Not long ago I wrote about “How Rewards Will be Distributed in Contentos’ Content Ecosystem”, now I’d like to talk about how COS can be earned in current Contentos’ Content Ecosystem.
1. The creators come first.
This is the main way which Contentos hopes the users will continue to acquire COS. After the MainNet launch in September, 35% of COS (3.5 billion) total token supply will be distributed across 12 years to our ecosystem and community in the form of incentives from content mining. The only way to get more COS is to contribute quality content and to engage more in building the community and providing feedbacks. The annual production of COS is incremental throughout the next 12 years to ensure the content creators who joined later can still get rewarded by the newly mined COS.
2. Election of block producers.
Contentos will be testing the function to vote for block producers in the upcoming v0.3 TestNet launch in June. Rules with regards to the election of block producers will be made available in August. To vote, users will need to convert their COS into VEST on 1:1 ratio. Converting COS to VEST is immediate; however, reverting VEST to COS will require some time. The selected block producers will have the following privileges:
- 15% of the total content mining rewards from the 35% of overall COS token (3.5 billion), will be distributed to block producers as the initial compensation. For example, if 44.8 million COS are mined in the first year, the 21 block producers will receive 3.88 million COS annually on average. To our estimation, the cost of block producer deployment is 4 thousand USD per year, by utilizing an m5.2xlarge, 8 core, 32G server. The compensation should cover the cost.
- There are two main parameters in content mining ecosystem reward formula:
I. UpVote: it doesn’t cost any price, but it has limit. Upvotes contributed by a user with more VEST will contribute more to the earnings of the creators.
II. GiftingVote: We encourage fans to use VEST to purchase GiftingVote and reward them to the creators, so as to increase the rewards received by creators. There is no limit to GiftingVote, the more the better. And the VEST generated from the selling of GiftingVote will be distributed to the block producer as a revenue according to the block ratio.
3. Directly affects the ecosystem parameter, determine the key data in the system (free endurance value, free amount of gifts, the account set-up fee)
3. Incentives for participating in campaigns in Contentos’ ecosystem.
For example, the tasks in Cheez, the PG points in PhotoGrid is converted to COS or the current sign-ins/opening treasure chests on contentos.io, even in the future COS2048 or other games. These ecosystem products are all equipped with a small amount of COS to motivate and educate users on what COS is and the value of it. At the same time, we expect to officially launch COS and participate in the opening of treasure chest or the website revenue dividend plan by the end of July, so that users can also support the long-term value of COS and be further incentivized.
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Medium: Mick Tsai