The Artist Xchange Whitepaper
Support Art in a New Way
Last updated
Support Art in a New Way
Last updated
Abstract:
The Artist Xchange is a community-driven platform that leverages Polygon network to enable fast and cost-effective transfers between fans and artists. The platform uses $ARTIST tokens to fund and grow an ecosystem of new and existing artists and fans. Through this ecosystem, the fans can support their favorite artists by swapping $ARTIST for their artist coins, while the artists can use $ARTIST to pay for the platform's gas fees and liquidate their funding when needed. This whitepaper outlines the platform's key features, including token distribution, treasury management, and balancing holdings.
Introduction:
The music industry is a constantly evolving and vibrant sector that touches the lives of millions of people worldwide. However, despite its undeniable appeal, the industry faces numerous challenges. One of the biggest challenges is the lack of adequate funding for emerging artists, as well as the unfair payment systems that leave many artists struggling to make a living. The Artist Xchange recognizes these issues and seeks to address them through its revolutionary platform. While the music industry is just one example of an industry we are helping, The Artist Xchange aims to help all artists in life because life is art. From nail artists, makeup artists, social media influencers, photographers, business owners, and beyond, there is art in almost everything we do, and we believe that all types of artists should be able to list their art and make good money. The Artist Xchange will grow to be a platform that almost anyone can sign up for and make coins on, with their fans growing and supporting them. Therefore, it's essential to mention in this white paper that The Artist Xchange is abstract and wide with the amount of artists and people we are helping and connecting, and it’s beyond just musicians and the music industry. The core objective of The Artist Xchange is to create a sustainable artistic ecosystem that benefits all stakeholders involved. By facilitating direct interactions between artists and their fans, the platform aims to foster a deeper sense of community and create more opportunities for artists to earn a fair wage for their work. The use of $ARTIST tokens adds an extra layer of value to the platform, providing a secure and transparent way for artists to receive compensation for their art. By creating a decentralized and equitable system for art distribution, The Artist Xchange hopes to drive the art industry forward and help it reach new heights of success and sustainability.
Token Distribution:
The tokenomics of The Artist Xchange project involves the issuance of 700 million $ARTIST tokens, which will be used as the currency for swapping with artist coins on the platform and governing the activity and experiences on the Artist Xchange. These tokens will not be offered for sale or any promise of value to investors.
Instead, a strategic airdrop approach will be used to distribute the $ARTIST tokens. The goal of this approach is to incentivize and reward early supporters of The Artist Xchange ecosystem. The governance of The Artist Xchange will oversee the distribution of $ARTIST in a fair, transparent, and responsible manner, with a focus on supporting artists and fans that align with the values and goals of the ecosystem.
The majority of the $ARTIST tokens will be held in a multi-sig treasury, which will be used to support future artists and fans, programs, or causes that align with The Artist Xchange goals. The aim is to keep inflation low and transition to a deflationary model over time through careful treasury management.
The following is a breakdown of how the 700 million $ARTIST tokens will be distributed:
Uniswap Artist/Matic market
14.037%
Uniswap trading pairs for AX/Artist
0.5413%
Uniswap trading pairs for LK1/Artist
0.5413%
locked away in a smart contract until January 2024
25%
held in a Gnosis Safe and locked away for company expense reserve
5%
held in a cold storage wallet reserved for artist trading pair
27.1304%
held in a Balancer auto trading AI bot until January 2024.
27.75%
As for the circulating supply of $ARTIST tokens, it will be as follows:
In 2023Q1, the circulating supply will be 0%.
In 2023Q2, the circulating supply will be 47.25%.
In 2023Q3, the circulating supply will be 47.25%.
In 2023Q4, the circulating supply will be 47.25%.
To summarize, The Artist Xchange will distribute $ARTIST tokens through a strategic airdrop approach to early supporters of the ecosystem. The tokens will be held in a multi-sig treasury and distributed in a fair, transparent, and responsible manner. The aim is to keep inflation low and transition to a deflationary model over time through careful treasury management. The circulating supply will increase gradually over the course of 2023, with 47.25% of the total supply being in circulation in each quarter.
