RSS3 Considering Proposal To Token-gate Its Service For Developers

Jan 13, 2023

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RSS3 Considering Proposal To Token-gate Its Service For Developers

Originally posted here.
By: Adeola

Overview

Developers who use huge amount of RSS3 Web3 data feed could be required to pay to access the service if the proposal is adopted, Joshua Meteora, its founder said in a new year address to the community. Implementing this operation will involve an API upgrade with address-oriented stats and token-gated mechanisms, Meteora said, adding that […]

The Post

Developers who use huge amount of RSS3 Web3 data feed could be required to pay to access the service if the proposal is adopted, Joshua Meteora, its founder said in a new year address to the community.

Implementing this operation will involve an API upgrade with address-oriented stats and token-gated mechanisms, Meteora said, adding that the firm had kept access to their service open for free.

“In the new year, we plan to implement a new API logic that results in we know how much you are using, we know how much you are paying, we don’t know who you are  (similar to how bitcoin handles transactions),” Meteora said in the address.

However, Meteora told Arweave News that RSS3 service will be kept free for regular users while some developers would pay.

It’s a proposal where developers that use a huge amount of data will need to stake or pay with probably tokens, he told Arweave News.

The project, according to Meteora had a total of over 1.4 billion requests in 2022 with a 20,000% increase in monthly API usage amounting to about 400 million requests in December 2022 compared to 2 million requests in December 2021. Its network efficiency improved following its evolution from Prenode to PreGod.

Other plans for 2023 include rebranding to position RSS3 to support future project and reforming its tokenomics as it strives to be the first global search engine for Web3, the project aims to build on some of the successes it recorded in 2022. Meteora said RSS3 will be supporting Non-EVM chains and other open social protocols, improving the efficiency of information flow and taking steps to become more decentralised.

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