Only1 is the Web 3.0 platform created on the Solana blockchain. The platform aims to provide an on-chain creator economy through creator staking pools and the NFT marketplace to reward viewers and creators fairly. Only1 not only enables its users to connect with their favorite creators but also trade and earn a portion of the creator’s growth.
In Web 2.0, users enjoy the services on social media forums without paying anything. However, a centralized social media platform has a discriminative creator economy as advertisers have to pay the platform for attracting users, whereas on decentralized social media platforms like Only1, the platform itself pays its users to grab their attention. Another problem identified with Web 2.0 is that discovery algorithms are created with a framework to focus on the company's commercialization and assist some political agendas. Also, various people have to face the problem of data exploitation that huge organizations have taken advantage of.
Web 3.0 is created on token-based economics and decentralization. Thus, the team of Only1 believes that the Web3.0 social network must achieve three things: decentralized content moderation, the user retaining control over private data, and a fair creator economy, which are achieved using DAO where the users contribute to the process of decision-making.
The Only1 platform is created to support innovation within the Web 3.0 space, offer a better user experience, and reduce security flaws. The platform enables the token holders to get exclusive access to the creator and earn along with the creator.
The native token of Only1 is LIKE. Users can stake LIKE to take part in the DAO and obtain a portion of platform fees in the form of LIKE tokens. Creators receive rewards on the platform for creating content where LIKE tokens serve as the incentive. Users can use the LIKE tokens to get discounts on social features and the marketplace. Also, token holders get a monthly buyback with half of the generated platform revenue.
