Social is a cryptocurrency used within Nexus, a secure and private decentralized social network with integrated marketplace and ad platform.
Nexus is a social network built on modern technologies that also integrates popular features of e-commerce and crowdfunding. The network primarily concentrates on privacy, control of settings, security and listening to the voice of the community. The Nexus platform hopes to integrate a full social interface that will be accommodated by a functional marketplace and ad platform that utilizes it's native coin, Social. Nexus is an already existing and established product on the iOS App Store, Google Play Store and the web.
Nexus Debit Card
Connect your Nexus account wallet to your Nexus debit card to spend your Social coins as fiat currency anywhere in the world. Fees will be minimal and as the card uses Visa infrastructure you can use it almost anywhere in the world. Social will use a technique called JITF (Just in Time Funding). Here's a breakdown on how an entire transaction will work using the Nexus debit card: 1. User is issued either a physical or virtual Nexus debit card that is linked to their account wallet 2. Card contains $0 at all times 3. User swipes card to pay for a purchase 4. Transaction is sent to our server 5. Server checks which fiat currency is requested (USD, AUD, EUR) 6. Nexus checks if user account wallet contains enough Social (SCL) to make the purchase 7. SCL is then sold for requested fiat 8. Fiat is moved to the debit card 9. Transaction is approved 10. Card balance is back to $0
Your Nexus account wallet will be able to hold and store any Ethereum ERC20 standard token. ShapeShift.io integration will allow you to convert between tokens seamlessly straight from your Nexus account. Convert Socials between ShapeShift supported ERC20 standard tokens or buy Socials directly with other ERC20 tokens. The Nexus account wallet is planned for launch early 2018.
Integrated Tor & VPN
By integrating the Tor API to our mobile applications, Social team hope to keep Nexus a secure and private social network. Tor functionality will be opt-in and only used by the account if requested. Social also have plans to use a built-in VPN within both mobile apps that can be paired with Tor to offer extreme browsing privacy while using Nexus.
No misuse of the communities data or violation of users privacy. All plans of development and future enhancements will first go through the community. Nexus also plans to open source all projects by 2018. Think of Nexus as the first community driven social network where the users own their data, not the organization. Imagine a full decentralized social network where all data and multimedia is stored on the blockchain instead of centralized servers.
Compliant and Registered
All funds raised will go straight into furthering the development and security of Nexus. 65% of all funds raised will go directly into development and expanding the team behind Nexus. 10% of funds will then go towards legals to make sure Nexus is compliant in all countries. 5% will go into technology improvements such as upgrading servers, purchasing EV SSL certificates and much more. Another 10% will go towards marketing Nexus to gain awareness about the platform and gaining more users. The last 10% will be distributed to one or more private security specialist firms to make sure Nexus is free of any bugs and exploits.
95% of all coins are available for purchase during the ICO. A maximum of 5% of the total supply of coins will be given to promote the product via multiple forms of digital marketing and development. No coins are offered for bounties as all bounty payouts are in BTC. The Nexus team will be holding zero coins to ensure that a large majority of the tokens in circulation have been acquired by real funds to provide a solid market capital foundation. This will highly reduce the probability of a day one exchange dump that happens to most new tokens that hit the market.
Integrated Ad Platform
Nexus plans to integrate a fully functional and semi automatic ad platform. The ad platform will allow users to create ads that are displayed within the news feed. All ad spaces will cost an amount in Socials that is yet to be determined. Charges will be per impression and per click and will automatically deduct the amount in Social from the accounts web wallet. Each ad that goes through the platform will be manually approved by Nexus to ensure quality.
Instead of allocating X amount of SCL to the team during the ICO period, we will be launching a buy-back program on the exchange. This way, SCL will be purchased with BTC instead of being allocated free of charge to team members. A total of 5% of all SCL in circulation will be purchased back during the first 24 hours to help SCL enter a bullish trend.