How will the DEIP network help revolutionize the economy of web 3.0 creators?

The advent of Web 3.0 is leading to the shift from a world based on an economy of “value capture” to an economy of “value creation”, which requires a new set of rules to democratize access to resources for the creators. In the future, it is quite possible that the creative industries will become the main engines of economic growth in the world.

Source: DEIP

With the DEIP or Creator Economy Protocol, the team of Collective Intelligence Labs, a research and development incubator specializing in Web 3.0, is focused on creating tools that will facilitate the design of the protocols, applications and platforms that underpin this decentralized infrastructure, so that it becomes the most advanced on the market for this future economy.

The Creator Economy Protocol is the basic network protocol over which all the other protocols are implemented, including the Dynamic Liquidity Protocol and the Collective Intelligence Protocol.

Presentation of DEIP

The protocol is optimized for the tokenization of intangible assets: it allows the discovery, evaluation, licensing and exchange of intangible assets. The tokenization of intangible assets is carried out in the form of F-NFT (or fractionalized NFT), the process of transforming any intangible asset into an F-NFT whose components are:

  • Proof of authenticity that can be verified by all blockchain players;
  • A fractionalized smart contract which will allow the creator and the owner to define the properties of the F-NFT and its mode of distribution;
  • F-NFT listing: it allows the token to benefit from the many features associated with listing on an exchange such as the execution of sale and purchase operations, management of stock order books …
See Also:  According to NIH director Francis Collins, there is enormous potential for further virus outbreaks in the coming years

In addition, the protocol is designed in such a way that the management of these tokenized assets is quite feasible on-chain through the use of DAO and smart contracts.

The improvement in liquidity was also taken into account. Intangible assets are indeed characterized by their lack of liquidity and the protocol has put in place mechanisms to remedy this problem. The Dynamic Liquidity Protocol makes it possible to mine or borrow stablecoins called dX in exchange for tokenized assets deposited as collateral. To recover the asset, a user will need to return the entire amount of stablecoin dX plus interest rates (which will be set through the DEIP governance mechanism).

The Collective Intelligence Protocol was designed to solve the problems associated with the valuation of intangible assets. The protocol was specifically developed to build a high degree of confidence in the assessment process through a consensus mechanism called “proof-of-reputation”.

Technical characteristics of the network:

The DEIP network is secured by a hybrid process based on the proof of stake, the “nominated proof-of-stake”, which has the following characteristics:

  • Scalability: with the increase in the number of portals and users, the network must be able to process many transactions per second. For this, the network uses a chain based on a substrate and the possibility of separating a single chain into several parallel chains;
  • Interoperability: being a substrate-based chain, the DEIP network blockchain is fully interoperable with other ecosystem projects and ensures greater liquidity of stranded assets;
  • A free transaction model: this is a hybrid model that allows you to combine free and paid transactions in the same block.
See Also:  Because of the crisis, "elected officials will choose to increase the property tax"

Access to the network is provided by portals which provide the user interface, the off-chain server and other functionalities for interacting with the DEIP. Each portal focuses on an asset category and a specific industry (patents and patents, film scripts, etc.).

The “DEIP constructor” is presented as the wordpress of web 3.0. Thanks to this, it is possible to build a portal to the DEIP network in a few weeks, not a few years. DEIP constructor has two operating modes: no code and low code.

The token DEIP

The network’s native token fulfills three main functions:

  • Utility token: it is used for the processing of all transactions taking place on the network, whether it is the payment of fees, the execution of smart contracts …
  • Governance token: the DEIP token grants its holders the right to vote during the election of validators and the modification of key network parameters during a referendum;
  • Staking: Network participants can place their DEIP tokens in “staking” on a specific segment of N-NFT and receive returns.

Governance is an essential element of blockchain protocols for securing, maintaining and developing the network. With regard to DEIP, governance is ensured by a structure called the “DEIP council” whose members are elected for a period of one year.

Collective Intelligence Labs will very soon organize an IDO (Initial Dex Offering) on ​​the launch platform Skyward.finance based on NEAR Protocol.

Follow the project on social networks:
On Twitter
On Telegram
On LinkedIn
On Discord

______________________________________________
This article is promotional content and does not constitute investment advice.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.