SoMee May 29th AMA

First and foremost, we want to thank everyone who served in the US Military, and any military worldwide, for their service to their country - your service, your friends, and families sacrifices are always appreciated - and should be honored by everyone.

Those that take up the mantle of service are truly selfless and protect every one of us from harm and we appreciate them to no end.

AMA Topics

• Launch Status – May 28, 2021
• Accessing Old Site
• Beta Member Updates
• Short Videos
• Feature Updates
• Partnership Announcements

6/2/2021 Important News Announcement

SAT Announcement

SoMee May 28th New Features

• Groups & Companies are Operational!
• Albums/Photos Pages can be used now*
• Add support to pictures on comments
• Add a link to posts from notifications and update colors
• Short Clips*
• Account Creation works!
• Added Coingecko logo for our Partner for Favorite Coins!
• Added Maintenance Page
• User status (online/offline) (Live status)

IMPORTANT UPDATE FOR BETA MEMBERS

• Beta Members who joined after 3/1/2021 must RECREATE their accounts on SoMee.social or wait for the devs for migrating you.
• If you already had an account prior to 3/1/2021, then you already have a SoMee.Social account and can log in (though you may have to change your password).
• All post data will be eventually migrated over, but this is a slow process. Once it’s migrated, posts, comments, and user accounts will be matched up and ready to go!

SoMee Project Marketing Update

• Our Marketing will be Kicking Off SLOWLY, but surely this month.
• Our Influencer Network has decided to kick off small marketing Campaigns and bring on other Influencers.
• Our big Campaign Pushes will be in June, with a focus on July for MAJOR campaigns (as the blockchain is slated)

Keep in mind that other smaller projects that can get around doing hype-type marking are they are smaller projects - don't have tons of partnerships and are not building a platform as big, and robust as SoMee. Everything requires us to build the base, the relationships, influencers, and campaigns from a solid foundation - and for a project as big as ours, if we were to jump into marketing right now, it'd be a massive mistake and hurt the project, our reputation, and us as a whole. We are not here for hype, we are here for a social media platform to build a great system for people to use.

SoMee Partnership Announcements

We have announced the following Partnership Announcements during the AMA (check the slide deck for details):

• Panthera - who will be helping us with our marketing, investment, and other things we agreed upon.
• Tipalti - Main provider used for handling the withdrawal of funds from the platform in a compliant, international way.
• Skrill - For crypto debit cards, and withdrawals in other countries not supported by Tipalti

SoMee AMA Slide Deck

Here are the slides:

