Hello testing testing. Okay, perfect shows me this figure out
One second everybody. We'll begin in just a few minutes
Just wait for the outer start
Okay, looks like we are here can we get a quick mic check
Mr.. Richmond if you can just give a quick hello to some do a quick mic test for begin
Sure, hello, can you hear me? Hi everyone?
Yeah, no, perfect you sound good no problems at all, okay, well the hour has begun
So for those listening we have with us today. We have
Richmond Tio from Republic. I'll let him introduce himself in just a moment of course
You know me already of course many of you we did actually recently have on
Republic in our discord community call as well where we talked a little bit about Republic
So I do have my own kind of intro to Republic in that sense
So we have a bit of a different round of questions as well
So very excited to chat with you guys once again
It was wonderful having you guys join us on the other week
Super fun experience the users love it the chat was very active with many questions
So it was really great all around. So I just want to thank you for that
And so yeah without further ado, let's just go ahead and dive right into it
Richmond or rich whatever you whatever you'd like to be called
Let me know for sure but feel free to just give us a quick intro to yourself as well as a bit of your
Background and work you do with Republic
Sure. Thanks for having me. Everyone can just call me rich. Most of my friends just call me rich
But my full name is Richmond
Very nice to be here. Thanks for having us again
I think at the last one it was the CEO and co-founder Daniel who was on
So I'm glad to have your audience listen to a different person this time
Yeah, so the quick intro is that I am the lead advisor at Republic
So I've been with Republic from very early on trying to give them
advice on how to think about structuring the company and
Strategy for the company as well as
Fundraising and all that for Republic. So
my background is that I started off in
investment banking and at a hedge fund in New York and around
2011 12 and the crypto so it's been 12 years now, I guess and
I co-founded a company called it bit back then today that company is being rebranded to Paxos
So I'm the co-founder of Paxos. We do a couple of different things. We do crypto brokerage
So if you were to buy crypto on PayPal from a car delivery or any of those companies
it's to us and we have a we yeah, and we have a we have a
tokenized assets business as well that has
Stable points. So the the recent PayPal stable point was done by us the USD
The Binance stable point was done by us as well as a couple more
including Facebook stable point
Initially back in the day for B stable point as well. So we also have a gold token. It's called
Believe it's still the largest gold token around and then we have some other businesses of own clearing and settlement
So, you know my background the space has really been on the infrastructure side
Thinking of how to build infrastructure for crypto and web 3
So after 12 years of that a lot of my ton of goals and vision has, you know, also
Tried to look quite a bit more at the consumer side of things and there's a lot of frustration for guys
Who are on my batch the early to the early?
20 the early, you know to the earlier batch of intense batch and in how crypto hasn't really
Gone that much mainstream despite despite, you know, all the efforts in the community despite how many changes have made, you know
The crypto is still relatively
Segregated and you know, we're seeing a lot of things change in the world today
And I'm very hopeful that you know, we are in a new cycle where there'll be a lot more
Mainstream interest in crypto and I really think that the big thing that breaks us away
From being you know, it's kind of a niche product kind of a niche technology
Into something that regular people and real-world people actually really want to use and have a lot of economic benefits from using and
And I think that's really really important for for crypto as an industry. So, you know, that's why
Republic Republic exists and you know, I think Republic is it's you know
Social five is one thing but I think we're very very unique
Case in social five where our goals and what we're trying to achieve is
Extremely different from the social fire projects that most people are familiar with today
Yeah, no, I agree and I like the the sentiment you had there with wanting to make that bigger splash mainstream
I really do feel the same in that sense that as quickly as we rose over the last few years
I felt I feel that we quickly fell the same way in the sense of the eyes of the general public
It's those long. Yeah, those long-term pieces that are gonna take just
It's a longer grind than we all think I think is the best way to put it
but I yeah, I can definitely agree with you there and
I'm interested to hear your side of things being more
Involved in a different way, especially since I spoke with obviously the other another gentleman a few weeks ago
Yeah, I appreciate that. So cool. Let's go ahead and dive right into it
So just for those that haven't obviously listened in before or may not know what Republic is on just kind of a general basis
Can you give us just your best simple intro into Republic?
