Relevance Coin

1 billion free coins to improve relevance on the web

#3 Product of the DayOctober 10, 2017

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.

Discussion
Would you recommend this product?
36 Reviews5.0/5
Super excited about what my friend @dominikg is attempting here... You'd be forgiven for imagining that Refind is just the second coming of delicious united with the save-it-later goodness of Pocket and Instapaper... instead, he wants to start with those services and then build a platform to reward those contributors who find, curate, and share the best content on the web. It's a bold new inventive take on the coin offering model... and one that I think is extremely well timed (especially considering Twitter's possible addition of a "Save for Later" feature!). If you still need an invite to Refind, you can have one of mine!
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@chrismessina very excited too! Rock it @dominikg
@chrismessina @dominikg Quick question: What was the inspiration behind this idea of Relevance coins/Virtual currency/credit system. Were you inspired by Quora Credits? What happens after the 1 Billion coin limit is crossed? Does this basically work as a quality control system after a period of time? Or is that the case from the beginning? Nevertheless, a great idea and implementation.
@chrismessina @adithya Thanks for the questions. I haven't heard of Quora Credits, but I'm planning to write the back story of this announcement at some point.
@chrismessina @dominikg Great, looking forward to read it. Also there's one more - Steemit (https://steemit.com) that incentivizes content. I am not sure how Product Hunt misses featuring few 'wonderful' products: https://www.producthunt.com/post... but that was months ago. Please do share your perspective/thoughts on 'Blockchain for Content' 😀
@chrismessina @dominikg @adithya I really liked the idea behind Steemit, which seems to operate on similar principles, but found it fell down in two key areas: 1) Almost all of the popularised content posted to Steemit is about blockchain, or about Steemit itself 2) Because of the monetary incentive, we're seeing the sort of lame comments that bots write on Instagram posts - a whole bunch of "Great post!" comment spam in the hope that someone with steem power upvotes your comment and you earn some Steem. From a quick glance, it looks like you might have solved the first issue (reminds me a bit of Nuzzel in the way content is recommended), and have a wider breadth of content, but I'm curious as to how you are tackling the second issue... or if it's even an issue, given the way your platform works.
Two years ago we started our journey here on Product Hunt. We've reached product-market fit, Refind is used by thousands of engaged users and it's growing. But now we want to accelerate growth, so we're making a big announcement today: we're giving away 1 billion coins to early users for free. At a later point, we'll buy them back with our profits. It's the world's first token-based referral and buyback program. We think it's a better alternative to ICOs for startups who are not looking for funding but who want to grow the network instead—millions of users instead of millions of dollars. Product Hunters are invited to join for the next three days and will get 20 coins to start (like if they were invited by another user). This also applies to Product Hunters who joined previously. After three days, we'll go back to invite-only. You can get more coins by inviting your friends (20 coins per signup). 1. Read the announcement: http://relevance.community?ref=p... 2. Sign up and get 20 coins: https://refind.com?ref=producthunt Thanks for your interest! I'll be around here and on Twitter (https://twitter.com/dominikg) for questions all day.
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@dominikg This is a really imaginative idea. I've been using Refind and enjoying it for a while, and it just keeps getting better with the more people that get on board. Godspeed.
@mbmusgrove Releasing just now. Please try again in 2 minutes.
@mbmusgrove That's great to hear, thanks!
@mbmusgrove Does it work now?
It's insane how fast @dominikg is pushing out new, high quality stuff. Really impressed again!
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I've been on Refind for quite a while now and am trying to convince people to use it for mostly the same while now. It's just an awesome product to use. After dipping my toes into blockchain technology too now for some months it's awesome to see @dominikg and his team go this route now. I'm so excited and am very curious to see how this is turning out While i'm quite sure it will be awesome. Good job, @dominikg – this should help you getting Refind to even more fame.
@helmi Thanks, also for all your help in the past!

I guess we will have to watch this space. The possibilities are endless and this is the first time a web service is linking the "linking" with "minting".

Pros:

By connecting "monetisation" possibilities with "content" relevance, this is an unprecedented mix: nothing like this exists at the moment.

Cons:

Yes, I think if they can allow coins for "minting" new & relevant information, rather than "give away", that would be great.