This is paramount to the growth of Ethereum and we align the thesis of SocialFi 2030 with our goal to reach 50,000,000 wallets across the Form ecosystem in the next five years.

We will realize this by evolving the concept of the bonding curve into social media channels, broadcast channels, user-generated content and many more funnels that we’ll discuss later this year.

SocialFi 2030: Our Incentive Campaign for Form

Our SocialFi 2030 goal started with our mainnet launch last week and continues today with the announcement of our growth campaign on Guild. Each quest is crucial to shaping Form and many tasks will qualify your wallet for the FORM airdrop.

Complete Quests in Guild to Qualify for Airdrops

Completing SocialFi 2030 quests in Guild will get you roles. Make sure to complete each task in each quest. Roles will be important to advance to future quests and qualify for giveaways, incentives and airdrop opportunities. Our discord will be a general resource for advancing through quests.

We recently highlighted that the Form Foundation is allocating 7% of the FORM supply for on-chain users of apps in the Airdrop hub from now until TGE. We are mentioning this again here.

Using apps in the hub will grant you Phase II points which will give you a larger portion of this 7% allocation. The 1% allocation for Phase I poitns is over and you’ll be able to see how many tokens you can claim soon.

Join us now in our quest to decentralized Form by complete by completing Week 1 of SocialFi 2030 on Guild here.

We will see you in discord and look forward to seeing your skills on social and on-chain!

P.S. You may want to mint this post 😊

- Form Team

Users who stake SolvBTC and SolvBTC.BBN (a Solv LST for Bitcoin staked in Babylon) in Meditations will receive 2x Form Points, which will convert into FORM tokens upon TGE and 12 Solv XP points for every $ staked in Meditations. Solv XP are points that will be used to allocate a portion of the airdrop of Solv’s token at a future date. We are also exploring exclusive FORM benefits for larger Solv LPs, you can find out more by messaging the Solv team directly.

A reminder to stakers that 8% of the FORM token supply will be collectively distributed across those who stake in the pre-deposit campaign and those who participate in Form mainnet activities. This directly applies to those staking SolvBTC and SolvBTC.BBN in Meditations.

BTCfi 🤝SocialFi

As tokenized bitcoin begins to enter the native yield, staking and broader DeFi space, Solv Finance has emerged as a leader in the BTCfi category, securing over $1.7B TVL across their primary assets SolvBTC and their growing list of Solv LSTs like SolvBTC.BBN and many others.

We’re beyond excited to bring these assets into the SocialFi space, bridging SocialFi, yield and Bitcoin for the first time in the history of Ethereum.

If you are new to Solv, you can mint SolvBTC by depositing WBTC and other assets here or swapping on a DEX. You can mint the SolvBTC.BBN LST by depositing SolvBTC here.

If you already have SolvBTC and SolvBTC.BBN, head over to Meditations to earn Form points now!

Users who stake STONE and SBTC in Meditations will receive 2x Form Points, which will convert into FORM tokens upon TGE, 2x STONE-W1 points for STONE deposits as a part of Stakestone's Omnichain Carnival airdrop and 2x STONE-BTC points for SBTC deposits.  We are also exploring exclusive FORM benefits for larger Stakestone LPs, you can find out more by messaging the Stakestone team directly.

A reminder to stakers that 8% of the FORM token supply will be collectively distributed across those who stake in the pre-deposit campaign and those who participate in Form mainnet activities. This directly applies to those staking STONE and SBTC in Meditations.

StoneFi 🤝SocialFi

STONE has become the omnichain liquidity layer for ETH, securing over $400M in TVL and is currently in use by over 100 partners. We’re so happy to bring Stakestone into SocialFi with STONE and be an early SBTC partner with Stakestone Bitcoin!

If you are new to Stakestone, you can mint liquid STONE by depositing ETH here and at the moment you can mint SBTC by depositing cbBTC here. If you already have STONE and SBTC, head over to Meditations to earn Form points now!

