Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

After mostly trading sideways at the end of April 2025, a US-UK trade deal sparked a crypto rally. BTC surged past $100K for the first time since February, but it’s ETH's performance that captured the derivatives market's attention. 

A 23% increase in ETH's spot price led to an inverted term structure and a spike in front-end volatility. The put/call skew for ETH shifted from a bearish bias to a nearly 10% skew toward OTM calls. Other sentiment indicators, such as perp funding rates and futures yield, also supported the rally. In contrast, while BTC's funding rates and skew have increased, its implied volatility remains low at 40%, over 30 points below ETH's 7-day implied volatility.

Please check out the report’s highlights.

ETH’s record performance since 2021 was propelled by positive term structure

ETH has significantly outperformed BTC and the top 10 cryptocurrencies, marking its largest single-day gain since May 2021. The options market has reflected this enthusiasm, with implied volatility for short tenors rising sharply and inverting ETH’s term structure, thus contrasting with BTC's muted, positively sloped structure. The 7-day tenor for ETH is now trading at a 33-point premium over that for BTC. 

While puts dominate BTC's open interest, ETH is seeing the opposite trend. On May 8, 2025, options volumes surged over $120M, more than double the typical monthly volume, with $60M more in calls than puts. ETH now boasts a positive futures curve and funding rates, as well as a strong skew toward OTM calls.

ETH sees exceptionally bullish put/call skew

ETH's substantial outperformance in the current crypto rally has led to bullish sentiment in its derivatives markets. Funding rates have surged, futures yields are strongly positive and the put/call skew has shifted significantly toward OTM calls, now close to 10%. This starkly contrasts with early April, when the skew was 20% toward OTM puts. Although ETH has underperformed (relative to BTC and other "ETH killers"), it has rebounded in this rally, with the ETH/BTC ratio rising after spending most of the year declining.

Open interest for Bitcoin options increased, with implied volatility remaining suppressed

The announcement of the new US administration's first trade deal, nearly 30 days into Trump's 90-day tariff pause, jolted crypto markets, pushing BTC back up above $100K. Surprisingly, implied volatility has remained suppressed, failing to invert BTC's term structure, with front-end volatility trading at around an 18-month low of 35-40%. On May 8, 2025, options volumes surged, with call volume reaching $189M, reversing last week's trend of higher put volumes. Meanwhile, open interest rose steadily to exceed $300M, the highest level this month, but remains significantly larger for puts than for calls despite the price increase.

Advanced

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Bybit X Block Scholes crypto derivatives analytics report (May 9, 2025): Ether’s put/call skew turns remarkably more bullish than Bitcoin’s

This article explores how Sign works, its flagship products (such as TokenTable, SignPass and EthSign), its native token (SIGN) and how to trade SIGN on Bybit.

Sign is an omnichain attestation infrastructure that empowers users and developers to verify real-world claims on-chain. Built for a more transparent and decentralized future, it eliminates the need to “just trust” and enables everyone to verify with cryptographic proof.

This article explores how Sign works, its flagship products (such as TokenTable and EthSign), its native token (SIGN) and how to trade SIGN on Bybit.

 is an omnichain attestation protocol designed to make it easy for anyone to verify the authenticity of any claim — 

. Whether it’s a document, credential or user identity, Sign transforms traditional trust models into verifiable, cryptographic attestations. 

Sign’s mission is to replace outdated, opaque validation systems with transparent, 

 proof — enabling a future where “verify” replaces “trust.” Through tools like schema registries and digital signatures, Sign empowers users to bring accountability and integrity to digital interactions.

Sign is developed by the team behind EthSign, a 

-native e-signature and agreement platform. Its core team brings deep experience in 

 development and cross-chain integrations.

The project is backed by top-tier investors, including Sequoia Capital China (now known as HongShan Capital Group), Mirana Ventures, HashKey Capital and Hack VC.

This strategic funding positions Sign as a foundational layer in the web3 infrastructure stack.

Sign allows users to create attestations — cryptographically signed statements that prove the validity of claims, such as credentials, achievements or actions. These digital proofs can be verified by anyone at any time, making them tamperproof and transparent.

