How you can earn on Den.Social

16 Nov 2023

Den.Social is a social media built on DragonChain blockchain. The idea behind the creators of this platform is to create social media resistant to censorship and manipulation by the creators themselves, where users will be able to earn cryptocurrencies through almost everything they do. The goal of Den.Social's architects was to delegate the power to the users themselves. It is Denizens - Den users - who decide which posts are valuable to the community.

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It is a system of betting NRG rates on posts that are deemed good and eliminating posts that do not meet Den criteria. The earlier a post is bet on the NRG rate, the more MTR - the most important cryptocurrency on Den.Social, will extract. NRG - energy has no monetary value but is used to create posts and bet on posts of other users. Every day our portion of NRG is renewed. Starting your adventure with Den.Social you will get 24 NRG per day, but if you get MTR then for every MTR you will get 1xNRG per day. Accumulation of MTR is the basic strategy on this social media. The more MTRs you get, the more NRGs you get for creating and betting on posts, and thus the greater the chance of extracting more MTRs.

Every day Den users and holders are rewarded with 1000 MTR. Total supply is 433,494,437 MTR and so it will take about 1355 years to extract all the MTR! There will be no more than 32M MTR in our lifetime. It is a very rare and difficult to obtain token. Most of the MTR is locked in Den.Social and users do not sell it. MTR can be bought on Uniswap, but there is not much of it there. Currently, the price of MTR is very low at $0.05 at the time of writing this article. Historically, the price has exceeded $1. It is a very undervalue token. This is mainly due to the general condition of the market but also due to the fact that the SEC is allowing DragonChain in the US. We all know about the damage the SEC is doing to investors in the US. DragonChain has a good chance of winning this case, but no doubt the SEC's actions are scaring off potential investors and slowing down adoption. On the positive side, most of Den's users are outside the US jurisdiction. In this article I want to give you an objective view of the Den project so I don't leave out the negatives of the project. Remember, however, that Den.Social is in Beta version and not final, and further changes are still being made although they are currently slowed down because the developers are concentrating on the SEC case. In my opinion, the negative is that MTR as an ERC-20 token is traded only on Uniswap Ethereum DEX. The fees on Ethereum are very high and I don't think this will change in the near future. Den developers are working on solutions to enable MTR trading bypassing Ethereum, but this is still the future. Most Denizens don't sell their MTR anyway, but it would be nice if there was a possibility to buy and sell without such high transactional fees. I think that in the future this problem will be solved and the exchange of MTR will be much more dynamic.

So how can you earn MTR. In many ways. First, by creating posts. This is the most effective strategy. Other users will bet NRG rates on your post which will give you a chance to receive a new MTR the next day. The amount of MTR you receive depends on a number of factors, such as the total number of posts on a given day, the number of people betting on your post, the amount of NRG bet, the time at which the NRG was bet. You can read more about MTR distribution in the white paper.

The second way, to receive MTR is to write comments on the posts of others and interact with other users. On your comments users also bet NRG. It may happen that you receive Tip in the form of MTR. Another way to get MTR is passive income, which you can achieve if you become a holder of one of the categories - Lair. Every month several new categories are created. The process of creating a new category allows you to bet on LOR rates - a token used to create new categories, which you also receive automatically, and the amount of LOR you receive depends on the amount of MTR you have. If your category wins then you become its proportional holder. The entire LOR bet on the newly created category is converted into NFT token LOT at a ratio of 1:1. In this way you can become the owner of a part of the newly created category together with other denizens who voted for it. This will provide you with passive income in the form of a portion of the MTR extracted by this category. You can also buy a LOT on OpenSea.

Check out Den.Social YouTube channel

Summary. There are more opportunities to make money on Den.Social. I have discussed here only the basic ones. Den has no referral links. I am a regular user of the platform who cares about its development. I also use other social media built on blockchain and in my opinion Den is unique although very little known. Sign up and see for yourself how you can build your social media business.

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Thanks for sharing your experience as well as some of the risks and benefits with Den.Social. I will be watching and awaiting the outcomes of the SEC case. Great overview.
Social media is ocean of opportunities for all and equally available for everyone. Den Social also looking great to jump in and earn crypto along with social engagement.
Interesting. Quite a few web3 based social medias starting to appear now!
Nice article with great info
Thank you for this "tutorial"
Thanks for the constant insights on this social platform. I'll join soon too, I'm curious! :)