Republic is a two-year-old company
Trying to try to solve a couple of key issues that we think
Would appeal to web to creators and really the mainstream general public. The first one is
monetization creative monetization of the specific and
So what we're trying to solve for is how can someone who's producing, you know, his content
Here's a her content, you know good content things that people want
How can we get these people paid for it?
And you know what we we basically look at, you know, what are the top jobs trending and how we think
Web 3 will basically change the way that marketing happens
And we need a lot a lot of that is going to be centered around individuals that become creators
So, you know you look at you know
Even in the US alone the top job out of college is actually off-site marketing or off-site sales
Which is you know create a you which is largely creative monetization
And so we would basically think that we want to create a big platform for them
Most of them are creating a ton of content. They only get branding partnerships
They get you know paid a little bit here and there by the large platforms if they get big enough
But they don't really have a way to monetize much better
They you know the platform takes the majority of the eyeballs the majority of the marketing and the majority of you know
Every single every single thing that they do the second thing we want to solve for really is is you know
These creators all around the world. They're gonna make platforms popular. They're gonna get all the eyeballs. You're gonna get all of this
And but they don't really get anything in return for that, right?
So, you know, so our concept really is the Republic token RPK is a singular token that
Represents quite a few aspects, you know first it's the utility token
On the platform, so it's gonna be used for everything and
It's gonna be the governance token as well
It's all NFTs or you know other types of products created will be backed by
RPK tokens, but I think the most unique aspect of it really is that Republic doesn't Republic started and doesn't really have
Equity in its structure. So, you know investors so on and so forth basically
Basically just get tokens and therefore
Whatever is created is continuously being
Put back into the tokens. So for example, you know, we've only launched monetization features quite recently
But we have about you know, one and a half million Republic tokens in revenue generated through fees
And then we eventually go back to the platform and therefore
Hopefully increase the increase the value of RPK tokens for the creators that will be getting them
And I think the third thing we really want to do is, you know
We think about what social platforms can do as they scale and as they grow and you see this
You see this today with what Elon Musk is doing with X
And you know putting payment rails in and doing all of that and you know, I think that's good
That's smart, but it's it's still really
the idea that I don't think will stand up through the test of web3 and
That is that you want to use you want to use the rails and you want to use the infrastructure
That is entirely owned by one individual and you know
I think that you know that concept of having social media accounts be able to transfer value
You know between users and creators between users and users between users of businesses that is gonna be very very valuable
You know to be able to do that within your social media app
But does it make more sense for for one person owner of that or does it make more sense for for?
Social media platforms to have an efficient web3 wallet that can be used in a variety of places
So, you know, we want to solve we think the world is heading towards that direction
And we want to solve these problems and basically get creators paid the maximum amount
And you know, we're very unique in that in a sense that when you tip a creator on our platform
We actually charge the person who tips a fee and not the creator and you know
We think that it's applied from girls and accrues more and more value because we don't have equity per se and all the fees will
Go back into the Republic token either by burning or by or by redistribution
You know that would basically increase the value for the creator
So they share the platform that they create and of course with that platform as it grows and all of that
You know, it will all come with a very efficient
cheap web3 wallet for them to be able to make payments and all that essentially, you know
anywhere that web3 products and crypto wallets are accepted
Yeah, I think that I like the comparison to what they're doing with Twitter
I think that in the same way they could be doing it a bit better
It just feels incredibly like I would say a good example as well would be
In the recent last few years, obviously like streaming platforms, for example
This is a huge social narrative for creators all across the globe
You know, we had a few new ones pop up immediately fail fall off
You know recently there's been kick, etc
But they're just following the exact same format essentially
Which just it feels like there's no
Innovation in the innovation in the general web2 space when it comes to these pieces like yeah, twitter is monetizing
Doing different beyond like youtube facebook, etc. Right? Yeah, there is no real I feel empowerment for the user themselves
Yeah, no, I think we definitely feel that way too
And you know, we can basically see that, you know
There's been very little innovation in web2 other than these little games here and there
That kind of makes it slightly more interesting for people
But at the end of the day, I think what what prevents real innovation in social in web2?
