Introducing Reach: A SocialFi Protocol to Navigate Twitter’s Algorithm Changes
Reach, a new SocialFi player, aims to help users and businesses tackle the challenges posed by Twitter’s algorithm changes and combat bots. The startup has announced the rollout of its “fit-for-purpose” protocol, powered by the Ethereum-based REACH token. It has also secured $1 million in funding from prominent Crypto Twitter figures like Seedphrase, Pranksy, Gmoney, and Zeneca.
According to founder Harold Eytan (aka 8an), Twitter is a constant source of frustration for the crypto community due to fake profiles and the platform’s algorithm. Reach aims to address these issues with its SocialFi protocol, which monetizes engagement and verifies authenticity. Users can create missions and participate in raffles to win Ethereum prizes. The protocol distributes funds to the community, with a portion going to the Reach treasury.
Overcoming Bots through Anti-Farming Measures
While similar products exist, Reach sets itself apart with its anti-farming measures implemented through the Reach Score System (RSS) and effort-based relevancy algorithm. The RSS disincentivizes farming by reducing the value of accounts filled with promotional content. The effort-based relevancy algorithm rates submissions based on their thoughtfulness and conversation-driving nature.
By verifying genuine contributions from real people, Reach aims to combat AI-generated content. NFT investor Seedphrase highlights the importance of this algorithm in verifying authenticity.
The Role of the REACH Token
The REACH token is at the core of Reach’s protocol. Users can create missions using REACH tokens and earn more tokens by holding a minimum threshold in their wallets. Communities utilizing the Reach Discord bot can also enjoy reduced fees by holding specific amounts of the token.
The REACH token and protocol are set to launch publicly on Monday, Dec 18, following a successful beta program with 6,000 users.
Hot Take: Reach Revolutionizes Twitter Engagement with SocialFi
Reach’s SocialFi protocol presents an innovative solution to the challenges faced by crypto marketers on Twitter. By monetizing engagement and implementing anti-farming measures, Reach aims to create a more authentic and trustworthy environment for users and businesses. With the upcoming launch of the REACH token and protocol, the crypto community can look forward to a new era of quality engagement on Twitter.
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