MessageFi is a Web3 social Dapp, which is used to freely share text, pictures, audio and video content, and uses Arseeding to store the content on block chain network permanently. The message will be stored on the solana chain in the form of an NFT, we call it MFT. Participants can coin support their favorite messages by sol and exchange their opinions with the community.
In web2 world Twitter and Ins, creating a message is free, but in the web3 world, the storage and on-chain operation must costs gas. MessageFi's clever logic was designed to support message creators and participants.
Overall, MessageFi will be a combination of social community and finance, achieving strong on-chain socialization while continuing to provide benefits for creators and participants.
The MessgeFi economy consists of governance token, MessageFi Coin (hereinafter referred to as MFC).
We have designed an incentive mechanism where MFC will be distributed in the form of periodic incentives with a maximum issuance of 1 billion. Each cycle lasts 1 days and issued 1 million MFCs per cycle. The reduction cycles of production is 150, at a rate of 30%, for example, in 150 to 300 cycles, only 0.7 million MFCs will be issued per cycle. In each cycle, MFC will be divided equally by the popularity value of all newly created messages in the period, and then multiplied by the popularity of each message.
Participants can drop SOL to MFT to incentivize holders and increase the popularity value of Message.
Periodic popularity value = The sum of all message popularity values in this period;
Message popularity calculation method:
- Each SOL provides 100 popularity values, participants fed at least 0.01 SOL per times.
- For every 10 increase in the SOL supported by the coin, the popularity of the message rises by 30%.
- For example, message A got N SOLs during the cycle, then A's popularity value = 100 * n *(1 + （n/10）* 30%)
The figure below shows the change curve of popularity value under different support amounts.
The final allocated MFC value is determined at the settlement time point, and the settlement value = cycle output * message popularity value/Total popularity value. 5% of the total amount of MFC received by the message is directly incentivized to that MFT holder. The remaining amount is distributed according to the proportion of the SOL sponsored in each address in the total sponsorship of the message during the period.
Example:
| MFT | Sol from Fans | Popularity Value | Awards / MFC | Awards as Sol | Owner / Sol | Fans / Sol | Pure rate of interest |
|---|---|---|---|---|---|---|---|
| A | 50 | 12500 | 711682 | 37.4 | 1.87 | 35.53 | -28.94% |
| B | 100 | 40000 | 2277385 | 119.94 | 5.99 | 113.94 | 11.39% |
| C | 8 | 992 | 10931 | 2.97 | 0.14 | 2.83 | -64.62% |
| D | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Regarding non-cycle sponsorship settlement: For non-cycle support, both holders and sponsors will receive a reward directly, sponsor receive 15% equal MFCs and holder get 80% SOLCoin, the remaining 5% will be charged as a handling fee .
About MFT casting: every message will mint a unique MFT, which can be freely traded and bought, The incentives generated by MessageFi and send to MFT owner. Casting MFTs requires gas and storage fees at Solana and Arseeding will be very cheap. Other than that, MFC total circulating volume/10 million MFCs need to be provided while minting.
Finally, the part of withdrawing SOLs. We built an exchange pool in the MessageFi contract, using the amount of SOLs fed in MessageFi to anchor the amounts of MFC in circulation, and anyone can add the flowing MFC to the MessageFi ecological cycle through swap to get the equivalent sol. The swap process requires a fee of 0.5% which is retained in MessageFi to support ecological construction, but will not be counted in the exchange pool.
MessageFi aims to build an open community where community members can earn money through creations. For creators, MessageFi will be a huge stage, bringing great benefits to text, pictures, and film and television music creators. At the same time, their supporters are also playing with each other in the process, earning more MFCs side by side with them.