Choon is based around a priority token called Notes , an ERC20 token based on the Ethereum network which lives under the surface of the app , which is how artists get paid . When people make smart record contracts , which determine how the income for a track is split , it will be Notes that get divided up and distributed , on a daily basis , to each of the participants . “ The cool thing is end users and listeners don ’ t need Notes to use Choon ,” enthuses the LA-based Emery . “ You can pay for streaming packages in traditional ways , while all the cryptocurrency architecture happens under the hood . Essentially , there will only ever be 80mn Notes created as an all-time total , with 50 % of those distributed to artists over the first five years of the service . So that ’ s 20,000 notes a day , which will be distributed on a pro-rata basis – so it ’ s incredibly egalitarian and split across all the artists using the network . For those joining early , there will be an amazing opportunity to land grab and accumulate a lot of these Notes . At that point they won ’ t be worth a lot but , as the years go by , the utility of Notes will go up and they ’ ll be more useful , but harder to get as more artists compete for them .”
Choon can also utilise Notes on the
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