Personally, I believe that currency-based social media detract from the value of a social media.

Advertising revenue pays creators, this exchange has developed over a long time and in my opinion, it is quite efficient, creators have an audience and advertisers want an audience, it's a simple exchange of supply and demand. When you look at currency based social media we can see a very different exchange, we remove advertisers from the equation, creators still have an audience but it's the audience generating the value and the pay for the creator, we've removed the filter of advertiser discrimination which in turn does create more free speech, but has the downside of giving people a more nefarious motivation - gaming a social media for monetary gain.

Gaming social medias is not a new idea, and it does happen with more traditional advertiser based social medias, but in creating a currency based social media we lower that barrier to entry, suddenly there is an open market for anyone to attempt to generate revenue, this changes how people act on social media, the benefit of social media is that we have a platform for 'free' speech, but with a currency based social media we degrade further into an echochamber, with everyone wanting to generate revenue and therefore parroting popular opinions that they know will gain views, upvotes and interactions.

"In order to avoid an echo-chamber effect popular opinions should be worth the same as unpopular ones"

The idea presented above reflects what I've been saying so far, but it creates another issue: What separates an unpopular opinion with a hateful or damaging opinion? This may seem an easy problem, but how do you approach it as a platform? do you add global moderators? do you allow a voting system? do you have a threshold of reports on a post before it gets automatically removed? These are all ways you could solve it but the issue does remain that people will treat the feature like a downvote and further an echo-chamber of opinions.

For all the reasons above I believe that while a unique and powerful way to approach monetizing social media for creators and the platform, it is fundamentally flawed. The reasons above is why Twitter is popular, you can only have positive interactions and the amount of positive reactions an individual tweet has does not overall significantly affect the monetization of that particular user (within a certain threshold).