The power for distributing information has fallen into the grip of centralized platforms for a long time, and we are determined to change it.
RSS was the first information distribution protocol that got massive adoption - it was prominent in the time when datasets were decentralized and permissionless. But these changed when centralized data monopolies came into play. These giants provide services to users with extremely low entry barriers and accumulate money and power by controlling the flow of information by acting as broadcasting centers. In order to revolutionize the status quo, a new protocol that makes every cyber persona its own information distribution center is needed. And that is why we started to build RSS3.
Once again, as our co-founder DIYgod states, “RSS” in RSS3 stands for a tribute to history, and that “3” stands for Web3. That being said, we do carry the baton for its spirit of openness and freedom.
RSS3 gives every persona an RSS3 file, which is the source data of a profile with a constantly-updating feed. That user-configured feed, as an aggregation of all the cyber activities one might have, is then utilized by different applications to build out social media, content networks, games, or even e-commerce platforms.
To realize a system like that, especially with decentralized architecture, is extremely challenging. As blockchains carry theoretical limits no matter how one optimizes the consensus algorithm, we decided that RSS3 has to be built with a new type of decentralized network designed specifically for information processing - by the end of the day, information doesn’t have a double-spending problem. Though six months were spent on designing the whole architecture, we finally came out with the whitepaper describing how it is achieved, and we expect that all decentralized information processing networks that come afterward would greatly benefit from it - just as Ethereum inspired later blockchain projects.
Though it will still take about 6 to 8 months for us to develop the RSS3 Node, we have made some tremendous progress:
① We have the pre-node up and running since the end of September, gathering more than 55,000 active personas (one or more addresses per persona) with more than 19 million requests per month.
② We have formed a 20-people team across the globe that has demonstrated strong performance in researching, engineering, and marketing.
③ Other than Ethereum, we have partnered and supported Arweave, Polygon, BSC, Arbitrum, Avalanche, Flow, and xDAI, while Solana support is on its way.
④ We have now more than 10 applications building with the information distributed by RSS3 including Mask Network, Showme, Revery, Cheers Bio, InGroup, and Flowns.
⑤ We closed two rounds of fundraising from backers and partners including Arweave, CoinShares, Coinbase Ventures, Dapper Labs, Dragonfly Capital, Fabric Ventures, Formless Capital, Hash Global, Hashkey, Mask Network, Sky9 Capital, Youbi, and other top-notch investors.
As described in the Whitepaper, the yet-to-come RSS3DAO is designed to be governing all matters related to $RSS3 and its network. Though a complete decentralized governing may take time to develop, with the continuous development of the project, we believe it is time for us to introduce our token $RSS3.
For now, we expect the tokens to be used to govern the following issues:
- Global Indexer and Serving Node elections
- Maximum number of RSS3 files per Serving Node
- DKG key fragments threshold
- Subgroup Scaling
- Module upgrade
- Epoch Round duration
- Incentive Management
Also, we expect that GI and SN operators will be mandated to stake $RSS3 for operations.
Generally, the treasury will be maintained to ensure the growth of the ecosystem composed of users and application adoptions. Specifically, the growth is expected to come from the follows:
- Various Services
- Fees generated from social / application activities or exchanges
- Future community consensus events
- New virtual asset inventions
Total Supply and Allocation
In total, all 1,000,000,000 $RSS3 tokens will be created at genesis.
5-Year Circulating Supply
The majority of the $RSS3 Token is subject to long-term lockups. Details are as follows:
Community tokens are those that will be gradually distributed to the general public.
- 5% will be tokens from public sales during the TGE, which will be the only tokens that are unlocked immediately.
- 10% will be early incentives. 2% will be airdropped to existing users in the RSS3 ecosystem 1 month after the LBP. The remaining will be having a 12-month linear unlock, which will be used as incentives toward various stakeholders (e.g. active users, ecosystem app developers, and testnet node operators).
- 2% will be for partner projects and organizations. There will be a 12-month cliff and then a 36-month linear unlock.
- 47% will be governed by the RSS3DAO for future development purposes. 2% will be unlocked after LBP, where the initial liquidity pool on Uniswap afterward is coming from. Then it will be subject to a 12-month cliff before a 48-month linear unlock.
Seed investors are those who backed us from the very beginning. Their purchase price was 0.04$ per $RSS3. There will be a 12-month cliff and then a 24-month linear unlock.
Private Token Sale
Private token sale participants have purchase prices ranging from 0.06$ to 0.15$. There will be a 12-month cliff and then an 18-month linear unlock.
Natural Selection Labs
Natural Selection Labs is the equity company that initiated the RSS3 project. It will be granted 5% of all the tokens with a vesting period of 24 months after a 12-month cliff.
Those existing and future crews of RSS3 will be allocated with about 15% of all the tokens. These tokens will be unlocked after a 12-month cliff with a 36-month vesting period.
There have been lots of people who helped the RSS3 project from its infancy. In total, 1% of all the tokens will be granted to those advisors with a 12-month linear vesting period.