More on Web3 & Crypto
TheRedKnight
3 years ago
Say goodbye to Ponzi yields - A new era of decentralized perpetual
Decentralized perpetual may be the next crypto market boom; with tons of perpetual popping up, let's look at two protocols that offer organic, non-inflationary yields.
Decentralized derivatives exchanges' market share has increased tenfold in a year, but it's still 2% of CEXs'. DEXs have a long way to go before they can compete with centralized exchanges in speed, liquidity, user experience, and composability.
I'll cover gains.trade and GMX protocol in Polygon, Avalanche, and Arbitrum. Both protocols support leveraged perpetual crypto, stock, and Forex trading.
Why these protocols?
Decentralized GMX Gains protocol
Organic yield: path to sustainability
I've never trusted Defi's non-organic yields. Example: XYZ protocol. 20–75% of tokens may be set aside as farming rewards to provide liquidity, according to tokenomics.
Say you provide ETH-USDC liquidity. They advertise a 50% APR reward for this pair, 10% from trading fees and 40% from farming rewards. Only 10% is real, the rest is "Ponzi." The "real" reward is in protocol tokens.
Why keep this token? Governance voting or staking rewards are promoted services.
Most liquidity providers expect compensation for unused tokens. Basic psychological principles then? — Profit.
Nobody wants governance tokens. How many out of 100 care about the protocol's direction and will vote?
Staking increases your token's value. Currently, they're mostly non-liquid. If the protocol is compromised, you can't withdraw funds. Most people are sceptical of staking because of this.
"Free tokens," lack of use cases, and skepticism lead to tokens moving south. No farming reward protocols have lasted.
It may have shown strength in a bull market, but what about a bear market?
What is decentralized perpetual?
A perpetual contract is a type of futures contract that doesn't expire. So one can hold a position forever.
You can buy/sell any leveraged instruments (Long-Short) without expiration.
In centralized exchanges like Binance and coinbase, fees and revenue (liquidation) go to the exchanges, not users.
Users can provide liquidity that traders can use to leverage trade, and the revenue goes to liquidity providers.
Gains.trade and GMX protocol are perpetual trading platforms with a non-inflationary organic yield for liquidity providers.
GMX protocol
GMX is an Arbitrum and Avax protocol that rewards in ETH and Avax. GLP uses a fast oracle to borrow the "true price" from other trading venues, unlike a traditional AMM.
GLP and GMX are protocol tokens. GLP is used for leveraged trading, swapping, etc.
GLP is a basket of tokens, including ETH, BTC, AVAX, stablecoins, and UNI, LINK, and Stablecoins.
GLP composition on arbitrum
GLP composition on Avalanche
GLP token rebalances based on usage, providing liquidity without loss.
Protocol "runs" on Staking GLP. Depending on their chain, the protocol will reward users with ETH or AVAX. Current rewards are 22 percent (15.71 percent in ETH and the rest in escrowed GMX) and 21 percent (15.72 percent in AVAX and the rest in escrowed GMX). escGMX and ETH/AVAX percentages fluctuate.
Where is the yield coming from?
Swap fees, perpetual interest, and liquidations generate yield. 70% of fees go to GLP stakers, 30% to GMX. Organic yields aren't paid in inflationary farm tokens.
Escrowed GMX is vested GMX that unlocks in 365 days. To fully unlock GMX, you must farm the Escrowed GMX token for 365 days. That means less selling pressure for the GMX token.
GMX's status
These are the fees in Arbitrum in the past 11 months by GMX.
GMX works like a casino, which increases fees. Most fees come from Margin trading, which means most traders lose money; this money goes to the casino, or GLP stakers.
Strategies
My personal strategy is to DCA into GLP when markets hit bottom and stake it; GLP will be less volatile with extra staking rewards.
GLP YoY return vs. naked buying
Let's say I invested $10,000 in BTC, AVAX, and ETH in January.
BTC price: 47665$
ETH price: 3760$
AVAX price: $145
Current prices
BTC $21,000 (Down 56 percent )
ETH $1233 (Down 67.2 percent )
AVAX $20.36 (Down 85.95 percent )
Your $10,000 investment is now worth around $3,000.
How about GLP? My initial investment is 50% stables and 50% other assets ( Assuming the coverage ratio for stables is 50 percent at that time)
Without GLP staking yield, your value is $6500.
Let's assume the average APR for GLP staking is 23%, or $1500. So 8000$ total. It's 50% safer than holding naked assets in a bear market.
In a bull market, naked assets are preferable to GLP.
