The underlying infrastructure of the WEB3 social track: Universal Basic Asset (UBA)
According to the digital 2022 report of we are social & Hootsuite, as of January 2022, there will be 5.31 billion mobile users worldwide, 4.95 billion Internet users, and 4.62 billion active social media users. Active users of social media accounted for 58.4% of the global population, with an annual growth rate of 10.1%. The average daily time spent by 4.62 billion active users is 2h27min, and an average of 7.5 social applications are opened every month. Among the top 20 most viewed websites by Internet users in the world, social networking sites account for more than 1/3. On average, social media accounts for 1/3 of Internet users’ online time.
Universal Basic Asset aims to introduce the concept of UBI through research and analysis of users and the relationship between them (UBI proposes to unconditionally distribute a certain amount of funds to everyone as their basic income in order to solve the growing inequality and unemployment caused by automation), through The fair distribution of token incentives allows users to transfer the relationship that originally existed off-chain to the chain, invite other users to participate and establish their own on-chain relationship system.
Universal Basic Asset captures the user’s on-chain and off-chain data, combines the analysis tools of the on-chain address, and cooperates with the UBA network rating and analysis mechanism, PageRank and other algorithms to accurately analyze users and establish a UBA network, which is open to the WEB 3.0 developer use.
Universal Basic Asset uses zero-knowledge proof to build a user data privacy layer. Through this privacy layer, users can still prove their identity and the validity of their own identity tags without exposing their data to the chain, thus building a social-fi-based bottom layer in WEB 3.0 with Privacy-preserving SocialFi network and Decentralized Identity (DID) infrastructure.
Through the information, we can find that UBA’s products have several highlights:
- Mine: User participation is simple, you can mine online and quickly acquire users. And set the user level, NFT, team and other playing methods to mobilize the enthusiasm and activity of users.
- UBA relationship graph interface: Through the on-chain data and off-chain data of the user’s wallet address (the product side captures IP, nationality, model, email, social account, etc.), combined with the on-chain address analysis tool and UBA analysis mechanism,and makingaccurate portraits of UBA users and guide them accurately.
- Zero-knowledge proof: Universal Basic Asset uses zero-knowledge proof to build a user data privacy layer. Through this privacy layer, users can still prove their identity and the validity of their identity tags without exposing data to the chain, thus building WEB 3.0 The SocialFi network with privacy protection and Decentralized Identity (DID) infrastructure based on the underlying SocialFi.
- Ecological cooperation system: UBA Network will provide APIs to all WEB 3.0 developers, including user level, label and other information, so as to achieve rapid acquisition of users and accurate import of traffic.
Based on the UBA user relationship network, UBA will support developers to create high-quality ecological projects, including but not limited to chat software, forums, social platforms and other applications.
SocialFi developers can call on the relationship and influence of UBA’s massive users through the UBA network, skip the cold start link, and focus on the development itself. GameFi developers can use the UBA network and user labeling functions to carry out product activities such as customized tasks, exclusive mining pools, joint NFTs, airdrops, etc., so as to accurately import traffic around the target user group.
The customized promotion plan includes joint activities, joint NFT, exclusive mining pool, product push, etc. It is believed that many project parties are willing to cooperate with UBA, which has a large user base.
In the UBA ecology, UBA Ticket will be used to exchange Ticket Quota and UBA Token, NFT upgrade and synthesis, pledge UBA Ticket to improve user level and team level coefficient, etc. In the future, it will also be used to exchange Token and NFT of the UBA ecological project.
UBA Ticket is a currency used to acquire customers on the C side, and has a production reduction mechanism. By mining online in UBA products every day, users can get a certain UBA Ticket according to the online time. Inviting friends to join the UBA ecology can get more mining quota Ticket Quota, and at the same time can increase the mining coefficient and get a team award.
UBA Token is the governance currency of the project. A currency for B-end developers/partners, similar to LINK Token for Chainlink oracles. In view of the fact that UBA Ticket has increased the community flow of the project, and has accurately portrayed UBA users through the on-chain data and off-chain data of user wallet addresses (capturing IP, nationality, model, email, social account, etc. on the product side) Portraits are combined into a user database through analysis, so it can be more attractive to external partners.
Based on the UBA user relationship network, UBA will also support developers to create high-quality ecological projects, including but not limited to chat software, forums, social platforms and other applications, to establish a complete ecosystem.
For developers/project parties who want to use these C-end traffic, the project parties can adopt the form of cooperation to guide each other and provide additional benefits to UBA users. For key data, the partner must pay a certain amount of UBA Token before calling and accessing UBA user data. The output mechanism of UBA Token is similar to Chainlink network or Ren Network but there are some differences. Some users who already have a high status in the UBA network (more invited users, more active, more tags, more influence), become UBA network nodes after pledging a certain amount of UBA Token, and can also get additional UBA Token rewards,and they will also continue to promote the development of the UBA community.