Rhythm - Whitepaper
Welcome to the Rhythm Whitepaper! This whitepaper contains the project's wallet holder perks, tokenomics and safety measurements.
Welcome to the Rhythm Whitepaper! This whitepaper contains the project's wallet holder perks, tokenomics and safety measurements.
As tokens are burned, the minimum amount of tokens required for each tier will be lowered. More perks will be added to this list in the future and any perk suggestions are welcomed.
20,000,000,000 (20 billion) total supply
1,700,000,000 (1.7 billion) burned tokens
750,000,000 (750 million) team member tokens
Burn will stop at 1 billion tokens - (Will hold a vote)
Current Price: $0.000115
Holders:
Market Cap: $2,297,000
Emerald Members: 24
Diamond Members: 18
Gold Members: 170
The music industry is a barely touched market in the Blockchain industry due to the difficulty of solving the initial problems of funding, paying the artists, and getting artists to use the platform.
With music streaming platforms spending less time on utility and innovation and more time on their user interface, it’s time to bring innovation back to the music industry. At Rhythm, we aim to open the doors of DeFi to the music industry with an ecosystem which plans on slowly transitioning the music industry into a decentralized system that works end-to-end.
The current approach to decentralized music streaming is to build a CeDeFi/dApp that allows artists to create NFT’s of their music and albums, which is a great idea. However, this approach only contains NFT hosted music and excludes 99.9% of the music industry with their music hosted on platforms such as YouTube, Spotify and Apple Music.
The DeFi space needs to offer something of value to the music industry before well-known artists start opening themselves towards joining the DeFi space, and that's where Rhythm comes in.
Rhythm is a CeDeFi Desktop music streaming platform with over 100 million songs, music videos and podcasts that is built on-top of a Chromium Browser. Our embedding tools allowed us to build a powerful, yet simple to use, interface that turns YouTube into a streaming platform that people will want to use.
Rhythm Music takes full advantage of the power of the Rhythm Protocol at its core. The Rhythm Protocol will power the wallet perks, NFT pins, NFT playlists, NFT albums and all of our future projects.
We plan on eventually building a full dApp version of Rhythm and will take baby steps towards reaching that goal, with our first step of releasing the CeDeFi version of Rhythm. The Rhythm dApp will give the community a voice in the development of Rhythm with community votes on new feature ideas, more use-cases / new projects for Rhythm, and much more.
We will be releasing our NFT community market during the first half of 2022, where verified artists will be able to list their pins for sale. Pins will be limited edition, tradeable and sellable on our market. We plan on partnering with Artists, YouTubers and Twitch Streamers, where we will release limited edition NFT Artist, YouTuber & Twitch Streamer character pins.
Did you make a great playlist that gained a large following? List your playlist on the community market as a Limited Edition NFT playlist. Playlists that you have purchased will be displayed on your profile. NFT playlists will be tradeable and sellable on the community market. This features release date will be announced during Q1, 2022.
Partnered artists that release new albums and singles will have the option to list their new releases as a Limited Edition NFT on the community market. NFT albums and singles will be tradeable and sellable on the community market. This features release date will be announced during Q1, 2022.
Our embedding tools remixed with the Rhythm Protocol allow us to tokenize the entire YouTube platform. We are innovating the music and blockchain industries and we're showing the entire music industry what DeFi has to offer.
When artists realize that they can link their wallet to their Rhythm account and open a new avenue of revenue per month with tracked streams, NFT's and more, there will be no reason for them not to join as a partner
Our team, which has worked together for the past few years on many projects, with our most significant being Rhythm includes
CEO
Head of Partnerships
Artist Partner
Head of Graphics / Marketing
Head of Marketing
Creative Management
Legal
coming soon
coming soon
coming soon
coming soon
Rhythm Music is our first project in the Rhythm eco-system that will be released. We have another project, which is a non-music related product, that will be announced during Q1, 2022.
Rhythm aims to be the music ecosystem for all of DeFi. We have already started our project partnership program by partnering with multiple successful DeFi projects including SafeMoon, WatcherGuru, Vulkania, and BubbleMaps, and many more. Rhythm will be accepting all partnered tokens as a payment for Rhythm premium subscription service and will continue partnering with and accepting new tokens as a payment for our subscription service.
We plan on burning 50% of all partnered tokens received for our subscription service and will the sell the remaining 50%. The sold tokens will be invested into the Artist Partner Program.
BeatPlaylist LTD (Ryan Davern) holds ownership of the Rhythm smart contract. Why? Well, simply put, whenever PancakeSwap upgrades to a new version, we need to update the Liquidity Pool swap address, which requires ownership of the contract. As of now, there will be no renouncement of ownership as it will disrupt the longevity of the token. We plan on implementing a Multisignature wallet, which will provide more security to the owner wallet.
We locked 4 billion Rhythm on Unicrypt just after we created the Presale. These tokens are linear locked, which means every month around 300 million tokens are unlocked.
We implemented this as our lock strategy to allow us to have tokens at our disposal for exchange partnerships, rewards, our Fiat checkout system and to give our investors peace of mind of knowing we don't have 24/7 access to over 20% of the total supply.
