Joystream, Understanding the JOY token

The Joystream Network Token (JOY) will be a fundamental component of the platform once it is live, playing a role in governance, staking and as a method of payment.

Purpose of the Token

Staking

Participants have to stake some amount of tokens to be able to participate on the platform in some operational roles, for example in order to earn a reward. These staked funds may could be slashed if the party misbehaves in this role.

Governance

Tokens can be used to make decisions on the platform by voting in Joystreams built-in democratic processes.

Payment

Value transfer, such as transaction fees, memberships or accessing monetizes content.

Circulating Token Supply

Unlike cryptocurrencies such as Bitcoin, where there is a fixed inflation schedule, the Joystream platform will mint and burn tokens according to rules and parameters which are subject to change.

This, in combination with the low friction associated with the updating of the system rules, means that it is not possible to determine the token supply up front.

Allocation of Tokens

The initial allocation of this token in the main network launch is as given below. This means that when the system starts, the allocation of token at first will look like this, but tokens will get minted at every block, which will dilute this set of initial stakeholders.

  • 50% Team and Investors
  • 30% Future Community Members
  • 20% Early Community Members

Disclaimer

This disclaimer applies to the webpage accessible at www.joystream.org/token as well as all other webpages, digital services or applications published by Jsgenesis (the company). The disclaimer also applies to any material published by Company in any other format in connection with the JOY token (the Token). Publications made by Company and all information contained within them are not directed at or intended for use by any person resident or located in any jurisdiction where the distribution of such information is contrary to the laws of such jurisdiction , or such distribution is prohibited without obtaining the necessary licenses or authorizations by the relevant branch, subsidiary or affiliate office of Company an such licenses or authorizations have not been obtained. Company does not provide investment, legal or tax advice and nothing herein should be construed as being financial, legal, tax or other advice. Unless specifically stated otherwise, all price information is indicative only. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the materials, nor are they a complete statement of the securities, markets or developments referred to herein. The materials should not be regarded by recipients as a substitute for the exercise of their own judgement. All information and materials published, distributed or otherwise made available by Company in relation to Token are provided for informational purposes, for your non-commercial, personal use only. No information or materials published by Company constitutes a solicitation, an offer, or a recommendation to buy or sell any investment instruments, to effect any transactions, or to conclude any legal act of any kind whatsoever.