Scarcity — A DESCO to Revolute Traditional Social Media Platforms

Coinstore
4 min readMar 25, 2024

What is Scarcity and what does it solve?

Scarcity is a DESOC(Decentralized Social)media platform, offering a decentralized platform designed to address the inherent shortcomings of centralized counterparts while harnessing the transformative potential of blockchain technology. Scarcity’s ecosystem is built on the principles of transparency, autonomy, and user empowerment. Unlike traditional centralized platforms like Facebook or Twitter, Scarcity operates on a decentralized infrastructure, where control and ownership are distributed across a network of nodes rather than centralized entities. This decentralized approach ensures censorship resistance, data sovereignty, and privacy protection, empowering users to reclaim control over their digital identities and interactions.

Scarcity is driven by a commitment to fostering inclusive communities, facilitating meaningful connections, and rewarding user participation. Through innovative features such as token rewards, non-fungible tokens (NFTs), and decentralized governance, Scarcity incentivizes user engagement and content creation, creating a vibrant ecosystem where every interaction is valued and rewarded.

Token Overview

  • Token name: Scarcity
  • Token symbol:SCARCITY/USDT
  • Total supply: 10 Billion

Scarcity Token is a utility token and governance token that enables Scarcity decentralized social media platforms to grow and run smoothly. Scarcity aims to create a vibrant and sustainable ecosystem where users are incentivized to contribute, engage, and collaborate. The utility of Scarcity token includes:

  • Protocol transaction fees: Users earn tokens used on the platform when they post and monetize their data and advertisements. Transaction fees when those tokens are converted and exit to external exchanges generate revenue.
  • DAO: Scarcity Token holders can become DAO members, who are Scarcity owners themselves. They determine the critical direction of the platform, contributing to the token price and sharing in the profits.
  • Fee buyback and burn: 50% of all revenue generated by Scarcity is used to pay for monthly buyback fees. We plan to burn the tokens after the buyback to control token inflation and create a virtuous cycle of revenue that increases token value.
  • NFTs: Within social media, profiles are symbolic and essential. In addition to the symbolism, all the material and data you post will be stored in your profile, which is tamper-proof.

The token is allocated like below:

  • Reward: 35%
  • Foundation : 15%
  • Private sale : 10%
  • DAO: 10%
  • Ecosystem: 10%
  • Marketing : 8%
  • Team & Partner:7%
  • Reserve:5%

Key features of Scarcity

  • Data ownership:In Scarcity, your data is yours, stored securely on the blockchain. You decide who can access it, for what purpose, and for how long. This empowers you to control your digital footprint and avoid the exploitative practices of centralized platforms.
  • Privacy protection:Scarcity addresses privacy concerns by implementing privacy-enhancing technologies and cryptographic principles. User data is encrypted and pseudonymized, protecting it from unauthorized access and surveillance.
  • Content monetization: Unlike centralized platforms that pocket most of the ad revenue, Scarcity rewards you directly for your content creation and engagement. Through token rewards and non- fungible tokens (NFTs), users are incentivized to create and share high-quality content. Token rewards are distributed to users based on their contributions to the platform, providing them with tangible incentives for their participation.
  • Enhanced security: Scarcity mitigates security vulnerabilities by leveraging blockchain technology and decentralized protocols. Data is not stored on centralized servers, eliminating the risk of single-point-of-failure attacks. Distributed storage across the blockchain makes Scarcity more resilient to hacking and data breaches, safeguarding your information.
  • Community based reliability verification system: To prevent information manipulation and fake news, decentralized social media platforms build community-based reliability verification systems. Users can identify fake news and increase the platform’s reliability by verifying the authenticity of information within the community and sharing reliable information.
  • Community based content filtering:Decentralized social media platforms introduce community-based content filtering systems, allowing users to freely search and share content they want. This can enhance communication and understanding among users by providing content that reflects different opinions and perspectives.
  • User focused advertising model introduction: To address the dominance of advertising and ad bombs, decentralized platforms introduce user-focused advertising models. Users have transparency and control over their data, and can be rewarded even when exposed to advertising.

The futures

While it’s still early days, DESOC’s potential to disrupt the market and address user concerns is worth watching. Not enough and ineffective existing platforms create opportunities for Scarcity to become a big player in the decentralized social media market. Scarcity stands out with several key advantages

  • Custom blockchain technology: Scarcity’s purpose-built blockchain offers scalability, security, and features specifically tailored for social media applications.
  • User experience and community building: Scarcity prioritises intuitive design, engaging features, and community-driven governance, fostering a vibrant and inclusive platform.
  • Data privacy and user empowerment: Scarcity’s core values are built around user control and transparency, resonating with privacy-conscious individuals and creators alike.

Scarcity Official Media

Website | Telegram

About Coinstore

Accessibility. Security. Equity.

As a leading global platform for cryptocurrency and blockchain technology, Coinstore seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 7million users worldwide, Coinstore aims to become the preferred cryptocurrency trading platform and digital service provider worldwide.

Coinstore Social Media

Twitter | Discord | Facebook | Instagram | Youtube |
Telegram Discussion | Telegram Announcement

--

--