Friday, 19 July 2024

Crypto News threatens to punish users if they use copycat apps threatens to punish users if they use copycat apps

Crypto’s newest decentralized social media (DeSo) app has been met with intense criticism over a decision to punish users who opt in to forks or copycat versions of its tokenized social media platform. 

“To make sure loyal users are rewarded fairly during our beta, users moving to forks and copies will automatically opt out of earning Points and forfeit existing points,” wrote the official X account in an Aug. 28 tweet.

While did not make mention to any specific competitors, and number of X users in the reply pointed to a new DeSo or “SocialFi” application called Shares which is scheduled to go live to public beta on Aug. 31. has been airdropping “reward points” to its beta testers every week, which will total a distribution of 100 million points over 6 months.

The team has not yet shared what the points will be ultimately used for, only mentioning on Aug. 15 it “will have a special purpose when the app enters official release status.”

Some expect it to translate to tokens to governance, while others believe it could have some financial significance for users. Others believe that due to the seed round investment from Paradigm, there will likely be a native token airdrop in the future.’s announcement did not go down well with members of the crypto community.

Within the first hour of the announcement being posted — it attracted hundreds of negative comments and reposts that derided…

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