Purple’s tokenomics unveil revolutionary mechanics geared towards rewarding creators for creating, and generating local Top Charts.
Today Current X Change LLC (cXc) released Purple, a blockchain-based multi-token economy with a stated purpose to empower cocreation. This cocreation system works by providing each participant with up to 288 tokens, called SOL, per day for free. Participants then use 1 SOL to “Up” (short for upvote) content which other creators have posted to cXc.world, cXc’s map-based dapp (decentralized application).
After receiving an Up on their content, the creator is rewarded with another token, one BLUX. One BLUX can be spent to give an Up like one SOL, helping content get exposure by appearing larger on cXc.world, and also showing up on the Top charts. Top charts contain the final piece of the economy, PURPLE, which is rewarded daily to creators who make it into the Top 64 by getting the most Ups.
While supplies of BLUX and SOL are both inflating each day, and deflating as they are spent on Ups, PURPLE has a Max Supply of 35,831,808 tokens, 1/3 of which are reserved in a Creators Fund that is used to reward the Top 64 Creators for years to come.
PURPLE’s functionality lies in it’s ability to be staked for the owner’s choice of one daily Up on any piece of content or one BLUX token paid daily to their account. One staked PURPLE activates 1 Up or BLUX per day, but if you stake multiple PURPLE, you can get a much better rate, up to 6.75 Ups or BLUX per day for each PURPLE at 64 Purple staked.
Daily Ups are valuable because cXc.world only shows content that has received Ups that day, though viewers can also choose to see monthly trends, or any other time span in the “time machine”. Local charts are generated by the dapp for every Nation in the world, and in the United States for every State, County, and City.
Starting next release (Beta), Purple will work on cXc’s flagship application, cXc Music. In the future, cXc will release other media mapping applications like cXc Scribe, cXc Art, cXc Video, and more.
Purple’s designer Douglas Butner had this to say
“What’s even more exciting than launching Purple is to know that this is just the beginning. As a musician, I’m stoked to launch Purple on cXc Music because I’ve seen great music go unnoticed my whole life, including from my good friends. Looking forward and imagining this system not only helping musicians, but all kinds of creators goes beyond my wildest imagination.“
PURPLE token is now available for purchase on Alcor Exchange at the starting price of 20 WAX / PURPLE, though only 3,190 PURPLE will be listed at this price. A maximum of 1/12 max supply of PURPLE will ever be offered, always in small batches that go up in price each listing. The other tradable token, BLUX, will never be sold directly by cXc; it can only be earned on cXc.world and through staking PURPLE. BLUX and PURPLE are both available to trade and swap in DeFi pools on Alcor Exchange.
More information about the Purple economy can be found in the Purple Explainer.
💥 FIND OUT MORE ABOUT cXc 💥
Current X Change is dedicated to harmonizing Humans, Collectives, and Gaia. Our media Mapps are just the start. As we refine Purple, we also seek to redefine what it means to come together as humans and co-create. We hope you'll enjoy the tools already here, and are infinitely stoked for what the future holds.
👁️ Step into our vision
🎥 Add Music to cXc.world
💸 Get to know our Economy
🛣️ Roadmap
Trade 🟣 PURPLE/WAX ~~ 🔵 BLUx/WAX
Get a quick overview of these tokens in our Economic Brief
Top comments (2)
This is fantastic. Great work & congratulations!
Quick question;
When will it work?
..I just spent the past hr or so watching your youtube video, reading the github docs & trying to interact with both cxc.world & music.cxc.world. I was able to post a song - but not add sol to it. Nor does it seem to associate that song with my wax wallet. Never did it ask me to connect a wallet. Frustrated, I figure you haven't actually pushed your code live yet. yes?
Stoked to hear you're interacting heavily and digging it!!
You're right, we have not pushed real Sol Ups and I should have made that more clear here. Meaning lost in our lingo.
"Starting next release (Beta), Purple will work on cXc’s flagship application, cXc Music."
Purple includes 🟣 PURPLE, 🔵 BLUX and 🌞 SOL
In Alpha we just have 5-minute limited Ups.. but 🔑 you WILL get paid real BLUX for the Ups now off-chain when we launch!
So go ahead and Up and share music (at the location recorded) if you wish!
"Real" simpleassets-based Sol will start in Beta, so will PURPLE staking via Everstone NFTs and BLUX.
Was hoping to release it this month, but with the token release, it's been pushed to next month. Check up on TG / Twitter for actual date.