Clout is a blockchain-based platform found online at Clout.io. Find out how the platform plans to promote the growth of crypto communities today in our review.
What Is Clout?
Clout is an informational website dedicated to providing users with news and info about the fast-growing world of cryptocurrencies.
The core feature of the platform is a social media interface that uses user-generated content. The platform also offers additional functionalities – like monetized rewards for users in exchange for interactions with the community.
Overall, Clout is similar to Steemit in that it’s a social platform where users are rewarded with cryptocurrencies in exchange for producing or sharing content.
How Does Clout Work?
Clout hosts a wide variety of news articles about blockchain technology and cryptocurrencies. Some of the latest articles on the website cover crypto investments and details about upcoming ICOs, for example.
Obviously, there are plenty of bitcoin news websites out there. So what makes Clout different? Here’s how they explain their unique selling feature:
“For the first time, influential members of the cryptocurrency community will be acknowledged in CLOUTs “Who's Who” section, giving them the recognition they deserve for their positive contributions to the community.”
How do you know you can trust an industry expert to provide fair, intelligent analysis? He or she will be listed on Clout.
Clout is built on the Ethereum network. The platform has two native tokens, including the CLOUT token and a daughter token called CLC. CLC powers the network. Members can use CLC, and be rewarded with CLC for their interactions within the Clout network.
Users can earn CLC by creating content, for example, or for sharing a quality post created by another member. CLC is also earned by “upvoting” quality posts or leaving quality comments on existing posts – similar to how Steemit’s content sharing mechanism works.
With Clout, both the content creator and the content sharer are rewarded for their contributions. Each and every member of CLOUT is incentivized to monitor the space for quality information.
A total of 100 million CLOUT tokens have already been created. One tenth of the total CLOUD Tokens are being sold during the ICO. Clout will periodically release CLOUT tokens every year for the next 5 years. This is designed to enhance the longevity of the project while also ensuring that current token holders can hold onto a profitable asset as time passes.
CLC is not released during an ICO. CLC is generated when you hold CLOUT tokens in your wallet. All CLOUD tokens purchased during the ICO will receive accompanying CLC on a ratio of 1:1. After the initial disbursement to ICO participants, CLC will generate on a staggered release schedule. For the first year after the CLOUT ICO, for example, 1 CLOUT token will generate 1 CLC per year. The next year, 1 CLOUT token will generate 1 CLC every two years. This process will continue until 1 billion total CLC are generated.
CLOUT tokens are designed to create three additional revenue streams for token holders, including the ability to:
- Generate CLC systematically, using the process we mentioned above
- Earn a proportional share of 2% of total advertising revenue generated by the CLOUT platform
- Receive referral CLC when you refer a new user to Clout through the referral program
CLOUT, like any digital token, will also be available to trade on an exchange.
Both CLOUT tokens and CLCs are based on the ERC223 standard (ERC223 is backwards compatible with ERC20 functions and contracts).
The CLOUT ICO
The CLOUT ICO is scheduled to begin on October 27. A pre-ICO is available earlier in the month for accredited investors and those who are willing to invest a larger amount. The pre-sale is open to anyone with a minimum buy of 10 ETH or 1 BTC.
100 million tokens will be released throughout the 2017 ICO (remember, the company is holding an annual ICO for its tokens). 3 million tokens (3%) will be distributed during the pre-ICO at $1 per CLOUT. 4 million tokens (4%) will be distributed during the phase 1 ICO at $2.50 per CLOUT. 2 million tokens (2%) will be distributed during the Phase 2 ICO at $5 per CLOUT, and 1 million tokens (1%) will be distributed during the Phase 3 ICO at $10 per CLOUT.
A second allocation of 70 million tokens will take place, where 50 million tokens (50% will be distributed to the CLOUT network), 10 million tokens (10%) will be vaulted in cold storage, and 10 million tokens (10%) will be used to motivate CLOUT developers and executives.
A third allocation will take place involving 20 million tokens. 10 million tokens (10%) will be locked in cold storage only to be released via smart contract. 2 million tokens (10%) will be released every year over the next 5 years, based on certain CLOUT roadmap milestones.
Who’s Behind Clout?
Clout is led by founder and president Sean Kirtz, co-founder and vice president Frank Lucido, co-founder and COO Dean James, and co-founder and design lead Simon Josef. There’s also David Cohen (CEO), Ryan Fugger (Chief Advisor), Serge Nikitin (CFO), and Andrew Zubko (Blockchain Developer).
Kirtz is a fintech solution architect and entrepreneur who also founded XWS, a DevOps mobile and web company.
Overall, Clout aims to become the standard in quality for everything related to crypto, including news, media, and investments. It seems very similar to Steemit. With Clout, users earn rewards for creating content or sharing content. You can also earn rewards for referring users to the platform.
To learn more about Clout, or to participate in the crowdsale taking place throughout October and November, visit online today at Clout.io