KAVA HUB, the new awaited Social Mining platform provided by DAO Labs, started its Soft launch phase on December 14th 2022. It represents another important achievement and a source of pride for the DAO Labs Company and its roadmap, while another top 100 Coin joined the Social Mining Family.
Social Miners fitting the Kava Hub 50 Twitter follower threshold can participate in the exclusive Soft Launch program via Twitter Program and test of the $KAVA Soft Stake in the platform's Soft Staking module.
For such an occasion, and to discover and learn the functioning of the KAVA HUB platform as well as the Social Mining mechanism, Cameron, Kava Network Community Manager, interviewed Malte Christensen, CEO of DAO Labs, in an AMA on Kava Platform´s Official Telegram on Dec. 20th. Let’s see what he revealed to his audience.
Malte, first of all, could you introduce yourself and DAO Labs?
“I have a financial and marketing background. In regards to blockchain, I originate from DAO Maker, the biggest IDO launchpad in crypto and the only one still in green. My colleague Shuyong and I began this venture together with the CEO in his studio flat in Prague at a $1K salary a month. We always had our core focus on Social Mining so we left the IDO game, founded DAO Labs in 2021 and took over the Social Mining SaaS that launched or helped launch Elrond (now Multiverse X), Avalanche, NEM’s Symbol among others.”
Kava Hub has just soft launched. So far, it has 787 active users, with Social Miners from DAOVERSE and veteran Kava fans. How do you feel about it, and what does that mean for the project?
“KAVA is a strong cross chain lending platform and I’m happy it decided to follow the likes of Avalanche and Polygon. Building community is sacrosanct for us and we will do everything in our power to justify the trust we’ve been given. Our track record and achievements are solid and I believe we can help KAVA weather the storm that this bear market is. In basic terms it means, we help streamline Social Media output, help organise content and initiate our non custodial Soft Staking, reducing the floating value of KAVA on the secondary market by creating opportunity cost for users in terms of voting power and Social Media hierarchies in different language tiers.”
Let's start from the beginning: what is Social Mining?
“Social Mining is a Data driven platform. The first thing a user does once signed up is supplying the amount of information they are comfortable with. The first goal is to understand who the community and holders are, then we organise these users within 10 different job categories and tasks to make sure everyone does what suits them best within the time they claim they can dedicate to the project.
We have been instrumental in the token value increase and launch of several top 100 projects as our soft staking (non custodial) voting mechanism and Social media modules help filter valid content and increase the chance of it going viral. Users are incentivized to pick up and up - or downvote content fast by creating a feedback loop and consequently improving output, being entertaining as well as informative.”
What role can communities play in crypto projects thanks to Social Mining?
“Next to the general strength of the project, communities are all that matters. Crypto is incredibly diverse. People are fed up with custodial solutions, they are frustrated with the countless exit scams. Now they have the chance to 1 ) soft stake their assets showing trust to the project, 2 ) they are further able to monetize their Socials which is a core pillar of this 4th revolution and 3 ) they are allowed, after being sufficiently vetted, to bring in their respective skill sets. Social Mining counts the hours and crosschecks users’ contributions, the system uses an outperformance index pushing users to compete within their language community tier.”
Could you tell us more about other success cases of Social Mining, like Polygon or Avalanche? What do you think is the main goal for a project when launching Social Mining?
“GIve the users the spotlight they deserve and allow for monetization of users’ skills instead of wasting money on meaningless marketing campaigns and low level PR. We make up a hefty chunk of all engagements on our top performing platforms. We are talking millions of engagements and 100s of thousands of tweets and retweets.
Users are incentivized to be original and funny if they want to earn, otherwise they get filtered out asap and have wasted their time. Content needs to be original, educational and funny, more importantly there needs to be a message worth sharing. That’s income stream one; income stream two is to establish yourself as someone who can do good in the ecosystem.
Usually on a micro level, the public loves infographics, no one likes to read anymore but tiny things such as stickers and GIFs as well. On a macro level you can approach hackathons, informational videos, localization tasks and stress tests to name a few. We’ve done all of that.
Twitter has always been important, crypto loves pop culture, they want to have a direct line to a project, Twitter provides that. Discord and Reddit are important as well, each in their own right. Even Quora, to use this example, if content goes viral because it is seen as relevant quality content it enters the Quora subscription loop and people subscribing to Quora will see it indefinitely in their emails and accounts. We are a data driven platform, I'm happy to deliver evidence on the above points.”
And how can users benefit from Social Mining? Why should a community member who, until now, is just holding the token, take an extra step and get involved in Kava Hub?
