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)
Transaction Tax (10%)
5% added to liquidity pool
3% distributed to holders
2% added to artist wallet view spending
Current Price: $0.000063835
Market Cap: $1,276,709
Diamond Users: 42
Gold Users: 107
Silver Users: 346+
The music industry is a barely touched market in the crypto space 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.
BeatPlaylist 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.
BeatPlaylist 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 BeatPlaylist and will take baby steps towards reaching that goal, with our first step of releasing the CeDeFi version of BeatPlaylist. The Rhythm dApp will give the community a voice in the development of BeatPlaylist 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.
Watch a demonstration video of BeatPlaylist here
Our embedding tools remixed with the Rhythm Protocol allow us to tokenize the entire YouTube platform. We are innovating the music and crypto industry and we're showing the entire music industry what DeFi has to offer.
When artists realize that they can link their wallet to their BeatPlaylist 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 & BeatPlaylist includes
CEO & Developer
Head of Marketing
Head of Media
BeatPlaylist 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 two successful DeFi projects HODL2.0 and WSPP. BeatPlaylist will be accepting Rhythm, HODL, and WSPP as a payment method for our BeatPlaylist 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.
Initial Liquidity will be locked automatically on DxSale for 1 year after the presale is finalized and we will continue to lock Liquidity on Unicrypt for 6 months at a time. We will ensure our lock schedule allows for liquidity to be migrated to V3 of PancakeSwap when it is released and to allow for marketing / giveaway expenses.
In regards to owner control, we are a legally registered New Zealand LTD company 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 BeatPlaylist for over four years. This token is not a rug-pull, this is an attempt to innovate both the crypto and music industry, and I am grateful that I can work on a project that will innovate both industries.
We will ensure that we build both a trustworthy project and be as transparent as possible. I plan to do livestreams, where I just program and hang out with the chat, answer questions, and get feedback/ideas for Rhythm and BeatPlaylist. You will see BeatPlaylist in live development and get early viewing access to see BeatPlaylist, its features, and how it runs behind the user interface.
The Presale of Rhythm will be hosted on DxSale, to raise 40 BNB, with 100% of the raised BNB being added to PancakeSwap as Liquidity and locked on DxSale for one year. We chose 20 BNB as our soft cap and 40 BNB as our hard cap to minimize the tokens leftover in the DxSale presale contract.
The maximum trade size is 1% (200 million tokens) of the total supply and all transactions are taxed 10% 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 throughout the year, starting with TechRate and moving up towards Certik.
You can view the full TechRate audit here.
We plan to release Fiat (debit/credit card) purchasing of Rhythm, directly available on BeatPlaylist and our website late Q4, 2021. The Fiat wallet will handle buy-back and transferring for Fiat purchases.
Our Fiat payment system will work as followed:
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.
BeatPlaylist 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 both Rhythm and BeatPlaylist.
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 users through BeatPlaylist 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.
All Artists partnered with Rhythm will share a piece of the pie, and payments will be sent monthly and directly to artist wallets.
In conclusion, we are creating the first proper bridge between the crypto 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, crypto, and NFT's.