Is that they're all owned by equity holders who want to only maximize profit for themselves?
And they're not designed to be a community. They're not designed to
To basically redistribute value that it's created to to the people who create it
They are designed to distribute value to its shareholders
So it doesn't make sense that they would take a large step in anything innovative
It makes more sense that they'll just do these little things to try to make the platform more fun and interesting
So, you know, we kind of do that too in the sense that you know
We we we have these things called challenges where we use to bring on creators
In a very new space. So, you know that one one that was quite popular, for example was pole dancing
You know non-new non-ex explicit but just in art form and that people in that nation joy
And these these people aren't very popular on instagram or anything like that
They are basically not even allowed to post their content because of the the
Um, you know because of how people consider pole dancing, I guess
They come onto our challenges and they bring on their fans and their fans tip them and reward them
Vote for them and when they do that, you know, the the creators get republic tokens as well
So we think you know, that makes it a lot more fun and interesting
We also have these things called conversations where where our creators will basically post what they post in republic on their usual social media platforms
People will click into it count as their referrals and they can add different things in different conversations
And they can share photos with their friends and all that
So what we really want is to create that deeper connection
between the creator and the fan
And you know with all these touch points and then of course with the hope that the eventual touch point would be
transfer of value a tip or any other of the functions that we have
To basically reward the creator in in in the most meaningful way, which is you know
So, you know, I think that is that is a that is how we kind of think about how innovation should come in
And how people should do that
Um, yeah, and like I said earlier, I think one one show of how we feel that's important is that we don't
We don't uh charge. So if you look at, you know platforms like say twitch owning fans
Patreon and platforms like that
They charge they take a very large part of what anyone tips a creator
And and it's crazy and it doesn't make any sense right because you can't just put your qr code out there
Let's just say we don't exist you could just put your qr code and your and your wallet address there. What's the difference?
So we live in a world where we where the gatekeepers of all these things
Uh actually don't really need to exist as much as they did a couple of years ago
I think that's one of the key things that web3 brings in that is really really simple right the community aspect of it
The value of a community and as well as the ease of transferring something that could could be valuable
May not be monetary, but it could be valuable
And and you know, I think that with that coming into the fray
It's a it's a big it should be a wake-up call for the traditional social media platforms
But we don't see that because most of them largely act as monopolies, right?
No, I completely agree. It's you'll see uh, like twitch deals even even big guys where it's like 50 50
It's uh, it's which is crazy
Uh, because at the end of the day like what are you know, what are they doing in the sense of the content, right?
