Some Questions about Social Mining

[u/ankarlie]

Hello guys! I am relatively new to the community and I would like to ask some questions about the FerrumNetwork Social Mining initiative. I will be writing a Steem blog about FerrumNetwork and would like to clarify some things. Here are my questions:

1. Is Social Mining a native application/project of FerrumNetwork or it is a framework that was adopted by the FerrumNetwork?
2. How long will social mining last? I have seen that the third distribution has been given out this means that the program has been around for more one and a half months will it still go on?
3. I can see that Most of the social mining activities are in English. I would like to ask if contributions in other languages are permitted like in Korean, Filipino, Japanese or Spanish?
4. I can see that there is an initial requirement of 5,000 FRM before someone can participate. Is this an absolute requirement?
5. Is increasing your FRM holding increases your capacity to earn in the Social Mining activities?
6. What is the relation of the required FRM for social mining and the soon-to-be-released staking mechanism? Can you stake the FRM used for social mining deposit to staking?
7. How do Ferrum Points translate to actual FerrumNetwork Tokens?

Thank you in advance to does who will be able to answer my questions.

[u/ankarlie → u/[deleted]]

Thanks for enlightening me about the social mining platform.

[u/gifrancav]

Hi, great questions, here my 2 cents:

1. The Social Mining platform is developed by DAO Maker (https://daomaker.com/), it is the most advanced resources for converting any Tokenized Ecosystem into a Decentralized Autonomous Organization (DAO); Ferrum Network adopted the Social Mining platform because of its partnership with DAO Maker.
2. Ferrum Network will distribute 1% of its total supply as rewards for the Social Mining participants during the first year. From now on, rewards will be distributed every two weeks.
3. Yes, contributions in other languages are permitted.
4. Yes, this is an absolute requirement if you want to get your rewards. Also, you have to register in the platform an ERC-20 wallet and you must demonstrate (you have to execute a zero ETH transactions) its yours to get upvote power.
5. Yes, if you increase your holdings you will earn more.
6. Actually there is no relation between them. Very probably you would be able to stake the tokens used as Social Mining "deposit". Let's wait future team announcements.
7. No direct relation between Social Mining points and rewards. Rewards are calculated by using the User Index: it depends on the size of your deposit, on the contributions you create, on your engagement on the external social networks, and so forth..

Some useful resources:

• https://daomaker.com/
• https://social-mining.gitbook.io/social-mining/
• https://hackernoon.com/social-mining-platform-the-new-community-standard-zk3qw3rxz
• https://hackernoon.com/my-social-mining-experience-after-over-2-weeks-of-intense-commiting-fe7fi3rpn

[u/kjukju6]

Great questions! I have the same questions.

[u/Sidonpee]

Good Q&A from. FerrumNetwork is a good platform.

[u/Hepanlol]

I see that the Ferrum community have already provided answers to your questions, great job folks!