Port3 Network (PORT3): Unified Social Data for Web3

Social media has become deeply engraved in our daily lives. However, most of it is still heavily centralized, with control remaining in the hands of Web 2.0 tech conglomerates like Facebook.

As such, Web 2.0 social data constantly battles with various pain points such as data leaks, privacy invasion and content control. While web3 provides a way to address these challenges through the decentralization of data, most of the apps in this space remain small.

Enter Port3 Network. As a blockchain-based data oracle, Port3 Network has a grand vision of revolutionizing the social media industry by providing a gateway to transition social data from Web 2.0 to web3. Let’s take a closer look at Port3.

Key Takeaways:

• Port3 seeks to create a unified social data layer where users can enjoy increased privacy of their web3 identities while still earning rewards.

• Its native token, PORT3, powers various activities such as payments to access features, and serves as a governance token for the Port3 platform.

• Seven percent of the total PORT3 supply will be airdropped to Port3 users over three seasons as an incentive for using its platform.

What Is Port3 Network?

Port3 is a blockchain network designed to aggregate and standardize data (both off-chain and on-chain) by creating a powerful social data layer for the diverse needs of web3 users. In essence, Port3aims to become a one-stop web3 social data oracle ensuring that rights to data ownership, identity, privacy and rights on the internet remain firmly in the user’s control.

Port3’s sophisticated ecological architecture comprises a matrix of interconnected products designed to shake up the social media industry through blockchain. With over 4.5 million users and more than 5,000 partnerships, Port3 is keen on community profiling in order to onboard and better serve the web3 community.

With products such as bot services, community marketing push and an analytics dashboard, Port3 has enticed diverse players in the tech space, acquiring grants from Binance Labs, Mask Network and Aptos.

Activities on the network are governed by the PORT3 token, which powers various elements in the Port3 ecosystem.

How Does Port3 Work?

To solve the problem of data centralization on the internet, Port3 Network’s infrastructure works in the following phases:

1. Data Collection — As the first step on the platform, data is acquired from both off-chain and on-chain platforms. With extensive data sources, the network is better placed to accommodate more users and address its needs more comprehensively.

2. Data Aggregation — Once data is collected, it enters an intense processing and standardization stage, where the social data is compressed and assigned usable indicators and identity tags that help facilitate analysis.

3. Data Application — After the data has been standardized, it can then be utilized by various users in the network’s community. Some data applications include targeted advertisement, community management and content creation.

Port3 Key Features

The landscape of Port3’s ecosystem consists of the following key features.

Robot Matrix

The Robot Matrix (or SoQuest Robot Matrix) is a bot service that’s used to detect and analyze all the social actions done by projects related to the network’s SoQuest native platform. The bots perform two crucial functions:

• Automation of the process of joining a project’s Telegram and Discord for off-chain users

• Aggregation and standardization of data from social media in order to facilitate analysis

With coverage of ten public blockchains, such as Ethereum, Avalanche and Near Protocol, Port3’s Robot Matrix has helped many projects on the platform to generate token quotes, analyze market sentiment and even organize airdrops.

SoQuest

SoQuest is an open-source platform where stakeholders such as DAOs and web3 players can perform various off-chain and on-chain onboarding activities for Web 2.0 users, such as setting NFT rewards and earning while building a web3 identity.

This innovative questing platform boasts over 4,000 projects, which have onboarded over 2 million users (and counting). With its AI-powered dashboard and advanced data analytics, users can participate in campaigns and earn crypto (and other) rewards. Furthermore, the platform has launched mobile apps for Android and iOS to increase its user base.

As part of its commitment to innovation, SoQuest has integrated the following technologies into its architecture.

QaaS

With the Quest-as-a-Service (QaaS) widget on SoQuest, you can seamlessly integrate a project’s display and analytical capabilities into a its official web pages using one widget, and project teams on the SoQuest platform can monitor activity, analyze project growth and broaden their understanding of a project’s funnel.

BQL

SoQuest Blockchain Quest Language (BQL) is a user-friendly AI language that simplifies and streamless interactions with blockchains by transforming natural language into executable instructions. Using BQL, users can automatically combine complex on-chain activities, such as liquidity addition and staking, into a single step.

