Funnychain Economy in a nutshell
What’s the LOL Token? How can i use it?
The LOL Token is how every users will be rewarded for using our platform, and the key currency inside funnychain.
Liking, investing on memes will make you earn LOL Tokens, and its worth depends on the company revenues as the advertising revenues will automatically buy your LOL tokens. With the LOL token you can:
- Buy promoted posts (Sponsor your own content or meme into Funnychain for a certain period of time).
- Buy a premium account (Giving you a unique status, and removing all the ads)
- Invest on memes
- Exchange it against FIAT currency (US Dollars)
How are you going to get paid?
Everytime a funny content gets from the fresh page to the hot page, we emit tokens rewarding :
- The meme creator
- The meme upvoters (likes)
- The meme investors (rewards depending on how much they invested).
Our Decentralized Popular Sorting Algorithm (DPSA) automatically select the best memes from the fresh page depending on many factors (likes, timing,etc…). But the amount of LOL tokens that you own has no influence on the platform: we aim for a fair system.
All of our users will then earn LOL tokens. These LOL tokens are ERC20 tokens that will be exchangeable in an exchange that will come out in the next update. You’ll also be able to directly exchange your LOL tokens to US Dollars with paypal, but for a certain fee.
What is worth the LOL Token?
For the moment, we just released our beta and the project itself so it’s not worth a lot. But we advise you to hodl, as it will be worth money as soon as we launch the exchange and ads.
However from our forecasts in 4 years :
1 LOL Token = 1$
- The value is backed up by advertisement revenues in our platform (with sponsored posts) and meme investors.
- The more the company grows, the more we can redistribute to our users.
How can I buy LOL Tokens?
You may buy it from our exchange that will be ready in the next update. In the meantime, if you are interested in the project you may also contact us at contact@funnychain.co.
Why Blockchain ?
We are rewarding and paying our users, and as long as money is involved transparency is necessary.
We believe there’s no true currency without trust from the currency holders. Trust = Transparency = Cryptocurrencies
While Google services are mostly free, you do not know where your data is going and how they are using it. Thanks to the blockchain technology, with Funnychain we’ll show you exactly what’s our money flow.
Why memes and funny content?
Because we want to focus on funny stuff!
We look at it everyday and we know how awesome and viral this is. Memes always create the buzz all over the web.
