Zoints is a social network that utilizes split staking rewards, crypto, and the Solana blockchain to create recurring subscription rewards for Creators, Community Founders, and their Fans. How exactly does the staking work?
First off, “staking” is like placing your tokens in a bank the blockchain controls and you earn interest (rewards) for doing so. 55% of the total $ZEE token supply is locked up in the staking program to be paid out over 40 years, this is called the emission schedule. The first 10 years are shown in the table below:
Fans can follow Creators and Communities for free, but those who have a Phantom wallet linked to Zoints also have an option to stake their $ZEE with them by subscribing; this may grant them access to private content or other exclusive benefits depending on the Creator or Community. Subscription rates are set by the Creator or Community Owner.
When Fans subscribe to a Creator or Community, they stake their $ZEE and split the staking rewards. The Fan receives 47.5% of the rewards, the Creator or Community Founder receives 47.5% of the rewards, and the person who referred the Creator or Community Founder receives 5% of the rewards. The reward is variable based upon the emission schedule and the total number of stakers who split the $ZEE emissions for that time period. If a Fan chooses to unsubscribe and thus unstake, there is a 10 day waiting period prior to the tokens being deposited back into the Fan’s wallet. If a Creator adjusts the subscription rate, existing Fans are grandfathered in at the current rate. This functionality creates a mutually beneficial relationship between Creator and Fan.
A dashboard has been provided within the Zoints platform for management and informational purposes:
The “Wallet” is the number of $ZEE in your Phantom wallet. If a Fan unsubscribes to a Creator or Community, those tokens will show in the “Unstaking” area for 10 days before being eligible to be claimed and go back into their wallet. The “Staked” total is how many ZEE you have staked across all Creators and Communities. The “Unclaimed” is the amount of rewards you can withdraw (via the claim all button) from the staking fund into your wallet.
The Zoints staking system opens up a host of new social and financial models and we look forward to seeing how people creatively utilize it!
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