Everything is a market.
Ethereum now has the tools for developers, millions of users and platforms to realize this vision.
Form will advance Ethereum by bringing 50 million users to the SocialFi space by 2030. We are reimagining the role of smart contracts in SocialFI by focusing on three key areas: enhancing interoperability between platforms, rewarding innovation among protocols, users and developers alike, ensuring our role as a leader in the sector.
The Concept of SocialFi: A Genesis
The revolutionary paradigm of SocialFi emerged in 2023. Bonding curves were linked to social interactions, enabling a user to purchase a creator's token and gain access to their chat room. Product-market-fit became the bonding curve itself, representing a layer of interaction between a creator and their community. When the creator's token was purchased it was priced higher on the bonding curve, creating an on-chain market for social interactions in a community. The birth of SocialFi, a portmanteau of 'social' and 'finance' represented a fusion of familiar social networking elements and financial mechanisms within the blockchain ecosystem.
ERC20 Tokens: Fueling the SocialFi Engine
ERC20 tokens provide a uniform set of rules and functionality in Form's SocialFi ecosystem, enabling new use cases and features for SocialFi tokens that were previously limited to siloed platforms. By reimagining the role of smart contracts in SocialFi, Form is creating an optimally decentralized ecosystem where DAOs, governance tokens, DeFi, cross-chain functionality and traditional financial markets can begin to thrive within the category.
Interoperability and Composability: The Heart of SocialFi
We are beginning a new economic reality for SocialFi with interoperability and composability at its core. With Form's interoperability-first approach, protocols can be pieced together like lego blocks to create new SocialFi products and applications. On Form, your SocialFi tokens have their own contracts to transfer value and information across networks, opening up a world of permissionless interoperability across the sector.
The Road to SocialFi 2030
Form intends to bring 50 million users to SocialFi by 2030. This vision is achievable through the collective effort of developers, investors, users and teams pushing the limits of what's possible in the category. Form aims to integrate SocialFI into traditional financial products like centralized exchanges, payments rails and mass social networks like discord, telegram and twitter to acceleration adoption across the category. As the app-chain thesis expands, SocialFi networks can begin to leverage Form as Layer 3 chains, expanding the limit of what it means to create a SocialFi ecosystem.
Principles of the Form Blockchain
We pledge to ensure the unrestricted right to transact, to bear a market, and to claim ownership; to steadfastly oppose centralized determinism; to champion interoperability and progressive decentralization; to foster community governance and decision-making; and to instate transparent and fair reward systems. These are the core tenets that guide our mission to advance the SocialFi landscape.
The Right to Transact
We proclaim the right to transact as an inalienable right at the protocol level, ensuring every participant has the unrestricted ability to engage in economic activities, free from undue interference.
The Right to Bear a Market
We uphold the principle that every individual and community has the inherent freedom to create and participate in all markets, fostering innovation and economic diversity across the SocialFi asset class.
The Right to Own
We affirm the freedom and integrity of personal and communal ownership, ensuring that all users have sovereign control over their digital assets.
An Opposition to Centralized Determinism
We reject the over-centralization of power, we champion a system where decisions and influence are distributed across the network.
Interoperability
We commit to seamless integration and cooperation among independent decentralized systems, ensuring that the right to transact and the right to own will define the SocialFi ecosystem.
Progressive Decentralization
We commit to the relentless pursuit of a fully decentralized network for SocialFi applications and the Form blockchain itself, where power is continuously redistributed to the edges, to the users themselves.
Community Governance and Decision-Making
We aim to empower our users through direct participation in the governance processes, upholding the democratic ethos that every voice matters.
Transparent and Fair Reward Systems
We advocate for clarity, opportunity and fairness in the distribution of rewards, recognizing the value of on-chain contributions in the Form ecosystem.
These are the guiding principles of the Form blockchain, dedicated to advancing the SocialFi ecosystem and the empowerment of its users. Please hold us to these principles and help us shape the foundation of SocialFi at Form as we advance the category together.
Form is a vision to bring social and crypto to millions of users with innovative and seamless applications. Join us and shape the future of Ethereum with Form.