Sign’s key technical elements include a schema registry that ensures consistent data formatting, digital signatures proving authenticity, and on- and off-chain attestations with support for revocation or updates

This system acts like a programmable layer for web3, bringing a new level of trust to identity, credentials and data exchange.

TokenTable is Sign’s flagship token distribution platform. It helps projects unlock, distribute and manage tokens transparently and securely at scale.

It uses Sign’s attestation engine to verify token unlocks, 

 and vesting schedules, ensuring traceable, auditable token flows.

SignPass is a blockchain-based identity solution that brings real-world credentials on-chain. One notable implementation is the Sierra Leone PR Card, used for the world’s first government-approved on-chain permanent residency program.

SignPass offers encrypted on-chain records for easy 

 verification, physical ID issuance for daily identity use and streamlined digital application systems for cross-border access.

It showcases the way blockchain can modernize public sector services worldwide.

EthSign is a decentralized contract signing platform that lets users create, sign and store legally binding agreements directly on-chain. It removes intermediaries and ensures documents are immutable and accessible.

EthSign reinforces Sign’s mission by bringing traditional documentation into the realm of verifiable web3 attestations.

The SIGN token is the native utility token powering the Sign ecosystem. It’s used for:

The total supply is capped at 10 billion SIGN, with 1.2 billion tokens in circulation. While the fully diluted valuation (FDV) sits above $746 million as of May 7, the circulating market cap is approximately $89.6 million. SIGN continues to gain traction across exchanges and developer networks.

SIGN is available for trading on Bybit via Spot trading and as a USDT Perpetual contract. Bybit offers up to 75x leverage for the SIGNUSDT Perpetual contract and supports secure, high-liquidity spot trading.

Start exploring the future of attestations with SIGN on Bybit today.

Intermediate

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Sign (SIGN): Web3 protocol for trustless attestation

Compliant trading means following platform rules and avoiding manipulative behavior. Learn more about how you can trade responsibly and compliantly on Bybit.

Crypto trading has come a long way from what used to be the domain of institutional players, and is now open to almost anyone with an internet connection. It’s easier than ever to buy and sell digital assets, try new strategies or build a portfolio from scratch all within minutes.

But with that level of access comes responsibility. As more people join the market, the need for fairness and accountability has become even more important. This isn’t just about price charts or profits — it’s about keeping the playing field level for everyone involved.

At Bybit, we take that responsibility seriously. We're here to offer the tools, safeguards and education you need to help you trade responsibly and to protect the platform from misuse.

This article describes what it actually means to trade compliantly, why it matters — and what can happen if things go off course.

Compliant trading means playing fair, following the platform’s rules, staying within the boundaries of what’s allowed and avoiding anything that could unfairly affect the market.

It’s not about avoiding risk: it’s about knowing what you’re doing, using official tools the right way and making sure your trades aren’t causing harm to yourself or others.

In short, compliant traders don’t just focus on their P&L — they understand that how they conduct themselves while trading matters. Responsible trading protects their accounts, keeps the platform stable and builds long-term credibility in the crypto ecosystem.

Why does responsible and compliant trading matter?

It’s easy to assume that compliance is only something platforms or regulators need to worry about. But in reality, every trader plays a part. When someone attempts to exploit the system — for example, by coordinating mass trades through off-platform channels — the consequences can ripple across the entire market.

In extreme cases, irresponsible trading behavior can:

And if the trades in question are linked to coordinated action, use of fake accounts or external bots? That opens the door to account freezes, compliance reviews and, in some cases, permanent suspension.

Bybit has a responsibility to act when the system is being abused — not just for legal reasons, but in order to protect honest traders.

Common examples of noncompliant or risky behavior

Some traders join Telegram groups or online communities in which KOLs (key opinion leaders) give out coordinated trading instructions (for example, “Buy token A now, sell it in an hour”). This practice isn’t just risky: it often involves a small number of insiders benefiting while the majority end up with losses.

When many people follow the same instruction all at once, it can artificially inflate the price of a low-liquidity token. The KOLs then exit at the top —while others are left with falling prices and unexpected liquidations.

Such a textbook case of market manipulation violates our Terms of Service and, depending upon jurisdiction, could violate financial laws.

