A virtual Token, with real life value, rewarding the entire web ecosystem
Introducing PUBLX token
Creating a new Web Economy
PUBLC creates a new ecosystem, where content creators, users, brands and personalities work together, take part in building the platform, and are rewarded for their contribution.
In order to do that PUBLC launched PUBLX its own ERC-20 token on the Ethereum blockchain, which acts as the only form of payment on the platform. The tokens are given to PUBLC’s ecosystem who take part in creating its value, earning them 90% of all the tokens distributed.
A closed circular economy
When the token (PUBLX) was launched, 100B tokens were minted and deposited into PUBLC’s Token Reserve. No tokens were pre-allocated to any party, and no tokens can be bought directly from the Reserve. The only form of distribution to circulation is as payment to the ecosystem for value provided.
PUBLC pays the ecosystem for the value they provide to the platform, and is paid by businesses for services provided by the platform.
Payment for services
All business services are paid internally in tokens. Businesses who haven’t earned tokens will need to acquire them from someone who has. The services’ fees are then paid to the Token Reserve, completing the token cycle, which takes the tokens out of the circulation and creates deflation.
Payment to the ecosystem
The tokens are distributed to the ecosystem for their contribution in building and promoting the platform, triggered by clicks on content. The larger the use of the platform, the more tokens there will be
How the token works
The token value is derived from its demand by businesses where the token is used to buy PUBLC’s services. The tokens are created by a Smart Contract, which acts as PUBLC’s “Token Reserve”, creating 100B tokens since inception. The only form of token distribution is based on content clicks.
As the platform grows and more tokens are distributed from the Token Reserve into circulation, the less tokens are distributed per click. If at the beginning 10M clicks distribute almost 1B tokens into circulation, later on it would take 300B clicks to distribute 1B tokens.
Click reward - For every valid click, the platform calculates the click reward and divides it between the content’s beneficiaries. The reward is calculated based on the amount of tokens in the Token Reserve, using an Exponentially Decreasing Function. It starts from 100 tokens per click, and tends to ~0. The more tokens distributed, the more the click reward decreases.
As PUBLC grows in users it becomes more attractive to businesses who are acquiring tokens to buy services. When a business pays for services, the tokens are paid back to PUBLC’s Token Reserve, thus increasing the Click Reward, and further increasing the value of the remaining tokens in circulation.
Revenue distribution through Usage
Tokens are distributed for actions that represent value, measured by clicks on content, rewarding all the people that took part in that content and helped it get found.
The creator of the content, as a blogger, musician, YouTuber, etc., earning for the use of the content.
The platform on which the content is hosted (e.g. YouTube, SoundCloud, Medium, regular website)
The users who categorized the content, thus contributing to it becoming better found.
The page that the click came from. Pages could be of a celebrity, brand, or a generic topic.
A non-profit foundation who’s in charge of promoting the platform and supporting the ecosystem.
The company in charge of developing the platform and technology.
Business services are paid in Fiat and converted to Crypto
In order to ease the adoption of businesses, PUBLC’s business methodology is adapted to the common practices used throughout the web.
Priced & Paid in Fiat
Businesses need to understand how much they are paying, that is why all services on PUBLC are priced in USD, in order to be constant and stable. Businesses can seamlessly pay with all common methods such as credit card, PayPal, etc.
PUBLX - USD Conversion
While the prices remain constant, the only thing that changes is the amount of tokens that they're converted to, which depends on the PUBLX/USD price at the time of action. When a business pays $1 per click for promoted content, that could internally be converted to 100 PUBLX if the price of PUBLX is $0.01, or 0.1 PUBLX if the price of PUBLX is $10.
PUBLX Liquidity Pool
We are using Uniswap Exchange to facilitate the conversion between USD to PUBLX, which is always liquid. Paid Fiat USD by businesses are converted to USD stablecoin will be automatically swapped on Uniswap for PUBLX token based on the current market price. Having funds constantly sent to PUBLX’s Uniswap Exchange also increases the token demand, and gives the value back to the ecosystem token holders.