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About Charactbit
- Goal: Promote cultural activities in the cryptocurrency ecosystem
- Founded in 2021
- Named as a compound word for character+bit
- Virtual characters are called Forms, with individual tokens representing the creator’s value of Forms Token
- Charactbit Token (CHB) will be used as a tool for subculture enthusiasts to become more active in the ecosystem
- Forms Token: a social token with unique mining and staking systems
- Mining: Forms tokens are mined through sponsorship for positive user-forms interaction
- Staking: early idea of Forms Token was in the form of sculpture investment, with staking interest income distributed
About Charactbit: Empowering the Future of Digital Assets
The Charactbit project is a pioneering initiative that seeks to foster a thriving subculture within the cryptocurrency ecosystem. Notably, virtual characters are envisioned as a pivotal element in the future metaverse. The Charactbit (CHB) Token is designed to empower subculture enthusiasts, encouraging them to take a more active role in the ecosystem. Founded in 2021, Charactbit’s name is a portmanteau of “character” and “bit.” Within the Charactbit ecosystem, virtual characters are referred to as “Forms,” each with its own token representing the creator’s value. Against this backdrop, we will establish a donation platform. The issuance of Forms Tokens will yield additional rewards for both sponsors and content providers, thereby boosting ecosystem activity and scalability. This innovative mining system, which interacts with the Charactbit Token, is a hallmark of the project. Ultimately, the Charactbit project is poised to revolutionize the metaverse and animation landscapes, set against the vast, expansive worldview of Fandea.
Livetoon was conceived with the ambitious vision of evolving into a comprehensive donation platform for the character culture industry, where Charactbit is poised to be utilized effectively for the first time.
The distinctive feature of Korean streaming events is the loud TTS voice during personal broadcasts, which captivates the viewer and fosters a more intimate interaction. In contrast, this engaging element is often absent in similar broadcasts from other parts of the world. Korea’s thriving sponsorship culture, characterized by high audience participation, elevates live broadcasts to a more immersive and enriching experience. The personalized message delivered to a favorite broadcaster is a unique delight. This symbiotic relationship, where sponsors derive joy from public recognition of their donations, inspires broadcasters to create more captivating content. In the blockchain ecosystem, we strive for a harmonious dynamic between investors and broadcasters, where the currency facilitates a mutually beneficial and enjoyable exchange, rather than a mere investment.
Forms Token: A Form Token is a bespoke social token, akin to those utilized in the Rally project. We will design and operate these tokens in a distinctive and personalized manner, tailored to each unique Forms character. Every Form token will boast a singular approach to mining and staking systems, thereby establishing a direct correlation between the tokens and the overall financial value of Forms.
Mining: Tokens are minted through sponsored interactions between users and forms, presenting a novel creative challenge. Through LIVETOON, these interactions can be sponsored using USDC and CHB tokens. The distribution of Form Tokens is proposed to be split 50/50 between the sponsor and the form creators, fostering a mutually beneficial ecosystem where everyone can coexist and generate additional value. However, the qualification for issuing Form Tokens should undergo rigorous verification to mitigate potential risks. Notably, allocating 50% of the tokens to content creators lacking token economic expertise poses a significant structural risk. To address this, we plan to allocate half of the share for burning, thereby reducing the risk. By incinerating the same volume during sales activities, we can further mitigate structural risks. Furthermore, we intend to transparently organize and sell the disclosed quantity, ensuring that token ownership is not delegated to Forms during sales and usage activities.
Staking: The initial concept of Forms Token was rooted in the notion of sculptural investment, where investments were made in the growth of favored content creators, thereby structurally impacting the value of individual Forms, which in turn influenced the Forms Token. Forms’ revenue, primarily generated through live streaming, is bifurcated into two primary sources: activity income and sponsorship income. The main financial contributors to activity income are advertising revenues. We have devised a format for distributing a portion of the activity income as staking interest income. The activity income is directly reported and submitted quarterly by Forms, and in the event of embezzlement, the community is empowered to raise objections. If the objections are deemed reasonable, a punishment is imposed, resulting in the incineration of Forms tokens held, as per community agreement. Staking will be applied selectively, contingent upon the Forms token.
Today, an increasing number of broadcasters are partnering with cryptocurrency sponsors. However, the current state of personal broadcasting and sponsorship platforms for individuals remains rudimentary. Most cryptocurrency-related private broadcasters are still relying on the primitive method of sharing their wallet addresses to receive sponsorships. By leveraging the Solara network, which offers convenience, speed, and low fees, many individuals can now easily receive sponsorships. Moreover, broadcasters need a platform that enables them to express their gratitude in real-time, acknowledging the sponsor and the amount contributed. The influence of individual broadcasters is unexpectedly profound, with modern trends often emerging from live broadcasts. The Charactbit project is poised to bring immense excitement to the Solara ecosystem, serving as a magnet to attract a larger user base.