You can view a list of our official wallets here for more information on where developer tokens are held and which tokens are locked/unlocked.
In regards to owner control, we are a legally registered New Zealand LTD governed by a central board which is subject to governmental regulations and law. Our team members are publicly shown on the front page of our website and our business information is displayed on the company office website.
I have provided all of my information including personal and business information to give investors surety and confidence that a rug-pull is not possible for this project.
Additionally, you can view that the company was registered in 2017, proving that we have been working on Rhythm (formerly known as BeatPlaylist) for over four years. This token is not a rug-pull, this is an attempt to innovate both the blockchain and music industry, and I am grateful that I can work on a project that will innovate both industries.
The Rhythm presale was hosted on DxSale and successfully raised 40 BNB in less than 10 seconds, with 100% of the raised BNB being locked for one year and added to PancakeSwap as initial Liquidity.
The maximum trade size is 1% (200 million tokens) of the total supply and all transactions are taxed 8% to mitigate whales. Additionally, we set the maximum contribution per wallet for the Rhythm presale at 1 BNB.
All remaining tokens left in the presale contract are considered burned by DxSale and are included in the total burn amount.
Rhythm also aims to implement a manual burn strategy that is beneficial and rewarding for those engaged for the long term.
The total number of burnt Rhythm is featured on the Tokenomics Total Supply section at the top of this page.
Rhythm employs an automatic liquidity pool algorithm (AutoLP) in its token contract. As mentioned above, the network collects 5% from each transaction, whether the order is a trade, buy or sell, and adds it to the liquidity pool.
As the Rhythm Liquidity Pool increases, the price stability mirrors this function with the benefit of a solid price floor and cushion for holders. The goal here is to minimize price movements when large wallet holders decide to sell their tokens in the future, which, when compared to tokens without an AutoLP system, reduces significant price fluctuations.
Rhythm plans to get multiple audits, starting with TechRate and moving up towards Certik.
You can view the full TechRate audit here
Fiat purchasing of Rhythm will be available directly on Rhythm Music and our website mid Q1, 2022. Fiat Buy was delayed from Q4, 2021 due to length partnership deals. The Fiat wallet will handle buy-back and transferring for Fiat purchases.
Our Fiat payment system will work as followed:
Member enters their Rhythm wallet address, the amount of Rhythm they want to purchase, their debit/credit card information and then confirm the transaction (We will display both the amount of Rhythm the member is purchasing and the purchase price).
Once the transaction is confirmed, we automatically transfer Rhythm from the Fiat wallet to the wallet address provided by the member.
We will do monthly buy-backs of Rhythm with the total amount of Fiat currency accumulated through our payment processor. All buy-backs will be listed here
Additionally, 25% of all Fiat paid premium subscriptions will be invested into the Rhythm Liquidity Pool
The Rhythm contract takes 2% of every transaction and adds it to the Artist Wallet.
Rhythm already has all of the music, and YouTube already pays the artists for non-premium member streams. So artists who choose not to partner with Rhythm are just losing out on their percentage of the pie, which will get delegated to another artist who is partnered with Rhythm.
Now realistically, if you told Kanye that he was losing millions of dollars of potential revenue per month to Travis Scott because Travis Scott was partnered with Rhythm and Kanye wasn’t. The first thing Kanye would do is he would contact his manager and make sure he was partnered with Rhythm the next day.
This system of FOMO will spiral up the entire music industry. When smaller artists are paid out large amounts of transaction taxes every month, which more prominent artists could be receiving, those more prominent artists won’t just sit there and not partner with Rhythm.
During Q4 2021, we will announce our first group of Artists joining the Rhythm Artist Partner Program. Until then, the 2% Artist Tax will be set at 0% and the Liquidity tax will be increased from 5% to 7% to help create a stable price floor for Rhythm and to help fund the development and marketing of Rhythm.
You can view how we are spending the Artist Wallet / Liquidity withdrawal funds here.
The Artist Partner Program will open multiple brand new sources of revenue for our partnered artists and will:
Track partnered artists streams, including both premium and free members through Rhythm and pay them per stream.
Give partnered artists the ability to create and release NFT albums, singles, and pins on our community market for their fans.
Find upcoming artists and offer them a launchpad to boost their audience. Our launchpad will have an artist submission and voting system, which will allow the community to submit their favorite upcoming artists for the launchpad.
Give partnered graphical artists the ability to create and release NFT pins on our community market.
Invest into smaller, upcoming artists that need resources to expand their brands, such as providing equipment, software, and network connections.
1
Initially, artists we are partnered with will split the artist fund equally, monthly.
2
As we partner with more artists, each artist's percentage of the artist wallet will decrease.
3
At this point, we will begin developing a payment percentage algorithm that will calculate an artist's payment percentage based on the number of streams an artist makes out of the total partnered artist streams.
In conclusion, we are creating the first proper bridge between the blockchain and music industry and taking both industries to a whole new level. Join us on the ride and help us shape this next generation of music streaming, blockchain, and NFT's.
If you have any questions or feedback, feel free to contact me via Twitter or Email.