Short farming using GLP
Simple GLP short farming.
You use a stable asset as collateral to borrow AVAX. Sell it and buy GLP. Even if GLP rises, it won't rise as fast as AVAX, so we can get yields.
Let's do the maths
You deposit $10,000 USDT in Aave and borrow Avax. Say you borrow $8,000; you sell it, buy GLP, and risk 20%.
After a year, ETH, AVAX, and BTC rise 20%. GLP is $8800. $800 vanishes. 20% yields $1600. You're profitable. Shorting Avax costs $1600. (Assumptions-ETH, AVAX, BTC move the same, GLP yield is 20%. GLP has a 50:50 stablecoin/others ratio. Aave won't liquidate
In naked Avax shorting, Avax falls 20% in a year. You'll make $1600. If you buy GLP and stake it using the sold Avax and BTC, ETH and Avax go down by 20% - your profit is 20%, but with the yield, your total gain is $2400.
Issues with GMX
GMX's historical funding rates are always net positive, so long always pays short. This makes long-term shorts less appealing.
Oracle price discovery isn't enough. This limitation doesn't affect Bitcoin and ETH, but it affects less liquid assets. Traders can buy and sell less liquid assets at a lower price than their actual cost as long as GMX exists.
As users must provide GLP liquidity, adding more assets to GMX will be difficult. Next iteration will have synthetic assets.
Gains Protocol
Best leveraged trading platform. Smart contract-based decentralized protocol. 46 crypto pairs can be leveraged 5–150x and 10 Forex pairs 5–1000x. $10 DAI @ 150x (min collateral x leverage pos size is $1500 DAI). No funding fees, no KYC, trade DAI from your wallet, keep funds.
DAI single-sided staking and the GNS-DAI pool are important parts of Gains trading. GNS-DAI stakers get 90% of trading fees and 100% swap fees. 10 percent of trading fees go to DAI stakers, which is currently 14 percent!
Trade volume
When a trader opens a trade, the leverage and profit are pulled from the DAI pool. If he loses, the protocol yield goes to the stakers.
If the trader's win rate is high and the DAI pool slowly depletes, the GNS token is minted and sold to refill DAI. Trader losses are used to burn GNS tokens. 25%+ of GNS is burned, making it deflationary.
Due to high leverage and volatility of crypto assets, most traders lose money and the protocol always wins, keeping GNS deflationary.
Gains uses a unique decentralized oracle for price feeds, which is better for leverage trading platforms. Let me explain.
Gains uses chainlink price oracles, not its own price feeds. Chainlink oracles only query centralized exchanges for price feeds every minute, which is unsuitable for high-precision trading.
Gains created a custom oracle that queries the eight chainlink nodes for the current price and, on average, for trade confirmation. This model eliminates every-second inquiries, which waste gas but are more efficient than chainlink's per-minute price.
This price oracle helps Gains open and close trades instantly, eliminate scam wicks, etc.
Other benefits include:
Stop-loss guarantee (open positions updated)
No scam wicks
Spot-pricing
Highest possible leverage
Fixed-spreads. During high volatility, a broker can increase the spread, which can hit your stop loss without the price moving.
Trade directly from your wallet and keep your funds.
>90% loss before liquidation (Some platforms liquidate as little as -50 percent)
KYC-free
Directly trade from wallet; keep funds safe
Further improvements
GNS-DAI liquidity providers fear the impermanent loss, so the protocol is migrating to its own liquidity and single staking GNS vaults. This allows users to stake GNS without permanent loss and obtain 90% DAI trading fees by staking. This starts in August.
Their upcoming improvements can be found here.
Gains constantly add new features and change pairs. It's an interesting protocol.
Conclusion
Next bull run, watch decentralized perpetual protocols. Effective tokenomics and non-inflationary yields may attract traders and liquidity providers. But still, there is a long way for them to develop, and I don't see them tackling the centralized exchanges any time soon until they fix their inherent problems and improve fast enough.
Read the full post here.
Vitalik
3 years ago
An approximate introduction to how zk-SNARKs are possible (part 2)
If tasked with the problem of coming up with a zk-SNARK protocol, many people would make their way to this point and then get stuck and give up. How can a verifier possibly check every single piece of the computation, without looking at each piece of the computation individually? But it turns out that there is a clever solution.
