The Hot or Not project on Internet Computer Protocol is at the forefront of a significant shift in social media, blending cutting-edge technology with a community-first approach. This decentralized platform, echoing the functionalities of popular short-form video apps like TikTok, has taken a leap into the Web3 arena, presenting a unique model that intertwines prediction markets with the dynamism of social media.
At its core, Hot or Not is more than just a platform for sharing videos. It’s a vibrant ecosystem where users are not merely passive viewers but active participants in the content’s lifecycle. They engage with videos by staking tokens and voting on whether these will trend as ‘Hot’ or flop as ‘Not’. This gamification of content viewing is a fresh take on user engagement, rewarding participants with tangible incentives for their interaction and speculation.
Recently experiencing a surge in popularity, especially in Indonesia, the platform rapidly onboarded over 200,000 users. This influx highlighted the need for infrastructure expansion, prompting a temporary pause in new user onboarding. The focus now is not just on accommodating this growth but also on integrating tokens available on Sonic with mainstream exchanges to enhance user access and market volume.
The Hot or Not DAO (Decentralized Autonomous Organization) is working on blending cutting-edge technology with a community-first approach. At the center of this expansion is the platform’s technological pivot to RUST, a language chosen for its superior performance and efficiency over traditional JavaScript-based interfaces. This transition, a substantial effort involving the expansion of the development team with skilled RUST professionals, reflects a deep commitment to enhancing user experience and platform robustness.
Accompanying this technological shift is the implementation of a multi-subnet architecture, essential for scaling the platform to potentially accommodate millions of users. This design leverages the Internet Computer Protocol’s (ICP) capabilities, ensuring scalability, security, and efficiency.
The project’s journey began following its successful SNS Decentralization Sale in July 2023, where it distributed over 330 million tokens to initial investors. This step marked the beginning of a journey to reimagine social media platform governance and operations, extending beyond mere technological advancements.
The establishment of a Non-Profit Foundation in Switzerland is a key part of ensuring legal compliance and operational integrity across geographies. This move, coupled with the recent treasury proposals for withdrawing ICP funds, demonstrates strategic financial planning aimed at legal compliance, setting up the Foundation, and creating an emergency treasury fund.
Hot or Not DAO emphasizes community involvement in its evolution. By inviting every member of the HotorNot community to participate in decision-making processes, the platform is fostering a truly decentralized and democratic ecosystem. This approach is pivotal in shaping the platform’s future and reflects the project’s dedication to community engagement.
The Hot or Not DAO is not merely constructing a social media platform; it is crafting a new narrative in the digital space, characterized by innovation, community governance, and user empowerment. As it evolves, it promises to be a beacon of change in the decentralized social media landscape, setting a new standard for how technology and community can come together to create a more inclusive and participatory online experience.
X- https://twitter.com/
W-https://hotornot.wtf/
To vote on proposals, members can go to
https://github.com/go-
