Gate.io AMA with Typelt-To Earn Passive Income by Conducting Day-to-Day Typing
Time: Aug 21st, 2023 at 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Patrick, Advisor of Typelt in the Twitter Space.
Official Website: https://www.typeit.net/
Twitter: https://twitter.com/typeit_
Follow Typelt on Twitter and Telegram
Guest
Patrick — Advisor of Typelt
Q&A from Gate.io
Q1: Please introduce TypeIt
Patrick: Hello everyone, I am Patrick.
TypeIt is a Web3 keyboard that allows you to earn rewards through “Type to Earn,” which means you can earn income by typing. In addition to this, it incorporates elements of social interaction and gaming. When it comes to privacy, all input data is encrypted and stored locally.
Currently, both our tokens and NFTs are live, utilizing a dual-token model. We have two types of tokens and two categories of NFTs that interact and circulate within the ecosystem, maintaining a positive balance through features like token burning and NFT minting.
Moreover, we have established partnerships with various companies, including today’s collaborator Gate.io, as well as RelationLabs, Manta Network, Soully, and more.
At its core, TypeIt aims to be a central hub within the Web3 ecosystem. It leverages the traditional tool of a keyboard keyboard to serve as a gateway for users to enter the Web3 world. This way, users can seamlessly adapt to the new Web3 landscape and enjoy the benefits of Web3 and the digital economy.
Q2: How does TypeIt protect user privacy?
Patrick: For TypeIt, user privacy and data security are incredibly sensitive areas and among our top priorities.
First and foremost, at TypeIt, all user input data remains offline and is encrypted locally, meaning none of the data is transmitted over the internet. Those interested can independently verify this through tools.
In this regard, we are actively exploring more transparent approaches to help users understand our privacy practices. These might include methods like Zero-Knowledge Proofs (ZK), audits, and open sourcing.
Additionally, in terms of user experience, we encrypt all imported wallet private keys locally. Users are required to input their payment passwords to initiate exports, thus safeguarding against potential losses due to device compromise.
Regarding the clipboard within the keyboard, we offer functional buttons that enable users to toggle clipboard access on or off.
Simultaneously, we are in the process of collaborating with security firms to leverage the keyboard platform, offering users guidance on recognizing phishing scams, fraudulent activities, and other potential threats to prevent any loss of assets.
These efforts reflect our commitment to ensuring the utmost privacy and security for our users’ data and interactions.
Q3: Could you elaborate on how TypeIt integrates blockchain technology into its functionality and user experience?
Patrick: Currently, we have already implemented several blockchain-based features within our ecosystem.
For instance, our blockchain wallet enables decentralized login, and we’re planning to further enhance this with account abstraction capabilities. This will include utilizing Multi-Party Computation (MPC) for features like keyless authentication and social recovery.
Furthermore, all of our data is locally encrypted. In the future, we’re exploring partnerships with services like Manta, which offers zk zero-knowledge proof functionality. This will enable us to leverage zk technology to enhance the security of our encrypted data.
zk technology also offers verification capabilities. This will allow us to introduce a shared vocabulary library, where users can create their own dictionaries and encrypt them using zk proofs. Through protocols like IPFS and AR, we can achieve decentralized storage and sharing.
In addition to these features, as mentioned earlier, Socialfi, Gamefi, and collaborations like our partnership with Soully for introducing DID functionality are all part of our blockchain-based implementations.
TypeIt is committed to leveraging blockchain technology to enhance security, privacy, and user experience while introducing innovative and engaging features to our community.
Q4: What milestone data can TypeIt share?
Patrick: Firstly, during our internal testing phase, we received support and feedback from over 2,000 individuals in our initial community.
Secondly, upon the official launch of our TYPE token through the Launchpad, we garnered support from over 5,200 individuals, totaling $12 million in funding.
On another note, here are some key data points we’d like to share:
Our community currently spans major regions in Asia and the Americas, with a community size exceeding 30,000 members. We’ve accumulated around 35,000 users overall, and our daily active user count consistently remains above 10,000.
