Decentralised Dating Application

create a blockchain registry & engine which connects profiles sharing high levels of complementary attributes and commonalities.

Mario Muralles - Economist

Danish Hameed -  Full Stack Developer

Daniel Golman - javascript developer

Steven clarke  - Rust developer

This decentralised blockchain based dating application will be built in response to the vast dating applications that our team viewed as unethical, money seeking and ineffective dating services. Many dating sites have become corrupted, as is the case with most centralized services and utilize chat bots masqueraded as profiles that lure users into extending their subscriptions and thus increase revenue. A similar phenomena can be observed on tinder where many of the female profiles are fake. We plan to design an AI based engine that will feed from an immutable registry which will verify that users are real people as opposed to a bot or a scammer. The engine will filter profiles and match users with the partners who posses the correct mix of attributes, habits and goals in order to facilitate an optimal match. 

One of our main goals is to eliminate fake profiles, by only allowing those who stake their crypto to be members of the blocksocial network. More importantly, we want to make a dating application and community that effectively leads to successful matches with high affinity for one another.

Members are stakeholders in a Private pool.

In order to utilize the application, members have to stake BSX 

members of the social dating network get paid in the native token BSX

Penalize bad behavior by risking stake in the pool.

Membership benefits increase with tiered staking levels. 

Members are qualified by their stake as well as their behavior on the platform

Stake creates a rather selective group of people who are vetted and incentivized to care about their behaviour and stake (risk)

Objective is a large private staking pool that can facilitate add revenue, APY for members of the community (token holders)

Advertising revenue in crypto

We use a host of artificial intelligence features to improve matches. Instead of relying on just pictures and other's like-ability of your profile for determining who users match with we utilize a wide variety of metrics to assess a pair's compatibility;

verify social media status (followers), consult metamask/yoroi/web3 wallet balance, home ownership, exercise/nutritional habits, Biometrics, Passions & areas of interest, work experience, travel history, personality type & IQ, criminal record, educational level. 

blocksocial is transparent and committed to holders of the BSX token . Since it is a decentralized system, there is no centralized authority to spy on or profit from the users. The point of the application is very simple; create a rather selective network which facilitates matching between profiles sharing high degrees  of compatibility. 

People find a myriad of challenges in their journey of finding love and balancing their relationships. We believe this can be fixed by helping users find better matches instead of just falling for the "eye test" as well as suffering from a limited number of options. BSX solves this by eliminating fake profiles, and offering users a more robust algorithm (set of metrics) in order to find more appropriate matches. 

Tokenomics

Blocksocial (BSX) will have a token bonding curve where the price of BSX deterministically increases as the number of tokens minted increase. Conversely, the price of BSX decreases as people sell their tokens back into the curve and "extract" the liquidity (ADA held in reserve). When users decide to hold the BSX token, it signals that they see the use in the token, either as a substrate to power the BSX social network or simply as an investment vehicle. When users sell their BSX token back into the curve; meaning they get the ADA that is in reserve pool in exchange for their token, this signals that they value the profit they can get from the price increase of the token more so than the utility of the BSX token as a substrate to use the blocksocial network.

Total Supply: infinite supply where price of token increases as new tokens are minted

Token launch protocol - Token bonding curve

BSX is decentralised because asset value and marketing is independent of the developing team's involvement

The native asset, BSX, is necessary for the functioning of the network

No pre-mine or tokens allocated to the team or creators of project

No centralized authority issues project specific tokens and there's no limit to the tokens being emitted

The cost to buy project tokens is determined by the current supply of tokens (set by algorithm that's hard coded into the smart contract)

Deterministic and reliable; given the same input, it will have the same output

boost positive communication: rewards holders of the BSX token

hinders negative communication: penalizes bad actors on the network and allocates their stake onto BSX token holders

Benefits of a bonding curve

no centralized authority ISSUING project specific tokens and there's no limit to the tokens being emitted

Acts as an AMM

The cost to buy project tokens is determined by the current supply of tokens (set by algorithm that's hard coded into the smart contract)

Projects can be created and dissolved based on relevance and interest from the community. Early investors get rewarded while late investors pay a higher price for purchasing project specific tokens 

Staking function

Staking BSX is easy. It doesn't require any overhead, facilities, electricity bills, or hardware,

Because staking BSX is so easy, and there's rather decreased sell pressure on BSX price, GIVEN THAT you don't have to pay facilities, hardware, maintenance, electricity, decommissioning of old hardware and buying new.

Benefits of the BSX Token

REWARDS

 Users of the BSX network will get rewarded for simply matching. Our rewards will be paid in BSX. The objective is that reward incentives for simply matching will bring in more users as blocksocial will be the only dating app rewarding their users just for matching. The reward is given when 2 users get matched or accept an invite. Both parties must accept the invitation separately in order to claim the reward. This stops people from abusing the platform to farm tokens, or from illegitimately influencing their profiles.

User's stake will yield an APY; which further incentivizes staking as well as holding the BSX token, and thus participation in the platform.

Stake penalties due to bad behavior (nudes, verbal abuse, inciting terrorism/violence) are distributed to token BSX token holders.

Referral system based on a referral code which rewards those users who promote the platform, creating market virality.

GOVERNANCE (semi exclusive organziation)

BSX will also be used as a governance instrument on the platform, influencing updates and new features. BSX holders can submit and vote on upcoming projects / proposals, allocation of funds and events, thereby rewarding consistent users who get matches, earn  and hold BSX tokens.

Self sustainability of the platform will also be possible through BSX so users don't have to pay bills. Each Match Rewards claim will have a fee of 10% which will be used to pay the protocol's bills, eliminating the cost associated with the tool.

In addition, the BSX Protocol offers strong incentives for users to join the network with an efficient fiscal spending regime, managed by a Treasury, where multiple stimulus programs compete for financing.

proposals from community participants will be vetted by the rest of the ecosystem and, when approved, they will be financed with the objective to increase adoption and expand the potential use cases. The design of the BSX Protocol is deterministic; it is made to go up in price as more tokens are minted and this is fueled by the demand for the token which allows users to use the exclusive social network that is powered by the BSX token. This will lead to high adoption, both as network payment and as a store of value.

Loyalty and referral program

BSX will also be used to create a loyalty program. The more BSX you hold, the farther outreach your profile gets, meaning more users will see your profile. BSX has been designed in a manner that rewards you for using the dApp, and this sets it apart from other dating sites that remain static no matter the amount of use.

BSX tokens will be awarded if others click the referral link or use the referral code you provide. This is a proven strategy used by amazon, bitmex, binance, HEX, etc to bring in more users and create a network effect. 

Challenge

This application will help the Cardano ecosystem garner massive interest and liquidity because it will bring millions of people into the network for social, romantic and networking purposes. 

VR/AR dating function

Dating profiles live in VR as an NFT. You can send your matches NFTs or scan their QR code to verify what their intentions are (dating, friendship, networking etc)

SNC_Notes:

"Blockchain_Functions"

To sell location that are human readable

To sell objects that are gps-locked to user accounts

User ID is an NFT that can contain other NFTs or other metadata

Project budget breakdown

back end development: $6000

front end development: $1500

marketing: $2000

token economics audit: $500

*some of this project will be paid for out of pocket