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1、Gala Film Litepaper October 20231.Token Supply4.Existing Bonuses5.Content Crowd-funding6.Agent Incentives7.Node-based Governance8.Long-term GovernanceConclusion582.Token Distribution3.ComponentsTable of ContentDisclaimerIntroductionPlatform Overview5102345CDisclaimer:Not an Investment Pro

2、spectus or Financial AdviceNo Forward-Looking StatementsRegulatory CompliancePlease be advised that the information provided in this publication is intended solely for informational purposes and does not constitute an investment prospectus,financial advice,or any form of legally binding contractual

3、agreement between you and Gala Film.This publication is not intended to offer,solicit,or recommend the buying,selling,or holding of tokens or any other financial instruments.This publication does not include any“forward-looking statements”as defined by applicable securities laws.Any statements about

4、 future events,scenarios,or otherwise speculative information are given for illustrative purposes and should not be interpreted as a guarantee or insight of future performance or outcome.You should not place reliance on these forward-looking statements,which reflect the views of Gala Film as of the

5、date of publication.The token sale may be subject to local laws and regulations.It is your responsibility to determine the legal standing of Gala Film in your jurisdiction and comply with all relevant laws and regulations.By accessing or using this publication,you acknowledge and agree to the terms

6、set forth in this disclaimer and assume full responsibility for the associated risks.Gala Film disclaims all liability for any loss or damage of any kind that may arise directly or indirectly from the use of,or reliance on,any information contained in this publication.THIS DOCUMENT IS PROPRIETARY TO

7、 GALA FILM BOTH FOR PURPOSES OF COPYRIGHT AND AS RESTRICTED BUSINESS CONTENT AND IS INTENDED FOR YOUR USE ONLY.NO PART OF THESE MATERIALS MAY BE REPRODUCED OR DISTRIBUTED TO ANY THIRD PARTY EXCEPT TO A POTENTIAL BUSINESS,ACCOUNTING,LEGAL,OR TAX ADVISOR(S)INCIDENT TO A CONFIDENTIAL BUSINESS RELATIONS

8、HIP FOR THE PURPOSE OF EVALUATING THE PRODUCT.Within the Gala Ecosystem,we have always worked to drive innovation.First via Gala Games,then via Gala Music,and now with Gala Film.As digital technologies continue to disrupt traditional industries,the film sector remains an area ripe for innovation.Whi

9、le mainstream platforms have provided an alternative to conventional distribution methods,they often fall short in democratizing access for creators and viewers alike.This is where Gala Film steps in.We are creating an ecosystem where filmmakers,producers,directors,financiers,and audiences can inter

10、act seamlessly,without the need for middlemen or centralized platforms.By leveraging emerging technologies,Gala Film introduces a transparent,secure,and efficient way to fund,produce,and distribute cinematic content.Our unique model is designed to solve various pain points in the current film produc

11、tion landscape.At the core of our ecosystem is the Gala Film Nodes,powered by the$FILM token.The Gala Film Nodes serve a central role supporting the ecosystem as a whole through providing decentralized storage for film content and much more.$FILM is a utility token and is used in all internal transa

12、ctions,from crowdfunding new projects to purchasing theater rights.The long-term plan for decentralization integrates novel new concepts to advance the industry in this ever-evolving space.We believe that by embracing a truly decentralized approach,we empower filmmakers to maintain creative control

13、while fostering a community-driven environment that benefits both creators and consumers.While we stand at the center of this ecosystem as it grows,we believe that in order to achieve the long-term vision,the community of node operators and token holders must be DEEPLY engaged to advance the cause o

14、f decentralization.This short introductory paper will delve into the intricacies of Gala Films architecture,briefly expound upon our tokenomics model,and provide a vision of a roadmap for the future.Join us in rewriting the narrative for film production and distribution,as we usher in a new era of c

15、inematic experience.In the future,there will be a much more involved publication that provides more documentation and deeper explanations.The current plan is to publish this document as an evolving and open-source publication on a public code repository such as Github,enabling the community to have

16、the ability to propose additions,expansions,or IntroductionIn a“fair launch”model,there is no“premint”allocation for the team,early backers,or public sale.There is,however,a portion of tokens that are created to award users for actions prior to the activation of the ecosystem that have been running

