Snax is a blockchain platform. It was created for people to receive rewards for their social activity (tweets, Instagram posts, and so on) and to make instant free micropayments without leaving their favorite social platform. Developers can use Snax blockchain to create decentralized social applications (social dApps).
SNAX token is a basic utility token of Snax blockchain. SNAX tokens provide Snax network operationing. Main cases of SNAX tokens using are:
Purchase of network's computational resources
Regular Publisher Rewards payments
Block Producers Rewards payments
Voting for Block Producers
Snax.One provides simple wallet interface for your Snax blockchain account and shows some data from Snax blockchain. Snax.One is a web3 application, running with browser extension. Snax.One is working locally on your computer, connecting directly to the Snax blockchain. It means, that Snax.One doesn't store any data related to your Snax blockchain account.
No, Snax didn't conduct ICO. Instead, Snax Foundation decided to issue 16% of all SNAX tokens at the launch to reserve part of tokens for platform support. The majority of this tokens is kept on the special escrow smart contract, which doesn’t allow us to use the budget uncontrollably.
SNAX is a utility token. That means you can send SNAX to any other user, and use computational resources of the Snax network by keeping SNAX tokens on your account. Noone doesn’t set or control SNAX price anyhow. Therefore we can’t guarantee that SNAX tokens will have a price eventually. Usually, the price of a crypto asset is defined on a free market, based on the activity of network users.
You need a digital wallet to receive a reward for your social activity. Treat it like a bank account and protect your password and seed words*.
At the same time, your wallet acts as your login. It lets us ensure that you (and no one instead of you) have the right to perform money-related operations with a corresponding account. It is like a digital sign, which is highly more secure than a traditional login.
*Please note, that we can’t help you with resetting password as wallets are independent programs, and we don’t have access to it.
Not yet, but we hope mobile wallets will be created soon.
You can donate SNAX tokens to the publishers you want to support. They don’t have to be necessarily registered on Snax — they can receive your transaction at any moment after they sign up into Snax.
You may send tokens to their social account name (see the full list of supported media here). Or you can transfer tokens directly to his/her Snax account, but in this case be sure that your friend is registered on Snax.
When you create an account, Snax stores this information in the blockchain. This operation consumes computational resources. To make the registration process free for you (to provide you with computational resources), Snax community wants to be sure that you are a real person. Your tweet is a proof of that.
Also, verifying of your Twitter or Steem account is necessary for you to receive Regular Publisher Rewards.
You just need to bind your Twitter account and make a particular tweet. And that’s it! After special Snax oracle verify your tweet, tokens will be sent to your account.
Not for free, but for the popular content. That’s the way to attract more social influencers to Snax community. The more publishers are registered on Snax, the more helpful is Snax network for every user.
Keep creating content interesting to your subscribers. The more interactions your post causes (comments, likes, reposts, and so on), the more your Regular Publisher Reward is. Be sure to create an account on Snax and bind it with Twitter account to receive rewards.
Attention Rate is a metric that being calculated for every post separately. It shows how much attention this post has received and can be calculated on the basis of interdependent factors:
This is called Scoring Round Time in Snax, and it depends on the social platform. For example, one Scoring Round for Twitter takes 2 days.
Every Scoring Round Snax distributes a limited amount of tokens to the users of supported social media (e.g. Twitter). The amount of tokens, which user will receive, depends on the Attention Rate of their content, and the total Attention Rate of all content published on the social network.
For instance: Maximum amount of SNAX to be distributed as a reward for the last Scoring Round is 500 000 000. During that round, Karl made 3 tweets, which Attention Rate is 300, 700, 500 respectively. Total Attention Rate of all content published on Twitter for the same time is 1 500 000 000. Given this, Karl will receive:
(300 + 500 + 700) / 1 500 000 000 * 500 000 000 SNAX = 500 SNAX
Snax takes account of any new post published in the last 7 days and interactions with it (likes, comments, reposts, etc.).
Usually it happen, if account you're trying to find, hadn't any significant activity in the last 7 days. Also it could happen if the account is new or inactive on Twitter, and Snax hasn't collected it yet.
There're 2 basic ways:
Keep creating content interesting for your subscribers. The more interactions your post causes (comments, likes, reposts, and so on), the more your Publisher Reward is.
Become a Block Producer. More information about Block Producers Rewards you can find in Snax whitepaper
All transactions in Snax are free of charge. One user can create up to 100 direct transactions per day for free. If you need more transactions, you need to stake more SNAX tokens by yourself.
100'000'000'000 SNAX in the 1st stage of the supply emission and no more than 2'000'000'000 SNAX per a year after that (in the 2nd stage).
Snax is an open-source blockchain system so that you can use any compatible wallet or even cli.
Probably you’ve exceeded your daily transaction limit (about 100 direct transactions per day by default). Another possible reason is that the network is overloaded. Try to wait for some time and repeat transaction later.
Snax is built on a decentralized public blockchain. Snax.One or any other party doesn’t have technical resources to change completed transactions. All transactions on Snax network are final and irreversible.
Snax uses DPoS consensus. Every block of Snax chain is validated by 21 Block Producers, which are elected by majority votes of SNAX tokens holders.
0.5 seconds per 1 block.
You can contact us at email@example.com. Or check Snax Discord community channel.