Background

Steem Blockchain is the First and the largest public contents platform based on blockchain, which is used by many communities. The value of Steem from mutual content is just like the Bitcoin to digital asset. However, since Steem blockchain is lack of smart contract layer and sidechain, its interpolation ability is limited. Furthermore, a project called smart media token protocol (SMTs) which was leaded by Steem.inc. The project will finally help every community have the ability to issue a kind of community token that will be a part of mechanism of "proof of brain". Consequently, the project ended without result.

The problem need to solve

Donut network focus to bridge the ecosystem between Steem andPolkadot. With Donut, the founders of community can focus themselves over the community operation rather than technical IT infrastructure. In the ideal condition, with Donut, the founders of community can create DeFi and NFT module, issue community token through Donut and make a combination of community and other ecosystem on the Polkadot.

In the process, Donut Network will sove two main problem: 1, to transfer assets across blockchains; 2, smart contract support. Because of these two solution, community founder can use itself community token to incentive its community development and social communication by rewarding people who contribute community with crypto currencies. Based on that, smart contract makes community develop much more DeFi and NFT digital scenario needs.

Through the Polkadot, Donut digitalized the communities, it not only benefit communities on the Steem to involve token, DeFi, and NFT scenarios. It also help the projects on Polkadot allocate their mutual content module, encourage community development and social communication.