Proof of Alliance

Morpheus Labs
Jun 18, 2018 · 2 min read

v1.0

Update on Morpheus Labs

Dear Supporters,

As we have mentioned, we are constantly exploring ways to enhance the usability of MITx tokens from circulation standpoint. We can now announce that we will be implementing a new proof of stake mechanism called Proof of Alliance.

Currently the model of revenue split, app revenue is shared between Morpheus Labs and app developer. Going forward, under Proof of Alliance, the revenue will be split between 3 parties, developer, ML, reviewers.

How does this work:

In Proof of Alliance, there will be Levels 1–5. Levelling is calculated based on 2 factors. (The exact calculation details will be revealed at a later date):

a. Amount of MITx held
b. Duration of MITx held

Reviewers must be registered on Morpheus Labs platform and will be given an ID. All reviewers will start at a Level commensurating POA (combination of a and b). Reviewers will be incentivised 2 ways:

a. Internal reviews on ML platform OR
b. External review (link tracking). Referral links can only be generated upon hitting a certain level of POA.

Internal Reviews:
When users write a review, reviews by users with higher POA level will be ranked higher and this review will be paid MITx tokens. Reviewers must hold minimum MITx in order to perform reviews. Once the reviews are done, any additional comments / likes will also entitle the reviewers bonus MITx tokens.

External Reviews:
Upon hitting a certain level, (more details soon), referral links can be generated by users. The referral links will be usable for external content, blogs, websites, etc. (much like the affiliate links right now) and when users click on these links, the link owner will be paid a cut of the revenue (payable in MITx tokens).

Please note we are constantly studying more ways to incentivise the holders of MITx. This is just the first of many.

If you need any clarifications, please reach out to us via info@morpheuslabs.io or join our telegram chat here: https://t.me/morpheuslabs

Morpheus Labs

Written by

The Blockchain-Platform-as-a-Service (BPaaS) for prototyping, deploying and operating Dapps at minimal cost and time. | https://morpheuslabs.io

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