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SoFi: when DeFi meets social networking

Social finance (SoFi) is our view of where blockchain technology can revolutionize payments for social networks. At Subsocial, we are building a SoFi toolkit of decentralized financial primitives that are optimized for social networking.

Not only is it important for creators to reap the benefit of their work, it is also important that the community be able to freely decide who to promote and reward. That much should be clear already from this paper. However, SoFi takes those core principles and then sets about enabling developer creativity to add advanced custom features.

With smart contracts enabled on Subsocial, the community is able to create their own composable SoFi primitives, much like we can see in DeFi space. The Subsocial team started building primitives during Hackusama such as tips and paid subscriptions. These will be available at launch. In the future we hope to add pay-per-view and NFTs in the runtime.