Gems

There will be three gems each being unlocked every 10 levels such that gem 1 unlocks at level 10, gem 2 at level 20 and gem 3 at level 30. Users will have to buy gems from SPAY tokens and the proceeds will be burned. Users with gems will be eligible for weekly rewards. The protocol will have three reward pools for each gem level. The amount of SPAY to be funded to each of the pools will be dynamic and initially determined by the protocol. Each user holding a gem will be eligible to obtain a share of the reward pool based on the watch time. The reward distribution formula is defined as:

The reward is for a defined time period. ‘Wu’ is the watch time of the user i.e. the number of minutes the user has watched over a given time period. ‘Wt’ is the total watch time on the protocol by all users holding the gem of that particular tier. ‘P’ is the amount of SPAY in the reward pool and ‘n’ represents the gem tier.