Website

Choon (NOTES)

ICO

Published: Jul 23, 2018

Choon is a music streaming service and digital payments ecosystem – designed to solve the music industry’s most fundamental problems.

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Overview

Project industry	Art & Music
Product type	Platform
Whitepaper	Open

What is Choon

At Choon, artists will be paid on a daily basis, with NOTES tokens being delivered into artists wallets at the end of each day via Choon Real-Time Royalty Network.

The Choon ecosystem will offer a multitude of ways for artists to spend their NOTES within the ecosystem. The ways include but are not limited to promoting their own tracks via in-site advertising, tipping superfans, crowdfunding up-and-coming artists, and playlist inclusions, as well as many more.

Choon will maintain an o-chain ledger on a secure-processing service. It will manage an authority that can cryptographically sign vouchers that artists can redeem whenever they wish to withdraw NOTES from Choon into their Ethereum wallets.

The signed voucher is then submitted to a smart contract that verifies the signature and issues the NOTES to the artist. The artist will not need to handle the voucher directly: instead, the process will happen seamlessly in a web3 dApp available to the artist. A slightly simplified version of the voucher contract is deployed on TestNet for the prototype system and is available on GitHub.

Details

Public sales: Jul 02, 2018 - Aug 01, 2018

Legal

Blockchain Platform: Ethereum
Registration country: United Kingdom

Token info

Ticker: NOTES
Type: Utility-token
Accepted currencies: ETH
Token distribution:
50% - Reserved for Streaming as Mining
25% - Sold in Token Sale
12.5% - Founding Team
6.25% - Employee Compensation and Company Expenses
5% - User Promotions and Incentives
1.25% - Advisory Board
Funds allocation:
16% - Product Development
4% - IT, Server, and Security
4% - Tech and Web
13.6% - Marketing and Advertising
2% - Catalog Content and Acquisition
2.4% - Community Outreach
21.6% - Team and Employment Taxes
6% - Accounting, Tax Compliance, and Planning
2.4% - Legal
4% - Administration and Overhead Costs
2% - Office Costs
2% - Reserve
20% - ICO Corporate Tax Reserve