Regarding our NFTs, we’ve conducted a total of 5 rounds of sales, with the latest round concluding just last week, resulting in the sale of approximately 50,000 blind boxes.
Furthermore, upon our initial launch, specifically on the NFT section of the BNB Chain, we achieved a top 5 ranking for gas consumption and successfully secured a Gas Grant from the BNB Chain.
At present, as our NFTs and tokens are consumed through upgrades, we have destroyed over 7 million TYPE tokens, which equates to more than $1.54 million, and this number continues to grow. We welcome everyone to stay tuned for further updates.
Q5: What is the tokenomic model of TypeIt?
Patrick: Our tokens are primarily divided into two categories: the utility token WORD and the governance token TYPE, both with a total supply of 1 billion each.
50% of the TYPE tokens will be allocated to typist rewards and will undergo a reduction in yield every 30 days, with future adjustments being determined through community governance.
Next is the WORD token, which is exclusively generated through the Type to Earn mechanism, providing a fixed daily quantity. Similar to TYPE, its yield will decrease every 30 days.
Earnings from each NFT are distributed based on their computational power proportion. There are two types of NFTs: red and blue, each with a maximum of 5 levels.
Red NFTs consume TYPE for upgrades and maintenance while yielding WORD rewards. Blue NFTs, on the other hand, utilize WORD for upgrades and maintenance, while generating TYPE rewards.
The operation of the economic model intertwines these components, ensuring that NFTs are not just singular mining machines and that tokens don’t lose their value-capturing capability.
Furthermore, we’ve incorporated various game scenarios, such as the choice between red and blue NFTs, opting for hatching or typing, deciding on upgrades or holding a larger number of lower-level NFTs, and so forth.
Q6: How does TypeIt build its own ecology?
Patrick: Firstly, our primary external revenue stream will revolve around advertising. By incorporating external advertisements, we aim to provide users with additional income opportunities.
Leveraging the vast user base of the keyboard, advertisers can benefit from effective exposure.
Secondly, within our internal ecosystem, we plan to introduce various engaging features. This includes Socialfi and Gamefi mini-games, allowing users to earn extra rewards by participating in entertaining typing games.
Furthermore, we have the TNA (Type and Airdrop) feature, which involves collaborative skin designs. By typing with these collaborative skins, users can earn rewards from both themselves and our partnering entities.
Regarding NFT skins, we are also planning to launch a creator program in the future. This program will involve users in co-creating and integrating their designs into the broader ecosystem.
These initiatives reflect our commitment to creating a multifaceted ecosystem that provides value to both users and collaborators while maintaining a sustainable revenue model.
Q7: What are the differences between type to earn and other X2E?
Patrick: Thank you very much. As a keyboard, TypeIt sets itself apart from other X2E solutions primarily through its choice of “X” – typing – which achieves a zero-entry barrier.
Secondly, privacy protection is a paramount consideration. Input data is encrypted and stored locally, making it inaccessible to anyone else. We’ve also collaborated with Manta, a privacy modular solution provider specializing in zk technology, to address user privacy concerns. Our future plans involve leveraging zk technology for enhanced privacy solutions.
Thirdly, our economic model incorporates dual tokens and dual NFTs, coupled with consumption and hatching mechanisms, alongside a token reduction mechanism reminiscent of BTC’s. These features are meticulously designed to facilitate a sustainable loop.
Fourthly, we have an ongoing Freemint feature, allowing users to obtain a Freemint NFT by participating in official events or joining the community. This NFT provides a taste of the Type to Earn experience and can be converted into a formal NFT for increased earnings.
Lastly, compared to other offerings, TypeIt boasts a greater potential for scenarios and collaborations. For instance, our collaboration with partners has led to the introduction of co-branded NFTs. These NFTs not only yield their own rewards but also grant cooperative incentives, known as TNA (Type and Airdrop).
Thank you for the opportunity to elaborate on TypeIt’s unique attributes in the Gamefi landscape.
Q8: In the context of the evolving landscape of Web3 keyboards and increased activity, how does TypeIt position itself within this emerging sphere?
