FavorTube’s Tokenomy

Subscription Model

FavorTube currently adopts a private channel + subscription model, which means that consumers will only be able to play the videos in channels after they subscribe to them by token FVT. In this way, FavorTube provides value in use for end-users, while the end-users provide sustainable cash flow to FavorTube.

Innovation From FavorTube

The above solution is the result of simply moving the business model on Web2 to FavorTube. In addition, we should get innovations in the business model due to the advantages of full decentralization from FavorTube, and these innovations are the root cause of why Web3 will overwhelm Web2. In FavorTube, innovations have been made in several areas:

New usage of subscription fees

Empowering NFTs

In FavorTube, the channel has a financial feature because it can generate sustainable cash flow. In FavorTube, a solution has been designed for content creators to use finance as leverage to support faster and better channel development, and this solution is NFT.

Decentralized Reward System

Staking System

In FavorTube, all nodes or members that provide services to the system need to stake a portion of their FVTs. For example, creating a channel requires staking, becoming an auditor requires staking, and providing storage and bandwidth services requires staking, while the staking is established early to guarantee the quality of services and also to reduce the liquidity of tokens in the early days when the main-net goes live.

Genesis Launch

For all platform economies, content creators and consumers are in a chicken-and-egg situation. Consumers come to FavorTube because they can get access to content that is hard to get on other platforms, while the content just comes from a large number of creators. And content creators are willing to come because there are so many consumers on the platform. In Web2, it is implemented through subsidies, while in FavorTube, it is implemented through airdrop rewards. In order to avoid a large number of airdrops being dropped to invalid places, we use different airdrop strategies in four stages, requiring users to complete different tasks. By doing so, we subsidize not only the content creators but also all the stakeholders in the system who contribute to the system and hope to earn revenue.

Summary

FavorTube is a fully decentralized Web3 platform that can generate sustainable cash flow and provide use value for end users. Its token economy makes full use of the advantages of decentralization, and with the diverse and flexible models, it is expected to become the benchmark of the token economy for Web3 applications.

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FavorLabs

FavorLabs

First web3 platform taking advantage of full decentralization. https://www.favorlabs.io