cXc Launches Purple, a Co-Creative Economy on WAX Blockchain

By April 17, 2021DApps
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Purple’s tokenomics reveal revolutionary mechanics geared towards rewarding creators for creating and generating local Top Charts.

After receiving an Up on their content, the creator is rewarded with another token, one BLUX. One BLUX can be spent to give an Up like one SOL, helping content get exposure by appearing larger on, and also showing up on the Top charts. Top charts contain the final piece of the economy, Purple, which is rewarded daily to creators who make it into the Top 64 by getting the most Ups.

While supplies of BLUX and SOL are both inflating each day, and deflating as they are spent on Ups, Purple has a Max Supply of 35,831,808 tokens, 1/3 of which are reserved in a Creators Fund that is used to reward the Top 64 Creators for years to come.

Purple’s functionality lies in it’s ability to be staked for the owner’s choice of one daily Up on any piece of content or one BLUX token paid daily to their account. One staked Purple activates 1 Up or BLUX per day, but if you stake multiple Purple, you can get a much better rate, up to 6.75 Ups or BLUX per day for each Purple at 64 Purple staked.

Daily Ups are valuable because only shows content that has received Ups that day, though viewers can also choose to see monthly trends, or any other time span in the “time machine.” Local charts are generated by the dapp for every Nation in the world, and in the United States for every State, County, and City.

National Charts in FranceStarting next month, Purple will work on cXc’s flagship application, cXc Music. In the future, cXc will release other media mapping applications like cXc Scribe, cXc Art, cXc Video, and more.

Purple’s designer Douglas Butner had this to say
“What’s even more exciting than launching Purple is to know that this is just the beginning. As a musician, I’m stoked to launch Purple on cXc Music because I’ve seen great music go unnoticed my whole life, including from my good friends. Looking forward and imagining this system not only helping musicians, but all kinds of creators goes beyond my wildest imagination.“

Purple token is now available for purchase on Alcor Exchange at the starting price of 20 WAX / Purple, though only 3,190 Purple will be listed at this price. A maximum of 1/12 max supply of Purple will ever be offered, always in small batches that go up in price each listing. The other tradable token, BLUX, will never be sold directly by cXc; it can only be earned on and through staking Purple. BLUX and Purple are both available to trade and swap in DeFi pools on Alcor Exchange.

More information about the Purple economy can be found in the Purple Explainer.

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