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SPAY Tokenomics

Overview

The Script TV protocol workflow is based on the β€˜Watch to Earn’ model.

Script Glasses

Onto the protocol, users can essentially mint three types of glasses – Common, Rare, and SuperScript. The three types of glasses have base attributes:
a) Durability
b) Efficiency
c) Luck
SPAY tokens have to be burned to mint the glass. Higher the type of glass, the higher the burning cost. This is a compulsory burnable event.
Initially, to onboard users on the platform, the protocol will follow a freemium model, and 15,000 common glasses will be minted for free. These common glasses will have a fixed allowable watch time and will yield a fixed payout, i.e., similar to a base common glass with no gems. However, the user will not be able to add gems or upgrade the free mint common glass, i.e., it will remain at level 0. Moreover, the users have to stake a certain number of tokens in the protocol before they can earn by watching content on the platform.
Paid mints will follow the free mints phase after the protocol has gained users equivalent to the number of free mints. To differentiate the free mint from the paid ones, certain milestones are pegged to watch time, allowing the user to modify their glasses and enhance their reward/unit energy.
Sockets are holders for gems, which are add-ons in your glasses that can further enhance the attributes of your glasses. There is only one type of gem, i.e., efficiency gem; all other attributes are upgraded as the user unlocks new milestones. If the user wants to buy the efficiency gem, they will have to burn their SPAY tokens, a compulsory burnable event.
Mystery boxes add the gamification element to the protocol and also serves as an incentivization mechanism for the users to upgrade their levels to avail of the rewards from the mystery boxes. The referrals in the mystery boxes will increase network adoption as the incentive is monetary. To open the mystery box, the user will have to burn their SPAY tokens. This is an optional burnable event as the user can choose not to open the mystery box after claiming it, and it expires in two days.
To enable the feedback system, a voting mechanism is developed. Voting to add new content to the platform will be held after a certain number of days. Users will have to burn a certain amount of SPAY tokens to be eligible to vote. The voting power depends on the number of SPAY tokens being burned by the user.
If the user wants to buy the efficiency gem, they will have to burn their SPAY tokens, a compulsory burnable event. Mystery boxes add the gamification element to the protocol and also serves as an incentivization mechanism for the users to upgrade their levels to avail of the rewards from the mystery boxes.
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Last modified 16d ago
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