Over 30,000 users participated in our first Galxe campaign and we are so excited to introduce our second Galxe campaign today: DeFi Week on Form (Tweet)

During these next two weeks you'll meet some visionary builders, projects and infrastructure that are helping us blend SocialFi and DeFi as categories. This includes decentralized exchanges with programmable pools, decentralized lending protocols that focus on liquid staking tokens (LSTs) and liquid restaking tokens (LRTs) for collateralized borrowing, and the incredible infrastructure projects that make this all possible.

We would also like to thank Guild for getting the Form testnet live on their platform. Users can use Form's testnet on Guild for a number of activities like token-gating and we will have Guild Secrets throughout the campaign which will enable you to get Guild XP. Stay tuned!

Our goal with Form is to extend SocialFi to the outer reaches of Web3 and beyond. We see SocialFi as an integral part of the larger Web3 social movement and an emerging part of decentralized finance. For the next two weeks we will begin to explore some new projects pushing decentralized finance forward at Form.

Fibonacci: the Ecosystem DEX of Form, powered by Algebra

The Fibonacci team has years of DeFi experience outside of the EVM and on EVM L2s as well. They've been core contributors on DEXes that have established significant TVL in the past and are bringing their experience to Form as an ecosystem DEX for tokens on Form.

Fibonacci offers seamless decentralized trading and liquidity provision, powered by the modular AMM engine at Algebra Labs. This means the Fibonacci DEX comes equipped with custom plugins that can function directly with liquidity pools, unlocking features like dynamic fees, on-chain farming and several ready-to-use plugins.

The team at Algebra states that their Integral model saves "7-22% on gas costs on average compared with Uniswap V3". “Algebra powers some of the top DEXes in crypto with its AMM model – over 20 exchanges – and can now count Fibonacci among that group. We are so excited to bring this team to Form!”

Shoebill Finance: LST Collateralizable Leverage Lending Protocol, with Oracles from Supra

Shoebill Finance has become a force in the L2 space across many L2s like Manta, Metis, Mode and several Bitcoin L2s as well. They are now bringing their knowledge and expertise in lending to Form as we begin DeFi week.

Users will be able to provide testnet liquidity for LST pools on Form very easily and borrow against those assets. This will be a small sample of the ecosystem that users will experience as Form approaches mainnet.

Like many lending protocols, Shoebill utilizes "push" oracles which proactively send data to smart contracts when an event or condition occurs. Shoebill lending on Form is powered by Supra Oracles, providing push oracles to a number of price feeds on Form. Working with both of these teams has been a joy and we are happy to welcome them to the Form family.

Our Path to Decentralize SocialFi

DeFi is a big part of Form's vision to decentralize SocialFi, it allows the true network value of communities and protocols to be realized across Form as well as other chains while keeping our pledge to give users the unrestricted right to transact, the right to bear a market and the right to own.

Join us as we advance towards this vision with Form DeFi Week. Several of these quests will qualify users for a Form airdrop (perhaps even the minting of this post). Check in with us on discord and twitter as you complete quests. We're too excited about this one!

- Form contributors

We will bring 30+ projects to the network upon launch of the Form mainnet in Q2 of 2024 and plan to release a Form governance token within a year of the launch.

When we look at SocialFi currently, we see a promise of interoperability and decentralization that has not yet been realized in this space.

We see the dream of an ecosystem where the profile tokens from one crypto app can be the channel tokens or group tokens of another. We see the importance of these tokens entering the broader crypto capital markets on decentralized and centralized exchanges. None of these opportunities exist or are currently possible for users in any SocialFi application at the moment.

What is the ideal: a creator having one token to realize their community as a digital asset across all SocialFi platforms, or the present need for a creator to have 6 different SocialFi tokens across 6 different platforms? The latter only creates a fragmented, centralized, near-dystopian setting led by platforms and not users.

It is Form's mission to create a SocialFi ecosystem guided by users. Where the network potential for SocialFi communities has no upper bound and is not tethered to centralized contracts or siloed platforms, but instead pushes the limits of permissionless interoperability. Your SocialFi tokens deserve their own contracts, and we aim to realize that promise on our network.

To put it simply, the Form blockchain is coming out of stealth to begin a pathway to SocialFi decentralization starting right now with you, us and many of our friends that have been building for years in the crypto and social crypto community.

