ReadON: The Read-to-Earn beyond Knowledge Accumulation
0xed11
November 7th, 2022

Author: @!0xWang1| @RealResearchDAO

Foreword

We are in the era of paying for knowledge. It is a mature method for readers who want to ingest more detailed and professional knowledge to pay the content creators. At the same time, a variety of in-depth content also makes readers willing to pay for knowledge. As a knowledge provider, if you want to make your output of knowledge higher quality, the precipitation of knowledge content should be based on continuous reading (import) and sharing (export). After absorbing a lot of knowledge, it strengthens your memory through sharing, and at the same time, it also systematically integrates itself. Such knowledge will be slowly absorbed and become part of the constant "precipitation" in its own knowledge system.

However, in the current environment of information explosion, the dissemination media of information is dominated by the Web2 enterprises. Web2 giant enterprises monopolize users' "audio-visual rights" with endless big data algorithms and information cocoons. The process of enriching the spiritual world of users is full of entertainment, variety shows, and short videos that constantly erode the senses. These fast information modes make the dopamine generated by information ingestion easy and cheap. Developing good reading habits, even reading a long article patiently is no longer an easy thing to do for most people.

As a decentralized content distribution platform for Web3, ReadON is trying to solve this series of problems. Through the model of incentivizing learning and sharing behavior, it helps users break the shackles of the information cocoons, explore better content, and move towards a richer spiritual world. At the same time, it also benefits users and cultivates an excellent knowledge precipitation system of "to read patiently - to share seriously".

Read? Learn? Earn? What exactly is ReadON?

A New Read-to-Earn

ReadON is the world's first Web 3.0 application that allows users to obtain token rewards by learning and sharing knowledge. It launched the Read-to-Earn model based on the user's reading behavior, which integrates the gameplay of GameFi and SocialFi. Through its unique model, it assigns the distribution rights and ownership of content in a decentralized manner, and allows advertisers to deliver ads in its app by using its token $READ. It tries to break the current dilemma of excessive “Ponzification” of GameFi.

As an ideal X (as in X-to-Earn) scenario, ReadON has inherent external incentives for user behavior. At the same time, the user's reading behavior can also be easily quantified as a consideration in the Earn model. In ReadON, gyroscopes are introduced into the anti-cheat system to finely quantify the user's reading time. At the same time, reading or creating content is a positive incentive for users to develop good habits. When the rate of return returns to rationality, the user retention of Web3.0 is still very strong. At the same time, as a broad scenario, Read/Create has the potential to break the circle. Through the simple use scenario of Read/Create, it converts Web2 users to Web3, which greatly lift up the limit of the product itself.

Cultivate User Habits with the Brain Hack Model

Cultivating user habits is an important part of retaining users. ReadON enables users to form a long-term habit of using ReadON in their brains through an instant motivation and task system called "Brain Hack" that revolves around feedback, sense of achievement and surprise moments.

First, the AI ​​timer analyzes the user's reading behavior on ReadON. Every time a cycle is completed, users will receive $READ tokens as an instant reward. This AI timer is powered by an in-app algorithm that identifies real reading behavior based on behavioral data like screen touches. Some random scrolling or staying on certain pieces of content for longer than a reasonable period of time will not be recorded.

ReadON has designed daily and weekly tasks for users that follow a habit-forming time curve from easy to difficult, including instructions for using ReadON, transferring and exchanging tokens, and buying NFTs, which users can set clear goals for themselves and earn incentive token rewards along the way. In addition, users can invite their friends to join them in a series of reading challenges, unlocking various badges for the achievement system, allowing users to develop from short-term user habits to long-term ones.

Three Missions - ReadON's True Vision

ReadON hopes to reshape Web3's digital reading behavior through GameFi's mechanism and system, with the goal of providing users with insightful and valuable content. Based on this, the developer team has given ReadON three major missions, namely content contract / Read-Fi economy / decentralized recommendation system.

1. Content Contract

Composable Design

ReadON believes that content creators should really own their own content and have the right to choose the content platform. For example TikTok's videos are not available on Instagram unless the creator also uploads the video to Instagram, in this way TikTok owns the creator's work to a certain extent.

ReadON hopes to create a public contract suitable for all kinds of content (on-chain/off-chain), and it can also be understood as a protocol which, under this contract, the content's title, subtitle, article body format will all be standardized, so that content can be presented in different styles on different platforms, yet remain under one contract standard.

Content Ownership

Ownership is a key focus of ReadON. ReadON's solution was to create a new tool that enables users to create a unique string and easily verify proof of ownership. If the user owns the website, the string can be explicitly added to the content body, such as a watermark. Otherwise, the string generation process can be done automatically in a piece of Javascript and embedded in the original URL.

2. Decentralized Recommendation System

Each piece of content on ReadON has up to three topics, and ReadON will create corresponding "sub-communities" according to the topics. Holders of Tier 2 Glasses NFT (mentioned later) under the topic can become sub-communities corresponding to their topics curators, and users can obtain voting rights and vote on content by staking tokens. 10% of all reading rewards generated by a content will be shared among their voters (distributed by voting rights), and the other 10% of the total reward goes to creator.