17、their nodes.This will convert all existing“Popcorn Buckets”into$FILM and provide a reserve of tokens for ecosystem initiatives.The current plan is to convert all$POPCORN into$FILM at a 1/10 ratio,with a bonus for larger buckets.This means that for every unit of$POPCORN you have,you are likely to rec

18、eive 10$FILM tokens after the Token Generation Event.$POPCORN will continue to exist after this initial conversion period.This will give users the freedom to decide when they would like to convert their$POPCORN into$FILM,giving them flexibility in terms of both the amount they convert and the potent

19、ial externally perceived value at the time of conversion.When$POPCORN is converted into$FILM,it is done at a rate that favors larger holdings of$POPCORN.$POPCORN is distributed for node operation and for other actions within the ecosystem,and having a preferential conversion for larger amounts of$PO

20、PCORN incentivizes the accumulation of$POPCORN and the performing of more ecosystem-supporting actions.$POPCORN can be used in the platform without conversion to retain the benefit of accumulation.Tokenomics Guidelines1.Token Supply2.Token DistributionThe total supply of$FILM tokens will not be pred

21、etermined or hard-capped on-chain.Instead,tokens will be minted through an emission mechanism regulated by network nodes.This token structure will roughly align with the structure already used by the$GALA token.There will be a maxSupply in the sense that the current totalSupply can never exceed 500,

22、000,000 tokens.These tokenomics guidelines are subject to change up until the day that the tokens are minted and$POPCORN is converted into$FILM.This is,however,the current Gala Film($FILM)is a decentralized platform that rewards users for their engagement in consuming and supporting films.With a fai

23、r launch model,a node-based emission mechanism,and a viral sharing incentive,the platform ensures a democratized and efficient approach to content distribution and token generation.Platform OContent Incentivization Mechanism(20%initial)Publishers,Creators,and Galaxian Viewers will earn$FILM tokens b

24、ased on the amount of content consumed on the platform.For example,if a publisher or creator brings an independent film to Gala Film,they would receive$FILM tokens based on the viewership of their project,in addition to any sales on the platform they would additionally receive.2.3.Operator Supply(50

25、%initial)The operator begins receiving 50%of the token mint allocations,with this reducing by 5%annually with total platform decentralization to be achieved within ten years.The operator reserves the right to distribute this token as needed to support ongoing operations,but some basic categories whi

26、ch will be funded from this allocation are:Node Operation and Rewards(10%initial)Individuals or entities running nodes to support the ecosystem will be rewarded with$FILM tokens.These nodes host film content,which is erasure-encoded and sharded across multiple storage volumes for efficient distribut

27、ion in the Gala Film Content Delivery Network.The tokens are generated or minted in response to verifiable proofs of storage and retrieval.While this is initially 10%of the emission rate,it increases by 2.5%annually.2.1.2.2.2.1.1.2.1.2.2.1.3.2.1.4.2.1.5.2.1.6.2.1.7.Development CostsMarketing Events

28、Partnerships Grants Minimum GuaranteesEtc.Rather than a premine of the total maxSupply,as is common with most tokens,all tokens are instead minted through user engagement,node operation,and content sharing.The max emission rate is a set%of the remainder to the softCap making the emission functionall

29、y eternal,but providing a smooth emissions curve of.05%of the remaining tokens to softCap(maxSupply-totalSupply)*.0005)/day).However,the actual emission rate could be as low as 10%of this amount.Galaxians can only earn tokens by watching if they also actively grow the platform via shares and referre

30、d users.This is similar to the early Founders Node referral reward model but instead of focusing only on sales/node operation,it also allocates rewards based on actual involvement with the ecosystem,rather than just referred sales.While this is initially 20%of the emission rate,it increases by 2.5%a

31、nnually.Ecosystem Supporting Behaviors(20%initial and the keystone segment)To encourage the spread of content and attract new users,Gala Film will distribute tokens based on what we deem to be positive ecosystem supporting actions.These actions are entirely at our discretion and determine the number

32、 of tokens distributed on any given 2.4.1.Qualifying Actions(Examples)There are many actions which could potentially qualify as ecosystem supporting behaviors.The list of these actions will be published and users will be able to see which actions result in the greatest reward within any given distri

