MAIN.COMMUNITY 2023 Report

9 months ago

As we set our sights on 2024, MAIN is warming up for a significant year of upgrades, solidifying our vision to be the best solution on the SocialFi market for developing the web3 communities that thrive. It has been almost three years since the MAIN launched, and by now we have already gained deserved recognition in the top-15 decentralized social networks according to the CoinGecko rankings and firmly holding the top-10 social dApps on BNB Smart Chain, DappBay, as we continue to forge ahead.

Over the past year, the MAIN has been maintaining its momentum, making significant progress in the following key areas:

🔸 The MAIN’s 2023 in Numbers

🔸 Raising Awareness with Incentivized Zealy Quests

🔸 The Leading Staking Pool on the Market

🔸 New Tools for Board Management

🔸 Enhanced Reward Distribution Algorithms

🔸 Introducing Business Communities

The MAIN’s 2023 in Numbers

According to the Dune data, from January 2022 to January 2023, the MAIN platform underwent steady and strong growth across various key metrics:

1. Total Value Locked (TVL). The Total Value Locked on the platform has significantly increased, soaring from just under 24 Million $MAIN to an impressive 35 Million $MAIN. This growth reflects the heightened engagement and activity within the MAIN ecosystem.

2. $MAIN Token Holders. The community has experienced a surge in $MAIN token holders, surpassing 11,600 holders on BNB Chain and Ethereum Network combined. This increasing ownership signifies a growing interest and trust in the MAIN token among users.

3. Communities Market Cap. Communities' Market Cap has approached $250,000 (while an all-time-high Market Cap has peaked at an impressive $600,000) showcasing the collective value and strength of the various communities within the MAIN ecosystem. This is a testament to the vibrancy and diversity of the communities on the platform.

4. Cumulative Boards Number. The platform has achieved a milestone with a cumulative number of 500 boards. This diverse range of boards caters to a wide array of interests and topics, contributing to the platform's richness and inclusivity.

5. Board Coin Trade Volume. In 2023 alone, MAIN Board Coin Trade Volume has shown stable growth, by reaching over 500,000 $USD. This was achieved via 313,059 transactions of purchase and sale of coins during the annual period.

At the same time, as evidenced by the Cumulative Board Coin Trade Volume, since inception the total trade volume exceeded 700,000 $USD. This indicates the active trading and exchange of board coins within the platform.

6. Unique Active Wallets (UAW). The cumulative number of UAW at the end of Q4 2023 has surpassed 11,000 accounts. These active wallets have been actively driving transactions and interactions on the MAIN platform.

7. Board Coin Holders. A significant uptick is observed in the number of Board Coin Holders, reaching 13,135 unique users. This growing community of coin holders contributes to the decentralization and inclusivity of the MAIN ecosystem.

8. Ecosystem’s Fund. A major milestone shaped the path of MAIN tokenomics in 2023 as ecosystem rewards distributed to its members have exceeded 50 million tokens, representing an impressive 5% of the total Max Supply. This accomplishment is a testament to the vibrant and engaged community that has embraced the MAIN ecosystem. The MAIN token, with a fixed supply of 1,000,000,000, allocates 350 million tokens to the ecosystem fund. As rewards continue to flow into the community, it signifies a substantial benefit for individual members of the MAIN project. The journey ahead holds the promise of even more excitement as the community works towards the next milestone of distributing the next 300 million tokens.

9. Creator’s activity. Precisely 798,431 posts have been published in 2023: That’s 2,187 posts per day, 91 per hour, or 1.5 per minute. These posts were made by 14,969 authors throughout the year. That’s 53 posts per author on average!

10. User activity, reactions and rewards. In 2023, 18,560 commentators wrote 2,152,622 comments; users gave 21,294,007 reactions to posts and 6,107,648 reactions to comments; 205,476 rockets were given to posts; donated 4.1 Million $MAIN. This provided over 2 Million $MAIN to creators and over 1 Million $MAIN to board moderators; 2.5 Million more $MAIN was earned by moderators from the coin purchases on their boards; In total, users earned 14.5 Million $MAIN for their activity in the communities.

11. Referral program. Over the past year, we have managed to effectively attract many new users through our referral program. The complete number of distributed referral rewards reached 4.3 million $MAIN.

