After practically two years of behind-the-scenes work by our product crew, the Decrypt Token is stay right this moment for all readers in our cellular app.
This is not an ICO or a fundraise. The Decrypt Token (DCPT) is not exchangeable for cash or for different cryptocurrencies. The token is our manner of taking part within the decentralized trade we cowl, and experimenting with how cryptocurrency can spur reader engagement.
We see it as a really thrilling step for digital journalism.
It is quite simple: You earn DCPT for studying Decrypt articles, sharing them with a good friend, and reacting to them, all inside our cellular app. Quickly, readers who’ve amassed sufficient tokens can redeem them for digital rewards.
And it’s extremely cool: You will shortly uncover the tactile enjoyable of watching a coin fly into your pockets each time you earn one.
You continue to may ask: Why do a token?
A token supplies Decrypt readers with irrevocable possession, it provides to our current reader neighborhood, and it’ll function a foothold for us to push additional into the decentralized net.
Consider Decrypt Tokens as frequent reader miles—with out counting on trusting third events.
That final bit is essential. For the standard rewards program, similar to airline miles or bank card factors, you don’t want a token. Chase Sapphire doesn’t use a token. Neither does American Airways.
However they expire your factors. Or in some instances, they flat-out void them. You don’t have management over your factors—they do. And also you’re trusting them to make your factors out there if you wish to use them.
With a self-custody token, you personal it. Nobody can take it away from you.
Reclaiming energy in digital media
You hear it so typically: “Media is dying.”
It’s at all times been dying, and it is at all times being reinvented. Journalists and information readers have watched a perpetual cycle of centralization by trade monopolies, after which decentralization by the hands of innovators. Fb and Google centralized the web, and within the course of destroyed conventional media enterprise fashions.
Now comes the enjoyable half: taking some energy again.
The web is damaged in its present state of walled gardens, surveillance capitalism, and private info harvesting. Crypto doesn’t repair this utterly, however it offers us a brand new set of instruments to play with and with which to construct options.
We see our experimentation with a reader token as akin to constructing your app within the cloud circa 2010 as an alternative of a self-managed knowledge heart. It’s a wholly new paradigm, and we don’t know the total implications simply but.
The Decrypt Token in its present type is an experiment in a bleeding-edge tech undertaking that places our readers first. Issues get fascinating when you think about what’s attainable on high of that: user-driven prediction markets for information occasions; reader collectives that put money into progressive artwork and media tasks; “proof of status” and group fact-checking; micropayments for unique or investigative content material.
You’ll be able to’t do any of that along with your bank card factors or airline miles, or with any centralized database, for that matter. However that is what tokens had been made for.
Check out what’s happening in DeFi to see a glimpse of the longer term: decentralized autonomous organizations guiding nine-figure investments; protocol designers drafting, debating, and voting on governance proposals, all on-chain; trustless peer-to-peer markets for brand spanking new digital property, with computerized royalty assortment and payouts to creators.
These developments circulation from the neighborhood of customers behind the expertise, and the neighborhood makes use of tokens to show and seize the worth they create.
Additional your crypto training
There’s a 3rd cause we’re excited concerning the token: the easiest way to find out about crypto is to get your palms on some and begin experimenting.
With the expertise we’ve created, anybody can simply arrange a pockets and begin incomes tokens in a enjoyable, simple, intuitive manner. We expect that is a reasonably large deal in crypto, which to date has gotten low marks for usability.
You obtain the Decrypt app, arrange a free pockets, and earn tokens as you interact with our content material. That is it. There’s no 24-word seed phrase to memorize, four-hour transaction wait instances, or overwhelming acronyms and jargon.
We expect we’ve constructed probably the most seamless crypto experiences out there—we hope you agree.
The token is a pure development of our mission to demystify the decentralized net. Hundreds of thousands of readers come to our website each month—4.6 million in February. With our token, we’re onboarding the subsequent technology of crypto customers to the ecosystem, and we can introduce these readers to the core ideas of this trade: wallets, balances, transactions. We’re exhibiting, not simply telling.
In our app, you may discover our each day information protection, but in addition our wonderful Study part, stuffed with helpful explainers, written with a layperson in thoughts, on the whole lot from Bitcoin to DeFi and yield farming. In the event you’re a seasoned pupil of crypto, we’re right here that can assist you advance additional in your experience. In the event you’re new to crypto, welcome — and here is your start line.
The primary “season” of our token is sponsored by Filecoin; future seasons might have completely different sponsors. You’ll be able to learn extra about our Filecoin partnership right here.
To get all of your questions answered about how the token tech works, see our token FAQ right here. You can even be a part of us on our Discord channel to debate this launch with the crew.
Joyful studying, glad studying, and glad incomes.
–Decrypt CEO Josh Quittner, CTO Ryan Bubinski, and EIC Dan Roberts, on behalf of Decrypt’s wonderful enterprise, product, and editorial groups