About
Our philosophy and vision
We believe in a world where community development can go hand in hand with cryptocurrencies. A world where people from all different walks of life can gather and build a common story together. We believe that building with community first values will lead to a far more valuable result for everyone. Through that belief we are creating a creative oasis where new ideas and true innovation thrive.
Social token
A social token combines an advanced cryptocurrency coin with an advanced NFT to create something that is more than the sum of its parts. When you put these together you get a coin that rewards its holders, a community that continuously expands, a new way for artists to get paid for their work, and an "Uber for NFTs" system that makes a brand new economy available in the crypto space. Lets dive deeper into each of those things:
A coin that rewards holders
The LTST coin allows you to stake it to earn a yield. You can pick any number of days to stake. The longer you stake the more interest you will get every day from your stake. At the end of your stake your coin and your interest will be returned to you automatically.
You can also receive extra rewards by adding your coins to a uniswap liquidity pool and staking those pool tokens. LP tokens don't need a commitment of a specific number of days, and users are paid out at the current APR whenever they change the number of tokens staked (or when they request a payout).
A small number of people each day can even receive a reward by mining. Mining is used to return any finished stakes to their owners in a far more efficient batch transaction. In exchange for this the miner is given a small reward.
A community that continuously expands
New NFTs in the Social NFT (SNFT) set can be minted in exchange for a fixed amount of the LTST coin. Newly minted SNFTs are always tier 1, but they can be forged into higher tier SNFTs at any time. Higher tier SNFTs are more detailed. One SNFT can be sacrificed along with a small amount of the LTST coin to upgrade another SNFT of the same tier to the next tier up.
When any SNFT is upgraded to tier 2 it is assigned to a character. The character that is assigned is always the one that has the fewest NFTs in existence. This will naturally make the older and more popular characters more valuable since they can only be obtained by buying them from an exchange.
The set of SNFTs is continuously expanding using art that the community creates. This means that the set and the community will grow stronger over time, in contrast to many pfp NFT sets which are usually fixed after their initial minting event and tend to have a declining community once that is over.
Uber for NFTs
As an artist in the modern world it can be a lot harder to find a market for your art than it was to create it in the first place. This is a big problem for artists since many people who are the most talented artists are not also the most talented self-promoters. 20 years ago taxi drivers had to perform a lot of unnecessary tasks, like waiting in line, in order to get to the thing that they were actually paid for (which was giving rides). Today artists who want to work with NFTs have to do a lot of self-promotion and technical implementation in order to make money from the thing they are actually paid for (making art).
LTST has a council which maintains quality standards and the overall story of each character. Council members issue bounties for specific types of art they would like to see, and artists fulfill those bounties. The artist gets 75% of the bounty, 15% goes to the council member, and 10% gets assigned by the council member as a tip to any third party who contributed (or back to the artist, but not to the council member). In this way the set pays artists to add art to it, and the whole system is far more efficient, allowing artists to participate in a decentralized system and still focus most of their attention on their art.
Long Tail
Now that you know what a social token is, Long Tail Social Token is a social token that is themed around human/animal hybrids. Our society has a rich history of this type of art. When you think of human/animal hybrids you might think of Disney characters, newspaper comics, children's stories, popular NFT sets, or more recently furries. Long Tail has a rich backstory in which everyone is transformed into their fursona when they come of age.
In LTST the tiers are as follows:
- Tier 1 is auto-generated art.
- Tier 2 is profile picture images featuring different characters
- Tier 3 is hero images. These are full scenes featuring the character.
- Tier 4 is comics. They tell a story around the character.
There may be more tiers in the future.
