Joystream – Ruled and operated by users of the video platform

The Joystream protocol is pioneering the Decentralized Autonomous Organization (DAO) sector by formalizing a video content platform owned and operated solely by its users.

$JOY is the native token of the video platform (while $tJOY remains the testnet token) and was built on Polkadot and recently migrated to the GizaDao (GIZA) network. For added safety and security, the company holds a matching pool of fiat currency ($USD) tied to the total supply of the token and testnet participants can exchange their $tJOY for dollars at any time.

The three main functions of the token are staking, governance, and payment. While the mainnet is under construction, users can use $tJOY tokens on testnets in the same way to achieve the same result.

Users can stake tJOY to participate in testnet roles and to create governance proposals to submit to board members for review and ultimately approval by vote. Effective contributors will receive both a $JOY and $tJOY stipend for operating in workgroups, bounties, and the board.

For those looking to get involved with the project, the Discord community channel or on-channel forum will provide tips on how to become a contributor and participate in bounties, competitions and other events.

The Founding Member Program will allocate $12 million in $JOY tokens to testnet participants to kickstart the process as the company evolves and grows.

Joystream is built by the team of Jsgenesis who have nearly 30 members in their dynamic team. Coming from different countries and continents but sharing a common passion for video content and empowering the creator economy, contributing to the Web 3.0 development of open source blockchain technology, distributed systems and privacy is what has reunited the team.

The vision is to hand over all future operation of Joystream DAO to the community.

Everyone can participate in their own way, earn tokens and influence the development of the platform. Those who decide to take the founding member journey will receive the effective training to rule the platform on the mainnet.

Joystream’s ecosystem includes Atlas and Pioneer, the two rapidly evolving applications on the platform for content consumption and governance activities.

Atlas is the flagship content consumption and publishing app for Joystream where users can watch videos, follow creators and discover new content, or create a channel and build an audience. Video NFTs and social tokens will enable the tokenization of content on every channel so users can invest in their favorite creators to earn a share of their NFT sales revenue, get early access to videos and more.

Pioneer is where members can participate in the governance and running of the community and vote in elections, submit proposals to fund your project, or enter a paid role to power the platform. The upcoming Pioneer v2 will have additional forum functionality and open up the ability for anyone to create a bounty.

Keep up to date with the progress of the project, for example by tweeting to the Giza network: https://twitter.com/JoystreamDAO/status/1484464737312194563?s=20

Visit the website for more information – https://www.joystream.org/

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The country: Australia
Website: https://micky.com.au/joystream-governed-and-operated-by-video-platform-users/