33、bution cycle.Examples of these actions may include but are not limited to:WatchingReferralsCollectingSupport Ecosystem2.4.1.1.2.4.1.3.2.4.1.4.2.4.1.2.2.4.1.1.1.2.4.1.1.2.2.4.1.3.1.2.4.1.3.2.2.4.1.4.1.2.4.1.4.2.2.4.1.2.1.2.4.1.2.2.2.4.1.2.3.2.4.1.2.4.Watch Films Watch Series EpisodesRefer a friend(wh

34、o completes certain actions)Your referred friend refers a friend(who completes certain actions)Completing a shard setCompleting all shard sets for a Film/SeriesPair a reward earning NFT(aka a Moment)Complete a Scene(a collection of particular Moments)Bridge tokens into GalaChainLink to Rep on Chain1

35、00%Ecosystem Supporting BehaviorsContent IncentivizationNode Operations and RewardsGala Allocation75%50%25%0%Year 0Year 0Year 1Year 1Year 2Year 2Year 3Year 3Year 4Year 4Year 5Year 5Year 6Year 6Year 7Year 7Year 8Year 8Year 9Year 9Year 10Year The key to this distribution is that all actions which qual

36、ify as“Ecosystem Supporting Actions”must be publicly visible and verifiable.This means that they either need to be written to chain or available in public in a way that the data surrounding them can be pulled via API and integrated into a distribution formula that is independently verifiable and Mon

37、thly MAX and MIN EmissionsTotalSupply Over Time(with Min and Max Emissions)6,000,000.004,000,000.002,000,000.000.00002020404060608,000,000.00500,000,000.00400,000,000.00300,000,000.00200,000,000.00100,000,000.000.00MAX EmissionsMinTotal EmissionMIN EmissionsMaxTotal EmissionMonthM3.ComponentsMoments

38、&ScenesWe are committed to nurturing a vibrant ecosystem where enthusiasts and collectors are not only encouraged but also rewarded for their active participation.A key component to the platform lies in the concept of Moments(aka reward earning collectible).Moments are designed to amplify your colle

39、ction adventure by offering$FILM token incentives that go beyond the ordinary.As you delve into the world of Moments,youll discover an innovative token distribution bonus system that celebrates your dedication to your favorite content.Moments Moments are individual units of a scene extracted from fi

40、lms or series available on the platform.Each Moment is represented as a digital collectible.A significant feature of Moments is their daily earning potential,which rewards Moment holders based on the performance of the associated film or series on the platform.These daily rewards are a function of t

41、he popularity and viewership of the content,creating a dynamic value proposition for Moments.Importantly,Moments come with varying levels of rarity that dictate their drop rate,ranging from common to golden tier.This rarity factor not only impacts the likelihood of acquiring a particular Moment but

42、also adds an exciting dynamic to the collection process,encouraging users to assemble comprehensive and immersive collections that span various levels of rarity.3.1.Rarity LevelsCommon Moments60Silver Moments30Golden Moments10Drop Rate(%)3.3.1.3.3.2.Scene Completion BoostFull Series/Film Collection

43、BoostUsers who manage to collect all the Moments comprising a full Scene will experience a boost in their daily rewards.This provides an additional incentive for users to assemble complete Scenes from their favorite films or series,adding an element of gamification and accomplishment to the Moments

44、experience.Achieving the remarkable feat of collecting all the Scenes from a particular film or series results in yet another,and a more significant rewards boost.This encourages users to explore and engage deeply with their favorite content,ultimately creating a compelling ecosystem of film and ser

45、ies-related collections.The integration of Moments and Scenes into the Gala Film ecosystem creates a unique and immersive experience for users.By blending daily rewards with strategic collection opportunities and additional boosts,this innovative digital collectible system not only enhances user eng

46、agement but also solidifies the platforms commitment to rewarding and acknowledging the dedication of its user community.Reward Boosts The token reward system introduces the concept of boosts,which incentivizes the acquisition of full Scenes and even complete collections of Scenes from a particular

47、film or series.The reward potential of Moments serves as a daily basis for token rewards,while the following additional boosts further enrich the user experience:3.3.Scenes Scenes are curated collections of Moments,strategically assembled to represent pivotal sequences from films or series.Each film

48、 or series featured on the platform will offer a selection of notable Scenes,which users can collect in part or entirety by owning individual Moments that constitute those Scenes.The collection of Scenes adds a layer of engagement and interactivity,allowing users to build a more comprehensive and im