Topics

Initially, the ReadON team will create 20 genesis topics (such as Web3 / sports / sports cars and even Taylor Swift, etc.) What these themes will be will be discussed and voted on by the team in ReadON's Discord channel with users. And each topic will have a corresponding sub-community. Also note that each piece of content on ReadON will have up to three topics tagged for it by its author.

3. Read-Fi Economy

ReadON hopes to build a complete content ecosystem, so that creators, readers, and managers can benefit and co-govern in the process and participate deeply in it, and to ensure that the entire system is relatively decentralized in the process.

Tokenomics

ReadON adopts a dual token economy, which are the game token $READ and the governance token $??? (TBA)

Regarding the token, the developer team has not yet introduced in detail, and the governance token has not yet been announced, but from the perspective of the distribution model, for the various use scenarios set in ReadON, the dev team has also paid enough attention to the circulating token $READ.

NFTs

If readers want to read and make money from ReadON, they must first purchase an entry NFT (like StepN). The core NFT in ReadON will be presented in the image of glasses (Glasses NFTs), and the lenses of the glasses will present the themes corresponding to the glasses. (If the user has an NFT with the theme of "sports", sports-related pictures/characters or animations will appear on the lenses of the glasses NFT).

Glasses NFT has the following three main functions

1. After equipping Glasses NFT, users can start earning $READ by reading content.

2. Glasses NFT is the core asset of the ReadON economy. Users can spend $READ to upgrade their Glasses NFTs to enhance features, such as getting more $READ rewards, unlocking different features.

3. Each Glasses NFT has its own specific topic (such as Web3, finance, stars), users of NFTs with a certain topic will have the right to govern the corresponding sub-community, and to share incentives in the sub-communities.

At the same time, the gyroscope in the user's device is introduced into ReadON's reading quantification system to finely quantify user behavior. When the user implements the reading behavior, ReadON's artificial intelligence timer will measure the user's real reading time and reward the user according to the time. Readers have a daily income cap that limits the maximum $READ a user can earn per day.

Each NFT has 8 important properties, which are:

1. Theme / 2. Rank / 3. Level / 4. Experience Points / 5. Durability / 6. Skills (Wisdom W, Subtlety S, Excellence E) / 7. Energy / 8. Reproduction (mint)

Details in NFT Properties

As mentioned above, each Glasses NFT has 8 important properties

  • Theme: Each glasses NFT has its own theme. When you read the content that matches the theme of the NFT, you will get higher income. On the contrary, if the content you read is not related to the theme of the NFT, your earnings will decrease, the formula is as follows

-Rank: Glasses NFTs have three ranks (1/2/3)

Tier 1 NFTs are the most common NFTs.

Tier 2 NFTs have the access to manage their sub-communities. For example, if a user owns a Tier 2 NFT with the theme of "sports", they have the right to manage "sports" sub-communities of this theme. Community managers will be responsible for providing and promoting better content to grow the community, and receive bonuses for community development.

Tier 3 NFTs have the right to participate in the topic creation process. Tier 3 NFT owners can propose new topics. Once the proposed topic reaches 50 NFT pre-orders (similar to the crowdfunding model) , it will be officially created. 50 NFTs will be minted and sent to pre-order users.

-Level: Each NFT starts from level 0. Once the upper limit of experience is reached, it can be upgraded by consuming $READ. The upgraded NFT will gain ability points, which can be used to upgrade the various skills of the NFT (Wisdom W, Subtlety S , Excellence E).

-Experience Points: For every minute the user spends reading, the equipped Glasses NFT will gain 10 experience (EXP).

-Durability: Each glasses NFT has a durability (100/100) at the beginning. During the process of reading and earning, the durability will decrease. At this time, it needs to consume a certain amount of $READ to repair, otherwise when the durability reaches 0, the glasses NFT will enter the "to be repaired" mode without generating any more $READ or EXP. Tier 2 and 3 NFTs will also need to be repaired through some ReadON community services

-Skills: "Wisdom W, Subtlety S, Excellence E"

Wisdom [W]: W affects the daily upper limit of rewards.

Subtlety [S]: S affects how quickly users earn $READ.

Excellence [E]: E affects the experience point accumulation rate.

  • Rune System:* Similar to the skill system, the game provides a Rune system, there are three types of Runes (Wisdom Rune (W), Subtlety Rune (S) and Excellence Rune (E)), the Rune is generated during the user's reading process, and the rarity is different, the rarer Rune will provide a higher attribute improvement. (P.S attaching Runes to glasses is free, but removing runes costs $READ)

-Energy: Each NFT has a Maximum Energy Limit. The factors that affect the upper energy limit are the class and level of the NFT. The higher these two prime values are, the higher the maximum energy limit of the NFT will be. It should be noted that the daily energy limit will also directly affect the number of Runes that can be used by the NFT. The ratio is 1:1. For example, if the energy limit of an NFT is 10, the number of runes that can be used by the NFT will also be 10.

