Mask Network Launches the SocialFi Alliance with 15 Founding Partners
Mask Network is proud to launch the SocialFi Alliance with 15 founding partners.
Founding partners include Polygon, as the full stack ethereum scaling solution, and 7 social DeFi apps all running on Polygon — lottery DApp PoolTogether, social trading DApp dHEDGE, social saving DApp GoodGhosting, prediction market DApp Augur, and trading widgets including SushiSwap, QuickSwap, and DODO. We have also invited 4 ecosystem partners: developer community Gitcoin, fiat on-ramp solution Transak, NFT badge provider Project Galaxy, multi-chain incubator Impossible Finance. Finally, we have enlisted the help of 3 community and media partners: Real Satoshi, Bankless DAO, and Global Coin Research.
Mask has always been building the bridge between Web 2.0 social networks and Web 3.0 DApps. We have thought long and hard about what DApps we should bring to Web 2.0 social networks. From the Wall Street Bet revolution to Tik-Tok investors, to the ultra addictive crypto community on Twitter, social networks and finance have proven to be a match made in heaven.
Mask Network took the crypto community on Twitter by storm when we launched our first $DAI Red Packet in February 2020, launched the first Uniswap trading plugin in September 2020, and the first Initial Twitter Offering in January 2021. However, they were all later hindered by the high Ethereum gas fee, which renders smaller transactions completely unviable on the Ethereum mainnet.
Now with the support of multi-chain on Mask Network, and having the Ethereum Layer 2 ready, the cost has come down to a negligible level. We can finally introduce a whole new suite of social DeFi applications and hope to mesh your personal finance with your social networks. In hindsight, the GameStop SAGA should have happened right here on Reddit/Twitter with the social trading plugins.
We have seen the enthusiasm with DeFi and GameFi within the crypto community, and Mask Network is trying to bring outstanding DeFi/GameFi projects onto the Mask extension, so more users could use it on top of the mainstream social network. Meanwhile, Mask Network has been thinking about ways of bringing the features of Mask extension and Web 2.0 social networks into the DeFi world. Mask Network hopes to bring the vibrancy and interactivity of social networks onto decentralized finance activities. Therefore, Mask Network got in touch with projects that are pivotal in the space, to form the SocialFi Alliance together.
We handpicked this batch of the social DeFi apps to cover both the core features like swap and swap aggregator and more consumer-level features like social trading, lottery, social savings, and sports/election betting. We look forward to making your personal finance experience a lot more complete with additional DeFi apps of different utilities blossoming in the ecosystem in the foreseeable future.
It’s worth noting that the integration of the dHEDGE, PoolTogether, GoodGhosting, and Augur plugins on Mask extension were all completed by developers in the Mask Network community during the Gitcoin Grants Round 10 Hackathon. This is a very promising sneak peek of the decentralized Mask community we would love to see, where community developers integrate decentralized applications to the Mask extension, and gradually form a Mask decentralized app ecosystem with thousands of DApps, built mostly with community developer contribution.
We believe that with the vast majority of the Internet users also being social network users, getting DeFi directly onto the major social networks like Twitter, Facebook could be the most critical step towards large-scale user adoption of DeFi and Web 3.0 applications.
Mask Network will initiate a series of campaigns to introduce the SocialFi Alliance members to more users on the Mask extension, in an easy, affordable way. Further details will be released at the launch announcement for each event.
We welcome all projects who share our vision to join forces with us. We will expand the SocialFi Alliance to multichain and many, many more applications.
Let’s meet in the decentralized world.
List of Partners
Full Stack Ethereum Scaling solution
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
GoodGhosting is a lossless savings game, with some friendly competition. By joining a social savings pool, you commit to saving towards a fixed goal. Regular savers — who reach the goal — are rewarded more than people who do not. At the end of the month, everyone gets their initial deposit back. But only the winning players earn extra rewards. This means you earn higher interest rates than when you would save by yourself.
dHEDGE is a social trading app where managers can operate a fund and followers can directly invest into the pool to enjoy the strategy. dHEDGE just launched its brand new V2 on Matic.
PoolTogether is a lossless lottery game. The reward is either generated from savings interest or from an outside sponsor. The chance of winning is calculated by dividing your deposit by the entire pool size.
Augur is the original prediction market on Ethereum. Augur started back in 2015 and is now on Matic as well. Users can participate in sports game betting, election betting, and crypto game betting. (Will certain token’s price go up or down)
Sushi is the home of DeFi. The SushiSwap community is building a comprehensive, decentralized trading platform for the future of finance. Sushi has long been the fan-favorite among the crypto community and has been a long-term partner of Mask.
QuickSwap is a next-gen Layer 2 DEX. Trade at lightning-fast speeds with near-zero gas fees.
DODO is a multichain decentralized exchange/liquidity provider for everyone, powered by the Proactive Market Making (PMM) algorithm. DODO is also a DEX aggregator and is live on ETH, BSC, and Polygon.
Developer Community: Gitcoin
Gitcoin is our Developer Community Partner, a community of builders, creators, and protocols at the center of open web ecosystems. People come to Gitcoin to develop their future and the future of the open internet.
Fiat on-ramp: Transak
Transak is also the default fiat onramp solution for MetaMask. If you don’t have cash or assets on Matic but still want to participate in the social DeFi app trial, then Transak has it all for you. You can use Transak to directly deposit from a credit card or bank account to your Matic address.
NFT: Project Galaxy
Project Galaxy is building a permissionless infrastructure that powers on-chain credentials with plug-and-play NFT modules.
Multi-chain incubator: Impossible Finance
Impossible Finance is a multi-chain incubator, launchpad, and swap platform which offers a robust product-first ecosystem that supports top-tier blockchain projects to targeted user audiences. Impossible Finance will match its incubated projects with native sector tracks such as social.
Community & Media Partners
RealSatoshi is dubbed “the Wall Street Bet of the East”, Realsatoshi is arguably the best Chinese crypto investing community. The founders of Realsatoshi also had stellar performance over the course of this bull run and have been managing a dHEDGE Pool for a long while.
Global Coin Research is a tokenized DAO of crypto readers, writers, and investors with direct access to high-quality content and deals.