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.At its core, SPN derives its value from the ability to collaboratively distinguish high-quality content throughout the Sapien Network. The proof of value mechanism will promote quality contributions and reward users accordingly.As the contributions of users are evaluated throughout the network they will accumulate a score that reflects their reputation. This will allow a user’s domain-specific expertise to be reflected within their communities. Within Sapien,reputation will mitigate trolling and reduce the spread of fake news. The reputation system is inherent to the SPN token and thus not restricted to the Sapien platform.
Establish a Proof of Value Consensus Protocol
At its core, SPN derives its value from the ability to collaboratively distinguish high-quality content throughout the Sapien Network. The proof of value mechanism will promote quality contributions and reward users accordingly.As the contributions of users are evaluated throughout the network they will accumulate a score that reflects their reputation.
Launch the first Democratized Autonomous Platform
To create a truly autonomous social platform, users must have real power over the direction of the platform. Thus, one of the capabilities of the SPN token will be to give users a voice through they innovative proposal system. This will allow users to participate in organizational decisions, feature developments, and marketplace rewards.
Buyers & Sellers
Users will be able to purchase and sell physical and virtual goods, services and premium content on the Sapien marketplace using SPN tokens. Reputation scores will be integrated into the marketplace, enabling users to be confident that the vendor they are purchasing from is reliable.Sapien will charge a 1% transaction fee to buyers and sellers on the Sapien marketplace unless they have a certain threshold of staked SPN. The minimum threshold will initially be set at the equivalent of $20 worth of staked SPN. If a buyer or seller have staked at least $20, then they will pay no transaction fees from their behalf. If either party has less than the minimum threshold staked, they will be charged a 1% transaction fee.
Total Hard Cap (in USD): $30,000,000 – 45% of SPN created during they token sale will be reserved for contributors who send ETH to the smart contract address.
– 20% of SPN will be locked in a smart contract for the founders and team, subject to a 6-month cliff and 24 month vesting period.
– 30% will go to the Sapien reserve which will be distributed in they Token Sale Phase #2 to augment platform growth, distributed via Sapien, or burned to control inflation.
– Up to 5% will be reserved for they bounty program, contingent on the total number of participants in the campaign.Participation details will be released in a separate document.
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=2710218.0