Emanate (Blockchain)
Emanate (Blockchain)
Emanate - The Future of Music
Emanate is an audio exchange protocol and a music streaming platform built on top EOS blockchain. Through the use of smart contracts Emanate allows the entire ecosystem, artist and other music industry professionals, to be paid in real-time.[32][33]
Token
EMT is the platform token of Emanate and a native token on the EOS Blockchain. [21]
Mission
Emanate was created to solve many of the problems faced by creatives in the music industry. It can be hard for artists to collaborate, because of the legal work needed to split up royalty payments and music rights. These issues also make it challenging for artists in different countries to collaborate.
Another issue faced by artists is the slow pace of payments in the music Industry which often takes months. Emanate's platform uses trustless smart contracts to ensure that all contributors are paid accurately and in real-time. Since all transactions are recorded on the blockchain, payments are much more transparent. Emanate's use of cryptocurrency also makes it easy to distribute payments across borders.
Dual Token Economy
Description Of Emanate
Emanate uses two tokens:
EMT token gives users access and governance to the Emanate ecosystem.
EMT is required for users who want to earn rewards while on the platform; whether artists or record labels that want to upload music, music lovers that want to support their favorite Artists, or dj's & playlist makers who wants to contribute to their followers with remixes and all the above, will require EMT tokens to be staked for any of these roles. [1]
MNX is the internal stablecoin on the Emanate Network. Rewards are paid out to staked EMT holders including artists in MNX tokens as their music is consumed on the platform every 6 seconds. MNX will not be traded outside of the emanate platform, but holders will be able to trade their MNX earnings for EMT at the rate of 1c USD per MNX. In future, additional cash-out options will be available, such as bitcoin, EOS, ETH and more.
There are a total max supply of 208,000,000 EMT tokens.
Timeline
On March 21, 2019, Emanate airdropped EMT tokens to 300,000 EOS accounts. [2]
On September 9, 2019 Emanate Alpha launched after two years of development to community of over 8000 EMT token holders and more than 3000 pre-registered platform users.
The Emanate Alpha is the MVP release, with realtime payments and smart-collaborations running on EOS main-net. EMT token holders are able to stake in The Emanate (Blockchain) Growth Pool and earn a 0.5% bonus paid out weekly. [31]