Emanate project update
An update from the founders as Alpha approaches
The Emanate community is eagerly awaiting Alpha, and we’re greatly appreciative of the patience shown by everyone. Good things come to those who wait!
The cool thing about building a dynamic piece of software like Emanate, is that we don't even know all the things the community will do with it, and exactly how it will be used. We can’t wait to find out!
Last week the team deployed all of the Emanate application contracts to the EOS mainnet, and we wanted to share some thoughts that have come to mind recently. Hopefully, you find some of it interesting.
The promise of Blockchain
We’re not crypto OGs, and we’re happy to confess that. We each got pulled in gradually from 2014–2017, buying some bitcoin and checking out ethereum, listening to talks from Andreas Antonopoulos about the potential of micro-payments, smart-contracts and decentralised governance. These things were always a key part of the plan for Emanate, but as it turns out, these three things have become the key USP pillars and Emanate is on tracks to provide some of the finest examples of these in the world:
Artists on Emanate get paid as their audio is consumed, currently every 6 seconds. Part of the delays to our production have been from making this infinitely more scalable, using some clever off-chain processing. We wish to pay artists in realtime, but we don’t wish to jam up the main-net! This is now ready:
Putting real-world contracts on-chain
Emanate ‘smart-collaborations’ are a prime example of smart-contracts being used to execute law in code. Two or more parties have agreed to split revenue certain way, the code makes sure the agreement is honored and executes it autonomously and in realtime. What’s more, an irrefutable record is created on a public ledger to show that this agreement took place. This was not initially something that was really a focus for us, but it may prove to be one of the most valuable features to creators:
There are two outcomes of this:
- If an artist uses Emanate as the very first place they share a piece of work, there is a public record of it being theirs.
- Through the contracts agreed by all parties, the micropayments are split instantly. Right now, this has been tested with up to 5 parties but has an arbitrary limit of 50 parties.
Emanate’s road to full decentralised governance will be long but steady, that said, we are starting now. This week we will name the first round of Emanate Representatives, a process that has been influenced heavily by community voting. Our plans for the EMC were shared last month here on medium. Our aim to eventually have complete on-chain voting for custodians including custodian-held multi-sig agreements for all key contracts. We’ll be modeling against standards that have been set high by eosDAC and the Telos Foundation.
But we’re also breaking convention
For an Alpha release, the team have placed great emphasis on the meeting point between UX and Blockchain. Something that is much needed in the space. In an ideal world, every artist on Emanate would own their own EOS account and would sign their own transactions. We’ll put significant weight against longterm on the education of this, but for now, we don’t want the friction associated with it. Artists and fans can get started on Emanate without an EOS account, just using an email address and password. The Emanate Reps and community will help artists buy, earn and keep their EMT and get started with their own EOS account.
Announcing Emanate Growth Pool
With users signing up intro and trial accounts without any EOS or EMT, how are we preserving tokenomics? That where the Emanate Growth Pool comes in. Starting around the same time as Alpha launch, any EMT holder can stake EMT into the Growth Pool to receive 0.5% bonus rewards paid weekly.
In the coming weeks we will publish more details about the Growth Pool and different account types and of course, keep your eye out for Alpha which will be released initially to our discord community being deployed to emanate.live.
Emanate is going from strength-to-strength. With the product nearly ready for the initial release, we currently have more funding than ever before and we’re so close to signing deals with some of the biggest names in electronic music who will be joining Emanate not just as partners, but shareholders! This has been six months in the making, but will be well worth it.
Hold tight, thanks again, see you soon.
Sean, Trent, Jimi
P.S. Don’t let the EOS mainnet decay into a vote-buying competition, led by those with the deepest pockets using unconstitutional practices. If you don’t know how to vote, consider voting via the Goodguys Proxy or the Brock Pierce Proxy.