Previously, we have spoken about why we believe the world needs censorship-resistant platforms for sharing content freely, and how we are utilising the blockchain to enable free-speech.
Today we would like to take a closer look at the Libertas ecosystem, and the utility of our token within.
Initially we created the LIBERTAS token to secure immutability of the data within our platform, however in recent weeks we have been exploring additional avenues of rewarding token holders as well as our early supporters.
A quick reminder of our token distribution model:
With this model we have attempted to provide our token a fair launch into the market, while maintaining 20% of the supply within the ecosystem to incentivise the team and its expansion, business development and growth initiatives as well as providing liquidity to achieve long-term development of the ecosystem.
We have launched the token with an initial supply of 100m, team tokens (10%) being distributed over time under a lockup giving us 10% of the supply to be used for our marketing and business development efforts.
A large portion of our supply is freely available on the market for anyone who wishes to support the project from its early days, giving its supporters a large upside potential. This also makes us fully self-funded, independent of any VCs with full focus on our community and product.
In order to achieve sustainable growth and price increase of the token and therefore reward its long-term holders, we have decided to implement a 1% token burn on every transaction conducted within the ecosystem. This mechanism will ensure that the circulating supply of the tokens will decrease overtime.
In addition to deflationary mechanics, every transaction within the ecosystem directly supporting the content creators through donations, subscriptions or pay-per-view models, will have its revenue (9% of the transaction amount) split equally between the development fund and the top-100 token holders (4.5% each).
Incentive to “Hold”
If LIBERTAS was just a simple transactionary token, we recognise there could potentially have been little incentive for content creators to hold them.
For this reason we will be implementing a way to promote your content using your LIBERTAS, this is not limited to content creators but open to everyone holding any amount of LIBERTAS tokens. Users and content creators will be able to Liberate content using their token balance. This content will then be ranked and published on a separate “Liberated” page. These podcasts will gain the most exposure on the homepage.
Furthermore, we will be extending our product portfolio to bring even more utility into the ecosystem once it matures. Token holders will directly and indirectly benefit from these products. Most notably — advertising and premium memberships. Fees for these services will be distributed between the development fund and the top 100 holders.
As well as the above, we will also be introducing additional mechanics for users to burn tokens and gift awards to a piece of content. In a similar fashion to Reddit Awards.
Additionally, this model combined with our recent VOX launch, will soon introduce utility to our tokens, as well as give us the flexibility to introduce new products and new ways of rewarding our supporters and token holders in the near-future.
Furthermore, our development process has now been streamlined — expect regular, more frequent updates in order to best keep the community updated and engaged.