Like what is the the big shareholder, etc? They're not really doing anything. Yeah, um, you have guys like 30 70
It's insane. Like i've seen some crazy things come up
Yeah, it absolutely makes no sense
And and I think that that business model was from
A while back where these things were impossible to build right and and I think they could get away with this
Yeah, and I think that you can also separate like, you know platforms that are for for gaining fans
um, and I think that you know those platforms have you know value beyond the platform itself because
They are they're actually, you know showcasing your your content and helping you get a wider and wider audience
So I can see the value that those bring right and and you know those would be in tiktok and instagram, for example
But if you if you're looking at, you know twitch, uh only fans and that category
Um, not much not much not much value add, you know in our opinion at least
No, I I I agree also I yeah, I just want to shout out what you mentioned earlier
Um, I like that you guys are with the challenges. It's very interesting. I like that you also are taking
Kind of the initiative into different areas like different artsy areas. I think that's really important to establish
You know what you're okay with and and you know, just getting involved in different areas. I think that's really cool from you guys
That's that's pretty fun to see especially when you know, that's such a larger obviously topic
We obviously won't go into that like what's arvin what's not etc. But uh, very cool. Yeah, i've i've seen some uh creative
pole dancing stuff before done
In like a live art show is very cool. So
Um, yeah, but yeah moving on of course
So my my question for you so from your perspective i'm just talking about ease of use for users and that kind of user experience
Could you kind of walk us through for those listening kind of what uh, how a user would navigate republic from
Downloading until kind of effectively earning based on the current product
Absolutely. Um, so republic is designed really uh, uh to be something that web2 people can use
Without too much hassle. So unlike most web3 products
the first thing you'll notice is that you're not required to connect the wallet instantly and
You know to us that doesn't make much sense because most web2 people don't have a wallet and don't have
Eve or whatever whatever token is required to transfer. So, you know, first off that's not required
now for the to answer your question republic is available on ios android and and web app
And this again is different as as opposed to most social projects. You see that those are you know, pretty much any web app
You know users can download either any of the app virgins
but of course we we encourage web app because web app has a
A wider range of web3 functions available
So, uh, you download the app, uh, and you can log in using regular web2 methods
You know including google and and all that, uh, and you can you know, set up your account very quickly
um, and then you basically
You know go through the basic stuff and then you get to choose
A couple areas of interest that you will be that stuff that you'll be interested in and then that's how the ai starts
From a relatively cold start to basically push you content that you might find more interesting
So, um, you know, there are different categories
You could choose some of them and then your feet will be initially populated with those categories
And then what we do in the background is basically figure out exactly how much time you spend
What type of thing it is every piece of content is tagged with, you know, hundreds of tags with different weights
And we know down to the split second of how much time you spend on each what what you like
What you comment on things that you find interesting and that basically helps populate, you know a feed, uh for for you over time
Uh, and then the next thing the next thing to do is to basically
Uh start earning uh xp on the platform
So xp is basically how we calculate how much value a user brings to us
So we are shifting the way we calculate it now from a very basic, you know
A web2 interaction space to an entirely ai driven
Way of calculating the value of someone's content the value of someone's interaction
As well as the value that they bring to the to the social network itself and the web3 network
So, um, but but you know as that's that transition is happening in different phases
But basically, you know, the easiest way you could do it right now is to refer new users
Uh to have content that is interesting that people like
Uh to use some of our web3 functions, uh, including
Staking and stuff like that. Uh, and and so once you start earning xp, you'll automatically get rpk for free
Uh, and then when you want to use that you have to activate the wallet, which is in the app. So if you click on
Uh, how much rpk you have in your profile picture?
So in your profile page, you would be directed to the republic wallet
Uh, and you activate it by doing a quick liveliness check
So once we figure that you're a real person the wall is activated
Uh, you're then you can start using your rpk tokens, uh that pretty much, you know, most people will get for free
After they hit some, you know, xp track holes
then, uh, you can you can start earning you can tip your favorite, uh creators and
and of course you can also
deposit rpk you can withdraw rpk, uh, and you can also stay rpk within the platform
Very cool. I like that the beginning of this just kind of the way that uh people would go about
Um, you know, uh getting started with the app and going through all these things and we encourage
Adrops are basically available if you if you interact and you you come into the platform
And and you log in and these adrops
These community rewards rather
Are are basically daily and we're adjusting them over time
Oh cool in terms of how it balances out the republic ecosystem
So the rewards come obviously in direct community rewards based on your on your xp
As well as as well as staking, uh, and many other ways that we're looking to do what our community
Yeah, I I like that a lot especially the daily stuff. I think that's a great way just to have
Oh, is my mic not working
I'm not sure if it's me or what's going on. Can someone react if you can hear me? Is this working now? Hello
Hi, hello, uh, what is going on?
Hi, hey, hello, do you hear me?
Sorry about that, is that me hello, um, can you hear me now?
