Alpha 1.0 will last around 2 months, and use a test token.  As we move forward through iterations, the other special features in the pipeline will be added and tested.  We start with low-risk, normal social media features, and as we pass security checks, things that involve people's money will be brought on.  We're not going to rush out of the gate and experiment with our user's funds - we've seen what results when that happens.

So in the end, there will be full P2P transaction ability, smart contracts, and all the normal cryptocurrency uses, and of course, a scalable blockchain platform for devs to build their own dApps, networks, or DAOs on, finding many new uses we cannot anticipate.