Polynomials
Polynomials are a special class of algebraic expressions of the form:
- x+5
- x^4
- x^3+3x^2+3x+1
- 628x^{271}+318x^{270}+530x^{269}+…+69x+381
i.e. they are a sum of any (finite!) number of terms of the form cx^k
There are many things that are fascinating about polynomials. But here we are going to zoom in on a particular one: polynomials are a single mathematical object that can contain an unbounded amount of information (think of them as a list of integers and this is obvious). The fourth example above contained 816 digits of tau, and one can easily imagine a polynomial that contains far more.
Furthermore, a single equation between polynomials can represent an unbounded number of equations between numbers. For example, consider the equation A(x)+ B(x) = C(x). If this equation is true, then it's also true that:
- A(0)+B(0)=C(0)
- A(1)+B(1)=C(1)
- A(2)+B(2)=C(2)
- A(3)+B(3)=C(3)
And so on for every possible coordinate. You can even construct polynomials to deliberately represent sets of numbers so you can check many equations all at once. For example, suppose that you wanted to check:
- 12+1=13
- 10+8=18
- 15+8=23
- 15+13=28
You can use a procedure called Lagrange interpolation to construct polynomials A(x) that give (12,10,15,15) as outputs at some specific set of coordinates (eg. (0,1,2,3)), B(x) the outputs (1,8,8,13) on thos same coordinates, and so forth. In fact, here are the polynomials:
- A(x)=-2x^3+\frac{19}{2}x^2-\frac{19}{2}x+12
- B(x)=2x^3-\frac{19}{2}x^2+\frac{29}{2}x+1
- C(x)=5x+13
Checking the equation A(x)+B(x)=C(x) with these polynomials checks all four above equations at the same time.
Comparing a polynomial to itself
You can even check relationships between a large number of adjacent evaluations of the same polynomial using a simple polynomial equation. This is slightly more advanced. Suppose that you want to check that, for a given polynomial F, F(x+2)=F(x)+F(x+1) with the integer range {0,1…89} (so if you also check F(0)=F(1)=1, then F(100) would be the 100th Fibonacci number)
As polynomials, F(x+2)-F(x+1)-F(x) would not be exactly zero, as it could give arbitrary answers outside the range x={0,1…98}. But we can do something clever. In general, there is a rule that if a polynomial P is zero across some set S=\{x_1,x_2…x_n\} then it can be expressed as P(x)=Z(x)*H(x), where Z(x)=(x-x_1)*(x-x_2)*…*(x-x_n) and H(x) is also a polynomial. In other words, any polynomial that equals zero across some set is a (polynomial) multiple of the simplest (lowest-degree) polynomial that equals zero across that same set.
Why is this the case? It is a nice corollary of polynomial long division: the factor theorem. We know that, when dividing P(x) by Z(x), we will get a quotient Q(x) and a remainder R(x) is strictly less than that of Z(x). Since we know that P is zero on all of S, it means that R has to be zero on all of S as well. So we can simply compute R(x) via polynomial interpolation, since it's a polynomial of degree at most n-1 and we know n values (the zeros at S). Interpolating a polynomial with all zeroes gives the zero polynomial, thus R(x)=0 and H(x)=Q(x).
Going back to our example, if we have a polynomial F that encodes Fibonacci numbers (so F(x+2)=F(x)+F(x+1) across x=\{0,1…98\}), then I can convince you that F actually satisfies this condition by proving that the polynomial P(x)=F(x+2)-F(x+1)-F(x) is zero over that range, by giving you the quotient:
H(x)=\frac{F(x+2)-F(x+1)-F(x)}{Z(x)}
Where Z(x) = (x-0)*(x-1)*…*(x-98).
You can calculate Z(x) yourself (ideally you would have it precomputed), check the equation, and if the check passes then F(x) satisfies the condition!
Now, step back and notice what we did here. We converted a 100-step-long computation into a single equation with polynomials. Of course, proving the N'th Fibonacci number is not an especially useful task, especially since Fibonacci numbers have a closed form. But you can use exactly the same basic technique, just with some extra polynomials and some more complicated equations, to encode arbitrary computations with an arbitrarily large number of steps.
see part 3
Alex Bentley
3 years ago
Why Bill Gates thinks Bitcoin, crypto, and NFTs are foolish
Microsoft co-founder Bill Gates assesses digital assets while the bull is caged.
Bill Gates is well-respected.
Reasonably. He co-founded and led Microsoft during its 1980s and 1990s revolution.
After leaving Microsoft, Bill Gates pursued other interests. He and his wife founded one of the world's largest philanthropic organizations, Bill & Melinda Gates Foundation. He also supports immunizations, population control, and other global health programs.