Live AMA Questions Record

• Cordish j 10:30 - How will Somee integrate on a global scale? Will users only be able to see American Somee if they're in America? etc
  • Answer by Phillip at 10:47 AM: SoMee Social has a full translate feature, which will allow you to use it in many major languages 🙂
• Michael H 10:46 - "Do we have any company revenue projections per million daily active users? Thanks!"
  • Yes, we do have a company revenue projection that we can share with the community - this will be posted soon on the Development blog by Chris - We did revamp how we did our revenue share and projections to be more in line with a 5-year plan, thanks to our new partnership Panthera who were able to give us a better understanding of our projections.
• Madam A 10:49 - Gfuel is pegged to ONG. What will SoMee points which will be replaced to TBA, be pegged to?
  • Points and GFUEL are based on the same thing, SoMee Points - GFuel is just powered up Points that are used for Voting Power - this hasn't changed; both would be pegged to the value of the main Token (TBA) that is providing the actual value for the Points in question - Ergo, the more points you earn, the more you can convert them to the TBA token and cash them out - Value, in this case, is derived from the Utility of the main token.
• Leandre S 10:55 - What’s gonna happen with the old token ONG? Will Somee do an airdrop to replace the old tokens with the new SAT token … how will that work?
  • SoMee will not be doing an airdrop of tokens for SAT - that's not what the SAT token is for - SAT is used for Advertising Staking - to allow you to get involved with the advertising revenue that is generated from Ads on the platform from advertiser campaigns - and campaigns YOU as the user are opted in to.
  • As to ONG, it will be converted over to a Governance token, that will allow YOU as the community to have a say in where this project goes, and what features we'll be creating for the application.
  • You can also stake ONG for SAT to do Yield Farming (details to come) as well.
  • The new rewards token (TBA) will replace the current reward token (ONG), and ONG will convert to Governance and SAT Staking for additional SAT
  • SoMee Points and GFUEL don't change
• Ravi J 10:57 - "With this 28th may release, is somee out of beta? And is it the MVP release?"
  • We are not technically out of BETA no, this is more of a Release Candidate - because our goal right now is to get to an MVP (minimum vial product) for the Social Media side of the house - the May 28th update included MANY features (see the feature list above) so that you can understand what we did. Once we are more solid on some of the video elements, and our VOD infrastructure is in place, and our Social Media modules are complete, then we'll be considered in MVP (and out of beta official). However, we HAVE removed the term 'beta' from our site, and we are officially in a Release Candidate state.
• Ravi J 10:59 - Are we on track for Blockchain in July?
  • We are currently on track for the Blockchain MVP in July - as we'll be doing tandem development in June and July of blockchain functions. To that end, when we say MVP, we mean a minimally viable product - so you'll be able to post directly to the Hive blockchain, vote, and earn rewards - that doesn't mean you will have the full wallet functions available by that time, just the basic blockchain functions.
  • Additional blockchain functions will exist AFTER the June/July work is done, with additional wallet functions, side chains, and DEFI elements being added in August, September, and October of this year.
• Madam A 11:14 - "Those who filled the hodl form will receive x2 as Gfuel, however, will x3 be also as Gfuel or TBA? Also what happens to the SoMee points, which couldn't be converted into Gfuel during blockchain switched off. They were to be x2 as well?"
  • For those who filled out the election form, we will still honor your request once the new TBA token is in place; we'll do the 2x promotion FIRST, and for those of you who qualified for the 3x promotion, you'll receive that as well. Given how we'll apply for these promotions, that means some of you may get 6x the value (which we already talked about).
  • SoMee Points and GFUEL will not be affected; they are still yours; either on cash out or migration - if they didn't get part of the election or converted to GFUEL though, those will just be awarded at face value to you in the new blockchain.
• Michael H 11:16 - AC has role-playing a cat humanoid affected your day today? x]
  • Per AC: Nope, normal life.
• Glenn B 11:21 - I solved the word puzzle regarding the scavenger hunt. What's the next puzzle?
  • Phillip got out of the hospital for a lung infection during the time we were going to work on the puzzle - he'll begin work on this in the upcoming week and should have something about the 2nd or 3rd.
• Jose P 11:23 - Tipalti is open for Venezuela?
  • Answer by Chris at 11:42 AM: Yes!! (in fact, Tipalti is open to 190 of 195 countries)
• Madam A 11:27 - What's the maximum we can cash out per day per person?
  • $250 per day, regardless of the export option (token, another side chain, Tipalti, or Skrill), no more than $2,000 per week, and no more than $10,000 per month.
  • We made this determination based on how the economy will flow, as well as to align with all of the partner limitations (some have more limits than others), but these are the lowest limits that all of the partners, side chains, and well, frankly, our bank and pocketbooks can reasonably afford lol
• Crypto X 11:30 - I may be wrong, I remember that republic.co was mentioned for ONG company offering, is that still in the works?
