DEIP is the future of the creator economy. A new platform for creators to generate income from physical and digital assets, selling them using NFTs and F-NFTs.
DEIP is a Web3 (Web 3.0) technology platform — something you’ve probably heard a lot about in the media and amongst the investor and crypto communities — that’s changing the internet as we know it.
At the core of how DEIP will work is the DEIP token that will fund the growth of the platform, community, and facilitate the buying and selling of NFTs and F-NFTs (Fractionalized Non-Fungible Tokens) within the DEIP Community.
DEIP token: an explainer
DEIP has been created to support and advance the creator economy. On DEIP, creators and innovators, intellectual property rights (IPR) rights owners can monetize their work, and the DEIP token will make all of this possible.
Whether you are an artist, musician, video producer, or own another tangible or intangible asset that can be monetized, the DEIP platform and token can generate new monetary value and revenue streams from what you’ve created.
DEIP is a blockchain creator economy protocol, which includes financial instruments that are needed to support, empower, and enable incentives and rewards.
How does the DEIP token work?
Every token purchased whether through the pre-sales or public token sale, will be converted on a 1:1 basis into DEIP network tokens on the primary and Canary networks.
4 billion DEIP tokens will be minted at the TGE. Once these are minted and purchased/invested in, DEIP have arranged a series of allocations and vesting schedules which will be managed through smart contracts and blockchain-based, public ledger systems.
When the migration to the main DEIP networks happens, the relevant allocations and vesting schedules will stand exactly as decided and confirmed in smart contracts with all of the relevant parties, investors, and stakeholders.
What are the core functions of the DEIP token?
Similar to other native tokens, the DEIP token comes embedded with a number of mission-critical core functions. In this article, we outline the three core functions of the DEIP token:
No Web3 or blockchain-based ecosystem would be complete without the critical governance element hard-wired into the tokens utility features and smart contracts. Everyone who buys and invests in DEIP tokens will have automatic governance and voting rights. These voting rights are critical to the operating structure of the DAO-based governance structure. Elections will be held as needed to appoint validators, council members, and any referendums required to change network parameters.
As a utility token, the DEIP token is the natural and only native token of the DEIP platform. Anyone wanting to buy and sell NFTs or F-NFTs can only do this using DEIP tokens, and fees for transactions and smart contracts will be collected in native DEIP tokens. In order to have a balance in DEIP tokens for purchases and transactions users need to convert other cryptocurrencies and fiat currencies directly through the platform (once the Main Network feature is live), in the various token sales, and through staking. In time, users can also convert other currencies using the Canary Network, and an incredibly wide range of currency exchanges (DEX’s and CEX’s), when those conversion bridges are in-place.
Staking and yield farming
As mentioned above, investing in DEIP tokens can involve staking for short or long-term investment periods, as per various vesting schedules, depending on the amount being invested. Users can also invest and therefore stake on specific F-NFT segments, or portals, to farm long-term yields on the attached tangible or intangible asset.
How will DEIP tokens be allocated?
DEIP have worked hard with members of the team, investors and advisors to create the most effective distribution model possible. DEIP needs to function on multiple layers as a DOA and community-driven platform, for the benefit of the entire creator economy and the advancement of human culture and the arts, using cutting-edge Web 3 technologies.
As a result, we have created the following allocation structure, to ensure fast-moving development, a stable structure, and sufficient allocations for every activity and community we intend to support, especially creators in the long-term.
1. Network ecosystem development (62%):
- 1% Collective Intelligence Labs (CIL) Council is the operating council overseeing the development of the platform
- 2%: Awards for creators
- 5%: Regulation
- 5%: Portal-builders program
- 5%: Ecosystem fund
- 5%: Education program
- 9%: Reserve
- 10%: Developer support
- 10%: Venture capital funds
- 10%: Validators
2. Investors and community (19%):
- 2% Pre-sale
- 4% Seed
- 4% Strategic
- 4% Private
- 5% IDO/Public sale
3. Team and contributors (19%):
- 15% Team (vesting over 48 months, with a cliff period of 6 months)
- 4% Angel investors, advisors
Our investors and advisors made a massive contribution in the early stages of DEIP’s development, and they are big believers in what we are doing. We can’t understate the fact that DEIP wouldn’t exist without them. As a result, their contribution can not be understated. For the team, investors, and critical advisors the vesting period is 3 years, with a minimum of 3-month lockup.
Now let’s take a look at how and when DEIP tokens will be sold, and the relevant layers of the token sale process.
DEIP token sale rounds
#1: Private rounds
1. Seed round
Token percentage unlocked and vesting schedule: 10% at Network Launch TGE, with 1 year vesting, 3 month lockup
2. Strategic round
Token percentage unlocked and vesting schedule: 4%, with 15% at Network Launch TGE; 1 year vesting, 2 month lockup
3. Private round
Token percentage unlocked and vesting schedule: 4%, with 20% at Network Launch TGE; 1 year vesting, 1 month lockup
4. Pre-sale round
Token percentage unlocked and vesting schedule: 2%, with 25% at Network Launch TGE; 1 year vesting, 1 month lockup
#2: Public rounds (IDO)
The public round will be an IDO and we will soon announce when this is happening. Integral to this, partners of DEIP will empower a model whereby anyone can participate with a price discovery mechanism.
Unlike platforms and token launches where there are fixed prices, and too many are left without token allocations, DEIP is committed to ensure the public launch (IDO) takes place on a platform where anyone can invest/buy these tokens over a longer timescale. We don’t want anyone to miss out, especially members of the creator economy.
When can I participate?
The DEIP team will be making details public shortly about the IDO stay tuned!
Get involved with DEIP, the future of the creator economy.