I think uh, yeah guys for everyone listening if you can hear me
Rich cannot hear me, but I can hear him
Let me exit and rejoin again
Hi hello, is this better?
Looks like uh people can hear me
How's this can you hear me now
Rich you there? Hi, Duncan. Do you want to say something?
Uh rich you can hear me now
What is happening, uh, let me see
Sorry about this guys, let's see if this works with the rejoin from rich rich, can you hear me now?
Yes, I can hear you perfectly now
I'm so confused what happened. I could hear you, but you couldn't hear me. Yeah, I answered
Uh, you answered the question. I started to respond
In the middle of responding you kept going. I was like, I was like, oh, okay. No worries
I didn't realize you couldn't hear me. So sorry about that. Well, you know, Duncan. Sorry about that
But I guess uh, that was strange, but I guess this is another reason why we need a new social media platform
Oh my god, that's a great example probably some sort of decentralized
Sharing, uh protocol is needed to solve problems like that
No matter what goes on at x or twitter or whatever you want to call it
Uh, this has been probably their longest running additional feature. That just doesn't work
They removed every other feature. They tried but they've kept this one no matter what but it just doesn't work
Republic will work on it for for next year. Our roadmap for this year is pretty full
That's very exciting a little bit alva. Um, I mean well after you do so many of these right it just continues to fail
But yeah, so so continuing on I did hear your answer
I think it's a great process to kind of begin and just introduce them into that social area first
Let them kind of get that comfortability and then introduce the kind of uh rewards the daily rewards. I really like that as well
Um, I think that's awesome. And obviously talking about the token you mentioned, you know, most people will earn the token on the site
Um, my question for you as someone that would possibly be looking to be an investor in republic
What's the kind of uh way for me to navigate from buying um rpk to and depositing to you know earning on the product as well
Is there anything I need to do or look out for
No, it's it's going to be it's actually a very very easy process
And you know, we're we're actually very familiar with just because we're also helping a lot of web2 people
Um, basically, you know, we're listed on six exchanges
Uh, we've been listed since mid november last year
So it's been uh, it's been two months or so. We're listed on six exchanges and they are bybit who coin
So these are six exchanges they're available on so whichever one
Someone has an account to you can and you can go ahead and on the spot trading side you can purchase
Those are the republic tokens rpk
Basically, if you have done your likeness check on the republic platform
You can just click into your wallet and then click on deposit and then that takes you to uh,
The qr code or to copy the wallet address and then you can just go back to your exchange app
Paste that address in and then you can just withdraw directly to that wallet address
Once the network has confirmed it
You know, it will be reflected in your republic wallet within seconds
Okay, great. So very simple. Yeah, it's very very simple. So we partnered with fireblocks, uh to create this so we had the problem of
How we don't want you everyone to create a wallet and connect to it immediately, especially for the web two people
But how can we still deliver the same level of service?
So we wanted something that felt like it was a sex a centralized exchange
And people could just do that relatively easily and uh, the withdrawal process is very easy as well
Um, you know and and we also offer the ability to um, in fact, we wouldn't offer it's the only option
You withdraw your republic tokens, uh, and instead of paying gas fees. Uh, um, uh, we'll basically
We'll basically take care of that by uh, by um by charging rpk tokens when when users withdraw
So we want to make the whole process
Yeah, I like that a lot I think honestly like
Just for for anyone listening as well if you ever are looking to do something in the space with this when I think when it comes to
Social media and I would say this whole area of the internet where it involves application use
Much under I think a lot of people underestimate how much convenience people actually want
It is people are I we all need to remember I think at the end of the day where I think in the web
Three spaces a lot of ambitious, uh, you know very driven people
But those web two people that we want to bring on a lot of them when they come into this now understanding
They're very lazy. They want that convenience, right? And I get it. I totally get it
I can I can be that guy just the same and I think that that will just go such a long way in the long run
Exactly, you know, we kind of I think most web free products are built by web3 guys
And I think you know that's that's a bit of a problem
So when we started we actually went out to creators and we asked them whether they like this concept that concept
And and basically we've got creators and we call this a quarter round of creator only token offering
Uh, we we went out to these individual creators and we said hey
You know, why don't you put a little bit into this and tell us what you like to build
And they basically gave us feedback along the lines of you know, buying the token is going to be hard enough
You want me to also buy eef or whatever or whatever chain you're using and then deposit to my wallet and then you know
You want all these things like that's that's crazy, right?
