Ḽava AI: Proof of Content
Thanks to Eutychia we were finally able to mint our token and launch our website that serves as the Ḽava AI content curation platform.
Ḽava AI is a new token based on the Solana chain that rewards people for content curation. It makes content curation economically visible.
How does it work?There are 2 ways you can participate in the Ḽava economy:
- Buy and hodl
- Get some and submit content or upvote content that you believe will make it into the top 10% of content by the epoch's end
Details:- A. Each epoch is 4 days, exactly 96 hours.
- B. Anyone who closes the epoch gets a 77,777 ḼAVA bonus paid directly from the reservoir.
- C. The reservoir oscillates between two phases: Cryptodoming and Eruption.
- D. When the phase is Cryptodoming, the reservoir is gradually collecting ḼAVA and replenishing its balance over many epochs.
- E. When the reservoir is in Eruption phase, up to 150% of pay-ins that epoch may be paid out, depending on reservoir balance. Typically this is true unless a bunch of whales were to hypothetically ape-in in one epoch together, then the reservoir could in theory bottom out and go to zero — obviously the reservoir can't pay beyond its balance.
What is the "product" of Ḽava AI?Where Bitcoin has Proof of Work, and others Proof of Stake, Ḽava AI is Proof of Content.
The top 10% of content submissions are immortalized on the Previous Epochs rankings lists. And the top 100 items are forever immortalized on the all-time chart, the Cindercone.
Content can be anything you can link to: music, movies/films, posts, images, free games for example, offers made by for-profit companies—it's an open creative challenge to link to something that will get into the top 10% of results for that epoch.
Everyone who posted something in the top 10% and everyone who upvoted that stuff gets rewarded. So even if you did not submit something yourself, if you upvoted it, you get a slice of the payouts.
What drives the token's value?Value is based on the quality of content submitted. The historical ledger of submissions is an emblem of the value that the platform coalesces into one, unified place. Over the Long Now, people will be able to return to the top-ranked content over the many epochs and find great things to enjoy. Curated content for everyone.
(We plan to mirror content, eventually, so dead links are not an issue long into the future.)TokenomicsTotal supply: 77,777,777,777 (77.77...B) — no more minting.
- 22.22B — founder allocation and marketing budget
- 11.11B — offered as very affordable $0.00010–$0.00012 USDC / ḼAVA initial economic seed offering
- Some allocated for airdrops to people from our alpha platform version
- 41B — remaining, held in the volcanic reservoir, accessible only by "playing the game": submitting content, upvoting content, and landing in the top 10% of content submissions by the close of the epoch on day 4
The epoch resets, the bonus payout is triggered, the leaderboard/feed of submissions is cleared, and the game starts over on the next epoch.
The reservoir oscillates between an upper threshold and a lower threshold. The contract guarantees 88% payouts of pay-ins every epoch. 150% is an optimistic ceiling on payouts (ratio to pay-ins) for when the reservoir can comfortably provide it. In theory, unless a bunch of whales ape-in all together in concert, the reservoir should comfortably be able to accommodate both Cryptodoming (consolidation) and Eruption (overflowing) phases.
The mechanics of the reservoir are specifically designed to sway in a way that could in theory eliminate the typical boom-and-bust cycles of most cryptocurrencies.
Magmastatic PressureWhile there is no "staking" in the conventional sense, Ḽava AI provides a bonus for consolidation of ḼAVA tokens into one, singular wallet. It is the Whale Multiplier. If you have up to 700M ḼAVA in one wallet, your whale multiplier is 20x. That means when you upvote a post, your nudge is 20x stronger than a normal nudge—but you are also risking more ḼAVA in the upvote or posting a submission.
What it is...The cost to post and the cost to vote are always 0.1% of your wallet. So if you start with 1000 ḼAVA and upvote 100 times, you'll have about 30 ḼAVA left after 100 upvote actions.
Posts have a minimum fee of 10 ḼAVA, while upvotes are always 0.1%. If you have more than 1000 ḼAVA in your wallet, posts are also 0.1% of your wallet.
This ratio-of-your-wallet as the price-for-action keeps things very interesting. If you wish to use less to upvote a post or submit a post, you must transfer ḼAVA to a fresh wallet (easy via Solflare, for example).
For every action, you do need a tiny bit of Solana to fund the gas fee—for posting, voting, triggering the end of the epoch, or sending ḼAVA to a new address, some Solana is required (on the order of fractions of a USD penny).
Ḽava AI leans fully into the volcanic theme end to end—Magmastatic Pressure for ranking, Eruption and Cryptodoming for the reservoir's two phases, the Cindercone for the all-time leaderboard. Every mechanic borrows its name from geology, not just the branding. Ironically, and perhaps somewhat astonishingly, the term "cryptodome" is a geological term referring to a body of magma that rises from the depths and intrudes into the edifice of a volcano, but does not erupt.
Always verify the mint before trusting any token claiming to be Ḽava AI:LavaAi5oUfQjs4wiUf8rmfzg5eTRt5QFbPUkKfTYoD8
