Disclaimer: This is an article we wrote on the Mirror.xyz dApp that automatically gets trnasformed into a NFT. Minting is OPTIONAL, you don’t need to mint this in order to participate in our Ecosystem. If you mint these articles, they will only ever be memorial NFTs with no actual value in the Ecosystem.
In a world where entertainment is not just a luxury but a fundamental part of our DNA, we are thrilled to unveil mProtocol, a groundbreaking initiative set to revolutionize the live events industry in the Web3 era.
After two years of meticulous research and development, we've created a decentralized, community-driven ecosystem that recognizes entertainment's integral role in human civilization throughout history. Our mission is to harness the magic that captivates our attention, ignites our passions, and brings joy to our lives by providing a innovative platform for launching live events. This new approach promises to redefine how we experience entertainment, changing the game forever and addressing the universal need for captivating experiences in a decentralized manner.
In a bold move that sets us apart from traditional crypto projects, we’ve developed an entirely new structure for token distribution. We're allocating an unprecedented 70% of the total token supply directly to our community. And by that, we're not just talking about community-first values – we're putting them into action.
Our Token Distribution Model is designed to empower Three Key Pillars of our Ecosystem
- Event Creators: The creators & musicians who bring the best entertainment experiences to Web3 will be rewarded for their innovation and creativity.
Our platforms will accommodate event creators to deliver the best events by offering not only a platform where they can monetize web3 content directly, but also a layer of engagement and monetization to their events on web2 socials such as providing rewards for those creating a X Space or Twitch stream.
- Staking Pool Creators: These are the backers and sponsors who support creators and their events, aligning their interests with the growth of our entire ecosystem.
Our community create staking pools for events paying Shards in order to enable farming of more tokens! This way, each event is transformed into mini-ecosystems where EVERYONE has a stake in the success and enjoys tangible rewards.
- Stakeholders: Active participants and engaged fans will now reap tangible benefits for their involvement if they stake shards in the staking pools. Shards are not lost, but they will be locked for days/weeks/months (depending on the platform rules) and at the end you will receive more Shards!
But the real game-changer lies in the rewards structure.
Beyond the accumulation of mShards, which will receive allocation of $m tokens in the form of airdrops, each event can offer its own set of incentives. These could range from special NFTs to access to exclusive experiences or other ecosystem-wide benefits.
This approach ensures that everyone in our community is incentivized to contribute their best, fostering a system designed for collective success.
The new EPY Standard
Think of it as the next evolution of APY (Annual Percentage Yield), but tailored specifically for each mEvent. This metric is calculated using a Variable Grade GDA algorithm, ensuring a fair and dynamic reward system for all participants.
Addressing the challenge of maintaining economic stability in a system with potentially numerous events, we have designed mProtocol's immutable on-chain algorithm to create a perfect balance. As the ecosystem grows and the number of events increases, the protocol automatically adjusts. The cost to back an event rises proportionally, but so do the potential rewards. This self-regulating mechanism acts as a natural stabilizer for the economy, ensuring a harmonious balance between token price and event frequency.
Bridging the Gap with Camp Identity Layer
We're integrating with Camp Identity Layer to allow creators to bring their off-chain data from platforms like Twitch, Kick, and Spotify onto the blockchain.
This means a creator can join the EntertainM ecosystem without abandoning existing web2 platforms.
Twitch streamers, for example, can transform their regular streams into mEvents, distributing mShards and accessing our reward system, all without ever leaving the Twitch platform!
*It's important to note that within our ecosystem, we specifically call "mEvents" those events that utilize the mProtocol to distribute m tokens. This distinction is crucial because it's these mEvents that unlock the full potential of our reward system.
When a stream, for example, becomes an mEvent, both the Twitch streamer and their fans stand to win rewards. By staking in their favorite creator's event, fans can raise the amount of rewards for everyone involved. This mechanism not only allows fans to truly showcase their love and support for the creator but also enables them to accumulate more rewards for themselves.
Imagine a popular Twitch streamer hosting a 24-hour charity stream. By turning it into an mEvent, not only does the streamer earn rewards, but their viewers do too, simply by watching and interacting.
This innovative approach creates a win-win scenario where creators are rewarded for their content, fans are incentivized for their engagement, supporting their favorite creators while boosting their own rewards.
It's a true revolution in how we think about content creation, consumption, and community support in the digital age.
A New Era of Entertainment
We're ushering in a new era where the lines between creators, stakeholders, and audience blur, where engagement is directly rewarded, and where the community truly holds the reins.
This level of community allocation – 70% of our total token supply – is virtually unheard of, especially for a project of our scale and ambition. This is your chance to be part of something truly unprecedented.
The future of entertainment is decentralized, community-driven, and rewarding for all participants. It's a future where your voice matters and your contributions are valued.
The stage is set, the spotlight is on, and the audience is waiting. It's time to show the world what's possible when we put the power truly in the hands of the community.
The show is about to begin, and you're not just invited – you're the star.🌟