So so we basically work on devising this product and and we saw with you know
Not just crypto in general, but you know, uh social by platforms different categories than us
But you know other parts of social pie, um, you know, they they have they have issues like that
Right as they as they got web3 people to interact with web2 creators
Uh web2 creators which which are, you know, very important in this process
Um, you know didn't have a good experience with that. So we tried to fix that and we worked with fire blocks
Uh to do that and you know fire blocks offers would be you know for those who aren't familiar is not at fire blocks
But uh, they they create this seamless very very fast process
That is also perhaps amongst the safest wallets to use in the world
So we really wanted to focus on safety and security for the web2 users
Like that a lot. I think that that process is just so important. Um, that's really nice to hear
I like you guys are taking that angle
Um, and now earlier you mentioned as well. Obviously the the roadmap for the year is packed you said
Um, you know anything just you know right now you could let us know about any key developments that we can look forward to this year
And kind of how maybe some of these things that you're planning for 2024 align with republic's overall vision
Sure, uh, so uh before I start with with with that just you know, it just let everyone know it's uh
uh, we actually haven't uh announced it yet, but um
Uh, we we launched and I mentioned it earlier. We launched speaking and deposits, um, actually very recently
So we haven't even had that full announcement yet
Um, we you know, we listed and then we made withdrawals available, which is what the community wanted and you know
I think that you know, we probably shouldn't have listened to that part of the community. It wasn't very large voice
It wasn't a very big fraction, but it was a pretty large voice
So we kind of regret doing that but um, but now we're balanced out by making
Not just withdrawals but deposits also available and uh staking is also available now in the app
Um, you know, we'll be announcing that more widely soon
But you heard it here first. Um
And so, you know, I think the key things will probably go down to two paths
Uh, just you know in terms of what are the key developments? I think that
Um, the the first path is really what we talked about. We should not focus the creative monetization
So tipping is now working. Uh, it's over the platform
Are you doing the latest numbers on me?
But then, uh, we charged three percent for tipping and we've generated
Over a million in fees and that includes some other fees as well
But then, you know, it's been very very popular
People have been tipping random amounts for attention or for just to say hello or to get a reaction back
So so that's the the first creative monetization thing that we we have so very soon. We're going to do something called
Unlock the chat where creators can can set creators or anyone else really can set a minimum amount of rpk
They want to be tipped before it unlocks the chat feature with them
So, you know and so basically for for people to even just start a conversation with a creator
They would have to make some form of uh, rpk
contribution to that creator and that will basically and for you to appear in that person's dms
And you know the kind of feature we'll have on top of that as well
Is that uh when the creators open their dms they are able to see who is looking for them?
Based also on how much they've supported them and how much rpk
They are fan this particular fan holes. So I think that helps sort out
That helps sort out, you know, who are the random?
Who are the random dms if you look at instagram?
There's so many categories if you're a popular creator
And if you want to slide them into someone's dms and that you want that person to see it
The easiest way is to be on republic and basically use this unlock the chat function and hold a single file rpk
And then of course the other creative functions which are important to less detailed subscriptions, you know works like subscriptions in many other places
exclusive content, uh, it's just content that is uh, that is single single view that is
That is limited to a number of people who can view them
So it's something that you can prove your own truth you have
Uh, and it's going to be obviously proven to be in limited quantity. Uh, and then the third piece is creator token
Um, and and it's a little bit is very different the way we think about creator token compared to most social fire platforms
So social fire platforms at least the the latest iteration they think of creator tokens as I guess keys
Uh to use their term, uh as as a way to access that creator
So we think about creator tokens differently. We think that creator tokens should basically represent
Uh some sort of value that you believe the creator has and in in our case value is how much the creator
How much an rpk the creator is generating for himself on the platform?
