Solana (SPL) address: 9LzCMqDgTKYz9Drzqnpgee3SGa89up3a247ypMj2xrqM
Ethereum (ERC) address: 0x18aAA7115705e8be94bfFEBDE57Af9BFc265B998

$AUDIO secures and governs the Open Audio Protocol.

It is the fundamental unit of cryptocurrency that powers artist coins, rewards, staking, governance, and all derivative features of the Open Audio Protocol. Through its existence, $AUDIO offers a way for independent actors in a distributed community (technologists, artist, fans or some combination of the three) to act with aligned incentives defend the open catalog of music that exists in the global music database.

$AUDIO launched October 22, 2020 with a fixed genesis supply of 1,000,000,000.

Security

$AUDIO secures the protocol through staking. $AUDIO is staked as collateral to operate a share of the network, storing and streaming media back to end-users. In turn, staked $AUDIO earns ongoing issuance through rewards, but also risks penalty through an automated slashing mechanism.

Governance

Staking $AUDIO gives users governance weight to influence the future of the protocol, with each token staked equaling one vote. Stakers of $AUDIO also govern the global fee pool earned by the network, which captures 10% of all sales, and 1% of all Artist Coin trading fees.

Rewards

• A 7% per annum reward rate is distributed on a weekly basis to the stakers of the network.
• A 1% per annum reward rate is distributed through a decentralized rewards system to participants of the protocol.

Ongoing issuance is modifiable by governance.

Access

Utilizing $AUDIO, developer applications, such as Audius are able to offer unique features and experiences to holders and stakers of $AUDIO throughout their applications.

Together the holders and users of $AUDIO power an entirely community-hosted music database. Those who own $AUDIO own the protocol.