Token Earning Mechanism
Token Earning Mechanism, Through the Kaira Network and the advantages behind it.
As you may be aware, they are working on a multi-chain, decentralized social network for Web 3 communities. Users may bring any PFP NFTs they choose to employ with a DID on the platform to begin creating, producing, and earning money. As a result, they can give a use case for all PFP NFTs!
New Way of Monetization: Create2Earn
The Create2Earn economic model is one of the primary value propositions of the Kaira Network platform. It is a model where users earn money by creating or curating high-quality content. This methodology has developed an incentive mechanism for content providers.
The Create2Earn economic model is based on staking tokens and using the daily ROI (provided by staking) to be the decision-maker of daily rewards.
There are 2 main ways to make money on the platform:
- Creator Rewards: Creators can post their text-based content about different topics. When community members upvote this content, the creator gets a token reward for every upvote creator gets. Basically in Kaira; every upvote you get means earning $KAIRA tokens.
- Curator Rewards: Any user who upvotes any content earns $KAIRA tokens as a curator reward. Because they bring forth the posts they upvote. In this way, users can earn by reading and upvoting other creators’ content.
They aim to use these two main ways to earn tokens and use game theory effectively on a social network.
Be A Decision-Maker for Distribution of Rewards
The Kaira Chain’s reward pool is made up of 30% of the total amount of $KAIRA tokens. This pool is used to distribute the token incentives that users will earn for generating or curating content.
In the coming years, the pool will be added to the total profits from in-platform spending as well as buy-backs. The reward pool’s token emission rate will vary based on token price.
The content creator will get 50% of the $KAIRA token incentives, and the individuals who upvote and curate the material will receive 50% of the benefits as well.
Users will get 25% of creator and curator rewards as liquid $KAIRA tokens and 75% of them as staked $KAIRA tokens.
Users’ impact on reward pool distribution is proportionate to their staked $KAIRA balance. The more $KAIRA that is staked, the more of an impact it has on how award are distributed. This method can absolutely scale every user’s reputation.
Users can automatically increase their staked $KAIRA balance by being active in the community. When their staked $KAIRA balance increases, their upvote value will rise too. This means more token rewards as curation rewards when they upvoted content with more staked $KAIRA balance.
About Kaira Network
Kaira Network is a multi-chain decentralized social network for Web 3.0 communities. Users may engage without restriction, generate content, and receive token incentives.
https://medium.com/@kairanetwork/kairas-token-earning-mechanism-80d740325f2d