When Gates criticized Bitcoin, cryptocurrencies, and NFTs, it made news.
Bill Gates said at the 58th Munich Security Conference...
“You have an asset class that’s 100% based on some sort of greater fool theory that somebody’s going to pay more for it than I do.”
Gates means digital assets. Like many bitcoin critics, he says digital coins and tokens are speculative.
And he's not alone. Financial experts have dubbed Bitcoin and other digital assets a "bubble" for a decade.
Gates also made fun of Bored Ape Yacht Club and NFTs, saying, "Obviously pricey digital photographs of monkeys will help the world."
Why does Bill Gates dislike digital assets?
According to Gates' latest comments, Bitcoin, cryptos, and NFTs aren't good ways to hold value.
Bill Gates is a better investor than Elon Musk.
“I’m used to asset classes, like a farm where they have output, or like a company where they make products,” Gates said.
The Guardian claimed in April 2021 that Bill and Melinda Gates owned the most U.S. farms. Over 242,000 acres of farmland.
The Gates couple has enough farmland to cover Hong Kong.
Bill Gates is a classic investor. He wants companies with an excellent track record, strong fundamentals, and good management. Or tangible assets like land and property.
Gates prefers the "old economy" over the "new economy"
Gates' criticism of Bitcoin and cryptocurrency ventures isn't surprising. These digital assets lack all of Gates's investing criteria.
Volatile digital assets include Bitcoin. Their costs might change dramatically in a day. Volatility scares risk-averse investors like Gates.
Gates has a stake in the old financial system. As Microsoft's co-founder, Gates helped develop a dominant tech company.
Because of his business, he's one of the world's richest men.
Bill Gates is invested in protecting the current paradigm.
He won't invest in anything that could destroy the global economy.
When Gates criticizes Bitcoin, cryptocurrencies, and NFTs, he's suggesting they're a hoax. These soapbox speeches are one way he protects his interests.
Digital assets aren't a bad investment, though. Many think they're the future.
Changpeng Zhao and Brian Armstrong are two digital asset billionaires. Two crypto exchange CEOs. Binance/Coinbase.
Digital asset revolution won't end soon.
If you disagree with Bill Gates and plan to invest in Bitcoin, cryptocurrencies, or NFTs, do your own research and understand the risks.
But don’t take Bill Gates’ word for it.
He’s just an old rich guy with a lot of farmland.
He has a lot to lose if Bitcoin and other digital assets gain global popularity.
This post is a summary. Read the full article here.
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Startup Journal
3 years ago
The Top 14 Software Business Ideas That Are Sure To Succeed in 2023
Software can change any company.
Software is becoming essential. Everyone should consider how software affects their lives and others'.
Software on your phone, tablet, or computer offers many new options. We're experts in enough ways now.
Software Business Ideas will be popular by 2023.
ERP Programs
ERP software meets rising demand.
ERP solutions automate and monitor tasks that large organizations, businesses, and even schools would struggle to do manually.
ERP software could reach $49 billion by 2024.
CRM Program
CRM software is a must-have for any customer-focused business.
Having an open mind about your business services and products allows you to change platforms.
Another company may only want your CRM service.
Medical software
Healthcare facilities need reliable, easy-to-use software.
EHRs, MDDBs, E-Prescribing, and more are software options.
The global medical software market could reach $11 billion by 2025, and mobile medical apps may follow.
Presentation Software in the Cloud
SaaS presentation tools are great.
They're easy to use, comprehensive, and full of traditional Software features.
In today's cloud-based world, these solutions make life easier for people. We don't know about you, but we like it.
Software for Project Management
People began working remotely without signs or warnings before the 2020 COVID-19 pandemic.
Many organizations found it difficult to track projects and set deadlines.
With PMP software tools, teams can manage remote units and collaborate effectively.
App for Blockchain-Based Invoicing
This advanced billing and invoicing solution is for businesses and freelancers.
These blockchain-based apps can calculate taxes, manage debts, and manage transactions.
Intelligent contracts help blockchain track transactions more efficiently. It speeds up and improves invoice generation.
Software for Business Communications
Internal business messaging is tricky.
Top business software tools for communication can share files, collaborate on documents, host video conferences, and more.
Payroll Automation System
Software development also includes developing an automated payroll system.
These software systems reduce manual tasks for timely employee payments.
These tools help enterprise clients calculate total wages quickly, simplify tax calculations, improve record-keeping, and support better financial planning.
System for Detecting Data Leaks
Both businesses and individuals value data highly. Yahoo's data breach is dangerous because of this.
