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Persystic Token (PSYS): The social cryptocurrency

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Persystic Token (PSYS) is the cryptocurrency used on the Persystic platform, a community-driven decentralized social media network that is the first of its type. Persystic was created to resolve the many issues affecting social media today, including unfair monetization policies, privacy and security concerns, and more. Persystic employs advanced security measures to ensure that user data remains safe from bad actors such as hackers.

Persystic Token (PSYS) vs Traditional Social Media

Social media platforms are integral to how we live our lives today, however, the existing market is dominated by a relatively small number of platforms in which the creators and owners have become very powerful. 

This has led to issues such as a lack of democracy and transparency in how the platforms are run, with a disproportionate amount of benefits going to advertisers and partners rather than the community of users.

  1. Content Ownership and Monetization

For example, social media networks like Facebook have come under fire for a lack of fairness and transparency in their monetization policies. Creators do not own their content on these platforms, and rather sign away their rights to the content in return for access to the platform and its community of users. In addition, creators cannot monetize their content on many of these platforms.

On the Persystic social media platform, creators have full ownership over their content. This includes the right to monetization, meaning that users can earn from the content they produce. This mechanism is also used to incentivize the creation and generation of authentic content with Persystic Token (PSYS) rewards.

  1. Privacy

Privacy has been a rising concern with traditional social media networks. Many argue that the measures in place for protecting the privacy of users are insufficient and that these platforms are exploitative of users’ data which is then sold to and shared with third parties such as advertisers. Often users accept the mandatory terms and conditions required for accessing these platforms without fully reading or understanding the policies.

There is also a lack of right to erasure mechanisms, meaning that content published on these platforms is stored on the company servers indefinitely and users have no course of action to take for removing them.

On Persystic, user privacy is of the utmost importance and the platform has been created in a way that does not steal or share user data with unwanted third parties. Additionally, users can request that their content is permanently removed from the platform in line with EU “right-to-be-forgotten” laws.

What is Persystic Token (PSYS) used for?

Persystic Token (PSYS) is a BEP20 cryptocurrency built on the Binance Smart Chain and it is used for utility in the Persystic ecosystem. Its primary uses include sending and receiving cryptocurrency transactions between users, trading with users for other cryptocurrencies and fiat currencies, as part of the rewards mechanism for incentivizing content creators, and purchasing content licenses. 

In total, 3 billion Persystic Token (PSYS) will be minted.

Token distribution model:

  • Founders: 20%
  • Early Contributors: 10%
  • Marketing Promotion: 5%
  • Advisors and Team: 5%
  • Liquidity and staking rewards: 60%

Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.