3rd Year of Contentos Mainnet and Our Future Direction
With the support of our global content creators, Contentos will celebrate the 3rd anniversary of its mainnet in September 2021. We would like to take this opportunity to share with you our achievements over this past year and our future direction that we will be working towards.
NFT Sales, Passion Economy, and Video Mining
Many lives have been affected as the COVID-19 Delta variant virus continues to wreak havoc globally. Through the optimization of Video NFT Minting and distribution processes, mainnet gifting votes, creators and fans two-way mining, and many other functions, Contentos creates a safe and secure environment for creators on COS.TV to generate revenue through NFT sales, passion economy, and video mining. The number of COS.TV visits has grown by 231% in the past five months and has reached close to 3 million active users; the Vietnamese creator community has grown by 1,894%, and the number of users in Brazil and Russia have also risen sharply.
In addition to Ethereum and Binance Smart Chain, the COS.TV NFT function will soon support more high-performance public blockchains. In our long term commitment to reduce the number of COS circulation, COS Tokens that are paid as fees to mint NFTs on COS.TV will all be included in the periodic burn of COS Tokens. Additionally, the amount of COS tokens staked on the Contentos mainnet and Binance Exchange continues to grow, which strengthens our creator community.
The Contentos mainnet reached 10K+ on-chain DAU, with more than 1.15 million addresses and 60 million transactions (http://explorer.contentos.io/). The popularity of COS.TV has also brought about a new wave of top tier creators and crypto holders, and we look forward to the explosive growth of the COS.TV community.
In the first half of 2021, Contentos made several significant partnerships.
The Filecoin IPFS Integration Collaboration made it possible to store COS.TV Videos in a decentralized manner. For the first time, creators could truly own their own creations, and were no longer restricted by any centralized storage system. It also allowed the Contentos mainnet to provide a fully distributed content distribution and incentive mechanism — retaining the creation value permanently and providing 100% ownership to the user.
South Korea’s largest exchange Bithumb launched BP nodes, joining the Contentos mainnet BP node election. Korean users were introduced to staking on the BP nodes, and the mining revenue generated by the nodes will be distributed to users through Bithumb. Bithumb is the second globally popular exchange after Binance to join the Contentos mainnet nodes (http://explorer.contentos.io/#/bp/).
The community BP node participation plan entered its third year along with the mainnet. In the past eight months, Contentos’ seven major community nodes have grown steadily. In the increasingly fierce node voting competition, three of them remain in the top 21, and their annualized return rate remains at a level of more than 30%.
The fierce competition also means that the Contentos mainnet is becoming more complete and mature. More teams and individuals from all over the world are willing to participate in the BP nodes of Contentos. Top exchanges (e.g. Binance and Bithumb) continue to provide global high-asset exchange users with a more convenient and easy way to contribute to the Contentos mainnet.
We welcome more BP nodes to participate and provide a secure and stable infrastructure for growing global creators and users of the Contentos mainnet ecosystem.
We are crystal clear on the path ahead for us — through blockchain technology, creating an environment for knowledge exchange, distribution of content, preservation of creativity, community governance, and freedom of creation for all mankind. Accordingly, Contentos mainnet upgrades have been adjusted to meet the goals, in line with the development of our decentralized content ecosystem.
COS.TV launched the open beta web version of the Fans-Only-Content function this month. Those who are familiar with the content industry may be aware of major content platform policies in recent years and the controversy caused by centralized platforms, such as YouTube yellow label and Spotify Payola and most recently, OnlyFans, who changed the policy on paid content in response to payment processors.
In the past three years, we came into contact with many creators, and they recognized that “Passion Economy” allows them to move toward broader creative freedoms. Based on the Gifting Vote mechanism, COS.TV developed a Fans-Only-Content exclusive content subscription function. A subscription system that supports different payment methods will be implemented before the end of the year, providing creators with more freedom to generate income.
We expect more types of content creators to join and interact with fans to increase their revenue on COS.TV. COS tokens received through the Fans-Only function will also be included in our long-term burning plan, reducing the circulation of COS tokens in the market.
【Community Autonomous DAO】
The biggest difference between blockchain and traditional centralized platforms lies in transparency of information, governance, and sharing of users. These are foundational to a decentralized content ecosystem. COS.TV currently has more than 100,000 DAU worldwide and tens of thousands of content uploaded daily. We expect Fans-Only-Content to expand the diversity of content, which also makes us think about how to make our users participate in content review and distribution more effectively and efficiently on the Contentos blockchain. The answer: users’ participation in content governance.
At the end of September, Contentos Mainnet and COS.TV will be updated simultaneously, launching Contentos Mainnet 2.0 with DAO governance capabilities, allowing users to participate in content review and enjoy incentives for their efforts. This will be Contentos’ first step towards Web 3.0.
【Mainnet NFT Innovation】
In the first half of 2021, COS.TV completed the Video NFT minting function and OpenSea market integrations, and then began to support Binance Smart Chain NFT. Contentos Mainnet 2.0 will be updated to better support NFT capabilities, and further explore various potentials of Contentos Mainnet on NFT and GameFi, including new types of content and NFT transaction possibilities. The new features of Mainnet 2.0 are expected to be officially launched in early October.
【Increase in Mainnet BP Mining Rewards】
In accordance with the Contentos whitepaper, the mainnet will increase BP mining rewards annually. This was designed with the anticipation of a continuous increase in the number of users in the Contentos ecosystem, making it necessary for there to be a corresponding increase in ecosystem rewards to provide more opportunities for users to participate.
Rewards in the third year will be adjusted upwards from 53,760,000 to 80,640,000, including increases in rewards for publishing content and engagement. The distribution rules are to remain the same, and only the quantity of rewards will increase by 50%.
The node reward is calculated based on the normal block production of a single node for one full year. This reward will increase from 3,681,861 (COS+VEST) to 4,303,952 (COS+VEST), and including the additional 24,562,985 COS rewards provided by the foundation, will increase by a total of 16.9%. The new mining cycle is expected to start on 9/24.
With the daily users of COS.TV and Contentos mainnet continuing to rise, the launch of COS.TV iOS version is expected to attract even more global creators and users to participate in our ecosystem as we introduce more content monetization models in the future.
This will in turn create an ever stronger demand for COS tokens as its utility increases. In the long run, our burning mechanism will destroy COS tokens, maintaining the deflationary trajectory of the total supply of COS tokens in circulation, benefiting everyone in the Contentos ecosystem.
With the support of our global creators, BP node operators and users, the Contentos mainnet has successfully passed its first two years. This is just the beginning. With the development and completion of the four items mentioned above, we look forward to seeing the growth of the world’s largest decentralized content ecosystem!