Since we spend every day with customer support and answer countless questions from our community, we decided to collect all the frequently asked questions and create a FAQ post.
How does APPICS work? Where does the money come from? What can you do with your earned XAP? And how can you earn more with our Bounty Program?
Get answers to all of these questions below!
APPICS - THE APP 📲
How does APPICS work? Where does the money come from?
The underlying technology of APPICS works just like Steemit.
Through the revolutionary concept of turning "likes" into currency with blockchain technology, every user can benefit from a reward pool that the blockchain distributes.
Other people can upvote this content - and the larger their amount of APPICS Power (XAP in their account), the larger the weight of their vote.
Think of Bitcoin Mining: instead of computers, the network rewards the users for their effort and creativity spent online. Therefore, every user becomes a "human mining machine" - hence the name "Proof of Brain" algorithm, on which APPICS is based on.
When will the APPICS App launch publicly ?
The full rollout is planned for late 2018 .
But this also depends on the development of the SMT (smart media token) protocol, which is managed by the STEEM Team.
When can early Investors join the App?
Currently, our iOS App is available to team members and early investors. We will gradually add more and more people. You can register here for the wait list.
The Android app is also functional already and is currently being tested internally, before going public soon.
What differentiates APPICS from other Social Media Platforms? What are the main features?
Apart from obviously earning cryptocurrency for social media activity - what makes APPICS different from other social media platforms?
There are several differences - we offer our users an integrated wallet where you can send money anywhere in seconds, a chronologic feed without algorithms, an integrated shop system, we have active communities without depending on advertisement, and we have directors for each of our content categories who filter and reward quality content.
Main features of the APPICS App
APPICS - THE TECHNOLOGY & CURRENCY ⛓💸
What Blockchain is APPICS based on? How does it work?
APPICS is one of the first Smart Media Tokens (SMT) on the STEEM Blockchain.
An SMT is a native digital asset on the Steem blockchain that can be quickly launched by anyone to help monetize online content - especially practical in the social media space.
"They're like Ethereum's ERC-20 tokens, but with certain built-in ‘Proof-of-Brain’ properties and a token distribution reward system designed specifically for digital content businesses."
You can read more about the SMT protocol here.
The ICO is over! How can I get XAP? When does it hit exchanges?
Our Tokensale ended in April - so once XAP gets listed on the exchanges, users will be able to purchase XAP tokens globally.
The exact date when XAP will hit exchanges depends on the release of the SMT (Smart media token) protocol, which is managed by the STEEM team.
When is the token swap ?
Currently, all Investors received ERC20 tokens which are frozen in their wallets.
This is because once the SMT (Smart media token) protocol has finished development, we will do a Token Swap. This means that all ERC20-based XAP tokens will then be switched to freely tradeable SMT-based XAP tokens in a 1:1 ratio.
What can you do with your XAP coins ?
There are several ways to use your earned XAP coins:
- Keep them in your wallet and let them grow to increase your influence on the platform, boost the visibility of your posts, and to let the value of the tokens rise.
- Cash them out and exchange them for any other currency - whether it's cryptocurrency or FIAT (Euro, Dollar, Yen etc)
- Directly transfer them to another APPICS user within seconds
- Spend them in our integrated shop system
- Donate them to your favorite charity on APPICS
How much is 1 XAP worth?
Currently, 1 XAP token is valued at $0,15.
This was the last sell price at our ICO earlier this year, and will be the start price once XAP hits exchanges.
APPICS - BOUNTY PROGRAM 💰
What is the APPICS Bounty program?
You can register at www.ico.appics.com and participate in our diferent bounty campaigns and earn free XAP.
With every follow, like, comment and repost - Stakes will be distributed automatically to your APPICS account. We also have SPECIAL BOUNTY programs where users can earn stakes by for example writing a blogpost about APPICS on Medium, Steemit or Facebook to name a few. These claims will be reviewed manually!
What do the Bounty stakes mean?
The stakes represent a certain number of XAP that will be awarded for each task within the Bounty Program.
We have a set number of XAP tokens for the bounty program, so depending on the activity, the exact amount of stakes for 1 XAP will be revealed.
Once the Bounty Program has ended, all activity will be checked and the ratio of stakes to XAP will be calculated.
When does the Bounty Program end ?
Our Bounty program will keep running until later this year, to support the engagement of our community until the full rollout.
Do you need to submit KYC in order to join the Bounty Program?
No. KYC was only needed for our ICO investors.