What Is snglsDAO (SGT)?
It is being released in its current form in order to inspire spirited debate and allow time for your community to thoughtfully engage with a potential direction for your token. No part of this Working White Paper is legally binding or enforceable against its authors, Breaker, its affiliates or their employees, nor is it meant to be. It does not reflect the official position of Breaker at this time and should not be considered by anyone as a business plan or a promise to implement the ideas described herein.
There are many different services that could come of this and they have only just started to scratch the surface of what these services could be. snglsDAO think this will ignite the decentralized entertainment economy and spur growth for services and new opportunities along with business models for artists.
Nothing in this Working White Paper shall be deemed to constitute a prospectus of any sort or a solicitation for investment, nor does it in any way pertain to an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction at any time.
snglsDAO Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | snglsDAO |
| Short Name | SGT |
| Circulating Supply | N/A |
| Total Supply | 1,000,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Mechanism Architectures
snglsDAO modern world the commons have been privatized into siloed architectures where large companies with shadowy equity holders can influence the discourse that could once flow freely over the networks. From the dark corners of the internet a force of light was released into the world using a trust less mechanism that removed the soloed architectures and gave the commons back to the people, a gift from an anonymous entity going by the name of Toshiba Nakamoto.
Having different participants with alternative incentives that compete with each other in the system, they created a self-sustaining public currency that call Bitcoin. The snglsDAO plans on using a similar self-sustaining mechanism to deliver a public media distribution utility. They ask yourselves, not what content can do for your platform, but what can your platform do for content? They don’t know the final outcome of this grand experiment. All they can do is show you how it begins. Where it goes, is a choice left to you.
All the content purchases/rights will be registered on the Ethereum blockchain, which acts as the source of trust (L1). They will be birthing the platform (L2) into the world and offering services to be built on top of the utility. The protocol will be controlled by the snglsDAO (Decentralized Autonomous Organization). Other companies can come into the space and offer services as well.
Token Utility
The native token of the ecosystem will be SNGLS. The SNGLS token will be used in the DAO for voting rights to approve or deny proposals for upgrading the platform, amount for listing / upload fees, and Treasury control. SNGLS will also be stake able in the Content Mining operation which will decide what gets listed on the protocol and what doesn’t.
In your system snglsDAO have five participants with different incentives for the mechanism to achieve equilibrium:
- Users the people who buy and view content
- Content Creators the people who add new entries to the system
- Validators Entities that vote on content being added or not to the system
- Developers The plumbers who keep the platform running
- Third Party Service Providers Companies that derive their income from the platform by providing a service to the Content Creators
Original DAO Controls
- Forum for proposals: The forum is a place where proposals to the platform are submitted. They will be voted on by the DAO. Funds and fees will be allocated according to the proposal.
- SNGLS Media Distribution Protocol parameter settings: The Staking and Transaction Fees are allocated to the Treasury of the DAO. A Validation Fee is paid to the Validators. All parameters are voted on and set by the DAO.
