KuCoin AMA With RepubliK (RPK) — The Future Of How Creators And Communities Connect

Dear KuCoin Users,

Time: December 12, 2023, 12:00 PM- 1:39 PM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the Lead Advisor of RepubliK, Richmond Teo in the KuCoin Exchange Group.

Official Website: https://republik.gg

Whitepaper: https://republik.gg/whitepaper/

Follow RepubliK on Twitter, Telegram, Discord and Instagram.

Q: Could you introduce RepubliK as a platform? What's the company's story?

Richmond: We believe that web3 is the future, and we have examined various industries to understand the impact of the shift from web2 to web3. While Apple and Google may continue to operate as centralized platforms, the same may not be applicable to social media.

Most creators on TikTok and Instagram do not earn any income from the platform. They do not benefit from its growth and are merely passive users. Consequently, there is no sense of community. Although these platforms have shareholders who seek to generate profits, we believe there is another way.

We propose starting with the idea that web3 communities have value, not just through NFTs but also as a group of individuals who create a platform with powerful AI engines and can attract regular web2 users. We suggest continuously rewarding users for their contributions, with big creators earning more, but all users receiving some benefits. In this way, everyone is a part of the community.

Our belief is that such a community will be beneficial to all creators, as they will not receive 100% of what they are paid. All users will receive better content, and there is no reason why such a community cannot be as valuable as Meta or TikTok. This is the basic idea behind RepubliK, and we have witnessed significant growth in users and community since coming out of stealth.

Twitter from 3K in Sep to more than 164K now.

Telegram from 0 in Sep to more than 105K.

Discord went from 0 in Oct last month to more than 53K.

Galxe went from 0 in Oct last month to more than 184K followers and 350K participants.

We launched tipping last week, and the usage has been exponential. Most other functions will be launched soon.

Q: Could you share more about what makes it so different in comparison to other Web3 platforms and projects?

Richmond: Unlike the typical one-time airdrop model in many web3 projects, RepubliK's approach to token distribution is designed for long-term sustainability and continuous user engagement. At the core of our platform is the RPK Token, which is fundamental to our ecosystem. What makes RPK truly unique is that it encapsulates the entire value of the RepubliK community – 100% of the platform's collected fees are redistributed as RPK tokens. Naturally, it's also the sole utility token and governance token.

Our model continuously distributes $RPK Community Rewards to active users. Distribution is based on the user’s contribution from using RepubliK like any other social media and is measured in XP (experience points).

Unlike traditional airdrops that occur as a one-time event, our Community Rewards are distributed continuously and daily to active and engaged users throughout RepubliK's lifetime. This ensures that our rewards align with user engagement and contribution rather than speculative activities.

Tokenomics is also designed to be fair and sustainable. The $RPK amount each user receives represents the percentage of XP you have on RepubliK. This is more equitable and encourages consistent participation and contribution from all users.

Everyone benefits from the platform's growth and success by continuously redistributing RPK tokens back into the community. This perpetual rewards model greatly contrasts the usual one-time airdrop strategies, often leading to short-term speculation and not necessarily encouraging long-term platform engagement. RepubliK wants to focus on building a thriving, active community where the value is consistently returned to its members.

Q: Why did RepubliK choose not to have a fixed XP: RPK conversion ratio?

Richmond: That's right, there is no fixed conversion ratio. The $RPK amount users receive from their daily community rewards represents the percentage of XP they have on RepubliK. For example, If you represent 1% of XP, you'll get 1% of RPK Rewards.

We chose to use a dynamic and fair model to offer everyone a share of $RPK based on their level of engagement on the platform, and the tokenomics must be sustainable and accommodate platform growth. The XP is not directly convertible for a few key reasons:

1. Your XP represents your lifetime contributions to the platform and is how we award bronze, silver, gold, and diamond tier badges. These badges provide XP multipliers of at least 10% and above to help accelerate XP growth, which in turn helps users get more $RPK the more they contribute. Essentially, XP was designed to facilitate awarding $RPK fairly and ensuring no one who is a genuine and active user gets left behind.

2. There is no fixed conversion, as XP is intended to encourage meaningful participation. It's not just about quantity; quality matters, too. Engage and interact, refer friends, support creators, and enjoy the App – these all contribute to your XP, increasing your RPK rewards.

3. This also encourages long-term community growth – RepubliK wants to build a long-term relationship with a community and rewards pool that will continue to grow.

4. As the RepubliK platform grows, the rewards pool grows, too, as the value of $RPK is bigger for all holders. This means the potential for earning has no limitation.

Q: RepubliK is also known for its unique beliefs in building the platform and rewarding users that some might find "going against the norm." Could you share more about it?

Richmond: We have a very strong dedication to improve platform performance and user-reward experience which is a reason for our community's strong confidence in us. Our willingness to prioritize combatting bot activity and maintain fair RPK distribution that we know will affect our real users over time can speak volumes.

