Introducing Sl8: The Ukrainian Crypto-Social Network

WhiteBIT
Published 07 April 2023
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Introducing Sl8: The Ukrainian Crypto-Social Network

Content

Innovative Ukrainian social network. What is Sl8?

Sl8 (Slate) is the first Ukrainian crypto-social ecosystem with an integrated crypto-wallet on the Stellar blockchain for each user. The startup was founded in 2019 and it is registered in the USA. Its founder and CEO is Dmytro Ivanov. Sl8 is a censorship-free social network focused on privacy and security. Furthermore, the advantage of the project is the news feed, which the users set up themselves.

Sl8 refuses to track users and hunt for their private data, opting for a hierarchical moderation system. The platform uses automatic content monetization through cryptocurrencies, allowing users to make cryptocurrency payments and transfers.

As Sl8 has no targeted advertising, users choose the content themselves and not the other way around.

How to sign up for Sl8? How to get an invitation code?

To sign up for Sl8, you must have an invitation or a special code. An invitation can be sent by an already registered user, and the code can be obtained from the Sl8 community page.

Sl8 can be used through the desktop version and mobile applications for Android and iOS.

How does Sl8 work?

Sl8 is based on the minimal censorship principle, only restricting content as provided by the criminal code. Posts with adult content are classified as “18+” and “21+” and are not shown in the general search.

Users create their own news feeds by subscribing to interesting content. Sl8 ensures that users see all posts by authors they follow. Currently, there are two ways to discover content: the Latest section, which displays all posts on the network, and Discovery, where posts are sorted into categories based on likes and comments at different time ranges.

With no algorithms implied, Sl8 gives everyone an equal chance to gain visibility in the general feed and become popular. The success of each post is determined by the number of readers ready to pay for it.

Why is Sl8 a unique project?

Sl8 differs from other social networks by using “layers,” which allow users to categorize their posts by topics. In conventional social networks, all posts are mixed together, which makes it difficult for users to organize their feeds. Although hashtags help with the search, they only partially solve the problem.

In Sl8, users create layers for different types of posts and publish content according to the thematic layer. This allows users to follow either the author’s entire account or separate layers, ensuring that their feed only shows the information they’ve chosen.

This feature is also useful for new users who can subscribe to a specific feed of other members and manually manage their feed according to their interests. For example, subscribing to a separate layer dedicated to Sl8 updates will only display this information without any other unrelated posts. Other social networks offer the opposite experience, where new users have to spend plenty of time training algorithms to show them what they want to see in their feeds.

How can Sl8 be useful for content creators?

Sl8 is a social network that aims to benefit content creators, influencers, journalists, storytellers, and bloggers by turning likes into cryptocurrencies. Users can pick between stablecoins (SLX), floating rate coins (SSLX), or bonus coins (BSLX).

All cryptocurrencies, except for bonus ones, can be stored in a crypto wallet linked to the author’s profile and exchanged for hryvnias or other cryptocurrencies. This system allows for direct monetization, fundraising for charities, auctions, lotteries, or community mini funds.

The social network’s wallets are connected to the Stellar network, and the network’s token StarSlax (SSLX) is in the top 10 in the Stellar ranking among many other cryptocurrencies.

How are likes implemented in Sl8?

Sl8 is a unique platform because users can earn cryptocurrency from their posts. The project acts like a regular social network, but instead of traditional likes, users receive cryptocurrencies as a reward for their content or use them to rate the posts of others.

On Sl8, three types of cryptocurrencies are used to like posts:

Bslax (BSLX) is a bonus cryptocurrency used only for likes. It cannot be converted into other cryptocurrencies or real funds. New users receive a certain amount of BSLX upon registration. A premium subscription is expected to be available for BSLX later.

Slax (SLX) is a stablecoin cryptocurrency (one SLX equals $0.01). Users can buy, sell, and exchange SLX for other currencies on the Stellar platform.

StarSlax (SSLX) is a native Sl8 token backed by the capitalization of Cassator Corp, owner of Sl8. Users send the token as a reward to the authors for the content. Also, StarSlax is already traded on WhiteBIT and Stellar.

Sl8 provides its wallet to store these cryptocurrencies, accessible from the main menu. BSLX is available immediately without registration, but users must activate their wallets to use Slax and StarSlax.

How to become a Sl8 ambassador? What does it give?

You can become an ambassador by inviting friends. To get Brand Ambassador status, it is enough to invite 100 people, including your referrals, their referrals, and so on, until the end of the chain.

Each Brand Ambassador receives a badge displayed on their profile and a one-time reward of 2000 SSLX and 10 000 BSLX. Moreover, 6% of sales from first-level referrals via whitelist and bonus BSLX from the first three levels of referrals.

What is token-as-a-service in Sl8?

Sl8 is developing a token-as-a-service program for businesses that allows users to create their own cryptographic tokens based on the Sl8 platform. These tokens can be traded, used for services or discounts, etc.

However, the Russian invasion of Ukraine led to the creation of the first volunteer cryptocurrency, UAF Coin (Ukrainian Armed Forces Coin), which raised over a million hryvnias for the Ukrainian Armed Forces.

To stand out in the competitive philanthropic market, the Sl8 team supported content creation, art projects, and NFTs to provide value to donors in return. After the successful launch of the UAF Coin, the team decided that the token-as-a-service was ready for widespread adoption.

What is the future perspective of the project?

The Ministry of digital transformation of Ukraine has already announced that the future electronic hryvnia will work on the Stellar blockchain. When it goes live, Sl8 plans to integrate it into its wallet. Also, the project plans to implement the following functions:

  • Crypto acquiring with zero fees for both individuals and legal entities;
  • Payments using a QR code;
  • Simplified cross-blockchain payments;
  • Secure messaging;
  • Direct integration of videos from YouTube and Vimeo;
  • Two-factor authentication and other security enhancements.