Using bots or unverified trading strategies

Some Telegram groups may seem convincing, but trades coordinated off-platform are often unverified and may serve someone else’s agenda. 

 programmed to front-run trades, mimic pump-and-dump strategies or follow unverified signals can trigger compliance red flags and may lead to account restrictions.

Bybit does not support trading bots from unverified sources. They can also trigger flags in our monitoring systems, which may result in account suspension.

Using another person’s account or sharing login credentials — even if it’s with a family member — goes against both Bybit’s policies and global 

(AML) rules. It also opens the door to fraud, loss of funds and irreversible penalties.

Tips for responsible and compliant trading on Bybit

The good news is that there’s a better way to trade — responsibly, safely and with confidence, starting with the right tools, mindset and habits.

Use copy trading the way it’s meant to be used

 is one of Bybit’s most trusted features, and for good reason. It gives users access to professional traders’ strategies while maintaining full transparency. However, it only works if you follow verified 

These traders have been vetted and their stats are fully visible. You can view their P&L, risk settings and trade history. Bybit also provides built-in tools, such as 

 and staking products allow you to earn passive yield with minimal effort. These products are fully backed by our infrastructure and undergo regular audits, and are a compliant way to generate returns without chasing risky trades.

No matter how convincing a Telegram group may sound, remember that trades executed outside of regulated channels are unverified and often unaccountable. They may be coordinated for someone else’s gain.

 offers a wide range of articles and tutorials, covering everything from indicators and oscillators to advanced portfolio strategies. Before following any external signal, it’s worth spending 10 minutes to understand the rationale behind it. In trading, knowledge is your best form of compliance. Before you enter any position, ensure that you fully understand the asset you're trading, the current market conditions and the risks involved.

, never share your login credentials, and always enable two-factor (2FA) authentication. In addition, all trading activity should originate from your own account and remain under your own control.

Bybit’s systems are designed to flag irregular behavior. If your account is found to be engaging in prohibited activity, even unintentionally, you may be:

We take these steps in order to protect the broader user base and to uphold market fairness.

Being compliant doesn’t mean missing out on opportunity. In fact, it’s the opposite. It means you’re using the platform the way it was designed, with safeguards, transparency and trust. Shortcuts might look appealing in the short term, but they rarely end well. The most successful traders on Bybit are the ones who understand risk, stay informed and trade with integrity.

Take the time to learn and use the tools available to you. And remember: protecting your account starts with choosing how you’ll trade.

Beginner

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How to trade compliantly and responsibly on Bybit

Discover how DAI evolved into USDS under the Sky protocol—unlocking passive rewards, scalability, and a new era of DeFi with Sky Token Rewards.

In September 2024, MakerDAO, a pioneering 

 (DeFi) protocol, underwent a significant transformation by rebranding itself as 

 (SKY). This rebranding was part of the project's comprehensive strategy to enhance scalability, user engagement and regulatory compliance. The major changes that came with the rebranding include token upgrades, whereby the platform’s stablecoin, Dai, was upgraded to USDS (Sky Dollar) while the 

Let’s take a deeper look at USDS and its role on the Sky platform.

USDS (United States Dollar Sky) is the upgraded version of the Dai stablecoin, launched under the newly rebranded Sky protocol (formerly MakerDAO).

 Like DAI, USDS is a decentralized, overcollateralized stablecoin designed to maintain a 1:1 peg with the US dollar.

However, USDS significantly improves scalability, user incentives and regulatory positioning, making it a next-generation solution for DeFi.

One of the standout features of USDS as a stablecoin is that it creates 

 opportunities for its investors. With USDS, you can access the Sky Savings Rate (SSR) feature, which allows you to participate in the Sky ecosystem's governance by accumulating Sky Token Rewards (STR) (presented in the form of SKY tokens).

SSR also features a variable automated token accumulation feature, whereby you receive 

 to the SSR program. This passive earning potential offers a major advantage for users seeking yield without complicated 

Sky uses a dynamic model that adds USDS to the SSR pool every few seconds. Over time, the value of sUSDS in the particular pool increases. You can then opt to redeem your sUSDS for USDS, and receive the USDS you initially supplied in addition to the USDS equivalent you’ve accumulated.

