The legacy of Social Mining: Orion Protocol

The legacy of Social Mining: Orion Protocol

Alexey Koloskov, a blockchain developer and the project's CEO, founded Orion Protocol in 2018 and debuted it in 2020. Built on the most cutting-edge liquidity aggregator ever created, Orion Protocol collects the liquidity of every cryptocurrency exchange onto a single, decentralised platform. The Orion Protocol was designed with the intention of giving cryptocurrency consumers and traders the best trading rates across numerous exchange markets and platforms. Orion intends to alleviate the challenges of conducting lucrative transactions that are caused by a lack of liquidity on the majority of cryptocurrency exchanges. The emphasis is on creating a one-of-a-kind ecosystem of great DeFi goods for users. With a novel approach to crypto accessibility, Orion establishes new benchmarks and opportunities for new users entering the industry. The concept was designed to reduce hazards such as hacker assaults. With Orion, you save time, money, and assets.

On December 13, 2020, Orion HUB, the Orion Social Mining Platform, was released to the public. In an ideal world, bounty campaigns would bring together a group of knowledgeable people who would enthusiastically back the project because they would be incentivized to do so once they received their rewards. The truth, however, is rather different. It is well known that bounty campaigns are frequently targeted by scammers attempting to rig the system for easy rewards. Unlike bounty campaigns and airdrops, Social Mining was created to keep earned tokens from being dumped on the market. Social Mining includes a non-custodial staking mechanism as well as a user verification process to address the issue of free riders. Orion HUB was built to engage community members and ORN token holders, as well as monetise participation using ORN tokens. Some of the jobs that were promoted were content production, content amplification, technical development, design, and content translation.

Orion Protocol, another one of Social Mining's enterprise clients, experienced 14.7-fold growth. When Orion Hub went live for the first time, the market cap of the company was only $37 million, but it soared to $544 million over time. The Orion Hub, Orion Protocol's community launch platform, was a brilliant approach to foster the growth of the Orion community, protect the Orion brand, and boost the value of the Orion token. In one of the most revolutionary technologies of our time, your participation in the community determines the extent to which you are rewarded, how much you learn, and how far you advance in your expertise. Content produced on the Hub ranged from tweets about the latest breaking news to high-quality original articles to well-designed infographics and the funniest memes.

In the past decade and a half, social media usage has skyrocketed. Social media is everywhere. It cannot be avoided; it is potent, and it is here to stay. As the world's population grows, social media as a corporate function thrives, creating a large number of new jobs. That is precisely what social mining provides: a job-creating platform while simultaneously fostering ecosystem growth. Not only do they give a platform for users to communicate beyond geographical and social borders, but they also open up a world of possibilities. Users can share user-generated content in the form of tasks and activities that reward them for their efforts.

The Orion Hub offered a new approach to its own community involvement, allowing native users to participate in a wide variety of activities that not only aided in the maintenance and growth of the Orion Protocol but also provided a means to profit from those efforts. The social mining platform of the Orion Protocol was designed with a few conditions for community members. More than 50 ORN were required to participate. Another factor to consider was the mandatory KYC verification. Users were required to pass Level 1 KYC and link their social media accounts in order to engage in social mining. Finally, every task that Orion Protocol enthusiasts successfully completed yielded a reward. The size of the prize was contingent upon the quality of the task that was completed. The rewards were divided between workdrops and taskdrops, with workdrops occurring every two weeks and taskdrops for single, specified activities.

Participants' social mining activities on the Orion Hub were tracked and logged so that they were able to receive ORN token rewards for their participation in the network. In order to keep the community abreast of all the latest occurrences at Orion Protocol, new contributions and user interaction updates were combined into a news feed for other users.

Anyone could contribute their unique skill sets to the cause of expanding the Orion Protocol. The Hub also had a reputation system that gave users the ability to vote on, like, and rank other users' contributions. The goal of this system was to recognise and reward active account holders who made regular and valuable contributions across the network. The one-of-a-kind process of Social Mining facilitated the establishment of Orion Protocol’s organic community.

Social Mining soft staking SaaS has been in this industry for five years and capitalises on the monetization of social media as well as the individual abilities of users. Furthermore, user contributions are expedited, with the ultimate goal of making content go viral. This meant that a company could source designers, content writers, programmers, marketers, and other necessary professions organically through their own community as well as through each individual's social media accounts, and then attract them into the team if they built a strong enough reputation.

In addition to creating job opportunities for Orion users, Social Mining helped the organisation expand by utilising a merit-based approach, thus emphasising the relevance of community once again.

Only the token holders and contributors on the Orion Hub had the right to profit from incentives and earn allocations inside the Social Mining community. Token holders and contributors were able to govern, work, and earn inside the community. This enabled users to grow their income through allocations of the ORN token while also actually giving value to the initiative they supported. No venture investor had the opportunity to attempt to seize the token gains that were rightfully the property of the Orion users.

The Orion Hub platform featured a Dashboard, which served as the user’s home page. Task Board, where the tasks were published. Rewards correlated to the amount of points generated from the completed tasks. Staking, which allowed you to track your staking earnings, The Community Board allowed you to explore other users' activity here, and lastly, the Digital Library was a central repository for all user-generated content.

Social Mining is centred on the community. Every project needs a strong community of token owners, and social mining gives us the tools to grow and fortify that community. It is all about enhancing the lives and visions of others by continually pushing them to raise the bar of excellence. It is widely believed that empowering influential community members with authority is crucial to fostering a healthy community. Blockchain needs talented human beings. You don't have to be incredibly talented. Just be committed and driven.

In the ever-evolving cryptosphere, Social Mining stands out as one of the most seasoned and reliable community-building accelerators. Social Mining devotees have been overwhelmingly supportive of utilising this blockchain technology to strengthen and expand communities. In recent years, the world has grown less social, and in many aspects of our lives, we lack a tightly knit community that would foster projects and educate other users to encourage mass adoption.

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