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Friday, 9 March 2018

SAPIEN NETWORK ICO REVIEW

SAPIEN NETWORK The human network for decentralize social news platform

WHAT IS CRYPTOCURRENCY?
I first heard about Bitcoin in 2012 but i didn’t “get it.”
Terms like decentralized, distributed and blockchain catches my interest, but I lacked the technical understanding to really understand what I was looking at.
I started reading up a bit more in 2015. However, only after a deep dive over the last 1 year do I feel like I’ve even begun to wrap my head around it.

A cryptocurrency is a form of payment which is similar to the currencies commonly used such as United States Dollar or the British Pound. However, unlike these currencies, cryptocurrencies are decentralized. There is no central government to print more of them out to cause inflation. In fact, cryptocurrencies have been formulated to gradually decrease in production as time goes by. Bitcoin, for instance will never have over 21 million coins in dissemination.

What is token? 
A token is a representation of value, a sort of digital asset (dasset). The Ethereum developers decided to standardize this process, and so the ERC20 ‘Token Standard’ was created. This templated-contract standardization contains a series of functions that enables the issuance, distribution and control of the assets in a formalized, standardized manner.
A token standard allows for the ease of interoperability between DApps (decentralized applications built on the Ethereum public chain) and the tokens built by the programmers.

Sapien is a highly customizable, democratized social news platform capable of rewarding millions of content creators
and curators without any centralized intermediaries. Sapien is powered by an ERC20 compliant cryptocurrency
called SPN. The Sapien network will rapidly evolve to include a marketplace, various integrations, and third-party
applications.
Core Values
1. Democracy – Users should have the final say over their communities and should be incentivized to contribute.
2. Privacy – Targeted advertising is profitable but inherently flawed because it exploits user data and infringes on
user privacy.
3. Free Speech – A fundamental principle that should be protected online with disruptive tools.
4. Customizability – Each user should be able to tailor a social experience to their liking

WHY CONTRIBUTE?











Once implemented, they believe that SPN will be one of the most versatile tokens in the online space. Not only will
the SPN token be immensely useful within the Sapien ecosystem, SPN will also facilitate creating and transferring
value within and beyond the platform. Fake news will be greatly mitigated with secure identities on the Blockchain
and an extensive reputation system. SPN will be the backbone of every social action and transaction that happens,
embedding its growth potential in the expansion and adoption of the platform instead of any arbitrary fluctuations
in the crypto market. Content creators will truly have a viable means of earning rewards without being exploited by
centralized entities. Users will finally have a real voice in collaborating and shaping the community they want to be
part of. By leveraging the latest Blockchain technologies, they can work together to build a platform that is immune
to censorship, guards their free speech, respects their privacy, and persists content throughout humanity’s existence.Join here


SPN TOKEN



In order to encourage stability of the SPN token, the longevity of its platform, and the curation of good content,
Sapien will allow tokens to be staked to access social features on the platform. SPN tokens can be staked for a period
of 1 year. Staked tokens can be used to upvote content, vote on proposals, submit new proposals, tip, and access
premium branches, and much more. On the other hand, unstaked tokens are liquid: unstaked SPN will be easily
transferrable out of Sapien and tradable on exchanges. Staked SPN tokens do not necessarily get consumed in platform transactions. Rather, consider them “locked up” for platform actions. For example, the platform will at first require 10 staked SPN to make a new post on the platform.
Initially, exactly 10 SPN will be returned to the user at the end of the voting period for the post. When SPN payouts
are integrated, it would then be possible for the user to receive back more than 10 staked SPN. However, if the user
posts illegal content or violates community guidelines, it would be possible to penalize the malicious user by freezing their staked SPN.join now

Presale

  • Dates: January 31 - February 15
  • Token Exchange Base Rate: Phase #1 rate +20% (final exchange rate will be fixed closer to presale)
  • Currencies Accepted: ETH
  • Tiered Contribution Structure:
    • >$250k: +45%
    • >$100k: +35%
    • >$50k: +27%
    • >$10k: +23%
    • <$10k: +20%
  • Token Distribution: Smart Contract will distribute tokens after Token Sale Phase #1 is complete
  • Minimum Presale Goal: No minimum

Crowdsale

  • Dates: March 20 - April 3
  • Total Hard Cap: 30,000 ETH
  • Currencies Accepted:
    • ETH: Natively supported.
  • Token Exchange Base Rate: 1 ETH = 6000 SPN
  • Bonus Structure:
    • March 20 - March 21: +15%
    • March 22 - March 23: +12%
    • March 24 - March 25: +9%
    • March 26 - March 27: +6%
    • March 28 - March 29: +3%
    • March 30 - April 3: no bonuses
  • Issuance Rate: All new tokens will be distributed to value creators within Sapien

How to contribute?
  1. Firstly, the details will be released closer to the presale, related to the contribution portal.
  2. Then you can send ETH from your personal Ethereum Wallet using Metamask, MyEtherWallet, Parity, Mist.
  3. The Gas Limit is 200,000 and maximum gas Price is 50GWei. The platform will automatically reject any amount excceding this limit.
  4. Restrict yourself from sending funds from exchanges like Coinbase or Poloniex.
  5. Also, avoid sending funds before the crowdsale begins, if done so, consequently the funds will automatically be rejected.
  6. Smart Contract will distribute tokens after Token Sale of phase1 is complete.
The future prospects of Sapien are vivid and extraordinary. It is planning to build out a developer platform powered by SPN. It will offer users app integrations and allow external apps to leverage their user base. They will also launch a Sapien API to bring in a row applications with SPN. They will also permit the users to exchange and make purchases with a unified currency. The tether virtual items in integrated applications with the real world value of SPN will also see the light of the day. They will establish a global reputation network on integrated platforms to bring down the platforms which deliver fake news. They aim to build a democratized social platform which will benefit its users, as the platform is powered by a flexible cryptocurrency. Also, the token SPN, is built on the Ethereum Blockchain.
For more details visit

Author profile:https://bitcointalk.org/index.php?action=profile;u=1440215

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