In just past few weeks since mainnet release on April 10 roughly 250 people made use of Snax, 30% of which are far from the crypto industry. Today we are happy to announce Snax integration of Steem. It is going to take place on May 14.
What is Snax: Snax is a blockchain which rewards people for the content they create on public social media and provides them with free instant transactions by social account name. As an overlay solution Snax can integrate any established public platform. It builds bridges between these platforms and brings crypto closer to the people.
Snax began by integrating Twitter. In only last 32 hours (which is how much takes Scoring Round for Twitter — the period needed to calculate rewards for a particular platform), we've distributed 30'000 SNAX tokens as free rewards between registered Twitter users. In total, 1'780'515'936 tweets were analysed to reward people for their social activity.
This colossal work of data analysis was made possible by a global team of 21 block producer from different crypto communities, few of them are from Steem: @dragosroua (snaxtopia), @crowdmind, @liberosist.
What does it bring to Steem?
We started focused on Twitter - one of the most prominent public social media. Now you can make posts on both platforms and gain SNAX as a return of your activity.
Few ways of how Snax could work in favour of both Steem and Snax agendas are outlined below.
Rewards
"Even if you're not considered a whale on Steem, you can still gain a decent reward."
Steem will account for 0.5% of the total rewards fund of SNAX tokens. Although at the moment, Steem is relatively small, it may gain more SNAX tokens in the distance if Steem users show interest in Snax and join it earlier than Twitter users read more about Snax token distribution
How do rewards work: you simply keep posting on any Steem-based platform (or Twitter, or any other platform integrated with Snax) and get rewards automatically for any content you've posted. There's no need to replicate content on an alien platform, as well as no need to create a paid artificial content - stay true to yourself. In the case with Steem, you will gain not only STEEM tokens but also SNAX ones without a single extra action.
Snax collects metrics of all your posts (number of comments, upvotes, who upvoted your post, how many people are registered on the platform at the moment and so on), processes them into a metric called Attention Rate and records it on a designated smart-contract. After the Scoring Round you will get SNAX tokens depending on how high is your Attention Rate relative to other platform users. To enjoy automatic rewards you only need to bind your Steem account with Snax blockchain account.
Snax doesn't take into account such platform-specific score as steem power in any way. It means that even if you're not considered a whale on Steem, you can still gain a decent reward and vice versa.
Instant and free transactions
"It doesn't matter whether the beneficiary of the transaction is registered on Snax: once they have logged in for the first time, smart-contract will automatically send them their tokens."
Snax provides Social Transactions mechanism, which works as an overlay above social platforms and enables you to send tokens to any user of social networks integrated into Snax just by their account name on that network. It doesn't matter whether the beneficiary of the transaction is registered on Snax: once they have logged in for the first time, smart-contract will automatically send them their tokens.
It may be particularly useful for those who have an active group of followers outside of Steem and wants to draw them into the crypto ecosystem, or for those whom eagers to capitalise their digital appearance further.
Smart Contracts and dApps
Snax blockchain based on dPos consensus with bandwidth of 1500 transactions per second, and provides smart contracts to build decentralised applications. Snax is like a programmable financial layer over social media, which creates excellent opportunities for developers to save many resources for building their applications.
Any developer who has the willingness to expand the crypto ecosystem and support the evolving dynamics of blockchain and Snax, in particular, is welcomed.
What's next?
More and more we'll bring you new social integrations - this will remain constant along with the goal to make the crypto landscape more welcoming for anyone. However, currently, our top priority is SNAX listing on exchanges and integration of Steem.
In terms of growth, we are partially relying on you, spreading the word about Snax. Bringing people in is a win-win scenario and for you, and for Snax blockchain as its value increases proportionally to the number of users registered on Snax.
P.S. We've got a lot of feedback that lack of mobile wallet seems to be a significant barrier to broader adoption. Worry not, we've directed some of our efforts into negotiating a deal with our friends who are going to develop a mobile wallet for Snax and EOS. We are already polishing details, so stay tuned to be the first to hear about it.
Bounty program
We want to encourage you to give Snax a try, that's why we are allotting 5'000'000 SNAX for a bounty program. Anyone who makes a post on Steem with a short review (from 1000 symbols) of Snax will get a share of that fund according to how much subscribers they have. You may check reward calculator to see how much tokens you will gain.
The program will take place from May 7 until May 31. Rewards will be distributed automatically starting from the date of Steem integration - May 14. For posts made after the release date, rewards will be distributed approximately the day after you post. Conditions are provided on snax.one.
After you post our oracle will find your article automatically and register you on the related smart-contract.
