Token Utility

Token Utility

Platform Staking Rewards

• Staking $FAV on the Favourse Platform will give staking rewards that come from Transaction Fees, Ticket Sales, Sales Commissions, Paid Voting with $FAV, Voting Competitions, Ad Revenue, Creator boosts content with $FAV

Event Staking Rewards

• User backs/crowdfunds a particular event, receives the benefits defined for that crowdfunding-level, e.g. ticket; the user matches that amount with staking $FAV for that event time and receives staking rewards from the revenue of ticket sales and other sales like merchandise generated from that event

Creator/Event Organizer Staking Rewards

• CreatorCoins: Introducing unique tokens for creators to reward their fans through promoting, creating and selling their events, products, and services, powered by $FAV

• The Creator can mint their own CreatorCoin based on $FAV

• CreatorCoins can only be bought with $FAV

• Example: If the Creator mints her CreatorCoin with 1000 $FAV that will be the initial market cap for that particular CreatorCoin (e.g. if $FAV is $0.10, the Initial Market Cap will be $100)

• A transaction fee of 6% will be distributed in the following way
• 3% of all buys/sells will go to the Favourse Platform of which part of the profits will be distributed among $FAV Favourse Platform Stakers
• 1.5% of all buys/sells will go to the CreatorCoin Pool that will be distributed among that particular CreatorCoin Stakers
• 1.5% of all buys/sells will go to the Creator of that particular CreatorCoin

• 10% of all revenue generated (e.g. ticket sales, merch, in-event-purchases, in-app-items) through that particular Creator will be distributed in the following way
• 5% to Favourse Platform which will be further distributed among $FAV Platform Stakers
• 5% to that particular CreatorCoin Stakers

FavNFT

• Creators can mint FavNFTs

• FavNFTs can only be bought with $FAV

Holder Benefits

• 20% discount of transaction fees

• 3%-5% cashback on selected purchases

Favourse Membership

• The Favourse Premium Membership will allow users to enjoy exclusive premium benefits and rewards

• NFT Drops: Exclusive NFT drops and premium perks for members

• Early Access to new features

Spending $FAV

• Users can use $FAV to buy "SuperVotes"; Super Voting allows users to amplify their suggestions for events, products, and services.

• Users can use $FAV to buy Recognition Awards: These Awards recognize creators and contributors for their exceptional contributions to the success of Events, Creators, and the Favourse Platform

• Direct Donations: Users can donate $FAV directly to creators, events, and more, fostering community support.

Incentives & Rewards

• Users receive $FAV Rewards by logging in 7 days per month

• Users can participate in Weekly Missions to win exclusives prizes

Competitions

• Creators will be awarded $FAV for winning Voting Competitions like for Fastest Trending Creator on Favourse or specific fields or for most innovative event

• Users can Vote and SuperVote for Creators for these Voting Competitions

Referral Rewards

• Users receive 20% of their friends’ transaction fees they refer to Favourse (e.g. 20% of 5% platform transaction fee)

Token Withdrawals

• Creators need to have received at least 300 votes and have invited at least 3 friends to Favourse

• Users need to have done at least 100 activities on Favourse like suggested and voted for Creators, purchased tickets, participate in Daily Rewards or Weekly Prize Competitions or done Paid Voting and have invited at least 3 friends to Favourse

• Users that choose to receive their proceeds in $FAV instead and directly staking that amount instead of withdrawing it in fiat, will receive a Withdraw Staking Bonus from the Favourse Staking Pool