Despite all the noise from bot farmers, we've recently conducted an anti-bot crackdown and removed approximately 800K bots from our platform. To some extent, they create some form of repetitive engagement on the platform that might "look beneficial" to us. They degrade user experience and pose a risk to our genuine users, who will be getting daily Community Rewards.

To further safeguard our community's interests, we've also adjusted the XP earned by accounts that referred to bots. RepubliK has promised our community since Day 1 of receiving all the bot reports from everyone that we will ensure that rewards go to actual contributors and not bots. We've decided to stand by our community. Like all platforms, RepubliK is consistently making necessary changes and improvements to strengthen the platform's tokenomics and security.

We are not one to be resilient towards change that can only be fixated on what we've publicly announced we would do. As we grow, if the structure has to be improved or better measures could be implemented for fairer value distribution, we will do it and announce it. That is one of the key reasons that has proven highly popular with our crypto-community. The flexibility of the platform, the team and the willingness to be explorative gives users confidence that we are always developing and adaptive.

Q: Could you share more about the initial scale of RPK airdrops and how this correlates with the future value of the RPK Token?

Richmond: Unlike typical one-time airdrops, RepubliK's $RPK Community Rewards are small and designed to be daily and continuous, so real and active users will accumulate RPK throughout the platform's lifetime. As our platform develops an increasing amount of utility and governance functions, our community will grow, which means the value of $RPK that each user receives daily and holds will also rise! We have recently published our latest product roadmap on X.

While individual Community Reward amounts might seem small initially, they are, in fact, part of a larger and highly sustainable ongoing reward system. This means active users can receive passive income over time from the accumulation of daily Community Rewards because of their consistent engagement and contribution.

We strongly believe in long-term value over short-term gains. That means as RepubliK grows and succeeds, the value of each RPK Token that our community holds will reflect this in the long term. That is also why we are focused on new features for engagement, including community staking pools, marketplaces, and creator tokens in the roadmap, which enables the utility of RPK Token to increase. Remember, RPK is a governance token where our community holding RPK can vote on platform and content-based decisions. All of this utility in RPK is expected to impact its value positively. That is why we always encourage our community to look at the broader picture of platform development and how it benefits them in the long run regarding the RPK they hold and the daily Community Rewards they will receive.

Q: How will RepubliK bridge the gap between Web3 tech for the Web2 creators and users?

Richmond: We've heard feedback from our community that they want to onboard their Web2 creators, friends, communities, and families but are concerned that the socialfi industry has not been the most web2-friendly. We know the challenges Web 2 users face when entering the SocialFi / crypto space and have designed the platform to support our community and help bridge this gap effectively. Our approach is two-pronged, focusing on both simplicity and security.

First, the platform is designed to create familiarity with mainstream social media apps. Users are also not required to connect Web 3.0 wallets to engage with RepubliK. To facilitate transactions, we've adopted a system similar to centralized exchanges where users can easily deposit and withdraw funds by providing their addresses, similar to how they would interact with a traditional online platform. This will eliminate the complexities associated with decentralized transactions.

RepubliK will also partner with Fireblocks to ensure that user funds are managed safely and securely, providing confidence among users unfamiliar with crypto security, and partnering with TON Network so $RPK can be distributed easily through Telegram. We have partnered with Mantle (layer 2) for rapid, low-cost, secure transactions. Understanding that many Web 2.0 users may not own ETH, RepubliK has enabled gas fees to be paid in RPK. This will simplify transactions and make them more accessible to a broader user base.

While many SocialFi platforms focus primarily on tokenization, RepubliK will continuously develop a broader range of monetization tools familiar to Web2 content creators, such as subscriptions, exclusive content access, live streaming, and more. This enables creators to diversify their revenue streams, build more sustainable careers, and seamlessly introduce their Web2 communities or fanbases to participate in the tokenomics of the platform. The final piece is how both web2 & web3 users can grow and earn. All content on RepubliK has a unique link. Sharing that content with anyone is a referral to the user who sent it. So, the experience is very organic. They were sharing interesting content with your community and friends. Grow and earn with the RepubliK platform easily. This is a key way users have been able to grow XP and earn $RPK with us.

Q: RepubliK has recently released an in-app wallet, named the "Vault." Could you share more about it?

Richmond: The Vault serves multiple purposes. It's an in-app wallet where your continuous $RPK daily community rewards are sent to you. It also helps users track transactional histories on the RepubliK platform. This is especially useful as users can now conduct tipping to their favorite creators and support content they like.

Shortly, with our monetization tools, such as unlocking paywalled and exclusive content, livestreaming, or even our nft and retail marketplace, this will be indispensable for creators and users to track their earnings. You may check this out to learn how to tip.

