1. Basic Metrics

Ticker: $REAP Blockchain Network: Sui network Token Supply: 800,000,000 Project Valuation: $10.4M Initial Market Cap: $491,400 SuiPad Platform Raise: $200,000 IDO Date: 7 August 2023, 11am utc Cex listing date: 10 August 2023, 11am utc IDO Vesting: 20% at TGE, 90 days cliff, 20% quarterly

2. Project Overview

Releap Protocol The Releap Protocol targets a variety of Web3 projects that can build applications on the Protocol, taking advantage of our open social graph.

(a) Web3 projects We are well integrated into the Sui ecosystem through a variety of strategic partnerships and are looking to onboard more. With the addition of signaling on the protocol, users can showcase their confidence in an application by minting signals for an application. Applications benefit from the endorsement and reward signalers accordingly.

(b) Web3 users Although our project is native to Sui, users of Releap Protocol will not be limited to the Sui ecosystem. Our choice to deploy on Sui is a purely technical one, since the chain itself presents the ideal architecture for building a composable social graph that enables true ownership of content by creators and users. The section below outlines our strategy:

Metamask integration

There are more than 21 million monthly active users of Metamask. Furthermore, most web3 users own a Metamask wallet. Therefore it is imperative that we integrate with Metamask to maximize the Total Addressable Market of web3 users.

Releap App The Releap App serves as a new-age social networking platform that ensures that creators and users retain full ownership of their content and interaction with consumers.

(a) Content creators Quality of content on the platform is a focus for Releap. As such, we are in talks with prominent creators to increase the variety of content on Releap. We are also creating incentives to encourage more community generated content on the platform, and working a mechanism that rewards high quality content that is shared on our platform.

(b) Badges for partnerships Our initial focus is onboarding active projects and users on Sui. With the introduction of Badges on Releap, we are able to onboard a greater number of projects by providing a way to reward their community for performing valuable actions.

3. Project Competitive Advantages

Web2 social platforms The current social media landscape is primarily controlled by centralized Web2 corporations, mainly Meta and Twitter. These companies gather vast amounts of user data and generate billions of dollars in revenue from user-generated content. However, this model has drawbacks for both average users and professional content creators.

The rise of decentralized social media, known as Web3, is expected to disrupt this traditional model and empower users. Unlike centralized platforms like Facebook, Instagram, and Twitter, where users are subject to the policies set by company executives, Web3 platforms like Reap Protocol aim to eliminate the control of corporate bosses over user access.

One significant issue with Web2 social media is the existence of “walled gardens”. For instance, if you have one million followers on Instagram and decide to start a YouTube account, you would have to start from scratch as your audience is tied to the individual platforms, not to you.

In contrast, Reap Protocol offers a solution by enabling users to monetize their work directly, rather than relying on advertising revenue. This incentivizes users to create high-quality content. Users have the ability to set fees for others to access their posts or to follow them. As a result, the revenue generated flows directly to the creators, bypassing the platform's control.

Lens Protocol Lens Protocol's choice to build on Polygon introduces several critical issues that can be detrimental to their user acquisition and scalability:

On Polygon, sponsored transactions are not native, which means any on-chain activity requires the initiator to pay a gas fee. In contrast, Reap Protocol Apps can subsidize social activities within their platform. This ability to offer sponsored transactions becomes a compelling competitive advantage for Apps built on Reap compared to Lens.

Additionally, due to Polygon’s architecture, Post NFTs on Lens have joint ownership between the creator’s address and the smart contract responsible for its creation. In contrast, Content Objects on Reap are exclusively owned by the Profile NFT that created them. This means that the Content creator, through their Profile NFT, has complete ownership of the Content and can sell the ownership by transferring the Profile NFT. This clear distinction in Content ownership aligns with content creators' preferences regarding their content.

Furthermore, Post NFTs on Polygon store content on centralized servers, whereas the metadata of Content Objects on Reap is stored on the Sui blockchain. This decentralization of content metadata makes it less susceptible to arbitrary censorship, providing content creators with more control and ownership over their creations.

Overall, these factors highlight the advantages of Releap Protocol over Lens Protocol in terms of user experience, content ownership, and censorship resistance.

4. Releap Revenue Streams

(1) Transaction Fees Apps and Curation nodes built on the Releap Protocol receive a portion of the Protocol’s fees depending on the amount of $REAP tokens staked in their respective $REAP staking pools. This staking process, also referred to as Signaling, rewards Apps / Curators that generate exceptional content.

As the Releap ecosystem expands and more Apps join, there will be a growing demand for the $REAP token. In response to this increased demand for App Signaling, Releap will earn a cut of the tokens staked.

(2) API subscription Our ready-to-use API empowers developers to effortlessly build their own Apps without the need for backend deployment. As mentioned earlier, developing Releap Apps is far less demanding in terms of resources compared to traditional social apps that rely on a backend.

During the initial stages of the Releap ecosystem, we will provide our API free of charge to Apps that join and develop on our platform. As the ecosystem evolves, we will gradually introduce monetization for our API by implementing a freemium model. This means that once the number of users exceeds a specific threshold, Apps will be billed a monthly subscription fee for API use.

Additionally, we have secured an agreement with bWebs to develop a Wix and WordPress plugin. This plugin will enable developers to create their own web3 social apps effortlessly. As part of this collaboration, a portion of the plugin subscription sales will be shared with the Releap Foundation.

(3) Banner Ads Releap will enable users to bid for ad space on the Releap platform. These ads are designed to be non intrusive to the users. Ad space can only be acquired with the $REAP token, the majority of which is burnt and a portion of it is given to the Releap Foundation.

