Ethereum-Based Social Money Startup Roll Reaches 2,000 Users

By December 18, 2019Ethereum
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The Defiant writer Camila Russo's new social currency CAMI (The Defiant)

Roll, a protocol for “social money” built on the Ethereum (ETH) blockchain, hit an adoption milestone earlier this week with 2,000 unique active users.

According to a recent post by Roll co-founder Sid Kalla, the beta version of the app reached the 2,000 user milestone on Monday after hitting 1,000 unique active users less than a month ago. These users include content creators, artists, video game streamers, journalists, investors and others looking to mint their own social tokens.

Roll’s UI (Roll)

“Roll builds infrastructure for social money,” said Kalla in the post. “We help communities build their own ‘crypto-economy’ by providing them with all the needed tools. Primarily, this means easy ways to get social money into the hands of the community and to provide opportunities for these community members to spend their social money on valuable things.”

Roll works by minting a set supply of 10,000,000 ERC-20 tokens per issuer, with the first 2,000,000 instantly deposited to the issuer’s Ethereum account to be used how they see fit. From there, the remaining tokens vest over a period of three years until the max supply of 10 million tokens is reached.

Applications for these tokens have ranged from rewards for engagement on social networks and streaming platforms to functioning as a form of payment for digital artists on popular NFT marketplaces.

Social money can be sent directly on Roll if you know someone’s user name, to an external Ethereum address or using an earn code if you’re the issuer. Roll also recently created its own payment bot on Discord, allowing users to instantly tip others in social currency.

The startup has made significant progress to date, bringing on well-known members of the crypto community including notable names like Calvin Chu and Camila Russo.

I'm now a millionaire.. in $CAMI

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