Have you ever heard of Stream on DeBank wallet tracking platform? The team wanted to create a personalized wallet ownership for those who connect their wallets to it. Stream is designed for short-form posts of crypto enthusiasts in which they can share their posts with their followers. Debank team wants to boost engagement between whales and naive investors.
The mechanism is actually based on tracking wallet accounts while learning about what whales talk about when they are in a crypto hub. You can easily see the holdings of a whale when you check its profile and there is also "transactions" part that you can track every single step of a whale on the EVM Layer 1 projects and Ethereum Layer 2 chains.
The concept of DeBank is pretty attractive because Streams are powered by both reward pools, which can be filled with stablecoins to reward your readers who engage with the posts, and the alpha information. For example, I see lots of whales talking pretty bullish about PEPE. When I also check their wallets, I can find their PEPE - ETH transactions and the prices that they bought the coin. Also, If you think that a whale is successful to find gems, such as meme coins or new DeFi tokens, then you can say Hi! (by paying x amount of money to send your message to the whale) and try to learn alpha tips.
The whales are also happy with their experience on the platform because they are getting a big percentage of the posts that they interact with. As the whales' influence and social ranking is higher, they are almost paid free money just for their limited engagement and follows.
The posts with reward pools are distributing the rewards according to the value of your attention. For example, When I get $0.01 from a post that has $50 reward pool, a whale with a huge amount of money or a high rank can get $5 - $10 from a single interaction.
This may sound inequality but the system is based on learning from whales and engaging with crypto-minded people on a crypto wallet tracking platform.
You will see top contributors on the left corner. This is not an exact amount of money being earned or being spent. Rather, the system evaluates each post by estimating the realized value of the post, the amount of total money of readers divided by the number of readers, then the post is assessed in terms of the value it adds to the platform.
The system may sound rather complex but it is pretty simple: You leave a trust (like), comment and reshare it if you want to inform your followers, too. Engagement is the fuel of Streams; the bigger bag you have, the more you earn!
Onne more strong side of the platform is that you may not have a lot of money in your wallet, but you might be a good content creator in crypto ecosystem. Then, you may grow the Total Value Locked by your followers, which directly affects your rank in the platform. As you level up in the rank, your allocation from a reward pool of a post increases accordingly.
Both money and good content creation skill can be a source for your engagement on DeBank Stream. However, there is no whitepaper, informative post or a source for people to explore the dynamics of the platform. People, especially popular Streamers, try to make deductions from their past experiences.
Though it looks like a plain UI that distributes rewards, it is just a feature on DeBank wallet tracker. Most probably, the focus of the team will not be based on Streams feature while it is leading the wallet tracking platforms with its popularity. Even the addition of the feature hints the necessity of Crypto Twitter for our ecosystem.
Wait until they find out LeoThreads 🦍