The new Decentralized Finance (DeFi) discussion forum allows users exchange futuristic fintech ideas and monetize them
Kava Labs, an emerging Decentralized Finance (DeFi) platform for major crypto assets, opened its self-governed community on Commun, the Web3 technologies-based social media resource has announced today. The new community will allow cryptocurrency enthusiasts to post news, build alliances and monetize ideas.
“We are excited to open a new venue for the DeFi folks,” said Commun CEO Marina Guryeva. “Kava is an emerging leader in this space, and we are looking forward to helping them attract followers, get new concepts and build strong ties with other players in this very dynamic space.”
Kava, like all other communities on Commun, will have its own points – Kava Points. They could be used to vote for content within the community and, in the near future, to pay for different community offerings. They can also be converted into Commun tokens via Bonding Curve mechanism.
To celebrate the new community launch, Commun provides a gift of 30 Kava Points to every Kava’s Telegram channel subscriber who will register on commun.com and subscribe to Kava Community there. 1 M Kava Points to be distributed in this manner. The easiest way to claim Kava Points is to use a telegram bot – t.me/commun_bounty_bot.
“It’s a showcase of what social networks based on decentralized communities can do for the emerging as well as established brands, not just in blockchain space, but in any field,” noted Ms. Guryeva. “Our concept encourages active participation, promotes feedback, and improves brand recognition.”
“We believe Commun provides a great way for our community to come together and share ideas, all while earning for their contributions” said Brian Kerr, CEO of Kava. “The fact that we have a resource that by its design eliminates constant threats of member abuse or de-platforming for frivolous reasons gives us additional confidence to build an ecosystem where decentralized finance and decentralized media will thrive together.”
Commun is the first Web3 social network to launch since interest in the technology was piqued following an outcry over censorship, de-platforming, and data-selling by social media giants. As a decentralized network built atop a blockchain layer, Commun places control in the hands of its users with limit options of censoring content by community leaders and no possibility of freezing funds.
Commun provides a way for creators to own their content, interact with their fans, and directly monetize without reliance on third-party processors. It provides web users with a place where they can interact and participate in their community management. Communities can set their own rules, and reward users for activities while controlling their data and personal identity.