The PME token is the Peeps Social Platform native utility token, which is based on the Ethereum blockchain (ERC-20). Since the Platform is built on the ultra-scalable L2 Polygon - interactions with the Platform are seamless and very cheap. As a social utility token, PME enables creators from around the world to share their content with followers and get rewarded for it in cryptocurrency. On the other hand, users/followers can watch and bet on success of their favourite content anonymously, by paying with PME token for it.
Every paid transaction such as a subscription to a channel or creation of an NFT will be divided into the following:
80% in $PME Go directly to the Owner of the Channel (Content Creator). 16% in $PME Go back to the Users who Stake on the Channel (#NameStaking). 4% in $PME Are instantly burned.
80% in $PME Go directly into the Community Rewards Pool. 20% in $PME Are instantly burned.
Name Staking is a social proof feature on the Peeps Platform that endorses a content Creators channel. Users can stake their PME token on any channel and share the success of their favourite creator by getting a yield. It is an internal vehicle of the platform that drives creators to produce more quality content for their followers and paid subscribers.
The Peeps Social Platform is permissionless and trustless. There is no middleman, which gives content Creators the ability to share their success with followers and fans. Followers, who also stake on their creator’s channel, will receive a yield that is being taken from of all generated commissions for paid features, such as subscriptions. Some paid features are going into the main liquidity fund, whose faith will be decided by governance votes.
Other than the #NameStaking feature, Peeps also has a range of other paid features, which are mainly derived from direct interactions between Users and Creators, NFT sales and its royalties, tipping emerging creators and helping, Channel sales and many more soon to be announced features.