Raising Awareness with Incentives

In December 2023, MAIN expanded its community engagement channels by introducing a dedicated page on the Zealy quest platform. Leveraging Zealy enables us to streamline the onboarding process for our community members. Beyond simplifying onboarding, Zealy introduces creative challenges, fostering a spirit of competition.

Participants are incentivized to complete quests, as their efforts are rewarded during the Sprint cycles. This not only enhances the community experience but also serves as a discovery tool for users to explore new boards and discover additional functionalities on MAIN.community.

By the end of December, our Zealy community had grown to 730 members, collectively completing over 4,000 quests. This positive engagement highlights the success of our community expansion efforts on this innovative platform.

As we venture further into 2024, we will unveil exciting collaborations with new partners, offering our community enjoyable experiences and the chance to explore additional dimensions of MAIN while earning rewards by completing Zealy quests.

The Leading Staking Pool on the Market

While MAIN tokenomics empowered users to monetize their contributions to social networks as content creators and significantly ignited the user's activity over the past year, in turn, we always seek various opportunities to attract the audience to MAIN. One of last year's achievements was more than a successful outcome from the MAIN’s partnership with EarnPark - an ecosystem of products that allows staking crypto. In this strategic partnership, users were able to stake $MAIN token, earning a substantial yield of 30% APY through the EarnPark platform, complete with quarterly payouts.

Notably, this stays among the highest APY rates available in the staking market.

New Tool for Board Management

During the last quarter of the past year, we have delivered a novel tool for board moderators - a limit on the minimum number of coins for receiving rewards. This management tool allowed communities on MAIN to impose restrictions on reward access for users who don't possess the necessary minimum coins.

Administrators can establish reward participation limits through the board settings, available on the web platform or Android app versions 3.17.0 and above (The set limit can vary from 0.1 to 1 board coin). Consequently, the flexibility in the board moderation has benefited the whole reward distribution model of the leading communities.

Enhanced Reward Distribution Algorithms

As the industry continues facing challenges on its journey to mass adoption, we keep identifying the existing issues due to your dedicated feedback. In the past year, we have strengthened our reward distribution system by liberating MAIN communities from the so-called “centralization trap” by:

🔸 Increasing decentralized community rewards.

🔸 Disabling some inactive communities from rewards.

🔸 Increasing the role of rockets in the distribution of rewards.

This change to the rules for establishing a community eliminated the mandatory requirement to spend a significant number of tokens to enhance its capitalization and subsequent rewards. With this vital update, we achieved the possibility of greater rewards for spending fewer tokens burning a portion of the acquired coins, and supporting MAIN communities with a more balanced and decentralized ownership structure.

To ensure fairness of reward distribution, monetization has been disabled for communities with less than 10,000 $MAIN locked, and the funds from these communities will be allocated to support other boards. Consequently, we have increased the power of rockets to the equivalent of up to 25 upvotes, meaning that they have greater value in the rewards distribution process. This way we ensure that top creators get a higher percentage of the reward pool for producing high-quality content (as the rockets that they receive from the top holders carry more weight), achieving protection from raids of various bot farms. These updates have boosted rewards for boards actively contributing to MAIN's development.

Introducing Business Communities

The integration of Business Communities on the MAIN platform creates novel revenue opportunities for businesses adopting web3. The uniqueness of these communities sits in their governing model: they are free of board coins and administrator elections. Instead of that, they are perpetually under the ownership of their creators, offering unrestricted participation for anyone interested.

Unlike regular communities, business communities will not be incentivized by rewards provided by the MAIN ecosystem fund. However, they acquired the flexibility to autonomously define and administer rewards programs tailored to their members' needs. The Bussiness Communities will complement web3 projects in a myriad of different ways:

🔸 Expand your reach to a new audience from both web2 and web3 realms.

🔸 Access the user-generated content including valuable insights, feedback, and product reviews.

🔸 Build trust and credibility by establishing a direct connection with your audience.

🔸 Cultivate an inclusive environment for your community to thrive fostering discussions, collaborations, and meaningful interactions among community members.

Looking ahead, our plans involve providing the web3 projects with the autonomy to establish their participation criteria. This could include requirements such as specific tokens or NFTs, special Discord roles, or adherence to criteria set on platforms like Twitter or WhiteLists. This strategic empowerment aims to create a dynamic and diverse ecosystem where each business community can uniquely shape its interactions and government system, contributing to the overall vibrancy of the MAIN platform.

Stay tuned for forthcoming announcements, as we eagerly anticipate unveiling new partnerships and updates shortly.

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