Full list of participants will be published on the snax.one website. If you haven't found yourself on this list or have any questions, don't hesitate to reach us in our Discord channel.
Did @snaxteam pay Steemit to spam this 'financial opportunity' to all users via "Featured Posts"?
Very good question.
Hi, We did not pay for "Featured Posts".
I think @andrarchy was inspired by Snax idea and believes that Snax can be useful for Steem, therefore "Featured Posts" was published.
Anyone else find it strange they use apostrophes instead of commas in their numbers?
It doesn't look like you guys support Instagram. Is that on the books? I have Twitter so I could do it that way but I have more followers on Instagram. resteemed.
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Thanks for resteemed. We are going to be integrating more social networks into Snax blockchain. You can find our roadmap here: https://snax.one/roadmap
We found several problems with reward of Instagram users, the main - Instagram is very closed for indexing. The second - we need a lot of resources to data mining cause there're tons of content, but we're still looking how can we do it. In additional we can't index Instagram posts without breaking policies Facebook. If Snax will grow exponentially, we could incline Instagram users to revolution for their right to be rewarded =)
This is great @snaxteam, I will sign up and make a post as soon as possible, thanks.
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Lol at '1000 symbols'
Too little or too much? :)
Not a good measure...
Its ok i guess...1000 words sounds better
It will be incredibly cool if you write a review of Snax in more than 1000 words!
lol nice...I'd make it 1700 just because you asked
jokiiiinnng
Just joined snax and i think its a waonderful app and its going to be excellent.
It's great news @snaxteam
Resteem for more visibility
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This is completely new to me I'll have to sign up.
Posted using Partiko Android
This is a good synergy.
Snax collaboration with #steem is a welcomed development.
Really looking forward to seeing this in action! More integration is needed to build the best attention ecosystem of social media!
Posted using Partiko iOS
100,000,000,000
I have heard of shitcoins before... This will be incredible!
What exactly can one do with these "Snax" tokens...
Hi, please tell me, why are you talking so rudely about Snax?
You can eat them and shit them out.. that is why they are called SNAX.. then they will be shit coinZ covered in shit.. wondering what they taste like? They currently come in three flavors.
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Very new to me,soon I join
Posted using Partiko Android
Interesting. You have my attention. What is the background of SNAX and the team? I can’t find any history
Posted using Partiko iOS
Snax is an international anonymous team.
The actions of the regulators are not predictable now, so we will be anonymous until we are convinced that the rules of the game are established by the regulatory authorities and are understandable.
WOOT, Great news to hear!
Sounds intressting.
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This is a step in front of the blockchain technology industry. Good work and the main thing is the convenience with which you can visit your favorite social networks and receive rewards for your content. Many thanks to the developers and everyone who takes an active part in the development of this project. Good luck to you friends
Sounds interesting, I'll try this out later.
Posted using Partiko Android
Everyone loves to try the snax! Costco gives out tons of samples.. you should try it sometime :D
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Nice move, but still the FAQ needs an expansive details for the background checks, maybe.
This seems pretty cool @snax . I signed up with my twitter account and will no wait for the steem integration. Good luck and I hope I can help do my part to make this a success!
Will surely try 😊
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I think it's rewarding people to create public social media content
You got a 22.35% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!
Hi, how much is SNAX token? Is airdrop still on for Twitter account? Thanks
Yes, air drop is still on for Twitter account.
Snax is not listed for trade on exchanges, but we are negotiating and working on it. Snax is a separate chain. It makes listing on exchanges more difficult, we need to build a bit larger community, but if we have about 1500 users, we can be added to NewDex, for example and, of course, we need an active community to push exchanges for listing us.
They run about the cost of a bag of Doritos.
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You got a 17.03% upvote from @spydo courtesy of @steemium! We offer 100% Payout and Curation.
You got a 19.24% upvote from @bid4joy courtesy of @steemium!
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How will it work if your already a twitter user does your account get linked?
sorry, I did not understand what do you mean?
@snaxteam I am locked out. I did the authentication on STEEMIT and TWITTER and got the 50 SNAX airdrop. Never saw the dozen or so word key tho, and now I am locked out.
It sounds like you are selling chips, pop, and perhaps laffy taffy.. dog rocket anyone?
Clever with the X at the end of the Snacks.. I mean yeah you could have been snacks.. or SnackZ but I guess adding a Z was way too 2015.. so SNAX it was... I can't imagine SNAX becoming the next Bitcoin though.. who was the founder Satoshi Cheetomoto
XD
ps if anyone wants to team up with me and develop the next big crypto I am about to launch SOKZ SMTZ
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