Reinventing social investment.
We are building a next-generation investment platform with an emphasis on what matters most: the community.
If you would like to be part of our fantastic adventure, you can register on our waiting list. You will become an active member of the community as soon as we are ready to open the platform.
WHAT IS ?
TL;DR: a community-driven social investment platform on the blockchain.
Hmm, that just sounds like a lot of keywords put together... What does it actually mean?
The Social Pool is a platform where people get together and put resources (of any kind, including financial) in common to help entrepreneurs carry out their projects. In exchange of providing resources, participants to the platform get some kind of compensation: shares in the case of seed funding, tokens in the case of decentralized applications, financial interest in the case of debt, and so on...
Ok, that's the definition of a crowdfunding platform - why is The Social Pool different?
We like to think of The Social Pool's philosophy as the odd mix of (1) an over-simplified concept of karma and (2) Karl Marx basic economics.
(1) because above all we aim to build a good-spirited community with positive hallmarks such as respect, kindness and positive collaboration. To this effect, a community member positively contributing to the platform is to be highly rewarded. "Do good things and good things happen".
(2) because we use the concepts of Capital and Labour Power. Two effective ways to contribute to the platform is either to provide financial resources (Capital) or to take time to work to perform some research, write a review, rate another members' contribution, guide new members, etc. (Labour Power). In both cases, members are to receive a compensation for their contribution.
Deep... How does it work?
Every time the community gets together and contributes to a project, a small fee is drawn from the contribution and re-distributed to:
- The members that identified the investment opportunity and drafted its review. This is the highest form of positively contributing to the community as investment opportunities are the engine of the platform. In short: no deals, no profits.
This means that even a member without Capital would be able to receive a sizeable compensation from the community thanks to his or her Labour Power (does it start to make more sense now?).
- A Community Fee Pool (CFP), which is to be redistributed periodically (monthly or quarterly) to all members proportionally to their stake in the community. Such stake is obtained by positively contributing to the platform and comes in the form of tokens.
- The platform staff. The fee will be used to finance the operating, maintenance and development costs of the platform as well as reward the staff for their work (getting in touch with the entrepreneurs, negotiating, fill the paperwork, etc.). The distribution partly comes in the form of tokens.
Tokens?! When is the ICO?
There is no ICO, TGE or airdrop. Tokens are minted on the go as members earn them. Basically, community members collect (or lose) Member Reputation Points (MRP) as they participate to the platform. Different actions have different weight, for example drafting a whole review provides much more MRP than commenting on a review section. There are mechanisms in place that will allow to recognize and heavily penalise members that provide fake contributions for the only sake of collecting MRPs (remember the part about karma?). Regularly (monthly or quarterly), collected MRPs are converted to tokens and distributed to members. Then, the CFP is distributed to the members proportionally to the tokens they have staked on the platform.
Sounds great, but you don't give any numbers! I want to figure out how much I can earn...
We don't give any numbers as of now because we want to leave it open for the community to craft the ideal formula. We will provide a mechanism that we believe is fair with the alpha release but we really want all the Community Rules to evolve as the community grows and benefits from the ideas and vision of the collective mind.
What happens if I don't agree with the Community Rules?
Our priority is to develop a working platform as fast as possible so we will be focusing on the development of the core features (i.e. performance fee distribution) in priority. Once they are in place, we will develop a consensus mechanism that will allow members to challenge, propose, and vote for Community Rules that would directly be embedded in the smart contracts, paving the way for further decentralisation.
What technology are you using?
We are great admirers of the philosophy and vision conveyed by the EOS blockchain so it's natural for us to build on top of it.
What do I need to do to participate to the alpha?
Just register on our waiting list and we will contact you as soon as the platform is ready. The number of members participating to the alpha will be limited so priority will be given to potential members by order of registration date. You will most likely need Scatter set-up with an EOS account and a verified identity.
A verified identity? What's that?
This concept is paramount to the success of the platform. It is impossible to build a society of people relying on individual reputation if one can hide behind the anonymity offered by the internet. We ask of all our members to verify their identity with their real name, proof of identity and proof of address. Those elements are commonly asked by fundraisers anyway, so it makes sense to provide it once instead of repeating the process at every fundraising.
So you're going to collect, store and sell your members' personal information then, right?
NO! We don't care about your personal information and it belongs to you, don't give it to us! We just want it to be verified and unique (one individual cannot have two accounts on the platform). This is where the beauty of blockchain technologies comes in: we use processes that allow you to verify your personal information without having to store it permanently on a hackable centralized server.
Conclusion - What is The Social Pool?
- Common decisions
- Rules shaped by members
- Governance mechanisms
- Deals provided by members
- Reviews and discussions
- Behavioural rewards
- All asset types
- Automatized process
- Redistributed contribution
...on the blockchain.
- Built on EOS
- Tokenized reputation system
- Verified identities
Unfortunately, the development of the platform has been paused to assess the best strategy given the current regulatory environment around ICOs and STOs.
We're Alex and Lambert and we're childhood friends.
Back in 2001, aged 12 and with a raging passion for IT, the internet and "challenging the Establishment", we created a warez community that went on for some time before being constantly shut down by different hosting services, at which point we gave up and moved on with our lives.
We grew up, specialised in finance and held various positions at banks and investment funds until we came in contact with crypto-currencies, the blockchain and the infinite possibilities promised by the technology. We quit our jobs and decided to team up again 17 years after our childhood venture to bring our first contribution to the Revolution we strongly believe is taking place at this very moment.
We felt it was time for us to create a service that could benefit individuals combining our moral beliefs (fairness, collaboration, altruism) with our professional skills (financial investments) and The Social Pool is the result.