  • Yes, but currently, due to no small part on Chris's side, that is still pending - there was a lot of paperwork to do, and some of it Chris did miss - however, Republic is still very much interested in us and is still moving forward with this - once we get the proposal finished, and investment round is completely done, then we'll be able to access the funds (which is about a month from now or so)
• Jose P 11:32 - Wich of all payment platform pathers Will be the one they Will use to somee en Venezuela?
  • SoMee will utilize Tipalti for withdrawals in most countries - including VZ - and what payment options are available are what is normally available in your country. You do still have other payment options, such as switching POINTS to TBA token, and doing whatever you wish with that TBA token
• Andreas W 11:33 - "When do you guys project that the SAT token utility will kick in? Still in Q3 of 2021?
  • We will have different YIELD options for this starting at 1,2,6,12 month durations, with the ability to extend it beyond 12 months to 24 and 36 as well for longer-term staking.
• Calvin S 11:34 - Is there going to be a minimum staking period for ONG?
  • Staking announcement will be here soon; there is a Yield farming opportunity for ONG to SAT as outlined in the previous question.
• Michael H 11:37 - Awesome projection, that 2million user projecting 400 million$ revenue based on a predicted revenue generation of 200$ per user per year?
  • Yes, it's just based on a standard power-up package per user being generated at least once per year - the revenues behind this are literally based around that power-up package. And, given what we've seen since the release of the power-up packages, most users would tend to buy 2-3 times per year, so the revenue projections here are actually LOWER than the anticipated data shows.
• Alastair M 11:40 - "Are you guys getting any sleep?
  • What is this sleep thing you are speaking of? But, in all seriousness, yes, we do get sleep, but sometimes we do have to work extra long hours to complete some of these very technical tasks.
• Nicolai O 11:43 - "How much do users earn from 1 g-fuel with a 100% upvote. I know it fluctuates upon the price but it has to be some kind of percentage of the 1 g-fuel?"
  • To explain this here, would be too difficult -- Your GFUEL value will determine what your vote is worth, in POINTS, to the receiving party - and each subsequent vote of others the same way. However, there is a LOT that goes into what constitutes how much that is - including your voting weight, how active you are, how many posts you've done, etc, and how much each of those weights affects that individual post.
  • For the average person, knowing the actual scientific formulas behind something like Hive and Steem isn't necessary to learn how to use the application - the only thing you really need to be concerned with is if you are voting at 100% or not. The higher % you vote at, the more value you will get out of your vote when the post closes.
• Nicolai O 11:45 - Will skrill payout be active as soon as the blockchain?
  • Answer by Phillip at 11:46 AM: no, we'll be building Tipalti after the blockchain - we want to focus on each of the main partners for this level of integration. But it won't take long 🙂
• Erasmus P 11:46 - Will the new hive token have a limit to swapping, like the $250 limit? Thank you.
  • Answer by Phillip at 11:47 AM - We will usually keep the limits the same across all services - so to start $250/day (full limits were answered previously here)
• Michael H 11:47 - Tough question! How will equity ownership compete with governance from ONG? Will there be a middle ground?
  • There will be equity regulations and rules that one has to follow, so as not to overshadow the benefit and reliance on the ONG token. This means that we'll make it fair for those who only hold ONG, or that hold ong an equity stake in the company as well. Full rules will be posted once Governance goes live.
• Ravi J 11:51 - Is there any ETA for the staking contract?
  • June 2nd
• SoMee S 11:53 - How much ONG will need to be held to unlock hire tier post rewards?
  • DEFI and Tier rewards haven't been announced yet.
• Madam A 11:53 - Thanks to Chris, Phillip, AC, and the Devs for all the hard work and efforts for creating a brand new platform from scratch and looking for many ways to allow its users to earn from. Well done!!
  • Thank you, we have worked very hard on this for everyone 🙂
• Saibaba T 11:53 - Fun Q - Why are you having Columbia Cap where is your SoMee CAP Buddy…
  • Chris doesn't always wear his SoMee cap as he doesn't wish to wear it out 😛
• Crypto X 11:58 - Is there an ETA on republic.co offering release?
  • Answer by Phillip at 12:01 PM - not as of yet, but hopefully within the month (see the previous answer on this)
• Chip S 12:01 - Please explain the tokenomics again. Is the ONG token being replaced?
  • Answer by Phillip at 12:02 PM - https://devs.somee.social/cardstarter-ido-partnership-somee-platform-tokenomics/
• Nicolai O 12:01 - Will the payout limit through Skrill increase over time?
  • Answer by Phillip at 12:02 PM - Eventually yes, but there are limits on the skrill side we must follow
• Nicolai O 12:05 - Sorry I don’t get the TBA g-fuel hive and somee points deal. Somewhere I can read about that?
  • We have answered that in our tokenomics as well as additional questions above - Hive will be the primary blockchain all posts go to and reward from by default on the platform. It is the FIRST major sidechain we are implementing now that we got rid of Steem (as it was old, antiquated, and just couldn't keep up with us).
• Alastair M 12:06 - "Have a great month everyone!
  • You Too!

Live AMA Chat Record

SoMee AMA Evaluation from Users