Panjea, a blockchain-based content network, has officially announced that they have joined Aleph Zero's Ecosystem Funding Program (EFP), which was done on a Twitter/X space, to further the developments of their Web3 social media platform and in hopes to revolutionise the SocialFi space. But what does this all entail, and how will the Panjea team benefit from this program? Well in this short article, I'll go over these things and explain how Panjea stands to benefit from all of this.
If you don't know what Panjea is, I highly recommend you look into the article where I first talked about them: here. In short, Panjea is a blockchain-based content/social media network that is free from centralised control and puts the power back to the community, removes the need for algorithms to control the flow of content on the network, mitigates the bot and bot attack problem via their innovative KYC system called Proof-of-Life (PoL), rewards creators and curators fairly via a daily rewards pool, and much more.
With Panjea joining Aleph Zero's EFP, the team can expect to gain access to a wide range of benefits for them to utilise, such as getting a grant from the Aleph Zero foundation, access to VC and angel investors, code audits for their smart contracts and for the platform itself, having marketing support, access to infrastructure resources, and so on.
One of the many reasons why Panjea chose to build on Aleph Zero and make it their parent blockchain is, to quote Lee Kerr (Panjea’s Web3 lead) from the EFP announcement:
“Aleph Zero’s high throughput, low cost and enterprise-ready public blockchain made it the perfect platform on which to build a thriving content creator network. With the combination of ZK-Proofs and secure multiparty computation for enhanced privacy, it enables us to implement our unique KYC Proof of Life (POL) functionality which will in turn keep our user base safe and bot resistant.”
On top of this, Kieron Bain (Panjea’s commercial lead) included his own words for this strategic move to build on Aleph Zero:
“It is not only the technology behind Aleph Zero that has impressed us. The foundation has a strong community base, full of active, engaged members who have made us feel welcome, showing a huge interest and enthusiasm for the project. We believe that many of these advocates will go on to form our first community members, shaping the atmosphere and culture of the platform”
What was also included in the EFP announcement is that Panjea has unveiled its plans to integrate and partner with other ecosystem projects that are also building on top of Aleph Zero. One of the many projects that they've been eyeing to integrate their services onto its platform is none other than AZERO.ID. Panjea believes that the current onboarding process for these Web3 alternative social media platforms can be a hassle to fix and will take more time to be put into solving that issue rather than prioritizing developing the platform itself. Instead, the team at Panjea has plans to integrate and partner with AZERO.ID, which can provide Panjea with the technology it needs, aka on-chain domains, to ensure that the onboarding process is seamless and smooth for anyone new to the platform.
Other integrations and partnerships that the team at Panjea eventually wants to make are to integrate Interlock's ThreatSlayer into the site to protect users from malicious links as well as phishing sites, and with Common so they can get increased support when it comes to the health of their liquidity pools. These are just some of the projects they've been planning to partner with so far, but once Panjea starts to mature and has additional functions built into its platform, it'll continue to expand with other partnerships and integrations with other ecosystem projects that can add more value to the platform.
Overall, Panjea stands to benefit massively from being accepted into Aleph Zero’s EFP as it marks a new chapter for the development of the platform. The team has also expressed their belief that this can help bring in that missing mass adoption into Web3 and SocialFi, and bring in new users to Aleph Zero itself along with the creation of more wallets.
Comments