Treasury Management:
The Artist Xchange recognizes the importance of careful treasury management in ensuring the long-term success of the platform. To achieve this, the project will use multi-sig vaults, such as Gnosis and TokenSets, to hold its diverse treasury. Multi-sig vaults provide an extra layer of security and transparency, as they require multiple parties to sign off on transactions, thereby reducing the risk of fraud or theft.
The TokenSets-based treasury will hold a portion of $ARTIST. Users will have the opportunity to participate in $ARTIST TokenSets by depositing a variety of tokens, such as MATIC, which will be converted to $ARTIST and other accepted treasury tokens. This will create yet another use-case for $ARTIST, as it will serve as a means of exchange for users seeking to participate in The Artist Xchange TokenSets.
By holding a diverse range of assets in the treasury, The Artist Xchange will be able to mitigate risks associated with market volatility and provide stability to the ecosystem. The platform will use a range of strategies to manage its treasury, including yield farming, liquidity provision, and strategic investments in other projects that align with the values and goals of The Artist Xchange.
The project is committed to transparency and responsible treasury management. To this end, The Artist Xchange will provide regular updates on its treasury holdings and investment strategy, as well as seek input from the community on the allocation of funds. This approach will help build trust and confidence in the project among the crypto community.
In summary, The Artist Xchange recognizes the importance of careful treasury management in ensuring the long-term success of the platform. By using multi-sig vaults and a range of strategies to manage its treasury, the project aims to mitigate risks associated with market volatility and provide stability to the ecosystem. The TokenSets-based treasury will create yet another use-case for $ARTIST, as it will serve as a means of exchange for users seeking to participate in The Artist Xchange TokenSets. The project is committed to transparency and responsible treasury management, which will help build trust and confidence in the project among the crypto community.
Balancing Holdings:
The Artist Xchange recognizes the importance of managing its treasury effectively to ensure the long-term success of the platform. To achieve this, The Artist Xchange will utilize Tokensets vaults, which will be carefully managed by a combination of The Artist Xchange team and an artificial intelligence trading system.
The AI trading system will use sophisticated algorithms to analyze market conditions, historical data, and other factors to determine the optimal trading strategies to maximize The Artist Xchange treasury value. This approach allows The Artist Xchange to make informed decisions and respond to changes in market conditions quickly.
During bear markets, when the market experiences a sustained downturn, The Artist Xchange may consider increasing its holdings of stablecoins or other low-risk assets to minimize losses. This approach helps to ensure that the treasury remains robust and resilient, even in challenging market conditions.
On the other hand, during bull markets, when the market experiences an extended period of growth, The Artist Xchange may consider allocating more funds to high-risk, high-reward assets. This approach aims to maximize returns for the platform and its users while maintaining a responsible level of risk management.
By using AI and careful treasury management, The Artist Xchange aims to create a sustainable and successful platform that generates value for all stakeholders. The platform will continue to evolve and adapt to market conditions over time, ensuring that it remains at the forefront of the music industry and the broader cryptocurrency ecosystem.
Conclusion:
In conclusion, The Artist Xchange represents a pioneering effort to create a decentralized platform that empowers artists and fans. By leveraging the Polygon network, the platform enables users to enjoy fast and low-cost transactions, while the $ARTIST token serves as a key element for funding and growing the ecosystem.
The platform's unique token distribution approach is designed to reward and incentivize artists and fans that align with The Artist Xchange's values and goals. This approach promotes fairness, transparency, and responsible governance, ensuring that the platform remains sustainable and beneficial to all stakeholders.
The Artist Xchange's treasury management and balancing holdings strategies are also crucial elements that contribute to the platform's long-term success. The platform uses advanced technologies such as AI algorithms to make informed decisions about how best to allocate funds across various assets, taking into account market conditions and other relevant factors.
It's essential to note that this white paper is subject to change, and the amount of 25% being burned over ten years is subject to change depending on how the years go and other factors. The Artist Xchange team will make sure to comply with all legal requirements in this regard.
Overall, The Artist Xchange has the potential to revolutionize the DeFi space by providing a secure and efficient platform for artists and fans to interact directly and fairly. By leveraging the power of blockchain and Defi, the platform is poised to unlock new possibilities and opportunities that were previously impossible. The team behind The Artist Xchange is committed to delivering on this vision and making a positive impact on the art industry for years to come.