For users to access their Vault, we have just released our facial liveness check, a one-time-only check that all users must complete. Like its name, "liveness," it detects your features as human and asks you to do simple actions like move your phone closer or further to ensure you are a human gaining access into your Vault and not bots or using an image.

The Vault is not just an $RPK Vault but also an XP Vault. It shows users their current total XP, badge tier, and the XP multiplier they are getting based on their badge. It also includes a list of XP missions they can conduct on the platform to help them earn more XP - like a checklist! The Vault also helps them track their daily logins, as users with a 7-day login streak are also awarded bonus XP. The Vault for XP and RPK is newly released, so give it a whirl. Users will be able to conduct withdrawals and deposits this month! You may check the Vault here.

Q: Is there anyone this platform isn't really suitable for, and when is it really too late to join RepubliK?

Richmond: Yes, some people are not suitable to use the RepubliK platform - bot farmers and airdrop hunters looking for a quick payday. This is mainly because of our tokenomics being daily and continuously given to active and genuine users, and our anti-bot crackdowns. Now that being said, it is never too late for these two types:

Creators: People with a passion seeking new, alternative ways to earn from their content. It could be memes, crypto, dance, fashion, food, education - the sky is the limit here. They may have an existing following on other platforms but are looking for a more sustainable model where their value won't decrease as their audience changes interests, or may even be people reading this who have decided 2 seconds ago that they want to build a community of their own and earn passive income over time. They may also be creators who are thankful to their community and would like to provide incentives or rewards for their fans or believe in fostering a real bond and closer interactions with them.

Social Media Users: People who are already interacting and scrolling on social media (who isn't?) who believe it's high time that everyone is rewarded for making these social media platforms and creators popular in the first place. Users who are looking for a more engaging and interactive media consumption experience where they can support the content and creators they love and connect with others freely.

The reason why it's never too late? Daily continuous community rewards as long as you are an active and engaging RepubliK user! Give it a whirl, use it just like you would any other social media, and you'll start to find RPK coming in. We've got lots of web2 users who've just been using it to post photos, store memories and are surprised to find they've been racking up RPK every day - all of a sudden they are a part of web3.

Talk about a seamless web2 to web3 bridge! RepubliK is available on the Web App (Save it as an icon on your phone or desktop) and for download on your Google PlayStore or Apple App Store. If you follow me, I might give you a tip.

Q: Are there any strategies to attract investors outside the crypto industry to join your project?

Richmond: We have more non-crypto users. We're video and photo-based. The largest users are web2 influencers. We offer significant value to existing web2 creators, making it much easier for them to bring their audience on. Because of our web2 reach, our user base is much higher than any socialfi project.

Q: As an investor or user, what features of the RPK project would attract me to invest? What aspects of the RPK project would appeal to me?

Richmond: As a user, getting great content, interacting with people you follow and getting RPK tokens. As an investor, the fees collected in RPK are quite substantial. That will be burned or redistributed while the token supply is very low. It's attractive because if successful, the value can be extremely high. It's not merely tech, blockchain, or AI. It's a combination that creates a great experience for millions of users.

Q: A solid marketing strategy is crucial for the success of any project. What is your plan for expanding your relationships and building communities in English-speaking and non-English-speaking countries? Are there any limitations or restrictions that you need to consider?

Richmond: RepubliK currently comes in 4 languages, and we will add more over time based on demand. We want to be a truly global platform that practices inclusion and stays away from politics. So it's about more than just English speaking or not. Our AI will target enjoyable content for you and cross data points so we know your interest. Photos and videos aren't language-based but interest-based, and we can unite the world through entertainment.

Q: Do you have any official social media channels, like Twitter, Telegram, or Discord, where I can find the latest news about RPK? I've encountered several fake groups on Telegram and Twitter, so I'm following the right ones. Can you provide the links to your official channels?

Richmond: Here’s the link to our Official Social Media Channels:

• Whitepaper

• Website

• X (Twitter)

• Discord

• Telegram

• Instagram

Q: Scalability has been a challenge for some blockchain networks. How does your project plan to address scalability concerns, especially as user adoption increases?

Richmond: We don't put everything on-chain. Unlike socialfi projects that aim to put social graphs and content chains, that's not our immediate goal. So we can scale much faster. We're currently on ERC20 but will be adding more chains to lower the cost of transactions. We've only minted 200m tokens to date, a tiny fraction of our max supply, a lot of room to mint on cheaper and faster chains.

🎁 Participate in the RepubliK AMA quiz now for a chance to win 330 RPK!

The form will remain open for five days from publishing this AMA recap.

KuCoin and RepubliK have prepared a total of 52,050 RPK to give away to AMA participants.

1. Pre-AMA activity: 22,730 RPK

2. Free-ask section: 8,500 RPK

3. Flash mini-game: 10,410 RPK

4. Post-AMA quiz: 10,410 RPK

Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.

Follow us on Twitter, Telegram, Facebook, Instagram, and Reddit.