“Allow me to reach back to provide some context:
1 ) We believe Banks have passed their zenith, the latest version of them are a product of the industrial revolution where fast liquid capital could translate into fast gains. Now you need a combined 20 years of experience and $5 million and countries like Malta will welcome you and the EU central bank will supply you with fresh cash at min. 0.1%, it is street robbery with negative interest rates and inconsequential, if not fraudulent regulatory bodies such as Rating agencies. Inflation is another Damocles Sword, there is a reason Turkey, Africa and Asia have an enormous amount of crypto retail users trying to escape their own currency value. The EU is getting there fast.
On Social Mining, users can always keep hold of their assets and their wallets will be only scanned once a day to stabilize secondary market value of KAVA. That means we sit on top of traditional staking which only asks how much and how long but not who stakes.
If this soft staking mixes with the right incentive model users will not give up the role they fought for and created for themselves to dump the token they worked so hard to stabilize. They will lose the user status in the community HUB as well as their voting power and Social Media hierarchies in their own micro economies. These users deserve more APY and APR not some unknown benefactors and VCs dumping on the back of retails and killing product and community.
2 ) Users become their own data banks on Social Mining, they are able to monetize every bit, every engagement and like and share once it passes the screening. They can see their data bank account grow in real time. Their merit and engagement will not only grow KAVA but it will also grow the users’ accounts who follow KAVA. It tribalizes people and brings them closer together. They help each other, they correct and improve each other’s content. Every community is different.
Koreans dominated ETH in 2017 because of this tribalization, Turks, Nigerians, Philippinos, Indonesians are all excellent English speakers. Europeans and to a degree Americans have a long way to go. Fast gains are not everything, a strong bond takes time to form but once routine is created community and company can spike together. Bear market time is building time.
On a side note, data is the most valuable commodity on the planet, surpassing oil long ago. Data creation is also inflationary, I remember counting every MB when downloading or storing MP3s. Even worse, now conglomerates just get their users’ data for free. People post their cars, their clothes, their favourite teams and players every day and nobody compensates them. The same works in crypto. Companies need to identify who to count on doing what. The small users can make a big impact.”
What are Points, Reputation and influence, i.e. the variables on KAVA HUB
“1 ) Points represent quantity, monetary value, 1 point represents 1 cent USD.
2 ) Reputation represents the status of the Social Miner, 0.5 REP means 10% point increase and can grant other perks such as leasing reputation to KOLs who don’t have the time to go through the vetting process on the platform, as well as referral rights to build micro data economies and voting creds.
3 ) Influence represents voting power ( up and down votes ) on Social Mining. English speakers vote on English content, Japanese on Japanese content and so forth, we need to segment to prohibit voting wars. Been there and it’s not pretty. There are many validation tiers, internal and external, if we see someone try to game the system, they will be excluded.”
What do you think Kava community members can bring to the table, compared to other seasoned contributors from social mining that might not have such a deep knowledge of Kava?
“KAVA’s community is dominantly defi savvy English speaking users, they are sceptical while knowledgeable individuals who have proven their loyalty to project, community and team. Their heavy hitters are people that ask questions and are not easy to convince, beats a bunch of yes sayers. There are not many layer 1s left who allow for this level of criticism in their own ranks. We look to constantly improve our system and stay the dominant soft staking SaaS in blockchain, I feel we can benefit from this scrutiny and creativity.
On an overall community level, we need these people to lead by example, show and demo the content they want to see and guide people to improve themselves. Rome wasn’t built in a day. Community is not static, it behaves like Hobbes’s Leviathan, a greater power that needs to be fed by multiple individuals. We cannot do this without the people who dedicated the last 3 years to make KAVA a success.”
Last but not least: What role is DAO Labs going to play in optimising Kava Hub and supporting users who want to get busy?
“I will not torture your community by repeating myself :) Baseline is: 1 ) Monetization of Social media, 2 ) Macro and micro contributions by understanding and filtering community and skills, 3 ) Interest and Voting Power generation through risk free non custodial Soft Staking of assets.
We will also always try to accustom community requests, cater to users needs and tweak modules and reward mechanisms as the KAVA community sees fit. We are happy to support f.e. KAVA Rise with fresh blood, allowing for creative minds globally to support and help KAVA grow, just as we did before and will continue to do.”
Social Mining is a Data driven platform, and data is the most valuable commodity on the planet. In this context, users become their own data banks on Social Mining. Actually, next to the general strength of a project, communities are all that matters and their data production is the most valuable commodity on the planet. Plus, they are able to monetize it with Social Mining.
As a matter of fact, every single user is able to monetize every original, educational as well as fun and valuable content; every engagement and like. The most important thing is that respective users' time and skill sets will not only grow the project itself but will also promote and improve their own account. This tribalizes people from all over the world and brings them together for the long run, through mutual help, feedback and support.
You can join Kava Hub here:
Kava Community Hub: https://community.kava.io/accounts/login/?next=/