Relevance Coin
1 billion free coins to improve relevance on the web
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Chris Messina

Relevance Coin - 1 billion free coins to improve relevance on the web

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Raycast
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We're creating a new category—relevance—to let you discover, save, and read what's worth your attention. To make it happen, we're giving away 1 billion coins to early users for free and we'll buy them back later with our profits.

Product Hunters who join until October 13 start with 20 coins.

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Nick Neuman
@dominikg Interesting use of tokens here. I've never heard of the platform, but I use Pocket all the time and am signed up for way too many newsletters, so this could be a great merging of both tools that I will definitely check out. I have a barrage of curiosity for you: - Will the tokens be used for incentivizing curators, or is it purely a reward for sharing the platform? - If I'm reading the website correctly, Refind will repurchase tokens based on market price, but will also have an unlimited option to repurchase tokens at $31 per token. How did you come up with that price? Seems like that will cap token value at $31, even if 10% of your profits exceed that $/token, as the underlying value in the tokens comes from your buyback promise. - Do you plan to add any publishing to Refind in the future, or is it strictly a discovery platform? - Finally, do you have a way of integrating the (many) weekly newsletters that people curate? Thanks!
Dominik Grolimund
Maker
@nneuman Thanks for your questions. - We're going to add more ways for active users get coins. Incentivizing curators is an idea, but incentives need to be designed very well. - I'm planning to write the back story at some point, and I might talk about the cap too (note that the cap at $31 is high, 1bn x 31$). - We do have a publisher's program (https://refind.com/publishers), but this is not to publish on Refind, but to use Refind for distribution. - Well, you could tune down on them if you used Refind. But what would you have in mind?
Nick Neuman
@dominikg Good point about 1bn x $31 🤔😁 As for the newsletters, I think your answer about using Refind for distribution may be the key. If people sent their newsletters through Refind and were "scored" based on the quality of their curation, possibly incentivized by tokens as you mentioned, it could allow people to more easily identify and cut out newsletters that aren't of high quality. Really, Refind makes the curation part of newsletters unnecessary anyway. The commentary can still be interesting at times though, which is the piece that would be good to fit in somehow. My answer isn't very concrete, sorry!
Nic Perry
@dominikg @nneuman I'm seeing the same thing, capping value at $31 seems to place an upper limit on how much what I add can create value for me. I would personally prefer seeing $31 as a lower limit, or market value. If this really takes off, I could see coins being worth well over $31, if there wasn't a threat of the company buying everyone's coins out. If I'm reading it right, I imagine it would create a soft cap at least a few dollars under, because the risk of buying at lets say $29 when it only has $2 of remaining potential value is no longer worth the risk. The market would probably grind to a stop around $30 with no one willing to buy any of the coins.
Dominik Grolimund
Maker
@nneuman Agree! Note that you can comment on links on Refind.
Nic Perry
@dominikg $31 is definitely high up front, but as you burn coins after buyback, I assume that will raise the value of the remaining coins, by the time you buy back 98% and there are only 2 million left, exceeding $62 million in coin value isn't out of the realm of reason is it?
Erica Berger

Refind has powerful and good intentions.

Pros:

I helped come up with the term relevance in regards to content and to Refind, and believ the relevance economy will improve the web.

Cons:

Giving away coins is a new concept, so who knows!

Bjorn Larsen
You did what now?
Tibor Martini
I‘m on refind since the early days and can‘t stop recommending refind to users. For me refind is a perfect hub to discover news and stories about web development, web design, all kinds of tech and news but whats really amazing is that you can train the feed to your very own interests. For me, Refind regularly outsmarts other news aggregators and serves me links I wouldn‘t have found on twitter, medium or facebook and helps me at the same time to organize and rediscover articles and tools. This seems to be a very interesting business model to me and I wish you much success! If you like to join 👉 https://refind.com/tibor?invite=...
Dominik Grolimund
Maker
@ungeruehrt Thanks a lot. Very happy to have you on board!
Jason Pittam
News + Social + Relevance = a good mix. News + Social + Relevance + Incentives = a great mix! @dominikg, awesome job. In addition to their features, keeping users engaged is a strong point of Refind. To get in the mix, join here to get 20 coins.
Stefan N.
Awesome addition to a really valuable tool. Would be great to have a solid „social relevancy“ algorithm for gems on the web backed by this incentive system.
Ken Cucchia
So I have to invite around 5 million people to attain those coins essentially?
Dominik Grolimund
Maker
@kcucchia :D It'd be 50m, but keep in mind that the invitee also gets 20 coins. Also, we're going to add more ways for active users to get coins. The system is designed so that the first 10m users get the coins (with early, active users holding the majority).
Marshall Mazagwu
Pros: Really cool idea. Think Medium and Twitter News meets crypto. Cons: New's aggregation is a fairly crowded space. Not necessarily a bad thing, just something to keep in mind. Given that you also get free coins for joining, I'd say there's enough reason to give these guys a shot. Feel free to sign up with my invite for 20 free coins!
Joona Tuunanen
I've been using Refind since December 2015 and I can say that it's one of those apps/services that really makes my life better and easier. This is such an awesome and clever initiative by the good folks at Refind. If you've never tried it, this would be a great time :)
Dominik Grolimund
Maker
@iamjoona Thanks! Happy to hear that you use it since the start!
cacarr
I'm finding some interesting stuff to read already. It works. My only issue is that the Android app could use some love. Pretty wonky, and looks like an iOS app.
Dominik Grolimund
Maker
@cacarr Fully agree, our mobile apps (both iOS and Android) could use some love. They're hybrid at this point, and we're planning to go fully native down the road. We're hiring!
cacarr
@dominikg As an Android user, a fast, native Android app that conforms to design guidelines, with Material elements, and all that, would be nice (for very general design inspiration, check out the beautiful Robinhood app on Android) -- but in the meantime, just a PWA with a completely rethought UI could be a much better experience than the current situation. I find the UI unintuitive, and I suspect the mobile experience is a pretty significant bottleneck.
🤔
I want to mining like a crazy jellfish. Right now! mining more REC
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