At Extreme Investor Network, we keep a close eye on the latest developments in the world of cryptocurrency and blockchain. Today, we’re excited to share some groundbreaking updates from Gala Music regarding their $MUSIC tokenomics.
Gala Music, a leading player in the music industry leveraging blockchain technology, has announced significant changes to their tokenomics model. These updates are aimed at improving transparency, fairness, and sustainability within the platform.
One of the major changes introduced by Gala Music is the adoption of a dynamic emissions model for the $MUSIC token. In the past, emissions were tied to the release of new tracks. However, with this new model, emissions will now be linked to overall ecosystem activity. This means that higher engagement on the platform will lead to increased daily emissions (within a maximum limit), while lower activity days will see a decrease in emissions (with a minimum cap to stabilize fluctuations). This innovative model is designed to ensure a balanced and sustainable supply of $MUSIC as the ecosystem expands.
Additionally, Gala Music has standardized rewards for Jukebox Node operators. Nodes with a minimum uptime of 20 hours per day will now receive a share of daily rewards, eliminating the previous variability associated with track performance and the number of tracks paired. This change aims to make rewards more predictable and based on node availability rather than direct track hosting.
Furthermore, Gala Music has decided to remove the Track Upgradability and rarity system to streamline the rewards structure. Moving forward, track rewards will be determined solely by popularity and circulation, creating a fair environment where success is based on genuine music engagement. Exclusive Tracks will still offer enhanced rewards to incentivize the release of unique content on the platform.
These updates demonstrate Gala Music’s commitment to pioneering sustainable and community-driven tokenomics. The future of $MUSIC looks promising, with a focus on transparency, deeper connections between artists and fans, and decentralized growth.
Stay tuned for more exciting developments in the world of cryptocurrency and blockchain on Extreme Investor Network.
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