Fan to Artist staking

We designed a token mechanic to give artists more power to control their community and segment it, figuring out how many real engaged fans they have and how much they are willing to spend to stay at the centre of the community.
At the same time, fans can benefit from the token mechanics because, as never before, they will be able to play an active role in the community of their artists and, according to their level of involvement, even have more direct interactions. The token mechanics work as follows.
Fans will have the option to stake their tokens towards their favourite artists. However, in exchange for the staking, they don’t receive a financial reward but a set of benefits decided and issued directly by the artists. Instead, a financial yield (in JTP) is sent to the artists to which the JTPs are staked so that artists have a big incentive to benefit their (staking) fan base. In details:
  • Fans are incentivised to stake JTPs toward their favourite artists to stay at the centre of the community and receive benefits from those artists. Furthermore, since they demonstrate, with the staking, a genuine interest in the ecosystem, they will gain voting power for governance decisions. Fans will receive voting power proportionally to the number of JTPs they have staked and the locking period they have decided on. The voting power will not be tradeable, so the only way to acquire it is by being active actors in the ecosystem. More details about this is in the section dedicated to Governance.
  • Artists are incentivised to give benefits to the fans that stake JTPs because they receive a JTP yield farming proportional to the number of JTPs staked by their community. Furthermore, they will have more benefits on the platform decided by the decentralised governance.