Pine Muse NFT and PIM token circulation ecosystem
NFT and PIM to energize remake auditions
Pine Muse issues NFTs for proving remake rights when holding remake auditions. Artists use PIM purchased from virtual asset exchanges or secured from the platform to purchase ‘Remake Rights NFT’ on the Pine Muse platform. Artists can upload audition contents on the platform after registering ‘Remake Rights NFT’ on the Pine Muse platform. Some of the NFT sales revenue is airdropped in token to platform participants according to their contribution.
NFT and PIM to energize Artist Home
Artists can use NFTs and PIM to manage their histories of audition content, general music content, etc. and their fandoms. When the fandom is formed through ‘Artist Home’ and an artist issues a ‘Fandom NFT,’ the fandom purchases it with PIM to support the artist’s creative activities. In addition, fandom can purchase tickets for online concerts of ‘Artist Home’ with PIM.
PIM for community revenue sharing
Profits which are generated from audition participation, neighboring rights, etc. are paid in PIM according to the community revenue sharing system.
Establishment and management of the Co-ownership Token Stabilization Fun
The foundation establishes and operates the ‘Co-ownership Token Stabilization Fund’ to secure the appropriateness of the net asset value of the PIM token and to secure the stability of the token circulation value.
Establishment method and financial resources
The 'Token Stabilization Fund' is established by entrusting some of the profits generated through the revenue sharing system of the Pine Muse ecosystem to external institutions such as financial institutions. A portion of the profits from neighboring rights generated from remake songs are used as the main source of the fund.
The detailed operating principles are determined by reflecting the proposals of the Pine Muse Steering Committee and the opinions of the community. Making deposits in or withdrawals from the ‘Token Stabilization Fund’ are carried out after the entrusted institution deliberates on their appropriateness in accordance with the principle of operation of the fund.
It is used to maintain the stable market value of the token by buying or selling tokens on virtual asset exchanges when the token circulation value and the appropriate proportional value of the ‘Token Stabilization Fund’ have significantly changed.
The 'Token Stabilization Fund' is operated as a cashable assets and is deposited in external institutions such as financial institutions for stable profits. Some of the profits generated from stable asset management can be used as a support budget for energizing the Pine Muse ecosystem, such as raising artists.
Token custody system
The PIM tokens held by the foundation are managed by entrusting them to external institutions to establish a transparent distribution system. Token distribution is carried out after the deliberation of the entrusted institution as to whether it conforms to the operating principles proposed by Pine Muse.
PIM token issuance and distribution plan
Total issuance limit
The total issuance limit of the PIM token is 10 billion.
Token distribution plan
Lock-up release criteria for token distribution targets
Calculation of token circulating supply
Lock-up is set according to the token lock-up standard (period and conditional lock-up standard), and all distribution quantity except for the quantity managed by the entrusted institution is calculated as 'Circulating Supply.'
※ Circulating Supply = Total Issuance Quantity - Entrusted Institution Lock-up Quantity
Token distribution management method
If the token's lock-up release criteria are met and a request is sent to the entrusted institution for lock-up release and distribution, the entrusted institution directly distributes the tokens after deliberation as to whether it conforms to the operating principles proposed by Pine Muse.
The PIM Foundation discloses the total issuance and the circulating supply of the PIM token on information platforms that discloses token-related contents, including virtual asset exchanges.
Major issues occurring in the Pine Muse ecosystem, such as investment attraction and change in management team are also transparently disclosed on virtual asset-related information platforms.
In the case of conditional lock-up, the disclosure policy for lock-up release are as follows.