SpankChain
Putting Adult Entertainment on Blockchain
Overview
SpankChain is an adult entertainment ecosystem built on the Ethereum blockchain. Its enables many benefits of blockchain technology, such as privacy, security, self-sovereign identity and economic efficiency to the adult entertainment industry. It employs a dual token mechanism with SPANK and BOOTY tokens.
How Does SpankChain Work?
SpankChain ecosystem employs a 3-layered approach to The SpankChain ecosystem possesses a tiered architecture featuring three layers:
- SpankChain Core
- SpankChain Services
- SpankChain Applications
SpankChain Core
Core is the base infrastructure of SpankChain which enables basic functionalities necessary to operate a streaming or static content distribution application, namely a user profile system and payment capabilities.
SpankChain Services Layer
SpankChain services layer hosts a number of services which add enhanced
functionality to applications built upon SpankChain Core, including payment channel hubs, age verification, live video, an ad network, an affiliate network, indexing/search, and an interface builder.
SpankChain Applications
The applications layer in SpankChain is a collection of branded interfaces that tie together underlying pieces of the ecosystem to attract paying audiences.
The first applications of SpankChain are being build by the SpankChain team itself. Here is a bit more on them:-
Red Light District
A joint venture between District0x and SpankChain, Red Light District is a marketplace that will enable performers to upload and sell digital content directly to their fans.
Spankchain Camsite
SpankChain team will work on building its own camsite where s. Users will be able to join public shows for free and pay in tips, or they can pay per second to get access to private and group shows. The unique feature, this camsite will charge only a 5% fee on model earnings a huge deviation from 30–50% usually charged by traditional camsites today.
Token Mechanism
The SpankChain’s two token: SPANK and BOOTY. The SPANK token is used for staking and governance. The BOOTY tokens are earned by staking SPANK tokens and are used by performers and platform businesses to pay their fees. Along with this, Performers and platform businesses can also pay their fees in BTC/ETH.
The amount of BOOTY generated and distributed to stakers by the smart contract is dependent and automatically adjusted based on the amount of BOOTY being used in the system. The amount of BOOTY earned by stakers in the ecosystem is directly proportion to the duration of staking.
SPANK Token Sale
SpankChain held a token sale in which the project raised $23.8 million selling 30% of the total token supply.
The total supply of SPANK token is 1 Billion.
Team
Ameen Soleimani is the Co-Founder and CEO of SpankChain. Prior to this, he as a software engineer at ConsenSys where he worked on projects such as peer-to-peer energy markets,
decentralized hedge funds, state channels research, and AdChain. Before getting into Blockchain, he was the founder of Filter, a personalized news reader. He is an alumnus of Rensselaer Polytechnic Institute,
William Bentley De Vogelaereis a serial entrepreneur with a track record of success and acquisitions. Currently, He is serving as the co-founder and and director of product at Spankchain. He has played a key role in several startups and his most recent was acquired by Pulse Radio.
