In October 2023, the cryptocurrency trading platform QKEx announced through its community that it will invest more energy and financial support in the decentralized social field, and will create an ‘exchange + community economy’ ecosystem to realize the uplinking of users’ community behaviors and the financialization of the social ecosystem.
QKEx is not the first project to come up with the concept of social economy, before that many decentralized social concept projects have been quite successful.
On August 10, 2023, Friend.tech, a SocialFi protocol based on the BASE chain, was officially launched, and no one would have expected that in just 12 days, Friend.tech attracted nearly 100,000 users to join, with more than 363,300 ETH, or about $62.2 million, in capital inflow.
Only on August 22nd, Friend.tech created nearly 2,000 ETH in protocol fees by itself, becoming the second highest fee-generating platform on the whole network that day, second only to Ethereum. It is the nature of investors to chase ups and downs, and the huge capital effect generated by Friend.tech has made countless users rush to try to catch up with the SocialFi craze.
New social outlet
Data shows that as of 2022, the number of global online social media users has exceeded 4.5 billion, accounting for about 70% of the total global population. When the crypto track is combined with the social field, it may burst into a huge capital and user effect, bringing stronger topic and wealth creation effect for crypto products.
As of now,decentralized social networking has shown strong power to attract money in the market, and Friend.tech and Tipcoin are among the leaders. With the emergence of popular applications in the social sector, and Friend Tech’s popularity has remained high, even Friend Tech’s imitation disk has attracted many users to participate. Many people describe the current social sector as having the explosion of DeFi at the end of 2020. Trends, social economy also seems to be becoming a new trend in the cryoto industry.
Exchange + Community Economy
It is undeniable that social products are one of the most valuable application scenarios in the Internet ecosystem. However, in essence, Friend.tech and Tipcoin are not “decentralized social” in the true sense, and they basically do not have “social scenarios” and ‘Social needs’.
Friend.tech and Tipcoin’s gameplay is more like ‘play to earn’ in the chain tour, need to rely on a constant flow of traffic to maintain the heat, but we all know that the market enthusiasm and user funds are not a cornucopia. Decentralized social networking wants to achieve Long-term development requires application scenarios that can retain users.
In contrast, the core value of the entire decentralized social field lies more in the community economy, that is, the exchange of private domain traffic, mutual exchange of assets, and knowledge dissemination. These are all parts that can create circulation scenarios and behavioral economies. But the question is how to convert community behavior into a social economy?
QKEx Exchange seems to have given the answer. At present, QKEx for the first time has proposed the concept of community economic ecology, that is, to realize the financialization of community behavior and the profitability of social value, that is, to create a COMMUNALFI ecology that can restore the entire community system to the chain.
QKEx, known as QK Exchange, is a global crypto-asset comprehensive service platform independently developed by QK Group in 2020, which has created a unified trading account and trading system, and can provide multi-sector businesses such as Spot contract, contract, Financing, HashRate mining.
Its parent company QK Group’s business covers QK Mining, QK Hot and Cold Wallet, Risk Control and other business segments, among which, QK Mining Center has provided processing and verification of cryptocurrency ecosystem transactions and mine derivative services to customers in many countries around the world. , full custody and overall operation and other mining-related services , and successfully won the honor of “Best International Service Provider for Russian Mining” in 2017.
The biggest difference between QKEX exchange and other exchanges currently on the market is that the platform proposes the new concept of CommunalFI for the first time in the industry. The platform advocates the implementation of community behavioral economy on the chain and creates a decentralized community economy and trading ecology.
It is worth noting that QKEX has very rich regional encryption resources around the world, and currently has independent operation centers in the United States, Canada, Russia, Australia, Estonia, Indonesia, Thailand and other countries, which means QKEX’s community resources are spread almost all over the world, enabling the large-scale implementation of decentralized social network.
Economizing Community Behavior
Of course, although QKEX already has community resources and sufficient financial strength, it is not a simple matter to realize the community behavioral economy on the chain and create a decentralized community economy and trading ecology. It is understood that QKEX is currently targeting the community The economic sector has made a two-step plan:
Step 1: add an independent social section and invite a large number of trading communities to join.
In order to encourage more communities to join the QKEX trading ecosystem, the platform will launch various community competitions from time to time and display monthly community rankings on the exchange. The higher the ranking of the community, the higher the value of its team leader’s rights.
At the same time, in order to encourage users to participate in community ecological construction, QKEX will implement user behavior economy. When users perform all social behaviors in the QKEX community map, including but not limited to chatting, posting, commenting, likes, transfers, rewards, etc., they can earn corresponding value return.
Step 2: Launch the COMMUNALFI functional section
This function will allow community team leaders to issue personal rights based on their own social value. The rights will be displayed in the form of limited NFTs. Once issued, the community leader’s interests will be automatically shelved on the trading market, and users can obtain community access qualifications by purchasing the community leader’s interests in the form of NFTs.
QKEx is the first trading platform in the industry to propose the concept of COMMUNALFI. Its platform aims to expand the future value and development space of the combination of exchanges and community economies, and become a pioneer in the new generation of trading and community platforms.
Media Contact
Company Name: QKEX Limited
Contact Person:Alan Liu
Email:vip@Qkex.com
Country: Seychelles
Website: https://www.qkex.com/#/home
Disclaimer:
The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor) before investing or trading securities and cryptocurrency.