SIMPS Whitepaper
Introduction
Simps.com is a smart contract enabled live-streaming platform that allows content creators to monetize their content directly with their fans. Utilizing a bonding curve in the smart contracts, access to content is granted when users purchase a key (token). The key price increases as more keys are purchased, creating increasing value for the user. Creators can set the starting price of their content, and receive 5% of all the trading volume to their room (content). This not only creates revenue for the creator, but also gives the user the ability to earn as well.
1.1 Problem Statement
- Few monetization options: Most live streaming platforms offer limited monetization tools for creators.
- High platform fees: If they are able to earn, traditional platforms take a significant cut from creator earnings, upwards of 50%.
- Lack of transparency: Users have limited visibility into revenue-sharing models.
- Limited monetization options: A lot of the time, creators have to rely on brand deals and sponsorships to make a living.
- No transparency in revenue distribution: Users and creators lack insights into platform earnings and payments.
1.2 Solution: A Blockchain-Powered Creator Economy
Simps.com leverages blockchain to offer:
- Transparent revenue-sharing: Creators receive 5% of all the trading volume to their room / content. Every transaction is recorded on the blockchain, providing full transparency.
- Realtime updates Live streamers and users can see how much they are earning in real-time.
- User earnings: Users can earn by purchasing keys early and selling them later.
- Instant earnings: Creators can start earning instantly after signup.
- Direct fan engagement: Fans can support creators directly without intermediaries.
- Creator tipping: Creators and users can tip each other in $SIMP tokens.
2. Platform Overview
Simps.com is a platform that combines live streaming, social networking, and decentralized finance (DeFi) features. Creators can host live streams, set prices for their content, and earn a percentage of the trading volume generated by their content keys. Users can purchase content keys, engage with creators, and earn Ethereum by buying room access.
2.1 Key Features
2.1.1 Live Streaming
Simps.com offers live streaming capabilities, allowing creators to host interactive sessions with their audience. The best in class streaming technology ensures high-quality video and audio, providing an immersive experience for users.
2.1.2 Adjustable Bonding Curve
The platform utilizes a bonding curve mechanism to determine the price of content keys. Creators can set the starting price of their content, with the price increasing as more keys are purchased. This creates a dynamic pricing model that rewards early adopters and increases the value of the content over time.
The bonding curve is adjustable, allowing creators to customize the pricing model based on their preferences. This flexibility enables creators to experiment with different pricing strategies and optimize their revenue streams.
2.1.3 Revenue
Creators earn a percentage of the trading volume generated by their content keys. The platform automatically distributes 5% of the trading volume to the creator's wallets. Creators can track their earnings in real-time and withdraw their earnings at any time.
Users can earn by purchasing content keys early and selling them later at a higher price. This incentivizes users to support creators and engage with their content, creating a win-win scenario for both parties.
2.1.2 Social Networking
The platform includes social networking features that enable creators and fans to connect, share content, and engage with each other. A twitter style feed allows users to post updates, photos, and videos, while a chat feature enables real-time communication between users.
Users can tip creators in $SIMP tokens to show appreciation for their work.
3. Tokenomics
Visit the SIMPS Tokenomics page for more information.
4. Roadmap
Q4 2023
- Platform Launch: Simps.com goes live, offering a token gated chat and and a twitter style feed.
- Privy Wallet Integration: Simps.com integrates Privy Wallet to provide users with secure and easy-to-use wallet functionality.
- Community Building: Simps.com launches marketing campaigns to attract users and creators.
Q1 2024
- Site redesign: Simps.com undergoes a full redesign to improve user experience and add new features.
Q2 2024
- Token Launch: The SIMP token is launched on the Base L2 blockchain, with support for tipping other users
- New Smart Contracts Launched: Our new smart contracts that allow for an adjustable bonding curve are launched.
- Progressive Web App: Simps.com launches a Progressive Web App (PWA) to provide users with a seamless mobile experience. Install Simps on your phone and use it like an app.
- Creator Dashboard: Simps.com launches a creator dashboard, allowing creators and users to track their earnings in real-time.
Q3 2024
- Tradingview Integration: Simps.com integrates Tradingview to provide users with best in class real-time price data.
- Audio Spaces Launched: Simps.com launches audio spaces, allowing creators to host live audio sessions.
- Video Conferencing Launched: Simps.com launches video conferencing, allowing creators to host live video sessions.
Q4 2024
- Video Streaming Launched: Simps.com launches video streaming, allowing gamers to live stream their games.
Q1 2025
- Live Stream Recoding: Simps.com launches live stream recording, allowing creators to record their live streams and share them with their audience.
- Marketing Campaign: Simps.com launches a marketing campaign directed at attracting live streamers to the platform.
Q2 2025
- Buy Room Access with SIMP: New smart contracts will allow users to buy room access with $SIMP tokens.
5. Conclusion
Simps.com aims to revolutionize the live streaming industry by providing a transparent, instant, and creator-centric platform. By leveraging blockchain technology, Simps isn't just a paywall to content, it's a new way for creators and users to earn. Simps is live now. Come join us and start earning today!