49、mersive Token Distribution BonusesAt Gala Film,we are dedicated to nurturing a thriving ecosystem where Galaxians are incentivised to contribute positively.Our token distribution bonus system is designed to reward Galaxians for their engagement&activities within the ecosystem.At the time of writing,

50、there are two activities that can lead to a distribution bonus:4.Existing BonusesGalaverse Scenes(given out during Galaverse Malta 2022)If a Galaxians wallet contains a Galaverse Scene(s),their daily distribution will receive a 0.025%bonus.This bonus stacks is cumulative for each unique Galverse Sce

51、ne,allowing Galaxians to earn up to a 0.5%multiplier(20 unique scenes*0.025%distribution bonus).NOTE:This multiplier is applied for each unique scene;multiple copies of the same scene will not receive additional distribution boosts.For Galaxians who possess all 20 unique Galaverse Scenes,an exceptio

52、nal 10 x bonus will be applied,elevating their distribution bonus to 5%.NOTE:Multiple full sets also do not stackBT Orbs(sold in early 2022):If a Galaxians wallet contains a BT Orb NFT(Limited Edition),their daily distribution will receive a.0125%bonus.This bonus stacks and is cumulative for each BT

53、 Orb NFT(Limited Edition)and is unlimited.The Open Edition BT Orb NFTs also receive a bonus,but one which is 10%of the Limited Edition BT OGala Films recognizes that our community is at the heart of our success,and we are deeply appreciative of the contributions and enthusiasm of our users.The token

54、 distribution bonuses weve outlined are part of our ongoing efforts to express our gratitude and encourage further engagement.We look forward to working closely with our community to refine and expand these bonuses,ensuring that they reflect the values and aspirations we all share in building a dyna

55、mic Web3 film proposition.User Levels Galaxian distribution is positively correlated with their User Level.Galaxians will be assigned an User Level based on their activity and contributions within the Gala Film ecosystem.Watching,supporting,referring&collecting will all contribute to a Galaxians Use

56、r level.More detailed information on User Levels will be provided closer to Token L6.Agent IncentivesUsers can contribute their$FILM tokens to film projects they are interested in.In return for this crowd-funding,they receive unique benefits such as early access to the film,exclusive behind-the-scen

57、es content,etc.Agents who refer filmmakers who list their projects for crowd-funding on the platform will also earn a%of$FILM tokens allocated to those projects.This provides a direct monetary incentive for agents and industry professionals to drive filmmakers to choose this platform for funding and

58、 distribution.5.Content Crowd-fundingToken Locks and Delegated Fundraisings When users allocate tokens to a set pool for a specific film,they may receive early access keys,Mystery Boxes,etc.This pool,however,remains locked until it is handed over to the film which has been funded.These tokens will u

59、nlock at a set rate going forward on a set vesting schedule.However,critically,these pools can be delegated and sold BY THE FILMMAKERS to potential investors in the space.This makes the Filmmakers,which already sell equity and raise funds for their films,able to make the decision of whether they wou

60、ld like a slowly vesting block of tokens or to sell them to a fund or VC interest.From an industry perspective,this is similar to bonds which filmmakers typically get from specific jurisdictions to incentivize filmmaking and then which are resold to investors,allowing filmmakers to access the funds

61、themselves.The locks for contribution to a pool would be for a minimum of 90 days,or up to 18 months.This number would be determined by the person establishing the pool initially.In the event that the pool is fully funded and a filmmaker is given access to a pool of tokens,the lock automatically con

62、verts to a 24-month lock with a set vesting period.This locked token tranche can either then be held by the filmmaker,or sold to another entity in exchange for fiat or other valuable considerations.In addition,a small percentage of the locked pool will be added to a Governance-controlled pool for ec

63、osystem support as well as Agent Incentives(if applicable)5.1.Crowd-Funding for F7.Node-based GovernanceFilm Node operators are given voting rights in the film platforms governance.They can participate in key decisions about the platforms future,such as changes to the tokenomics model,new feature pr

64、oposals,and more.No power to determine whether a film comes to the platform or not-governance limited to platform operation and the following activitiesNode operators can vote on the types of content allowed on the platform.This can include voting on content guidelines,enforcing community standards,

