Dear XTers,
We are honored to announce that JOY(JOY) will be listed on XT.COM. JOY/USDT trading pair will be opened in Innovation Zone (Layer 1). Please take note of the following go-live schedule:
- Deposit: 10: 00 on February 08, 2024 (UTC)
- Trading: 10: 00 on February 09, 2024 (UTC)
- Withdrawal: 10: 00 on February 10, 2024 (UTC)
[Coin JOY]
Joystream is a blockchain project addressing the limitations of closed video platforms like YouTube and Youku by offering an open, decentralized platform for user-generated videos. It fosters innovation and better monetization opportunities for creators. Built on a custom L1 PoS blockchain, Joystream utilizes a DAO for governance, with token holders selecting a council that votes on proposals.
A key feature of Joystream is its emphasis on creator monetization through video NFTs and creator tokens. Video NFTs establish a scarce, intangible association between a video and a user profile, enabling patrons and followers to gain social proximity to valued content in their community. This scarcity, controlled by the creator, can generate revenue through sales and royalties. Creator tokens, on the other hand, provide a low-cost, low-friction way for creators to share the risk and reward of their activity with their passionate audience, leading to transformative outcomes.
The open social graph of Joystream enables permissionless innovation, while creator rewards, video NFTs, and creator tokens unlock new revenue streams for content creators. The platform allows new social products to enter the market without the need to rebuild content, creator, and consumer networks.
Joystream's blockchain serves as a shared content, social, governance, and asset ledger. The DAO's design allows for fast decision-making within specific domains, with high-risk decisions requiring multiple ratifications. The network consists of different node types, each providing a distinct infrastructure service. Participants operating these nodes are paid and staked by the DAO, and they must be hired for their roles through transparent on-chain processes.
The native token, $JOY, is used for governance, security, and payment for network services and block space. Tokens are minted for validator rewards, council salaries, creator rewards, application rewards, and financing proposals, while they are burned for creator token sales, NFT sales, application fees, and content publishing fees.
Launched by Jsgenesis and an online community, Joystream underwent multiple incentivized testnets from 2019 to 2022. The Founding Member program aimed to build a well-trained, passionate community by rewarding non-US members with $JOY allocations for participating in testnets and other activities.
Website: https://www.joystream.org/zh/
Blockchain Browser: https://joystream.subscan.io/
Whitepaper Link: http://www.joystream.org/lightpaper.pdf
Risk warning:
- JOY is a newly-listed token and its initial price may suffer huge fluctuations, causing partial or total losses. Before trading, please have a full understanding of all the risks in investing in digital assets and be prudent in your own decisions.
- All information displayed on XT.COM does not constitute investment advice. XT.COM does not take responsibility for any direct or indirect losses resulted. XT.COM does not assume responsibility for guarantees or compensation for depositing or locking positions.
Thank you for your support!
XT.COM Team
February 07, 2024
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