-Breeding: Users need at least two level 6 NFTs with the same theme to breed. Each NFT can breed up to seven times. It is worth noting that the new NFTs from the first few mints have only a low probability of inheritance. The further back the breed takes place, although the $READ consumption will be more, there is also a higher probability of inheriting the original NFT theme, and the new NFT bred from high-level NFTs will also have a higher probability to be high level NFTs.

Earning Rate

For users with multiple NFTs, although only one set can be equipped at a time as the main NFT, other Glasses can still earn revenue when they are idle. The rate to accumulate $READ and EXP at the discount rate is shown in the figure below.

The Ad System

In the traditional digital content ecosystem, advertisers have always played the role of sponsors behind various media empires. ReadON introduced the advertising system, and said that advertisers were also classified as target users, providing advertisers with different delivery strategies based on $READ tokens.

1.Advertisers use $READ to serve ads. Advertisers can choose the advertising space to be placed, and place it in the matching content category space.

2.The higher the exposure of an ad, the more tokens it consumes. When multiple advertisers have demand for the same space/same topic, there will be a resource conflict, the higher bidder will get the space.

The Different X-to-Earns

Let Me Speak: Speak out loud to learn English

Let Me Speak was originally an Internet application for learning English, which has been online for 4 years. It lowers the entry barrier for users to learn English through real-life scenarios and game settings. After August 2021, the NFT and Tokenomics were introduced in an attempt to transition to Web3 with the "Speak to Earn" model.

Let Me Speak has five kinds of NFT "learners", and the level of NFT is divided into five levels: common, uncommon, rare, epic, and legendary. Users who hold common NFTs are free to learn English, but they will not earn any rewards. The other four levels of NFTs need to be purchased with the USDC stablecoin. They can also get rewards and incentives while learning for free. Users can earn the in-app token LSTAR while learning English by holding NFTs, and LSTAR can be directly exchanged for USDC in-app.

With the strike of the bear market, the rewards collected from Let Me Speak have changed from a cup of coffee a day to a bottle of water, and now a bottle of water for 3 days. Many users left already, but a considerable number of users still use the application for the purpose of learning English to improve themselves. Returns to them are merely a secondary task.

MMMM: Sing to Earn and Sing for Soul

Singing out loud may be a big relaxation that everyone enjoys. The launch of various singing apps allows people to enjoy singing Karaoke at home in their spare time. But what if I told you that you can get an extra income while you are relaxing in the singing app?

MMMM is a Web3 Karaoke application that integrates the "Karaoke" and Web3 "X To Earn" model. MMMM has launched an innovative "Sing to Earn'' model where users can obtain game tokens $MESS by singing and owning NFT (Mic-Dolls) through purchases. $MESS tokens can be used to upgrade or summon Mic-Dolls, restore its energy or participate in other Game-Fi games. After the trading system is launched, $MESS can also be used to exchange with fiat currency, which becomes a real economic benefit for users.

In MMMM, users can share their own recorded singings with friends, or post in the MMMM public community to get more users' appreciation. These songs can be converted into NFTs and gifted to friends in the community, which is the basic Social-Fi function of MMMM.

As a Web3 application, MMMM provides additional benefits for singing, and gives more value to the behavior of perfectly displaying the user's distinctive personal image, which perfectly interprets the importance of the "individual" element in the Web3 world.

Conclusion

ReadON is not just a Read-to-Earn application. Just like other Web 3 apps, X-to-Earn is for early user acquisition and low-cost conversion. From this point of view, a sustainable economic model is a necessary condition to ensure a soft landing of X-to-Earn. According to the vision of the dev team, ReadON will be built into a full content distribution platform in the Web3 world, helping users to efficiently discover high-quality content and overcoming the problem of information cocoons of Web2 information sources.

In the Web3 world where information is changing rapidly, it is very important for content to be readable and memorized, and to help users better absorb knowledge with great concentration.

From the reader's point of view, ReadON solves a series of problems. The improvement and positive feedback that reading brings to people is not immediate, but a step-by-step increase, which requires readers to really concentrate and learn how to delay satisfaction. In ReadON, the Instant Feedback timer will analyze the reading behavior in real time and give $READ rewards according to the user's reading behavior. At the same time, ReadON has also introduced the achievement and team system to enhance users' instant reading experience in the social field, greatly expanding the breadth and depth of the product.

ReadON refers to a large number of StepN models, but does not stop at copying, but instead adds many unique ideas on top of it. Based on the ecological characteristics of the project, it introduces an advertising system, a decentralized content distribution system, and contractualization of data ownership, adding a lot of use cases for its token. It can be seen that ReadON is actively trying to break the pure Ponzi schemes of the GameFi models, in an attempt to create a new model that is innovative and self-reproductive.

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