Author: William Peaster, Bankless Author; Translation: Jinse Finance xiaozou
Zora is an on-chain social network where every piece of content published by users is converted into a tradable token.
This focus on content sets Zora apart in the current token issuance track.
Additionally, the Zora mobile app (available on Apple and Google stores) has an Instagram-like interface design, making it easy for both ordinary users and crypto enthusiasts to get started.
It's worth noting that the project has recently ridden two tailwinds:
Base app (formerly Coinbase Wallet) integrated Zora technology, and now every content published through its Farcaster client generates a token;
The creator token feature is online, with all tokenized content automatically paired with your tokenized profile, and all profiles linked to the ZORA token.
These positive developments have driven Zora to repeatedly hit new highs in content publishing volume, active accounts, transaction volume, and fees.
Moreover, these factors have brought significant attention and value accumulation to the ZORA token, which has surged 800% in the past month.
This momentum has sparked extensive discussions about Zora's flywheel effect and golden balance.
It has also generated controversies: Are content tokens all shit coins? Are there better implementation methods? Are critics over-interpreting?
We still need to wait and see if this flywheel can continue to accelerate and what final situation will emerge.
But clearly, Zora is currently in full swing, with more and more people flooding into the platform, so if you haven't explored creator tokens yet, now is the time to research.
Simply put, when you log into Zora now, you can activate a profile token with your username. Here are the specific rules:
The token supply is hard-capped at 1 billion. 50% will be gradually distributed to creators over five years, and the other 50% will be immediately open for trading through a liquidity pool.
Every time you publish a new post, a new trading pair is created between the post token and your creator token. Therefore, user interactions and content spread will redirect liquidity back to your profile token.
Both post and profile token trades incur a 1% protocol fee. This fee will be paid in ZORA to the post creator or superior profile.
The design goal is to achieve reflective growth of creator earnings. In other words, more posts will bring more trading pairs and more trading touchpoints, which means higher potential demand for your creator token.
So, supporters who buy your content are not just your patrons but are essentially betting on your flywheel effect.
If you want to try creating your own creator token, Zora offers a simple entry method. New users will automatically receive a creator token when registering, and existing Zora users only need to click the "Activate" button on the Profile page.
To find tradable new posts and creator tokens, you can browse Zora's "Explore" page or use the notification feature to discover new profiles.
You can also check out external applications that help with analysis and trading, such as Zora Terminal, Bankr, Hype, and ZoraRadar.
