Getting Tokens powered by music

Music Listening

Music Listening

The wealth in Celody is powered by listening to music streams. If you listen to a Celody stream (including FORREV streams) for a certain time period, you will automatically generate tokens. In other words, humans listening to music is what powers the wealth inside Celody. The minting process of tokens comes through people wanting to listen to music. Stop listening and you stop wealth.

Digital Features

Token Owners

Whenever a block of tokens is generated, the tokens are split between several owners. Some tokens go to the session user. Some tokens go to a random digital person. And some tokens can go to an artist. The actual split between the various owners is determined by Celody Laws. These laws are voted on by the token holders within Celody. All laws are embedded in software and run programmatically.

Human Control

User Sessions

Celody does not have a login to store a person's identity. Instead, Celody uses a 24 hour session window for all users. When you first load the celody.com website and start listening to music, you automatically start your session. Any tokens you accumulate are tied to your session and must be spent or withdrawn during the session. If you exit the page or breach 24 hours, your session resets and your tokens expire.

Born From Music

Celody Wallet

Celody has a built-in wallet to manage tokens. Within the wallet you can: withdraw tokens, import tokens, transfer tokens, check your balance, or generate a receiving address. The actual wallet actions are determined by Celody Laws. These laws specify the maximum and minimum wallet amounts (e.g. maximum withdrawal per session). Celody's wallet uses a concept of keys and addresses to manage tokens.

Born From Music

Keys & Addresses

To withdraw tokens from a session, you generate a 160 character private key. Keep this key securely stored because it provides access to your tokens. If you lose your key or it becomes exposed, there is no backup. The tokens are lost. Celody does not keep a copy of the key. For more security, Celody provides the option of adding Google Authenticator 2FA to all keys as a second form of authentication. So if you want to access your tokens, you'd need the key and a time-based code. If you want to transfer your tokens from 1 key to another, you generate a 50 character public address. The tokens go from the sending key to the public address. And then the tokens can be accessed by the receiving key.

Economics

Token Economics

Celody tokens are allocated in a simple manner that encourages humans to just listen to the music they like (while also discouraging bad actors). There is a maximum number of tokens that get dispersed in a given time interval. So the more streams that are being listened to creates less tokens given per stream. The more people listening also lengthens the required listening period before tokens are allocated. Finally, Celody uses randomization in allocating the tokens to further discourage bad actors. It should be noted that there is no fixed amount of tokens generated per time period. If no one is listening to any music, no tokens will be generated.

Digital Features

Artist Rewards

Artists can submit their music to Celody. If an artist meets the Celody requirements (including copyright) then the artist is eligible to receive tokens when people listen to music. Tokens are automatically generated to artists in the same manner they are allocated to digital people - through a process of randomization and Celody Laws. Tokens are not proportional to streams of an artist's song. Listening to a song (by Artist A) most likely will generate tokens for a different artist (than Artist A). Celody's process ensures that all verified artists should eventually receive tokens. And the difference between a "superstar" artist's tokens and a "longtail" artist's tokens is defined by a Celody Law.

Spending

Spending Tokens

Whenever a token is spent, either by a human or a digital person, the token gets transferred. Many of the actions in Celody require a certain amount of tokens to be spent for that action to be allowed. For example, tokens are required to mate and have kids in Celody. And tokens are required to chat or change personalities. When tokens are used, Celody then triggers a random process for redistributing the spent wealth. The ultimate sink of tokens are digital people. Humans trigger the generation of new tokens by listening to music. But all tokens have a gravity pulling them to digital people when spent.

Next: Using Tokens