Please check out latest news, expert comments and industry insights from Coinspeaker's contributors.
Social X is a social experiment leveraging cryptocurrency elements to create a self-sustaining, constantly growing community, ecosystem, and reward structure.
While most tokens offer airdrops and giveaways, Social X has stepped up its crypto game by offering $1K – $1 million to participants who complete tasks.
Many people consider cryptocurrencies to be a social experiment of sorts. Social X takes the concept one step further with a few surprising twists and turns.
The Social X Challenge Prize Pool Giveaway
Anyone can participate in the challenges created, submitted, and voted on by Social X token holders, depending on their tiers. Challenges remain active until completed, and no new challenge is voted in unless the previous one is completed.
A challenge must be submitted in video format. Once completed, the video can be posted to your Instagram, Tik Tok, or Twitter page, and the upload link needs to be submitted via Social X.io.
All submissions must include the participant stating: “Social X Paid Me!”, use Hashtag #SOSX and Social X.io in the caption.
Submissions are reviewed by Tier 1 community token holders, including one administrator. If there are three votes in your favor, you are deemed the winner. Submissions are reviewed on a first-come, first-serve principle.
Winners can collect prizes directly from their wallets. The prize money represents 100% of the 10% collected on all buy orders from the previous day’s traded volume. Minimum daily prizes start at $1,000 every 24 hours.
The Social X Social Experiment
The outline of Social X is rather enticing. Anyone can join the social experiment for 30 days and receive up to $1 million in compensation. Offers like these often sound too good to be true, yet Social X is much more than just this fancy tagline. The social experiment by this project is genuine and will award compensation as long as users are willing to participate.
While the outcome of the social experiment is not guaranteed, users will receive Social X tokens every day they participate, without any strings attached. However, users will need to complete two small daily tasks in exchange for these tokens. Those tasks need to be completed for thirty days straight.
Thanks to the native social-driven tokenomics structure of Social X, the project benefits from consistent growth, and the token has a consistent supply at an exponential rate. More importantly, the token remains a low-risk investment protecting the best interests of all holders.
Social Mining with a Gamified Aspect
The tasks users need to complete as part of the social experiment are straightforward. First, users need to share a daily assignment on their social media – Twitter, Instagram – every 24 hours. Additionally, they have to try and recruit one new user every day.
All it takes is showing the Social X social experiment to one person a day to help the project grow over time. One user can be the common denominator between up to 536.870,912 other individuals who are part of the social network. Social X members can play “mind games” of sorts by exposing people to the social experiment through Twitter and Instagram every day.
Moreover, their commitment to this experiment can prove beneficial to the Social X token ROI. If successful, the return on investment can be as high as a 53,360x ROI, but even with a high failure rate of convincing people, a return of over 2,600% remains plausible within 30 days.
Dynamic Price Formula Explained
Rewarding free tokens to users is usually detrimental to the long-term success of a project. Social X counters that aspect through its Dynamic Price Formula, ensuring steady growth in value and constant redistribution of selling fees into liquidity.
For instance, every time a user sells their token, they will pay a 20% transaction fee. That fee is split between the liquidity pool (10%), rewarding holders (5%) and the remainder goes to the reward pool The social team is confident the price of the token cannot bottom out to zero.
The 20% sales tax disincentives whales from flipping the token for a quick profit. In addition, $SOSX holders receive reflections by simply holding on to their tokens, creating a psychological incentive to keep collecting rewards.
A Simple Structure to Earn Tokens
Participating in the Social X social experiment consists of three simple steps:
- Share the given assignment on social media every 24 hours
- Attempt to recruit one person to become part of Social X every day
- Log your progress and collect free $SOSX tokens
As there are no requirements to install any specific software or have technical expertise, the Social X social experiment is accessible by anyone who wants to use their social presence to be part of a more significant project.
An Example of a Social X Task and Mind Games
The Social X team creates a gamified experience to the social media tasks users can complete every day. One interesting example is Game One, which effectively informed participants that they were automatically disqualified from the social experiment if they sold tokens during the price retracement a few days ago.
As users never know what to expect from these tasks – or games – every day, anything can happen as part of the Social X social experiment. Negative actions, whether selling tokens or issuing negative comments for whichever reason, can and will disqualify participants. A fine example of the mind games being played, but they also serve as a tool to incentivize long-term holding and maintaining etiquette when talking about the project.
The $SOSX Booster Shot
In times where booster shots make media headlines every day, Social X uses a similar method to reward long-term users. The $SOSX booster shot incentives users to stake their tokens and receive additional rewards. It is a fine example of how the project will keep rewarding users loyal to the project.
Giving users an option to receive their tokens every day and staking them to earn extra rewards is another example of a robust social experiment. When one is presented with an option to use their free tokens to unlock extra money, there is little reason not to explore this opportunity.
Social X is a social experiment leveraging cryptocurrency elements to create a self-sustaining, constantly growing community, ecosystem, and reward structure. Playing mind games and “punishing” those who misbehave is intriguing, especially as users never know what to expect task-wise the next day.
All of these facets are crucial cogs in the machine that continuously creates wealth for those who stick with Social X in the long term.