Allowable/Earnable Watch Time
To control the overall emissions of the reward token, there are specific caps on the daily watch time, which vary across glass types. This means each glass holder, whether common, rare, or superscript, has a daily watch limit for which the payout can be earned. When a user reaches the limit for the day, he cannot make more in a payout. However, he can still keep watching content without any rewards. This allowable/earnable watch time is different for each glass type, and it can be seen in the following table:
Type of Glass
Max Allowable/Earnable Watch Time (in mins at max level)
To be a part of the ecosystem and watch content on the platform, the user has to lock a certain amount of SPAY in the protocol. This holds for both free and paid mints. However, the amounts will differ based on the mint's nature. The quantities required to lock in each glass type are shown in the table below:
Type of Glass
For the freemium model, the locking period will be 30 days, after which the user can claim the SPAY initially deposited. For the paid mints, the user will lock SPAY to be a part of the ecosystem. The deposited SPAY can only be unlocked when the user wishes to exit the ecosystem. To watch content on the platform and earn tokens, the user has to lock a certain amount of SPAY as an initial investment.
To establish a feedback system for the user and improve the platform's services, a voting mechanism is introduced in the protocol. The voting mechanism allows users to vote on new content being added to the platform. The process is straightforward. Voting will occur after a specific time, and to be eligible to vote, the user has to burn a certain amount of SPAY tokens. The more tokens burnt, the more voting power the user holds. The burn cost will increase by a certain percentage each voting period. It is essential that 80% of the glass holders vote on adding new content to the platform at any point in time. If users don't vote and the threshold amount is not attained, the protocol will burn tokens to do the voting and select content on its own.
Since the token's value is directly related to the number of content people watch on the platform, it is essential to disincentivize users who hold glasses and do not consistently watch content on the platform. This problem not only halts network adoption but also reduces rewards for the existing users by lowering the demand factor. To cater to this issue, the protocol monitors users' watch time every week. If the cumulative watch time of a glass (user) is below a certain threshold, the protocol will auction the NFT on the secondary market.
The protocol will use a certain percentage of proceeds to burn the tokens, and the remaining proceeds will be returned to the user. The protocol will ensure that the time set for the auction factors in the exceptional circumstances or events when the user is not able to watch content on the platform.