The Social Media Platform Allows Users To Interact In A More Open And Trustworthy Environment
Social media, nowadays, lacks a serious component in its framework – authenticity. Currently, everybody can create, manage, and use numerous accounts, without really knowing who is behind the avatar.
Waivlength aims to solve this issue by implementing a know-your-customer (KYC) solution, which will eliminate the biggest headaches of modern social media – duplicate accounts, bots, and anonymous trolls. This way users can interact in a more open and trustworthy environment.
The project will integrate with existing KYC solutions to manage the user verification process. Personal data, used in the verification process, will not be monetized or sold to external businesses or advertisers.
The problem with data leakage really took off with documentaries such as ‘The Great Hack’ regarding the Cambridge Analytica data scandal and ‘The Social Dilemma’ about the dangerous human impact of Social Media. Those privacy-related films have highlighted the need for an emerging platform that can bring together only the best aspects of social media.
The platform would offer the same functionalities as mainstream social media platforms, like creating and sharing text-based, image-based, and video-based content publicly, among friends, or with selected individuals or groups.
The platform would also facilitate a private messaging service, which enables users to choose whose content they want to see. Further feature implementation and service updates are set in Waivlength roadmap.
The team behind Waivlength plans to revolutionize the user interface to produce a fresh new way to interact with the platform. Mainstream social media platforms all suffer from a very linear approach to content consumption. Waivlength aims to break down the linearity with a state-of-the-art user interface for easier and tailored to each individual user experience.
The backbone of the platform is the WAIV governance token. It is operating under Binance’s BEP-20 token standard. The tokenomics of the governance token suggest a deflationary model, meaning the total supply is finite, and constantly shrinking down. A 10% tax for WAIV transactions is implied, but as with other deflationary projects like Safemoon and Elongate, the tax is divided into three sections. 50% of the tax would go back to WAIV holders, while 25% would ensure there is enough liquidity in the WAIV liquidity pool. The rest would be relocated to the burn address, community giveaways, marketing, and charity.
A total of 1 Quadrillion WAIV tokens were put as supply, with 40% dedicated to the pre-sale (400T), 20% dedicated to PancakeSWAP liquidity (200T), 20% burnt (200T), and 20% locked for 6 months for future development (200T).
In order for users to buy WAIV tokens, they have to do it on PancakeSwap v2. The platform’s team, however, plans to keep pushing the project on various exchanges and listing sites, such as CoinMarketCap and CoinGecko. Furthermore, Waivlength would collaborate with influencers and future ambassadors for the project, as well as attract investors and VC funding to inject more capital to accelerate the project.
The roadmap includes activities like finalizing the front-end concepts for the social platform, continuing marketing strategies, targeting partnerships with bigger influencers, establishing connections with venture capital funds, as well as launching the platform in November 2021.