SoGraph Analysis Platform

Port3 uses the SoGraph analysis platform to facilitate construction of a social data layer by combining off-chain data from various sources with on-chain data. It uses advanced algorithms and machine learning to extract normalized data from different applications through its accurate data analysis capability.

The data can then be used to develop various market indicators, create member lists and monitor spam levels.

What Is PORT3?

PORT3 is the governance and utility token for the Port3 Network ecosystem. As PORT3 is a native governance token, token holders on the platform can participate in the decision-making process regarding Port3’s evolution. The project’s team believes that by providing incentives through the token, the network will develop a vibrant and engaged community, which is crucial to the platform's success.

Other use cases of PORT3 include:

• Staking to earn dividends

• Gas and payment tokens for the network’s L2 nodes

• Paying credits for the network’s BQL feature

• Purchasing credits to use on SoQuest

• Using as payment on the social data layer

PORT3 Tokenomics

PORT3 is powered by the Ethereum network and has a total supply of one billion tokens distributed as follows:

• Ecosystem: 36%, used to incentivize developers and users on the platform

• Treasury: 10% for future expansion

• Team: 20%, to be released over three years, with a cliff period of one year

• Private sale: 21%, of which 2.5% was unlocked at the Token Generation Event (TGE), the remainder with a linear vesting period of 24 months

• Airdrops: 7%, to be airdropped over three seasons (3%, 3% and 1%, respectively); one-quarter was unlocked at the TGE, while the rest is scheduled for daily release over ten months

• Marketing: 5% for all operations

• Public sale: 1%

Port3 Network Price Prediction

As of Jan 15, 2024, the PORT3 token’s price was $0.118, which is a 19.66% drop from its all-time high (ATH) of $0.1475 on Jan 9, 2024, and a 43.38% increase from its all-time low (ATL) of $0.1043 on Jan 14, 2024.

Crypto token price prediction platforms are cautiously bullish on the future price of Port3. According to CoinDataFlow, PORT3 could hit a maximum price of $0.912 in 2025 and diminish to a max price of $0.775 in 2030. Meanwhile, CoinArbitrageBot expects PORT3’s price to climb slowly to $0.287 in 2025 and reach $0.676 in 2029.

Please note that the above data isn’t financial advice, and we highly recommend you do your own research before investing in PORT3 or any other altcoins.

Where to Buy PORT3

PORT3 is now available as a Spot pair (PORT3/USDT) and can be traded via the Bybit crypto exchange’s Spot Grid Bots. To celebrate the token’s listing, Bybit is holding two events with a total of 200,000 USDT up for grabs.

Event 1

Dubbed Token Splash/Deposit, this event runs from Jan 8, 2024 through Jan 22, 2024, 8:59AM UTC. Out of the 150,000 USDT prize pool set aside for the event, 120,000 USDT is reserved exclusively for new users. Simply sign up on Bybit, get verified and accumulate a deposit volume of 100 USDT worth of PORT3, or deposit 100 USDT and buy any amount of PORT3 via your first trade using your Bybit account.

The remaining 30,000 USDT is for existing users, who can qualify for a 10 USDT reward by accumulating a deposit volume of 100 USDT worth of PORT3 during the event period on Bybit. or buy 100 USDT worth of PORT3 on Bybit. Rewards will be issued to the first 3,000 users on a first-come, first-served basis.

Event 2

For this event, Trade to Earn, a shared reward pool of 50,000 USDT has been set aside for those who trade a minimum of 500 USDT worth of PORT3 via Bybit through Jan 25, 2024, 23:59PM UTC. Rewards are first come, first served and are capped at 5,000 USDT per user.

Closing Thoughts

The global shift from Web 2.0 to web3 has increased as more entities enter the space. Social media is expected to keep thriving, and Port3’s decentralized social data layer offers users enhanced privacy and improved data organization as they engage with their online identities.

As the web3 wave continues to gain serious momentum, more projects will continue to leverage platforms such as Port3 Network in order to launch and run their products. Port3 is strategically placed to become a leader in providing open data layer services and decentralizing social data, which has been dominated by Web 2.0 conglomerates.

Furthermore, many activities are lined up on the Port3 project’s road map for 2024, such as staking launch, an updated BQL version, more airdrops and the launch of an L2 testnet. Such activities will likely accelerate the project’s growth in the cryptocurrency market space.

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