Floyx.com Is Launching on Polygon to Build the Next Generation of Social Media Using web3 and Blockchain

Floyx.com will be integrating with Polygon in ushering in the next generation of social media and identity ownership that is cancellation and censorship-resistant.

Leveraging the strongest security attributes provided by the Ethereum network and the scalability of this blockchain, with Polygon they gain not only secure but also fast and cheap access to handle the micropayments that their social media is based on.

With low transaction costs and fast transactions, Polygon is a great solution for handling all of their smart contracts. Gas fees on Ethereum push the break-even point for their users, compared to using the scaling solution that Polygon provides. Adding Polygon Network to Floyx opens up the micropayment space and brings new customers into the ecosystem.

Polygon will power their ecosystem supporting the entire product. Floyx’s goal is to build the world’s first product that runs entirely on web3 technology. While maintaining full security in the digital space

Polygon chain integration works in Floyx

– Handling all micropayments. 

– DAO when they verify the number of tokens needed to submit an idea, vote, etc. 

– Their wallets. Which is not only used to hold tokens, but also for secure login with web3 application. Identity verification is also done through Polygon chain. 

– The staking system that they will build will also run on the Polygon chain.

Identity protection

By having the users verified and identity validated via Wallet that is run on Polygon chain, the user’s identity is immutable and cannot be cancelled. The wallet also stores all of the users’ chosen data in memory card, thus truly enabling the users to own their data. Smart contracts run on Polygon chain powers the ecosystem and enables all micropayments. Together with protected identity, non-censorship and micropayments to drive good behavior, they are ushering in a new era in social media where users are empowered.

Floyx was released a few months ago during the beta testing phase and gained 14,000 users during the MVP run. Today their social media is driven by almost 30,000 users. 

In Q1-Q2 2022, IDO will take place via several Launchpads and the Floyx team will start working on a web3 version for their product. The first fully working social media connection using web3 and blockchain technology should be available in Q4 2022 (open testing phase of a working application).

Q2 – 2022:

You tube widgets that power micropayments for views of content (smart contract via Polygon chain)

IDO

CertiK audit – smart contracts

Listing on the Uniswap v3 exchange

Q3 – 2022

Launching DAO for Floyx coin holders

Trader profile (monetization option for crypto traders) and related smart contracts built on Polygon chain

Start working on a web3 app (censorship resistant)

Start working on desktop and mobile wallets (Floyx & Matic) 

Q4 – 2022

Twitch and Spotify widgets & earning options enabled via smart contracts powered by Polygon chain

Adapting the web2 platform to support users using a web3 connection

Q1 – 2023

Completion of desktop & mobile wallet to store Floyx Coin and Matic (which is the cryptocurrency users collect from dividends and necessary to process payments/withdrawals).

Public launch of Web3 app: Launch of application to store user content locally on user’s memory card or server/device. 

Launching the first fully functional beta application for public testing. 

Login integration via wallets.

About Floyx.com

They exist to unlock human connection by providing security, identity, fairness and choice, whether it be real world, web or metaverse. 

Unalienable Rights of Life, Liberty and the pursuit of Happiness. 

will be only truly possible if the everyone has right to noncancelable identity, freedom of opinion, security of their profile and choice to be part of the marketplace.

Floyx is a truly decentralized social media that operates on the following principles:

1. Freedom to exist and express: Identity and data are secured by blockchain. No one can be canceled, deleted or hacked. Each user can legitimately engage in his ‘tribe’ and can ‘thrive’ if he engages across ‘tribes’

2. Freedom of Choice: Users choose how much personal data to store in distributed blockchain vs Floyx servers vs personal storage. Users choose whether they monetize their data and content as defined by smart contracts and foundational DAO’s. 

3. Community Values: Floyx will be governed by community-developed policies – derogatory content will be tagged with full records and classified but not canceled (just like the real world). All monetization options are defined by smart contracts and organizational policies defined by DAO’s. Community contributes to every aspect of their design.

4. User experience: All their design will make life simpler, easier and build delight to all participants. 

5. Incentives: Floyx will use micropayments economy to incentivize right behavior from all participants

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About Polygon 

Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.

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Source : cryptodaily

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