Emanate and EOS Network conditions
Comments from the Emanate team on the state of the network over the last week. Below we focus on answering some of the questions we’ve been asked this week.
How does EIDOS affect Emanate?
The EIDOS network strain does not have a huge effect on the Emanate Alpha platform at the moment. Payments are squashed into a queue on the Emanate servers using a proprietary method, and they are batch-processed on the EOS main-net at whatever intervals possible. Those intervals are currently lower than usual, but the payments are being processed and the music has not stopped!
Rewards
Emanate has monthly pre-sale bonuses and weekly rewards overdue. This is currently held up by the CPU demand required for ‘airdrop’ style distribution but will be resolved soon, likely completely caught up by November 27.
The final 5% monthly reward will be in Early December, at which point a further announcement will be made regarding the Weekly Growth Pool and ongoing rewards payments.
Big Picture
Most of us in the blockchain community and the EOS community appreciate that we are working with technology in the experimental and explorational stage. The Emanate platform runs the way it does even during times of congestion because we do not take an idealistic approach to decentralization and on-chain data at every step and anticipated these types of problems, and put systems in place to ensure the tracking of artist payments continues no matter what.
Long term outlook on EOS
One of the reasons we chose and continued with EOS was because of the almost unlimited options we have in the longterm. Sidechains, sister-chains, second-layer solutions, even a dedicated private or public Emanate chain based on the EOSIO open-source software.
Ultimately, Emanate is ‘For the Future of Music’ and major protocol changes can be made if needed; but only after careful consideration. Certainly not at the whim of temporary network strain.
The latest from Emanate
Over the last week, the founders have been attending a string of meetings in the USA, demonstrating the Emanate Alpha to our network of top-tier Electronic music artists, labels, management and event companies. The response has been incredible with many lightbulb moments going off between ourselves and new potential partners and investors.
We have begun the exploration of a very positive relationship with a collection agency, as well as many distributors and publishers. if you know the music business, you know this is a huge deal.
Back at Emanate HQ the dev team has regrouped after Alpha launch and the following features are being polished up for shipping very soon:
- Mandatory staking requirements for artists and music lovers
- Track and artist search
- My Emanate section (Like, follow, recent tracks)
- In app-onboarding
- Artist reporting
- Native app sooner than expected
As we approach the end of the 90-day free trial period, Artists and Music Lovers on Emanate will be asked to hold EMT and/or pay for a credit card subscription fee to continue monetizing and enjoying music on EOS.
EMT Tokens
A few token holders have asked about EMT price and liquidity recently. Since the token launched in May, the team has spent a significant budget on market-making and the various costs associated with new listings. This activity is paused for now, while we focus all efforts on development. With the first iteration of the Emanate product in market, our focus has been on music industry involvement, partnerships and large scale strategic investment opportunities.
As covered above, the utility of the EMT token will become more critical in the next stages of evolution. Most notably because anyone, anywhere will be able to monetise their music without the need for a credit card, bank account or any other music industry connections; placing their sounds right alongside some of the biggest names in the business. This has never been done before, and the EMT token plays a critical part in the enablement of this freedom.
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