So the the creator token represents a fraction of that
That is not distributed but instead locked up into a vault
And so and that prevents what we think is a big problem that we see in social fire generally that uh, you know
Creators are popular for a short while and then they leave then, you know, their tokens become, uh, um, um, you know
So, you know, that's how we think that we can stop that and create a long-term sustained
Way that creators can you know create value from themselves and share that value with their most loyal fan base by by having them own
So these are the this is the side of uh monetization that we think is extremely
Uh valuable and I think that you know, like we talked about, you know, it's expensive or doesn't exist in web 2
On the yeah, it's I I don't think people are thinking about it that way and in all these cases that you know, I mentioned
We're expecting the creator to we're planning for the creator to not pay anything
Uh and basically keep 100 percent of what their fans want to give them
So, uh, you know, it's really going from like you said, you know, 30 70 70 30 or or even more extreme
Uh to essentially 100 percent and we think that is going to be a good value proposition
No, I like that a lot. Yeah, thank you
I was going to say on on the other on the other side of uh developments that that you know
We want to we want to bring on is really
Uh to further build out the ease of access for both web 2 and web 3 creators
and you know when I say that I really mean access
uh to the tokens and access to uh, uh access to
Creator tokens nfts or other things that the creators are selling in digital form on the platform
Uh, so, you know in in terms of getting the tokens more easily
Um, you know, we're basically going to be building out easier free up riddles for people to directly purchase
Rpk tokens on the republic app
So when you bring on your fan base your fan base can support you directly and not have to go to an exchange
And you know buy and then deposit and stuff like that. So we're looking to do that soon as well
Um, we're also in terms of getting the token more liquid and more readily available
Uh, we're uh this year there will be new listings on larger exchanges
Uh, and and of course, we also want to and and we're trying to figure out what what's a good range perhaps with stable coins
Uh, we're introducing more payment methods on the platform
uh, so that right now the only thing that the wallet accepts is uh, the only thing you can deposit is republic tokens rpk
um, and we are looking to basically add more forms of uh
tokens into the platform most likely
Most likely stable points and of course creators themselves, um, you know, they also want an easy cash out
So this year as well will be we'll be partnering with
With some providers to basically link their to link their republic wallets for the creators to link their republic wallets
Directly to credit cards so creators can basically, you know instantly use
Instantly use yeah instantly use what they are paid without having to worry too much or go through
and and of course the last piece of access is that
Um, you know will be also launching a marketplace within uh, the republic app
Uh, the marketplace will will basically enable people to
You know buy and sell creative tokens, uh creator nfts
Um, you know get more republic tokens
And stuff like that sells in republic tokens and and so, you know, uh, we basically want to help creators
You know if they are curating their fan base on republic
They should also be selling stuff to their fan base within republic and that makes it easier for them
And uh, the marketplace will be entirely powered by republic everything will be traded against the republic token
And all fees generated will be in rpk
And will be will either be burnt or redistributed, uh to the community
Yeah, so I think those are the two big areas that we are looking to uh to defense this year
Yeah, I I mean it sounds like obviously a packed year
Um, it really yeah, it seems like a a really nice kind of general ecosystem. You guys are putting together
With the heart of the you know, the creator at the center, right the whole prospect of
100 zero is so crazy to think about right?
