Overview
There are two main functions within this App.
Live Events: This feature focuses on real-time interactions, enabling reporters to pose questions to significant figures like the United States Press Secretary or public speakers, directly reflecting the public's curiosity. A unique leaderboard system allows viewers to financially back the questions they are most interested in having answered. Once a question from the leaderboard is addressed live, the accumulated funds for that question are distributed accordingly.
Bounties: Designed to spotlight stories and events that are overlooked by mainstream media, the Bounties section empowers anyone to propose topics for journalistic exploration. Community members can then support these topics with financial contributions, effectively prioritizing them for coverage. This democratizes the focus of media attention, ensuring a wider range of stories get the spotlight based on public interest and financial support.
🤝Leaderboard Ranking - Live Events
Each event will feature a live video stream and leaderboard with the top 30 user-submitted questions. Questions ascend in rank based on financial contributions and upvotes. Every question asked is recorded on the blockchain, but only those on the leaderboard at an event's conclusion are permanently stored. Users are free to ask questions before and during an event.
🛳 Question Types
Users can ask both free and paid questions. Paid questions, or posts with a financial bid, are more likely to rank higher on the leaderboard due to their monetary value.
🙇♀️ Upvoting System
Upvoting a question or bounty costs a minimum of $0.25, payable through crypto, with no upper limit to the amount that can be spent.
Free Questions
Users can ask 1 free question or bounty a day
Funding & Development
NFTs are sold in phases to fund blockchain, smart contract, and app development.
Leaderboard and Bounty Jackpots
Each leading question or bounty carries a jackpot, funded by the question asker and upvotes. When a reporter asks a leaderboard question, they record the moment and receive an NFT of the event named "IRLs". The jackpot distribution includes:
20% allocated to the On-Site Reporter who posed and recorded the question live.
5% rewarded to the individual who submitted the question.
20% designated for the Foundation.
25% shared among users who upvoted the question.
20% to Time-lock staking
10% contributed to the DAO's treasury.
Releasing Funds
For Bounties, users who contribute financially by upvoting will have the privilege to vote on the disbursement of funds secured in the smart contract. These funds are designated for release upon the successful completion of the reporting task associated with the bounty.
As for Live Events, the process for fund release is currently being developed. Initially, the disbursement of funds for Live Events will adopt a semi-centralized approach, with plans to evolve towards a more decentralized system progressively.
Whale Tax
To prevent monopolization by large entities, the system is designed so that if a major entity attempts to dominate the leaderboard, they incur a financial loss. The jackpot structure ensures equitable distribution among participants.
Earning Through Upvoting
Users can profit by upvoting questions. For instance, if a question gains significant backing, upvoters are entitled to a portion of the jackpot.
Trading Equity in Bounties and Live-Events
As users financially support and elevate Bounties and Live questions through upvotes, their value increases, enabling users to trade their equity at a profit whenever they choose. To balance the interests of reporters aiming to earn a livelihood through People's Voice and to mitigate excessive selling, a 10% transaction fee on sales will be implemented. This fee serves as a deterrent against frequent selling. Half of this fee will be allocated to the People's Voice Foundation, while the remaining half will be reinvested into the specific Bounty or Live question's fund that the user sold from.
Conclusion
This structure is designed to democratize information sharing, incentivize participation, and ensure transparent and fair distribution of rewards and governance.
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