EunCoin Terms and Conditions for Content Creator and Donors

1. Content Creators

Accepting new Content Creators

The amount of incentive Euncoins distributed to content creators is based on their social impact and how early someone becomes an adopter of Euncoin. This will be attributed using the number of subscribers or followers depending on the platform they are applying from. For every 100 subscribers or followers they have at the time of registration, they will receive 1 EUN (in other words, the amount of EUN equals to 1% of subscribers or followers.

 At the time of the launch, and until the value of Euncoin is determined by the market on coin exchanges, the value of Euncoin for reward distribution purpose is set at 0.01 USD per coin.

Illustration of EUN amounts received by a YouTuber upon initial registration with Euncoin.com:

As an example, assuming this Youtuber has 6 million subscribers and participate at Phase 4 (following Distribution table below), the incentive EUN amount he will receive is:

6,000,000 subscribers x 1% x 170% = 102,000 EUN

(Distribution value : 102,000 coins x 0.01 USD = 1,020 USD)

It should be noted that this number will diminish over time. Early adopters will receive more incentive coins than those registering in later phases since the percentage of coins to be distributed gradually reduces to reward early adopters.

Using the same example in conjunction with the table below;

Phase 1 adopters with 6,000,000 subscribers would receive 120,000 incentive coins, while someone registering at Phase 17 would receive only 24,000 incentive coins.

Once all the 5,100,000,000 incentive coins assigned to content creators are exhausted, content creators will still be able to register an account and promote Euncoin, and their donors will still be able to receive coins as rewards for their donations. However, content creators would no longer receive incentive coins for themselves.

Registering and receiving their Initial Coins?

- Content creators need to register on euncoin.com and provide the necessary information about their channel, donor structure and API key (in the case of Patreon, for example) to allow the Euncoin distribution system to know how many coins are to be distributed to their donors and at which phase.

- Content creators also need to register Euncoin wallets on wallet.euncoin.com.

- Subsequently, they need to promote Euncoin on their social media platforms, through a custom announcement at the end of their videos, or through a series of messages on their blogs, pages, or groups.  

- Once the content creators have completed the steps above, they are ready to receive Euncoin in their wallets. Euncoin will be distributed to them as soon as at least 10 % of the initial donors have registered a wallet on Euncoin.com and received their first deposits of coins through the distribution system, no matter how big the donation amounts are. A quick example would be the number of Patrons a YouTuber would have on his Patreon account, a Youtuber with 500 Patrons would only need to get 50 Patrons to sign up at Euncoin.com and make a donation of any size, once these 50 Patrons receive their Euncoin through Euncoin distribution system, the incentive coins will be deposited in the corresponding content creators’ wallets.

2. Donors

Receiving coins for donations

After registering an account and a wallet at euncoin.com, donors will be able to link their donation account from Patreon or another supported platform to start receiving Euncoin.

As money is donated to content creators, Euncoins will be distributed to the donors. The common point of reference between the Euncoin wallet and third-party donation engines like Patreon is an email address. It is used by the Coin Distribution Application to determine how many coins to be distributed based on the donation given.

The initial value of an Euncoin is set at 0.01 USD. It will remain at that set value until the coin is listed on an exchange. Once a value is established by the market demand and supply on coin exchanges, the coin distribution will follow that market value from then on. As the coin increases in value, less amount of coins will be distributed for each donated amount. There is no limit on how high the value of coin could be. On the down side, however, the coin value used for distribution purpose will never be lower than 0.01 USD.

As the list of donors is obtained from the content creator’s API, all donors need to do is to register a wallet and the distribution system will do the rest. If the donors don’t have a wallet, the transactions cannot happen, and no coins will be distributed to these donors.

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