Blockchain technology has recently taken the world by storm, disrupting every industry, including social media. Many blockchain-based social media platforms have emerged and are actively reshaping the industry by introducing users to new features such as decentralization, transparency, and rewards. One perfect example of these game-changers is LasseCash.
LasseCash is a reward-based social media platform where users earn crypto rewards for creating and publishing truthful content. It is the first-ever “outpost” built by Hive-Engine. Hive-Engine is the smart contract sidechain for the Hive blockchain. Hive, on the other hand, is a decentralized layer-1 blockchain network that allows users control over their data. This promotes LasseCash's primary principle of rewarding "Anarchy, Crypto, and Truth."
With no transaction fees and an impressive three-second block time, LasseCash stands apart from other cryptocurrencies like Bitcoin and Ethereum, which have block times extending up to 10 minutes and extremely high gas costs.
Proof-of-Brain: How Does LasseCash Work?
LasseCash operates on a Proof-of-Brain (PoB) consensus mechanism. The PoB mechanism rewards users with LASSECASH and LASSECASH POWER for creating and publishing high-quality blog posts. The amount of LASSECASH and LASSECASH POWER earned depends on the quality of a user’s content, as measured by factors such as the number of views, upvotes, and comments.
LasseCash has several other unique attributes that set it apart from other blockchain-based social media platforms. For instance, it uses a more efficient consensus mechanism by tweaking the parameters of the ScotBot, the algorithm used to calculate the PoB score, allowing it to perform better than Hive and other competing tribes and outposts. Users have a better chance of making more from their blog posts on LasseCash.
All content on LasseCash is published on a censorship-free blockchain. No one, not even the government, can remove your published posts.
LasseCash has also put measures in place to encourage users to participate in the project for a long time. Rewards are released in 26 installments, with each installment being paid out every 7 days. This way, users receive all their rewards after six months. The payout ratio on blog posts is 90% LASSECASH POWER and 10% LASSECASH, setting it apart from Hive, other tribes, and other outposts.
Also, When you post on LasseCash, you can use up to 20 tags. This is more than most other condenser sites, which typically only allow 8–10. In addition, the site has no banners or ads, which means you don’t have to worry about your content being interrupted by ads.
The LasseCash Ecosystem: Pool, NFTs,Inflation and Lasse Ehlers
Liquidity Pools
Users can provide liquidity to the SWAP.HIVE:LASSECASH pool to earn Diesel pool rewards. LasseCash provides high rewards with the SWAP.HIVE:LASSECASH pool currently paying an APY of more than 49% and the LASSECASH:PUPPY pool an APY of more than 110%. Diesel pool rewards are paid out daily, depending on how much liquidity you have provided to the SWAP.HIVE:LASSECASH pool.
LasseCash also encourages long-term liquidity provision. You earn an extra 1% every day you hold liquidity in the contract for the first 30 days, and then an extra 30% every day after that. The longer you hold, the higher your rewards. You can also add and remove liquidity at any time with zero fees.
NFTs
You can also mint NFTs on LasseCash. You'll just need to apply for the whitelist and wait for approval. Upon approval, you can mint your NFT in the form of an image, an audio file, or a video file. This sets apart the LasseCash NFT platform from most other NFT platforms that are only limited to JPegs.
The first edition of the NFTs goes for 1000 LASSECASH, with each additional edition going for 100 LASSECASH. The trading fees on LasseCash are competitively low, standing at only 1%. You can also sell your NFTs on Openhive.
Inflation
The rate of Inflation in LasseCash is decided by the leader of the outpost, Lasse Ehlers. To uphold transparency, all changes are made public on the blockchain. The idea is to only make yearly changes, but more can be made if market conditions necessitate them.
LasseCash boasts the lowest inflation of all tribes and outposts. It also has a low hard cap of 51 million LASSECASH, leaving plenty of room for growth.
Lasse Ehlers
As mentioned in the previous segment, Lasse Ehlers is the leader of the LasseCash Outpost. Besides deciding on inflationary measures, Lasse Ehlers also resolves any disputes that may arise in LasseCash. He is also the biggest LASSECASH holder.
Closing Remarks
LasseCash is undeniably one of the most innovative Web 3.0 social media platforms. It is fully decentralized, transparent, and censorship-resistant. In addition, its transactions are fast and competitively cheap compared to other networks. User rewards, support for NFTs, and liquidity pools are the icing on the cake, creating more earning avenues for users.
Posted using LasseCash