5. Releap Product Dive

Our ecosystem consists of 4 core products: Releap Social Graph Releap Signaling Releap Profiles (.reep) Releap App

(1) Releap Social Graph Social graphs consist of millions of users across the world, yet existing Web2 social graphs are incredibly centralized, defeating the purpose of this immensely powerful network of people. Creators cannot control, move or harness these social graphs outside of the singular network on which they publish content. This greatly diminishes the essence of these connections and undercuts the creators because of whom they exist.

We’re building the Releap protocol to work as a communal social blueprint where users can own their individual connections and various Apps can build upon this blueprint. This solves mainly two problems: (a) users can own, move and utilize their social connections across a variety of applications throughout the chain and (b) social applications can co-exist and take advantage of a collaborative database allowing them to focus on building for innovative and niche use cases.

Releap protocol offers a solution by providing a user-owned, open social graph that can be used by any application. Since users own their data, they can bring it to any application that uses the Releap protocol. Creators no longer need to worry about losing their content, audience, and income due to the policies and algorithms of a specific platform. Moreover, each application that uses the Releap protocol benefits the entire ecosystem, turning the zero-sum game into a collaborative one.

(2) Releap Signaling With Signaling users can interact on a deeper level with applications on the protocol. We aim to create a self-sustaining model where users on the platform engage in the popularity or performance of applications. As such, users can signal on their favorite applications and mint a share in these applications. These signalers are, in turn, rewarded by the application. The greater the signals on an application, the greater its visibility to users on the protocol.

With this model, users can help promote their favorite applications, benefit from its performance and encourage better quality of applications on the platform.

(3) Releap Profiles Releap protocol's primary component is the Profile NFT, which grants control over your content. Profile NFTs are owned by individual addresses, and a single address can possess multiple Profile NFTs. What sets the Releap Profile NFT apart from other on-chain identities is its ability to publish content. Profiles store all of your posts, reposts, comments, and other generated content. These profiles are also required for users to interact with applications on the protocol.

(4) Releap App The Releap app is currently the biggest app on the Releap Protocol. The Releap app brings together all that Web3 Social has to offer through one easy-to-use app. Users can engage with their favorite creators, publish content, connect their NFT’s, earn rewards and more.

Releap Badges Projects can reward community members and increase engagement using Releap’s On-Chain Credential (OCC) module. They can attract targeted audiences by utilizing digital credentials in combination with the airdrop module.

6. Releap Marketing Plan

Releap Protocol The Releap Protocol targets a variety of Web3 projects that can build applications on the Protocol, taking advantage of our open social graph.

Web3 projects We are well integrated into the Sui ecosystem through a variety of strategic partnerships and are looking to onboard more. With the addition of signaling on the protocol, users can showcase their confidence in an application by minting signals for an application. Applications benefit from the endorsement and reward Signalers accordingly.

Web3 users Although our project is native to Sui, users of Releap Protocol will not be limited to the Sui ecosystem. Our choice to deploy on Sui is a purely technical one, since the chain itself presents the ideal architecture for building a composable social graph that enables true ownership of content by creators and users.

Metamask integration Releap Protocol will soon be integrating with Metamask allowing their 21 million active users to utilize the Protocol and all the associated applications.

Releap App The Releap App serves as a new-age social networking platform that ensures and users retain full ownership of their content and interaction with consumers.

Content creators Quality of content on the platform is a focus for Releap. As such, we are in talks with prominent creators to increase the variety of content on Releap. We are also creating incentives to encourage more community generated content on the platform, and working a mechanism that rewards high quality content that is shared on our platform.

Badges for partnerships Our initial focus is onboarding active projects and users on Sui. With the introduction of Badges on Releap, we are able to onboard a greater number of projects by providing a way to reward their community for performing valuable actions.

7. Technologies Adopted

Sui blockchain The basic unit of storage in Sui is an object. In contrast to many other blockchains where storage is centered around accounts and each account contains a key-value store, Sui's storage is centered around objects. In other blockchains, every object is shared. However, Sui programmers often have the choice to implement a particular use-case using shared objects, owned objects, or a combination. This choice can have implications for performance, security, and implementation complexity. The best way to understand these tradeoffs is to look at a few examples of use-cases implemented both ways: Sui Move Object: typed data governed by a particular Sui Move module from a Sui Move package. Each object value is a struct with fields that can contain primitive types (e.g. integers, addresses), other objects, and non-object structs. Each object value is mutable and owned by an address at the time of its creation, but can subsequently be frozen and become permanently immutable, or be shared and thus become accessible by other addresses. Every object has an owner field that indicates how this object is being owned. The ownership dictates how an object can be used in transactions. Instead of being owned by a shared address, each Content NFT is owned directly by a Profile NFT. An object can be owned by another object. It's important to distinguish this direct ownership from object wrapping. An object can be wrapped/embedded in another object when you have a field of one object's struct definition to be another object type

Smart contract modules Sui Move Package: a set of Sui Move bytecode modules. Each module has a name that's unique within the package. The combination of the package ID and the name of a module uniquely identifies the module. When you publish smart contracts to Sui, a package is the unit of publishing. Once a package object is published, it is immutable and can never be changed or removed. A package object can depend on other package objects that were previously published to the Sui ledger. Maximizes composability

On-chain file storage Releap protocol uses Arweave and IPFS to store the data on the protocol to ensure that users’ content is safely stored on-chain. Arweave is a permanent storage protocol that offers an affordable solution for decentralized, permanent storage of data on-chain. Along with the use of IPFS, this allows content on Releap to be safely and efficiently stored and distributed.

Indexer built with Rust We built a custom indexer that allows us to quickly index and organize content that is created on the Releap protocol. This enables developers building on our protocol to read data on chain with minimum configurations needed.

Sponsored transactions We are building a custom module that allows us to cover fees which would otherwise need to be covered by the end user on the platform