APT-Reels-fi is a platform on EDU Chain designed for avid reel viewers, offering them the opportunity to place bets on the engagement of reels. If the engagement of a reel increases within a specified time frame, users can earn rewards based on their predictions.
Track Eligibility
- Infrastructure: Reels-Fi leverages blockchain technology, providing a decentralized platform for content monetization.
- DeFi: Users can invest in reels, earning returns based on content engagement, akin to decentralized finance.
- Earn: Users can earn NFTs as rewards for their successful predictions on reel engagement.
- Learn: Educational content creators can monetize their instructional reels, encouraging learning through rewards.
- EduFi: The platform promotes educational content creation, aligning with the goals of EduFi.
- Misc: Reels-Fi provides a broad range of monetization opportunities, making it eligible for various other tracks.
Key Features
Here are the Reels-Fi features in point form:
- Monetize Your Existing Reels: Turn your current reels into revenue-generating content.
- Upload Custom Reels: Share and monetize your own custom-created reels.
- Invest in Favorite Creators' Reels: Place an investment amount on your favorite content creators' reels for a specific tenure.
- Withdraw Rewards: Redeem your earnings once the investment tenure is complete.
- Earn Reels-Fi Tokens: Gain Reels-Fi tokens through a "Refer and Earn" program.
Technical Architecture
TechStack
- Next.js
- Typescript
- Tailwind CSS
- Move Language
- Solidity
- Petra Wallet SDK
Challenges and Solution
- Inadequate Rewards for User Engagement
- Problem: Despite contributing valuable content and engagement, users receive little to no tangible rewards for their participation on most social media platforms.
- Barrier to Monetization for Small Creators
- Many small creators struggle to monetize their content effectively due to high entry barriers and the dominance of established influencers.
- Time and Effort Not Valued
- Users spend significant time and effort creating and engaging with content but often feel that their contributions are undervalued.
Bounty Tracks Applied for and Deployed Contracts Link:
- 1. Polygon Amoy Deployment:
- 2. Aptos Social Track:
- 3. EDU Chain:
- 4. Wan Chain:
- 5. Core Dao Social Track:
Contract Functionality:
| Function Name | Description | Parameters | Access Control |
|---|---|---|---|
createPost(bool _wantToMonetizeThisPost) |
Allows users to create a new post. Users can choose to monetize the post by setting the _wantToMonetizeThisPost parameter. Ensures users meet minimum requirements like paying creation fees before creating the post. |
_wantToMonetizeThisPost: bool - Whether the post should be monetized. |
Public |
depositFunds(uint256 _amount, uint256 _postId) |
Enables users to deposit funds into a specific post's monetization pool. The function updates the post's total amount and records deposit information such as locking duration. | _amount: uint256 - Amount to deposit._postId: uint256 - ID of the post to deposit into. |
Public |
sellFunds(uint256 _postId, uint256 _depositID, uint256 _amount, uint256 _likes, uint256 _views, uint256 _shares, uint256 _followers) |
Allows users to sell their investment in a post and retrieve funds. The function calculates rewards based on engagement metrics and transfers corresponding funds to the user's wallet. | _postId: uint256 - ID of the post._depositID: uint256 - ID of the deposit._amount: uint256 - Amount to sell._likes: uint256 - Number of likes._views: uint256 - Number of views._shares: uint256 - Number of shares._followers: uint256 - Number of followers. |
Public |
_calculateEngagementRate(uint256 likes, uint256 shares, uint256 views, uint256 followers) |
Calculates the engagement rate of a post based on various metrics, crucial for revenue calculation and user rewards. | likes: uint256 - Number of likes.shares: uint256 - Number of shares.views: uint256 - Number of views.followers: uint256 - Number of followers. |
Internal |
_updateEngagement(uint256 fixedExpenses, uint256 newLikes, uint256 newShares, uint256 newViews, uint256 newFollowers) |
Updates engagement metrics and revenue generated by a post, considering fixed expenses and new engagement data. | fixedExpenses: uint256 - Fixed expenses like creation fees.newLikes: uint256 - New likes.newShares: uint256 - New shares.newViews: uint256 - New views.newFollowers: uint256 - New followers. |
Internal |
_calculateRevenue(uint256 likes, uint256 shares, uint256 views, uint256 followers) |
Calculates the revenue generated by a post based on engagement metrics, influencing user rewards and monetization distribution. | likes: uint256 - Number of likes.shares: uint256 - Number of shares.views: uint256 - Number of views.followers: uint256 - Number of followers. |
Internal |
getUserDeposits(address _user) |
Retrieves information about a user's deposits, returning an array of Deposit structs with details such as deposited amount, locking duration, and post ID. | _user: address - Address of the user whose deposits are being queried. |
Public |
Platform UI
Test the Platform
Potential Platform Expansion and Growth
- Multi-chain Support: Expanding to support additional blockchains to attract a wider user base.
- NFT Integration: Offering creators the ability to mint their reels as NFTs and sell them on the platform.
- Enhanced Analytics: Providing creators with detailed insights into their content performance and audience engagement.
- Collaboration Tools: Introducing features that allow creators to collaborate with other users, share profits, and co-create content.
- Community Voting: Implementing a voting system where the community can influence platform developments and feature releases.