Welcome to a post full of information that will surely interest you
The MUSICFORLIFE tribe works in a linear way, basically the votes work in a correlated way to the amount of VIBES POWER you have stake.
The posts will generate a reward that will be divided 50% between the author, 50% between the curators. also 1% of all posts (after curation rewards) will be sent to @null, that is, they will be burned.
The posts will have 7 days to receive votes, and the rewards can be claimed after 7 days from the publication of the post. Depending on the configuration of the scotbot, the curation rewards are based on a linear system, we will try to make it similar to the LEOFINANCE system which seems like a win-win for authors and curators. which is basically you receive 50% of the value of your vote as curation rewards
Let's repeat the tokenomics of the tokens:
Vibes is a very scarce token and is the heart of all musicforlife.
- Maximum supply of 21 million
- Initial supply of 100,000 tokens
Now, every year in hive there are 10,512,000 blocks, our inflation is made so that every 19 blocks 1 VIBES are created for the platform's rewards. In addition there is an extra inflation of 288 tokens every 24 hours for miners.
Ergo, inflation is divided like this:
- 70% for the PROOF OF BRAIN
- 5% for the development of musicforlife
- 25% for miners.
MAX supply: 21 000
The miners receive a daily inflation of 288 VIBES as reward which means 12 VIBES per hour divided between 20 winners. The system is like a lottery, basically each miner is like having a lottery chance.
10% of the miners were given to the @spinvest team as part of the tribe funding deal, and the 90% will be sold in the hive-engine exchange (more than 50% of them are actually sold)
1% of post rewards are burned, plus our next project for musicforlife will also constantly burn tokens.
VIBES inflation is reduced by 21% every 2,100,000 hive blocks, which would be a margin of 2 1/2 months supporting our early adopters.
VIBES are extremely liquid, as you can power down all your coins in just 7 days. In addition to the fact that the plan is probably to extend the number of decimal places up to 8, in the event that the currency rises a lot in value. In addition to the fact that the rewards of the posts should come 100% in liquid VIBES, we will be talking with the manager of hive-engine tribes to help us in the configuration of that part. Maybe now they are pre-configured at 50/50 like hive
An Airdrop will take place on 1st march, we are giving away 40 000 VIBES to the community members that have been with us since our very begginning :) anyways you can still participate by being active in the community until the airdrop is done.
The next big step that we are developing is the design of a new interface based on the style of our new logos and their colors/style, we want to have our own visual identity.
The next thing would be to announce a post for the community musicians and their integration into a native radio where users can enjoy the art of our musicians and TIPE VIBES to their favorite artists. (We are already in development) We also thank @risingstargame for their collaboration in this first sink for VIBES and musicforlife. More information in a future post.