Mylivn Coin: A Decentralized Application and Service Platform Based on Ethereum
The Mylivn Coin whitepaper was recently released by the core team of the Mylivn Coin project, aiming to build an innovative monetization model for the mylivn social network to address the pain points of unfair revenue distribution for content creators and the difficulty of reflecting user value on traditional social platforms.
The theme of the Mylivn Coin whitepaper can be summarized as “Mylivn Coin: A Universal Digital Currency Empowering the Content Economy of Social Networks.” What makes Mylivn Coin unique is its proposal to use MLVC as the universal currency within the mylivn social network, leveraging blockchain technology to enable direct value exchange and diversified content monetization between users and creators, such as creating and selling NFTs, tipping, and premium account access. The significance of Mylivn Coin lies in laying the foundation for a decentralized content economy within the social network ecosystem, greatly enhancing creators’ earning potential and giving users more participatory value.
The original intention of Mylivn Coin is to build a fair, transparent, and efficient value circulation system for social networks. The core viewpoint outlined in the Mylivn Coin whitepaper is: by introducing MLVC as the central incentive and payment medium, and having the mylivn network continuously purchase MLVC to share advertising revenue, the project aims to ensure transaction transparency and security while creating a win-win ecosystem for both users and creators within the social network.
Mylivn Coin whitepaper summary
Mylivn Coin (MLVC) Project Introduction
Friends, today let’s talk about a project called Mylivn Coin (MLVC). You can think of it as an “internal currency” tailor-made for a specific social media platform—sounds pretty interesting, right?
The core goal of Mylivn Coin is to become the universal currency within a social network called “mylivn.” It’s like being in a huge theme park where all spending, games, and even tipping performers can only be done using tokens issued by the park itself. This way, the “mylivn” social network can better manage its own economic system and offer users and creators some special ways to interact and enjoy benefits.
Within the “mylivn” social network, the MLVC token has many practical uses. For example, if you want to tip your favorite creator, buy their exclusive content (such as digital collectibles or NFTs), or upgrade your account for more premium privileges, you’ll need MLVC. So, it’s not just a digital currency—it’s your “passport” for all kinds of interactions and transactions in the Mylivn digital world.
The Mylivn project also features an interesting mechanism aimed at helping content creators better monetize their work. The platform shares a portion of its advertising revenue (for example, 70%) with creators. Here’s the clever part: the platform converts this ad revenue into MLVC tokens, then buys these tokens from the market to pay creators. This means that as the platform and its creators become more active, demand for MLVC tokens may increase, since the platform needs to keep buying them to pay out rewards. It’s a virtuous cycle—the more popular the creators, the more the platform earns, and the higher the potential demand for MLVC, which could impact its value.
On the technical side, the MLVC token is built on blockchain technology. It’s described as an ESDT standard token based on the Elrond blockchain (now renamed MultiversX). You can think of blockchain as a public, transparent, and tamper-proof digital ledger, where all MLVC transactions are securely recorded, ensuring traceability and transparency. The ESDT standard is like a universal protocol for issuing tokens on the Elrond blockchain, guaranteeing compatibility and functionality.
At present, Mylivn Coin appears to be in a relatively early stage, with very limited trading information and circulation available in the market. This means it may not have fully entered public trading, or its trading volume is very small. So, if you’re interested in this project, remember this is just a preliminary introduction, not investment advice. Every cryptocurrency project carries risks—make sure to do your own thorough research, dig deep, and consult professional opinions before making any decisions. After all, in the blockchain world, “Do Your Own Research” (DYOR) is always rule number one.