After 2020, the mobile mining model began to be gradually built into a variety of ecosystems and models. Thanks to DeFi, the word "Fi" in SocialFi has shifted more from the word "Finance" to "DeFi." The social token circuit is still gaining traction, with current top-ranked, mainstream SocialFi concepts like Whale, Chilliz, Rally, Fyooz, Zora, and others.
August 17, 2021
On August 17, 2021, the Social DeFi Alliance was founded, Among them are Mask Network Polygon, SushiSwap, QuickSwap, Gitcoin and a number of dapps with strong social attributes developed based on Mask. According to official information, The main objectives of the alliance are to launch more social DeFi projects suitable for social network users, promote the connection between Web2.0 and Web3.0, guide more users of Internet social platforms to access DeFi, and promote the large-scale application of Web3.0, etc.
In 2017, a large number of blockchain + social oriented projects have emerged in batches. ONO, QunQun, GSC, YeeCall, NRC, SwagChain, Huoxin and TTC Protocol have been launched successively. However, due to the early market environment at that time, the limited number of participating users, the limitations of the ecological model and other problems, most of the projects have disappeared. Rational voices in the market believe that most of the projects developed earlier have immature economic models and are not competitive.