This area of software development can help people protect their data.
You can design an advanced data loss prevention system.
AI-based Retail System
AI-powered shopping systems are popular. The systems analyze customers' search and purchase patterns and store history and are equipped with a keyword database.
These systems offer many customers pre-loaded products.
AI-based shopping algorithms also help users make purchases.
Software for Detecting Plagiarism
Software can help ensure your projects are original and not plagiarized.
These tools detect plagiarized content that Google, media, and educational institutions don't like.
Software for Converting Audio to Text
Machine Learning converts speech to text automatically.
These programs can quickly transcribe cloud-based files.
Software for daily horoscopes
Daily and monthly horoscopes will continue to be popular.
Software platforms that can predict forecasts, calculate birth charts, and other astrology resources are good business ideas.
E-learning Programs
Traditional study methods are losing popularity as virtual schools proliferate and physical space shrinks.
Khan Academy online courses are the best way to keep learning.
Online education portals can boost your learning. If you want to start a tech startup, consider creating an e-learning program.
Conclusion
Software is booming. There's never been a better time to start a software development business, with so many people using computers and smartphones. This article lists eight business ideas for 2023. Consider these ideas if you're just starting out or looking to expand.
Isaiah McCall
3 years ago
Is TikTok slowly destroying a new generation?
It's kids' digital crack
TikTok is a destructive social media platform.
The interface shortens attention spans and dopamine receptors.
TikTok shares more data than other apps.
Seeing an endless stream of dancing teens on my glowing box makes me feel like a Blade Runner extra.
TikTok did in one year what MTV, Hollywood, and Warner Music tried to do in 20 years. TikTok has psychotized the two-thirds of society Aldous Huxley said were hypnotizable.
Millions of people, mostly kids, are addicted to learning a new dance, lip-sync, or prank, and those who best dramatize this collective improvisation get likes, comments, and shares.
TikTok is a great app. So what?
The Commercial Magnifying Glass TikTok made me realize my generation's time was up and the teenage Zoomers were the target.
I told my 14-year-old sister, "Enjoy your time under the commercial magnifying glass."
TikTok sells your every move, gesture, and thought. Data is the new oil. If you tell someone, they'll say, "Yeah, they collect data, but who cares? I have nothing to hide."
It's a George Orwell novel's beginning. Look up Big Brother Award winners to see if TikTok won.
TikTok shares your data more than any other social media app, and where it goes is unclear. TikTok uses third-party trackers to monitor your activity after you leave the app.
Consumers can't see what data is shared or how it will be used. — Genius URL
32.5 percent of Tiktok's users are 10 to 19 and 29.5% are 20 to 29.
TikTok is the greatest digital marketing opportunity in history, and they'll use it to sell you things, track you, and control your thoughts. Any of its users will tell you, "I don't care, I just want to be famous."
TikTok manufactures mental illness
TikTok's effect on dopamine and the brain is absurd. Dopamine controls the brain's pleasure and reward centers. It's like a switch that tells your brain "this feels good, repeat."
Dr. Julie Albright, a digital culture and communication sociologist, said TikTok users are "carried away by dopamine." It's hypnotic, you'll keep watching."
TikTok constantly releases dopamine. A guy on TikTok recently said he didn't like books because they were slow and boring.
The US didn't ban Tiktok.
Biden and Trump agree on bad things. Both agree that TikTok threatens national security and children's mental health.
The Chinese Communist Party owns and operates TikTok, but that's not its only problem.
There’s borderline child porn on TikTok
It's unsafe for children and violated COPPA.
It's also Chinese spyware. I'm not a Trump supporter, but I was glad he wanted TikTok regulated and disappointed when he failed.
Full-on internet censorship is rare outside of China, so banning it may be excessive. US should regulate TikTok more.
We must reject a low-quality present for a high-quality future.
TikTok vs YouTube
People got mad when I wrote about YouTube's death.
They didn't like when I said TikTok was YouTube's first real challenger.
Indeed. TikTok is the fastest-growing social network. In three years, the Chinese social media app TikTok has gained over 1 billion active users. In the first quarter of 2020, it had the most downloads of any app in a single quarter.
TikTok is the perfect social media app in many ways. It's brief and direct.
Can you believe they had a YouTube vs TikTok boxing match? We are doomed as a species.
YouTube hosts my favorite videos. That’s why I use it. That’s why you use it. New users expect more. They want something quicker, more addictive.
TikTok's impact on other social media platforms frustrates me. YouTube copied TikTok to compete.