These rewards serve as an incentive mechanism, enabling users to passively grow their holdings while supporting the health and stability of the Sky ecosystem.

Upgrading from DAI to USDS is straightforward. Users can visit Sky.money and initiate the upgrade directly through a noncustodial, user-controlled process.

The platform provides a simple interface on which users connect their wallets, exchange their existing DAI for an equal amount of USDS and instantly become eligible for yield accumulation and other Sky ecosystem benefits. There are no fees for the upgrade, and users retain full control of their assets at all times.

USDS isn’t just a stablecoin; it’s an evolution of DeFi money. With passive earning through Sky Token Rewards and a smooth, secure upgrade path, USDS sets a new standard for the way decentralized stablecoins can deliver value and financial empowerment to users worldwide.

USDS and DAI are both decentralized stablecoins originally developed under the MakerDAO ecosystem (now Sky). While they share the same core principle — overcollateralization and the maintenance of a 1:1 peg with the US dollar — USDS represents a major evolution of DAI, introducing additional incentives designed to enhance user experience, scalability and regulatory alignment.

DAI has long been a favorite in the DeFi ecosystem, allowing users to generate stablecoins by locking up crypto collateral such as 

. DAI features a savings program, the DAI Savings Rate (DSR), from which people can earn 

 (sDAI). While the DSR program is still running, upgrading to USDS lets you earn two types of rewards through the SSR program: sUSDS tokens and Sky Token Rewards (STRs).

In addition, USDS is well positioned to meet regulatory requirements, aiming for broader mainstream adoption while maintaining decentralization.

Below is a comparison table between DAI and USDS:

USDS is backed by collateral that’s deposited in Sky vaults by borrowers. In return, the reserves for these vaults are backed by three main assets: 

With a market cap of over $8 billion, USDS is the currently third-largest stablecoin after 

 is more complex than that of typical stablecoins, as it includes liquidation mechanisms and a peg-stability module. However, an audit of USDS’s smart contract in September 2024 didn’t report any significant risks with the stablecoin. Notably, S&P Global Ratings 

 of 4 out of 5, indicating constrained ability to maintain its peg under certain conditions. 

​Additionally, the proposal to include a freeze function for USDS, which bestows upon the Sky protocol the power to halt USDS transfers between wallets, has sparked heated discussions within the community, highlighting the ongoing conundrum of balancing security measures with principles of decentralization.

The evolution of DAI to USDS marks a major leap forward for DeFi. By combining DAI's trusted and overcollateralized model with additional passive earning opportunities through Sky Token Rewards, USDS empowers users to enjoy greater financial benefits with less complexity.

The streamlined upgrade process and stronger regulatory positioning set the stage for broader adoption and a more resilient future. As Sky continues to build, USDS represents more than just a stablecoin — it’s the foundation of an open, accessible and more rewarding financial ecosystem for everyone.

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From DAI to USDS: Unlocking an open Sky for a more rewarding future

Bybit Learn

Crypto

Social tokens are digital tokens on a blockchain that allow creators to monetize experiences and services. Find out exactly how it works in this article.

Social tokens are building decentralized online communities where everyone benefits without a middleman. This article discusses the basics of social tokens and provides relevant examples to illustrate the concept.

Social tokens are digital tokens on a blockchain that allow creators to monetize experiences and services. The token can increase in value, and it can be resold by the token holder.

Social tokens are just like any other cryptocurrency. However, these tokens are created explicitly to empower a community and enable its community members to build a solid social bond around a specific individual or brand.

Anyone can create a social token. Whether you're an individual or a business, you can join the social token space and launch a social token to enrich the experience of your followers and clients. As more people use the token, its value will rise proportionally to the contribution of social token holders.

Unlike crypto tokens, social tokens mainly derive their value from the reputation of the content creator, and from the exclusive benefits that token holders receive in the form of engagements and experiences.

For instance, upcoming artists can launch a social token to offer a highly personalized experience to their followers. When the followers buy the token, they contribute to funding the artist, and receive exclusive benefits such as early access to music albums, the opportunity to engage in live Q&A sessions, invitations to special events, and private meetings. As the value of the token rises, both the artist and the follower benefit.

