In a surprising turn of events, Tipcoin, the Web3 Social Network app, has rolled out its token distribution system for users, incentivizing social interactions and engagement. However, this move has sparked outrage within the Tipcoin community. This is due to the perceived unfair distribution of tokens and questionable filtering practices.
Additionally, allegations of unfair filtering and a lack of regard for the concerns raised by influencers have arisen. While the project is moving forward, it appears that the concerns of smaller participants are being overlooked. These issues have shed a negative light on the project and raised questions about its integrity and inclusivity.
Tipcoin farmed engagement for two weeks in Epoch 1 & 2
On the 5th of September, 2023 Tipcoin Launched its first dataset cycle, Epoch. This required Twitter ( X ) users to sign up using their website link, share their webpage Tweet it using the tag @tipcoineth and $tip to earn points. This process would attain the new user 100,000 epoch points.
Subsequently, after completing the 1st Epoch, the system still restricted users from claiming their epoch points. Moreover, with the launch of Epoch 3 on the 18th of September, 2023, most accounts have lost their previous points with no feedback whatsoever.
Adding to the intrigue is the mysterious identity of the team behind the alleged Web3 social interaction company. There is no information available about their code/web developer. Some suspect that this may be a ploy to enrich themselves at the expense of the community. This leaving smaller participants feeling like nonentities in the process.
A good example is @ix_wilson who filed a complaint and was attended to, 4 hours later.
He is among the highest users having the highest number of Epoch among the claimers in the first, second, and third epoch cycles.
The main intent of social tokens is to foster deeper connections in the community and get an added opportunity for monetization. This objective is clearly not achieved by Tipcoin. Given this, some in the industry believe that social tokens will play a key role in decentralized autonomous organizations (DAOs), that typically leverage a token that can be spent to earn rewards.
Moreover, people are adopting social tokens more widely, but developers are still developing use cases for these digital assets. As such, the future of social tokens remains unclear.
