PlayMusic Functionality

PlayMusic's principle is to give opportunities to artists who for various reasons have not achieved professional success, and also to allow listeners the possibility of earning money by listening to their favorite songs:

Listener and composer with this, every song that the investor listens to, the subscription royalties will be divided between composer and listener (investor).

Staking platform to access the platform, investors will initially contribute $100 PLAY token and will have a monthly fee of $10/month, where they will be able to listen to their favorite music, but will also have rewards when listening to them.
Subscription distribution the monthly subscription revenue will be distributed in the following ways:

60% - will be shared between artists and listeners
10% - will be shared in PlayMusic's fund, for performances in the various project fronts (examples; updates, mass marketing, etc.)
20% - Liquidity pool
10% - will be used to buy PLAY Token and be burned.

Staking subscription: An alternative subscription model is staking tokens for the premium edition. Listeners can choose to stake (lock) PLAY tokens for the premium subscription. A listener can choose to unstake the token and end the subscription, or he can choose to keep staking. Subscription users do not lose the tokens after staking.
Staking rewards only go to the artists they listen to. Staking reward to musician from every subscriber is calculated by Y = X ⇤ M/L ⇤ T/365 ⇤ (Annual rate of staking reward %) where:

Y = The amount of staking reward a musician gets from one subscriber, X = Total number of tokens a subscriber stakes for subscription,
M = Hours the subscriber listens to the awarded musician
L = Total number of hours the subscriber listens to in each
T = Number of staking days.

Example: Mark stakes 100 tokens at the beginning of march to enjoy staking for premium subscription. During March, Mark listens to Lina's music for 30 hours and Lina's music for 70 hours. At the end of month, Rui and Lina will get Mark's staking reward tokens. If we assume the annual rate of staking reward is 20%, then Rui will get 0.49 tokens from Mark's staking and Lina will get 1.15 tokens from Mark's staking. Mark's does not pay for the staking reward and he will get all his staked amount back if he withdraws from subscription. Reward tokens are mint from the reserved 50% tokens from initial total supply. Staking for your favorite musicians: A listener can choose to directly stake for his/her favorite musicians. By staking to a specific musician, the user agrees to give all his staking reward to support the musician. The staking for musicians has an annual staking reward of 15% and the minimum staking time is 14 days. Stakers can choose to stake and unstake after 14 days and staking reward will be deposited to musician accounts each 14 days. This further boosts the income of your favorite musicians. Reward tokens are minted from the reserved 50% tokens from initial total supply.

Last updated 2 years ago

PlayMusic's principle is to give opportunities to artists who for various reasons have not achieved professional success, and also to allow listeners the possibility of earning money by listening to their favorite songs:

Listener and composer with this, every song that the investor listens to, the subscription royalties will be divided between composer and listener (investor).

Staking platform to access the platform, investors will initially contribute $100 PLAY token and will have a monthly fee of $10/month, where they will be able to listen to their favorite music, but will also have rewards when listening to them.
Subscription distribution the monthly subscription revenue will be distributed in the following ways:

60% - will be shared between artists and listeners
10% - will be shared in PlayMusic's fund, for performances in the various project fronts (examples; updates, mass marketing, etc.)
20% - Liquidity pool
10% - will be used to buy PLAY Token and be burned.

Staking subscription: An alternative subscription model is staking tokens for the premium edition. Listeners can choose to stake (lock) PLAY tokens for the premium subscription. A listener can choose to unstake the token and end the subscription, or he can choose to keep staking. Subscription users do not lose the tokens after staking.
Staking rewards only go to the artists they listen to. Staking reward to musician from every subscriber is calculated by Y = X ⇤ M/L ⇤ T/365 ⇤ (Annual rate of staking reward %) where:

Y = The amount of staking reward a musician gets from one subscriber, X = Total number of tokens a subscriber stakes for subscription,
M = Hours the subscriber listens to the awarded musician
L = Total number of hours the subscriber listens to in each
T = Number of staking days.

Example: Mark stakes 100 tokens at the beginning of march to enjoy staking for premium subscription. During March, Mark listens to Lina's music for 30 hours and Lina's music for 70 hours. At the end of month, Rui and Lina will get Mark's staking reward tokens. If we assume the annual rate of staking reward is 20%, then Rui will get 0.49 tokens from Mark's staking and Lina will get 1.15 tokens from Mark's staking. Mark's does not pay for the staking reward and he will get all his staked amount back if he withdraws from subscription. Reward tokens are mint from the reserved 50% tokens from initial total supply. Staking for your favorite musicians: A listener can choose to directly stake for his/her favorite musicians. By staking to a specific musician, the user agrees to give all his staking reward to support the musician. The staking for musicians has an annual staking reward of 15% and the minimum staking time is 14 days. Stakers can choose to stake and unstake after 14 days and staking reward will be deposited to musician accounts each 14 days. This further boosts the income of your favorite musicians. Reward tokens are minted from the reserved 50% tokens from initial total supply.

Last updated 2 years ago