WHITE PAPER FOR "cnft" Blockchain Project.

White Paper for CNFT (Content-Creators's NFT) Project:

What is CNFT?
YNFT (Content-Creator’s NFT) is the NFT platform where youtubers can upload their Video Thumbnails as NFTs. We built this ynft crypto project after Forking AVALON/dtube blockchain.

a) We included Voting System (like dapps in Steem/Hive/dtube Environment).

b) And we also included the facilities to purchase, hold & resell NFTs (like all NFT Platforms)

We have ynft p2p Exchange also. The purpose of this p2p exchange is to trade e-Gift Cards for ynft coins (or for NFTs). So, you can a) Earn b) buy Gift Cards & c) Buy products online.

1. How People gain benefit in a Real World for having ynft coins?

People can purchase almost anything from online by using our “ynft coins & ynft p2p exchange”. In our exchange, you will be able to buy/sell gift cards that help to purchase products from amazon, google play, flipkart etc. etc.

TOKENOMICS:

1. How can Youtubers Earn ynft coins?

ynft coins can be earned in two ways by youtubers.

a) By giving/recieving votes to NFTs.
b) By buying the NFTs & selling it for higher price.

1. Can I Multiply ynft Coins just by Voting the NFTs of other youtubers?

Yes. First you have to buy ynft coins. And based on the coins, you will get voting power (vp). According to the VP you will get coins when you vote.

1. How & When the VP increases or decreases?

When You purchase ynft Coins, you will begin to produce 1 VP for 1 ynft coin for every hour. So, the VP will increase & it will not decrease forever.

NOTE: Percentage of VP will be reduced when you sell your ynft coins. Otherthan that VP will not reduce for any reason.

1. Is there limit for VP increment?

VP is directly proportional to the Total Average VP (TAVP) of all users.

VP never exceeds TAVP. That is the limit for VP increment. So, VP can grow only until the VP reaches the value of TAVP.

The TAVP will keep on increasing so the VP will also increase consistently until the VP becomes equal to TAVP. And the cycle continues.

1. If the VP is in a certain value & if the TAVP decreases, how the VP generates Coins?

In this case, the user cant generate further profit. He/She has to wait until the TAVP raises above his/her VP.

But, soon TAVP will exceed his/her VP because of our Profit Sharing Formula.

1. How TAVP will increase even when more no. of new users come in (Because all new users will only have less VP.)?

To increase the TAVP constantly we have a Profit Sharing Formula.

ie, Our network will automatically share the Extra Profit (EP) from all the Users (whose VP is reached the limit) to the reward pool & distribute to every users.

In this way, every users will recieve equal amount of ynft coins that will make everyone to boost their VP. This will increase the TAVP.

NOTE: Extra Profit will be generated for the reward pool when users who reach the Earning limit. These extra profit will only be beneficial because of two reasons. 1) It increases the TAVP (So, it is possible to earn more) 2) Profit Share will be distributed to all the users.

No users will loose money from their profit.

1. On What Basis the Extra Profits are generated by the Network?

If the VP reaches the limit for any user, to benefit them further, the network will allow Limit-Reached-Users to generate more profits for the reward pòol, ie 2x (or any value) of theTAVP.

The money in the reward pool will be distributed equally to all the users.

NOTE: This 2x value is a variable & can be changed after the onchain voting of the Elected Leaders & Volunteers. Users can elect New Leaders & Volunteers as their wish.

1. Will the VP increase when there is zero balance?

No. VP will not increase further from the moment the account holds less than 1 ynft coin.

And, VP will be reduced when you sell or transact your coins to other accounts.

VP reduction percentage is directly proportional to selling-the-ynft-coin-percentage.

ie, if you sell 10% of coins, 10% of your VP will be reduced. If suppose you sell 45% of coins then 45% of your VP will be reduced.

But, the user can continue to earn with the available VP by voting the NFTs.

1. What is the elegibility to Vote?

1. Only VP is required for ‘One Side Earning (OSE)’.

2. VP & NFT of other Youtuber is needed for ‘Two Side Earning (TSE)’.

1. What is the difference between ‘One Side’ & ‘Two Side’ Earning?

In OSE, when you vote you will earn by giving vote & another youtuber will earn for recieving vote.

In TSE, you will get coins for giving vote in two ways.

a) directly the coins will be generated in your account (same as OSE)

and

b) 80% earning that is earned by the specfic youtuber (of that NFT) via your vote will also be given to you.

1. Where does the extra 20% Coins go from TSE?

Remaining 20% Coins:

Out of 20%, 15% goes to the youtuber & 5% goes for the development Team.

1. How can I become elegible for TSE?

If you purchase the NFT of an Youtuber named ‘A’, you will get TSE money only from Youtuber ‘A’.

But, you cannot get TSE money from other youtubers named ‘B’ or ‘C’ or etc.

So, to get TSE money from ‘B’ or ‘C’, you must purchase their NFTs as well.

1. Will the economy collapse by the generation of too much money?

No, the generation of money is controlled by TAVP.

And, Leaders can vote & change the Value of ‘Extra Profit Generation’ from 2x to 3x or 1.5x or 1.25x or 0.3x etc.

1. What if a voter (who is eligible to vote & earn) is voting the nft of the account that reaches the earning limit?

Only the voter has to earn money & not the vote-recieving-author.

The money of vote-recieving-author is for reward pool (until his profit reaches the Extra Profit Limit).

1. Is there Fees/Tax on NFT sales?

The answer is Yes. And 90% of the money goes to the NFT seller & 10% is tax for each sales/resales.

1. How the Money in the Reward Pool will be spent?

All the Money in the reward pool will be distributed to all the users.

1. Can I purchase NFTs for a lesser price than the shown Price?

Yes, you can purchase NFTs for lesser Price if you make a purchase using Demanded Gift Card. The offer price will also be shown Near to the Actual Price of NFTs.

1. How can I buy ynft coins?

ynft coins can be purchased by selling Demanded Gift Cards on YNFT Exchange.

Or, you can buy from other Crypto Exchanges.

We encourage you to participate on our ynft exchange.

1. Can users replace Onchain Leaders & Volunteers?

Account verification will be done by the Onchain Leaders & Volunteers elected by users. These Leaders/Volunters can be replaced into new Leaders & Volunteers by the users with their voting decisions.

1. Can anyone participate in the ynft network?

We will offer two Level of verificatioon. 1) For Investors & 2) For Youtubers to post their Thumbnails as NFT.

LEVEL 1 For Investors:

Investors can also gain huge benefits from our Network. Investor Login Accounts can Vote & Earn. They recieve Profit Share as well. They will recieve consistent income without doing anything (but only for supporting our Project financially).

LEVEL 2 For Youtubers:

Currently to participate in ynft network as an Youtuber, you must have/create an youtube channel. And, you must be an active youtuber.

(To protect our DAPP from the scammers or Only Money Minded People (as how lot of dapps on steem network got affected) we will go by verifying the Accounts in a Decentralized Way by electing onchain volunteers.)

Our Network is only for creative people.

NOTE:

Level 1 Users can raise to Level 2, if they become consistent content ccreaor in youtube.

Users can recieve/redeem their profits only after Verification.

1. Is there the concept of Collectibles in ynft Platform?

Yes, there is.

1. Can the content creators of other platforms participate in ynft platform as a Level 2 user?

Currently, we accept only active Youtubers, but in future we will accept content creators from almost all similar patforms.