App function
Upon their selection within the app, the Creator creates a decentralized and autonomous '#Collective' with 1 million governance crypto-coins (“Collective Membership Tokens”). The #Collective's name is registered using Crypto Naming Service (CNS), allowing users to tag their posts and attribute income generated to their preferred collective. The smart contracts underlying the #Collective adhere to the EIP #Collective open-source standard, enabling users to earn income for their posts potentially across various platforms and social networks.
The infrastructure seamlessly creates and deploys a new #Collective for each user in the background while they use the App. If the infrastructure has received a grant from the blockchain, it covers the associated minting gas fees to reduce friction for the Creator. If the infrastructure is unable to cover the gas fees, users have the option to pay gas themselves. The App prioritizes a frictionless user experience while upholding the principles of decentralization, ensuring it surpasses existing "Web 2.0" creator networks like Instagram in user-friendliness and design, without requiring any blockchain knowledge or experience.
Once a user's #Collective begins attracting members or when they choose to interact with the #LivetreeCollective, they can connect to a portal website (dApp) where they can manage their #Collective and the #LivetreeCollective through a non-custodial wallet. While MetaMask is initially chosen for its popularity, participants in Livetree can use any wallet and propose official support for other wallets, including custodial ones.
Users have various ways to interact with creator posts, including sending rewards (tips or e-gifts) in fiat currency, which are charged in-app, and subscribing to content. The in-app payment system was chosen to comply with AppStore terms and conditions and reduce friction. In the future, AI advertising revenue streams will be introduced after thorough testing, ensuring user data decentralization and programmatic advertising bidding.
Royalties are paid into each creator’s #Collective’s Treasury in the native currency of the blockchain they choose to mint their collective. If they do not wish to do this, the creator may elect to switch off the #Collective association and will receive any royalties in the native in-app coin voucher of the App (this coin is called the ‘Trees’) and will be able to exchange the Trees coins into Fiat currency via the dApp website. This functions then the same as, for example, Tiktok tips.
For more infomation regarding how App works please visit Livetree Tutorials hub: