The WeYouMe Mobile Application is a simple micro-blogging platform, that packs a suite of advanced cryptocurrency features. It enables users to create posts to connect with their audience, message their friends, and earn cryptocurrency rewards for sharing value.
The WeYouMe blockchain protocol enables seamless and trustless interaction between users and businesses. It uses the graphene blockchain model to implement objects that are created and modified in transactions to store consensus state information. It is an economic protocol that uses cryptocurrency to incentivise positive actions that contribute to its development. The WeYouMe blockchain protocol is open source and neutral, censorship resistant, and tamper-evident. It stores the state information of all the accounts, posts, and assets that are created on it. The WeYouMe team will launch the WeYouMe mainnet blockchain, and will create an ecosystem of cross platform compatible and open source applications that operate on the protocol.
Social media is flawed.
Users don’t earn for their content, and they don’t have enough control over their data.
Twitter and Steem users have no way of improving the quality of the replies they receive.
Steem innovated the content reward mechanism, but did not foresee the gaps in their economic model.
Build a better platform, with blockchain technology.
Reward content creators with cryptocurrency, distributed fairly to the network.
Creators can charge a small refundable micropayment to comment on their posts and improve reply quality.
Reduce vote buying, generate network revenue to counteract inflation, and launch the network asset fairly.
The WeYouMe blockchain has a long term strategy for implementing a large suite of features over the course of the platform.
Public whitepaper release to consider feedback and improve proposal design.
Website release to explain the WeYouMe proposal in an engaging way and to generate community interest.
Establishment of dedicated core development team, and the release of an open source repository for community input and oversight.
[Angel funding]: Bitshares UIA angel funding campaign, raise funds to build Proof of Concept website, and prototype web interface.
[Private Seed Round] Raise of up to $4.5M USD from private allocations of the WEYOUME asset on Bitshares. Minimum investment of $50,000 USD, maximum of $500,000, with a 10% bonus for all investments greater than $250,000 USD.
[Pioneer Release] Functional WeYouMe blockchain testnet client software, web and mobile application minimum viable products.
[Initial Coin Offering] Conducted with WEYOUME Bitshares UIA, raise funds to launch fully operational public mainnet blockchain, website, and mobile application.
[Silver Release] WeYouMe blockchain mainnet and node software. Exclusive Alpha release of weyoume.io to ICO supporters, and selected new community participants, invitation only for new entrants.
[Gold Release] Open Public beta of all weyoume.io, WeYouMe Desktop Client, and WeYouMe mobile app. Create base of multimedia content to educate new users about site functionality. Reach out to exchanges for listing WYM and MeCoin.
[Platinum Release] High end economic features are added to the Decentralized exchange.
[Diamond Release] Final Polished Mainstream release, Synchronized and marketed release of weyoume.io, WeYouMe desktop GUI node client, and WeYouMe mobile app to a global audience. Establish strong partnerships with existing cryptocurrency development teams for integration into the WeYouMe Wallet and Decentralized exchange, develop partnerships with existing and new businesses to operate on the WeYouMe network. Work with protocol businesses to promote key products and apps to the mainstream.
Code – WYM
Supply – 10,000,000 Fixed
WYM is the cryptoequity of the WeYouMe platform. It represents ownership of the WeYouMe blockchain protocol, and gives holders voting power and a revenue stream.
WYM holders earn ongoing rewards of 20% of all issued MeCoin, when they contribute value to the platform.
WYM voting power scales proportionately with the length of time it is held, starting at zero, and increasing by linearly by 25% per week held, until it reaches its full power.
Code – MEC
Supply – 1,000,000,000 Issued per year
MeCoin is the liquid blockchain cryptocurrency of the WeYouMe platform. 1,000,000,000 units are issued per year, and are issued to network contributors
MeCoin is in consistent demand due to buy and burn mechanisms, funded by network revenue.
MeCoin can be vested as MePower (MEP), which can be withdrawn into MeCoin over 4 weeks. MePower gives voting power for the allocation of network rewards. The amount of voting power conferred to MePower is determined by the exchange rate between WYM and MeCoin.
Code – MeUSD
Supply – Issued against MeCoin Collateral
The MeUSD is the default stable smartcoin of the WeYouMe network. It is pegged by witness feeds to be redeemable for exactly $1.00 USD worth of MeCoin. MeUSD are created by locking at least 200% of the value of the smartcoin in MEC collateral. They are borrowed against the collateral locked in, and the account creates them from this process.
At any time, owners of MeUSD can settle the smartcoins, and receive $1.00 USD worth of MeCoin.
They can then be sold on the DEX, with their outstanding settlement value acting as a debt against the collateral locked in to create them.
WeYouMe blockchain functions that consume MeCoin fees are used to generate revenue for the network. Revenues are earned from several sources:
Account memberships: Paid monthly using membership asset market by burning proceeds of selling membership assets, revenue is shared with WeYouMe premium partners.
Promoted Posts: Boosts the visibility of a post by displaying it in interfaces in-line with content posts. Revenue is shared with Supernodes, and participating interfaces.
Premium content purchases: 1% fee charged from sales of premium content.
Marketplace escrowed purchases: 1% fee charged from value of marketplace transactions, revenue is shared with mediators.
DEX taker orders: 0.1%, maker orders have no fee.
DEX taker lending orders: 5% of interest, maker orders have no fee.
Accounts represent the users of the WeYouMe network, and are used to interact with the blockchain by signing transactions using the private keys of the account. Accounts are used to make posts to the blockchain, hold cryptoassets, and interact with other user’s posts.
Profiles accounts are fully featured and customizable representations of the identities of WeYouMe users. They are used to upload posts and comments, vote for and view posts, hold cryptoassets, create profile pages, create boards, and upload personal information. All private account information is encrypted on the Supernode network. Users should ideally make one profile account each. All posts are added to the user’s Profile Feed with variable visibility. Visibility is controlled by encrypting content on the blockchain, accessed by decrypting with various keys, to control information visibility to specific intended recipients. Posts can be visible to specific sets of people, with increasing exclusivity.
Accounts can link with 4 levels of association.
Following an account shows their posts in your home feed. After being linked as connections, users can send private messages. By upgrading a connection to a friend, users share more sensitive personal information with each other, and users receive a notification for all posts. Finally, by upgrading a friend to a companion, users can automatically like each other’s posts, can create joint wallets, and are able to share location data.
Personas are accounts made to represent entities that are not publicly identifiable individual unique persons. Persona accounts do not require an information link to the account owner. Personas have the same posting and profile features as profile accounts, and can have followers, connections, friends, and companions. They can be used to post without friends seeing posts, or to create a posting identity separate from your own for use on boards, or private transactions.
Entrepreneurs and business owners can create a business account to register their business on the blockchain. Business accounts are able to conduct all their transactions and accounting using WeYouMe, including sending invoices to customers, creating signed transactions of sale on the blockchain to act as an immutable receipt, paying employees on fixed schedules, and raising capital by creating business equity cryptoassets
Business cryptoequities are used to represent ownership of a WeYouMe business, and all accounts that own cryptoassets in a business can vote in all business elections. Cryptoequities are traded on the WeYouMe DEX, and by default issue a distribution of 5% of all revenue earned by the account from product sales, network rewards, tips, premium content sales, and asset trading fees to holders every week.
Accounts that are elected to hold business leadership positions are able to access the business account and conduct executive functions. Cryptoequities are backed by the assets in the wallet accounts of their businesses, which are publicly transparent. Businesses can also source capital by borrowing money from investors using Cryptocredits, which are recorded on the blockchain as debts, and are bought back automatically from the business account’s wallet funds over time, and from sales.
Posts are the main units of content on WeYouMe. Posts to the WeYouMe blockchain link to files stored on the IPFS data storage of the network Supernodes.
Posts can be made public, where their contents are not encrypted, and can be read by all. Public posts include the >All board by default. They are also listed on the user’s profile, and in feeds that include the post creator.
Posts can be made by users privately. These private posts have limited visibility, are made to user’s profile pages, Private posts contain links to encrypted IPFS files, and cannot be viewed by users that do not have the decryption key passed in the connection process. Private posts are typically viewed in feeds by accounts that are connected to the posting account.
Ephemeral posts can be made that store encrypted private content files on a specified small set of Supernodes, which is automatically deleted after 24 hours. These files are not accessible without two decryption keys. One key is held by the intended audience via connection transactions, and the other is requested for each file from the uploader’s nominated Supernodes, which distribute the decryption key for a limited time before deleting it. Content can be uploaded for a 24-hour time period in each account’s daystream post, which earns content rewards in the same way as regular posts. Daystream posts use the same post object, which is edited to include newly added content. Deleted previous content is removed from the post. Daystream posts earn content rewards permanently, and accumulate votes and views over the lifetime of the account.
There are many different types of posts for all content that is stored on using IPFS on the WeYouMe Supernode network. On weyoume.io they are all displayed by default, however boards and third-party applications can customise which posts types to display.
Text posts: Contains up to 300 characters of text. All text is displayed in line with a bubble.
Article posts: Contains a full page of markdown enabled text content, with embedded images, videos, audio, and downloadable files. Article posts can be opened as a large window, or in a new tab as a full scrolling window with comments, and recommended posts alongside it.
Link posts: Contains a link to a webpage, and a description.
Image posts: Contains a single inline image and a description. Can be opened in a new tab as a large image with the description, comments, and recommended posts.
Comments can be made on any type of post, and are voted on exactly like posts themselves. Each comment pays out 20% of its content rewards back to the post or comment it was made to.
All posts can optionally set a price [MeUSD] that must be paid to comment on them, which is paid to its creator.
The creator then has the option of keeping the payment, donating it to a beneficiary address, or refunding it after 24 hours if the post has a net positive score. Boards can also set a posting price, which is paid to the moderation team according to voting support. This can act as a spam filter, and reduce the amount of low quality comments that are made to a post, if desired.
All posts are eligible to receive a distribution from the content reward pool. 20% of all MeCoin created is awarded to content creators and the accounts that interact with content to provide information to the blockchain. By default, 75% of the payout is earned by the author over 30 days, with the remaining 25% being split between curators, viewers, view referrers, and Supernode hosts. The amount of MeCoin that is received as content rewards by posts is added to each account’s “Lifetime content rewards” value. Profiles display the lifetime content rewards that the account has earned, as a measure of overall contribution and reputation.
Curators are rewarded for voting on posts by receiving a curation reward payout according to the amount of voting power they have contributed to the post, and how early they voted for the post.
Moderators are rewarded for their effort in removing posts that violate the board’s rules, and for building a high quality community.
This ensures that moderators are compensated for their time and effort, that there is competition between moderators to earn the support of their communities, and that there is demand to replace moderators that act against their community’s interests, or overzealously censor posts. Posts that are removed from a board do not pay out rewards to the moderators.
The reward payouts from the WeYouMe blockchain for content rewards are split between the following divisions:
Author rewards: (75%) Paid to the author of the post.
Curation rewards: (15%) Paid to the curators of a post, according to stake weight.
Hosting rewards: (4%) Paid to the Supernode file hosts and to the Supernodes selected to count views.
Viewer rewards: (3%) Paid to viewers according to their stake weight.
Moderator Rewards: (3%) Paid to the moderators of the board that the post was listed in.
Weyoume.io, the WeYouMe Desktop client, and the WeYouMe Mobile app will display relevant promoted posts within the application to users that do not have a WeYouMe membership. One in every 10 posts displayed in boards, groups, feeds, tags, and search results pages will be selected from the promotion queue. When recommended posts are displayed beside a post in a tab, the center recommended post is selected from the promotion queue.
Engaging, popular, and entertaining promoted posts have the possibility to earn more content rewards than the cost spent to promote it. Downvoting a post will cause that promoted post to not be shown to that user again, the post is hidden, and a new promoted post will be selected on the next page refresh.
Content on WeYouMe in the form of posts is organized into a variety of blockchain objects for community and individual interaction and browsing. Weyoume.io, the WeYouMe mobile app, and the WeYouMe desktop client will display all forms of content, and will sort it according to the options specified by the user. WeYouMe will offer boards for publicly vote sorted content, a featured page for high quality community curated content, feeds for chronological content from followed accounts, and groups for networked content between a community.
Boards can be created for collecting posts and discussion around a topic or community group. All Accounts can create public boards, which any other accounts can post to. Board content is always publicly visible to all, and all users can post to any board. They are made with any custom name, up to a limit of 50 characters, with no spaces. Board names should use capital case for clarity, but this is not required. Posting rules can be customized by moderators. User accounts can subscribe to boards, and all content posted to the board is added to their subscribed board feed.
When a new board is published, its creator becomes a moderator of the board, and can invite others to become moderators. Moderators can change the settings of the board, such as what should be posted, the background, and the layout. They are tasked with filtering content that breaches the rules of their board.
Posts can also be moved to different boards if they do not belong in the board they were posted to. Posts cannot be permanently deleted from the site, as they are stored on the blockchain. This reduces the ability for moderators to conduct censorship.
Network feeds show selections of content from specific people or communities. Feeds are the main way that users view private posts, that have visibility restricted to specified groups of people, such as connections or friends. Users can view posts from subscribed boards or followed accounts, sorted however they choose.
The user’s Home feed contains posts from all followed accounts, subscribed boards, groups, and events.
Ephemeral posts are also viewed in feeds, and are shown as an album called a daystream. Each users daystream earns content rewards like a regular post which shows all temporary content uploaded by the user in the last day.
Users can create groups for accounts to join and post, which act as private boards for specific groups of people. Group moderators can setup options to determine which accounts can view the group, join the group, and make posts to the group. Moderators can require that accounts must request access to a publicly visible group, or can only be invited to a closed group. Group content is encrypted and stored on Supernodes and the blockchain. It can only be decrypted with the group decryption key.
Users can specify a governance address to act as a provider of moderation and administration services.
For their services, they earn a share in 15% of each subscribing user’s network revenue. They are incentivized to offer services to users to gain subscribers to their governance address, to promote network growth and increase user retention. WeYouMe user accounts cannot be banned, and the WeYouMe executive board, developers or witnesses cannot enforce any content rules on the publicly accessible blockchain. Posts cannot be removed from the blockchain once published, by design.
Only the file uploader can issue a signed deletion transaction on their own content, which directs SuperNodes to delete the encrypted file pieces. It also tags the post as deleted, which filters it from all WeYouMe Applications until it is fully deleted. If Supernodes are found to provide a file that has a deletion order from its uploader, they are dropped by other SuperNodes and are removed from the Supernode reward pool. Users can also post content temporarily, where content is automatically deleted after a specified period of time, by default 24 hours.
On weyoume.io and all WeYouMe supported applications, users can choose to filter, hide the thumbnail, or grey out posts that list any specified tags, are posted to specific boards, are posted by specific users, or have a title containing specific keywords. For posts that are not made with tags that describe their content honestly, tags can be added by users.
To limit the proliferation of potentially undesirable content, users can add reporting tags to posts that they believe fit into certain categories.
A user accepts the moderation tags added by their governance address.
Users can filter posts made by accounts based on MePower balance, membership level, account age, total connection weight, and can filter anonymous posts, persona account posts, and non-verified profile account posts if desired.
Most content filtering requires the user to opt in, giving users the power to decide what they do and don’t want to see. Default network tag settings are applied to all WeYouMe boards and feeds. They can be disabled if the user opts out. Default filters can be deactivated, or changed to different display options. There are hardline tags that are used for content that is considered to be illegal in most countries, and these filters cannot be altered using the weyoume.io, WeYouMe desktop application or mobile application interface.
Hardline content tags cause automatic filtering on the weyoume.io website, and all WeYouMe supported applications. Third party developers are advised to include default hardcoded filtering of these tags, without the ability to disable them. If a user believes that their post has been marked incorrectly with these tags, the post should be reconsidered, or re-uploaded. Users that have high amounts of posts that become filtered with hardline tags will quickly find themselves delisted from most boards. Users will also heavily downvote such posts to prevent their visibility.
Users can access their balances of cryptoassets, and make transactions. Transaction history, MeCoin reward history, and membership assets can be inspected. Users can interact between their balances, settle MeUSD for MeCoin, vest MeCoin into MePower, divest MePower into MeCoin, vest MePower into MeBonds, or transfer any liquid balances to their respective savings accounts.
Each WeYouMe account has light wallet for many major cryptocurrencies. This interface enables transfers between the account’s wallet, and the DEX by purchasing gateway assets. These assets would be able to be redeemed by transferring to the user’s wallet, or an external address at any time.
WeYouMe presents a comprehensive platform for a cryptocurrency based economy. WeYouMe provides strong advancements over Bitcoin as a currency, over Bitshares as a decentralized exchange, and over Steem as a social media platform. By enabling users to earn MeCoin for their work, rather than requiring them to purchase some from an exchange, WeYouMe reduces the barrier to entry to the cryptocurrency world to zero. By combining all necessary elements of a digital economy, such as governance, media distribution, data hosting, marketplace trading, and community formation into a single platform, WeYouMe offers significant benefits to its users, and a compelling case for mainstream viability.