Decentralized music content distributor and monetization platform, VOISE, is enhancing its reputation on the market and improving the profitability of its token by locking up 600,000 tokens and removing them from circulation. The platform will use smart contracts to collate these token and lock them up for thirty days in order to boost revenue generation on Ethereum blockchain. This is in line with its plans to develop a masternode system for its platform.
A masternode is a node running the same wallet software on the same blockchain to provide extra services to the network. VOISE’s masternode is a way for VOISE token holders to benefit from the platform’s concrete revenue streams. Token holders can set up masternodes by locking a minimum of 600,000 VOISE tokens for a specific period of time – usually a minimum of 30 days. Currently there is over 800 million VOISE tokens in circulation. Masternode operators will earn a certain percentage of revenue based on the amount of tokens committed for the masternode after the tokens have been unlocked. Tokens unlocked before thirty days will not be eligible for reward. 80% of the generated profit from this system will be shared among token holders. However, the platform has noted that revenue generation in the first months is likely to be slow and will be boosting users reward through the foundation reserves.
VOISE has also announced plans to improve the profitability of its token by taking 50 million tokens out of the circulating amount and permanently destroying them on 24th December 2017. The burning of 50 million token – an 8% reduction of the total supply – is in line with the platform’s crowdsale pledge and the disinflationary mechanisms of its tokens as it seeks to become a leader in music content delivery and distribution.
VOISE is a distributed and decentralized music content delivery facilitating a simple solution for artist and their fan base through a blockchain-powered, anonymous network. The platform not only allows artists to directly monetize their works through disintermediation of services and peer-to- peer exchange with fans, but also connect with a global audience. The platform has garnered support from industry veterans including DJ sensation Jinco.