From a business perspective, social tokens can prove a goldmine. For startups, they're an ideal source of funding and improving fan engagement. For well-established businesses like Coca-Cola® and Apple, it's a perfect opportunity to enhance brand value by giving token holders early access to privileged content and new products. Since the amount of tokens is limited, rising demand increases their value.

People often think that brands can achieve similar results through a subscription service. While this is true to a certain extent, social tokens hold monetary value, which can increase substantially with time. In addition, users can exchange them among themselves or give them to others. This tangible nature makes them different from typical online membership schemes.

Social tokens are created by platforms that build them on top of blockchains such as 

Following a model similar to that of crypto, social tokens are often traded on platforms like 

. Since they hold value, you can buy and sell them as easily as any other digital asset. Some well-known social cryptos are 

The popularity of social tokens stems partly from the need to cut out the middleman. In a typical 

, social platforms such as YouTube, TikTok and Facebook take the lion's share of fees from creators and brands, which can reduce the potential income generated by the content creator. Similarly, social platforms also control brand followers without giving them any tangible benefit.

In contrast, social tokens use the blockchain to access a decentralized environment, in which content creators can easily market their products without the cost and regulatory constraints imposed by social platforms. In this setup, the popularity of a content creator can increase in direct proportion to the value of its social tokens.

Organizations and brands aren’t the only entity to benefit from social tokens. In fact, these creator coins are tailor-made for individuals and influencers. Just like the brands themselves, individuals can create and sell social tokens for funding, and to improve their reputation through market capitalization. A social token is to an individual what stocks are to a brand.

Social tokens are proof that the internet has moved from Web 1.0 to 

. In Web 1.0, the “information economy,” search engines such as Yahoo and Google enabled people to retrieve useful information. The trend gave way to Web 2.0, the “platform economy,” where Facebook and YouTube allow users to create content. Now, with Web 3.0 — the “token economy” — users can retrieve information, create content and contribute to the success of a platform. This brings creators and consumers together, paving the way for a more decentralized “creator economy."

There are two main types of social tokens: Personal tokens and community tokens. Since content creators are continuously finding new ways to use such tokens, you may also come across new terms, such as “participation tokens” and “social platform tokens.” These categories are sometimes described as distinct types of social tokens that don't fall into either of the two main types listed at the beginning of this paragraph.

To help explain, here’s an overview of each one.

Also called “creator tokens,” personal tokens are established by individuals to monetize themselves, and to provide privileged services to their followers. Anyone — celebrities, artists, athletes, and members of the general public — can create personal tokens to help boost their careers or notoriety.

Before the introduction of blockchain and the creator economy, music legend David Bowie used asset-backed securities, 

, to enhance his music career. Holders of the Bowie Bond were promised a return of 7.9% per annum for ten years on the royalty earned for the streaming of David Bowie’s music.

Nowadays, prominent artists are offering similar incentives through the launch of their social tokens on the blockchain. In 2020, the Grammy Award-winning artist, 

 (better known as DJ RAC) introduced RAC, the social token of the 

. The holders of the token can enjoy various perks, such as exclusive music playlists, token 

, a French entrepreneur, tokenized himself by selling ALEX to his crypto enthusiasts. This helped him raise the needed capital to form his own social platform in the U.S. Besides other incentives, token holders will receive a share of Masmej’s future income for the next three years.

Community tokens, or community coins, are created by organizations or by a group of people to market their respective brands to followers. Similar to members of a club, token holders can get exclusive benefits reserved for that particular community. These benefits are somewhat identical to benefits offered by personal tokens, but they may also give you 

 rights and a share of the company's revenue.

Community tokens are launched mainly by a decentralized autonomous organization, or 

. Unlike the creators of personal tokens, the organization overseeing a community token already has a large following, which makes it easier to market it.

For instance, when CoinDesk launched its 

 token in 2022, it marketed it during its much-awaited annual Consensus festival, which is attended by thousands of members. To show its gratitude, CoinDesk rewarded attendees at 

 with DESK tokens. The attendees could also use these tokens to buy items at the event.

