Audius ($AUDIO)

ARTICLES

VIDEOS

TWITTER THREADS

LINKS

Website - https://audius.org/

App - https://audius.co/

Whitepaper - https://whitepaper.audius.co/AudiusWhitepaper.pdf

Docs - https://docs.audius.org/

Github - https://github.com/AudiusProject

Twitter - https://twitter.com/AudiusProject

Discord - https://discord.com/invite/audius

Medium - https://medium.com/audius

WHAT IT IS

Audius is one of the projects that is set to disrupt the music industry. It’s a decentralized fully community-owned and artist-controlled music sharing protocol. In 2017 the music industry generated 43B in rev and artists only saw 12% of that. Sports like Football and Basketball etc are generally 45-50% to the athletes. The music industry is terribly unfair in the way that revenue is distributed between artists and things like record label companies, products, managers, etc.

Audius aims to be a blockchain-based alternative to traditional streaming platforms in order to help artists monetize their work.

HOW DOES IT WORK

Content is routed to two different types of nodes within the network.

Content Nodes - To store and relay audio content (tracks, mixes, etc.) streamed on Audius

Discovery Nodes - To index and hash data like user profiles, playlists, and followers.

When an artist uploads a track to Audius:

That content is uploaded to a Content Node

The data gets transcoded and returns a reference code used to identify the track

The data linked by the reference code is replicated to two other Content Nodes on the network

An on-chain transaction is published signifying that the track exists on Audius and that the metadata is attached to the profile that uploaded the track

The transaction is picked up and indexed by a Discovery Node

The client returns that the track was successfully published when it shows up on the Discovery Node, marking the upload complete!

On other platforms, a similar process is operated by the parent company, effectively making them the true owner of the content. Should that company cease to exist, so does all the content stored in its database.

With Audius, the track is maintained by the network and controlled by third-party and decentralized node operators. Audius is not dependent on one company to keep running.

Staking

By staking $AUDIO, you’re helping to protect and power the protocol.

This design allows Audius to operate on the back of a global network of third-party node operators, rather than solely by the Audius team.

The decision to use two node types allows Audius to scale in correlation to different metrics, meaning that if the number of listeners was to spike relative to the Audius catalog, Discovery Nodes could pick up the weight while the Content Nodes continue to run as normal. Similarly, the network could choose to adjust incentives depending on where bandwidth is needed to meet demand at any given time.

Discovery Node

Minimum Bond (Stake): 200,000 AUDIO

Maximum Bond (Stake): 7,000,000 AUDIO

Content Node

Minimum Bond (Stake): 200,000 AUDIO

Maximum Bond (Stake): 10,000,0000 AUDIO

$AUDIO holders can delegate a minimum of 100 tokens to any of these node operators by connecting to either MetaMask or using a Gnosis Safe. More details on delegation will be released soon!

Node operators can choose to run either a Content Node, a Discovery Node or a combination of both. The amount of $AUDIO staked to a given Operator can be thought of as their economic bandwidth to run one or a combination of services on the network.

TOKENOMICS

$AUDIO is the native token of the protocol. $AUDIO has an initial supply of 1 billion

The distribution breakdown goes like this

5% was airdropped to AUDIUS’s most active artists and listeners

18% of AUDIO’s initial supply was allocated to the community treasury

40% went to the AUDIUS team and its advisers, who include famous musicians

36% went to AUDIUSs investors, which later included Binance Labs and Coinbase Ventures.

TEAM

Here is a link to the team - https://audius.org/team