A Brief History of SocialFi, or Why We Are Launching Form

SocialFi was popularized in late 2023 and made sense according to crypto's first principles which generally bring to market financial use cases around trading, value creation and payments.  Product-market-fit soon emerged in SocialFi as a bonding curve that can represent the layer of interaction between the creator and their community. Simple utility-driven use cases were formed, resembling ICQ/AOL-like chat rooms that were seamlessly tied to the creator's bonding curve. When a user bought a creator’s token, they entered the creator’s chat room and the creator’s token was priced higher on the bonding curve.

SocialFi soon began to take off exponentially as new teams forked the repos of projects like friend.tech that popularized the category. It seemed as if there was a new emergent crypto primitive that could be introduced into a wider crypto ecosystem. We were excited for a world where the tokens that were introduced in one SocialFi platform could be ported to another, integrated into DeFi, bridged across chains and staked in rewards-based protocols. We were sadly mistaken.

What followed in 2023 SocialFi was a backwards reality where the "tokens" that were "created" did not even have contract addresses tied to a blockchain. These tokens were not owned by their users, they were siloed on platforms and could not benefit from the agglomeration of financial primitives present in DeFi and other categories. This would be akin to tokens on Uniswap not being compatible with tokens on another DEX like Balancer.

We began to wonder how such a reality is possible after nearly 10 years of decentralized applications. How could builders not know that all innovation stops in crypto once the right to transact is removed? And that the consequence of centralized determinism in this space, where the outcome of the network is determined by one group, is the erosion of trust and potential value that users see in a system?

These results are fine for one single platform, but not for an entire emerging sector of crypto with so much potential for growth.

The Path to SocialFi Decentralization

We are launching Form to advance SocialFi and bring interoperability into the ecosystem. The mission of Form is to integrate bonding curves across online communities and financial systems. Form contributors have created a unified framework and infrastructure for SocialFi bonding curves to interact with the wider crypto ecosystem. These projects will be revealed soon on the road to Form’s mainnet.

For SocialFi to realize the promise of other crypto primitives like DeFi, DAOs and NFTs, it is necessary to reimagine the category as a fully interoperable standard with the rest of the Web3 economy. This is our dream with Form, to uphold the fundamental principles of decentralization for SocialFi that empower individuals and communities alike.

We pledge to ensure the unrestricted right to transact, to bear a market, and to claim ownership; to steadfastly oppose centralized determinism; to champion interoperability and progressive decentralization; to foster community governance and decision-making; and to instate transparent and fair reward systems. These are the core tenets that guide our mission to advance the SocialFi landscape.

The Right to Transact

We proclaim the right to transact as an inalienable right at the protocol level, ensuring every participant has the unrestricted ability to engage in economic activities, free from undue interference.

The Right to Bear a Market

We uphold the principle that every individual and community has the inherent freedom to create and participate in all markets, fostering innovation and economic diversity across the SocialFi asset class.

The Right to Own

We affirm the freedom and integrity of personal and communal ownership, ensuring that all users have sovereign control over their digital assets.

An Opposition to Centralized Determinism

We reject the over-centralization of power, we champion a system where decisions and influence are distributed across the network.

Interoperability

We commit to seamless integration and cooperation among independent decentralized systems, ensuring that the right to transact and the right to own will define the SocialFi ecosystem.

Progressive Decentralization

We commit to the relentless pursuit of a fully decentralized network for SocialFi applications and the Form blockchain itself, where power is continuously redistributed to the edges, to the users themselves.

Community Governance and Decision-Making

We aim to empower our users through direct participation in the governance processes, upholding the democratic ethos that every voice matters.

Transparent and Fair Reward Systems

We advocate for clarity, opportunity and fairness in the distribution of rewards, recognizing the value of on-chain contributions in the Form ecosystem.

These are the guiding principles of the Form blockchain, dedicated to advancing the SocialFi ecosystem and the empowerment of its users. Please hold us to these principles and help us shape the foundation of SocialFi at Form by following us on Twitter, joining our Discord, subscribing to our mailing list and following our Telegram announcement channel.

You may also want to consider minting this post here on Mirror and future posts 🙂

- Form contributors