WHALE is another example of a community token. It derives its value from rare and valuable NFTs in an art collection known as the 

. Since the project’s initiation in 2019, the value of the stored NFTs has increased from $500,000 to more than $70 million. WHALE token holders have directly benefited from the enhanced value. Besides access to exclusive Discord channels, events and giveaways, members can also rent and purchase NFTs from the Vault.

Participation tokens are sometimes described as a subcategory of community tokens. Users can earn these tokens by participating in the development of a project. For instance, the 

 token from TAIKAI is an example of community engagement. Universities and organizations can use these tokens to reward contributors who wish to participate in creating different types of projects.

TAIKAI also encourages students, freelancers and startups to create projects and contribute to proposals. The best proposal receives KAI tokens and prizes. Backers and experts who contribute to the project also get KAI tokens.

 is another similar initiative. The FWB token brings together artists, creators, thinkers and Web 3.0 enthusiasts to collaborate on a variety of projects. Successful teams receive hefty rewards for their contributions. Token holders are also rewarded for creating a summarized version of the content that other members can pay to unlock.

Social platforms tokens are distributed by platforms that support their creation and trading. Examples of social platform tokens include Rally, 

Rally is a popular social token platform that enables individuals, celebrities and organizations to create their own social tokens and NFTs. Since its launch, RALLY has gained tremendous momentum, manifested in its market capitalization of over $8 million in just a couple of years. Since Rally is a sidechain of the Ethereum network, the only drawback of the token is that it can only exist on the Rally network.

In contrast, TryRoll offers users the chance to create an 

 token that they can share with others on different platforms. It also offers custodial Ethereum wallets that are capable of sending social tokens to any address that supports ERC-20 tokens. However, TryRoll is not the easiest platform to use, and it has a high network fee.

Social tokens are fueling the creator economy, in which the two major stakeholders — the content creator and the token holder — collaborate to enhance a brand’s value.

The following is a brief list of the many benefits these stakeholders enjoy:

Traditionally, social influencers have used sponsored posts, advertising and subscription models to attract new followers. In this setup, the social platform has often received a big chunk of revenue, depriving content creators of reasonable profit. However, social tokens have changed this dynamic by letting content creators earn direct revenue and share benefits among their followers.

Social tokens have given fans new ways to interact with content creators, helping them become a part of the creator's journey. In return, the community receives a more personalized experience that strengthens the bond between the two. For instance, fans of Lil Yachty 

 from the rapper's mother after the launch of his YACHTY token.

By purchasing creator coins, fans are, in effect, pledging their support to the project. Unlike stocks and bonds, the value associated with each token is enforced by smart contracts. This means that there’s minimal conflict, because everything — from exercising users’ rights, to the extent of enforcement and how those rights are exercised — is written in the smart contract. This configuration ensures that there’s no need for third parties and negotiators to settle disputes.

Social tokens are secured by blockchain technology, in which data is structured into blocks, each of which contains a bundle of transactions. Every new block is connected to all preceding and subsequent blocks in a way that makes it practically impossible to tamper with the data. Therefore, it's nearly impossible to hack into a blockchain. It's only when such creator coins are moved into a 

 that they become truly vulnerable. Even so, well-known digital wallets adopt extremely strict security mechanisms that make social tokens one of the safest digital assets you can own.

Before investing in a social token, it's sensible to consider the following drawbacks.

Social tokens are a financial instrument, which means that there’s risk involved in holding them for investment purposes. While their values can increase substantially, remember that not every token has a value behind its project. This is particularly true for social tokens, which don't have the backing of large venture capital firms that only invest in viable opportunities. If the creator of a social token decides to back off from the project, there’s no way for you to recoup your investment.

There is no global regulation in place to scrutinize social tokens. Hence, content creators may have to deal with several legal gray areas, which can include liability issues and false advertising concerns. From a consumer perspective, the law is still ambiguous about the extent to which consumer law will protect the purchasers. It's also the reason why borrowers of social tokens see a large list of disclaimers that may favor the token issuer in case of a legal battle.

