In our commitment to broaden our offerings continually, we are introducing a new project addition: LimeWire. A SocialFi platform for content creators, artists, and brands to build membership-based communities for their most passionate fans.
This article explores LimeWire and explains what it is and what makes it unique. You will learn about the LimeWire’s native token, $LMWR, its utilities, tokenomics, and token statistics. The article concludes by discussing some of the key features of LimeWire, such as the AI Studio and ad-revenue generation, and providing steps for you to buy and trade the LMWR tokens.
What is SocialFi?
SocialFi, short for Social Finance, is the intersection of social media and decentralized finance (DeFi), aiming to monetize social interactions and content creation on the blockchain. LimeWire exemplifies SocialFi by combining a social media-like platform for content creators and fans with a blockchain-based token economy, enabling users to own, trade, and monetize content.
What is Limewire?
LimeWire is a reincarnated platform that originally gained popularity in the early 2000s for enabling music sharing and discovery. In its new form, LimeWire has evolved into a Web3 subscription platform designed for content creators, artists, and brands to build membership-based communities for their most passionate fans. The platform features an AI studio that empowers users to create, publish, and monetize content using the power of AI, including generative images, music, and audio.
LimeWire operates by allowing content creators to establish communities centred around exclusive content feeds, which can be accessed by fans through monthly or yearly subscriptions, or token-gated based on NFT or token ownership. Subscribers gain access to exclusive content, direct messaging with creators' limited paid content drops, and the ability to communicate with other community members. The platform utilizes blockchain and NFT technology to make each piece of exclusive content ownable and tradeable, providing subscribers with digital collectables of every post published during their subscription period.
What sets LimeWire apart is its unique approach to content ownership and creator support. As an industry first, LimeWire enables fans to own and trade the content they access through their subscriptions, allowing them to directly participate in the long-term success of the creators they support. Through the LimeWire token (LMWR), the platform offers a gamified loyalty-tier system that provides perks and benefits to token holders.
Additionally, LimeWire's ad-revenue sharing program incentivizes creators, subscribers, and promoters to boost content exposure, with a significant portion of the revenue being used to buy back LMWR tokens and reward platform users. This innovative model creates a mutually beneficial ecosystem that supports the growth and success of both creators and their fans.
What is the LMWR Token?
LMWR tokens, or LimeWire tokens, are ERC-20 based utility tokens that play a central role in the LimeWire ecosystem. These tokens are designed to enhance the user experience on the LimeWire platform and provide various benefits to token holders through a gamified loyalty-tier system.
LMWR Token Utility
The LimeWire token utility can be broadly categorized into the following three pillars:
- Loyalty Tiers & Benefits: Perks and benefits for LMWR holders.
- Payment & Rewards: Interacting with the LimeWire platform.
- Governance & Decentralization: Participating in the LimeWire ecosystem.
LMWR rokens are also used in the platform's ad-revenue sharing program, where a portion of the collectively generated revenues is used to buy back LMWR tokens from the market and reward creators, subscribers, and promoters, creating a dynamic and engaging ecosystem that benefits all participants.
LMWR Tokenomics
The LMWR tokenomics are designed for LimeWire's long-term vision. The total fixed supply is 1 billion tokens, with no inflation. Most of the allocation will go to the community, including 1 million LMWR awarded evenly to all LimeWire Originals holders post-public sale. Below is a breakdown chart of LMWR distribution.
LMWR Token Statistics
Token Symbol: LMWR
Token Supply: 1 billion LMWR
Market Capitalization: $282.31 million
Trading Price: $0.2823
Cryptocurrency Rank: #378
Limewire AI Studio
LimeWire AI Studio is a groundbreaking feature that empowers users to create, publish, and monetize content using the power of artificial intelligence. The studio provides a platform for anyone to become a creator, enabling a new era of digital creativity. Users can leverage the AI Studio to generate stunning images, music, and audio content, all without needing extensive technical knowledge or skills.
One of the most impressive aspects of LimeWire AI Studio is its seamless integration with the Polygon blockchain. All content created within the studio is automatically minted on Polygon, ensuring that creators maintain ownership and control over their work. This integration also enables creators to easily publish their AI-generated content on the LimeWire platform, where they can potentially earn up to 90% of all ad revenue generated from their creations.
Limewire Ad-Revenue Generation
LimeWire's Ad-Revenue Generation program is an innovative feature that allows any content posted on the platform to automatically generate ad revenue. The revenue generated is calculated based on the number of views a post receives, creating a system where the more views a post generates, the higher the revenue share will be for the creator, subscribers, and promoters associated with that content.
The Ad-Revenue Distribution system operates using LMWR tokens. LimeWire uses the collectively generated revenues to buy back LMWR tokens from the market and then distributes these tokens to reward platform users. Creators receive 50% of all ad revenue generated on the LimeWire platform, while fans and subscribers who owned the content before its release receive 10% of the ad revenue. Promoters who help to promote the content on social media also receive 10% of the ad revenue generated. This unique revenue-sharing model incentivizes all participants to optimize content exposure and boost views, ultimately benefiting the entire LimeWire community and LMWR Token holders.
How to Buy and Trade LMWR Tokens?
CoinEx is a global cryptocurrency exchange, trusted by 6+ millions of users worldwide with 100% reserve. Users can now trade easily and seamlessly with over 1,100 tokens supported, including $LMWR. To purchase $LMWR on CoinEx, follow the steps below.
- Create an Account: Start by signing up for a CoinEx account.
- Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
- Navigate to the LMWR Trading Page: Once your account is funded, go to the spot trading page on CoinEx. You can find a search box and enter the term “LMWR“ to swiftly locate the trading pair associated with LMWR tokens.
- Choose a Trading Pair: Select the trading pair LMWR/USDT if you'd like to trade $LMWR against USDT (Tether).
- Specify the Purchase Amount: Determine the amount of LMWR tokens you want to purchase. Input the amount in the trading interface, which will calculate the corresponding cost based on the current market price.
- Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order.
By following these comprehensive steps, you can easily trade LMWR on CoinEx, taking advantage of the available trading pairs.
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