Group overview
Definition:
Groups play a pivotal role in human social dynamics, and in the emerging landscape of Web3, they are organically formed around the digital assets individuals possess. When individuals choose to acquire a specific digital asset, they intentionally align themselves with a community sharing common values, interests, and beliefs.
GroupFi caters to the social needs of these naturally forming groups. As the owners' identities are public on the crypto network, any user can post targeted messages to the "Group", which by our definition, is a crypto network that is tagged with the token/NFT collection ID. One NFT collecation ID can only generate one group, whereas a token ID can generate different levels of groups based on the holding percentage ( group threshold).
Group Types:
In GroupFi, there are two types of groups: public and private.
Groups with over 100 members are always public, while groups with fewer than 100 members can be voted on by group members to be public or private.
In a private group, messages are encrypted and only members can receive them.
In a public group, messages are in clear text and open to the public.
Additionally, for token-based groups, we support five levels based on token-holding thresholds:
Crab: >0.00001%
Fish: >0.0001%
Seal: >0.001%
Shark: >0.01%
Whale: >0.1%
Governance Structure:
The governance structure of the group is self-organized:
There are no initial administrators.
Group members can vote to determine the status of the group (public or private).
A reputation system is formed within the group through mutual likes and mutes (a user with a very low reputation will lose the right to speak).
In the future, voting to delegate a representative will also be supported.
Group Registration:
Token/NFT project owners can register their groups to make them available. Once a group is registered, any dApp can add this group, and messages are shared across different dApps. For more information, please check the Group registration section.
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