65、and deciding on acceptable and unacceptable content.Other than specific moderation guidelines,nodes do not make content decisions about what can and cannot come to the network.Node operators can be involved in voting processes related to content quality.This could include deciding the technical stan

66、dards for content,such as resolution,format,and other specifications.They can vote on any changes to the platforms fee structures,including transaction fees,withdrawal fees,and any other platform-specific fees.Nodes CannotNodes Can7.2.7.1.7.2.1.7.1.1.7.2.2.7.1.2.7.1.3.Gate-keep Gala ActivitiesConten

67、t ModerationQuality ControlFee StructuresMake Content D8.Long-term GovernanceDecentralization is the very ethos upon which the Gala Ecosystem is built,aiming to dismantle centralized authority and distribute power back to users in Games,Film,and Music.In traditional film and entertainment models,con

68、trol and data reside with a few entities,leading to monopolistic behaviors and potential exploitation.In contrast,a decentralized approach fosters transparency,security,and trust by removing single points of failure.It promotes a collaborative ecosystem where each participant has a voice and a stake

69、 in the networks growth.Moreover,decentralization drives innovation by creating a permissionless environment where anyone can contribute and build.For Gala Film,achieving genuine decentralization is not just a technological endeavor but a commitment to reshaping the digital landscape,ensuring Galaxi

70、ans reclaim ownership of their entertainment experience,and fostering a more equitable internet.Embracing this journey is a testament to a projects dedication to a more open and inclusive digital future.To advance this,Gala Film will operate under a bicameral structure with an elected“executive bran

71、ch”which ensures diverse representation,effective checks and balances,and robust decision-making,fostering a sustainable platform for the long-term.Decisions cover platform improvements,content moderation,reward mechanisms,security measures,and The addition of a viral sharing component incentivizes

72、users to promote the platform and its content,thereby increasing platform visibility,enhancing content distribution,and attracting new users,all while rewarding active participants for their contributions.The long-term plan is for Gala Film to adopt a bicameral structure for robust governance,incorp

73、orating a Decentralized Autonomous Organization(DAO)and the Film Node Ecosystem in opposition to one another in a sort of bicameral legislature.The DAO will be composed of$FILM token holders,with each token representing a voting right on proposals affecting the platform.The Film Node ecosystem,consi

74、sting of individuals or entities running nodes,votes on technical and operational aspects.To enact a proposal,it must garner majority approval from both the DAO and the Node Ecosystem,creating a balance of power.A group of five officials,elected by the DAO and the Nodes,effectively“hold the keys”to

75、the ecosystem and are charged with the successful operation of the platform.Initially,these members would be executives of the Gala Films Business Entity,but as decentralization approaches,they should begin to be replaced by elected community members with the first two being elected in the third yea

76、r of actual operation.The Gala Film DAOThe Film Node EcosystemThe Film CIn conclusion,Gala Film is not merely an idea;its a full-fledged vision for reshaping the landscape of film production and distribution.Our ecosystem paves the way for a democratized and decentralized approach that directly addr

77、esses the inefficiencies and inequalities inherent in the current system.However,this publication serves merely as an introduction to the ambitious path we aim to tread.In subsequent sections,yet to be presented,we will delve deeper into technical specifications,regulatory compliance,risk assessment

78、s,and an exhaustive roadmap.We will also expand upon our strategies for community engagement,partnerships,and the phased rollout of our platform features.While the road ahead is long and filled with challenges,the opportunities are boundless.The global film industry is at a crossroads,and we believe

79、 that Gala Film holds the key to its future.By aligning our project with the core principles of decentralization,transparency,and community engagement,we are setting the stage for an industry-wide transformation.We invite you to join us on this exciting journey.Whether youre a filmmaker wanting more

80、 creative control,an investor looking for untapped opportunities,or an audience member seeking unique and diverse content,theres a place for you in the Gala Film ecosystem.Thank you for considering our vision,and we look forward to presenting our full paper,which will expand our plans and aspiration

81、s in greater detail.ConclusionThis is a living document and as it is intended to eventually be fully operated and overseen by the community,we want the community to be able to help us improve and clarify any unclear points in the Litepaper.Please see the most up-to-date version in the Gala Film GitHub Repo by scanning the QR code.