【Gala_Music】2024年GALA_MUSIC（NFT音乐平台）白皮书_25页_2mb

Gala MUSIC Whitepaper Summary

Core Content

Gala MUSIC is a blockchain-based platform aiming to revolutionize the music industry by enabling direct fan-artist interactions, providing transparency, and offering a new ecosystem for music creation, distribution, and engagement. It operates on GalaChain, a custom L1 blockchain, and utilizes the $MUSIC token as a utility token to drive participation and reward users.

Main Goals

• Empower Artists and Fans: Enable artists to connect directly with fans and gain control over their creative output.
• Decentralize Music Distribution: Allow users to host and stream music through Gala MUSIC Jukeboxes (nodes), creating a decentralized ecosystem.
• Incentivize Participation: Use $MUSIC tokens to reward listeners, hosts, and track owners for their engagement and contributions.
• Create New Revenue Streams: Offer artists multiple income sources, including primary sales, secondary market earnings, and platform incentives.

Key Features

• Free Listening Experience: Listeners can stream music for free while still being rewarded through the ecosystem.
• $MUSIC Token: A utility token with a dynamic supply governed by a bonding curve to ensure balance between supply and demand.
• Track Rarity System: Music tracks are released in different tiers (Signature Edition, Pioneer Edition, etc.) with varying supply limits and distribution multipliers.
• Ecosystem Rewards: Daily $MUSIC distribution is based on the Popularity Algorithm, which evaluates track popularity across multiple metrics.
• Community Engagement: Users can earn rewards through various activities, including sharing music, initializing nodes, and referring new users.
• All Access Store: A marketplace where users can redeem exclusive items, experiences, and content.
• STGE App: A live music companion app that allows fans to interact with artists in real time, such as through tips and meet-and-greets.

$MUSIC Token Details

3.1. Token Specification

• Max Supply: 1 billion
• Token Standard: GalaChain token, bridgeable to Ethereum as ERC-20
• Emission Type: Dynamic, based on ecosystem activity

3.2. Initial Supply

• Test Token Conversion: 75 million $MUSIC tokens were issued from the conversion of test tokens (BEAMS) at a 1:1 ratio.
• Ecosystem Tokens: An additional 75 million $MUSIC tokens were allocated to ecosystem operators for development and engagement.

3.3. Supply Recipients

• Curatorial Entity: Gala Music receives a portion of the token supply for curating and maintaining the platform.
• Hosts (Jukebox Operators): Receive 10% of the distribution for operating nodes and 25% based on listens and paired tracks.
• Track Owners: Receive 25% of the non-Gala distribution for tracks paired with Jukeboxes.
• Artists: Receive 10% of the daily non-Gala distribution based on track popularity.
• Advocates: Earn $MUSIC for promoting the platform and engaging in ecosystem-supporting activities.

3.4. Supply Schedule

• Dynamic Bonding Curve: The token supply is adjusted based on ecosystem activity, with a mathematical formula that scales supply with platform growth and token utility.
• Mint Allowance Pool: Initially filled with 150 million tokens (15% of the supply cap), with 0.15% of the pool minted daily and distributed as ecosystem rewards.
• Burn Mechanism: $MUSIC is burned through platform activities like All Access store purchases and STGE tipping, ensuring a balance between minting and burning to maintain token value.

3.5. Mint Allowance Pool

• Daily Mint: 0.15% of the pool is minted each day and distributed to ecosystem participants.
• Initial Allocation: 150 million tokens allocated at launch, with 90% distributed over four years even without platform activity.

3.6. Distribution Types

• Token Generation Event (TGE): 150 million tokens allocated to existing participants.
• Daily Distribution: Tokens are distributed based on track popularity and ecosystem activity, with a fixed ratio applied.

3.7. GalaChain and Gas Token

• L1 Blockchain: GalaChain is used as the platform's L1 blockchain.
• Gas Fee Token: $8 GALA is used as the designated gas fee token for seamless bridging and efficient operations.

3.8. Key Features of GalaChain

• Near-Real Time Settlement: Low gas fees and sub-second latency.
• Semi-Permissioned: Enhanced security and customization.
• TypeScript Contracts: Easy channel management and token creation.
• Low Carbon Footprint: Efficient blocks that reduce environmental impact.

3.9. Token Audit

• Certik Audit: Verified ERC-20 compliance for $MUSIC.
• Verified Functions: Includes 'transfer', 'transferFrom', 'approve', and 'allowance' for secure token operations.
• BalanceOf and TotalSupply: Verified to reflect the contract's internal state accurately.

Ecosystem Reward

4.1. Platform Allocation

• Operational Needs: 50% of daily mint is allocated to cover development, marketing, events, and partnerships.
• Remaining 50%: Distributed to ecosystem participants based on their contributions and track popularity.

4.2. Distribution Breakdown

• Jukebox Operators: 10% for node operation, 25% for listens and paired tracks.
• Track Owners: 25% of non-Gala distribution for tracks paired with Jukeboxes.
• Artists: 10% of daily non-Gala distribution based on track popularity.
• Supportive Ecosystem Actors: Rewards for actions like sharing music, initializing nodes, and referrals.

Popularity Algorithm

• Rewarding Success: The algorithm determines the popularity of tracks based on on-platform and off-platform streams, unique listeners, exclusivity, and social virality.
• Variable Ratio: On-platform streams have a higher weighting in the calculation.
• Track Tiers: Tiers (Signature, Pioneer, Limited, Standard, Open) influence the distribution amount and rarity of tracks.

Earning Eligibility

• Jukebox Operators: Must maintain 20 hours of daily uptime and have a valid track-Jukebox pairing.
• Track Owners: Must have a valid pairing and at least 10 monthly listens (logged-in state).
• Artists: Must have a qualifying track hosted in the ecosystem.

Track Rarity

• Track Tiers: Each tier has a specific supply limit, price, and distribution multiplier.
• Signature Edition: Lowest supply, highest multiplier, requires 100 listens to upgrade.
• Pioneer Edition: 300 supply, 15 multiplier, requires 200 listens to upgrade.
• Limited Edition: 1000 supply, 10 multiplier, requires 300 listens to upgrade.
• Standard Edition: 3000 supply, 5 multiplier, requires 400 listens to upgrade.
• Open Edition: Unlimited supply, 1 multiplier, no upgrade requirement.
• Legacy Tracks: Not eligible for new supply tiers, only available in their original form.

Pink and Entry Tiers

• Pink/Common Tier: Unlimited supply, can qualify for distribution rewards based on the Popularity Algorithm and pairing with Jukeboxes.
• Entry Tier: Required for self-serve artists to release tracks. Tracks in this tier do not qualify for distribution rewards but can be upgraded to Open Edition, granting free access to higher tiers.

Ecosystem Boosts

• BT Orb Bonus: Holders of Limited Edition BT Orbs receive a 0.0125% bonus on daily distribution, which is cumulative and unlimited.
• Open Edition BT Orb Bonus: Receive 10% of the Limited Edition bonus.
• Node Slots: Future enhancements will allow BT Orb holders to get additional slots in their nodes, which stack.

Token Utilities

• All Access Store: Users can redeem items, experiences, and content using $MUSIC.
• Loyalty Points: Not explicitly detailed, but implied to be part of the ecosystem's engagement mechanisms.

Conclusion

Gala MUSIC aims to create a decentralized, interactive, and rewarding music ecosystem. It leverages blockchain technology to give artists and fans more control over their interactions and monetization. The platform is designed to grow with the community, offering a sustainable token economy and an evolving set of features and incentives to drive participation and engagement.