For Empow, the process of earning is streamlined as every single activity you do to contribute to the decentralized social platform will all be incentivized. More importantly, you can see your money poured in your wallet every day. It’s exciting and so much different from centralized social networks!
There are various ways to make money on Empow social network. In brief, you can do 3 things:
- Social mining: be a creator creating content on Empow platform and earn EM coin
- Social staking: be a contributor to the blockchain network running beneath Empow and multiply up EM you have earned: Stake your EM right on the platform and earn up to 30% APR at the present
- In-app small tasks: Invite your friends into the Empow app, post your first content, watch the first video, play the lucky game, join Empow community, etc to earn free EM
EM can be converted to public cryptos like BTC, ETH, USDT in crypto exchanges, and from there, you can get cash as the end of the process.
Social mining: Be a content creator
You are liked — You get EM
Content on a social network platform is the most important thing. Comprehending it, we design the reward mechanism for content creators, namely ‘social mining’, as any content creators can be incentivized from their work. If you write something on Empow that is interesting and is applauded by other members of the platform, you will always be rewarded. The amount of rewards you receive is determined by the quality of your content and the reputation of your content supporters.
Considering the case you create visual content on Empow (images, memes, short videos), if your content attracts 2 Empow users A and B, the rewards you receive are from the 2 likes A and B hit on your post. The situation is similar when you give comments on posts on Empow. If your comments are interesting and attract A and B to hit like on, you can also earn rewards. A comment is no different than a post in rewarding creators.
How large the rewards that A and B bring to you depends on the reputation of the 2 on the Empow social platform. For example, A is considered more reputed than B, then each like A gives out can generate 2 EM and each B gives out can generate 1 EM. The numbers are just examples, the mathematical formula behind is a bit complicated to be presented here. The reputation indexes of Empow users are actually based on many factors such as how many EM they stake, how active they are on the platform, how large their EM transferring volumes are, etc,.
Get EM every day
To get EM poured in your wallet every day, you need to do daily redeem the likes you receive. Each Empow user can only redeem likes 1 time per day, which means if he/she redeemed likes 1 time today, he/she need to wait until 00:00 GMT+0 on the next day to redeem the total likes he/she has got from the time or the nearest redeeming to the current time.
So, how?
To post your content on the Empow app, just click on the plus icon right in the middle of the bottom.
Here you have many options to post your own content, such as film/capture your own videos/photos, upload visuals from your phone, or simply take them from the internet. You can add hashtags to gain more attention from other users. Don’t forget to add the caption of your content.
And, that’s it. Your post is good to go. Now, simply tab Post at the top right corner.
Your content is live now. Now just wait for others to see your visuals, hit like and you can earn EM back.
To comment on others’ posts, click on the ‘conversation’ mark at the center of the images/videos. Now you see many comments that have been there for a while and get users EM (The amount of earned EM is on the right side). Your comments can be in either texts, visuals, or even both. Go comment and you can be the next commenter earning EM!
There is no difference when you do social mining on Empow web. The interface is clearer because there are more spaces for you to see everything happening on the platform. You can also always see your EM balance on the right side of the screen.
Social staking: Be a blockchain supporter
Multiply your earned EM with 30% APRThe Proof of Social consensus algorithm is inspired by the scalable Proof of Stake, so staking is an irreplaceable function in the operation of the Empow blockchain. Empow blockchain is tailor-made for Empow social network, so the staking is an on-platform activity that can be beneficial for all Empow platform users.
Empow users can stake EM right on Empow social network platform to get vote power (used to vote for Empow Nodes and Empow Producers) and earn interests in EM coin. The rewards users receive are proportional to the amount of EM they stake. Currently, the staking interest rate is up to 30% APR.
There is no minimum required amount of EM to join the staking, you can stake any EM you want and the APR will be unchanged as stated. When users unstake their coins, they will need to wait 2 days for their funds to be unfrozen. After earning EM from social mining, social staking is a good way to multiply your EM.
So, how?
In the app version, navigate to the gear icon at the bottom right corner to open Setting and select Share. Here you can stake your EM. Remember that you can only stake with the amount less than or equal your EM account balance.
For the web version, please find Verifier category on the top bar and click Stake Now, you will be directed to emscan.io, the explorer site of Empow blockchain, to stake EM. On Emscan, you can see vividly the rewards you are earning from social staking.
In-app small tasks
Empow has built up a gamification system with many small tasks to get users to keep using the platform. Now, you can join Empow, head to ‘Airdrop’ play around with the games and earn free EM. Notice that these small tasks are currently applied only for app users. We will develop the task system on Empow web users in the near future.
Invite your friends into the app: Invite 1 one your friends into the app and you can get 50 free EM
Be the sponsorship: Be the sponsorship for Empow and earn 50 free EM
Post your first content: Post your first content and earn 10 free EM
Watch the first videos: Watch the first 5 videos in Empow app to get 5 free EM
Join Empow community: Join our telegram group to discuss with other users here and get 10 free EM
Lucky draw game: You can earn up to 200 free USDT by playing lucky draw game.
To do these small tasks, navigate to Setting in the Empow app and choose Airdrop. You will see details of all the small tasks here.
Convert your EM into real cash
EM is currently tradable on 2 exchanges:
- The Incognito pDEX: You can trade EM to PRV back & forth in privacy and totally permissionless.
The price of EM now is 1 PRV = 291 EMPOW or 1 EMPOW = $0.003. EMPOW is the token on Incognito chain and trustedly back 1:1 with EM coin on Empow blockchain by Empow team. The gateway for converting EM <> EMPOW will be launched shortly in the next few days.
- The p2pb2b exchange: Soon in June
You can transfer your EM to these 2 exchanges and exchange them into public cryptos such as BTC, ETH, or USDT. From there, you can easily get cash by using OTC services or fiat-to-crypto gates.
Happy making money in the lockdown time with Empow!
Here is where you can find out more information about Empow:
Website: https://empow.io/Empow blockchain explorer: http://emscan.io/
Twitter: https://twitter.com/EmpowNetwork
Telegram: https://t.me/empowofficial
Facebook: https://www.facebook.com/Empowofficial/