Touch Social is a cryptocurrency application that pays users for posting and interacting with content on the platform. A few platforms of a similar strain have been created in the past and have briefly seen success, but what is Touch doing differently and how does it all work?
Where does the money come from?
The age-old question of where does the money come from, a discussion that usually leads to others such as; “What is money?”, “What is value?” and “What is the federal reserve?”. To put it in simple terms, Touch users are rewarded a cryptocurrency called the Touch Social Dollar (TSD) for the posts on the platform. This currency is algorithmically generated by the platform based on the amount of content created as well as the expected rate of inflation. Using the blockchain means that this currency can only be printed by these predetermined factors, and it is immutable.
What is TSD worth?
TSD is essentially a stable currency used within the Touch Social ecosystem. In our current release, TSD is unable to be transferred, however, this will be changed in a future update. TSD will then be exchangeable for TST on our internal exchange. The exchange rate will be determined by the users, with the rate of printing set to keep the price stable.
How are rewards calculated?
Touch Social features a unique ranking system for its content and users. Problems with other platforms generally arise from accounts called “whales”. A whale is an account with a lot of followers/power on the platform and essentially dictates where rewards are sent out.
On Touch, all content interactions are worth the same amount no matter the account. This means that having someone popular follow you does not mean you will be earning more than other users on the platform. To further incentivise good content creation, the amount of TSD a post earns is based on how many views the content received.
Your content needs to be interacted with in order to be worth something on the platform. After a 5 day period, the amount of likes and comments are compared to the amount of views, then the rewards are split between the creator and curators.
What does influence do and why should I stake TST?
Influence is earned on Touch at the same time you earn TSD. It is essentially experience points and is used to level up your account on the platform. A higher account level translates to more payouts, with a user receiving 1% extra rewards from payouts per account level.
Staking TST temporarily boosts this level, allowing you to earn more on the platform while staking. Staking will also feature dividend payouts in a future update, allowing users to earn TST as well as extra TSD and influence for staking.