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Research Paper: KOLnet

Diederick Jacobs

Posted on: 6/29/2022,

2 minutes read

House of Chimera x KOLnet

What is KOLnet?

KOLnet is a unique fundraising platform that aims to revolutionise the cryptocurrency fundraising industry through the initial Marketing Offering (IMO), an alternative to the initial launchpad offering (ILO). The intuitive Proof of Marketing (PoM), a consensus method, allows projects to track and validate the performance of KOLs. The KOLs are compensated through presale allocations for their marketing efforts. This enables projects to launch resource-efficient marketing campaigns and gain a competitive edge. The presale allocations of KOLs are based on their ranking, derived from public on-chain behavioural and social media data. This allows projects to ensure that a KOL has relevant digital exposure and identifies artificial enhancement of social media metrics (i.e. follower purchasing). Fundamentally, it allows for an efficient, transparent, and fair process creating value for all stakeholders. In order to achieve this, a team of cryptographic and data analysis professionals, equipped with work experience from tech-multinational companies (e.g. HP, O2, Microsoft, CGI), carries out the project. The KOLnet ecosystem has its native utility token of the total supply of one billion tokens with an initial circulating supply of 22,450,000 tokens. The initial market capitalisation is 267,400 USD. The KOL token is initially launched on the Polygon blockchain but will expand to other EVM-compliant chains at a later stage. The current utility of the KOL token is Staking, Means of payment, and Allocation Rights. The ecosystem plans to expand its token utility with: Bidding, Rewards, Discounts, and Farming

How does KOLnet work?

The PoM consensus method allows for a transparent and fair process, creating value for all stakeholders. KOLnet utilises social media data of KOLs, gained through web2 API connections from various social media channels (i.e. Tiktok, YouTube, Instagram, Twitter, Facebook), to construct a benchmark. Additionally, public on-chain behavioural data is utilised to understand the asset management behaviour of a KOL. The combined social and behavioural information is used to create a KOL's ranking system; based on an awarded rank, the KOL can access a certain amount of presale allocation. The ranking system is a dynamic mechanism continually being updated with new data. Thus, engaging KOLs are put higher on the leaderboards and receive more rewards. So, there is a financial and social incentive for KOLs to improve their performance and increase their rank on the leaderboards.

What is KOL?

The KOL token is the native utility token of the KOLnet ecosystem. The total supply is 1,000,000,000 tokens, with an initial circulating supply of 22,450,000 tokens. The initial market capitalisation of KOL is 269,400 USD. The token is funded through a seed sale, private sale, strategic sale, and an ILO. The ILO will be offered on Gamestarter, Thorstarter, and Infinity Pad. The native token is initially solely available on Polygon but will be multi-chain at a later stage. The ecosystem aims to expand to more EVM-compliant chains (e.g. BNB smart chain, Polkadot, Ethereum), allowing KOLnet to create IMOs for projects that are planning to launch on these blockchain networks. The current utility of the KOL token is Staking, Means of payment, and Allocation rights. The ecosystem intends to expand its token utility with: Bidding, Rewards, Discounts, and Farming

Read the full research here!

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