But you know, I think it is possible long term in that
You know, I I like the um, you know the mission you guys have there for sure
It's something I I have a big interest in personally just
Being someone that's just spent such a larger, uh or longer period online myself and getting involved in these different areas and kind of seeing
These things come to light. It's it's definitely interesting as things grow along for sure
I'm definitely excited with uh, you know, what's coming from republic. I really like that tipping feature you mentioned with with that. I
Kind of used when it comes to like you mentioned instagram, but I know that there are um
Like the the the types of like only fan sites that do that as well for people if you want to get a dm
I think that that can just be used in general though
Like because a lot of people get a lot of dm if you have a following you'll get a lot of spam that is for sure
Um, and it just also can be used to gate communities as well. That's another thing that I think would be
Um, but sorry, that's just a thought from my end, of course
Yeah, no, I think I think you're making very good point
So, you know a lot of the more simplified ones like like, you know
We mentioned a whole long list of things that we think are useful for creators to monetize
But I think you're right if you're in a format or in a chat within a platform
Um, you know that a lot of that just comes from direct tipping and it works with most of the cases
Which is which is why we we we basically, you know made that our first feature
Um, but I I think that in terms of gating communities
Uh, we think that the unlock to chat feature is going to be it's really more interesting, right? So if you think about you know, why?
Uh, uh, why some of the the recent, you know way from social fire, uh companies, which I guess is died down somewhat
Um, you know led by friend tech, uh, it was really
You know basically basically it was a key but it's just an unlock to chat functionality, right?
So it the problem with that is that it doesn't guarantee you
That uh, you may be able to chat with someone that but that doesn't make sure that doesn't it doesn't ensure that that person wants to chat with you
Right. So, you know by having a set fee structure like that, um, and of course creators can set to whatever it is
uh, but it starts a conversation
And then and then there's a secondary effect where where you you know as a creator you obviously want to talk to someone
With the means and resources to support you further
And so, you know being able to have that be I guess a you know to to to put it, uh,
Brutally, it's a transparent. It's a transparent negotiation and transparent use of time, right?
So, you know, I got paid x dollars and and if I want more people to do to
To chat with me and to pay unlock chat to me i'll probably go chat with that person
And if I know that person has a lot more
Uh in our case rpk tokens to tip me then i'll be more interested with chatting with that person
So it's kind of a very crude
Base way base human way to solve the problem of how every single instagram
Tiktok creator says that they don't even check their dm's
They just closed it. They just completely closed it. Yeah, exactly
Yeah, it's definitely an interesting area. I'm excited to see where that goes, especially with what you guys are doing
Um, and I appreciate these these explanations. This has been a very interesting conversation
I've enjoyed this a lot. It's cool though. It's great because I I spoke with with two of you guys, right?
Daniel as well and two very differing interesting conversations. So very exciting to to hear all these different kind of outlooks from you
Um, you know from the two different sides of the company and I appreciate you guys taking the time to join
We are kind of at the end of the discussion for today
So I have one last question for you
Do you just have any final words for those listening today anywhere you'd like to guide them a galaxy campaign that you'd like to
To promote to let them participate in?
Um, you know where they can go to get involved in the community
Yeah, no, thanks. Thanks for the uh, thanks for that. I um, you know, I would love to encourage everyone to check out our galaxy
Please follow us and we will be launching interesting new campaigns
As well as a lot of promos around staking as well and we'll be giving away a lot more via galaxy
I don't think I mentioned it earlier, but then we have a promotional
Staking apy of 80% right now for the month of january
so, uh, if you're interested in republic tokens and uh, and
80% apy now is a good time before the end of january
Uh to come, uh, check us out and get involved
I love that glad glad to hear it glad for the users to be able to get involved in these different ways
Super fun stuff. I'm real excited for what you guys are doing. I think you're making a real difference in the social pie space and
You know, I know it's going to take some time, but I um, you know, i'm excited for the for the long run for sure
Um, thank you rich. It's been awesome chatting. I appreciate it. Uh, greatly for everyone listening go check out republic twitter, of course
Join the discord and obviously make your own account on republic at the end of the day, right?
That's the number one thing. So thanks again. Everyone. We'll see you next time and have a great morning afternoon evening night