Creator economy currency
Being a blockchain protocol, Creator Economy Protocol requires financial instruments to enable incentives and rewards. DEIP token is a native token in the DEIP network, an it serves three major functions:
DEIP token is a native currency that is used as a means of payment in any financial transaction (e.g. paying transaction fees, smart contracts, etc.).
As a governance token, it provides holders with voting rights for the election of validators and council members, and for the adjustment of the key network parameters through referendums.
Staking and yield farming
Network participants can stake DEIP tokens on a specific N-FNT segment (or specific portal) in order to farm the yield of the underlying intangible assets.
To become a council member, any account in the network has two options — participate in an auction or take over a seat from someone. Each seat is granted for 12 months and then is allocated for another staking competition. The initial 12 seats are allocated via the first staking competition. Every 12 months, 3 more seats in the council will be created and allocated via a staking competition. The total number of seats in the council is limited to 30. As such, 6 years after the network launch: all 30 seats will be allocated and the protocol will stop creating new ones.
For those who’ve got a seat, their stake is frozen for the next 12 months and unlocked gradually. At any time anyone can compete for a seat by staking X (where X is greater than 1) times more than the stake of the seat owner. It reduces the time a seat is reserved by a current council member by X times and accelerates vesting.
DEIP Ecosystem Fund is a DAO governed by the DEIP council. It accumulates a part of investment transaction fees to be further invested in tokenized assets in the DEIP network. Each investment decision must be approved by 2 council members to be processed. To liquidate a position, 3 council members must approve the transaction. After the liquidation of a position, 20% of the profit goes to the council members who performed the initial investment transaction. The rest of the profit goes back to the Ecosystem Fund for further investment.
Every account in the network can stake DEIP tokens on a specific asset category to increase the amount of funding allocated to this category from the Ecosystem Fund. Capital allocations to various asset categories is proportional to the amount of DEIP tokens staked for each category. The Ecosystem Fund shares 5% of its profits with accounts participating in staking and creates an incentive to stake in asset categories/segments that generate the most profits.
In the near future, most assets will be tokenized and will live in the Web3 space. To make this a reality there need to be special gateways into Web3 for tokenized intangible assets: portals.
One single portal will not suffice for all types of assets as every segment of the creator economy has its own communities, rules, and types of assets it produces. Thus, there needs to be various portals which specialize in specific types of intangible assets within the creator economy.
Each portal will ensure that the assets approved for registration have real value. To guarantee the quality of assets being brought to the network through the portal, the portal operator makes a security deposit by staking DEIP tokens.
Modular low/no-code portal builder
Web3 Constructor is a modular open-source framework to rapidly build Web3 portals for tokenized intangible assets. It can operate in no-code or low-code modes and was built with the intention to drive the adoption of the DEIP network and growing the ecosystem of portals.
- Admin panel and setup wizard
- Drag-and-drop portal builder
- Easy integration of existing modules
- Ability to use third-party modules
- JSON configurations
- WASM smart contracts
- Ability to customize existing modules
- Open API for integration with third-party services