It's all about short, addictive content.
I'll admit I'm probably wrong about TikTok. My friend says his feed is full of videos about food, cute animals, book recommendations, and hot lesbians.
Whatever.
TikTok makes us bad
TikTok is the opposite of what the Ancient Greeks believed about wisdom.
It encourages people to be fake. It's like a never-ending costume party where everyone competes.
It does not mean that Gen Z is doomed.
They could be the saviors of the world for all I know.
TikTok feels like a step towards Mike Judge's "Idiocracy," where the average person is a pleasure-seeking moron.
Mark Shpuntov
3 years ago
How to Produce a Month's Worth of Content for Social Media in a Day
New social media producers' biggest error
The Treadmill of Social Media Content
New creators focus on the wrong platforms.
They post to Instagram, Twitter, TikTok, etc.
They create daily material, but it's never enough for social media algorithms.
Creators recognize they're on a content creation treadmill.
They have to keep publishing content daily just to stay on the algorithm’s good side and avoid losing the audience they’ve built on the platform.
This is exhausting and unsustainable, causing creator burnout.
They focus on short-lived platforms, which is an issue.
Comparing low- and high-return social media platforms
Social media networks are great for reaching new audiences.
Their algorithm is meant to viralize material.
Social media can use you for their aims if you're not careful.
To master social media, focus on the right platforms.
To do this, we must differentiate low-ROI and high-ROI platforms:
Low ROI platforms are ones where content has a short lifespan. High ROI platforms are ones where content has a longer lifespan.
A tweet may be shown for 12 days. If you write an article or blog post, it could get visitors for 23 years.
ROI is drastically different.
New creators have limited time and high learning curves.
Nothing is possible.
First create content for high-return platforms.
ROI for social media platforms
Here are high-return platforms:
Your Blog - A single blog article can rank and attract a ton of targeted traffic for a very long time thanks to the power of SEO.
YouTube - YouTube has a reputation for showing search results or sidebar recommendations for videos uploaded 23 years ago. A superb video you make may receive views for a number of years.
Medium - A platform dedicated to excellent writing is called Medium. When you write an article about a subject that never goes out of style, you're building a digital asset that can drive visitors indefinitely.
These high ROI platforms let you generate content once and get visitors for years.
This contrasts with low ROI platforms:
Twitter
Instagram
TikTok
LinkedIn
Facebook
The posts you publish on these networks have a 23-day lifetime. Instagram Reels and TikToks are exceptions since viral content can last months.
If you want to make content creation sustainable and enjoyable, you must focus the majority of your efforts on creating high ROI content first. You can then use the magic of repurposing content to publish content to the lower ROI platforms to increase your reach and exposure.
How To Use Your Content Again
So, you’ve decided to focus on the high ROI platforms.
Great!
You've published an article or a YouTube video.
You worked hard on it.
Now you have fresh stuff.
What now?
If you are not repurposing each piece of content for multiple platforms, you are throwing away your time and efforts.
You've created fantastic material, so why not distribute it across platforms?
Repurposing Content Step-by-Step
For me, it's writing a blog article, but you might start with a video or podcast.
The premise is the same regardless of the medium.
Start by creating content for a high ROI platform (YouTube, Blog Post, Medium). Then, repurpose, edit, and repost it to the lower ROI platforms.
Here's how to repurpose pillar material for other platforms:
Post the article on your blog.
Put your piece on Medium (use the canonical link to point to your blog as the source for SEO)
Create a video and upload it to YouTube using the talking points from the article.
Rewrite the piece a little, then post it to LinkedIn.
Change the article's format to a Thread and share it on Twitter.
Find a few quick quotes throughout the article, then use them in tweets or Instagram quote posts.
Create a carousel for Instagram and LinkedIn using screenshots from the Twitter Thread.
Go through your film and select a few valuable 30-second segments. Share them on LinkedIn, Facebook, Twitter, TikTok, YouTube Shorts, and Instagram Reels.
Your video's audio can be taken out and uploaded as a podcast episode.
If you (or your team) achieve all this, you'll have 20-30 pieces of social media content.
If you're just starting, I wouldn't advocate doing all of this at once.
Instead, focus on a few platforms with this method.
You can outsource this as your company expands. (If you'd want to learn more about content repurposing, contact me.)
You may focus on relevant work while someone else grows your social media on autopilot.
You develop high-ROI pillar content, and it's automatically chopped up and posted on social media.
This lets you use social media algorithms without getting sucked in.
Thanks for reading!