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My SocialFi Experiment (3 Years Too Early)

I didn’t invent SocialFi. But I prototyped it before the term existed.

Eric P. Rhodes

Eric P. Rhodes

In 2020, I launched a token called $TATR. It was a social currency designed to reward people not for staking capital but for sharing digital art.

We called the mechanism Social Liquidity Mining (SLM).

The idea was simple: reward people who spread value, not hoard it.

At the time, it felt experimental. In hindsight, it looks inevitable.


What I Built

$TATR was a token distributed through SLM. It was an early attempt to design tokenized incentives for cultural engagement.

  • You could only earn $TATR by gifting “The People’s Potato” NFT to someone who had never owned one.

  • Both sender and receiver were rewarded, but only if it was a first-time interaction.

  • The protocol included a reward split, anti-gaming mechanics, and a Social Distribution Score (SDS) model to measure organic behavior.

In total, 695,000 tokens were distributed.

A provisional patent was filed, then later abandoned in favor of an open-source, protocol-first ethos.

The contract was later renounced. 90% of supply burned.


What I Got Right

☑️ Social tokens are better earned than bought
$TATR wasn’t just airdropped. They were unlocked through interaction.

☑️ Distribution > Scarcity
I designed the protocol to incentivize sharing, not hoarding.

☑️ NFTs as community bridges
Each Potato was a conversation starter, not just a collectible.

☑️ Decentralized Patreon was coming
Anticipated token-based membership before it hit mainstream Web3.


What I Got Wrong

🚫 I underestimated gas friction
Airdropping rewards became too expensive to scale on Ethereum at the time. L2s like Base and Optimism eventually solved this, but the timing was off.

🚫 I got claiming wrong
I assumed no one would want to bother. But the opposite happened. Claiming became the new like button. A small hit of validation and control.

🚫 I thought protocol-first was enough
I believed Social Liquidity Mining could thrive at first without a platform. Technically it did. But in hindsight, platforms create social gravity. Protocols still need places to gather.


Why It Still Matters

I walked away from $TATR in 2022. Not because the idea was wrong, but because the space wasn’t ready.

In 2021, I filed a provisional patent for Social Liquidity Mining. It was a protocol designed to reward peer-to-peer participation through NFT distribution, token incentives, and anti-gaming mechanics.

Today, that thinking is everywhere.

Every week, I see platforms rolling out features first explored through Social Liquidity Mining. Peer-to-peer distribution. Earned rewards. Social scoring. Cultural tokens with no roadmap but the people holding them. Platforms like Farcaster, friend.tech, and Stack are exploring patterns I tested in 2020.

The protocol may be dormant, but the ideas are alive. They’ve shaped how I think about engagement, coordination, and what meaningful participation looks like in Web3.

This was not just an experiment. It was a signal.

🏛 Explore the $TATR archive
🧠 Let’s talk on X or LinkedIn

Collect this post as an NFT.

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Commented 5 days ago

Exploring the journey of $TATR, a social currency from 2020 that awarded individuals for sharing digital art through Social Liquidity Mining. Reflecting on lessons learned, it's clear that designing incentives for community engagement continues to influence Web3 today. Author: @epr.

My SocialFi Experiment (3 Years Too Early)