AUDIO token is now listed on Liquid and available for all users!
What is AUDIO Token?
AUDIO is the native token for Audius, a decentralized music streaming protocol initially built on POA network, but now living on Solana. Audius was launched to remedy the inefficiencies of the music industry, which is plagued by intransparent music rights ownership and intermediaries standing between artists and their audience.
The token is designed for three main purposes:
- Securing the network
- Unlocking access to features
- Acting as a governance token
Tokens can be staked as collateral of value-added services. Node operators can also stake AUDIO to secure the network and run the protocol, while each token also receives governance weight and influences the protocol’s future.
What is Audius?
The Audius ecosystem consists of four main participants: artists, fans, content nodes and discovery nodes.
Artists publish content on the Audius content ledger. They can do so at no cost and music is streamed at 320kbps, comparable to standards of Spotify and Google Play Music. Because of Audius’ decentralized nature, there is no copyright protection, although the protocol is working on an arbitration system that will be overlooked by the community. Artists can use Audius to experiment or share bonus tracks, and the platform plans to include artist tokens to facilitate monetization, subject to artists staking AUDIO. Artists can also articipate in reward schemes that see tokens airdropped to the most popular artists.
Fans can listen to tracks for free and may in the future be able to stake AUDIO to participate in artists’ growth on the platform. They can also showcase their verified NFTs through the platform and earn different badges.
Content nodes maintain the availability of content on AudSP, the platform-native extension to IPFS. An artist’s client elects a set of these nodes to do so automatically on the artist’s behalf, while fan clients fetch the content, submit proof, and request keys to content nodes. Artists could also choose to run their own content nodes and maintain greater control over their content distribution. The content ledger maintains a record and a single source of truth for all actions on the protocol.
AUDIO Listing Details
Listing Date: March 28th, 2022 at 3 PM (JST).
Listing pair: AUDIO/USDT
From 28th of March, 2022 – 11th of April, 2022 we offer 0 fees for trading AUDIO pairs on Liquid.