Patrick: For us, it’s our unwavering commitment to realize our vision that drives us forward. This commitment positions us as the central gateway to the Web3 world, and we’re actively working towards building a thriving Web3 ecosystem through multiple avenues.
Firstly, on the external revenue front, we will introduce external advertising to help users generate additional income. Leveraging the vast user base of our keyboard app, advertisers can achieve effective exposure.
Internally, we’ll be introducing a variety of engaging features. For instance, the “Socialfi” aspect involving encrypted chatting and the upcoming “Gamefi” mini-games will allow users to earn extra rewards by participating in entertaining typing games.
The “Type and Airdrop” (TNA) functionality, which includes collaborative skin designs, lets users earn rewards from both their own activities and those of our partners. Our recent collaboration with Bitget for our first joint skin is just the beginning, and we’ll continue to optimize and gather feedback to enhance the TNA feature.
In the realm of NFT skins, we’re planning to introduce a creator program, allowing users to collaboratively contribute to the ecosystem.
The TypeIt ecosystem broadly consists of three categories: partners, users, and creators. Partners include both paying advertisers and supportive enterprises/platforms. Users form our core foundation. Through DAOs and voting mechanisms, we aim to gradually transition decision-making power to the community, allowing them to shape the project’s direction.
In terms of activities, we’re planning to organize various engaging events. Collaborations with research institutions and authors, where content is presented as typing exercises, will provide users with both Web3 knowledge and rewards. Additionally, fun competitive games, AI-assisted content creation bonuses, encrypted privacy chats, and more are all part of our plans.
TypeIt is actively building an ecosystem, transcending its role as a mere keyboard app. We’re dedicated to creating an enriched Web3 experience, making TypeIt a comprehensive platform for users to explore and engage with the world of Web3.
Q9: What future trends or technologies do you think can help protect privacy?
Patrick: From my personal perspective and the aspects I’m focused on:
Firstly, Zero-Knowledge Proofs (zk-SNARKs) have the potential to make significant contributions to privacy, whether it’s their succinctness, zero-knowledge property, or completeness.
zk-SNARKs can verify the authenticity of a proof without revealing any detailed information supporting the statement. This aligns well with the principles of blockchain and privacy. We have previously partnered with Manta Network, a modular zk-SNARKs solution, and we will explore its applications in our keyboard and user data privacy.
For instance, in our upcoming features like shared typing articles and dictionaries, users will be able to share their exclusive dictionaries without revealing the plaintext content. They’ll only experience the prioritization of candidate words when using them.
Similarly, in our upcoming private chat feature, end-to-end encryption will be implemented. Only individuals who use the TypeIt keyboard for communication will have access to the decrypted content.
In addition to this, Secure Multi-Party Computation (MPC) could also play a significant role in privacy protection. For example, MPC wallets that are already in use could be another avenue we’re exploring.
These privacy-enhancing technologies highlight our dedication to fostering user trust and safeguarding their personal data in innovative ways.
Q10: What is TypeIt’s next plan?
Patrick: TypeIt will continue to enhance its product offerings in several areas:
- MPC / Account Abstract Wallet: We’re introducing a more convenient account abstract wallet to alleviate users’ concerns about private keys and support social logins.
- DID (Decentralized Identity): We’re collaborating with projects like Relation to incorporate decentralized identity (DID) solutions, empowering users to better protect their privacy.
- Gamefi Games and PvP Competitions: We will provide more fun through Gamefi games and PvP competitions, offering rich rewards and incentives to encourage user participation.
- Partnerships: We will strengthen collaborations with centralized exchange (CEX) platforms and Web3 products, such as renowned platforms like Gate, to deliver enhanced functionality and improved trading experiences.
In the future, users can input the name of a token within TypeIt, and the keyboard will display the corresponding price. By clicking on it, users can access relevant information, initiate learning through interactive typing, and earn rewards.
Then, utilizing the privacy chat feature within TypeIt, users can share this information with their friends. During this process, both data and privacy remain entirely under the user’s control.
These developments demonstrate our commitment to combining convenience, privacy, and engagement while enabling users to maintain control over their data and interactions.
