoB机制，获得社区代币。他们还可以参与Twitter Space，作为host、co-host、speaker、curator等获得社区代币。当然，社区成员可以点赞/转发/引用社区官方推文，根据PoB机制获得社区代币。

当然，所有社区成员发布的内容都存储在Steem区块链。我们亦参考Steem实现了OP、VP等机制，用于管理系统资源的使用。

Wormhole3社区版从2023年07月上线到现在，已经有超过15个社区在其上构建，月活跃量在Social DApp中排名第24。

社交自治世界

社交是核心（social is the core）。我们希望Steem区块链作为核心，与其他EVM系的去中心化协议进行组合，为加密世界的人们提供服务。比如，KOL或KOC在社区发布内容，并在内容中嵌入mint NFT/swap token/stake等，当有收藏者mint NFT、交易或质押的时候，其中部分服务费用将与KOL、社区、策展人进行分享。

Wormhole3正在与不同的去中心化协议进行组合中，一同围绕社交与内容，与其他去中心化协议进行组合，打造Web3版本的社交自治世界。