, or non-fungible tokens. NFTs are unique, which means that they have distinctive features that make them different from other units. On the contrary, social tokens are fungible, since each unit of the social token has a similar value.

For ease of understanding, you can compare an NFT with a work of art. Every painting is different. This is why every artwork — or NFT — differs in value. Social tokens, however, are just like any other cryptocurrency. You can compare them to 

, because the value of each BTC is similar to that of another BTC.

The two terms are often confusing, because several content creators monetize both NFTs and social tokens. For instance, an artist can use NFTs to monetize personal artwork, while also releasing a social token that gives the holder access to personal Q&A sessions or art lessons.

It's said that the first social tokens were launched somewhere in 2020. WHALE is often called the first social token, launched by a private collector of NFTs, 

. Similarly, some credit Spencer Dinwiddie, the Brooklyn Nets point guard, who 

Irrespective of the debate, both of these early projects have found traction, which is a testament to the success of social tokens. Here’s a look at some other successful projects, in order to visualize the impact of social tokens on our lives.

As mentioned earlier, ALEX is a social token created by an aspiring entrepreneur, Alex Masmej, to finance his crypto-related projects. Before COVID-19, Masmej had founded the first successful crypto art–backed loan instrument, but couldn't gain the required momentum due to financial debacles he subsequently faced during COVID.

In a bid to work on a more sustainable project, he created the ALEX tooken and sold it to his followers in exchange for some of his future income for the next three years. The sale helped Masmej raise $20,000 in a mere 100 hours. During the crypto frenzy, the market value of ALEX exceeded $2 million, which reflects the utility of crafting such personal tokens.

The objective of the RAC token created by musician André Allen Anjos was to reward loyal fans by giving them access to various perks and exclusive content. Accordingly, 25,000 RAC were distributed to loyal fans, who had supported DJ RAC since his early days back in 2009.

 supporters also received a fair share of these tokens. In the future, subscribers to RAC can also benefit from the variety of perks reserved for its online communities. Since its launch, RAC has evolved into one of the most successful personal tokens to date.

Jaylen Clark, the UCLA basketball player, is the 

. By creating the JROCK token, Clark’s followers can interact directly with the player and help him sustain his career. Token holders can get early access to exclusive merchandise, ticket raffles, behind-the-scenes footage and workout videos. Since JROCK is traded on the secondary market, token holders can also benefit from an increase in its value.

GCR is the native token of research and investment firm Global Coin Research. The community uses the token to fund various investment initiatives. In turn, members have access to private seminars, where they can interact with NFT artists and invest in upcoming projects. The organization also arranges weekly hangouts for learners and investors. Since the launch, GCR has gained more than 30,000 members, who have contributed over $31 million to the project.

Launched in 2020, WHALE was created by a pseudonymous NFT collector known as WhaleShark. The value of the token is derived from WhaleShark’s personal NFT collection. As one of the most successful social tokens, it strikes a fine balance between wealth preservation and growth speculation. As of 2022, the collection is valued at $73 million, a phenomenal contrast to its original $500,000 market value.

STEEM is the native currency of the social platform,

. The project's goal is to let users earn by contributing to the development of the platform. Anyone can become a stakeholder by creating content and earning rewards in the form of STEEM.

According to the official website, the organization has distributed nearly $59 million in rewards to its contributors. Remarkably, the Steem platform processes more transactions than the Ethereum and Bitcoin blockchains combined.

Creating a social token is akin to building your own online community. It’s unlike anything you’ve experienced, because it allows both the content creator and token holders to work together in creating brand value. Instead of using social media to engage followers, content creators are more likely to use a social token to let everyone benefit from community engagement and potential price increases.

Moreover, social tokens aren’t going anywhere — because they have plenty of value and utility to them. Take WHALE, for example. The market value of the token has actually increased more than the underlying NFTs upon which the token is built. Similarly, Rally has already become the leading global platform for anyone to create social tokens with ease.

There’s no doubt that we're quickly moving away from Web 2.0 to Web 3.0. Existing Web 2.0 social platforms actively control their members — without benefiting either influencers or users. It's just a matter of time before the Web 3.0 "token economy" takes over from social platforms.

Social Tokens: Promoting Community Benefits & Fair Monetization

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