Penelope Lai
AlphaHub (Scroll)
Where hunters connect, track, and earn by sharing (project participated in the Open Research Track in Ethereum Beijing Hackathon 2024)
AlphaHub: A New Era of Social Trading and Community-Driven Insights
In the context of mainstream exchanges, “social trading” is often a top-down experience, where experts lead the way and newcomers simply follow their trades. Platforms like Bitget promote this model by allowing users to “trade immediately without understanding crypto” through copy-trading. While this approach enables newcomers to mirror expert trades effortlessly, it involves sharing a portion of their profits as a fee and potentially exposes them to risks like traders opening positions in both directions. While following trends may help traders make wiser decisions in secondary markets, it limits the ability of Web3 newcomers to explore a broader array of opportunities and understand the ecosystem in ways that suit their own trading and participation styles. It also curtails the growth of Web3 participants, making them dependent on experts rather than empowering them to learn, explore, and do their own research (DYOR).
Moreover, the rise in user activity on decentralized social protocols like Farcaster and Lens Protocol is largely driven by hype around Meme Coins and airdrops. Though these protocols aim to replace Web2 platforms by decentralizing social interactions and offering users ownership over their data and relationships, they currently suffer from a flood of low-quality content. Posts aiming merely for tips and rewards dominate their channels, offering little meaningful information. Coupled with the inconsistent quality of Web3 projects deeply intertwined with Web2 social networks, users often struggle to find reliable, high-quality content or meaningful ways to benefit from their contributions.
For instance, Chinese crypto communities mainly use Twitter to share trading data and project insights. Conversations then spread across various platforms like Telegram and WeChat groups, with some premium “Alpha” groups having access barriers, but often failing to guarantee content quality. This fragmented communication model lacks consistency and verification from on-chain data, making it difficult for users to find trustworthy insights or for creators to earn rewards based on their contributions.
Introducing AlphaHub: Redefining Social Trading with Community and Data-Driven Insights
AlphaHub is a community-driven SocialFi platform that brings together Alpha Hunters focused on on-chain trading and Web3 projects. It breaks away from the traditional top-down social trading model and rejects the hype-driven content of both centralized social media and decentralized platforms dominated by key opinion leaders (KOLs) and spam. By employing a point-reward system where points can be converted to on-chain tokens, AlphaHub incentivizes members to share high-quality insights and analyses that drive data-supported SocialFi practices, promoting value-sharing and community empowerment.
AlphaHub reimagines the creator economy and social finance by tokenizing social connections and content, combined with transparent on-chain history. Rather than relying on KOL promotions or meaningless content, the platform emphasizes authentic, data-backed insights and trading opportunities. Community members are encouraged to contribute valuable perspectives, earning points that can later be converted to tokens as rewards, fostering a cycle where sharing insights and strategies directly translates to tangible benefits.
Inspired by FarCon Discussions and the $DEGEN Token Model
Drawing inspiration from discussions around the creator economy at FarCon (Farcaster Conference) and the interaction model of $DEGEN tokens, AlphaHub aims to redefine social trading by directly addressing core Web3 needs: seeking opportunities and navigating projects effectively. Community members share genuine, actionable trading insights as posts, which can be rewarded by others, establishing a positive loop of "share your insights/experience/strategies and earn additional tokens as a reward." AlphaHub not only provides an interactive platform centered around trading, projects, and the broader Web3 landscape but also builds mechanisms for users to earn rewards through meaningful contributions, driving the overall growth of the Web3 community.
AlphaHub: Ensuring Transparency and High-Quality Engagement
In addition to the core features and mechanics detailed below, AlphaHub adopts unique measures to foster transparency and meaningful interactions:
- Unified Community Avatars: All members use a standardized default avatar to reduce KOL influence, personal branding, and spam, ensuring that the focus remains on content and data.
- No Usernames or Social Media Links: To maintain the emphasis on on-chain data and trading records, members cannot set usernames or link other social media accounts. Their address data serves as their sole identity.
- On-Chain Data Support: AlphaHub values data-driven reputation—your on-chain record can support your insights and help build your credibility. Each insight post shows the address’s recent profit/loss data, providing a transparent measure for evaluating content. By clicking on the poster’s avatar, members can view the user’s recent profit/loss, token holdings, and transaction history, helping the community assess the quality and professionalism of the content. Additionally, the Profile page allows members to view a user's past insights to evaluate their reliability and track record.
AlphaHub’s Core Operations and Features
- Daily AH Point Allocation: Every day, members receive AH points to tip others within the community. These points must be used daily and do not carry over to the next day. The daily allocation is determined by a user's past engagement, received tips, and interactions with other insights.
- Posting Insights: Members can earn tips by sharing quality insights, which can range from project introductions and early contributor opportunities to personal trading insights, profit/loss scenarios, and data dashboards.
- Address Data Lookup: Users can search addresses to access past posts, as well as profit/loss data, token holdings, and transaction history from the last 30 days. This provides a robust foundation for evaluating the credibility of content shared by community members.
Enriching Community Experience and Token Utility
- Valuable Information Access: AlphaHub’s homepage features curated content, such as trending tokens, that the platform deems valuable for members’ reference.
- Diverse Point Utility: The platform offers varied ways to use AH points, promoting better community experiences and fostering deeper interactions among creators, while enhancing the liquidity of AH points.
- Monthly Token Claims: At the end of each month, community members can claim tokens equivalent to their earned AH points via their profile. Claimed tokens can then be used for liquidity mining to achieve higher yields.
AlphaHub aims to redefine social trading by building a transparent, community-driven platform where high-quality insights are rewarded and where members can grow together as they explore trading opportunities in the Web3 space.