Sapien Network has announced the release of its Rewards Engine, celebrating yet another major milestone for the project. The project has spent the last few months tweaking and expanding its platform to support its objective of becoming the premier decentralized platform for social networking, following the introduction of new features and partnerships with other projects.
Sapien Network CEO, Ankita Bhatia, sees the Rewards Engine as the cornerstone for all future activity:
With the release of the Rewards Engine, the Sapien Team is delivering on the first value proposition of a tokenized social network – rewarding users fairly for their contributions to the network. This engine will lay the foundation to incentivize the creation of high-quality content while discouraging fake news, bots, trolls, and more.
The Rewards Engine is a critical part of Sapien Network’s overall mission to combat fake news and encourage quality content on the internet, which, in turn, helps them achieve their vision of ushering in the age of “Web 3.0.”
With the proliferation of fake news and “clickbait” content, Sapien hopes that their Rewards Engine will give the masses the tools they need to help them build their idea of what the internet should be like. It is the first step in the long journey to create a level playing field for users, content creators, and advertisers.
What is the Rewards Engine?
Since the launch of the Beta, Sapien has seen several thousand posts and comments. The Rewards Engine will act as a measure of quality for social actions on the network, allowing users to stake SPN tokens when creating posts, commenting, and liking, and consequently earning tokens as a reward for honest social actions.
The team is encouraging the idea of users being the value creators of the network by rewarding active users thus, resulting in a more active community with better content. The self-perpetuating loop gives users control over what content is influential, which is in direct opposition to the advertising-driven social media networks of today.
To ensure that the compensation system treats content creators, curators, and users fairly, Sapien features a variety of ways in which SPN tokens can be earned, including:
- Creating or curating quality, original content by posting about topics of interest, sharing pictures and videos, news, or simply sharing one’s thoughts with the community.
- Upvoting or downvoting posts.
- Commenting on posts and adding thoughts to a discussion, giving feedback or simply having fun commenting on a subject with other Sapien members.
How to Earn SPN Tokens Through the Rewards Engine
Staking on the Rewards Engine is a straightforward process.
Follow the steps below to get started:
1. Create an Account on the Beta Platform
The first task will be to create an account on Sapien’s Beta platform. The team has clearly explained how to register and use the platform on a blog post. If you’ve already got an account, you can move onto the next step.
2. Acquire SPN Tokens
You’ll need Sapien Network (SPN) tokens in order to stake them and earn rewards. However, the first week allows new users to create content and explore communities without needing to stake any tokens. After that, however, users will have to stake 100 SPN tokens in order to continue. You can learn why staking is important and necessary to the Sapien platform by viewing their 8 Pillars of SPN Staking presentation.
Sapien recently had their token listed on the LAToken exchange, however, it is also available on decentralized exchanges, IDEX and Radar Relay.
You’re now almost ready to stake your SPN tokens.
3. Stake SPN
You can stake your SPN tokens in 2 simple steps. This is to incentivize users to behave ethically and post accurate content.
Sapien has created a tutorial that runs you through the process of staking tokens. SPN is locked in a smart contract which is progressively unlocked over a year.
The Rewards Engine follows the launch of a mobile app and a reworking of the interface of the platform. While there exists a usable platform at the moment, the team is gearing up for an intense 2019, which will feature the significant developments of a Democratized Autonomous Platform (where users can vote on roadmap proposals), a larger marketplace, and scaling to a million users.