Sekret Network’s 1st round of FAQ
Since we’ve decided to go live with our project a few weeks ago, we’ve already caught some attention, and got quite a few questions from tech-enthusiasts, potential investors, and people excited about our project. So we’ve compiled this list of questions that we’ve seen as the most interesting and most important. Enjoy!
1.What is your project trying to achieve?
We aim to build a platform for all adult content creators, where they could freely share and monetize their content, without the fear of being censored, banned, have their income seized, or pay exorbitant fees, while being able to communicate with their fans. And where all parties involved will have a say in the platform’s future.
2.Which brings another question, what is the “community fund” and what is its purpose?
Sekret Network is, first and foremost, a community oriented project, with only one purpose: to serve and benefit the users of the platform. That is why we’ve decided to allocate 20% of all tokens into this community fund. These tokens will be stored on a public, transparent address, and people will only be able to decide the fate of these tokens via a public vote, which will be held in our official telegram channel (link at the bottom of the article). Portions of these tokens can be donated to charitable causes, airdropped, sold for further funding, or completely burned, thus reducing total supply of tokens in circulation, which could drive the price higher. But they will only ever be used for what community voted.
3.To what company/platform/service can Sekret Network be best compared to? Centralized or decentralized?
It is pretty obvious, that Sekret Network was (initially) created as a direct, decentralized competitor of OnlyFans. OnlyFans is the biggest, most known platform for sharing and monetizing adult content. But its business model is very flawed, with only one goal — and that is to enrich its creators. Just looking at its figures from 2020, OnlyFans generated $400 million revenue, out of which $300 million was profit (before expenses, taxes and other costs). And it is wildly known, that OnlyFans takes up to 40% of their content creators’ revenue.
But while Sekret Network was first created to be OnlyFans’ direct competitor, we’ve already evolved past that. We want to become a one-stop platform for all content creators from the adult entertainment industry. We want to create a platform, where content creators can share and monetize their content, interact with their fans, where small independent studios can raise funds to fund their creative endeavors, where people can create art, and have it immortalized on the blockchain in the form of NFT, and prevent piracy and illegal reselling of content, that these people work so hard to create.
From decentralized competitors, we’ve noticed a few projects. Most notably SpankChain, which is being promoted by a few well-known adult entertainment workers. Aside from the fact, that this project is a 2017/18 pump-n-dump token, it is nothing more, but another corporate cash-grab, that is hiding behind a veil of decentralization.
From the smaller, community driven projects, we’ve noticed TreatDAO. We like this project, despite being our most direct competition. However, TreatDAO appears to be a very niche-oriented project, without that much needed mainstream appeal. But still, we like the project and wish it would succeed, as we see competition as a good thing and a primary driving force of innovation.
4.Why is the team anonymous?
The reason why we remain anonymous is simple: while we are just a small team, our idea and product have potential to seriously disrupt the entire industry (adult content monetization), while bringing something revolutionary — NFTs for content creators — and the same time, removing the money-hungry middlemen from the equation. Adult entertainment industry is well known for its cut-throat, competitive nature. Just a few big players control the majority of the market, and they have the ability to literally destroy anybody and everybody, who might threaten their interests and profits, which they obtain by employing very questionable practices (one might call them “exploiting”).
We chose to remain anonymous to stay under-the-radar, to protect our privacy, while we test our MVP. Once we’ll have the much needed funding, and prove that our product works, we’ll all be happy to reveal ourselves (but still, we’re just a couple of programmers). But revealing our identities too soon, we fear we might become targets of extortion, blackmail, and other nefarious practices, in order to discredit our work.
5.Why is Sekret Network built on BSC?
We chose Binance Smart Chain network as our base of operation because of its reliability, speed, flexibility and already established reputation. We built our MVP (minimal viable product) to test, whether our idea has potential, and subsequently, to collect initial funding, that will allow us to build our own platform — an entirely custom ecosystem with its own blockchain, token, and governance model. But building an entirely new ecosystem like this, one that would best suit our needs, is very demanding. It requires vast amounts of time, money and manpower. That is why we’ve decided to pursue public funding via a presale of our $SKRT token.
6.Why do you only lock 70% of liquidity? Industry standard is 80% and higher.
We determined it would be better if we lock “only” 70% of liquidity, so we can use the other 30% to fund development and marketing, so we don’t have to liquidate our team funds, and thus, keep the price stable after presale.
70% is just a lot more sustainable for the project in the long term, as we’ll be able to fund development of Sekret Network without affecting the price by selling our team tokens too soon after presale. Locking 80% or more of liquidity would leave us short on funds, we would have to start liquidating our team funds, which would negatively affect the price, and thus, damaging the project in the short term. And in cryptocurrency space, with how fast things move and develop, having a bad start might kill the project entirely.
7.What is your (the team’s) vision for the future? Where do you want to be in, let’s say, 1, 2, or 5 years?
With the speed cryptocurrency industry is moving forward, it is really hard to say where we will be in 5 years. But meanwhile other projects are jumping from trend to trend, trying to be “the next Bitcoin” or “the next Ethereum”, DeFi, DAO, oracles, dexes, funds, cross-chain, swaps, liquidity providers, etc., you know the buzzwords. Sekret Network wants to be a project, where blockchain isn’t the core of our business, but rather a crutch, that will help us achieve our goals. And that is being a platform with real-world use-case, mainstream appeal, with actual customers, that is generating revenue on a steady basis.
We don’t aim for a multi-billion dollar market capitalization. But we believe that $100 million market cap is easily achievable in 1–2 years, and who knows, when the bull run comes, we might even break the fabled 1 billion dollar mark in those 5 years.
We hope this round of FAQ helped shine a bit of light on Sekret Network. If you still have some questions, feel free to reach out to us on our social media:
Twitter: https://twitter.com/SekretNetwork
Telegram: https://t.me/sekretnetworkchat
Website: sekret.network
